MIRA
INFORM REPORT
|
Report Date : |
04.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
INTERNATIONAL BULLION AND METAL BROKERS
(LONDON) LIMITED |
|
|
|
|
Registered Office : |
Kovacs House Hatton Garden , London, Ec1n 8jd |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
31.07.1974 |
|
|
|
|
Com. Reg. No.: |
01179277 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Wholesale of watches and jewellery |
|
|
|
|
No. of Employees : |
38 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
United
Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
REGISTERED NAME & COMPANY
SUMMARY
|
Company Name |
INTERNATIONAL BULLION
AND METAL BROKERS (LONDON) LIMITED |
Company Number |
01179277 |
|
Registered Address |
KOVACS HOUSE HATTON
GARDEN |
Trading Address |
INTERNATIONAL BULLION
AND METAL |
|
|
LONDON |
|
|
|
|
|
|
|
|
|
EC1N 8JD |
|
|
|
Website Address |
|
|
|
|
Telephone Number |
02070252500 |
Fax Number |
|
|
TPS |
No |
FPS |
No |
|
Incorporation Date |
31/07/1974 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
|
Type |
Private limited with
Share Capital |
|
Date of Change |
- |
Filing Date of Accounts |
11/07/2011 |
|
|
|
Share Capital |
£11,500 |
|
SIC03 |
5147 |
Currency |
GBP |
|
SIC03 Description |
WHOLESALE OF OTHER
HOUSEHOLD GOODS |
||
|
SIC07 |
46480 |
||
|
SIC07 Description |
WHOLESALE OF WATCHES AND
JEWELLERY |
||
|
Principal Activity |
Operates as a dealer, importer
and wholesaler of precious metal jewellery. |
||
DIRECTORS/MANAGEMENT
Current Directors
|
Name |
Date of Birth |
02/10/1961 |
|
|
Officers Title |
Mr |
Nationality |
Australian |
|
Present Appointments |
9 |
Function |
Director |
|
Appointment Date |
01/02/1993 |
|
|
|
Address |
36 Lyonsdown
Avenue, , New Barnet, EN5 1DX |
||
|
Name |
Date of Birth |
10/08/1927 |
|
|
Officers Title |
Mr |
Nationality |
Australian |
|
Present Appointments |
3 |
Function |
Director |
|
Appointment Date |
01/02/1993 |
|
|
|
Address |
Kovacs Lodge,
Fishers Gate Withyham, Hartfield, TN7 4BB |
||
|
Name |
Date of Birth |
21/11/1952 |
|
|
Officers Title |
Mr |
Nationality |
Australian |
|
Present Appointments |
4 |
Function |
Director |
|
Appointment Date |
01/02/1993 |
|
|
|
Address |
11 Patmore Lane,
, Walton On Thames, KT12 5DX |
||
|
Name |
Date of Birth |
25/05/1951 |
|
|
Officers Title |
Mr |
Nationality |
Australian |
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
01/02/1993 |
|
|
|
Address |
180 East End
Avenue, Apartment 2g New York City, 10028 Ny, |
||
|
Name |
Date of Birth |
20/12/1957 |
|
|
Officers Title |
Mr |
Nationality |
Australian |
|
Present Appointments |
3 |
Function |
Director |
|
Appointment Date |
01/07/1994 |
|
|
|
Address |
Unit 2, 8
Clerkenwell Green, London, EC1R 0DE |
||
NEGATIVE INFORMATION
No exact match CCJs are recorded against the company
CCJ
|
Total Number of Exact
CCJs - |
Total Value of Exact
CCJs - |
||
|
Total Number of Possible
CCJs - |
Total Value of Possible
CCJs - |
||
|
Total Number of
Satisfied CCJs - |
Total Value of Satisfied
CCJs - |
||
|
Total Number of Writs - |
- |
|
|
Exact CCJ Details
There are no exact CCJ
details
Possible CCJ
Details
There are no possible CCJ
details
Writ Details
There are no writ details
SHARE & SHARE CAPITAL
INFORMATION
|
Year to Date |
Shareholder Funds |
|
31/03/2011 |
£6,194,373 |
|
31/03/2010 |
£6,221,854 |
|
31/03/2009 |
£6,253,058 |
Top 20
Shareholders
|
Name |
Individual Share Value |
|
INTERNATIONAL BULLION
& METAL BROKERS LTD |
8,640 ORDINARY GBP 1.00 |
|
LESLIE KOVACS |
715 ORDINARY GBP 1.00 |
|
DAVID ALEX KOVACS |
500 ORDINARY A GBP 1.00 |
|
MR FRANK KOVACS |
500 ORDINARY A GBP 1.00 |
|
STEPHEN KOVACS |
500 ORDINARY A GBP 1.00 |
|
MR FRANK KOVACS |
430 ORDINARY GBP 1.00 |
|
DAVID KOVACS |
215 ORDINARY GBP 1.00 |
PAYMENT INFORMATION
Sales in the latest trading period decreased 27.1% on the previous trading period.
