MIRA INFORM REPORT

Report Date :

12.07.2014

IDENTIFICATION DETAILS

Name :	CLARK DIAMONDS LIMITED
Formerly Known As :	CLARK DIAMONDS (BIRMINGHAM) LIMITED
Registered Office :	62 Tenby Street North, Birmingham, West Midlands, B1 3EG
Country :	United Kingdom
Financials (as on) :	30.06.2013
Date of Incorporation :	06.09.1984
Legal Form :	Private limited with share capital
Line of Business :	· Non Specialized wholesale trade · Diamond Merchants
No. of Employees	15

RATING & COMMENTS

MIRA’s Rating :

A

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
Payment Behaviour :	Regular
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 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
United Kingdom	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	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

CLARK DIAMONDS LIMITED

DIRECTORS/MANAGEMENT

Current Directors

Name	Mark Coleman Barrows	Date of Birth	24/03/1954
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	19/01/1993
Address	Redhill House, Bromsgrove Road, Hunnington, West Midlands, B62 0JS
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	David Kimberley	Date of Birth	24/06/1973
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	01/07/2013
Address	62 Tenby Street North, Birmingham, West Midlands, B1 3EG
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Michael James Barrows	Date of Birth	24/04/1982
Officers Title	Mr	Nationality	British
Present Appointments	5	Function	Director
Appointment Date	01/07/2013
Address	62 Tenby Street North, Birmingham, West Midlands, B1 3EG
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Simon Ian Barrows	Date of Birth	12/04/1984
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	01/07/2013
Address	62 Tenby Street North, Birmingham, West Midlands, B1 3EG
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	Lynn Christina Richardson	Date of Birth	-
Officers Title	Mrs	Nationality	British
Present Appointments	4	Function	Company Secretary
Appointment Date	01/11/2003
Address	33 Doveridge Road, Hall Green, Birmingham, West Midlands, B28 0LT

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Mark Coleman Barrows	2	4
Roy Nevil Wetton	2	4

NEGATIVE INFORMATION

Mortgage Summary

Total Mortgage 2

Outstanding 2

Satisfied 0

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 6

Total Value of Documented Trade £418,369

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	-

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:	03/09/03
Date Charge Registered:	10/09/03
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC 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:	CHARGE
Date Charge Created:	16/11/84
Date Charge Registered:	23/11/84
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED & FLOATING CHARGE OVERALL BOOK & OTHER DEBTS UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL

Creditor Details

	Total Number	Total Value
Trade Creditors	0	-

No Creditor Data

Trade Debtors / Bad Debt Detail

	Total Number of Documented Trade	Total Value of Documented Trade
Trade Debtors	6	£418,369

Company Name	Amount	Statement Date
365 Diamond Limited	£374,882	10/06/2014
M & M Jewellery Limited	£29,056	25/05/2010
Noble Jewellery Limited	£6,829	25/01/2012
Jeeves The Jewellers Limited	£3,939	16/09/2013
Dramer Ltd	£3,521	11/05/2012
The Gold Connection Ltd	£142	08/12/2011

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MARK COLEMAN BARROWS	GBP	1,200	ORDINARY A	1	40
SIMON IAN BARROWS	GBP	900	ORDINARY B	1	30
MICHAEL JAMES BARROWS	GBP	900	ORDINARY B	1	30

PAYMENT INFORMATION

Trade Payment Information

Average Invoice Value	114.18
Invoices available	30
Paid	30
Outstanding	0

Average Invoice Value	£114.18
Invoices available	30
Paid	30
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	30	0	0	0	0
Outstanding	0	0	0	0	0

