MIRA INFORM REPORT

 

 

Report Date :

19.01.2011

 

IDENTIFICATION DETAILS

 

Name :

LAWRENCE BLUNT LIMITED

 

 

Registered Office :

Shelley Stock Hutter, 1st Floor, 7-10 Chandos Street, London, W1G 9DQ.

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.05.2010

 

 

Date of Incorporation :

13.01.1989

 

 

Com. Reg. No.:

02334973

 

 

Legal Form :

Private Limited

 

 

Line of Business :

The import, manufacture and distribution 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

 

Status :

Good

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

LAWRENCE BLUNT LIMITED

Registration Number

02334973

VAT Number

GB564317244

Address

84 HATTON GARDEN, LONDON, EC1N 8JR.

Telephone

020 78319866

 

 

 

 

Official Company Data

 

 

Legal Form

Private Limited

Registration Number

02334973

VAT Number

GB564317244

Subject Status

Trading

Date of Incorporation

13/01/1989

Registered Office

SHELLEY STOCK HUTTER, 1ST FLOOR, 7-10 CHANDOS STREET, LONDON, W1G 9DQ.

History

14/07/2006 : The Registered Office address changed from 2ND FLOOR, 45 MORTIMER STREET, LONDON, W1W 8.

 

29/07/2000 : The Registered Office address changed from 2ND FLOOR 45 MORTIMER STREET, LONDON, W1N 7T.

 

18/08/1998 : The Registered Office address changed from 45 MORTIMER STREET, LONDON, W1N 7TD, W1N 7TD.

 

14/04/1994 : The Registered Office address changed from 3RD FLOOR, 23-25 EASTCASTLE STREET, LONDON, W.

Date of Last Annual Return to Registry

09/07/2010

Registered Objectives

TO CARRY ON BUSINESS AS DEALERS IN JEWELLERY

Accounts

The last filed accounts at Companies House are those to 31/05/2010

Accounting Reference Date

31/05

 

 

 

Operations

 

 

Activities

The import, manufacture and distribution of jewellery.

Nace Code

5147

Premises

Leased,Offices,Warehouse

Staff Employed

18

Import Countries

MIDDLE EAST

Export Countries

No Export Activity

Bankers

BARCLAYS BANK PLC

Address

HATTON GARDEN (CORPORATE), LONDON.

Sort Code

203775

Auditors

Shelley Stock Hutter LLP

Branches

84 HATTON GARDEN, LONDON, EC1N 8JR.

 

 

 

 

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

5

Number Outstanding

1

Number Partially Satisfied

0

Number Satisfied

4

 

 

Date of Latest Mortgage Created

23/04/1996

Date of Latest Satisfaction

12/12/1997

 

 

 

Details of most recent Mortgages, Charges and Satisfactions

 

 

Date Fully
Satisfied

Date
Registered

Date
Created

Charge
Description

Form Type

Lender

 

29/04/1996

23/04/1996

Debenture

395

Barclays Bank Plc

12/12/1997

12/08/1993

30/07/1993

Debenture

395

Aitken Hume Bank Plc

17/03/1993

12/07/1989

03/07/1989

Debenture

N/A

Royal Bank Of Scotland Plc

15/10/1993

30/07/1992

17/07/1992

Guarantee Debenture

N/A

Barclays Bank Plc

15/10/1993

25/03/1991

14/03/1991

Debenture

N/A

Barclays 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

 

03/12/1992

Companies House Gazette

Change among directors of a company

15/03/1991

Companies House Gazette

Change among directors of a company

25/01/1989

Companies House Gazette

Change among directors of a company

 

 

 

Company Secretary

 

 

Secretary

MR RICHARD CHARLES BLUNT

Service Address

REYNOLDS, NUGENTS PARK, HATCH END, MIDDLESEX, HA5 4RA.

