MIRA INFORM REPORT

 

 

Report Date :

06.11.2014

 

IDENTIFICATION DETAILS

 

Name :

CHECKER LEATHER LIMITED

 

 

Registered Office :

Unit 2 Western Road Industrial Estate Kilmarnock Ka3 1lu

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

22.10.1979

 

 

Com. Reg. No.:

SC069706

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

·         Wholesaler of Clothing and Footwear.

·         Manufacture of Luggage and The Like, Saddler.

 

 

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 :

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 – 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

 

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Name:           CHECKER LEATHER LIMITED

Company No:              SC069706

Company Status:          Active - Accounts Filed

Registered Address:     Unit 2 Western Road Industrial Estate Kilmarnock Ka3 1lu

 

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

5

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

1

 

Current Directors

Name

Peter Wilson Pattison

Date of Birth

12/10/1949

Officers Title

Mr

Nationality

British

Present Appointments

5

Function

Director

Appointment Date

31/12/1988

 

 

Address

Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire, KA3 1LU

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Scott Forsyth Latimer

Date of Birth

14/02/1945

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

26/05/1992

 

 

Address

Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire, KA3 1LU

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Agnes Janet Pattison

Date of Birth

09/01/1950

Officers Title

Mrs

Nationality

British

Present Appointments

5

Function

Director

Appointment Date

31/12/1988

 

 

Address

Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire, KA3 1LU

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Robert William Gibon Finch

Date of Birth

07/04/1947

Officers Title

Mr

Nationality

British

Present Appointments

3

Function

Director

Appointment Date

15/12/2005

 

 

Address

Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire, KA3 1LU

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Ian Howard Collinge

Date of Birth

20/09/1963

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

01/01/2010

 

 

Address

Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire, KA3 1LU

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

Current Company Secretary

Name

Agnes Janet Pattison

Date of Birth

09/01/1950

Officers Title

Mrs

Nationality

British

Present Appointments

5

Function

Company Secretary

Appointment Date

31/12/1988

 

 

Address

Kenway Cottage, Kilmaurs, Kilmarnock, Ayrshire, KA3 2PG

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

Laurence Wilson Pattison

0

1

 

 

NEGATIVE INFORMATION

 

Mortgage Summary

 

Total Mortgage

5

Outstanding

3

Satisfied

2

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 -

-

 

 

 

Mortgage Details

 

Mortgage Type:

FLOATING CHARGE

Date Charge Created:

26/10/12

 

 

Date Charge Registered:

01/11/12

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

CLYDESDALE BANK PLC

Amount Secured:

ALL SUMS DUE OR TO BECOME DUE

Details:

UNDERTAKING & ALL PROPERTY & ASSETS PRESENT & FUTURE, INCLUDING UNCALLED CAPITAL

 

Mortgage Type:

FLOATING CHARGE

Date Charge Created:

13/11/01

 

 

Date Charge Registered:

15/11/01

 

 

Date Charge Satisfied:

11/10/08

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

LLOYDS TSB COMMERCIAL FINANCE LIMITED

Amount Secured:

ALL SUMS DUE OR TO BECOME DUE

Details:

UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY INCLUDING UNCALLED CAPITAL

 

Mortgage Type:

STANDARD SECURITY

Date Charge Created:

20/11/95

 

 

Date Charge Registered:

28/11/95

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

CLYDESDALE BANK PUBLIC LIMITED COMPANY

Amount Secured:

ALL SUMS DUE OR TO BECOME DUE

Details:

THE STATION,CROSSHOUSE ROAD,KILMAURS

 

Mortgage Type:

FLOATING CHARGE

Date Charge Created:

23/03/93

 

 

Date Charge Registered:

01/04/93

 

 

Date Charge Satisfied:

13/06/03

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

ENTERPRISE AYRSHIRE

Amount Secured:

ALL SUMS DUE OR TO BECOME DUE

Details:

UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY INCLUDING UNCALLED CAPITAL

 

Mortgage Type:

FLOATING CHARGE

Date Charge Created:

13/05/86

 

 

Date Charge Registered:

23/05/86

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

CLYDESDALE BANK PUBLIC LIMITED COMPANY

Amount Secured:

ALL SUMS DUE OR TO BECOME DUE

Details:

UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY INCLUDING UNCALLED CAPITAL

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

PETER PATTISON

GBP

15,640

PREFERENCE

1

33.35

AGNES JANET PATTISON

GBP

15,640

PREFERENCE

1

33.35

SCOTT LATIMER

GBP

14,720

PREFERENCE

1

31.39

PETER PATTISON

GBP

315

ORDINARY

1

0.67

AGNES JANET PATTISON

GBP

297

ORDINARY

1

0.63

SCOTT LATIMER

GBP

288

ORDINARY

1

0.61

 

 

PAYMENT INFORMATION

 

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade

4

Total Value of Documented Trade

£4,058

 

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

4

£4,058

 

Company Name

Amount

Statement Date

Plain Leather Limited

£1,717

30/08/2012

Freeland Travel Goods Limited

£1,578

21/05/2013

D R Swann (St Albans) Limited

£608

02/02/2012

Mille Murano Limited

£155

12/06/2013

 

Average Invoice Value

£100.88

Invoices available

31

Paid

31

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

17

12

1

1

0

Outstanding

0

0

0

0

0

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

-

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

-

Ownership Status

 

