MIRA INFORM REPORT

 

 

Report Date :

24.09.2014

 

IDENTIFICATION DETAILS

 

Name :

M. MARCUS LIMITED

 

 

Registered Office :

KLSA KLACO House, 28-30 ST. John’s Square London, EC1 M 4DN

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

01.04.1940

 

 

Com. Reg. No.:

00360234

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

·         Retail sale of hardware, Paints and glass in specialised store

·         Dealers in hardware and electrical components

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

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 – 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:

·         M. MARCUS LIMITED

·         Company No:

·         00360234

·         Company Status:

·         Active - Accounts Filed

·         Registered Address:

·         KLSA KLACO HOUSE 28-30 ST. JOHN'S SQUARE LONDON EC1M 4DN

 

Company Name

M. MARCUS LIMITED

Company Number

00360234

Registered Address

KLSA KLACO House

28-30 ST. John’s Square London

EC1 M 4DN

Trading Address

KLSA KLACO House

28-30 ST. John’s Square London

EC1 M 4DN

 

 

 

 

 

 

 

 

 

 

 

 

 

Website Address

www.m-marcus.com

 

 

Telephone Number

-

 

 

TPS

-

 

 

Incorporation Date

01.04.1940

Company Status

Active - Accounts Filed

Previous Name

 

Type

Private limited with Share Capital

Date of Change

-

Filing Date of Accounts

23.12.2013

 

 

Share Capital

£ 100,000

SIC03

 

Currency

GBP

SIC03 Description

Retail sale of hardware, Paints and glass in specialised store

SIC07

47520 

SIC07 Description

Dealers in hardware and electrical components

Principal Activity

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

3

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

4

 

Current Directors

Name

Pankaj Karnani

Date of Birth

15/02/1960

Officers Title

Mr

Nationality

British

Present Appointments

7

Function

Director

Appointment Date

15/01/1992

 

 

Address

19 Holders Hill Road, Hendon, London, NW4 1JP

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Kanta Karnani

Date of Birth

27/12/1933

Officers Title

Mrs

Nationality

Indian

Present Appointments

2

Function

Director

Appointment Date

15/01/1992

 

 

Address

19 Holders Hill Road, Hendon, London, NW4 1JP

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Narendra Karnani

Date of Birth

05/09/1955

Officers Title

Mr

Nationality

British

Present Appointments

3

Function

Director

Appointment Date

15/01/1992

 

 

Address

39 Hendon Avenue, London, N3 1UJ

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Current Company Secretary

Name

Pankaj Karnani

Date of Birth

15/02/1960

Officers Title

Mr

Nationality

British

Present Appointments

7

Function

Company Secretary

Appointment Date

28/01/1995

 

 

Address

19 Holders Hill Road, Hendon, London, NW4 1JP

Other Actions

 

View Consumer Report

View Trace Report

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

Viswanath Karnani

6

1

Robert Montag

0

2

William Leslie Garrett

0

2

William Leslie Garrett

0

2

 

 

NEGATIVE INFORMATION

 

Mortgage Summary

·    Total Mortgage

·    3

·    Outstanding

·    3

·    Satisfied

·    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

Mortgage Details

Mortgage Type:

DEED OF CHARGE OVER CREDIT BALANCES

Date Charge Created:

14/04/11

 

 

Date Charge Registered:

19/04/11

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

BARCLAYS BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

THE CHARGE CREATES A FIXED CHARGE OVER ALL THE DEPOSIT(S) REFERRED TO IN THE SCHEDULE TO THE FORM MG01 (INCLUDING ALL OR ANY PART OF THE MONEY PAYABLE PURSUANTTO SUCH DEPOSIT(S) & THE DEBTS REPRESENTED THEREBY) TOGETHER WITH ALL INTEREST FROM TIME TO TIME ACCRUING THEREON. IT ALSO CREATES AN ASSIGNMENT BY THE CHARGORFOR THE PURPOSES OF & TO GIVE EFFECT TOTHE SECURITY OVER THE RIGHT OF THE CHARGORTO REQUIRE REPAYMENT OF SUCH DEPOSIT(S) & INTEREST THEREON BARCLAYS BANK PLCRE M. MARCUS LIMITED BUSINESS PREMIUM ACCOUNT, ACCOUNT NUMBER 83284301

 

Mortgage Type:

GUARANTEE & DEBENTURE

Date Charge Created:

26/10/79

 

 

Date Charge Registered:

05/11/79

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

BARCLAYS BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND/OR ALL OR ANY OF THE OTHERCOMPANIES NAMED THEREIN TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

FIXED AND FLOATING CHARGES UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL WITH ALL BUILDINGS, FIXTURES (INC TRADE FIXTURES) FIXED PLANT & MACHINERY

 

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

12/03/75

 

 

Date Charge Registered:

