MIRA INFORM REPORT
|
Report No. : |
319509 |
|
Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
LICHFIELD LEATHER
LIMITED |
|
|
|
|
Registered Office : |
The tithe barn,
deans lade farm claypit lane lichfield ws14 0ag |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
02.04.1980 |
|
|
|
|
Com. Reg. No.: |
01489148 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Subject is manufacture of luggage, handbags and the like, saddlery and harness |
|
|
|
|
No. of Employee : |
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 : |
No complaints |
|
|
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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. 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. In 2008, 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. Facing burgeoning public deficits and debt levels, in 2010 the
CAMERON-led coalition government (between Conservatives and Liberal Democrats)
initiated an austerity program, which aimed to lower London's budget deficit
from about 11% of GDP in 2010 to nearly 1% by 2015. 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 20% by 2015. However, the deficit still remains one
of the highest in the G7, standing at 5.8% in 2013. The Bank of England (BoE)
implemented an asset purchase program of �375 billion (approximately $586 billion) as
of December 2014. 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
1.8%, accelerating unexpectedly because of greater consumer spending and a
recovering housing market.
|
Source
: CIA |
sCompany Name
LICHFIELD LEATHER LIMITED
Company
No
01489148
Company
Status
Active - Accounts
Filed
Registered
Address
THE TITHE BARN,
DEANS LADE FARM CLAYPIT LANE LICHFIELD WS14 0AG
Company Summary
Registered Address
THE TITHE BARN, DEANS LADE FARM
CLAYPIT LANE
LICHFIELD
WS14 0AG
Trading Address
The Tithe Barn
Deanslade Farm
Claypit Lane
Lichfield, Staffordshire
WS14 0AG
Website Address
http://www.lichfieldleather.com
Telephone Number 01543268501
Fax Number -
TPS No
FPS No
Incorporation Date 02/04/1980
Previous Name -
Type Private limited with Share Capital
FTSE Index -
Date of Change -
Filing Date of Accounts 20/08/2014
Currency GBP
Share Capital £100
SIC07 15120
Charity Number -
SIC07 Description
MANUFACTURE OF LUGGAGE, HANDBAGS AND THE LIKE, SADDLERY AND HARNESS
Principal Activity
Manufacture of luggage and the like, saddlery and wholesaler.
Key
Financials
Year to Date Turnover Pre Tax Profit Shareholder Funds Employees
31/03/2014 - - £3,505,871 -
31/03/2013 - - £3,536,600 -
31/03/2012 - - £3,588,614 -
Mortgage
Summary
Total Mortgage 1
Outstanding 0
Satisfied 1
Trade
Debtors / Bad Debt Summary
Total Number of Documented Trade 8
Total Value of Documented Trade £8,932
Last 3 Years Credit Rating/Limit
|
Date |
Rating |
Limit |
|
31/12/2014 |
94 |
£150,000 |
|
31/12/2013 |
93 |
£130,000 |
|
31/12/2012 |
85 |
- |
Commentary
|
This company has been treated as a Small company in respect of the
rating/limit generated. |
|
|
The latest Balance Sheet indicates a very positive net working capital
position. |
|
|
The latest cash balances represent a positive level in terms of the
overall outstanding creditor obligations. |
|
|
This company trades in an industry with a moderate level of corporate
failures. |
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 - |
- |
|
Total Current Directors |
5 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
0 |
Current
Directors
|
Name |
Rhona Dawn Heathcote |
Date of Birth |
19/11/1950 |
|
Officers Title |
Ms |
Nationality |
British |
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
31/12/1990 |
||
|
Address |
The Lont 4 Crawley Lane, Kings Bromley, Burton On Trent, Staffordshire, DE13 7JF |
||
|
Name |
Bernard Joseph Heathcote |
Date of Birth |
20/02/1948 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
31/12/1990 |
||
|
Address |
