MIRA INFORM REPORT
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Report Date : |
22.06.2011 |
IDENTIFICATION DETAILS
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Name : |
THE JEWELLERY CHANNEL LIMITED |
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JEWELS DIRECT LIMITED. |
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Registered Office : |
63-71 High Street, Hampton, Middlesex, TW12 1NH |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
15.12.2005 |
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Com. Reg. No.: |
05654854 |
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Legal Form : |
Private Limited |
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Line of Business : |
sale of jewellery via a television shopping
channel |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Poor |
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Payment
Behaviour : |
Unknown |
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Litigation : |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United Kingdom |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Identification Details
Official Company Data
Operations
Historical Rating
Previous Searches
Public Record Information
Summary of Mortgages, Charges and
Satisfactions
Details of most recent Mortgages, Charges
and Satisfactions
Other Filings and Notices
Company Secretary
Directors
Share Capital
Financial Data– Statutory Accounts
Profit and Loss
The following
figures are shown in units of 1000
Balance Sheet
The following
figures are shown in units of 1000
Financial Comparison
The following figures
are shown in units of 1000
Key Credit
Ratios
The following
figures are shown as Ratios or Percentages
Key Industry Sector Trends
Financial Summary
Auditors Qualification The Auditors have either qualified their opinion on the accounts for 31/03/2010 or emphasised a matter of fundamental uncertainty. The qualification/matter specifically relates to the going concern concept which has only been adopted assuming certain parties continue their financial support. Turnover Turnover increased by 25 % in the period and now totals GBP 23,081,000. Operating Profit Totalled GBP 2,503,000. In the year prior a Loss of GBP 7,664,000 was achieved. Pre Tax Profit The subject made a profit of GBP 2,391,000 in the period compared with a loss in the previous period of GBP 7,782,000. Pre Tax Profit The company's pre-tax profit is 10 % of sales compared with a pre-tax loss of 42% in the previous period and was 25% of capital employed. Working Capital The company's working capital deficiency reduced in the period and now stands at GBP 10,764,000. Net Worth The company's negative net worth decreased by GBP -2,391,000 and at the year end was GBP 11,742,000. Fixed Assets The subject's fixed assets increased during the year by GBP 360,000 to GBP 1,527,000 and are now 27 % of total assets compared with 21 % in the previous year. Long Term Liabilities The company's long term liabilities increased during the period by 12% and are now 21 % of net worth compared with 16 % in the previous period. Long Term Liabilities Long term liabilities are now 45 % of total liabilities compared with 42 % in the previous period. Long Term Liabilities Long term liabilities are 27 % of capital employed, a decrease of 8 % over the previous period. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.91 |
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UK Pound |
1 |
Rs.72.90 |
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Euro |
1 |
Rs.64.48 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.