MIRA INFORM REPORT

 

 

Report Date :           

09.01.2012

 

IDENTIFICATION DETAILS

 

Name :

J & W CARPETS LIMITED 

 

 

Registered Office :

Forge Street Units Bonnyton Road, Kilmarnock , Ayrshire, Ka1 2qp

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

22.07.2009

 

 

Com. Reg. No.:

SC362931

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Retail floor covering company

 

 

No. of Employees :

59

 

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

 

Maximum Credit Limit :

£50,000

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

J & W CARPETS LIMITED

Company Number

SC362931

 

 

Safe Number

UK07468716

Registered Address /

Trading Address

FORGE STREET UNITS BONNYTON ROAD

Branch Address

P O Box 44, Netherton Street, Scotlan, United Kingdom 

 

KILMARNOCK

 

 

AYRSHIRE

 

 

KA1 2QP

 

Website Address

-

 

 

Telephone Number

01563535397

Fax Number

 

TPS

No

FPS

No

Incorporation Date

22/07/2009

Company Status

Active - Accounts Filed

Previous Name

 

Type

Private limited with Share Capital

Date of Change

-

Filing Date of Accounts

08/11/2011

 

 

Share Capital

£100

SIC03

7487

Currency

GBP

SIC03 Description

OTHER BUSINESS ACTIVITIES

SIC07

82990

SIC07 Description

OTHER BUSINESS SUPPORT SERVICE ACTIVITIES N.E.C.

Principal Activity

Retail floor covering company.

 

 

CREDIT RECOMENDATION

 

Current Credit Limit: £50,000

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

2

 

Current Directors

Name

William Baillie

Date of Birth

13/06/1981

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

22/07/2009

 

 

Address

54 Minister's Park,  ,  East Kilbride,  G74 5BX

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Roy John Deadmen Baillie

Date of Birth

30/11/1978

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

22/07/2009

 

 

Address

27 Doonvale Drive,  ,  Ayr,  KA6 6EF

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Current Company Secretary

Name

Gilbert Mckie Andrew

Date of Birth

-

Officers Title

Mr

Nationality

British

Present Appointments

2

Function

Company Secretary

Appointment Date

20/08/2009

 

 

Address

22 Bellevue Road,  ,  Ayr,  KA7 2SA

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

Stephen George Mabbott

88

7571

BRIAN REID LTD.

0

1

 

NEGATIVE INFORMATION

 

Commentary

No exact match CCJs are recorded against the company.

The credit limit on this company has risen 400% in comparison to the previously suggested credit limit.

The previous 12 month trading period saw a rise in Sales of 358.8%.

In the previous 12 month trading period Net Worth increased by 999.9%.

A 37.8% growth in Total Assets occurred in the previous 12 month trading period.

Pre-tax profits increased by 244% in the previous 12 month trading period.

The company saw an increase in their Cash Balance of 999.9% in the previous 12 month trading period.

The audit report contains no adverse comments.

No recent changes in directorship are recorded.

The company is not part of a group.

The company has changed its registered address recently.

The company was established over 2 years ago.

 

 

CCJ

Total Number of Exact CCJs -

0

Total Value of Exact CCJs -

Total Number of Possible CCJs -

0

Total Value of Possible CCJs -

Total Number of Satisfied CCJs -

0

Total Value of Satisfied CCJs -

Total Number of Writs -

0

 

 

 

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

 

Exact CCJ Details

No CCJs found

 

Possible CCJs Details

There are no possible CCJ details

 

Writ Details

No writs found

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Individual Share Value

WILLIAM BAILLIE

50 ORDINARY GBP 1.00

MARGARET BAILLIE

50 ORDINARY GBP 1.00

 

PAYMENT INFORMATION

 

Creditor Details

No Creditor Data

 

Total Value

-

 

Trade Debtors / Bad Debt Detail

No Debtor Data

 

Total Value

-

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

 

Group

-

Linkages

0 companies

Countries

In 0 countries

Summary

Holding Company

-

Ownership Status

 

Ultimate Holding Company

-

 

Group structure

No group structure

 

 

Group

0 companies

Linkages

0 companies

Countries

In 0 countries

 

FINANCIAL INFORMATION

 

Key Financials

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

31/03/2011

£8,154,363

£926,070

£864,164

59

31/03/2010

£1,777,460

£269,228

£191,650

51

 

Profit & Loss

Date Of Accounts

31/03/11

(%)

31/03/10

(%)

-

(%)

-

(%)

-

Weeks

52

(%)

52

(%)

-

(%)

-

(%)

-

Currency

GBP

(%)

GBP

(%)

-

(%)

-

(%)

-

Consolidated A/cs

N

(%)

N

(%)

-

(%)

-

(%)

-

Turnover

£8,154,363

358.8%

£1,777,460

-

-

-

-

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

£4,859,285

-

£891,303

-

-

-

-

-

-

Gross Profit

£3,295,078

271.8%

£886,157

-

-

-

-

-

-

Wages & Salaries

£1,282,341

309.4%

£313,230

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

£925,714

244%

£269,123

-

-

-

-

-

-

Depreciation

£97,350

426.8%

£18,479

-

-

-

-

-

-

Audit Fees

£5,000

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

£926,070

244%

£269,228

-

-

-

-

-

-

Taxation

-£253,556

-226.4%

-£77,678

-

-

-

-

-

-

Profit After Tax

£672,514

251.1%

£191,550

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

£672,514

251.1%

£191,550

-

-

-

-

-

-

Balance Sheet

Date Of Accounts

31/03/11

(%)

31/03/10

(%)

-

(%)

-

(%)