Country of Origin

UNITED KINGDOM

Date of Birth

18/04/1956

Appointment Date

09/07/1991

Other Directorships

LOGISTICS LONDON LIMITED, LOGISTICS LONDON (EDMONTON) LIMITED, LOGISTICS LONDON (THURROCK) LIMITED, LOGISTICS LONDON (CROYDON) LTD

 

 

 

Directors

 

 

Director

MR RICHARD CHARLES BLUNT

Service Address

REYNOLDS, NUGENTS PARK, HATCH END, MIDDLESEX, HA5 4RA.

Country of Origin

UNITED KINGDOM

Date of Birth

18/04/1956

Appointment Date

09/07/1991

Other Directorships

LOGISTICS LONDON LIMITED, LOGISTICS LONDON (EDMONTON) LIMITED, LOGISTICS LONDON (THURROCK) LIMITED, LOGISTICS LONDON (CROYDON) LTD


Director


MR LAURENCE JAMES BLUNT

Service Address

25 BURKES ROAD, BEACONSFIELD, BUCKINGHAMSHIRE, HP9 1PB.

Country of Origin

UNITED KINGDOM

Date of Birth

16/02/1958

Appointment Date

09/07/1991

Other Directorships

GEM RING COMPANY LIMITED


Director


CLIVE NEWTON ROSS FIELD

Service Address

MAGNOLIA HOUSE, 24 FOREST LANE, CHIGWELL, ESSEX, IG7 5AE.

Country of Origin

UNITED KINGDOM

Date of Birth

14/12/1949

Appointment Date

01/10/1992

Other Directorships

C.N. ROSS-FIELD MANUFACTURING JEWELLERS LIMITED, GEM RING COMPANY LIMITED

 

 

 

Share Capital

 

 

Shares

Ordinary GBP 1.00

Issued Number

315

Principal Shareholder

105 Laurence James Blunt

 

105 Clive Newton Ross Field

 

105 Richard Blunt

 

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

 

 

 

 

Financial Data– Statutory Accounts

 

 

For annual accounts images, view the

 

 

Profit and Loss

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/05/2010

31/05/2009

31/05/2008

31/05/2007

Currency

GBP

GBP

GBP

GBP

SALES

6454

7617

6195

6693

UK sales

6161

7306

5906

6443

Export

293

311

289

250

Cost of goods sold

4947

6251

5032

5408

GROSS PROFIT

1507

1366

1163

1285

Wages and Salaries

586

552

556

572

Directors Emoluments

 

112

118

117

Auditors Fees

14

18

18

16

Trading Profit

467

299

92

234

Depreciation

30

34

46

49

OPERATING PROFIT

437

265

46

185

Interest Payable

11

25

36

39

PRE TAX PROFIT

426

240

10

146

Taxation

125

72

14

34

PROFIT AFTER TAX

301

168

(4)

112

Dividends Payable

300

 

 

 

RETAINED PROFITS

1

168

(4)

112

 

 

 

 

 

Balance Sheet

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/05/2010

31/05/2009

31/05/2008

31/05/2007

Currency

GBP

GBP

GBP

GBP

TOTAL FIXED ASSETS

100

103

138

184

Tangible Assets

100

103

138

184

Fixed Assets

100

103

138

184

TOTAL CURRENT ASSETS

2831

3498

3042

3356

Trade debtors

1596

1324

1206

1130

Stocks

1156

2112

1767

2148

Other Current Assets

79

62

69

78

Misc Current Assets

58

62

69

78

Cash

21

 

 

 

TOTAL ASSETS

2931

3601

3180

3540

TOTAL CURRENT LIABILITIES

1408

2080

1820

2156

Trade creditors

912

1230

1271

1224

Short Term Loans

 

577

444

751

Bank Overdraft

 

570

424

710

Bank Loans

 

 

 

21

Other Finance

 

7

20

20

Other Liabilities

496

273

105

181

WORKING CAPITAL

1423

1418

1222

1200

TOTAL LONG TERM LIABS

 

 

7

27

Long Term Loans

 