The Lont 4 Crawley Lane, Kings Bromley, Burton On Trent, Staffordshire, DE13 7JF |
||
|
Name |
Guy Heathcote |
Date of Birth |
01/09/1971 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
4 |
Function |
Director |
|
Appointment Date |
07/05/2013 |
||
|
Address |
The Tithe Barn, Deans Lade Farm, Claypit Lane, Lichfield, Staffordshire, WS14 0AG |
||
|
Name |
Giles Heathcote |
Date of Birth |
25/04/1968 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
3 |
Function |
Director |
|
Appointment Date |
07/05/2013 |
||
|
Address |
The Tithe Barn, Deans Lade Farm, Claypit Lane, Lichfield, Staffordshire, WS14 0AG |
||
|
Name |
James Heathcote |
Date of Birth |
28/05/1983 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
3 |
Function |
Director |
|
Appointment Date |
07/05/2013 |
||
|
Address |
The Tithe Barn, Deans Lade Farm, Claypit Lane, Lichfield, Staffordshire, WS14 0AG |
||
Current Company Secretary
|
Name |
Rhona Dawn Heathcote |
Date of Birth |
19/11/1950 |
|
Officers Title |
Ms |
Nationality |
British |
|
Present Appointments |
2 |
Function |
Company Secretary |
|
Appointment Date |
31/12/1990 |
||
|
Address |
The Lont 4 Crawley Lane, Kings Bromley, Burton On Trent, Staffordshire, DE13 7JF |
||
Top
20 Shareholders
|
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
|
BERNARD JOSEPH HEATHCOTE |
GBP |
50 |
ORDINARY |
1 |
50 |
|
GILES MCKENZIE HEATHCOTE |
GBP |
13 |
ORDINARY |
1 |
13 |
|
BEN NICHOLAS HEATHCOTE |
GBP |
12 |
ORDINARY |
1 |
12 |
|
JAMES RYAN ANTHONY HEATHCOTE |
GBP |
12 |
ORDINARY |
1 |
12 |
|
GUY JAMES HEATHCOTE |
GBP |
12 |
ORDINARY |
1 |
12 |
|
RHONA DAWN HEATHCOTE |
GBP |
1 |
ORDINARY |
1 |
1 |
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 |
£17,582 |
16% |
£15,154 |
-8.9% |
£16,631 |
6.3% |
£15,647 |
15.5% |
£13,544 |
|
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 |
£1,788,043 |
140.4% |
£743,925 |
-58.1% |
£1,774,170 |
7.1% |
£1,656,840 |
5.7% |
£1,567,982 |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Fixed Assets |
£1,788,043 |
140.4% |
£743,925 |
-58.1% |
£1,774,170 |
7.1% |
£1,656,840 |
5.7% |
£1,567,982 |
|
Stock |
£1,053,882 |
49.5% |
£704,829 |
31% |
£538,215 |
46.7% |
£366,924 |
-5.8% |
£389,673 |
|
Trade Debtors |
£611,874 |
-60.7% |
£1,557,749 |
153.9% |
£613,519 |
8.2% |
£566,876 |
45.3% |
£390,139 |
|
Cash |
£355,702 |
-39.2% |
£585,053 |
-34.6% |
£893,938 |
-21.6% |
£1,140,489 |
-4.7% |
£1,197,062 |
|
Other Debtors |
0 |
-100% |
£219,765 |
999.9% |
£14,505 |
- |
0 |
- |
0 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
£2,021,458 |
-34.1% |
£3,067,396 |
48.9% |
£2,060,177 |
-0.7% |
£2,074,289 |
4.9% |
£1,976,874 |
|
Trade Creditors |
£294,564 |
11.6% |
£263,847 |
10% |
£239,941 |
-2.5% |
£246,179 |
-7.9% |
£267,434 |
|
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 |
£294,564 |
11.6% |
£263,847 |
10% |
£239,941 |
-2.5% |
£246,179 |
-7.9% |
£267,434 |
|
Bank Loans & Overdrafts and LTL |
£9,066 |
-16.6% |
£10,874 |
87.7% |
£5,792 |
-28.2% |
£8,067 |
-13.1% |
£9,282 |
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Long Term Liabilities |
£9,066 |
-16.6% |
£10,874 |
87.7% |
£5,792 |
-28.2% |
£8,067 |
-13.1% |
£9,282 |
.
Capital
& Reserves
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Called Up Share Capital |
£100 |
- |
£100 |
- |
£100 |
- |
£100 |
- |
£100 |
|
P & L Account Reserve |
£3,471,131 |
-0.9% |
£3,501,860 |
-1.5% |
£3,553,874 |
3.2% |
£3,442,143 |
6.5% |
£3,233,400 |
|
Revaluation Reserve |
£34,640 |
- |
£34,640 |
- |
£34,640 |
- |
£34,640 |
- |
£34,640 |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£3,505,871 |
-0.9% |
£3,536,600 |
-1.4% |
£3,588,614 |
3.2% |
£3,476,883 |
6.4% |
£3,268,140 |
Other
Financial Items
|
Date Of Accounts |
31/03/14 |
(%) |
31/03/13 |
(%) |
31/03/12 |
(%) |
31/03/11 |
(%) |
31/03/10 |
|
Net Worth |
£3,505,871 |
-0.9% |
£3,536,600 |
-1.4% |
£3,588,614 |
3.2% |
£3,476,883 |
6.4% |
£3,268,140 |
