MIRA
INFORM REPORT
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Report Date : |
25.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
LISSON GALLERY LONDON LIMITED |
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Registered Office : |
76 New Bond Street, London, W1S 1RX |
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Country : |
United Kingdom |
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Financials (as on) : |
31.01.2007 |
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Date of Incorporation : |
14.01.1983 |
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Com. Reg. No.: |
01691363 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Art Gallery |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
GBP 302000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
LISSON GALLERY LONDON LIMITED |
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Trading Address |
67 Lisson St,LONDON,NW1 5DA |
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Telephone |
020-7724-2739 |
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There is a high degree of confidence this company will
prove good for the assigned Credit Limit |
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Credit Limit |
GBP 302,200 |
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Selling to this company? The Credit Limit is the
recommended maximum outstanding debtor exposure at any one time. |
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Contract Limit |
GBP 2,183,500 |
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Buying from this company? The Contract Limit is the
recommended aggregate annual value for supply contracts. |
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Official Company Data
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Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
01691363 |
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Date of Incorporation |
14/01/1983 |
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Registered Office |
76 New Bond Street, London, W1S 1RX |
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Date of Last Annual Return to
Registry |
09/06/2007 |
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Activities |
Art gallery |
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Accounts |
The last filed accounts cover the period to 31/01/2007 and
were filed on 04/02/2008 |
Recently Filed Documents
Details of the most recent documents
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Date Received |
Description |
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09/06/2007 |
Annual Return |
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31/01/2007 |
Financial Statement / Set of Accounts |
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It should be noted that there is no legal requirement to
file satisfaction details of mortgages/charges at Companies House. |
Known Directors
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DIRECTOR |
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Occupation |
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Address |
31-37, BELL STREET , LONDON , NW1 5BY |
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Country of Origin |
BRITISH |
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Date of Birth |
21/06/1945 |
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Appointment Date |
09/06/1991 |
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Other Appointments |
LISSON GALLERY LONDON LIMITED |
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SECRETARY |
MR JULIAN CLARKE |
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Address |
125 METRO CENTRAL HEIGHTS, , LONDON , SE1
6BB |
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Country of Origin |
BRITISH |
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Appointment Date |
07/10/2006 |
Recently Resigned Directors (last
3)
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DIRECTOR |
JILL SILVERMAN VAN COENEGRACHTS |
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Occupation |
ART DEALER |
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Address |
108 , BLAKE ROAD , LONDON , - - |
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Country of Origin |
BELGIAN |
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Date of Birth |
20/02/1952 |
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Resignation Date |
30/09/2005 |
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DIRECTOR |
PILAR SOPHIA CORRIAS |
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Occupation |
ART CONSULTANT |
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Address |
37 , ONGAR ROAD , LONDON , - - |
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Country of Origin |
ITALIAN |
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Date of Birth |
31/07/1969 |
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Resignation Date |
14/07/2003 |
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DIRECTOR |
MICHELLE MARIA D'SOUZA |
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Occupation |
ART CONSULTANT |
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Address |
23 , CONNAUGHT SQUARE , LONDON , - - |
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Country of Origin |
BRITISH |
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Date of Birth |
20/02/1965 |
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Resignation Date |
14/07/2003 |
Share Summary
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Share Currency: |
GBP |
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Priniciple Shareholders: |
Type Of Share |
No. of Shares |
Value |
Voting %age |
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Mr Nicholas Logsdail |
ORD |
100 |
100.00 |
100.00 |
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Mortgages and Charges
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Total Registered |
5 |
