MIRA INFORM REPORT

 

 

Report Date :

21.08.2014

 

IDENTIFICATION DETAILS

 

Name :

LAWRENCE BLUNT LIMITED

 

 

Registered Office :

Shelley Stock Hutter 1st Floor 7-10 Chandos Street W1G9DQ

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.05.2013

 

 

Date of Incorporation :

13.01.1989

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Importer, manufacture and 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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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 third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership. 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, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. 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. Falling 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 included 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 about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 largely due to 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 Ł375 billion (approximately $605 billion) as of December 2013. 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, however, in 2013 GDP grew 1.4%, accelerating unexpectedly in the second half of the year because of greater consumer spending and a recovering housing market. The budget deficit is falling but remains high at nearly 7% and public debt has continued to increase

 

Source : CIA

 

 

 

Company name and address

 

LAWRENCE BLUNT LIMITED

 

Registered Address

Shelley Stock Hutter 1st Floor 7-10 Chandos Street W1G9DQ

Trading Address

1st Floor 7-10 Chandos Street W1G9DQ

 

 

 

Website Address

http://www.lawrenceblunt.com

Office Address

57 A Hatton Garden, 2nd Floor, Petersham House, London ECIN8JG

Telephone Number

-

Fax Nos

02078315773

TPS

-

FPS

Yes

Incorporation Date

13.01.1989

Company Status

Active - Accounts Filed

Previous Name

 

Type

Private limited with Share Capital

Share Capital

Ł315

Filing Date of Accounts

20.12.2013

Currency

GBP

 

 

SIC03 Description

Precious metal production

SIC07

24410

Principal Activity

Importer, manufacture and distribution of jewellery.

 

 

 

 

DIRECTORS/MANAGEMENT

 

Current Directors

Name

Clive Newton Ross Field

Date of Birth

14/12/1949

Officers Title

Mr

Nationality

British

Present Appointments

5

Function

Director

Appointment Date

01/10/1992

 

 

Address

Magnolia House, 24 Forest Lane, Chigwell, Essex, IG7 5AE

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Laurence James Blunt

Date of Birth

16/02/1958

Officers Title

Mr

Nationality

British

Present Appointments

8

Function

Director

Appointment Date

09/07/1991

 

 

Address

20 Penington Road, Beaconsfield, Buckinghamshire, HP9 1ET

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Richard Charles Blunt

Date of Birth

18/04/1956

Officers Title

Mr

Nationality

British

Present Appointments

13

Function

Director

Appointment Date

09/07/1991

 

 

Address

Reynolds, Nugents Park, Hatch End, Middlesex, HA5 4RA

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

 

Current Company Secretary

Name

Richard Charles Blunt

Date of Birth

18/04/1956

Officers Title

Mr

Nationality

British

Present Appointments

13

Function

Company Secretary

Appointment Date

09/07/1991

 

 

Address

Reynolds, Nugents Park, Hatch End, Middlesex, HA5 4RA

 

Previous Director/Company Secretaries

No Previous Director Details

 

 

NEGATIVE INFORMATION

 

Mortgage

Total Mortgage    5

Outstanding        1

Satisfied             4

 

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade        0

Total Value of Documented Trade          Ł0

 

Exact CCJ Details

No CCJs found

 

Possible CCJs Details

There are no possible CCJ details

 

Writ Details

No writs found

 

Mortgage Details

Mortgage Type:

DEBENTURE

Date Charge Created:

23/04/96

 

 

Date Charge Registered:

29/04/96

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

BARCLAYS 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 GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

Mortgage Type:

DEBENTURE

Date Charge Created:

30/07/93

 

 

Date Charge Registered:

12/08/93

 

 

Date Charge Satisfied:

12/12/97

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

AITKEN HUME 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 GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

Mortgage Type:

GUARANTEE & DEBENTURE

Date Charge Created:

17/07/92

 

 

Date Charge Registered:

31/07/92

 

 

Date Charge Satisfied:

14/10/93

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

BARCLAYS BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THECOMPANY AND/OR SONNENTHAL CHAIN LIMITEDTO THE CHARGEE ON ANYACCOUNT WHATSOEVER

Details:

SEE FORM 395 REF M562C FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY

 

Mortgage Type:

DEBENTURE

Date Charge Created:

14/03/91

 

 

Date Charge Registered:

22/03/91

 

 

Date Charge Satisfied:

14/10/93

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

BARCLAYS 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 GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

Mortgage Type:

DEBENTURE

Date Charge Created:

03/07/89

 

 

Date Charge Registered:

11/07/89

 

 

Date Charge Satisfied:

16/03/93

 

 

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 FIXTURES & FITTINGS FIXED PLANT AND MACHINERY

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

CLIVE NEWTON ROSS FIELD

GBP

105

ORDINARY

1

33.33

RICHARD BLUNT

GBP

105

ORDINARY

1

33.33

MR LAURENCE JAMES BLUNT

GBP

105

ORDINARY

1

33.33

 

 

PAYMENT INFORMATION

 

Average Invoice Value

Ł70.29

Invoices available

14

Paid

14

Outstanding

0

 