 

7

27

Other Finance

 

 

7

27

NET ASSETS/(LIABILITIES)

1523

1521

1353

1357

SHARE CAPITAL + RESERVES

1523

1521

1353

1357

Share Cap + Sundry Res

100

100

100

100

Sundry Reserves

100

100

100

100

Profit and Loss account

1423

1421

1253

1257

SHAREHOLDERS FUNDS

1523

1521

1353

1357

CAPITAL EMPLOYED

1523

1521

1360

1384

 

 

Financial Comparison

 

 

The following figures are shown in units of 1000

 

Number of Weeks

52

52

52

52

Accounts Date

31/05/2010

31/05/2009

31/05/2008

31/05/2007

Currency

GBP

GBP

GBP

GBP

Net Cashflow from Oper.

1008

(88)

397

(166)

Increase in Cash

591

(146)

286

(590)

Directors Remuneration

 

112

118

117

Auditors Remuneration

14

18

18

16

Liquid Assets

1617

1324

1206

1130

Net Working Capital

1423

1418

1222

1200

Long Term Debt(>12 Months)

 

 

7

27

Tangible Net Worth(T.N.W)

1523

1521

1353

1357

Equity

1523

1521

1353

1357

Number of Years Trading

21

20

19

18

Number of Employees

18

17

18

22

Profit per Employee

23666.7

14117.6

555.6

6636.4

Sales per Employee

358555.6

448058.8

344166.7

304227.3

 

 

Key Credit Ratios

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

31/05/2010

31/05/2009

31/05/2008

31/05/2007

Current Ratio

2

1.7

1.7

1.6

Long Term Debt/T.N.W

 

 

 

 

Pre Tax Profit Margin%

6.6

3.2

0.2

2.2

Gross Profit%

23.3

17.9

18.8

19.2

Debtors Days (D.S.O)

90

63

71

62

Creditors Days (D.P.O)

52

59

75

67

Quick Ratio

1.2

0.7

0.7

0.6

W.I.P/Inventory Days

85.3

123.3

128.2

145

Return on Investment%

28.7

12.6

2.5

8.7

Return on Assets%

14.5

6.7

0.3

4.1

T.N.W/Total Assets%

52

42.2

42.5

38.3

Return on Capital%

28

15.8

0.7

10.5

Rtn on Shareholders Funds%

28

15.8

0.7

10.8

Working Capital/Sales%

22

18.6

19.7

17.9

Borrowing Ratio%

 

37.9

33.3

57.3

Equity Gearing%

108.2

73.1

74.1

62.2

Stock Turnover

5.6

3.6

3.5

3.1

Days Purchases Outstanding

67.3

71.8

92.2

82.6

Sales/Fixed Assets

64.5

74

44.9

36.4

Debt Gearing

 

 

0.5

2

 

 

 

Key Industry Sector Trends

 

 

Year

2010

2009

2008

2007

Sample Size

3052

11316

11648

11880

Pre-Tax Profit Margin

3.2

1.7

1.6

2.6

Current Ratio

1.8

1.7

1.6

1.6

Borrowing Ratio

37.9

54.9

59.3

58.4

Return on Capital

26.5

23.4

27.4

30.1

Creditors Days

49

81

69

82

 

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Wholesale of household goods

 

 

 

 

Financial Summary

 

 

Auditors Qualification

The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 31/05/2010.

 

Turnover

Turnover decreased by more than 10 % in the year and totalled GBP 6,454,000 for the period.

 

Operating Profit

Totalled GBP 437,000. In the year prior a Profit of GBP 265,000 was achieved.

 

Pre Tax Profit

The subject's profit increased by 77 % in the year.

 

Fixed Assets

The subject's fixed assets reduced during the year by GBP 3,000 to GBP 100,000 and are now 3 % of total assets compared with 2 % in the previous year.



FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.45.53

UK Pound

1

Rs.72.56

Euro

1

Rs.60.62

 

 

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.