GROUP STRUCTURE & AFFILIATED
COMPANIES
|
Statistics
|
Summary
|
Group structure
|
Company Name |
|
Registered Number |
Latest Key Financials |
Consol. Accounts |
Turnover |
|
|
|
N/A |
- |
- |
|
|
|
|
02250612 |
31.03.2011 |
N |
£4,764 |
|
|
|
01405384 |
31.03.2011 |
N |
|
|
|
|
01179277 |
31.03.2011 |
N |
£14,815,697 |
%20LIMITED%20%20-%20188890%2004-Aug-2012_files/image001.gif){kind=small}
STELLOY
LTD Statistics
|
Group |
|
|
Linkages |
1 companies |
|
Countries |
In 1 countries |
Other Linked
companies
|
|
Number |
Latest Key Financials |
||
|
I.B.B. (EUROPE) HOLDING
B.V. |
|
34207986 |
31.12.2010 |
|
FINANCIAL INFORMATION
|
Net Worth decreased by
0.4% during the latest trading period. |
|
A 4.4% decline in Total
Assets occurred during the latest trading period. |
|
Pre-tax profits decreased
by 3.2% compared to the previous trading period. |
|
The company saw an
increase in their Cash Balance of 999.9% during the latest trading period. |
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
31/03/2011 |
£14,815,697 |
£37,183 |
£6,194,373 |
38 |
|
31/03/2010 |
£20,312,933 |
£38,429 |
£6,221,854 |
39 |
|
31/03/2009 |
£21,475,045 |
£5,692 |
£6,253,058 |
40 |
Trade
Debtors / Bad Debt Summary
|
Total Number of
Documented Trade Debtors / Bad Debt - |
2 |
|
Total Value of
Documented Trade Debtors / Bad Debt - |
£13,698 |
Profit & Loss
|
Date
Of Accounts |
31/03/11 |
(%) |
31/03/10 |
(%) |
31/03/09 |
(%) |
31/03/08 |
(%) |
31/03/07 |
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
Consolidated
A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
Turnover |
£14,815,697 |
-27.1% |
£20,312,933 |
-5.4% |
£21,475,045 |
-18.8% |
£26,445,303 |
12.1% |
£23,599,745 |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost
of Sales |
£11,514,049 |
-32.1% |
£16,954,225 |
-7.3% |
£18,281,522 |
-19.3% |
£22,657,147 |
10.9% |
£20,437,772 |
|
Gross
Profit |
£3,301,648 |
-1.7% |
£3,358,708 |
5.2% |
£3,193,523 |
-15.7% |
£3,788,156 |
19.8% |
£3,161,973 |
|
Wages
& Salaries |
£1,529,029 |
-8.1% |
£1,663,988 |
3.7% |
£1,604,666 |
-20.5% |
£2,017,738 |
10.6% |
£1,823,801 |
|
Directors
Emoluments |
£511,642 |
-40.1% |
£854,087 |
0.3% |
£851,344 |
-23.1% |
£1,107,646 |
6.4% |
£1,041,161 |
|
Operating
Profit |
£46,001 |
-0.3% |
£46,133 |
-27.7% |
£63,814 |
-64.2% |
£178,255 |
254% |
-£115,722 |
|
Depreciation |
£286,543 |
-12.3% |
£326,881 |
-1.9% |
£333,183 |
-14.6% |
£390,320 |
11% |
£351,771 |
|
Audit
Fees |
£17,500 |
-12.5% |
£20,000 |
-2.7% |
£20,556 |
-6.6% |
£22,000 |
- |
£22,000 |
|
Interest
Payments |
£31,536 |
-38.6% |
£51,375 |
-62% |
£135,137 |
-31.7% |
£197,749 |
38.8% |
£142,495 |
|
Pre
Tax Profit |
£37,183 |
-3.2% |
£38,429 |
575.1% |
£5,692 |
-89.8% |
£55,927 |
133.2% |
-£168,205 |
|
Taxation |
-£64,664 |
7.1% |
-£69,633 |
-15% |
-£60,567 |
32.3% |
-£89,484 |
-999.9% |
-£6,499 |
|
Profit
After Tax |
-£27,481 |
11.9% |
-£31,204 |
43.1% |
-£54,875 |
-63.5% |
-£33,557 |
80.8% |
-£174,704 |
|
Dividends
Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Retained
Profit |
-£27,481 |
11.9% |
-£31,204 |
43.1% |
-£54,875 |
-63.5% |
-£33,557 |
80.8% |
-£174,704 |
Balance Sheet
|
Date Of Accounts |
31/03/11 |
