MIRA INFORM REPORT

 

 

 

 

Report Date :           

07.03.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

RAM JEWELLERS LIMITED

 

 

Registered Office :

116 Belgrave Road, Leicester, Le4 5at

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

30.04.2011

 

 

Date of Incorporation :

13.01.1992

 

 

Com. Reg. No.:

02677083

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Wholesale and retail distribution of jewellery

 

 

No. of Employees :

Not Available

 

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 – 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

 

Company summary

 

Company Name

RAM JEWELLERS LIMITED

Company Number

02677083

 

 

 

 

Registered Address

116 BELGRAVE ROAD

Trading Address

116 Belgrave Road
Leicester
Leicestershire
LE4 5AT

 

LEICESTER

 

 

 

 

 

 

 

LE4 5AT

 

 

Website Address

http://www.ramjewellers.com

 

 

Telephone Number

01162664278

Fax Number

 

TPS

Yes

FPS

No

Incorporation Date

13/01/1992

Company Status

Active - Accounts Filed

Previous Name

 

Type

Private limited with Share Capital

Date of Change

-

Filing Date of Accounts

27/02/2012

 

 

Share Capital

£100

SIC03

5147

Currency

GBP

SIC03 Description

WHOLESALE OF OTHER HOUSEHOLD GOODS

SIC07

46480

SIC07 Description

WHOLESALE OF WATCHES AND JEWELLERY

Principal Activity

Wholesale and retail distribution of jewellery.

 

 

Commentary

 

No exact match CCJs are recorded against the company.

The credit limit on this company has risen 150% in comparison to the previously suggested credit limit.

There is insufficient data to indicate a change in this companies percentage of sales.

Net Worth increased by 9.3% during the latest trading period.

A 7.4% growth in Total Assets occurred during the latest trading period.

There is insufficient data to indicate a change in this companies pre-tax profit.

The company saw an increase in their Cash Balance of 171.2% during the latest trading period.

The company is exempt from audit.

No recent changes in directorship are recorded.

The company is not part of a group.

The positive change in the P&L Account Reserve suggests that the company made a profit after tax and other appropriations.

The company was established over 20 years ago.

The company has recently filed accounts at Companies House

 

 

 

* Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

30/04/2011

-

-

£341,843

-

30/04/2010

-

-

£320,601

-

30/04/2009

-

-

£313,778

-

 

Payment Information Summary

Total number of Invoices available

20

Total number of Invoices paid within or up to 30 days after the due date

9

Total number of Invoices paid more than 30 days after the due date

6

Total number of Invoices currently outstanding where the due date has not yet been reached

2

Total number of Invoices currently outstanding beyond the due date

3



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

 

Mortgage Summary

Outstanding

1

Satisfied

6

 

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

3

 

Current Directors

Name

Ramanlal Narshidas Visram

Date of Birth

15/11/1947

Officers Title

Mr

Nationality

British

Present Appointments

3

Function

Director

Appointment Date

01/02/2001

 

 

Address

66 Manor Road,  Oadby,  Leicester,  LE2 2SA

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Mahul Visram

Date of Birth

24/09/1973

Officers Title

Mr

Nationality

British

Present Appointments

5

Function

Director

Appointment Date

09/01/1992

 

 

Address

66 Manor Road,  ,  Oadby,  LE2 2SA

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Current Company Secretary

Name

Mahul Visram

Date of Birth

24/09/1973

Officers Title

Mr

Nationality

British

Present Appointments

5

Function

Company Secretary

Appointment Date

09/01/1992

 

 

Address

66 Manor Road,  ,  Oadby,  LE2 2SA

Other Actions

 

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 



Top 20 Shareholders

Name

Individual Share Value

MAHUL RAMANLAL VISRAM

49 ORDINARY GBP 1.00

PRAFUL NARSHIDAS VISRAM

49 ORDINARY GBP 1.00

RAMANLAL NARSHIDAS VISRAM

2 ORDINARY GBP 1.00

 

 

Profit & Loss

 

Date Of Accounts

30/04/11

(%)

30/04/10

(%)

30/04/09

(%)

30/04/08

(%)

30/04/07

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

-

-

-

-

-

-

-

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-

-

-

-

-

-

Gross Profit

-

-

-

-

-

-

-

-

-

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

-

-

-

-

-

-

-

-

-

Depreciation

£13,974

16.8%

£11,965

32.1%

£9,058

12.4%

£8,062

8.7%

£7,417

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

Balance Sheet

Date Of Accounts

30/04/11

(%)