GROUP STRUCTURE & AFFILIATED COMPANIES

Group structure

No group structure

FINANCIAL INFORMATION

Profit & Loss

Date Of Accounts	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10	(%)	30/06/09
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£11,779,006	5.6%	£11,154,404	14.4%	£9,752,185	5.1%	£9,274,971	32.9%	£6,977,312
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	-	-	-	-	-	-	-	-100%	£5,657,851
Gross Profit	-	-	-	-	-	-	-	-	£1,319,461
Wages & Salaries	£945,644	-11.9%	£1,073,406	2.4%	£1,048,213	6.9%	£980,679	15.1%	£852,132
Directors Emoluments	£111,014	-57.5%	£261,185	-6.5%	£279,324	-15.3%	£329,775	0.3%	£328,921
Operating Profit	£880,693	999.9%	£43,605	-93.2%	£643,147	65.2%	£389,212	73.5%	£224,394
Depreciation	£8,562	-3.1%	£8,834	-15.4%	£10,443	-1.7%	£10,621	-21.8%	£13,586
Audit Fees	£8,750	6.1%	£8,250	1.2%	£8,150	-	£8,150	2.5%	£7,950
Interest Payments	-	-	-	-	-	-	-	-100%	£50
Pre Tax Profit	£882,094	999.9%	£45,969	-92.9%	£644,409	65.5%	£389,257	58.8%	£245,103
Taxation	-£202,131	-870.9%	-£20,818	86.9%	-£158,640	-74.4%	-£90,955	-71.9%	-£52,905
Profit After Tax	£679,963	999.9%	£25,151	-94.8%	£485,769	62.8%	£298,302	55.2%	£192,198
Dividends Payable	£300,000	-	£300,000	-	£300,000	-	£300,000	-	£300,000
Retained Profit	£379,963	238.2%	-£274,849	-248%	£185,769	999.9%	-£1,698	98.4%	-£107,802

Balance Sheet

Date Of Accounts	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10	(%)	30/06/09
Tangible Assets	£28,274	-4.3%	£29,544	-15.2%	£34,836	-1.1%	£35,236	-21.2%	£44,727
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£28,274	-4.3%	£29,544	-15.2%	£34,836	-1.1%	£35,236	-21.2%	£44,727
Stock	£3,025,395	10.9%	£2,728,905	-4.5%	£2,857,404	0.4%	£2,845,163	33.1%	£2,137,698
Trade Debtors	£2,304,043	17.6%	£1,958,689	19%	£1,645,480	-0.2%	£1,648,590	5%	£1,570,761
Cash	£263,706	-71.9%	£939,665	10.3%	£851,725	45.3%	£586,378	-24%	£771,194
Other Debtors	£48,145	-22.2%	£61,900	63.5%	£37,863	8.2%	£35,005	7.1%	£32,695
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£5,641,289	-0.8%	£5,689,159	5.5%	£5,392,472	5.4%	£5,115,136	13.4%	£4,512,348
Trade Creditors	£1,462,062	-27.1%	£2,006,488	55.3%	£1,291,874	6.5%	£1,213,560	21.3%	£1,000,860
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	£776,652	3.8%	£748,454	10.2%	£679,354	19.4%	£569,024	70.6%	£333,609
Miscellaneous Current Liabilities	£321,717	37.1%	£234,592	-48.1%	£452,062	-17.7%	£549,539	36.5%	£402,659
Total Current Liabilities	£2,560,431	-14.4%	£2,989,534	23.4%	£2,423,290	3.9%	£2,332,123	34.3%	£1,737,128
Bank Loans & Overdrafts and LTL	0	-	0	-	0	-	0	-	0
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	0	-	0	-	0	-	0	-	0

Capital & Reserves

Date Of Accounts	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10	(%)	30/06/09
Called Up Share Capital	£3,000	-	£3,000	-	£3,000	-	£3,000	-	£3,000
P & L Account Reserve	£3,100,132	14%	£2,720,169	-9.2%	£2,995,018	6.6%	£2,809,249	-0.1%	£2,810,947
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£6,000	-	£6,000	-	£6,000	-	£6,000	-	£6,000
Shareholder Funds	£3,109,132	13.9%	£2,729,169	-9.1%	£3,004,018	6.6%	£2,818,249	-0.1%	£2,819,947

