MIRA INFORM REPORT

Report Date :

20.03.2014

IDENTIFICATION DETAILS

Name :	IMPERIALDIAM LIMITED
Formerly Known As :	RUTVI INDUSTRIAL DIAMONDS LIMITED
Registered Office :	114-116 Curtain Road London EC2A 3AH
Country :	United Kingdom
Financials (as on) :	31.05.2013
Date of Incorporation :	04.05.2000
Com. Reg. No.:	03985742
Legal Form :	Private limited with Share Capital
Line of Business :	Manufacture of Jewellery and related articles
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow but correct
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

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
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

REGISTERED NAME & COMPANY SUMMARY

Company Name	IMPERIALDIAM LIMITED	Company Number	03985742
Registered Address	114-116 CURTAIN ROAD LONDON EC2A 3AH	Trading Address	Assay House 28 Greville Street London London EC1N 8SU
Website Address	http://www.midpsych.co.uk
Telephone Number	-
TPS	-
Incorporation Date	04/05/2000	Company Status	Active - Accounts Filed
Previous Name	RUTVI INDUSTRIAL DIAMONDS LIMITED	Type	Private limited with Share Capital
Date of Change	12/11/2002	Filing Date of Accounts	28/02/2014

DIRECTORS/MANAGEMENT

Total Current Directors	2
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	2

Current Directors

Name	Pranav Arvindkumar Shah	Date of Birth	16/06/1965
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	14/05/2004
Address	22 Compton Avenue, Luton, Bedfordshire, LU4 9AZ
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Mayank Arvindkumar Shah	Date of Birth	28/02/1964
Officers Title	Mr	Nationality	British
Present Appointments	5	Function	Director
Appointment Date	17/05/2000
Address	30 Compton Avenue, Luton, Bedfordshire, LU4 9AZ

NEGATIVE INFORMATION

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 -	1	Total Value of Satisfied CCJs -	£52,953
Total Number of Writs -	-

Exact CCJ Details

There are no exact CCJ details

Possible CCJ Details

There are no possible CCJ details

Writ Details

There are no writ details

Mortgage Summary

Outstanding	0
Satisfied	0

SHARE & SHARE CAPITAL INFORMATION

Share Capital

£2

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MR PRANAV ARVINDKUMAR SHAH	GBP	1	ORDINARY	1	50
MR MAYANK ARVINDKUMAR SHAH	GBP	1	ORDINARY	1	50

PAYMENT INFORMATION

Payment Information Summary

Days Beyond Terms

Trend Indicator

N/A	15
Company DBT	UK Average DBT

Steady

Improving Worsening

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Group structure

No group structure

FINANCIAL INFORMATION

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/05/2013	-	-	£41,050	-
31/05/2012	-	-	£43,402	-
31/05/2011	-	-	£46,820	-

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	-	-	-	-	-	-	-	-	-
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	-	-	-	-	-	-	-	-	-
	Gross Profit	-	-	-	-	-	-	-	-	-
	Wages & Salaries	-	-	-	-	-	-	-	-	-
	Directors Emoluments	-	-	-	-	-	-	-	-	-
	Operating Profit	-	-	-	-	-	-	-	-	-
	Depreciation	£5,838	-0.1%	£5,842	0%	£5,841	8.4%	£5,390	-2.6%	£5,532
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09
	Tangible Assets	£24,257	-19.4%	£30,095	-16.3%	£35,937	-4.2%	£37,521	-12.6%	£42,911
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£24,257	-19.4%	£30,095	-16.3%	£35,937	-4.2%	£37,521	-12.6%	£42,911
	Stock	£261,615	-43.7%	£465,060	-15.3%	£549,373	151%	£218,842	-72.5%	£794,756
	Trade Debtors	£775,442	-17.7%	£941,955	-0.4%	£945,308	-23.5%	£1,236,039	-38.5%	£2,009,768
	Cash	£22,706	-29.3%	£32,104	-67.8%	£99,735	999.9%	£2,385	-73.7%	£9,075
	Other Debtors	0	-	0	-	0	-	0	-	0
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£1,059,763	-26.4%	£1,439,119	-9.7%	£1,594,416	9.4%	£1,457,266	-48.2%	£2,813,599
	Trade Creditors	£1,042,970	-26.9%	£1,425,812	-10%	£1,583,533	16.1%	£1,363,645	-49.7%	£2,712,029
	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
	Other Short Term Finance	0	-	0	-	0	-100%	£67,950	-	0
	Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	0
	Total Current Liabilities	£1,042,970	-26.9%	£1,425,812	-10%	£1,583,533	10.6%	£1,431,595	-47.2%	£2,712,029
	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	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09
	Called Up Share Capital	£2	-	£2	-	£2	-	£2	-	£2
	P & L Account Reserve	£41,048	-5.4%	£43,400	-7.3%	£46,818	-25.9%	£63,190	-56.3%	£144,479
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£41,050	-5.4%	£43,402	-7.3%	£46,820	-25.9%	£63,192	-56.3%	£144,481