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

 

 

Within Terms

0-30 Days

31-60 Days

61-90 Days

91+ Days

Paid

13

0

1

0

0

Outstanding

0

0

0

0

0

 

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

2 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

Holding Company

LAWRENCE BLUNT LIMITED

Ownership Status

Ultimately Owned

Ultimate Holding Company

LAWRENCE BLUNT LIMITED

 

 

Group structure

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

LAWRENCE BLUNT LIMITED

02334973

31.05.2013

N

 

APM MONACO LTD

08048327

31.05.2013

N

 

 

 

FINANCIAL INFORMATION

 

Profit & Loss

Date Of Accounts

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

(%)

31/05/09

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

-

-

-

-

-

-

Ł6,454,027

-15.3%

Ł7,619,598

Export

-

-

-

-

-

-

Ł293,459

-5.8%

Ł311,492

Cost of Sales

-

-

-

-

-

-100%

Ł4,947,483

-20.9%

Ł6,251,159

Gross Profit

-

-

-

-

-

-

Ł1,506,544

10.1%

Ł1,368,439

Wages & Salaries

-

-

-

-

-

-

Ł637,690

4.7%

Ł608,806

Directors Emoluments

-

-

-

-

-

-

-

-

Ł112,036

Operating Profit

-

-

-

-

-

-

Ł436,863

65.4%

Ł264,140

Depreciation

Ł57,823

-19.7%

Ł71,975

10.1%

Ł65,354

116.6%

Ł30,169

-12.4%

Ł34,429

Audit Fees

-

-

-

-

-

-

Ł14,250

-19.1%

Ł17,625

Interest Payments

-

-

-

-

-

-

Ł11,185

-54.4%

Ł24,507

Pre Tax Profit

-

-

-

-

-

-

Ł425,691

77.6%

Ł239,633

Taxation

-

-

-

-

-

-

-Ł124,331

-73.7%

-Ł71,589

Profit After Tax

-

-

-

-

-

-

Ł301,360

79.3%

Ł168,044

Dividends Payable

-

-

-

-

-

-

Ł300,000

-

-

Retained Profit

-

-

-

-

-

-

Ł1,360

-99.2%

Ł168,044

 

Balance Sheet

Date Of Accounts

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

(%)

31/05/09

Tangible Assets

Ł190,674

-2.1%

Ł194,700

-24.3%

Ł257,256

157.8%

Ł99,785

-3.4%

Ł103,286

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

Ł190,674

-2.1%

Ł194,700

-24.3%

Ł257,256

157.8%

Ł99,785

-3.4%

Ł103,286

Stock

Ł750,048

13.8%

Ł659,335

-10.7%

Ł737,985

-36.2%

Ł1,155,918

-45.3%

Ł2,112,022

Trade Debtors

Ł1,069,369

-29.5%

Ł1,517,107

50.2%

Ł1,010,087

-36.7%

Ł1,596,083

20.5%

Ł1,324,153

Cash

Ł1,023,291

-31.1%

Ł1,485,188

54.4%

Ł961,874

999.9%

Ł21,213

-

0

Other Debtors

0

-

0

-

0

-100%

Ł58,449

-5.1%

Ł61,580

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

Ł2,842,708

-22.4%

Ł3,661,630

35.1%

Ł2,709,946

-4.3%

Ł2,831,663

-19%

Ł3,497,755

Trade Creditors

Ł848,098

-55.3%

Ł1,898,099

57.9%

Ł1,202,234

31.8%

Ł912,452

-25.8%

Ł1,229,841

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-100%

Ł570,087

Other Short Term Finance

0

-

0

-

0

-

0

-100%

Ł6,819

Miscellaneous Current Liabilities

0

-

0

-

0

-100%

Ł496,236

81.8%

Ł272,894

Total Current Liabilities

Ł848,098

-55.3%

Ł1,898,099

57.9%

Ł1,202,234

-14.7%

Ł1,408,688

-32.3%

Ł2,079,641

Bank Loans & Overdrafts and LTL

0

-

0

-

0

-

0

-100%

Ł570,087

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-

0

-

0

-

0

-

0

.

Capital & Reserves

Date Of Accounts

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

(%)

31/05/09

Called Up Share Capital

Ł315

-

Ł315

-

Ł315

-

Ł315

-

Ł315

P & L Account Reserve

Ł2,085,039

12.2%

Ł1,857,986

11.6%

Ł1,664,723

17%

Ł1,422,515

0.1%

Ł1,421,155

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

Ł99,930

-

Ł99,930

-

Ł99,930

-

Ł99,930

-

Ł99,930

Shareholder Funds

Ł2,185,284

11.6%

Ł1,958,231

10.9%

Ł1,764,968

15.9%

Ł1,522,760

0.1%

Ł1,521,400

 

Other Financial Items

Date Of Accounts

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

(%)

