MIRA
INFORM REPORT
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Report Date : |
25.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
MONNICKENDAM DIAMONDS LIMITED |
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Registered Office : |
Palladium House, 1/4 Argyll Street, London, W1F 7LD |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
04.04.1995 |
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Com. Reg. No.: |
03041702 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Diamond Cutters |
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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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 |
MONNICKENDAM DIAMONDS LIMITED |
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Trading Address |
9 Ely Pl,LONDON,EC1N 6RY |
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Telephone |
020-7242-2333 |
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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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Official Company Data
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Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
03041702 |
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Date of Incorporation |
04/04/1995 |
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Registered Office |
Palladium House, 1/4 Argyll Street, London, W1F 7LD |
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Date of Last Annual Return to
Registry |
18/03/2008 |
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Activities |
Diamond Cutters |
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Accounts |
The last filed accounts cover the period to 31/12/2007 |
Recently Filed Documents
Details
of the most recent documents
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Date
Received |
Description |
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18/03/2008 |
Annual Return |
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31/12/2007 |
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 |
DIRECTOR |
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Address |
4, ABERCORN CLOSE ST JOHNS WOOD , LONDON
, NW8 9XS |
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Country of Origin |
BRITISH |
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Date of Birth |
13/11/1952 |
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Appointment Date |
02/03/2007 |
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Other Appointments |
MONNICKENDAM DIAMONDS LIMITED |
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DIRECTOR |
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Occupation |
COMPANY DIRECTOR |
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Address |
CHESSUNT , AUSTELL GARDENS MILL HILL , LONDON
, NW7 4NS |
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Country of Origin |
BRITISH |
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Date of Birth |
12/03/1947 |
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Appointment Date |
04/04/1995 |
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Other Appointments |
A. MONNICKENDAM LIMITED, MONNICKENDAM DIAMONDS
LIMITED, PEACH HOUSE LIMITED |
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SECRETARY |
MR NEIL HOLNESS |
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Address |
94 PRETORIA ROAD, , LONDON , SW16 6RN |
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Country of Origin |
BRITISH |
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Appointment Date |
31/07/1995 |
Recently Resigned Directors (last
3)
None
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 Gary David Monnickendam |
ORD |
525,001 |
525,001.00 |
70.00 |
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Mr Jeffrey Monnickendam |
ORD |
225,001 |
225,001.00 |
30.00 |
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Mortgages and Charges
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Total Registered |
1 |
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Total Outstanding |
1 |
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Total Satisfied |
0 |
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Most Recent Mortgage |
02/05/1996 |
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Date Registered |
16/05/1996 |
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Type |
395 |
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Date Created |
02/05/1996 |
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Lender |
MIDLAND BANK 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 |
FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL
PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL GOODWILL,
BOOKDEBTS AND PATENTS |
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Satisfied? |
No |
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Public Record Information
Summary
of CCJ's/Scottish Decrees
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There are no unsatisfied CCJs against the company. |
Operations
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Activities |
Diamond Cutters |
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Sic Code |
Description |
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3622 |
Manufacture of jewellery and related articles not
elsewhere classified |
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Staff Employed |
8 |
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Auditors |
Hazlems Fenton |
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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. |
Financial Data
Profit and Loss
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
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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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SALES |
7,648,468 |
7,103,024 |
6,463,035 |
6,677,824 |
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Cost of goods sold |
6,565,077 |
5,584,882 |
5,437,408 |
5,414,073 |
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GROSS PROFIT |
1,083,391 |
1,518,142 |
1,025,627 |
1,263,751 |
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Other Expenses |
321,276 |
366,027 |
134,731 |
134,706 |
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General administration costs (-) |
602,332 |
414,991 |
765,475 |
1,023,944 |
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Wages and Salaries |
529,543 |
563,962 |
519,300 |
588,397 |
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Depreciation |
3,982 |
4,819 |
5,420 |
2,836 |
