MIRA
INFORM REPORT
|
Report Date : |
02.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
J.S.N. JEWELLERY UK LIMITED |
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Registered Office : |
19-20 Bourne Court, Southend Road, Woodford Green, Essex
IG8 8HD |
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Country : |
United kingdom |
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Financials (as on) : |
31.08.2006 |
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Date of Incorporation : |
05.05.1998 |
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Com. Reg. No.: |
03557501 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
Distributors, Manufacturers and Wholesalers of
Jewellery |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
J.S.N. JEWELLERY UK LIMITED |
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Trading Address |
UNIT 10 CANONBURY YARD,BUILDING 2 190A NEW NORTH
RD,LONDON,N1 7BJ |
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Telephone |
020-7359-2223 |
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This company has an average risk status and should be
treated with a degree of caution |
Official Company Data
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|
Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
03557501 |
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Date of Incorporation |
05/05/1998 |
|
Registered Office |
19-20 Bourne Court, Southend Road, Woodford Green, Essex
IG8 8HD |
|
Date of Last Annual Return to
Registry |
05/05/2007 |
|
Activities |
Distributors, manufacturers and wholesalers of
jewellery |
|
Accounts |
The last filed accounts cover the period to 31/08/2006 and
were filed on 06/07/2007 |
Recently Filed Documents
Details
of the most recent documents
|
Date
Received |
Description |
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05/05/2007 |
Annual Return |
|
31/08/2006 |
Financial Statement / Set of Accounts |
|
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 |
64, JARDIN DR , CONCORD ONTARIO L4K 3P3
, CANADA , |
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Country of Origin |
CANADIAN |
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Date of Birth |
03/01/1959 |
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Appointment Date |
05/05/1998 |
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Other Appointments |
J.S.N. JEWELLERY UK LIMITED |
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DIRECTOR |
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Occupation |
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Address |
29, LINGWOOD ROAD , LONDON , E5 9BN |
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Country of Origin |
BRITISH |
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Date of Birth |
10/10/1970 |
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Appointment Date |
01/05/2001 |
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Other Appointments |
CHILTERN ENTERPRISES LIMITED, DRAYLIN
LIMITED, FIRSTQUEST ESTATES LTD, GROVEHEIGHT ESTATES
LTD, J.S.N. JEWELLERY UK LIMITED, REALAIM LIMITED, SOLARLIGHT
LIMITED, TOPACTIVE ESTATES LTD, TRIPLEBEAM LTD, WENWELL
LTD, ZICHRON AHRON TRUST LTD |
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SECRETARY |
MR DAVID SAURYMPER |
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|
Address |
29 LINGWOOD ROAD, , LONDON , E5 9BN |
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Country of Origin |
BRITISH |
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Date of Birth |
10/10/1970 |
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Appointment Date |
17/04/2001 |
Recently Resigned Directors (last
3)
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DIRECTOR |
MOSES SAURYMPER |
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Address |
64 , FILEY AVENUE , LONDON , - - |
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Date of Birth |
20/12/1971 |
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Resignation Date |
31/03/2000 |
Share Summary
Share information is not held for this company.
Mortgages and Charges
|
|
|
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Total Registered |
3 |
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Total Outstanding |
3 |
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Total Satisfied |
0 |
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Most Recent Mortgage |
27/11/2007 |
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Date Registered |
06/12/2007 |
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Type |
395 |
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Date Created |
27/11/2007 |
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Lender |
NATIONAL WESTMINSTER 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 |
|
Details |
FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL
PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL, UNCALLED CAPITAL,
BUILDINGS, FIXTURES, FIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE
DOCUMENT FOR FULL DETAILS |
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Satisfied? |
No |
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Date Registered |
18/07/2002 |
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Type |
395 |
|
Date Created |
08/07/2002 |
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Lender |
THE ROYAL BANK OF SCOTLAND COMMERCIAL SERVICES LIMITED |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR
EVIDENCING THE CHARGE |
|
Details |
FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL
PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED
CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE
DOCUMENT FOR FULL DETAILS |
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Satisfied? |
No |
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|
|
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Date Registered |
20/10/2000 |
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Type |
395 |
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Date Created |
16/10/2000 |
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Lender |
BARCLAYS 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 |
|
Details |
FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL
PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED
CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY |
|
Satisfied? |
No |
Public Record Information
Summary
of CCJ's/Scottish Decrees
There are no unsatisfied CCJs against the company.