(%) |
31/03/10 |
(%) |
31/03/09 |
(%) |
31/03/08 |
(%) |
31/03/07 |
|
Tangible Assets |
£1,957,644 |
-10.2% |
£2,179,215 |
-11.2% |
£2,453,986 |
-8% |
£2,666,510 |
-0.2% |
£2,670,585 |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Fixed Assets |
£1,957,644 |
-10.2% |
£2,179,215 |
-11.2% |
£2,453,986 |
-8% |
£2,666,510 |
-0.2% |
£2,670,585 |
|
Stock |
£1,528,155 |
-29.3% |
£2,161,511 |
-46.3% |
£4,024,070 |
12.9% |
£3,565,300 |
-24.1% |
£4,694,467 |
|
Trade Debtors |
£3,106,793 |
-13.1% |
£3,575,471 |
-14.8% |
£4,195,057 |
24.8% |
£3,361,292 |
-19% |
£4,150,980 |
|
Cash |
£812,719 |
999.9% |
£12,311 |
-58.4% |
£29,603 |
5.9% |
£27,959 |
-67.4% |
£85,663 |
|
Other Debtors |
£356,255 |
84.4% |
£193,169 |
-19.5% |
£240,109 |
7.3% |
£223,720 |
8.1% |
£206,931 |
|
Miscellaneous Current
Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
£5,803,922 |
-2.3% |
£5,942,462 |
-30% |
£8,488,839 |
18.3% |
£7,178,271 |
-21.4% |
£9,138,041 |
|
Trade Creditors |
£260,477 |
-19.8% |
£324,927 |
-72.9% |
£1,199,753 |
18.3% |
£1,014,236 |
-44.9% |
£1,840,954 |
|
Bank Loans &
Overdrafts |
0 |
-100% |
£101,096 |
-92.6% |
£1,362,623 |
86.2% |
£731,990 |
-44.7% |
£1,323,840 |
|
Other Short Term Finance |
£47,567 |
-79.4% |
£230,378 |
-73.7% |
£875,857 |
106.1% |
£424,981 |
-62.3% |
£1,126,405 |
|
Miscellaneous Current
Liabilities |
£504,194 |
2.2% |
£493,422 |
-0.9% |
£498,092 |
-16.8% |
£598,533 |
40.5% |
£425,937 |
|
Total Current
Liabilities |
£812,238 |
-29.4% |
£1,149,823 |
-70.8% |
£3,936,325 |
42.1% |
£2,769,740 |
-41.3% |
£4,717,136 |
|
Bank Loans &
Overdrafts and LTL |
£754,955 |
-11.3% |
£851,096 |
-59.8% |
£2,116,065 |
41.2% |
£1,499,098 |
-27.7% |
£2,073,840 |
|
Other Long Term Finance |
£754,955 |
0.7% |
£750,000 |
-0.5% |
£753,442 |
-1.8% |
£767,108 |
2.3% |
£750,000 |
|
Total Long Term
Liabilities |
£754,955 |
0.7% |
£750,000 |
-0.5% |
£753,442 |
-1.8% |
£767,108 |
2.3% |
£750,000 |
Capital &
Reserves
|
Date Of Accounts |
31/03/11 |
(%) |
31/03/10 |
(%) |
31/03/09 |
(%) |
31/03/08 |
(%) |
31/03/07 |
|
Called Up Share Capital |
£11,500 |
- |
£11,500 |
- |
£11,500 |
- |
£11,500 |
- |
£11,500 |
|
P & L Account
Reserve |
£6,182,873 |
-0.4% |
£6,210,354 |
-0.5% |
£6,241,558 |
-0.9% |
£6,296,433 |
-0.5% |
£6,329,990 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£6,194,373 |
-0.4% |
£6,221,854 |
-0.5% |
£6,253,058 |
-0.9% |
£6,307,933 |
-0.5% |
£6,341,490 |
Other Financial Items
|
Date Of Accounts |
31/03/11 |
(%) |
31/03/10 |
(%) |
31/03/09 |
(%) |
31/03/08 |
(%) |
31/03/07 |
|
Net Worth |
£6,194,373 |
-0.4% |
£6,221,854 |
-0.5% |
£6,253,058 |
-0.9% |
£6,307,933 |
-0.5% |
£6,341,490 |
|
Working Capital |
£4,991,684 |
4.2% |
£4,792,639 |
5.3% |
£4,552,514 |
3.3% |
£4,408,531 |
-0.3% |
£4,420,905 |
|
Total Assets |
£7,761,566 |
-4.4% |
£8,121,677 |
-25.8% |
£10,942,825 |
11.2% |
£9,844,781 |
-16.6% |
£11,808,626 |
|
Total Liabilities |
£1,567,193 |
-17.5% |
£1,899,823 |
-59.5% |
£4,689,767 |
32.6% |
£3,536,848 |
-35.3% |
£5,467,136 |
|
Net Assets |
£6,194,373 |
-0.4% |
£6,221,854 |
-0.5% |
£6,253,058 |
-0.9% |
£6,307,933 |
-0.5% |
£6,341,490 |
Cash Flow
|
Date Of Accounts |
31/03/11 |
(%) |
31/03/10 |