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Total Outstanding |
3 |
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Total Satisfied |
2 |
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Most Recent Mortgage |
06/10/2006 |
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Date Registered |
14/10/2006 |
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Type |
395 |
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Date Created |
06/10/2006 |
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Lender |
ADAM & COMPANY PLC |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE ON ANY ACCOUNT WHATSOEVER |
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Details |
FH PROPERTY KA 5254 BELL STREET AND 67 LISSON STREET,
LONDON TNO'S NGL575639, NGL430813, NGL543268, 124424 AND NGL586079 AND ALL
THE PLANT, MACHINERY AND FIXTURES AND FITTINGS, ALL FURNITURE, FURNISHINGS,
EQUIPMENT, TOOLS AND OTHER CHATTELS AND THE GOODWILL SEE THE MORTGAGE CHARGE
DOCUMENT FOR FULL DETAILS |
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Satisfied? |
No |
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Date Registered |
18/10/2001 |
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Type |
395 |
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Date Created |
02/10/2001 |
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Lender |
COUTTS & CO |
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Secured On |
THE SUM OF 700,000 DUE OR TO BECOME DUE FROM THE COMPANY
TO THE CHARGEE |
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Details |
52 BELL STREET LONDON NW1 5BU TNO: 124424 SEE THE MORTGAGE
CHARGE DOCUMENT FOR FULL DETAILS |
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Satisfied? |
No |
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Date Registered |
18/10/2001 |
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Type |
395 |
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Date Created |
02/10/2001 |
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Lender |
COUTTS & CO |
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Secured On |
THE SUM OF 700,000 DUE OR TO BECOME DUE FROM THE COMPANY
TO THE CHARGEE |
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Details |
67 LISSON STREET LONDON NW1 5BU TNO: NGL430813 |
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Satisfied? |
No |
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Date Registered |
21/09/1992 |
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Type |
395 |
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Date Created |
17/09/1992 |
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Lender |
ALLIED DUNBAR ASSURANCE PLC |
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Secured On |
425,000 AND ALL OTHER MONIES DUE OR TO BECOME DUE FROM THE
COMPANY TO THE CHARGEE UNDER THE TERMS OF THE CHARGE |
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Details |
FH LAND AND BUILDINGS KA 67 LISSON STREET LONDON TITLE
NUMBERS NGL430813, NGL543268, NGL124424 AND NGL575639 FH LAND AND BUILDINGS
KA 52 BELL STREET LONDON TITLE NUMBER NGL586079 UNDERTAKING AND ALL PROPERTY
AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL |
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Satisfied? |
Fully |
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Date Registered |
17/07/1987 |
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Type |
9999 |
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Date Created |
15/07/1987 |
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Lender |
ALLIED DUNBAR ASSURANCE PLC |
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Secured On |
200000 AND ALL OTHER MONIES DUE OR TO BECOME DUE FROM THE
COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE
CHARGE |
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Details |
FIXED CHARGE OVER ALL THOSE FREEHOLD LAND AND BUILDINGS
TOGETHER NOW KNOWK AS 67 HUSSON STREET LONDON NW1 AS THE SAME IS REGISTERED
AT H.M LAND REGISTRY WITH TITLE ABSOLUTE UNDER TITLE NUMBER NGL 430813,
NGL543268, 124424, NGL 975639FLOATING CHARGE OVER (2) ALL THE ASSETS PROPERTY
AND UNDERTAKING OF THE COMPA0Y HATSOEND & WHERESOEVER BOTH PRESENT &
FUTURE INCLUDING ALL THE GOODWILL AND UNCALLED CAPITAL |
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Satisfied? |
Fully |
Public Record Information
Summary of CCJ's/Scottish Decrees
There are no unsatisfied CCJs against the company.
Operations
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Activities |
Art gallery |
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Sic Code |
Description |
|
9252 |
Museum activities and preservation of historical sites and
buildings |
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Staff Employed |
20 |
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Auditors |
K C Partners |
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Auditors Notes |
No Qualification. The Auditors have expressed a clean
opinion (i.e. unqualified with no referrals) on the latest accounts. |
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Bankers |
Lloyds TSB Bank Plc |
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Sort Codes |
309871 |
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Bankers |
Coutts & Co |
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Sort Codes |
180014 |
Financial Data
Profit and Loss
|
Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/01/2007 |
31/01/2006 |
31/01/2005 |
31/01/2004 |
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Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
units |
units |
units |
units |
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Consolidated? |
No |
No |
No |
No |
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GROSS PROFIT |
5,864,208 |
4,336,237 |
3,218,106 |
3,017,775 |
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General administration costs (-) |
3,662,197 |
3,345,187 |
2,942,653 |
2,672,976 |
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Wages and Salaries |
