MIRA INFORM REPORT
|
Report Date : |
22.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
DAYMOUNT LTD. |
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Registered Office : |
Battle House 1 East Barnet Roa, Barnet, EN4 8RR |
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Country : |
United Kingdom |
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|
Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
14.02.1994 |
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Com. Reg. No.: |
02897794
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Legal Form : |
Private Subsidiary |
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|
Line of Business : |
Manufacturer of PC |
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No of Employees : |
5 |
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 |
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Payment Behaviour : |
Slow But Correct |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
United Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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
DETAILS
|
Daymount Ltd. |
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Business
Description
|
General merchants, traders, importers and exporters.
Industry
|
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: |
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UK SIC 2007: |
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US SIC 1987: |
Key
Executives
|
Name |
Title |
|
A. Nick |
Company Secretary |
|
Nitesh Juthani |
Director |
Financial
Summary
|
|
FYE: 31-Mar-2013 |
USD (mil) |
||||||||||||||||||
|
|||||||||||||||||||
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6329098
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6591356
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ANZSIC 2006 Codes: |
||
|
3739 |
- |
Other Goods Wholesaling Not Elsewhere
Classified |
|
ISIC Rev 4 Codes: |
||
|
4610 |
- |
Wholesale on a fee or contract basis |
|
NACE Rev 2 Codes: |
||
|
4619 |
- |
Agents involved in the sale of a variety
of goods |
|
NAICS 2012 Codes: |
||
|
425120 |
- |
Wholesale Trade Agents and Brokers |
|
US SIC 1987: |
||
|
5099 |
- |
Durable Goods, Not Elsewhere Classified |
|
UK SIC 2007: |
||
|
4619 |
- |
Agents involved in the sale of a variety
of goods |
General merchants, traders, importers and exporters.
More
Business Descriptions
PC Manufacturers
|
|
|
Auditor: |
Taylors |
|
Bank: |
Banco Bilbao Vizcaya |
|
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Auditor: |
Taylors, Taylors |
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Auditor History |
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Taylors |
31-Mar-2013 |
|
Taylors |
31-Mar-2012 |
|
Taylors |
31-Mar-2011 |
|
Taylors |
31-Mar-2010 |
|
Taylors |
31-Mar-2009 |
|
Description |
Action Date |
Publication |
Publication Date |
|
Striking Off Notice Discontinued |
13-Feb-2009 |
13-Feb-2009 |
|
|
Striking Off Notice |
23-Jan-2009 |
10-Feb-2009 |
Corporate Family
|
Corporate Structure News: |
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Daymount Ltd. |
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|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
Source |
|
Ickfield Ltd |
Parent |
||||||
|
Subsidiary |
Barnet |
United Kingdom |
Miscellaneous Wholesale |
10.8 |
5 |
EXP |
Executives
Report
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Directors and Shareholders Report
|
Main Office Address: |
Tel: 020 8349 0039 |
Annual Return Date: 14 Feb 2013 |
|
Individual Directors |
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|||||||
|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of
Directorships |
|
|
Current |
17 Dec 1968 |
C/O Taylors, Battle House, |
01 Mar 2007 |
NA |
Current:1 |
||
|
Previous |
08 Jun 1939 |
1 St Johns Road, |
01 Jun 2000 |
22 Dec 2004 |
Current:1 |
||
|
Previous |
11 Jan 1972 |
9 Squirrels Close, |
24 Sep 2004 |
01 Mar 2007 |
Current:0 |
||
|
Previous |
21 Aug 1973 |
8 Edmunds Walk, |