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Net Operating Profit(Loss) |
159,783 |
737,124 |
125,421 |
105,101 |
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Non Trading Income |
36,931 |
18,564 |
10,189 |
9,750 |
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Total Non Trading Income |
36,931 |
18,564 |
10,189 |
9,750 |
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Interest expenses & similar (-) |
10 |
- |
428 |
153 |
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Financial Expenses |
10 |
0 |
428 |
153 |
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PRE TAX PROFIT |
196,704 |
755,688 |
135,182 |
114,698 |
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Other Taxation |
231,374 |
0 |
0 |
0 |
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Taxation |
41,386 |
39,743 |
27,293 |
23,169 |
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PROFIT AFTER TAX |
-76,056 |
715,945 |
107,889 |
91,529 |
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Net Loss |
76,056 |
- |
- |
- |
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Dividends Payable |
0 |
99,996 |
0 |
0 |
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RETAINED PROFITS |
- |
615,949 |
107,889 |
91,529 |
Balance Sheet
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
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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 |
23,425 |
26,813 |
19,080 |
22,837 |
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Plant, machinery & equipment |
23,425 |
26,813 |
19,080 |
22,837 |
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TOTAL CURRENT ASSETS |
3,616,684 |
3,321,637 |
2,252,297 |
2,890,551 |
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Stocks |
1,157,664 |
980,906 |
506,575 |
577,434 |
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Trade Debtors |
1,617,991 |
864,932 |
970,855 |
924,107 |
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Other Receivables |
3,544 |
8,055 |
66,550 |
32,767 |
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Prepaid expenses |
29,438 |
34,623 |
25,383 |
32,648 |
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Cash |
808,047 |
1,433,121 |
682,934 |
1,323,595 |
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TOTAL ASSETS |
3,640,109 |
3,348,450 |
2,271,377 |
2,913,388 |
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TOTAL CURRENT LIABILITIES |
1,660,559 |
1,292,844 |
831,721 |
1,581,621 |
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Trade Creditors |
1,461,401 |
1,086,954 |
669,196 |
1,196,008 |
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Loans From Principals |
64 |
467 |
- |
- |
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Taxes |
117,326 |
75,355 |
45,386 |
73,752 |
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Other Current Liabilities |
9,196 |
9,045 |
25,886 |
- |
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Accruals & deferred income |
72,572 |
121,023 |
91,253 |
311,861 |
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WORKING CAPITAL |
1,956,125 |
2,028,793 |
1,420,576 |
1,308,930 |
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TOTAL LONG TERM LIABS |
0 |
0 |
0 |
0 |
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NET ASSETS/(LIABILITIES) |
1,979,550 |
2,055,606 |
1,439,656 |
1,331,767 |
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SHARE CAPITAL + RESERVES |
1,979,550 |
2,055,606 |
1,439,656 |
1,331,767 |
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Issued Share Capital |
750,002 |
750,002 |
750,002 |
750,002 |
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Profit and Loss account |
1,229,548 |
1,305,604 |
689,654 |
581,765 |
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SHAREHOLDERS FUNDS |
1,979,550 |
2,055,606 |
1,439,656 |
1,331,767 |
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CAPITAL EMPLOYED |
1,979,550 |
2,055,606 |
1,439,656 |
1,331,767 |
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TANGIBLE NET WORTH |
1,979,550 |
2,055,606 |
1,439,656 |
1,331,767 |
Key Credit Ratios
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Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
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Current Ratio |
2.18 |
2.57 |
2.71 |
1.83 |
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Profit Before Tax |
0.03 |
0.11 |
0.02 |
0.02 |
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Creditors Days (D.P.O) |
81.25 |
71.04 |
44.92 |
80.63 |
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Quick Ratio |
1.48 |
1.81 |
2.10 |
1.46 |
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Return on Assets |
5.40 |
22.57 |
5.95 |
3.94 |
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T.N.W/Total Assets |
0.54 |
0.61 |
0.63 |
0.46 |
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Return on Capital |
9.94 |
36.76 |
9.39 |
8.61 |
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Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
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Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
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Solvency (%) |
83.89 |
62.89 |
57.77 |
118.76 |
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Financial Summary
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Turnover |
Turnover increased by more than 8% in the period. Turnover
totalled GBP 7,648,468,units for the period. |
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Operating Profit |
Totalled GBP 159,783,units In the period prior a
profit of GBP 737,124,units was achieved. |
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Pre Tax |
The subject made a profit of GBP 196,704,units
compared with a profit of GBP 755,688,units in the previous period. |
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Working Capital |
The company's working capital decreased in the period by
4% |
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Tangible Net Worth |
Net worth reduced by 76,056 during the period and now
stands at GBP 1,979,550,units |
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Fixed Assets |
The subjects fixed assets reduced during the period by GBP
3,388 to GBP 23,425,units and are now 1% of total assets compared
with 1% in the previous period |
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Long Term Liabilities |
Long term liabilities are now 0% of total assets compared
with 0% in the previous period |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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%)