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Report Date : |
24.08.2013 |
IDENTIFICATION DETAILS
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Name : |
CJW DIRECT LTD. |
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Registered Office : |
1st Floor 314 Regents Park Road Finchley London, N3 2LT |
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Country : |
United Kingdom |
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Financials (as on) : |
29.02.2012 |
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Date of Incorporation : |
13.12.2007 |
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Com. Reg. No.: |
06453221 |
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Legal Form : |
Private Independent |
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Line of Business : |
Wholesale of watches and jewellery |
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No. of Employees : |
Not Available |
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 : |
Moderate |
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Payment Behaviour : |
Unknown |
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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, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 |
UNITED KINGDOM - ECONOMIC OVERVIEW
The UK, a leading trading power and financial center, is the
second largest economy in Europe after Germany. Over the past two decades, the
government has greatly reduced public ownership and contained the growth of
social welfare programs. Agriculture is intensive, highly mechanized, and
efficient by European standards, producing about 60% of food needs with less
than 2% of the labor force. The UK has large coal, natural gas, and oil
resources, but its oil and natural gas reserves are declining and the UK became
a net importer of energy in 2005. Services, particularly banking, insurance,
and business services, account by far for the largest proportion of GDP while
industry continues to decline in importance. After emerging from recession in
1992, Britain's economy enjoyed the longest period of expansion on record during
which time growth outpaced most of Western Europe. In 2008, however, the global
financial crisis hit the economy particularly hard, due to the importance of
its financial sector. Sharply declining home prices, high consumer debt, and
the global economic slowdown compounded Britain's economic problems, pushing
the economy into recession in the latter half of 2008 and prompting the then
BROWN (Labour) government to implement a number of measures to stimulate the
economy and stabilize the financial markets; these include nationalizing parts
of the banking system, temporarily cutting taxes, suspending public sector
borrowing rules, and moving forward public spending on capital projects. Facing
burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition
government (between Conservatives and Liberal Democrats) initiated a five-year
austerity program, which aimed to lower London's budget deficit from over 10%
of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the
Exchequer George OSBORNE announced additional austerity measures through 2017
because of slower-than-expected economic growth and the impact of the euro-zone
debt crisis. The CAMERON government raised the value added tax from 17.5% to
20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014.
The Bank of England (BoE) implemented an asset purchase program of up to £375
billion (approximately $605 billion) as of December 2012. During times of
economic crisis, the BoE coordinates interest rate moves with the European
Central Bank, but Britain remains outside the European Economic and Monetary
Union (EMU). In 2012, weak consumer spending and subdued business investment
weighed on the economy. GDP fell 0.1%, and the budget deficit remained
stubbornly high at 7.7% of GDP. Public debt continued to increase.
Source
: CIA
Cjw Direct Ltd.
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Business
Description
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Wholesale trade, except of motor vehicle |
Industry
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
423940 - Jewelry, Watch, Precious Stone, and
Precious Metal Merchant Wholesalers |
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UK SIC 2007: |
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US SIC 1987: |
5094 - Jewelry, Watches, Precious Stones, and
Precious Metals |
Key Executives
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Financial
Summary
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||||||||||||||||||||
1 - Profit &
Loss Item Exchange Rate: USD 1 = GBP 0.6256545
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6293774
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Executives Report
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Annual Return Date: 13 Dec 2012
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
04 Jul 1952 |
Tudor Cottage 16 Tudor Close, |
13 Dec 2007 |
NA |
Current:1 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Company Directors Limited |
Previous |
788-790 Finchley Road, |
13 Dec 2007 |
13 Dec 2007 |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
NA |
1St Floor 314 Regents Park Road, |
13 Dec 2007 |
NA |
Current:1 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Temple Secretaries Limited |
Previous |
788-790 Finchley Road, |
13 Dec 2007 |
13 Dec 2007 |
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Individual Shareholders |
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Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
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Alon Shlosberg |
1 Ordinary GBP 1.00 |
Ordinary |
1 |
1.00 |
1.00 |
0.99 |
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Paul Andrew Latimer |
100 C GBP 1.00 |
C |
100 |
1.00 |
100.00 |
99.01 |