Other Financial Items

	Date Of Accounts	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09
	Net Worth	£41,050	-5.4%	£43,402	-7.3%	£46,820	-25.9%	£63,192	-56.3%	£144,481
	Working Capital	£16,793	26.2%	£13,307	22.3%	£10,883	-57.6%	£25,671	-74.7%	£101,570
	Total Assets	£1,084,020	-26.2%	£1,469,214	-9.9%	£1,630,353	9.1%	£1,494,787	-47.7%	£2,856,510
	Total Liabilities	£1,042,970	-26.9%	£1,425,812	-10%	£1,583,533	10.6%	£1,431,595	-47.2%	£2,712,029
	Net Assets	£41,050	-5.4%	£43,402	-7.3%	£46,820	-25.9%	£63,192	-56.3%	£144,481

Cash Flow

	Date Of Accounts	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09
	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-	-	-	-	-

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	£41,050	-5.4%	£43,402	-7.3%	£46,820	-25.9%	£63,192	-56.3%	£144,481

Ratios

	Date Of Accounts	31/05/13	31/05/12	31/05/11	31/05/10	31/05/09
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	1.02	1.01	1.01	1.02	1.04
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	0	0	0	0	0
	Equity in %	3.80	3	2.90	4.20	5.10
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	0.76	0.68	0.65	0.86	0.74
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	25.40	32.85	33.82	22.65	18.77
	Total Debt Ratio	25.40	32.85	33.82	22.65	18.77
	Stock Turnover Ratio %	-	-	-	-	-
	Return on Net Assets Employed %	-	-	-	-

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

SIC03	3622
SIC03 Description	Manufacture of jewellery & related
SIC07	32120
SIC07 Description	MANUFACTURE OF JEWELLERY AND RELATED ARTICLES
Principal Activity	Jewellers.

Current Company Secretary

Name	Neeta Shah	Date of Birth	15/03/1963
Officers Title	Ms	Nationality	British
Present Appointments	1	Function	Company Secretary
Appointment Date	17/05/2000
Address	30 Compton Avenue, Luton, LU4 9AZ

	Number of Employees	-	-	-	-	-	-	-	-	-
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers
	Bank Branch Code

Status History

Date	Description
13/06/2011	Compulsory strike off cancelled
10/06/2011	Dissolution (First Gazt)

Event History

Date	Description
05/03/2014	New Accounts Filed
05/06/2013	Annual Returns
05/06/2013	New Accounts Filed
05/06/2013	New Accounts Filed
12/06/2012	Annual Returns
27/04/2012	New Accounts Filed
27/04/2012	New Accounts Filed
17/06/2011	Annual Returns
10/06/2011	New Accounts Filed
19/06/2010	New Accounts Filed
15/05/2010	Annual Returns
15/06/2009	Annual Returns
05/04/2009	New Accounts Filed
18/03/2009	Annual Returns
06/05/2008	New Accounts Filed

Previous Company Names

Date	Previous Name	Companies House Documents
12/11/2002	RUTVI INDUSTRIAL DIAMONDS LIMITED	View Document

NOTES & COMMENTS

Commentary

CCJ recorded against the company.
The company's credit rating has increased from not rated to 6 but they still fall into a discretionary Credit banding.
There is insufficient data to indicate a change in this company's percentage of sales.
Net Worth decreased by 5.4% during the latest trading period.
A 26.2% 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 29.3% during the latest trading period.
The company is exempt from audit.
No recent changes in directorship are recorded.
The company is not part of a group.
The movement in accumulated earnings would indicate that the company incurred a loss after tax and other appropriations, including dividends.
The company was established over 13 years ago.

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.61.10
UK Pound	1	Rs.101.41
Euro	1	Rs.84.08

INFORMATION DETAILS

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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