1,816,394 |
1,680,445 |
1,168,940 |
1,123,229 |
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Depreciation |
83,978 |
69,592 |
76,105 |
69,005 |
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Net Operating Profit(Loss) |
2,202,011 |
991,050 |
275,453 |
344,799 |
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Non Trading Income |
47,639 |
21,301 |
7,237 |
6,822 |
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Total Non Trading Income |
47,639 |
21,301 |
7,237 |
6,822 |
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Interest expenses & similar
(-) |
40,814 |
41,621 |
55,683 |
71,223 |
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Financial Expenses |
40,814 |
41,621 |
55,683 |
71,223 |
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PRE TAX PROFIT |
2,208,836 |
970,730 |
227,007 |
280,398 |
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Other Taxation |
12,999 |
17,360 |
0 |
0 |
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Taxation |
718,667 |
343,023 |
100,477 |
104,921 |
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PROFIT AFTER TAX |
1,477,170 |
610,347 |
126,530 |
175,477 |
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Net Profit |
1,477,170 |
610,347 |
126,530 |
175,477 |
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Dividends Payable |
402,000 |
190,000 |
55,000 |
50,000 |
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RETAINED PROFITS |
1,075,170 |
420,347 |
71,530 |
125,477 |
Balance Sheet
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/01/2007 |
31/01/2006 |
31/01/2005 |
31/01/2004 |
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Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
units |
units |
units |
units |
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Consolidated? |
No |
No |
No |
No |
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TOTAL FIXED ASSETS |
1,317,878 |
1,296,334 |
1,335,509 |
1,341,908 |
|
Land & buildings |
1,137,900 |
1,128,844 |
1,162,459 |
1,192,059 |
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Plant, machinery &
equipment |
162,511 |
150,023 |
155,583 |
132,381 |
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Intermediate Assets |
17,467 |
17,467 |
17,467 |
17,468 |
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TOTAL CURRENT ASSETS |
9,204,065 |
4,978,543 |
3,823,351 |
2,878,573 |
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Stocks |
1,161,946 |
695,511 |
578,311 |
622,153 |
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Trade Debtors |
3,868,665 |
2,105,260 |
2,157,458 |
1,396,109 |
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Other Receivables |
403,888 |
18,677 |
77,897 |
144,823 |
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Prepaid expenses |
1,580,567 |
754,007 |
112,756 |
38,416 |
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Group Loans |
29,362 |
29,362 |
593,322 |
- |
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Cash |
1,925,535 |
1,096,912 |
236,080 |
422,722 |
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Tax Recoverable |
234,102 |
278,814 |
67,527 |
155,947 |
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TOTAL ASSETS |
10,521,943 |
6,274,877 |
5,158,860 |
4,220,481 |
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TOTAL CURRENT LIABILITIES |
8,308,067 |
4,546,410 |
3,809,756 |
2,806,511 |
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Trade Creditors |
6,619,667 |
3,338,262 |
3,079,143 |
2,032,026 |
|
Bank Overdraft |
14,778 |
266,625 |
184,520 |
144,360 |
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Loans From Principals |
12,165 |
3,407 |
8,216 |
18,840 |
|
Taxes |
816,685 |
469,678 |
134,915 |
197,304 |
|
Accruals & deferred
income |
844,772 |
468,438 |
342,962 |
253,131 |
|
WORKING CAPITAL |
895,998 |
432,133 |
13,595 |
72,062 |
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TOTAL LONG TERM LIABS |
30,359 |
620,120 |
661,104 |
797,500 |
|
Taxation |
30,359 |
17,360 |
- |
- |
|
NET ASSETS/(LIABILITIES) |
2,213,876 |
1,728,467 |
1,349,104 |
1,413,970 |
|
SHARE CAPITAL + RESERVES |
2,183,517 |
1,108,347 |
688,000 |
616,470 |
|
Issued Share Capital |
100 |
100 |
100 |
100 |
|
Profit and Loss account |
2,183,417 |
1,108,247 |
687,900 |
616,370 |
|
SHAREHOLDERS FUNDS |
2,183,517 |
1,108,347 |
688,000 |
616,470 |
|
CAPITAL EMPLOYED |
2,213,876 |
1,728,467 |
1,349,104 |
1,413,970 |
|
TANGIBLE NET WORTH |
2,183,517 |
1,108,347 |
688,000 |
616,470 |
Key Credit Ratios
|
Accounts Date |
31/01/2007 |
31/01/2006 |
31/01/2005 |
31/01/2004 |
|
Current Ratio |
1.11 |
1.10 |
1.00 |
1.03 |
|
Quick Ratio |
0.97 |
0.94 |
0.85 |
0.80 |
|
Return on Assets |
21.03 |
15.51 |
4.42 |
6.67 |
|
T.N.W/Total Assets |
0.21 |
0.18 |
0.13 |
0.15 |
|
Return on Capital |
99.77 |
56.16 |
16.83 |
19.83 |
|
Equity Gearing |
0.72 |
0.64 |
- |
0.16 |
|
Solvency (%) |
381.88 |
466.15 |
649.83 |
584.62 |
Financial Summary
|
Operating Profit |
Totalled GBP 2,202,011,units In the period prior a
profit of GBP 991,050,units was achieved. |
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Pre Tax |
The subject made a profit of GBP 2,208,836,units
compared with a profit of GBP 970,730,units in the previous period. |
|
Working Capital |
The company's working capital improved in the period by
107% |
|
Tangible Net Worth |
Net worth increased by 1,075,170 during the period and now
stands at GBP 2,183,517,units |
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Fixed Assets |
The subjects fixed assets increased during the period by
GBP 21,544 to GBP 1,300,411,units and are now 12% of total assets
compared with 20% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities reduced during the
period by 95% and are now 1% of net worth compared with 56% in the previous
period |
|
Long Term Liabilities |
Long term liabilities are now 0% of total assets compared
with 10% in the previous period |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)