MIRA INFORM REPORT

 

 

Report Date :

12.11.2013

 

IDENTIFICATION DETAILS

 

Name :

CORONA (OVERSEAS) LTD.

 

 

Registered Office :

Premier House, 12-13 Hatton Garden, London, EC1N 8AA,London County

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

12.06.1947

 

 

Com. Reg. No.:

00436862

 

 

Legal Form :

Private Independent

 

 

LINE OF BUSINESS :

SUPPLIER OF DIAMONDS. THE COMPANY SPECIALISES IN OFFERING POLISHED SMALL SIZE, ROUND AND FANCY-SHAPED DIAMONDS UP TO ONE CARAT IN VARIOUS QUALITIES

 

 

No. of Employees :

Not Available

 

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 – March 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

Company name and address

 

Corona (Overseas) Ltd.

 

 

 

Premier House

12-13 Hatton Garden

 

London, EC1N 8AA

United Kingdom

(Trading Address)
Registered Address

Tel:

020 7405 3041

 

www.coronaoverseas.co.uk

 

Employees:

NA

Company Type:

Private Independent

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

12-Jun-1947

 

 

 

 

 

 

Fiscal Year End:

31-Dec-2012

Reporting Currency:

British Pound Sterling

Annual Sales:

NA

Total Assets:

2.0

 

 

 

 

 

 

 

Business Description

 

 

Corona (Overseas) Ltd. is a supplier of diamonds throughout the United Kingdom. The company specialises in offering polished small size, round and fancy-shaped diamonds up to one carat in various qualities. It also stocks a wide variety of stones of varying clarity and colours. In addition, the company provides a range of assortments of diamonds. The company imports its small diamonds and commercial stones throughout the world. Its website provides an online product catalogue and price list to its clients. (Updated by OneSource Information Services)

 

 

Industry

 

 

Industry

Miscellaneous Wholesale

ANZSIC 2006:

3739 - Other Goods Wholesaling Not Elsewhere Classified

ISIC Rev 4:

4690 - Non-specialized wholesale trade

NACE Rev 2:

4690 - Non-specialised wholesale trade

NAICS 2012:

423990 - Other Miscellaneous Durable Goods Merchant Wholesalers

UK SIC 2007:

4690 - Non-specialised wholesale trade

US SIC 1987:

5099 - Durable Goods, Not Elsewhere Classified

 

 

 

 

Key Executives

 

 

 

Name

Title

 

Alison Levy

Secretary

 

Abraham Levy

Director

 

 

Financial Summary

 

 

FYE: 31-Dec-2012

USD (mil)

Key Figures

 

Current Assets

2.04

Fixed Assets

0.0048

Total Liabilities

1.45

Net Worth

0.59

 

Key Ratios

 

Current Ratio

1.40

Acid Test

0.68

 

 

Registered No.(UK)

 

00436862

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6311738

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6190609

 

 

Corporate Overview

 

 

Location
Premier House
12-13 Hatton Garden
London, EC1N 8AA
London County
United Kingdom

 

Tel:

020 7405 3041

 

www.coronaoverseas.co.uk

Sales GBP(mil):

NA

Assets GBP(mil):

1.3

Employees:

NA

Fiscal Year End:

31-Dec-2012

 

 

 

Industry:

Miscellaneous Capital Goods

Registered Address:
Premier House
12 13 Hatton Garden
London, EC1N 8AN
United Kingdom

 

Incorporation Date:

12-Jun-1947

Company Type:

Private Independent

Quoted Status:

Not Quoted

Registered No.(UK):

00436862

 

Director:

Abraham Levy

 

Industry Codes

 

ANZSIC 2006 Codes:

3739

-

Other Goods Wholesaling Not Elsewhere Classified

 

ISIC Rev 4 Codes:

4690

-

Non-specialized wholesale trade

 

NACE Rev 2 Codes:

4690

-

Non-specialised wholesale trade

 

NAICS 2012 Codes:

423990

-

Other Miscellaneous Durable Goods Merchant Wholesalers

 

US SIC 1987:

5099

-

Durable Goods, Not Elsewhere Classified

 

UK SIC 2007:

4690

-

Non-specialised wholesale trade

 

Business Description

Corona (Overseas) Ltd. is a supplier of diamonds throughout the United Kingdom. The company specialises in offering polished small size, round and fancy-shaped diamonds up to one carat in various qualities. It also stocks a wide variety of stones of varying clarity and colours. In addition, the company provides a range of assortments of diamonds. The company imports its small diamonds and commercial stones throughout the world. Its website provides an online product catalogue and price list to its clients. (Updated by OneSource Information Services)

 

More Business Descriptions

Import and Export Agents

 

Corona (Overseas) Ltd are specialists in polished small size round and fancy shaped diamonds up to one carat in all qualities. Corona (Overseas) Ltd has been established for over 50 years, and have become the largest importer of small diamonds from a third of a point to one carat in the UK. Corona (Overseas) Ltd has become a trusted name in quality diamonds all over the world. With buying offices in Bombay, Tel Aviv & Antwerp. Corona (Overseas) Ltd commits itself to supplying consistent assortments of diamonds in sizes ranging from a third of a point to one carat in various qualities. Corona (Overseas) Ltd are members of the London Diamond Bourse and Club. We welcome exports Site design by YML

 

 

 

 

 

 

Financial Data

Financials in:

GBP(mil)

 

Assets:

1.3

Current Assets:

1.3

 

Fixed Assets:

0.0

 

Long Term Debt:

0.0

 

Total Liabilities:

0.9

 

Issued Capital:

0.0

 

Working Capital:

0.4

 

Net Worth:

0.4

 

 

 

Date of Financial Data:

31-Dec-2012

 

1 Year Growth

NA

 

Key Corporate Relationships

Auditor History

Landau Morley LLP

31-Dec-2011

Landau Morley LLP

31-Dec-2010

Landau Morley LLP

31-Dec-2009

Landau Morley LLP

31-Dec-2008

 

 

 

 

 

 

 

 

 

 

Corona (Overseas) Ltd.