19 Dec 1996 |
01 Jun 2000 |
Current:1 |
||
|
Previous |
13 Feb 1973 |
300 Regents Park Road, Finchley Central, |
30 Sep 1994 |
01 Jun 2000 |
Current:0 |
||
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Corporate
Directors |
||||
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||||
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Company
Name |
Status |
Registered
Address |
Appointment
Date |
Resignation
Date |
|
First Directors Limited |
Previous |
72 New Bond Street, |
14 Feb 1994 |
30 Sep 1994 |
|
Individual
Secretaries |
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|||||||
|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of
Directorships |
|
|
Previous |
NA |
4 Little Common, |
01 Jun 2003 |
22 Dec 2004 |
Current:0 |
||
|
Previous |
26 May 1947 |
4 Little Common, |
30 Sep 1994 |
22 Dec 2004 |
Current:0 |
||
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|||||||
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Corporate
Secretaries |
||||
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||||
|
Company Name |
Status |
Registered
Address |
Appointment Date |
Resignation Date |
|
Taylors Secretaries Limited |
Previous |
Battle House, 1 East Barnet Road, |
24 Sep 2004 |
01 Oct 2009 |
|
Incorporate Secretariat Limited |
Previous |
72 New Bond Street, |
14 Feb 1994 |
30 Sep 1994 |
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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 |
|
Ickfield Ltd |
75000 Ordinary GBP 1.00 |
Ordinary |
75,000 |
1.00 |
75,000.00 |
100.00 |
|
Corporate Shareholders |
|
|
|
There are no corporate shareholders for this company. |
Annual Profit & Loss
|
Financials
in: USD (mil) |
|
|
Except
for share items (millions) and per share items (actual units) |
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.63291 |
0.626752 |
0.643394 |
0.627794 |
0.592803 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Turnover (UK) |
10.8 |
9.7 |
17.3 |
23.2 |
- |
|
Turnover (Exports) |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Total Turnover |
10.8 |
9.7 |
17.3 |
23.2 |
20.8 |
|
Cost of Sales |
10.6 |
9.5 |
17.2 |
23.0 |
20.6 |
|
Gross Profit |
0.2 |
0.2 |
0.2 |
0.2 |
0.2 |
|
Other Expenses |
0.1 |
0.1 |
0.0 |
0.0 |
0.1 |
|
Operating Profit |
0.1 |
0.1 |
- |
- |
0.1 |
|
Other Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Paid |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Exceptional Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit Before Taxes |
0.1 |
0.0 |
0.1 |
0.1 |
0.0 |
|
Tax Payable / Credit |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividends |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit After Taxes |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Audit Fees |
- |
- |
0.0 |
0.0 |
0.0 |
|
Wages |
- |
0.0 |
0.0 |
0.0 |
- |
|
Social Security Costs |
- |
- |
0.0 |
0.0 |
- |
|
Other Pension Costs |
- |
- |
0.0 |
0.0 |
- |
|
Employees Remuneration |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Directors Remuneration |
- |
- |
0.0 |
0.0 |
0.0 |
Annual Balance Sheet
|
Financials
in: USD (mil) |
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.659136 |
0.628108 |
0.62385 |
0.659239 |
0.697666 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Land & Buildings |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Fixtures & Fittings |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Plant & Vehicles |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
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 |
|
Stocks |
0.0 |
0.2 |
0.4 |
0.2 |
0.2 |
|
Work in Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Stocks Work In Progress |
0.0 |
0.2 |
0.4 |
0.2 |
0.2 |
|
Trade Debtors |
1.6 |
1.1 |
2.5 |
3.6 |
5.3 |
|
Other Debtors |
0.5 |
0.2 |
1.1 |
1.0 |
0.0 |
|
Total Debtors |
2.1 |
1.3 |
3.6 |
4.6 |
5.3 |
|
Cash and Equivalents |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Current Assets |
1.1 |
1.1 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
3.1 |
2.7 |
4.0 |
