MIRA
INFORM REPORT
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Report Date : |
18.01.2014 |
IDENTIFICATION DETAILS
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Name : |
CHECKER LEATHER LTD |
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Registered Office : |
Unit 2, Western Road Industrial Estate Kilmarnock, KA3 1LU |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
22.06.1979 |
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Com. Reg. No.: |
SC069706 |
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Legal Form : |
Private Independent |
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Line of Business : |
·
Manufacturer of luggage and the like, saddlery. ·
Manufacturer and Supplier of Leather and Hide
Products |
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No of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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.
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Source
: CIA |
COMPANY NAME & ADDRESS
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Checker Leather Ltd. |
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Business Description
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The home of Checker Leather Ltd We are distributors of a wide range of
products Checker Leather Ltd - a Queens Award Winner Please press here to
view our current range |
Industry
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Industry |
Clothing and Apparel Wholesale |
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ANZSIC 2006: |
371 - Textile, Clothing and Footwear
Wholesaling |
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ISIC Rev 4: |
4641 - Wholesale of textiles, clothing and
footwear |
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NACE Rev 2: |
4642 - Wholesale of clothing and footwear |
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NAICS 2012: |
4243 - Apparel, Piece Goods, and
Notions Merchant Wholesalers |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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Name |
Title |
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Agnes Janet Pattison |
Director, Secretary |
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Ian Howard Collinge |
Director |
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Robert William Gibon Finch |
Director |
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Scott Forsyth Latimer |
Director |
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Director |
Financial Summary
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FYE: 31-Dec-2012 |
USD (mil) |
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1 - Profit
& Loss Item Exchange Rate: USD 1 = GBP 0.6311738
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6190609
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ANZSIC 2006 Codes: |
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371 |
- |
Textile, Clothing and Footwear Wholesaling |
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ISIC Rev 4 Codes: |
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4641 |
- |
Wholesale of textiles, clothing and footwear |
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NACE Rev 2 Codes: |
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4642 |
- |
Wholesale of clothing and footwear |
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NAICS 2012 Codes: |
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4243 |
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Apparel, Piece Goods, and Notions Merchant Wholesalers |
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US SIC 1987: |
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513 |
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Apparel, Piece Goods, and Notions |
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UK SIC 2007: |
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4642 |
- |
Wholesale of clothing and footwear |
Manufacture of luggage and the like, saddlery.
More Business Descriptions
Manufacture of luggage and the like, saddlery.
Leather and Hide Products (Manufacture and Supply)
The home of Checker Leather Ltd We are distributors of a wide range of
products Checker Leather Ltd - a Queens Award Winner Please press here to view
our current range
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Auditor: |
The Hansen Co |
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Auditor: |
The Hansen Co, The Hansen Co |
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Auditor History |
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The Hansen Co |
31-Dec-2012 |
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The Hansen Co |
31-Dec-2011 |
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The Hansen Co |
31-Dec-2010 |
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Ann G Hansen And Co Ltd |
31-Dec-2009 |
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Ann G Hansen And Co |
31-Dec-2008 |
Executives Report
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Directors
and Shareholders Report
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Main Office Address: |
Tel: 01563541709 |
Annual Return Date: 01 Dec 2013 |
Individual Directors
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of
Directorships |
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Current |
07 Apr 1947 |
Unit 2 Western Road Industrial Estate, Crathie Road, |
15 Dec 2005 |
NA |
Current:1 |
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Current |
12 Oct 1949 |
Kenway Cottage, Kilmaurs, |
31 Dec 1988 |
NA |
Current:5 |
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Current |
14 Feb 1945 |
31 Williamwood Park West, Netherlee, |
26 May 1992 |
NA |
Current:3 |
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Current |
09 Jan 1950 |
Kenway Cottage Kilmaurs, |
31 Dec 1988 |
NA |
Current:5 |
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Current |
20 Sep 1963 |
Unit 2 Western Road Industrial Estate, Crathie Road, |
01 Jan 2010 |
NA |
Current:1 |
Corporate
Directors
There are no corporate directors for this company.
Individual Secretaries
|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of
Directorships |
|
Current |
09 Jan 1950 |
Kenway Cottage Kilmaurs, |
31 Dec 1988 |
NA |
Current:5 |
Corporate
Secretaries
There are no corporate secretaries
for this company.
Individual Shareholders
|
Name |
Share
Details |
Share
Type |
#
of Shares |
Share
Price (GBP) |
Share
Value (GBP) |
%
of Total Shares |
|
Agnes Janet Pattison |
15640 Preference GBP 1.00 |
Preference |
15,640 |
1.00 |
15,640.00 |
33.35 |
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Agnes Janet Pattison |
297 Ordinary GBP 1.00 |
Ordinary |
297 |
1.00 |
297.00 |
0.63 |
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Peter Pattison |
15640 Preference GBP 1.00 |
Preference |
15,640 |
1.00 |
15,640.00 |
33.35 |
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Peter Pattison |
315 Ordinary GBP 1.00 |
Ordinary |
315 |
1.00 |
315.00 |
0.67 |
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Scott Latimer |
14720 Preference GBP 1.00 |
Preference |
14,720 |
1.00 |
14,720.00 |
31.39 |
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Scott Latimer |
288 Ordinary GBP 1.00 |
Ordinary |
288 |
1.00 |
288.00 |
0.61 |
Corporate
Shareholders
There are no corporate shareholders for this company.
Annual
Profit & Loss
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Financials in: USD (mil) |
|
Except for share items (millions) and per
share items (actual units) |
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|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.631174 |
0.623776 |
0.647573 |
0.641508 |
0.545576 |
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Consolidated |
No |
No |
No |
No |
No |
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Depreciation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Annual
Balance Sheet
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Financials in: USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.619061 |
0.643459 |
0.638712 |
0.619253 |
0.695531 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Fixed Assets |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
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Total Stocks Work In Progress |
0.6 |
0.7 |
0.7 |
0.8 |
1.0 |
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Total Debtors |
1.4 |
1.0 |
0.7 |
0.9 |
0.7 |
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Cash and Equivalents |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
2.2 |
1.8 |
1.5 |
1.7 |
1.7 |
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Total Assets |
2.2 |
1.9 |
1.5 |
1.8 |
1.8 |
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Other Current Liabilities |
1.5 |
1.4 |
1.1 |
1.3 |
1.3 |
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Total Current Liabilities |
1.5 |
1.4 |
1.1 |
1.3 |
1.3 |
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Group Loans (Long Term Liability) |
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 |
- |
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Leasing (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Other Long Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Issued Capital |
0.2 |
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 |
0.5 |
0.4 |
0.4 |
0.5 |
0.4 |
|
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 |
0.7 |
0.5 |
0.5 |
0.5 |
0.5 |
|
Net Worth |
0.7 |
0.4 |
0.5 |
0.5 |
0.5 |
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 |
|
|
|
|
|
|
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|
Current Ratio |
1.43 |
1.31 |
1.42 |
1.39 |
1.33 |
|
Liquidity Ratio |
1.05 |
0.78 |
0.72 |
0.76 |
0.57 |
|
Equity Gearing |
3,134.00% |
2,526.00% |
3,156.00% |
2,997.00% |
2,678.00% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.35 |
|
|
1 |
Rs. 100.21 |
|
Euro |
1 |
Rs. 83.52 |
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 |
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.