-

Tangible Assets

£324,833

10.5%

£294,014

-

-

-

-

-

-

Intangible Assets

£132,917

-6.8%

£142,584

-

-

-

-

-

-

Total Fixed Assets

£457,750

4.8%

£436,598

-

-

-

-

-

-

Stock

£2,221,861

45.1%

£1,531,462

-

-

-

-

-

-

Trade Debtors

£241,057

17.5%

£205,163

-

-

-

-

-

-

Cash

£82,377

999.9%

£1,046

-

-

-

-

-

-

Other Debtors

0

-100%

£5,096

-

-

-

-

-

-

Miscellaneous Current Assets

0

-

0

-

-

-

-

-

-

Total Current Assets

£2,545,295

46%

£1,742,767

-

-

-

-

-

-

Trade Creditors

£261,155

537.1%

£40,993

-

-

-

-

-

-

Bank Loans & Overdrafts

0

-100%

£61,263

-

-

-

-

-

-

Other Short Term Finance

£1,308,174

-25.9%

£1,765,121

-

-

-

-

-

-

Miscellaneous Current Liabilities

£554,288

385.2%

£114,234

-

-

-

-

-

-

Total Current Liabilities

£2,123,617

7.2%

£1,981,611

-

-

-

-

-

-

Bank Loans & Overdrafts and LTL

£15,264

-77.3%

£67,367

-

-

-

-

-

-

Other Long Term Finance

0

-

0

-

0

-

-

-

-

Total Long Term Liabilities

£15,264

150.1%

£6,104

-

-

-

-

-

-

 

Capital & Reserves

Date Of Accounts

31/03/11

(%)

31/03/10

(%)

-

(%)

-

(%)

-

Called Up Share Capital

£100

-

£100

-

-

-

-

-

-

P & L Account Reserve

£864,064

351.1%

£191,550

-

-

-

-

-

-

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£864,164

350.9%

£191,650

-

-

-

-

-

-

 

Other Financial Items

Date Of Accounts

31/03/11

(%)

31/03/10

(%)

-

(%)

-

(%)

-

Net Worth

£731,247

999.9%

£49,066

-

-

-

-

-

-

Working Capital

£421,678

276.5%

-£238,844

-

-

-

-

-

-

Total Assets

£3,003,045

37.8%

£2,179,365

-

-

-

-

-

-

Total Liabilities

£2,138,881

7.6%

£1,987,715

-

-

-

-

-

-

Net Assets

£864,164

350.9%

£191,650

-

-

-

-

-

-

 

Cash Flow

Date Of Accounts

31/03/11

(%)

31/03/10

(%)

-

(%)

-

(%)

-

Net Cashflow from Operations

£342,051

-13.9%

£397,071

-

-

-

-

-

-

Net Cashflow before Financing

£142,594

336.4%

-£60,317

-

-

-

-

-

-

Net Cashflow from Financing

-

-100%

£100

-

-

-

-

-

-

Increase in Cash

£142,594

336.8%

-£60,217

-

-

-

-

-

-

 

Miscellaneous

Date Of Accounts

31/03/11

(%)

31/03/10

(%)

-

(%)

-

(%)

-

Contingent Liability

NO

-

NO

-

-

-

-

-

-

Capital Employed

£879,428

344.7%

£197,754

-

-

-

-

-

-

Number of Employees

59

15.7%

51

-

-

-

-

-

-

Auditors

BDO LLP

Auditor Comments

The audit report contains no adverse comments

Bankers

 

Bank Branch Code

 

 

Ratios

Date Of Accounts

31/03/11

31/03/10

-

-

-

Pre-tax profit margin %

11.36

15.15

-

-

-

Current ratio

1.20

0.88

-

-

-

Sales/Net Working Capital

19.34

-7.44

-

-

-

Gearing %

1.80

35.20

-

-

-

Equity in %

30.10

9.40

-

-

-

Creditor Days

11.65

8.39

-

-

-

Debtor Days

10.76

42.01

-

-

-

Liquidity/Acid Test

0.15

0.10

-

-

-

Return On Capital Employed %

105.30

136.14

-

-

-

Return On Total Assets Employed %

30.83

12.35

-

-

-

Current Debt Ratio

2.45

10.33

-

-

-

Total Debt Ratio

2.47

10.37

-

-

-

Stock Turnover Ratio %

27.24

86.16

-

-

-

Return on Net Assets Employed %

107.16

140.47

-

-

-

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

Mortgage Summary

Outstanding

0

Satisfied

0

 

Status History

No Status History found

 

Event History

Date

Description

 

17/11/2011

New Accounts Filed

 

17/11/2011

New Accounts Filed

 

19/08/2011

Annual Returns

 

04/11/2010

New Accounts Filed

 

11/08/2010

Annual Returns

 

16/12/2009

Change in Reg.Office

 

15/09/2009

Change in Reg.Office

 

15/09/2009

Change of Company Postcode

 

15/09/2009

New Board Member Mr R.J. Baillie appointed

 

15/09/2009

New Board Member Mr W. Baillie appointed

 

15/09/2009

New Company Secretary Mr G.M. Andrew appointed

 

28/07/2009

BRIAN REID LTD. has resigned as company secretary

 

28/07/2009

Mr S.G. Mabbott has left the board

 

27/07/2009

New Board Member Mr S.G. Mabbott appointed

 

24/07/2009

New Company Secretary BRIAN REID LTD. appointed

 

 

Previous Company Names

No Previous Names found

 

 

NOTES & COMMENTS

 

Na

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.78

UK Pound

1

Rs.81.79

Euro

1

Rs.67.46

 

 

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.