(%) |
31/03/09 |
(%) |
31/03/08 |
(%) |
31/03/07 |
|
Net Cashflow from
Operations |
£1,051,164 |
-21.7% |
£1,342,126 |
480.9% |
-£352,392 |
-137.8% |
£932,076 |
358% |
£203,522 |
|
Net Cashflow before
Financing |
£906,598 |
-27.9% |
£1,257,902 |
304.4% |
-£615,323 |
-233.7% |
£460,113 |
213.4% |
-£405,775 |
|
Net Cashflow from
Financing |
-£5,094 |
62.7% |
-£13,667 |
0% |
-£13,666 |
-33.7% |
-£10,225 |
- |
- |
|
Increase in Cash |
£901,504 |
-27.5% |
£1,244,235 |
297.8% |
-£628,989 |
-239.8% |
£449,888 |
210.9% |
-£405,775 |
Cash Flow
|
Date Of Accounts |
31/03/11 |
(%) |
31/03/10 |
(%) |
31/03/09 |
(%) |
31/03/08 |
(%) |
31/03/07 |
|
Net Cashflow from
Operations |
£1,051,164 |
-21.7% |
£1,342,126 |
480.9% |
-£352,392 |
-137.8% |
£932,076 |
358% |
£203,522 |
|
Net Cashflow before
Financing |
£906,598 |
-27.9% |
£1,257,902 |
304.4% |
-£615,323 |
-233.7% |
£460,113 |
213.4% |
-£405,775 |
|
Net Cashflow from
Financing |
-£5,094 |
62.7% |
-£13,667 |
0% |
-£13,666 |
-33.7% |
-£10,225 |
- |
- |
|
Increase in Cash |
£901,504 |
-27.5% |
£1,244,235 |
297.8% |
-£628,989 |
-239.8% |
£449,888 |
210.9% |
-£405,775 |
Ratios
|
Date Of Accounts |
31/03/11 |
31/03/10 |
31/03/09 |
31/03/08 |
31/03/07 |
|
Pre-tax profit margin % |
0.25 |
0.19 |
0.03 |
0.21 |
-0.71 |
|
Current ratio |
7.15 |
5.17 |
2.16 |
2.59 |
1.94 |
|
Sales/Net Working
Capital |
2.97 |
4.24 |
4.72 |
6 |
5.34 |
|
Gearing % |
12.20 |
13.70 |
33.80 |
23.80 |
32.70 |
|
Equity in % |
79.80 |
76.60 |
57.10 |
64.10 |
53.70 |
|
Creditor Days |
6.39 |
5.82 |
20.33 |
13.96 |
28.39 |
|
Debtor Days |
76.32 |
64.07 |
71.10 |
46.27 |
64.02 |
|
Liquidity/Acid Test |
5.26 |
3.28 |
1.13 |
1.30 |
0.94 |
|
Return On Capital
Employed % |
0.53 |
0.55 |
0.08 |
0.79 |
-2.37 |
|
Return On Total Assets
Employed % |
0.47 |
0.47 |
0.05 |
0.56 |
-1.42 |
|
Current Debt Ratio |
0.13 |
0.18 |
0.62 |
0.43 |
0.74 |
|
Total Debt Ratio |
0.25 |
0.30 |
0.74 |
0.56 |
0.86 |
|
Stock Turnover Ratio % |
10.31 |
10.64 |
18.73 |
13.48 |
19.89 |
|
Return on Net Assets
Employed % |
0.60 |
0.61 |
0.09 |
0.89 |
-2.65 |
FOREIGN EXCHANGE RATES
N/a
ADDITIONAL INFORMATION
|
The audit report
contains no adverse comments. |
|
No recent changes in
directorship are recorded. |
|
The company is part of a
group. |
|
The company was
established over 37 years ago. |
|
Year to Date |
Employees |
|
31/03/2011 |
38 |
|
31/03/2010 |
39 |
|
31/03/2009 |
40 |
Current Company
Secretary
|
Name |
Date of Birth |
02/10/1961 |
|
|
Officers Title |
Mr |
Nationality |
Australian |
|
Present Appointments |
9 |
Function |
Company Secretary |
|
Appointment Date |
01/02/1993 |
|
|
|
Address |
36 Lyonsdown
Avenue, , New Barnet, EN5 1DX |
||
Event History
|
Date |
Description |
|
17/02/2012 |
Annual Returns |
|
20/07/2011 |
New Accounts Filed |
|
20/07/2011 |
New Accounts Filed |
|
14/02/2011 |
Annual Returns |
|
26/07/2010 |
New Accounts Filed |
|
08/02/2010 |
Annual Returns |
|
30/07/2009 |
New Accounts Filed |
|
15/02/2009 |
Annual Returns |
|
09/09/2008 |
New Accounts Filed |
|
11/02/2008 |
Annual Returns |
|
24/08/2007 |
New Accounts Filed |
|
04/09/2006 |
New Accounts Filed |
|
06/09/2005 |
New Accounts Filed |
|
15/02/2005 |