30/04/10

(%)

30/04/09

(%)

30/04/08

(%)

30/04/07

Tangible Assets

£55,897

16.8%

£47,861

11.4%

£42,958

-13.2%

£49,516

17.5%

£42,148

Intangible Assets

£24,670

-18.9%

£30,420

-15.9%

£36,170

-13.7%

£41,920

-12.1%

£47,670

Total Fixed Assets

£80,567

2.9%

£78,281

-1.1%

£79,128

-13.5%

£91,436

1.8%

£89,818

Stock

£1,018,538

2.2%

£996,536

5.3%

£946,296

-38.2%

£1,531,236

30.9%

£1,170,146

Trade Debtors

£73,559

60.7%

£45,783

28.6%

£35,602

-26.6%

£48,477

-26.8%

£66,213

Cash

£51,806

171.2%

£19,103

528%

£3,042

468.6%

£535

-97.5%

£21,284

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£1,143,903

7.8%

£1,061,422

7.8%

£984,940

-37.7%

£1,580,248

25.7%

£1,257,643

Trade Creditors

£793,318

-2.5%

£813,493

9%

£746,652

-45.8%

£1,377,975

207.6%

£447,962

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-100%

£271,385

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

0

Total Current Liabilities

£793,318

-2.5%

£813,493

9%

£746,652

-45.8%

£1,377,975

91.6%

£719,347

Bank Loans & Overdrafts and LTL

£89,309

999.9%

£5,609

54.2%

£3,638

-

0

-100%

£682,219

Other Long Term Finance

£50,700

-

0

-

0

-

0

-

0

Total Long Term Liabilities

£89,309

999.9%

£5,609

54.2%

£3,638

-

0

-100%

£410,834

 

Capital & Reserves

Date Of Accounts

30/04/11

(%)

30/04/10

(%)

30/04/09

(%)

30/04/08

(%)

30/04/07

Called Up Share Capital

£100

-

£100

-

£100

-

£100

-

£100

P & L Account Reserve

£341,743

6.6%

£320,501

2.2%

£313,678

6.8%

£293,609

35.2%

£217,180

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£341,843

6.6%

£320,601

2.2%

£313,778

6.8%

£293,709

35.2%

£217,280

 

Other Financial Items

Date Of Accounts

30/04/11

(%)

30/04/10

(%)

30/04/09

(%)

30/04/08

(%)

30/04/07

Net Worth

£317,173

9.3%

£290,181

4.5%

£277,608

10.3%

£251,789

48.5%

£169,610

Working Capital

£350,585

41.4%

£247,929

4%

£238,288

17.8%

£202,273

-62.4%

£538,296

Total Assets

£1,224,470

7.4%

£1,139,703

7.1%

£1,064,068

-36.3%

£1,671,684

24.1%

£1,347,461

Total Liabilities

£882,627

7.8%

£819,102

9.2%

£750,290

-45.6%

£1,377,975

21.9%

£1,130,181

Net Assets

£341,843

6.6%

£320,601

2.2%

£313,778

6.8%

£293,709

35.2%

£217,280

 

 

Miscellaneous

Date Of Accounts

30/04/11

(%)

30/04/10

(%)

30/04/09

(%)

30/04/08

(%)

30/04/07

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£431,152

32.2%

£326,210

2.8%

£317,416

8.1%

£293,709

-53.2%

£628,114

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

 

Auditor Comments

The company is exempt from audit

Bankers

BARCLAYS BANK PLC

Bank Branch Code

 

 

Ratios

Date Of Accounts

30/04/11

30/04/10

30/04/09

30/04/08

30/04/07

Pre-tax profit margin %

-

-

-

-

-

Current ratio

1.44

1.30

1.32

1.15

1.75

Sales/Net Working Capital

-

-

-

-

-

Gearing %

26.10

1.70

1.20

0

314

Equity in %

28.50

28.90

30.50

18

16.70

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.15

0.07

0.05

0.03

0.12

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

2.32

2.53

2.37

4.69

3.31

Total Debt Ratio

2.58

2.55

2.39

4.69

5.20

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-




Status History

Date

Description

 

12/10/2009

Restored to Index

 

03/09/2009

Dissolution (Final)

 

21/05/2009

Dissolution (First Gazt)

 


*Event History

Date

Description

 

03/03/2012

New Accounts Filed

 

