MIRA INFORM REPORT

 

 

Report Date :

26.02.2010

 

IDENTIFICATION DETAILS

 

Name :

CLARK DIAMONDS LIMITED

 

 

Formerly Known As :

SKYDREAM MARKETING LIMITED.

 

 

Registered Office :

62 Tenby Street North, Birmingham, West Midlands, B1 3eg.

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.06.2010

 

 

Date of Incorporation :

06.09.1984

 

 

Com. Reg. No.:

01846352

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Diamond merchants.

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – June 30, 2010

 

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company Identification Details

 

Subject Reported on

CLARK DIAMONDS LIMITED

Registration Number

01846352

Address

62 TENBY STREET NORTH, BIRMINGHAM, WEST MIDLANDS, B1 3EG.

Telephone

0121 236 1724

 

 

Creditline Recommendations

 

Monthly Credit Guide

GBP 114,000

Risk Category

LOW RISK

 

 

 

 

 

Official Company Data

 

 

Legal Form

Private Limited

Registration Number

01846352

Subject Status

Trading

Date of Incorporation

06/09/1984

Registered Office

62 TENBY STREET NORTH, BIRMINGHAM, WEST MIDLANDS, B1 3EG.

History

15/02/2006 : The Registered Office address changed from 62 TENBY STREET NORTH, BIRMINGHAM, WEST MIDLA.

 

8/11/1993 : Change of name from CLARK DIAMONDS (BIRMINGHAM) LIMITED.

 

22/10/1993 : The Registered Office address changed from REGENT HOUSE, FREDERICK STREET, BIRMINGHAM, B.

 

23/10/1984 : Change of name from SKYDREAM MARKETING LIMITED.

Date of Last Annual Return to Registry

19/01/2011

Accounts

The last filed accounts at Companies House are those to 30/06/2010

Accounting Reference Date

30/06

 

 

 

Operations

 

 

Activities

Diamond merchants.

Nace Code

5156

Staff Employed

11

Bankers

HSBC BANK PLC

Address

WEST BROMWICH HIGH STREET.

Sort Code

404613

Auditors

RSM Tenon Audit Ltd

Branches

62 TENBY STREET NORTH, BIRMINGHAM, WEST MIDLANDS, B1 3EG.

 

 

 

 

Previous Searches

 

Search History Summary

 

Last 3 Months

Last 6 Months

Last 12 Months

0

1

1

 

Search History Details

 

The Search History Details shows details of the most recent 40 searches

 

Date

Description

05/11/2010

Other credit granting

26/10/2006

Other credit granting

 

 

 

Public Record Information

 

 

Summary of CCJ's/Scottish Decrees

 

No CCJs/Scottish Decrees are recorded in our file.

 

 

Summary of Mortgages, Charges and Satisfactions

 

 

Total Number of Mortgages/Charges Registered

2

Number Outstanding

2

Number Partially Satisfied

0

Number Satisfied

0

 

 

Date of Latest Mortgage Created

03/09/2003

 

 

 

 

 

 

 

Details of most recent Mortgages, Charges and Satisfactions

 

 

Date Fully
Satisfied

Date
Registered

Date
Created

Charge
Description

Form Type

Lender

 

10/09/2003

03/09/2003

Debenture

395

Hsbc Bank Plc

 

23/11/1984

16/11/1984

Charge

N/A

Midland Bank Plc

 

It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.

 

 

 

Other Filings and Notices

 

 

Date

Source

Description

 

05/04/2004

Companies House Gazette

Change among directors of a company

08/09/1990

Companies House Gazette

Alteration in memorandum or articles of association

31/03/1990

Companies House Gazette

Change among directors of a company

09/04/1988

Companies House Gazette

Documents delivered by a company under section 241 (annual accounts)

22/08/1987

Companies House Gazette

Change in the situation of a company's registered office

08/06/1985

Companies House Gazette

Alteration in memorandum or articles of association

 

 

 

Company Secretary

 

 

Secretary

MRS LYNN CHRISTINA RICHARDSON

Service Address

33 DOVERIDGE ROAD, HALL GREEN, BIRMINGHAM, WEST MIDLANDS, B28 0LT.

Country of Origin

UNITED KINGDOM

Appointment Date

01/11/2003

 

 

 

Directors

 

 

Director

MARK COLEMAN BARROWS

Service Address

REDHILL HOUSE, BROMSGROVE ROAD, HUNNINGTON, WEST MIDLANDS, B62 0JS.

Country of Origin

UNITED KINGDOM

Date of Birth

24/03/1954

Appointment Date

19/01/1993

 

 

 

 

Share Capital

 

 

Shares

Ordinary GBP 1.00

Issued Number

3,000

Principal Shareholder

3,000 Mark Coleman Barrows

 

The above reflects the principle shareholder(s) by number of shares held, irrespective of share classification type.