19/03/75

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

BARCLAYS BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

63 AND 65 HACKNEY ROAD, LONDON E.2.

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

MR NARENDRA KARNANI

GBP

38,381

ORDINARY

1

38.38

MR PANKAJ KARNANI

GBP

38,381

ORDINARY

1

38.38

MRS KANTA KARNANI

GBP

13,000

ORDINARY

1

13

MRS RICHA KARNANI

GBP

5,119

ORDINARY

1

5.12

MRS HEMLATA KARNANI

GBP

5,119

ORDINARY

1

5.12

 

PAYMENT INFORMATION

 

Trade Debtors / Bad Debt Summary

·    Total Number of Documented Trade

·    2

·    Total Value of Documented Trade

·    £5,362

Trade Payment Information

Average Invoice Value

475.30

Invoices available

178

Paid

173

Outstanding

5

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

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

2

£5,362

 

Company Name

Amount

Statement Date

Electrical Contracting Supplies Limited

£4,759

28/03/2013

Exeter Joinery Limited

£603

20/02/2013

 

Average Invoice Value

£475.30

Invoices available

178

Paid

173

Outstanding

5

 

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

75

65

24

8

1

Outstanding

1

1

0

0

3

 

 

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

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

 

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

 

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

 

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

£9,201,432

0.1%

£9,191,834

2.5%

£8,963,428

-19.6%

£11,147,978

643.1%

£1,500,239

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-

-

-

-

-

-

Gross Profit

-

-

-

-

-

-

-

-

-

Wages & Salaries

£2,760,269

62.5%

£1,699,064

-6.6%

£1,819,188

-9.8%

£2,016,731

-67.4%

£6,184,282

Directors Emoluments

£988,364

264.1%

£271,464

68.2%

£161,359

-43.9%

£287,811

-92.1%

£3,625,000

Operating Profit

-£158,257

-114.3%

£1,104,050

28.9%

£856,381

-43.1%

£1,504,521

178.7%

-£1,912,088

Depreciation

£97,833

2.9%

£95,113

-2.1%

£97,116

1.7%

£95,502

4.1%

£91,737

Audit Fees

-

-

-

-

-

-

£27,500

-

-

Interest Payments

£5,106

229.2%

£1,551

-89.6%

£14,886

-89.5%

£141,544

999.9%

£4,397

Pre Tax Profit

£48,520

-96.2%

£1,291,064

27.3%

£1,014,280

-30.9%

£1,468,487

193%

-£1,579,407

Taxation

-£31,081

91.1%

-£348,050

-13.1%

-£307,862

36.7%

-£486,420

-200.3%

£484,771

Profit After Tax

£17,439

-98.2%

£943,014

33.5%

£706,418

-28.1%

£982,067

189.7%

-£1,094,636

Dividends Payable

-

-

-

-

-

-100%

£1,000,000

-

-

Retained Profit

£17,439

-98.2%

£943,014

33.5%

£706,418

999.9%

-£17,933

98.4%

-£1,094,636

 

Balance Sheet

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Tangible Assets

£1,553,636

-6.5%

£1,661,228

-10.5%

£1,856,467

41.8%

£1,309,043

-16.3%

£1,564,428

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£1,553,636

-6.5%

£1,661,228

-10.5%

£1,856,467

41.8%

£1,309,043

-16.3%

£1,564,428

Stock

£2,278,760

4.4%

£2,182,235

-0.3%

£2,187,756

87.1%

£1,169,584

-29%

£1,646,478

Trade Debtors

£1,797,919

-27.2%

£2,468,848

-5%

£2,600,016

-24.2%

£3,429,070

39.6%

£2,455,986

Cash

£7,560,916

20.5%

£6,273,274

17.6%

£5,332,486

-15.5%

£6,307,586

-37.8%

£10,138,351

Other Debtors

£448,031

121.1%

£202,620

-67.2%

£617,713

12.3%

£550,173

-31.3%

£801,389

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£12,085,626

8.6%

£11,126,977

3.6%

£10,737,971

-6.3%

£11,456,413

-23.8%

£15,042,204

Trade Creditors

£425,208

-7.7%

£460,518

-19.4%

£571,081

17.9%

£484,306

-6.7%

£519,180

Bank Loans & Overdrafts

£519,947

167.5%

£194,397

-38.5%

£315,879

-31.1%

£458,236

-74.5%

£1,799,775

Other Short Term Finance

0

-

0

-100%

£130,000

-79.8%

£643,975

-

0

Miscellaneous Current Liabilities

£1,301,778

71.6%

£758,400

-33.8%

£1,145,602

-21.2%

£1,453,481

-68%

£4,544,286

Total Current Liabilities

£2,246,933

59%

£1,413,315

-34.6%

£2,162,562

-28.9%

£3,039,998

-55.7%

£6,863,241

Bank Loans & Overdrafts and LTL

£519,947

167.5%

£194,397

-38.5%

£315,879

-31.1%

£458,236

-74.5%

£1,799,775

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-

0

-

0

-

0

-

0

 