02/03/2012

Annual Returns

 

29/03/2011

Annual Returns

 

05/02/2011

New Accounts Filed

 

19/08/2010

New Accounts Filed

 

19/08/2010

New Accounts Filed

 

27/03/2010

Annual Returns

 

16/10/2009

Annual Returns

 

15/10/2009

New Accounts Filed

 

15/10/2009

New Accounts Filed

 

13/10/2009

Mr P.N. Visram has left the board

 

15/09/2009

New Company Secretary Mr M. Visram appointed

 

15/09/2009

New Board Member Mr M. Visram appointed

 

09/09/2008

Annual Returns

 

02/09/2008

New Accounts Filed

 

 

Statistics

Group

-

Linkages

0 companies

Countries

In 0 countries

Summary

Holding Company

-

Ownership Status

 

Ultimate Holding Company

-

 

Group structure

No group structure

 

 

Statistics

Group

0 companies

Linkages

0 companies

 

 

 

Exact CCJ Details

No CCJs found

 

Possible CCJs Details

There are no possible CCJ details

 

 

 

 

 

Mortgage Details

Mortgage Type:

DEBENTURE

Date Charge Created:

31/08/10

 

 

Date Charge Registered:

03/09/10

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

HABIB BANK AG ZURICH

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY SEE IMAGEFOR FULL DETAILS

 

Mortgage Type:

DEBENTURE

Date Charge Created:

02/02/04

 

 

Date Charge Registered:

05/02/04

 

 

Date Charge Satisfied:

30/07/10

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND

Amount Secured:

 

Details:

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

Mortgage Type:

DEBENTURE

Date Charge Created:

18/05/01

 

 

Date Charge Registered:

05/06/01

 

 

Date Charge Satisfied:

12/06/10

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

NATIONWIDE BUILDING SOCIETY

Amount Secured:

 

Details:

THE COMPANY WITH FULL TITLE GUARANTEE CHARGES BY WAY OF A FIRST FLOATING CHARGEALL PROPERTY AND ASSETS,BOTH PRESENT AND FUTURE AND FROM TIME TO TIME OWNED BY THE COMPANY OR IN WHICH THE COMPANY MAY HAVE AN INTEREST.

 

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

18/05/01

 

 

Date Charge Registered:

05/06/01

 

 

Date Charge Satisfied:

12/06/10

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

NATIONWIDE BUILDING SOCIETY

Amount Secured:

 

Details:

THE F/H LAND BEING LAND AND BUILDINGS LYING TO THE SOUTH OF WARSTONE LANE,BIRMINGHAM,WEST MIDLANDS T/N WK132596TOGETHER WITH ALL BUILDINGS FIXTURES (INCLUDING TRADE FIXTURES) FIXED PLANT ANDMACHINERYTHEREON THE GOODWILL OF ANY BUSINESS CARRIED ON AT THE PROPERTY THE BENEFIT OF ANY LICENCES AND REGISTRATIONSREQUIRED IN THE RUNNING OF SUCH BUSINESS

 

Mortgage Type:

DEBENTURE

Date Charge Created:

20/07/00

 

 

Date Charge Registered:

31/07/00

 

 

Date Charge Satisfied:

12/06/10

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

BARCLAYS BANK PLC

Amount Secured:

 

Details:

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERYSEE THE MORTGAGECHARGE DOCUMENT FOR FULL DETAILS

 

Mortgage Type:

DEBENTURE

Date Charge Created:

11/08/97

 

 

Date Charge Registered:

14/08/97

 

 

Date Charge Satisfied:

05/12/98

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

THE ROYAL BANK OF SCOTLAND 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 INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

Mortgage Type:

FIXED AND FLOATING CHARGE

Date Charge Created:

10/08/93

 

 

Date Charge Registered:

13/08/93

 

 

Date Charge Satisfied:

07/05/97

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

MIDLAND 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 INCLUDING UNCALLED CAPITAL GOODWILL BOOKDEBTS AND PATENTS

 

 

Creditor Details

No Creditor Data

Total Value

-

 

Trade Debtors / Bad Debt Detail

No Debtor Data

Total Value

-

 

 

 

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

Ramanlal Narshidas Visram

0

1

Praful Narshidas Visram

0

2

CHETTLEBURGH INTERNATIONAL LIMITED

209

30649

Bottom of Form

 

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.50.03

UK Pound

1

Rs.79.32

Euro

1

Rs.66.02

 

 

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.