Annual Returns |
|
20/08/2004 |
New Accounts Filed |
Mortgage Details
|
Mortgage Type: |
DEBENTURE |
||
|
Date Charge Created: |
20/09/06 |
|
|
|
Date Charge Registered: |
28/09/06 |
|
|
|
Date Charge Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s) Entitled: |
NATIONAL WESTMINSTER
BANK PLC |
||
|
Amount Secured: |
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 INCLU
DING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND
MACHINERY |
||
|
Mortgage Type: |
SECURITY DEED |
||
|
Date Charge Created: |
22/03/00 |
|
|
|
Date Charge Registered: |
29/03/00 |
|
|
|
Date Charge Satisfied: |
07/01/06 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s) Entitled: |
THE BANK OF NOVA SCOTIA |
||
|
Amount Secured: |
£1,860,000.00 DUE OR TO
BECOME DUE FROMTHE COMPANY TO THE CHARGEE |
||
|
Details: |
GOLD JEWELLERY LODGED AT
THE ASSAY OFFICE |
||
|
Mortgage Type: |
LEGAL MORTGAGE |
||
|
Date Charge Created: |
08/04/91 |
|
|
|
Date Charge Registered: |
12/04/91 |
|
|
|
Date Charge Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s) Entitled: |
NATIONAL WESTMINSTER
BANK PLC |
||
|
Amount Secured: |
ALL MONIES DUE OR TO
BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Details: |
ALBANY HSE, PATRIDGE LANE
WALTON ON THAMES SURREY TITLE NO SY41180 FLOATING CHARGE OVER ALL MOVEABLE
PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT |
||
|
Mortgage Type: |
CHARGE OVER BOOK DEBTS. |
||
|
Date Charge Created: |
06/08/90 |
|
|
|
Date Charge Registered: |
10/08/90 |
|
|
|
Date Charge Satisfied: |
07/11/06 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s) Entitled: |
NATIONAL WESTMINSTER
BANK PLC |
||
|
Amount Secured: |
ALL MONIES DUE OR TO BECOME
DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Details: |
A SPECIFIC CHARGE OVER
THE BENEFIT OF ALL BOOK DEBTS AND OTHER DEBTS AS ARE NOWOR MAY FROM TIME TO T
IME BE DUE OR OWING TO THE COMPANY. SEE FORM 395 REF. M173L FOR FURTHER
DETAILS. |
||
|
Mortgage Type: |
LEGAL MORTGAGE |
||
|
Date Charge Created: |
31/07/89 |
|
|
|
Date Charge Registered: |
03/08/89 |
|
|
|
Date Charge Satisfied: |
07/01/06 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s) Entitled: |
NATIONAL WESTMINSTER
BANK PLC |
||
|
Amount Secured: |
ALL MONIES DUE OR TO
BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Details: |
FLAT 5, 61 GREAT CUMBERLAND
PLACE LONDON W7 T/NO: NGL 513252, AND THE PROCEEDS OF SALE THEREOF TOGET HER
WITH A FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS
FURNITURE AND EQUIP MENT |
||
|
Mortgage Type: |
LEGAL MORTGAGE |
||
|
Date Charge Created: |
18/05/87 |
|
|
|
Date Charge Registered: |
21/05/87 |
|
|
|
Date Charge Satisfied: |
30/08/95 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s) Entitled: |
NATIONAL WESTMINSTER
BANK PLC |
||
|
Amount Secured: |
ALL MONIES DUE OR TO BECOME
DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Details: |
ALL THAT PROPERTY K/A
FLAT NUMBER 3 YORK HOUSE, 39 QUEENS GARDEN, LONDON W2 T/NO NGL 485684 AND/OR
T HE PROCEEDS OF SALETHEREOF. FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY
IMPLEMENTS UTENSILS FU RNITURE AND EQUIPMENT |
||
|
Mortgage Type: |
LEGAL MORTGAGE |
||
