MIRA INFORM REPORT
|
Report Date : |
02.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
3R ENTERPRISES LIMITED |
|
|
|
|
Registered Office : |
Unit 1 Kelvin Industrial Estate, Long Drive,
Greenford, Middlesex, Ub6 8gb |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
25.02.2005 |
|
|
|
|
Com. Reg. No.: |
05375748 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesalers of jewellery. |
|
|
|
|
No. of Employees
: |
13 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment
Behaviour : |
Unknown |
|
|
|
|
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 |
C
|
|
Subject Reported on |
3R ENTERPRISES LIMITED |
|
Registration Number |
05375748 |
|
VAT Number |
GB422489449 |
|
dress |
UNIT 1 KELVIN INDUSTRIAL EST, LONG DRIVE, GREENFORD, MIDDLESEX, UB6
8GB. |
|
Telephone |
020 8965 7766 |
|
Facsimile |
020 8565 7399 |
|
Legal Form |
Private Limited |
|
Registration Number |
05375748 |
|
VAT Number |
GB422489449 |
|
Subject Status |
Trading |
|
Date of Incorporation |
25/02/2005 |
|
Registered Office |
UNIT 1 KELVIN INDUSTRIAL ESTATE, LONG DRIVE, GREENFORD, MIDDLESEX,
UB6 8GB. |
|
History |
12/04/2006 : The Registered Office address changed from UNIT 26
CUMBERLAND BUSINESS PARK, CUMBERLAND. |
|
|
13/04/2005 : The Registered Office address changed from 47-49 GREEN
LANE, NORTHWOOD, MIDDLESEX HA6 3A. |
|
Date of Last Annual Return to Registry |
25/02/2011 |
|
Accounts |
The last filed accounts at Companies House are those to 31/12/2010 |
|
Accounting Reference Date |
06/01 |
|
Activities |
Wholesalers of jewellery. |
|
Premises |
Offices,Warehouse |
|
Staff Employed |
13 |
|
Auditors |
RA Accountants LLP |
|
Search History Summary |
|
Last 3 Months |
Last 6 Months |
Last 12 Months |
|
0 |
0 |
1 |
|
Search History Details |
|
|
|
The Search History Details shows details of the most recent 40
searches |
|
Date |
Description |
|
06/04/2011 |
Miscellaneous |
|
30/04/2010 |
Miscellaneous |
|
Summary of
CCJ's/Scottish Decrees |
|
No CCJs/Scottish Decrees are recorded in our file. |
|
Total Number of Mortgages/Charges Registered |
2 |
|
Number Outstanding |
2 |
|
Number Partially Satisfied |
0 |
|
Number Satisfied |
0 |
|
|
|
|
Date of Latest Mortgage Created |
01/05/2008 |
|
Date Fully |
Date |
Date |
Charge |
Form Type |
Lender |
|
|
08/05/2008 |
01/05/2008 |
Charge Of Deposit |
395 |
National Westminster Bank Plc |
|
|
28/02/2008 |
25/02/2008 |
Debenture |
395 |
National Westminster Bank Plc |
|
It should be noted that there is no legal requirement to file
satisfaction details of mortgages/charges at Companies House. |
|
Date |
Source |
Description |
|
13/04/2005 |
Companies House Gazette |
Change among directors of a company |
|
04/03/2005 |
Companies House Gazette |
Change among directors of a company |
|
Secretary |
TERSAM KUMARI PURI |
|
Service Address |
79 PAINES LANE, PINNER, MIDDLESEX, HA5 3BX. |
|
Country of Origin |
UNITED KINGDOM |
|
Date of Birth |
22/11/1956 |
|
Appointment Date |
25/02/2005 |
|
Director |
TERSAM KUMARI PURI |
|
Service Address |
79 PAINES LANE, PINNER, MIDDLESEX, HA5 3BX. |
|
Country of Origin |
UNITED KINGDOM |
|
Date of Birth |
22/11/1956 |
|
Appointment Date |
25/02/2005 |
|
|
|
|
Service Address |
79 PAINES LANE, PINNER, MIDDLESEX, HA5 3BX. |
|
Country of Origin |
UNITED KINGDOM |
|
Date of Birth |
05/04/1953 |
|
Appointment Date |
25/02/2005 |
|
Other Directorships |
KIEMCO LTD, PURI DESIGNS LIMITED |
|
Shares |
Ordinary GBP 1.00 |
|
Issued Number |
100 |
|
Principal Shareholder |
50 Tersam Kumari Puri |
|
|
50 Rajiv Kumar Puri |
|
The above reflects the principle shareholder(s) by number of shares
held, irrespective of share classification type. |