Other Financial Items

Date Of Accounts	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10	(%)	30/06/09
Net Worth	£3,109,132	13.9%	£2,729,169	-9.1%	£3,004,018	6.6%	£2,818,249	-0.1%	£2,819,947
Working Capital	£3,080,858	14.1%	£2,699,625	-9.1%	£2,969,182	6.7%	£2,783,013	0.3%	£2,775,220
Total Assets	£5,669,563	-0.9%	£5,718,703	5.4%	£5,427,308	5.4%	£5,150,372	13%	£4,557,075
Total Liabilities	£2,560,431	-14.4%	£2,989,534	23.4%	£2,423,290	3.9%	£2,332,123	34.3%	£1,737,128
Net Assets	£3,109,132	13.9%	£2,729,169	-9.1%	£3,004,018	6.6%	£2,818,249	-0.1%	£2,819,947

Cash Flow

Date Of Accounts	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10	(%)	30/06/09
Net Cashflow from Operations	-£349,137	-163.7%	£547,936	-17.6%	£664,818	293.1%	£169,124	-54.5%	£371,992
Net Cashflow before Financing	-£675,959	-868.7%	£87,940	-66.9%	£265,347	243.6%	-£184,816	-71.8%	-£107,587
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-£675,959	-868.7%	£87,940	-66.9%	£265,347	243.6%	-£184,816	-71.8%	-£107,587

Miscellaneous

Date Of Accounts	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10	(%)	30/06/09
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£3,109,132	13.9%	£2,729,169	-9.1%	£3,004,018	6.6%	£2,818,249	-0.1%	£2,819,947
Number of Employees	15	7.1%	14	7.7%	13	18.2%	11	-	11
Auditors	BAKER TILLY AUDIT LIMITED
Auditor Comments	The audit report contains no adverse comments
Bankers	HSBC BANK PLC
Bank Branch Code	40-46-13

Ratios

Date Of Accounts	30/06/13	30/06/12	30/06/11	30/06/10	30/06/09
Pre-tax profit margin %	7.49	0.41	6.61	4.20	3.51
Current ratio	2.20	1.90	2.23	2.19	2.60
Sales/Net Working Capital	3.82	4.13	3.28	3.33	2.51
Gearing %	0	0	0	0	0
Equity in %	54.80	47.70	55.40	54.70	61.90
Creditor Days	45.18	65.47	48.21	47.62	52.21
Debtor Days	71.20	63.91	61.41	64.69	81.94
Liquidity/Acid Test	1.02	0.99	1.04	0.97	1.36
Return On Capital Employed %	28.37	1.68	21.45	13.81	8.69
Return On Total Assets Employed %	15.55	0.80	11.87	7.55	5.37
Current Debt Ratio	0.82	1.09	0.80	0.82	0.61
Total Debt Ratio	0.82	1.09	0.80	0.82	0.61
Stock Turnover Ratio %	25.68	24.46	29.30	30.67	30.63
Return on Net Assets Employed %	28.37	1.68	21.45	13.81	8.69

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Status History

No Status History found

Event History

Date	Description
24/01/2014	Annual Returns
18/11/2013	New Accounts Filed
03/07/2013	New Board Member Mr D. Kimberley appointed
03/07/2013	New Board Member Mr S.I. Barrows appointed
03/07/2013	New Board Member Mr M.J. Barrows appointed
31/01/2013	Annual Returns
30/11/2012	New Accounts Filed
30/01/2012	Annual Returns
13/01/2012	New Accounts Filed
13/01/2012	New Accounts Filed
28/01/2011	Annual Returns
07/01/2011	New Accounts Filed
19/02/2010	New Accounts Filed
19/02/2010	New Accounts Filed
03/03/2009	New Accounts Filed

Previous Company Names

Date	Previous Name
08/11/1993	CLARK DIAMONDS (BIRMINGHAM) LIMITED
23/10/1984	SKYDREAM MARKETING LIMITED

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.

There has been no significant change in the company's credit rating.

Sales in the latest trading period increased 5.6% on the previous trading period.

Net Worth increased by 13.9% during the latest trading period.

A 0.9% decline in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 999.9% compared to the previous trading period.

The company saw a decrease in their Cash Balance of 71.9% during the latest trading period.

The audit report contains no adverse comments.

The company has undergone recent changes in its directorships.

The company is not part of a group.

The company was established over 29 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.19
UK Pound	1	Rs.103.15
Euro	1	Rs.81.87

INFORMATION DETAILS

Analysis Done by :	RAS
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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