 

 

 

 

Financial Data– Statutory Accounts

 

 

 

Profit and Loss

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

30/06/2010

30/06/2009

30/06/2008

30/06/2007

Currency

GBP

GBP

GBP

GBP

SALES

9275

6977

7684

 

Cost of goods sold

7608

5658

5942

 

GROSS PROFIT

1667

1319

1742

1597

Wages and Salaries

825

713

674

619

Directors Emoluments

330

329

321

308

Auditors Fees

8

8

8

8

Trading Profit

400

238

732

624

Depreciation

11

14

18

11

OPERATING PROFIT

389

224

714

613

Non Trading Income

 

21

33

26

PRE TAX PROFIT

389

245

747

639

Taxation

91

53

200

170

PROFIT AFTER TAX

298

192

547

469

Dividends Payable

300

300

300

300

RETAINED PROFITS

(2)

(108)

247

169

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance Sheet

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

30/06/2010

30/06/2009

30/06/2008

30/06/2007

Currency

GBP

GBP

GBP

GBP

TOTAL FIXED ASSETS

35

45

58

40

Tangible Assets

35

45

58

40

Fixed Assets

35

45

58

40

TOTAL CURRENT ASSETS

5115

4513

4603

4142

Trade debtors

1649

1571

1575

1500

Stocks

2845

2138

2129

2076

Other Current Assets

621

804

899

566

Misc Current Assets

35

33

20

25

Cash

586

771

879

541

TOTAL ASSETS

5150

4558

4661

4182

TOTAL CURRENT LIABILITIES

2332

1738

1733

1501

Trade creditors

1214

1001

854

813

Short Term Loans

569

334

416

300

Due To Directors

569

334

416

300

Other Liabilities

549

403

463

388

WORKING CAPITAL

2783

2775

2870

2641

NET ASSETS/(LIABILITIES)

2818

2820

2928

2681

SHARE CAPITAL + RESERVES

2818

2820

2928

2681

Share Cap + Sundry Res

9

9

9

9

Issued Share Capital

3

3

3

3

Sundry Reserves

6

6

6

6

Profit and Loss account

2809

2811

2919

2672

SHAREHOLDERS FUNDS

2818

2820

2928

2681

CAPITAL EMPLOYED

2818

2820

2928

2681

 

 

Financial Comparison

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

30/06/2010

30/06/2009

30/06/2008

30/06/2007

Currency

GBP

GBP

GBP

GBP

Net Cashflow from Oper.

169

372

809

563

Increase in Cash

(185)

(108)

338

16

Directors Remuneration

330

329

321

308

Auditors Remuneration

8

8

8

8

Liquid Assets

2235

2342

2454

2041

Net Working Capital

2783

2775

2870

2641

Tangible Net Worth(T.N.W)

2818

2820

2928

2681

Equity

2818

2820

2928

2681

Number of Years Trading

26

25

24

23

Number of Employees

11

11

11

10

Profit per Employee

35363.6

22272.7

67909.1

63900

Sales per Employee

843181.8

634272.7

698545.5

 

 

 

 

 

 

Key Credit Ratios

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

30/06/2010

30/06/2009

30/06/2008

30/06/2007

Current Ratio

2.2

2.6

2.7

2.8

Pre Tax Profit Margin%

4.2

3.5

9.7

 

Gross Profit%

18

18.9

22.7

 

Debtors Days (D.S.O)

65

82

75

 

Creditors Days (D.P.O)

48

52

41

 

Quick Ratio

1

1.4

1.4

1.4

W.I.P/Inventory Days

136.5

137.9

130.8

 

Return on Investment%

11.5

7.8

22.3

21.4

Return on Assets%

7.6

5.4

16

15.3

T.N.W/Total Assets%

54.7

61.9

62.8

64.1

Return on Capital%

13.8

8.7

25.5

23.8

Rtn on Shareholders Funds%

13.8

8.7

25.5

23.8

Working Capital/Sales%

30

39.8

37.4

 

Borrowing Ratio%

20.2

11.8

14.2

11.2

Equity Gearing%

120.8

162.3

169

178.6

Stock Turnover

3.3

3.3

3.6

 

Days Purchases Outstanding

58.2

64.6

52.5

 

Sales/Fixed Assets

265

155

132.5

 

 

 

 

Key Industry Sector Trends

 

 

Year

2010

2009

2008

2007

Sample Size

2755

6421

6565

6654

Pre-Tax Profit Margin

3.6

2.6

3.7

4.5

Current Ratio

1.6

1.7

1.5

1.5

Borrowing Ratio

78.6

93.6

104.6

109.1

Return on Capital

21.6

20.3

25.6

30.6

Creditors Days

53

51

54

75

 

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Wholesale of non-agricultural intermediate products, waste and scrap

 

 

 

Financial Summary

 

 

Auditors Qualification

The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 30/06/2010.

 

Turnover

Turnover increased by 33 % in the period and now totals GBP 9,275,000.

 

Operating Profit

Totalled GBP 389,000. In the year prior a Profit of GBP 224,000 was achieved.

 

Pre Tax Profit

The subject's profit increased by 58 % in the year.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.73.24

Euro

1

Rs.62.68

 

 

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

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

----

NB

New Business

----

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.