|
Profit & Loss Accounts are not available for companies categorised
as small companies under the companies act. |
|
Balance Sheet |
|
The following figures are shown in units
of 1000 |
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2010 |
31/12/2009 |
31/12/2008 |
31/12/2007 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
TOTAL FIXED ASSETS |
497 |
498 |
511 |
541 |
|
Tangible Assets |
497 |
498 |
511 |
541 |
|
TOTAL CURRENT ASSETS |
639 |
829 |
616 |
569 |
|
Trade debtors |
337 |
643 |
460 |
359 |
|
Stocks |
159 |
150 |
147 |
147 |
|
Other Current Assets |
143 |
36 |
9 |
63 |
|
Misc Current Assets |
|
|
4 |
4 |
|
Cash |
143 |
36 |
5 |
59 |
|
TOTAL ASSETS |
1136 |
1327 |
1127 |
1110 |
|
TOTAL CURRENT LIABILITIES |
931 |
1147 |
1370 |
1469 |
|
Trade creditors |
931 |
1147 |
1370 |
1469 |
|
WORKING CAPITAL |
(292) |
(318) |
(754) |
(900) |
|
TOTAL LONG TERM LIABS |
200 |
250 |
|
|
|
NET ASSETS/(LIABILITIES) |
5 |
(70) |
(243) |
(359) |
|
SHARE CAPITAL + RESERVES |
5 |
(70) |
(243) |
(359) |
|
Profit and Loss account |
5 |
(70) |
(243) |
(359) |
|
SHAREHOLDERS FUNDS |
5 |
(70) |
(243) |
(359) |
|
CAPITAL EMPLOYED |
205 |
180 |
(243) |
(359) |
|
Financial Comparison |
|
The following figures are shown in units
of 1000 |
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2010 |
31/12/2009 |
31/12/2008 |
31/12/2007 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Liquid Assets |
480 |
679 |
465 |
418 |
|
Net Working Capital |
(292) |
(318) |
(754) |
(900) |
|
Other Deferred Liabs |
200 |
250 |
|
|
|
Tangible Net Worth(T.N.W) |
5 |
(70) |
(243) |
(359) |
|
Equity |
5 |
(70) |
(243) |
(359) |
|
Number of Years Trading |
5 |
4 |
3 |
2 |
|
Key Credit Ratios |
|
The following figures are shown as Ratios
or Percentages |
|
Accounts Date |
31/12/2010 |
31/12/2009 |
31/12/2008 |
31/12/2007 |
|
Current Ratio |
0.7 |
0.7 |
0.4 |
0.4 |
|
Quick Ratio |
0.5 |
0.6 |
0.3 |
0.3 |
|
T.N.W/Total Assets% |
0.4 |
(5.3) |
(21.6) |
(32.3) |
|
Equity Gearing% |
0.4 |
(5) |
(17.7) |
(24.4) |
Auditors
Qualification
The company has
taken advantage of exemptions under the Companies Act such that the accounts
have not been audited or examined.
No Turnover
The company's
balance sheet total is less than GBP 2,800,001 and therefore this is a small
company as defined by the Companies Act.It is not required to disclose
turnover but it is likely to be less than GBP 5,600,000.
No Pre-Tax
Profit
The Company is
exempt from the requirement to file a Profit Loss Account. We note that the
difference on the Profit and Loss Account shown on the Balance Sheet is GBP
75,000 increase. This suggests that the Company may have made a post-tax
profit of GBP 75,000.
Working Capital
The company's
working capital deficiency reduced in the period and now stands at GBP 292,000.
Net Worth
The company's
net worth has moved from a deficiency of GBP 70,000 to a positive position of
GBP 5,000.
Fixed Assets
The subject's
fixed assets reduced during the year by GBP 1,000 to GBP 497,000 and are now
43 % of total assets compared with 37 % in the previous year.
Long Term
Liabilities
The company's
long term liabilities reduced during the period by 20 % and are now 4,000 %
of net worth compared with 357 % in the previous period.
Long Term
Liabilities
Long term liabilities
are now 18 % of total liabilities compared with 19 % in the previous period.
Long Term
Liabilities
Long term
liabilities are 98 % of capital employed, a decrease of 41 % over the
previous period.
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.49.15 |
|
UK Pound |
1 |
Rs.78.25 |
|
Euro |
1 |
Rs.65.57 |
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.