|
Working Capital |
£1,726,894 |
-38.4% |
£2,803,549 |
54% |
£1,820,236 |
-0.4% |
£1,828,110 |
6.9% |
£1,709,440 |
|
Total Assets |
£3,809,501 |
0% |
£3,811,321 |
-0.6% |
£3,834,347 |
2.8% |
£3,731,129 |
5.3% |
£3,544,856 |
|
Total Liabilities |
£303,630 |
10.5% |
£274,721 |
11.8% |
£245,733 |
-3.3% |
£254,246 |
-8.1% |
£276,716 |
|
Net Assets |
£3,505,871 |
-0.9% |
£3,536,600 |
-1.4% |
£3,588,614 |
3.2% |
£3,476,883 |
6.4% |
£3,268,140 |
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 |
£3,514,937 |
-0.9% |
£3,547,474 |
-1.3% |
£3,594,406 |
3.1% |
£3,484,950 |
6.3% |
£3,277,422 |
|
Number of Employees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Auditors |
|||||||||
|
Auditor Comments |
The company is exempt from audit |
||||||||
|
Bankers |
NATIONAL WESTMINSTER BANK PLC |
||||||||
|
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 |
6.86 |
11.63 |
8.59 |
8.43 |
7.39 |
|
Sales/Net Working Capital |
- |
- |
- |
- |
- |
|
Gearing % |
0.30 |
0.30 |
0.20 |
0.20 |
0.30 |
|
Equity in % |
92 |
92.80 |
93.60 |
93.20 |
92.20 |
|
Creditor Days |
- |
- |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid Test |
3.28 |
8.95 |
6.34 |
6.93 |
5.93 |
|
Return On Capital Employed % |
- |
- |
- |
- |
- |
|
Return On Total Assets Employed % |
- |
- |
- |
- |
- |
|
Current Debt Ratio |
0.08 |
0.07 |
0.06 |
0.07 |
0.08 |
|
Total Debt Ratio |
0.08 |
0.07 |
0.06 |
0.07 |
0.08 |
|
Stock Turnover Ratio % |
- |
- |
- |
- |
- |
|
Return on Net Assets Employed % |
- |
- |
- |
- |
- |
Event
History
|
Date |
Description |
|
27/12/2014 |
Annual Returns |
|
23/08/2014 |
New Accounts Filed |
|
07/01/2014 |
Annual Returns |
|
20/12/2013 |
New Accounts Filed |
|
20/12/2013 |
New Accounts Filed |
|
11/06/2013 |
New Board Member Mr J. Heathcote appointed |
|
11/06/2013 |
New Board Member Mr G. Heathcote appointed |
|
07/01/2013 |
Annual Returns |
|
01/09/2012 |
New Accounts Filed |
|
28/12/2011 |
Annual Returns |
|
18/10/2011 |
New Accounts Filed |
|
18/10/2011 |
New Accounts Filed |
|
25/12/2010 |
Annual Returns |
|
27/09/2010 |
New Accounts Filed |
|
21/12/2009 |
Annual Returns |
Previous
Company Names
|
No Previous Names found |
Writ
Details
|
No writs found |
Statistics
|
Group |
- |
|
Linkages |
0 companies |
|
Countries |
In 0 countries |
Summary
|
Holding Company |
- |
|
Ownership Status |
|
|
Ultimate Holding Company |
- |
Group
Structure Full
|
No Group Structure |
|
Group |
0 companies |
|
Linkages |
0 companies |
|
Countries |
In 0 countries |
Mortgage
Details
|
Mortgage Type: |
MORTGAGE DEBENTURE |
||
|
Date Charge Created: |
15/01/97 |
||
|
Date Charge Registered: |
22/01/97 |
||
|
Date Charge Satisfied: |
20/04/09 |
||
|
Status: |
SATISFIED |
||
|
Person(s) Entitled: |
NATIONAL WESTMINSTER BANK PLC |
||
|
Amount Secured: |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Details: |
A SPECIFIC EQUITABLE CHARGE OVER ALL FREEHOLD AND LEASEHOLD PROPERTIES AND/OR THE PROCEEDS OF SALE THEREOF FIXED AND FLOATING CHARGES OVER UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS AND THE BENEFITS OF ANY LICENCES |
||
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 |
8 |
£8,932 |
|
Company Name |
Amount |
Statement Date |
|
Adrian Gold Limited |
£3,934 |
09/03/2010 |
|
Freeland Travel Goods Limited |
£1,475 |
21/05/2013 |
|
Hardings Limited |
£944 |
27/01/2011 |
|
D R Swann (St Albans) Limited |
£792 |
02/02/2012 |
|
Label Cannock Ltd |
£717 |
25/02/2010 |
|
Pussy Home Boutique Limited |
£648 |
01/04/2010 |
|
Plain Leather Limited |
£222 |
30/08/2012 |
|
Shopeezee Ltd |
£200 |
13/05/2013 |
|
Average Invoice Value |
£113.60 |
|
Invoices available |
5 |
|
Paid |
5 |
|
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 |
5 |
0 |
0 |
0 |
0 |
|
Outstanding |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.33 |
|
UK Pound |
1 |
Rs.96.52 |
|
Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.