Operations
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Activities |
Distributors, manufacturers and wholesalers of jewellery
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Sic Code |
Description |
|
7484 |
Other business activities not elsewhere classified |
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3622 |
Manufacture of jewellery and related articles not
elsewhere classified |
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5248 |
Other retail sale in specialised stores |
|
Staff Employed |
14 |
|
Auditors |
Raffingers Stuart |
|
Auditors Notes |
No Qualification. The Auditors have expressed a clean
opinion (i.e. unqualified with no referrals) on the latest accounts. |
|
Bankers |
Barclays Bank PLC |
|
Sort Codes |
205706 |
Financial Data
Profit and Loss
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/08/2006 |
31/08/2005 |
31/08/2004 |
31/08/2003 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
units |
units |
units |
units |
|
Consolidated? |
No |
No |
No |
No |
|
GROSS PROFIT |
1,647,366 |
1,342,429 |
1,283,274 |
1,098,444 |
|
General administration costs (-) |
1,349,419 |
1,148,726 |
1,452,791 |
834,126 |
|
Wages and Salaries |
114,550 |
133,460 |
654,092 |
109,161 |
|
Depreciation |
5,644 |
5,149 |
1,826 |
1,791 |
|
Net Operating Profit(Loss) |
297,947 |
193,703 |
-169,517 |
264,318 |
|
Non Trading Income |
3,521 |
- |
- |
- |
|
Total Non Trading Income |
3,521 |
0 |
0 |
0 |
|
Interest expenses & similar (-) |
137,672 |
122,525 |
77,787 |
60,921 |
|
Financial Expenses |
137,672 |
122,525 |
77,787 |
60,921 |
|
PRE TAX PROFIT |
163,796 |
71,178 |
-247,304 |
203,397 |
|
Other Taxation |
2,234 |
0 |
0 |
0 |
|
Taxation |
30,841 |
11,136 |
-45,302 |
45,301 |
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PROFIT AFTER TAX |
130,721 |
60,042 |
-202,002 |
158,096 |
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Net Profit |
130,721 |
60,042 |
- |
158,096 |
|
Dividends Payable |
25,000 |
0 |
51,250 |
19,000 |
|
RETAINED PROFITS |
105,721 |
60,042 |
- |
139,096 |
Balance Sheet
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/08/2006 |
31/08/2005 |
31/08/2004 |
31/08/2003 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
units |
units |
units |
units |
|
Consolidated? |
No |
No |
No |
No |
|
TOTAL FIXED ASSETS |
34,139 |
29,173 |
10,350 |
10,155 |
|
Land & buildings |
6,220 |
7,318 |
- |
- |
|
Plant, machinery & equipment |
27,919 |
21,855 |
10,350 |
10,155 |
|
TOTAL CURRENT ASSETS |
4,752,159 |
4,624,124 |
3,001,549 |
2,338,179 |
|
Stocks |
424,798 |
857,469 |
546,610 |
333,817 |
|
Trade Debtors |
4,091,213 |
3,600,022 |
2,301,779 |
1,983,151 |
|
Other Receivables |
228,045 |
160,200 |
104,389 |
1,989 |
|
Prepaid expenses |
5,297 |
3,797 |
2,793 |
8,610 |
|
Cash |
2,806 |
2,636 |
676 |
10,612 |
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TOTAL ASSETS |
4,786,298 |
4,653,297 |
3,011,899 |
2,348,334 |
|
TOTAL CURRENT LIABILITIES |
4,182,622 |
4,157,576 |
2,576,220 |
1,659,403 |
|
Trade Creditors |
2,359,055 |
2,691,871 |
833,137 |
863,104 |
|
Bank Overdraft |
249,263 |
89,423 |
48,232 |
- |
|
Loans From Principals |
39,503 |
35,714 |
272,194 |
- |
|
Taxes |
49,628 |
18,260 |
238,966 |
69,106 |
|
Other Current Liabilities |
1,420,280 |
1,302,298 |
1,075,191 |
718,593 |
|
Accruals & deferred income |
64,893 |
20,010 |
8,500 |
8,600 |
|
WORKING CAPITAL |
569,537 |
466,548 |
425,329 |
678,776 |
|
TOTAL LONG TERM LIABS |
2,234 |
0 |
0 |
0 |
|
Taxation |
2,234 |
- |
- |
- |
|
NET ASSETS/(LIABILITIES) |
603,676 |
495,721 |
435,679 |
688,931 |
|
SHARE CAPITAL + RESERVES |
601,442 |
495,721 |
435,679 |
688,931 |
|
Issued Share Capital |
350,100 |
350,100 |
350,100 |
350,100 |
|
Profit and Loss account |
251,342 |
145,621 |
85,579 |
338,831 |
|
SHAREHOLDERS FUNDS |
601,442 |
495,721 |
435,679 |
688,931 |
|
CAPITAL EMPLOYED |
603,676 |
495,721 |
435,679 |
688,931 |
|
TANGIBLE NET WORTH |
601,442 |
495,721 |
435,679 |
688,931 |
Key Credit Ratios
|
Accounts Date |
31/08/2006 |
31/08/2005 |
31/08/2004 |
31/08/2003 |
|
Current Ratio |
1.14 |
1.11 |
1.17 |
1.41 |
|
Profit Before Tax |
- |
- |
- |
0.04 |
|
Creditors Days (D.P.O) |
- |
- |
- |
72.10 |
|
Quick Ratio |
1.03 |
0.91 |
0.95 |
1.21 |
|
Return on Assets |
3.42 |
1.53 |
-8.21 |
8.66 |
|
T.N.W/Total Assets |
0.13 |
0.11 |
0.14 |
0.29 |
|
Return on Capital |
27.13 |
14.36 |
-56.76 |
29.52 |
|
Working Capital/Sales |
- |
- |
- |
0.00 |
|
Equity Gearing |
2.69 |
- |
- |
- |
|
Stock Turnover |
- |
- |
- |
0.00 |
|
Solvency (%) |
695.80 |
838.69 |
591.31 |
240.87 |
Financial Summary
|
Operating Profit |
Totalled GBP 297,947,units In the period prior a
profit of GBP 193,703,units was achieved. |
|
Pre Tax |
The subject made a profit of GBP 163,796,units
compared with a profit of GBP 71,178,units in the previous period. |
|
Working Capital |
The company's working capital improved in the period by
22% |
|
Tangible
Net Worth |
Net worth increased by 105,721 during the period and now
stands at GBP 601,442,units |
|
Fixed
Assets |
The subjects fixed assets increased during the period by
GBP 4,966 to GBP 34,139,units and are now 1% of total assets
compared with 1% in the previous period |
|
Long
Term Liabilities |
Long term liabilities are now 0% of total assets compared
with 0% 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 |
|
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 |
|
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%)