London, , United Kingdom, Tel: 020 7405 3041, URL: http://www.coronaoverseas.co.uk

 

Executives Report

 

Board of Directors

 

Name

Title

Function

 

Abraham Levy

 

Director

Director/Board Member

 

Age: 56

 

 

Executives

 

Name

Title

Function

 

Alison Levy

 

Secretary

Company Secretary

 

Age: 52

.


Directors and Shareholders Report

 

Main Office Address:
Premier House
12-13 Hatton Garden
London
United Kingdom EC1N 8AA

Tel: 020 7405 3041
URL: http://www.coronaoverseas.co.uk

Annual Return Date: 30 Nov 2012
Total Issued Capital (GBP 000): 3

 

Individual Directors

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Abraham
Levy

Current

16 Jun 1957

16 Mayfield Gardens,
London , London NW4 2QA

30 Nov 1991

NA

Current:7
Previous:1
Disqualifications:0

 

Elias
Levy

Previous

03 May 1917

26 Rundell Crescent,
London , London NW4 3BP

30 Nov 1991

07 Jul 2001

Current:0
Previous:1
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

 

There are no corporate directors for this company.

 

 

Individual Secretaries

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Alison
Levy

Current

15 Jan 1961

16 Mayfield Gardens,
London , London NW4 2QA

01 Mar 1999

NA

Current:3
Previous:0
Disqualifications:0

 

Abraham
Levy

Previous

16 Jun 1957

16 Mayfield Gardens,
London , London NW4 2QA

30 Nov 1991

01 Mar 1999

Current:7
Previous:1
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

 

There are no corporate secretaries for this company.

 

 

Individual Shareholders

 

Name

Share Details
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Abraham Levy

2700 A Ordinary GBP 1.00

A Ordinary

2,700

1.00

2,700.00

90.00

Alison Levy

300 B Ordinary GBP 1.00

B Ordinary

300

1.00

300.00

10.00

 

 

 

 

 

 

 

 

Corporate Shareholders

 

There are no corporate shareholders for this company.

 

 

Corona (Overseas) Ltd.

 

London, United Kingdom, Tel: 020 7405 3041, URL: http://www.coronaoverseas.co.uk

Annual Profit & Loss

 

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.631174

0.623776

0.647573

0.641508

0.545576

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Depreciation

0.0

0.0

0.0

0.0

0.0

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.619061

0.643459

0.638712

0.619253

0.695531

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Total Tangible Fixed Assets

0.0

0.0

0.0

0.0

0.0

Intangible Assets

0.0

0.0

0.0

0.0

0.0

Investments

0.0

0.0

0.0

0.0

0.0

Total Fixed Assets

0.0

0.0

0.0

0.0

0.0

Total Stocks Work In Progress

1.1

0.9

1.0

0.9

0.9

Director Loans

-

0.1

0.0

0.0

-

Other Debtors

-

1.1

1.5

1.7

-

Total Debtors

1.0

1.3

1.5

1.7

1.7

Cash and Equivalents

0.0

0.1

0.1

0.1

0.1

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

2.0

2.3

2.6

2.7

2.7

Total Assets

2.0

2.3

2.6

2.7

2.7

Bank Overdraft

0.8

0.8

1.4

1.0

0.9

Director Loans (Current Liability)

0.0

-

-

-

0.2

Other Current Liabilities

0.7

0.9

0.8

1.1

0.6

Total Current Liabilities

1.5

1.7

2.2

2.1

1.6

Group Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Director Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Hire Purchase (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Leasing (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Total Hire Purchase Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Loans

0.0

0.0

0.0

0.0

0.0

Accruals/Deferred Income (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Liabilities

0.0

0.0

0.0

0.0

0.0

Total Long Term Liabilities

0.0

0.0

0.0

0.0

0.0

Deferred Taxation

0.0

0.0

0.0

0.0

0.0

Other Provisions

0.0

0.0

0.0

0.0

0.0

Total Provisions

0.0

0.0

0.0

0.0

0.0

Issued Capital

0.0

0.0

0.0

0.0

0.0

Share Premium Accounts

0.0

0.0

0.0

0.0

0.0

Revaluation Reserve

0.0

0.0

0.0

0.0

0.0

Retained Earnings

0.6

0.5

0.4

0.6

1.1

Other Reserves

0.0

0.0

0.0

0.0

0.0

Minority Interests (Balance Sheet)

0.0

0.0

0.0

0.0

0.0

Total Shareholders Funds

0.6

0.5

0.4

0.6

1.1

Net Worth

0.6

0.5

0.4

0.6

1.1

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.631174

0.623776

0.647573

0.641508

0.545576

Consolidated

No

No

No

No

No

 

 

 

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.619061

0.643459

0.638712

0.619253

0.695531

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

1.40

1.30

1.19

1.30

1.66

Liquidity Ratio

0.68

0.78

0.74

0.85

1.11

Borrowing Ratio

12,756.00%

16,029.00%

32,671.00%

16,301.00%

9,963.00%

Equity Gearing

2,895.00%

2,307.00%

1,622.00%

2,323.00%

3,979.00%

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.29

UK Pound

1

Rs.101.36

Euro

1

Rs.84.59

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.