MIRA INFORM REPORT

 

 

Report Date :

19.09.2014

 

IDENTIFICATION DETAILS

 

Name :

DIVINE STONES LIMITED

 

 

Registered Office :

19, Fitzroy Square, London, W1T, 6EQ

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

12.04.2007

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

Subject is engaged in Non-Specialized Wholesale Trade. 

 

 

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

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 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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

 

REGISTERED NAME & COMPANY SUMMARY

 

DIVINE STONES LIMITED

 

 

DIRECTORS/MANAGEMENT

 

Current Directors

Name

Paramasivam Giridharan

Date of Birth

30/08/1967

Officers Title

 

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

12/04/2007

 

 

Address

19 Fitzroy Square, London, W1T 6EQ

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Poornima Giridharan

Date of Birth

09/02/1968

Officers Title

 

Nationality

British

Present Appointments

2

Function

Director

Appointment Date

12/04/2007

 

 

Address

19 Fitzroy Square, London, W1T 6EQ

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

Poornima Giridharan

Date of Birth

09/02/1968

Officers Title

 

Nationality

British

Present Appointments

2

Function

Company Secretary

Appointment Date

12/04/2007

 

 

Address

57 Copse Wood Way, Northwood, Middlesex, HA6 2TZ

 

 

NEGATIVE INFORMATION

 

Mortgage Summary

Total Mortgage   0

Outstanding                   0

Satisfied                        0

 

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade         0

Total Value of Documented Trade                        £0

 

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.

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

COMPANY DIRECTORS LIMITED

9352

196298

TEMPLE SECRETARIES LIMITED

11629

198012

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

PARAMASIVAM GIRIDHARAN

GBP

260

ORDINARY

1

26

POORNIMA GIRIDHARAN

GBP

260

ORDINARY

1

26

VIJAY MOHAN KARUPPANNAN

GBP

240

ORDINARY

1

24

ASHOK RAJ MUTHURAJAN

GBP

240

ORDINARY

1

24

 

 

PAYMENT INFORMATION

 

Average Invoice Value

n/a

Invoices available

n/a

Paid

n/a

Outstanding

n/a

 

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

 

 

 

 

 

Outstanding

 

 

 

 

 

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Group structure

No group structure

 

 

FINANCIAL INFORMATION

 

 

Profit & Loss

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

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

£800

-11.1%

£900

30.4%

£690

-33.2%

£1,033

37.7%

£750

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

 

Balance Sheet

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Tangible Assets

£3,198

-20%

£3,998

-9.9%

£4,439

15.4%

£3,845

28.1%

£3,002

Intangible Assets

£48,000

-25%

£64,000

-20%

£80,000

-16.7%

£96,000

-14.3%

£112,000

Total Fixed Assets

£51,198

-24.7%

£67,998

-19.5%

£84,439

-15.4%

£99,845

-13.2%

£115,002

Stock

£10,447

-51.5%

£21,548

23.3%

£17,481

-26.8%

£23,886

119%

£10,909

Trade Debtors

£292,734

25.5%

£233,310

-2.4%

£239,122

-10.9%

£268,347

24.5%

£215,521

Cash

£49,283

210%

£15,899

45.6%

£10,919

-68.7%

£34,926

-19.8%

£43,540

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£352,464

30.2%

£270,757

1.2%

£267,522

-18.2%

£327,159

21.2%

£269,970

Trade Creditors

£386,039

19.9%

£322,088

-2.9%

£331,726

-21.1%

£420,197

7.1%

£392,268

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

£386,039

19.9%

£322,088

-2.9%

£331,726

-21.1%

£420,197

7.1%

£392,268

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

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Called Up Share Capital

£1,000

-

£1,000

-

£1,000

-

£1,000

-

£1,000

P & L Account Reserve

£16,623

6.1%

£15,667

-18.5%

£19,235

231.2%

£5,807

170%

-£8,296

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£17,623

5.7%

£16,667

-17.6%

£20,235

197.3%

£6,807

193.3%

-£7,296

 

 

Other Financial Items

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Net Worth

-£30,377

35.8%

-£47,333

20.8%

-£59,765

33%

-£89,193

25.2%

-£119,296

Working Capital

-£33,575

34.6%

-£51,331

20.1%

-£64,204

31%

-£93,038

23.9%

-£122,298

Total Assets

£403,662

19.2%

£338,755

-3.8%

£351,961

-17.6%

£427,004

10.9%

£384,972

Total Liabilities

£386,039

19.9%

£322,088

-2.9%

£331,726

-21.1%

£420,197

7.1%

£392,268

Net Assets

£17,623

5.7%

£16,667

-17.6%

£20,235

197.3%

£6,807

193.3%

-£7,296

 

 

Cash Flow

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

Miscellaneous

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£17,623

5.7%

£16,667

-17.6%

£20,235

197.3%

£6,807

193.3%

-£7,296

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

 

Auditor Comments

The company is exempt from audit

Bankers

 

Bank Branch Code

 

 

Ratios

Date Of Accounts

31/03/14

31/03/13

31/03/12

31/03/11

31/03/10

Pre-tax profit margin %

-

-

-

-

-

Current ratio

0.91

0.84

0.81

0.78

0.69

Sales/Net Working Capital

-

-

-

-

-

Gearing %

0

0

0

0

0

Equity in %

5

6.10

7.40

2.10

-2.70

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.88

0.77

0.75

0.72

0.66

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

21.90

19.32

16.39

61.73

-53.76

Total Debt Ratio

21.90

19.32

16.39

61.73

-53.76

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

 

FOREIGN EXCHANGE RATES

 

N/a

 

ADDITIONAL INFORMATION

 

Status History

No Status History found.

 

Event History

Date

Description

22/07/2014

New Accounts Filed

19/05/2014

Annual Returns

10/09/2013

New Accounts Filed

08/05/2013

Annual Returns

16/08/2012

New Accounts Filed

23/04/2012

Annual Returns

31/08/2011

New Accounts Filed

30/04/2011

Annual Returns

18/09/2010

New Accounts Filed

19/05/2010

Annual Returns

12/08/2009

New Accounts Filed

28/04/2009

Annual Returns

10/08/2008

New Accounts Filed

01/05/2008

Annual Returns

17/05/2007

TEMPLE SECRETARIES LIMITED has resigned as company secretary

 

Previous Company Names

No Previous Names found.

 

 

NOTES & COMMENTS

 

Commentary

No exact match CCJs are recorded against the company.

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.

 

Net Worth increased by 35.8% during the latest trading period.

A 19.2% growth in Total Assets occurred during the latest trading period.

The company saw an increase in their Cash Balance of 210% 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 made a profit after tax and other appropriations, including dividends.

The company was established over 7 years ago.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.05

UK Pound

1

Rs.99.55

Euro

1

Rs.78.57

 

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.