31/05/09

Net Worth

Ł2,185,284

11.6%

Ł1,958,231

10.9%

Ł1,764,968

15.9%

Ł1,522,760

0.1%

Ł1,521,400

Working Capital

Ł1,994,610

13.1%

Ł1,763,531

17%

Ł1,507,712

6%

Ł1,422,975

0.3%

Ł1,418,114

Total Assets

Ł3,033,382

-21.3%

Ł3,856,330

30%

Ł2,967,202

1.2%

Ł2,931,448

-18.6%

Ł3,601,041

Total Liabilities

Ł848,098

-55.3%

Ł1,898,099

57.9%

Ł1,202,234

-14.7%

Ł1,408,688

-32.3%

Ł2,079,641

Net Assets

Ł2,185,284

11.6%

Ł1,958,231

10.9%

Ł1,764,968

15.9%

Ł1,522,760

0.1%

Ł1,521,400

 

 

Cash Flow

Date Of Accounts

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

(%)

31/05/09

Net Cashflow from Operations

-

-

-

-

-

-

Ł1,007,538

999.9%

-Ł87,615

Net Cashflow before Financing

-

-

-

-

-

-100%

Ł598,119

574%

-Ł126,190

Net Cashflow from Financing

-

-

-

-

-

-

-Ł6,819

66.2%

-Ł20,202

Increase in Cash

-

-

-

-

-

-

Ł591,300

503.9%

-Ł146,392

 

 

Miscellaneous

Date Of Accounts

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

(%)

31/05/09

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

Ł2,185,284

11.6%

Ł1,958,231

10.9%

Ł1,764,968

15.9%

Ł1,522,760

0.1%

Ł1,521,400

Number of Employees

-

-

-

-

-

-

18

5.9%

17

Auditors

 

Auditor Comments

The company is exempt from audit

Bankers

BARCLAYS BANK PLC

Bank Branch Code

 

 

 

 

 

 

Ratios

Date Of Accounts

31/05/13

31/05/12

31/05/11

31/05/10

31/05/09

Pre-tax profit margin %

-

-

-

6.60

3.14

Current ratio

3.35

1.93

2.25

2.01

1.68

Sales/Net Working Capital

-

-

-

4.54

5.37

Gearing %

0

0

0

0

37.50

Equity in %

72

50.80

59.50

51.90

42.20

Creditor Days

-

-

-

51.46

58.75

Debtor Days

-

-

-

90.01

63.25

Liquidity/Acid Test

2.46

1.58

1.64

1.18

0.66

Return On Capital Employed %

-

-

-

27.95

15.75

Return On Total Assets Employed %

-

-

-

14.52

6.65

Current Debt Ratio

0.38

0.96

0.68

0.92

1.36

Total Debt Ratio

0.38

0.96

0.68

0.92

1.36

Stock Turnover Ratio %

-

-

-

17.91

27.71

Return on Net Assets Employed %

-

-

-

27.95

15.75

 

 

FOREIGN EXCHANGE RATES

 

N/a

 

 

ADDITIONAL INFORMATION

 

Status History

No Status History found

 

 

*Event History

Date

Description

08/08/2014

Annual Returns

01/01/2014

New Accounts Filed

30/07/2013

Annual Returns

10/01/2013

New Accounts Filed

20/07/2012

Annual Returns

14/12/2011

New Accounts Filed

26/07/2011

Annual Returns

09/11/2010

New Accounts Filed

09/11/2010

New Accounts Filed

02/10/2010

Annual Returns

22/12/2009

New Accounts Filed

25/08/2009

Annual Returns

07/01/2009

New Accounts Filed

02/08/2008

Annual Returns

18/02/2008

New Accounts Filed

 

Previous Company Names

No Previous Names found

 

 

NOTES & COMMENTS

 

Commentary

No exact match CCJs are recorded against the company.

 

There is insufficient data to indicate a change in this company's percentage of sales.

 

Net Worth increased by 11.6% during the latest trading period.

 

 

A 21.3% decline in Total Assets occurred during the latest trading period.

 

There is insufficient data to indicate a change in this company's pre-tax profit.

 

The company saw a decrease in their Cash Balance of 31.1% during the latest trading period.

 

The company is exempt from audit.

 

No recent changes in directorship are recorded.

 

The company is part of a group.

 

The movement in accumulated earnings would indicate that the company made a profit after tax and other appropriations, including dividends.

 

The company was established over 25 years ago.

 

Show more

 

 

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.

-            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 –

 

-            Gem & Jewellery Export Promotion Council in its statistical data has shown the export of polished diamonds to have increase by 28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012, India exported $ 1.84 billion worth of polished diamonds in February 2013. A senior executive of GJEPC said, “Export of cut and polished diamonds started falling month-wise after the imposition of 2 % of import duty on the polished diamonds. But February, 2013 has given a new ray of hope to the industry as the export of polished diamonds has actually increased by 28 %. It means the industry  is on the track of recovery and round tripping of diamonds has stopped completely.” Demand has started coming from the US, the UK, Japan and China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.

 

-            The banking sector has started exercising restraint while following prudent risk management norms when lending money to gems and jewellery sector. This follows the implementation of Basel III accord – a global voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.66

UK Pound

1

Rs.100.80

Euro

1

Rs.80.72

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

NIS

 

               

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%)

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