Ultimate Holding Company

-

 

Group structure

No group structure

 

 

FINANCIAL INFORMATION

 

 

Profit & Loss

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

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

£3,881

27.1%

£3,054

1.2%

£3,018

-25%

£4,023

-37.7%

£6,454

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

Balance Sheet

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Tangible Assets

£20,185

120.2%

£9,165

1.3%

£9,045

-25%

£12,063

-37.7%

£19,363

Intangible Assets

£14,000

-9.7%

£15,500

-8.8%

£17,000

-8.1%

£18,500

-7.5%

£20,000

Total Fixed Assets

£34,185

38.6%

£24,665

-5.3%

£26,045

-14.8%

£30,563

-22.4%

£39,363

Stock

£742,197

109.6%

£354,131

-26.3%

£480,288

1.8%

£471,929

-2.8%

£485,301

Trade Debtors

£822,874

-7.7%

£891,893

38.3%

£644,874

52.9%

£421,823

-21.5%

£537,064

Cash

£42,981

-53.7%

£92,734

62%

£57,254

-7.6%

£61,985

10.2%

£56,259

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£1,608,052

20.1%

£1,338,758

13.2%

£1,182,416

23.7%

£955,737

-11.4%

£1,078,624

Trade Creditors

£959,327

2.7%

£934,359

3.7%

£901,350

34%

£672,633

-13.6%

£778,786

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

0

Total Current Liabilities

£959,327

2.7%

£934,359

3.7%

£901,350

34%

£672,633

-13.6%

£778,786

Bank Loans & Overdrafts and LTL

£4,643

153.3%

£1,833

1.3%

£1,809

-25%

£2,413

-41.7%

£4,139

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

£4,643

153.3%

£1,833

1.3%

£1,809

-25%

£2,413

-41.7%

£4,139

 

Capital & Reserves

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Called Up Share Capital

£126,900

-

£126,900

170.6%

£46,900

999.9%

£900

-98.1%

£46,900

P & L Account Reserve

£551,367

83.6%

£300,331

16.2%

£258,402

-2.3%

£264,354

-8.3%

£288,162

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-100%

£46,000

-

-

Shareholder Funds

£678,267

58.8%

£427,231

39.9%

£305,302

-1.9%

£311,254

-7.1%

£335,062

 

Other Financial Items

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Net Worth

£664,267

61.3%

£411,731

42.8%

£288,302

-1.5%

£292,754

-7.1%

£315,062

Working Capital

£648,725

60.4%

£404,399

43.9%

£281,066

-0.7%

£283,104

-5.6%

£299,838

Total Assets

£1,642,237

20.4%

£1,363,423

12.8%

£1,208,461

22.5%

£986,300

-11.8%

£1,117,987

Total Liabilities

£963,970

3%

£936,192

3.7%

£903,159

33.8%

£675,046

-13.8%

£782,925

Net Assets

£678,267

58.8%

£427,231

39.9%

£305,302

-1.9%

£311,254

-7.1%

£335,062

 

Cash Flow

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

Miscellaneous

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£682,910

59.2%

£429,064

39.7%

£307,111

-2.1%

£313,667

-7.5%

£339,201

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

 

Auditor Comments

The company is exempt from audit

Bankers

 

Bank Branch Code

 

 

Ratios

Date Of Accounts

31/12/13

31/12/12

31/12/11

31/12/10

31/12/09

Pre-tax profit margin %

-

-

-

-

-

Current ratio

1.68

1.43

1.31

1.42

1.39

Sales/Net Working Capital

-

-

-

-

-

Gearing %

0.70

0.40

0.60

0.80

1.20

Equity in %

41.70

31.70

25.60

32.20

30.50

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.90

1.05

0.77

0.71

0.76

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

1.41

2.18

2.95

2.16

2.32

Total Debt Ratio

1.42

2.19

2.95

2.16

2.33

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

Enquiries Trend

There have been 21 enquiries in the last 12 months.

There are an average of 2 reports taken each month.

 

Status History

No Status History found

 

Event History

Date

Description

07/06/2014

New Accounts Filed

07/06/2014

New Accounts Filed

13/12/2013

Annual Returns

11/05/2013

New Accounts Filed

13/04/2013

New Accounts Filed

13/04/2013

New Accounts Filed

10/12/2012

Annual Returns

14/05/2012

New Accounts Filed

14/05/2012

New Accounts Filed

09/12/2011

Annual Returns

13/05/2011

New Accounts Filed

13/05/2011

New Accounts Filed

18/12/2010

Annual Returns

20/07/2010

New Accounts Filed

20/07/2010

New Accounts Filed

 

Previous Company Names

No Previous Names found

 

 

NOTES & COMMENTS

 

Commentary

No exact match CCJs are recorded against the company.

 

Net Worth increased by 61.3% during the latest trading period.

 

A 20.4% growth in Total Assets occurred during the latest trading period.

 

The company saw a decrease in their Cash Balance of 53.7% during the latest trading period.

 

 

There is insufficient data to indicate a change in this company's percentage of sales.

 

There is insufficient data to indicate a change in this company's pre-tax profit.

 

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 made a profit after tax and other appropriations, including dividends.

 

The company was established over 34 years ago.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.41

UK Pound

1

Rs.98.06

Euro

1

Rs.76.67

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

 

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.