MIRA INFORM REPORT

Report Date :

04.12.2014

IDENTIFICATION DETAILS

Name :	LAWRENCE BLUNT LIMITED
Registered Office :	Shelley Stock Hutter 1^st 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 £375 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 1^st Floor 7-10 Chandos Street W1G9DQ	Trading Address	1^st 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	£315	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
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
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
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 £0

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	£70.29
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

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	-	-	-	-	-	-	£6,454,027	-15.3%	£7,619,598
Export	-	-	-	-	-	-	£293,459	-5.8%	£311,492
Cost of Sales	-	-	-	-	-	-100%	£4,947,483	-20.9%	£6,251,159
Gross Profit	-	-	-	-	-	-	£1,506,544	10.1%	£1,368,439
Wages & Salaries	-	-	-	-	-	-	£637,690	4.7%	£608,806
Directors Emoluments	-	-	-	-	-	-	-	-	£112,036
Operating Profit	-	-	-	-	-	-	£436,863	65.4%	£264,140
Depreciation	£57,823	-19.7%	£71,975	10.1%	£65,354	116.6%	£30,169	-12.4%	£34,429
Audit Fees	-	-	-	-	-	-	£14,250	-19.1%	£17,625
Interest Payments	-	-	-	-	-	-	£11,185	-54.4%	£24,507
Pre Tax Profit	-	-	-	-	-	-	£425,691	77.6%	£239,633
Taxation	-	-	-	-	-	-	-£124,331	-73.7%	-£71,589
Profit After Tax	-	-	-	-	-	-	£301,360	79.3%	£168,044
Dividends Payable	-	-	-	-	-	-	£300,000	-	-
Retained Profit	-	-	-	-	-	-	£1,360	-99.2%	£168,044

Balance Sheet

Date Of Accounts	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09
Tangible Assets	£190,674	-2.1%	£194,700	-24.3%	£257,256	157.8%	£99,785	-3.4%	£103,286
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£190,674	-2.1%	£194,700	-24.3%	£257,256	157.8%	£99,785	-3.4%	£103,286
Stock	£750,048	13.8%	£659,335	-10.7%	£737,985	-36.2%	£1,155,918	-45.3%	£2,112,022
Trade Debtors	£1,069,369	-29.5%	£1,517,107	50.2%	£1,010,087	-36.7%	£1,596,083	20.5%	£1,324,153
Cash	£1,023,291	-31.1%	£1,485,188	54.4%	£961,874	999.9%	£21,213	-	0
Other Debtors	0	-	0	-	0	-100%	£58,449	-5.1%	£61,580
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£2,842,708	-22.4%	£3,661,630	35.1%	£2,709,946	-4.3%	£2,831,663	-19%	£3,497,755
Trade Creditors	£848,098	-55.3%	£1,898,099	57.9%	£1,202,234	31.8%	£912,452	-25.8%	£1,229,841
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-100%	£570,087
Other Short Term Finance	0	-	0	-	0	-	0	-100%	£6,819
Miscellaneous Current Liabilities	0	-	0	-	0	-100%	£496,236	81.8%	£272,894
Total Current Liabilities	£848,098	-55.3%	£1,898,099	57.9%	£1,202,234	-14.7%	£1,408,688	-32.3%	£2,079,641
Bank Loans & Overdrafts and LTL	0	-	0	-	0	-	0	-100%	£570,087
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	£315	-	£315	-	£315	-	£315	-	£315
P & L Account Reserve	£2,085,039	12.2%	£1,857,986	11.6%	£1,664,723	17%	£1,422,515	0.1%	£1,421,155
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£99,930	-	£99,930	-	£99,930	-	£99,930	-	£99,930
Shareholder Funds	£2,185,284	11.6%	£1,958,231	10.9%	£1,764,968	15.9%	£1,522,760	0.1%	£1,521,400

Other Financial Items

Date Of Accounts	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09
Net Worth	£2,185,284	11.6%	£1,958,231	10.9%	£1,764,968	15.9%	£1,522,760	0.1%	£1,521,400
Working Capital	£1,994,610	13.1%	£1,763,531	17%	£1,507,712	6%	£1,422,975	0.3%	£1,418,114
Total Assets	£3,033,382	-21.3%	£3,856,330	30%	£2,967,202	1.2%	£2,931,448	-18.6%	£3,601,041
Total Liabilities	£848,098	-55.3%	£1,898,099	57.9%	£1,202,234	-14.7%	£1,408,688	-32.3%	£2,079,641
Net Assets	£2,185,284	11.6%	£1,958,231	10.9%	£1,764,968	15.9%	£1,522,760	0.1%	£1,521,400

Cash Flow

Date Of Accounts	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09
Net Cashflow from Operations	-	-	-	-	-	-	£1,007,538	999.9%	-£87,615
Net Cashflow before Financing	-	-	-	-	-	-100%	£598,119	574%	-£126,190
Net Cashflow from Financing	-	-	-	-	-	-	-£6,819	66.2%	-£20,202
Increase in Cash	-	-	-	-	-	-	£591,300	503.9%	-£146,392

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	£2,185,284	11.6%	£1,958,231	10.9%	£1,764,968	15.9%	£1,522,760	0.1%	£1,521,400
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 8^th Century B.C.  India, in fact, remained undisputed leader till 18^th 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 30^th 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.61.89
UK Pound	1	Rs.96.83
Euro	1	Rs.76.57

INFORMATION DETAILS

Report Prepared by :

TPT

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.