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Corporate Shareholders |
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There are no corporate shareholders for this company. |
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Financials in: USD (mil) |
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Except for share items (millions) and per share
items (actual units) |
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29-Feb-2012 |
28-Feb-2011 |
28-Feb-2010 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
GBP |
GBP |
GBP |
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Exchange Rate
(Period Average) |
0.625654 |
0.647226 |
0.631243 |
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Consolidated |
No |
No |
No |
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Dividends |
0.1 |
0.2 |
- |
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Audit Fees |
0.0 |
0.0 |
0.0 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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|
29-Feb-2012 |
28-Feb-2011 |
28-Feb-2010 |
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Filed Currency |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.629377 |
0.614817 |
0.656858 |
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Consolidated |
No |
No |
No |
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Total Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
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Total Fixed Assets |
0.0 |
0.0 |
0.0 |
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Total Stocks |
0.0 |
0.0 |
0.0 |
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Trade Debtors |
0.1 |
0.4 |
0.8 |
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Cash and Equivalents |
0.2 |
0.1 |
0.2 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
0.3 |
0.6 |
1.0 |
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Total Assets |
0.3 |
0.6 |
1.1 |
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Trade Creditors |
0.2 |
0.5 |
0.9 |
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Bank Overdraft |
0.0 |
0.0 |
0.0 |
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Bank Loan Overdrafts |
0.0 |
0.0 |
0.0 |
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Director Loans |
0.0 |
0.0 |
- |
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Total Short Term Loans |
0.0 |
0.0 |
0.0 |
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Other Current Liabilities |
0.0 |
0.0 |
0.0 |
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Total Current Liabilities |
0.0 |
0.0 |
0.0 |
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Working Capital |
0.0 |
0.0 |
0.1 |
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Total Long Term Loans |
0.0 |
0.0 |
0.0 |
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Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
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Total Long Term Liabilities |
0.0 |
0.0 |
0.0 |
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Total Liabilities |
-0.1 |
-0.3 |
- |
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Issued Capital |
0.0 |
- |
- |
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Retained Earnings |
0.0 |
0.1 |
0.2 |
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Total Reserve |
0.0 |
0.1 |
0.2 |
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Total Shareholders Funds |
0.0 |
0.1 |
0.2 |
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Net Worth |
0.0 |
0.1 |
0.2 |
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Annual Cash
Flows |
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Financials in:
USD (mil) |
|
|
29-Feb-2012 |
28-Feb-2011 |
28-Feb-2010 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.625654 |
0.647226 |
0.631243 |
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Consolidated |
No |
No |
No |
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Paid Up Equity |
0.0 |
0.0 |
0.0 |
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Annual Ratios |
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29-Feb-2012 |
28-Feb-2011 |
28-Feb-2010 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
- |
- |
- |
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Exchange Rate |
- |
- |
- |
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Consolidated |
No |
No |
No |
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Current Ratio |
1.03 |
1.09 |
1.16 |
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Liquidity Ratio |
0.90 |
1.03 |
1.10 |
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Solvency Ratio |
5.03% |
9.67% |
14.56% |
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Current Debt Ratio |
18.87 |
9.34 |
5.87 |
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Long Term Debt Ratio |
0.00 |
0.00 |
0.00 |
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Total Debt Ratio |
18.87 |
9.34 |
5.87 |
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Debt Asset Ratio |
94.97% |
90.33% |
85.44% |
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Stock Financing |
4.15 |
0.69 |
0.34 |
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Fixed Asset Investment |
0.02 |
0.01 |
0.01 |
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Stock to Total Assets |
773.92% |
1,704.30% |
2,140.89% |
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Financial Strength Ratio |
1.93 |
2.12 |
2.26 |
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Reserve Movement |
-76.29% |
-66.68% |
- |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.69 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.86.30 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
|
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 |
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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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.