|
Date Charge Created: |
16/02/87 |
|
|
|
Date Charge Registered: |
19/02/87 |
|
|
|
Date Charge Satisfied: |
10/06/95 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s) Entitled: |
NATIONAL WESTMINSTER
BANK PLC |
||
|
Amount Secured: |
ALL MONIES DUE OR TO
BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Details: |
L/H PROPERTY K/A FLAT 5 71
PORTLAND PLACE LONDON W1 AND/OR THE PROCEEDS OF SALETHEREOF. FLOATING CHA RGE
OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT |
||
|
Mortgage Type: |
LEGAL MORTGAGE |
||
|
Date Charge Created: |
05/12/86 |
|
|
|
Date Charge Registered: |
22/12/86 |
|
|
|
Date Charge Satisfied: |
13/08/88 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s) Entitled: |
NATIONAL WESTMINSTER
BANK PLC |
||
|
Amount Secured: |
ALL MONIES DUE OR TO BECOME
DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Details: |
PROPERTY K/A FLAT 2 25
HYDE PARK GARDENS LONDON W2 T.N LN 249390 AND/OR THE PROCEEDS OF SALE THEREOF
FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE
AND EQUIPMENT |
||
|
Mortgage Type: |
LEGAL MORTGAGE |
||
|
Date Charge Created: |
12/02/85 |
|
|
|
Date Charge Registered: |
20/02/85 |
|
|
|
Date Charge Satisfied: |
13/08/88 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s) Entitled: |
NATIONAL WESTMINSTER
BANK PLC |
||
|
Amount Secured: |
ALL MONIES DUE OR TO
BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Details: |
11 EVELYN MANSIONS
CARLISLE PLACE, LONDON SW1 AND/OR THE PROCEEDS OF SALE THEREOF FLOATING CHARGE
OV ER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND
EQUIPMENT |
||
|
Mortgage Type: |
LEGAL MORTGAGE |
||
|
Date Charge Created: |
09/06/83 |
|
|
|
Date Charge Registered: |
14/06/83 |
|
|
|
Date Charge Satisfied: |
10/06/95 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s) Entitled: |
NATIONAL WESTMINSTER
BANK PLC |
||
|
Amount Secured: |
ALL MONIES DUE OR TO
BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Details: |
FLAT 4-25 HYDE PARK GARDENS
LONDON W2 TITLE NO. LN 235758 AND/OR THE PROCEEDS OF SALE THEREOF FLOATI NG
CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND
EQUIPMENT |
||
NOTES & COMMENTS
N/a
DIAMOND INDUSTRY –
INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
The diamond jewellery industry in India today may be
more than Rs 60000 mil and is rated amongst the fastest growing in the
world. Indi ranks third in the world in domestic diamond consumption.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This
could be the biggest credibility crisis the Indian diamond industry has ever
faced. Fifteen banks run the risk of losing Rs 2000 crore lent to a dozen
diamond firms in Surat. Until about two months ago, they had not repaid
these dues. Bankers believe many diamantaires borrowed money during the
economic downturn two years ago and diverted funds to businesses like real
estate and capital markets. Many of themselves made money from these businesses
but their diamond companies have gone sick and declared insolvency.
-
Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.08 |
|
UK Pound |
1 |
Rs.87.03 |
|
Euro |
1 |
Rs.68.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.