Capital & Reserves

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Called Up Share Capital

£100,000

-

£100,000

-

£100,000

-

£100,000

-

£100,000

P & L Account Reserve

£11,292,329

0.2%

£11,274,890

9.1%

£10,331,876

7.3%

£9,625,458

-0.2%

£9,643,391

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£11,392,329

0.2%

£11,374,890

9%

£10,431,876

7.3%

£9,725,458

-0.2%

£9,743,391

 

Other Financial Items

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Net Worth

£11,392,329

0.2%

£11,374,890

9%

£10,431,876

7.3%

£9,725,458

-0.2%

£9,743,391

Working Capital

£9,838,693

1.3%

£9,713,662

13.3%

£8,575,409

1.9%

£8,416,415

2.9%

£8,178,963

Total Assets

£13,639,262

6.7%

£12,788,205

1.5%

£12,594,438

-1.3%

£12,765,456

-23.1%

£16,606,632

Total Liabilities

£2,246,933

59%

£1,413,315

-34.6%

£2,162,562

-28.9%

£3,039,998

-55.7%

£6,863,241

Net Assets

£11,392,329

0.2%

£11,374,890

9%

£10,431,876

7.3%

£9,725,458

-0.2%

£9,743,391

 

Cash Flow

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

Net Cashflow from Operations

£1,293,318

48%

£874,000

294.2%

-£450,069

74.8%

-£1,784,311

-197.2%

£1,836,540

 

Net Cashflow before Financing

£962,092

-9.4%

£1,062,270

227.6%

-£832,743

66.5%

-£2,489,226

-237.8%

£1,806,454

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

£962,092

-9.4%

£1,062,270

227.6%

-£832,743

66.5%

-£2,489,226

-237.8%

£1,806,454

 

Miscellaneous

 

Date Of Accounts

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

(%)

31/03/09

 

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£11,392,329

0.2%

£11,374,890

9%

£10,431,876

7.3%

£9,725,458

-0.2%

£9,743,391

Number of Employees

78

1.3%

77

-3.8%

80

2.6%

78

-25%

104

 

Auditors

KLSA LLP

 

Auditor Comments

The audit report contains no adverse comments

 

Bankers

ABBEY NATIONAL PLC

 

Bank Branch Code

09-06-70

 

Ratios

 

Date Of Accounts

31/03/13

31/03/12

31/03/11

31/03/10

31/03/09

Pre-tax profit margin %

0.53

14.05

11.32

13.17

-105.28

Current ratio

5.38

7.87

4.97

3.77

2.19

Sales/Net Working Capital

0.94

0.95

1.05

1.32

0.18

Gearing %

4.60

1.70

3

4.70

18.50

Equity in %

83.50

88.90

82.80

76.20

58.70

Creditor Days

16.82

18.23

23.19

15.81

125.96

Debtor Days

71.12

97.76

105.58

111.96

595.89

Liquidity/Acid Test

4.36

6.32

3.95

3.38

1.95

Return On Capital Employed %

0.42

11.35

9.72

15.09

-16.21

Return On Total Assets Employed %

0.35

10.09

8.05

11.50

-9.51

Current Debt Ratio

0.19

0.12

0.20

0.31

0.70

Total Debt Ratio

0.19

0.12

0.20

0.31

0.70

Stock Turnover Ratio %

24.76

23.74

24.40

10.49

109.74

Return on Net Assets Employed %

0.42

11.35

9.72

15.09

-16.21

 

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

Enquiries Trend

There have been 55 enquiries in the last 12 months.

There are an average of 5 reports taken each month.

 

Status History

No Status History found

Event History

Date

Description

25/01/2014

Annual Returns

09/01/2014

New Accounts Filed

09/01/2014

New Accounts Filed

18/02/2013

Annual Returns

10/01/2013

New Accounts Filed

10/01/2013

New Accounts Filed

21/02/2012

Annual Returns

23/12/2011

New Accounts Filed

23/12/2011

New Accounts Filed

25/01/2011

Annual Returns

05/01/2011

New Accounts Filed

05/01/2011

New Accounts Filed

20/09/2010

Change in Reg.Office

20/09/2010

Change of Company Postcode

19/06/2010

New Accounts Filed

 

Previous Company Names

No Previous Names found

 

 

NOTES & COMMENTS

 

Commentary

No exact match CCJs are recorded against the company.

 

Sales in the latest trading period increased 0.1% on the previous trading period.

 

Net Worth increased by 0.2% during the latest trading period.

 

 

A 6.7% growth in Total Assets occurred during the latest trading period.

 

Pre-tax profits decreased by 96.2% compared to the previous trading period.

 

The company saw an increase in their Cash Balance of 20.5% during the latest trading period.

 

The audit report contains no adverse comments.

 

No recent changes in directorship are recorded.

 

The company is not part of a group.

 

The company was established over 74 years ago.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.87

UK Pound

1

Rs.99.63

Euro

1

Rs.78.22

 

INFORMATION DETAILS

 

Analysis Done by :

SUM

 

 

Report Prepared by :

PDT

 

               

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.