4.9 |
5.5 |
|
Total Assets |
3.1 |
2.7 |
4.0 |
4.9 |
5.5 |
|
Trade Creditors |
2.4 |
2.0 |
3.3 |
4.3 |
5.0 |
|
Bank Overdraft |
0.0 |
- |
- |
- |
0.0 |
|
Inter-Company Creditors |
0.0 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Director Loans (Current Liability) |
0.0 |
- |
- |
- |
- |
|
Hire Purchase (Current Liability) |
0.0 |
- |
- |
- |
- |
|
Finance Lease (Current Liability) |
0.0 |
- |
- |
- |
- |
|
Total Finance Lease/Hire Purchase (Current Liability) |
0.0 |
- |
- |
- |
- |
|
Total Short Term Loans |
0.0 |
- |
- |
- |
- |
|
Accruals/Deferred Income (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Social Security/VAT |
0.0 |
- |
- |
0.0 |
0.0 |
|
Corporation Tax |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividends (Current Liability) |
0.0 |
- |
- |
- |
- |
|
Other Current Liabilities |
0.0 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Current Liabilities |
2.5 |
2.2 |
3.6 |
4.5 |
5.2 |
|
Group Loans (Long Term Liability) |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Loans (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Hire Purchase (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Leasing (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Loans |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Liabilities |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Long Term Liabilities |
0.2 |
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 |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
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 |
0.4 |
0.4 |
0.3 |
0.3 |
0.2 |
|
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 |
0.5 |
0.5 |
0.4 |
0.4 |
0.3 |
|
Net Worth |
0.5 |
0.5 |
0.4 |
0.4 |
0.3 |
Annual Cash Flows
|
Financials
in: USD (mil) |
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.63291 |
0.626752 |
0.643394 |
0.627794 |
0.592803 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Net Cash Flow From Operating Activities |
0.1 |
0.1 |
0.0 |
0.1 |
0.1 |
|
Net Cash Flow from ROI and Servicing of Finance |
-0.1 |
-0.1 |
0.0 |
-0.1 |
-0.1 |
|
Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Capital Expenditures |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Acquisitions and Disposals |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Paid Up Equity |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Management of Liquid Resources |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Cash Flow From Financing |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Increase in Cash |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Annual Ratios
|
Financials
in: USD (mil) |
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.659136 |
0.628108 |
0.62385 |
0.659239 |
0.697666 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
1.27 |
1.22 |
1.13 |
1.08 |
1.06 |
|
Liquidity Ratio |
1.27 |
1.11 |
1.01 |
1.03 |
1.02 |
|
Stock Turnover |
- |
40.48 |
43.21 |
93.55 |
76.36 |
|
Credit Period (Days) |
55.61 |
41.12 |
50.79 |
59.00 |
108.71 |
|
Working Capital by Sales |
6.35% |
4.98% |
2.50% |
1.71% |
1.76% |
|
Trade Credit by Debtors |
1.54 |
1.79 |
1.34 |
1.20 |
0.95 |
|
Return on Capital |
7.37% |
9.62% |
13.75% |
16.05% |
9.15% |
|
Return on Assets |
1.55% |
1.74% |
1.53% |
1.24% |
0.52% |
|
Profit Margin |
0.47% |
0.48% |
0.34% |
0.27% |
0.16% |
|
Return on Shareholders Funds |
9.78% |
9.62% |
13.75% |
16.05% |
9.15% |
|
Borrowing Ratio |
17.25% |
18.66% |
20.21% |
22.68% |
25.92% |
|
Equity Gearing |
15.83% |
18.06% |
11.14% |
7.73% |
5.65% |
|
Debt Gearing |
17.20% |
- |
- |
- |
- |
|
Interest Coverage |
0.67 |
0.82 |
0.62 |
0.55 |
0.54 |
|
Employee Remuneration by Sales |
0.09% |
0.10% |
0.05% |
0.04% |
- |
|
Creditor Days (Cost of Sales Based) |
87.40 |
75.08 |
68.98 |
71.52 |
104.48 |
|
Creditor Days (Sales Based) |
85.85 |
73.77 |
68.30 |
70.90 |
103.47 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.16 |
|
|
1 |
Rs. 103.44 |
|
Euro |
1 |
Rs. 85.26 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.