MIRA INFORM REPORT

 

 

Report No. :

302883

Report Date :

27.01.2015

 

IDENTIFICATION DETAILS

 

Name :

CAROLINA BUCCI (UK) LTD

 

 

Registered Office :

1st Floor 236 Gray's INN Road London WC1X 8HB

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

27.11.2006

 

 

Com. Reg. No.:

06009668

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

-          Retail Sale In Non-Specialised Stores.

-          Specialist Jewelry.

 

 

No. of Employee :

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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

 

Company Name

 

CAROLINA BUCCI (UK) LTD

 

 

Company Number

 

06009668

 

 

Company summary

 

Registered Address                  1ST FLOOR 236 GRAY'S INN ROAD LONDON WC1X 8HB

Trading Address                      1st Floor 236 Gray's Inn Road London WC1X 8HB

Website Address                      http://www.carolinabucci.com

Telephone Number                   02078389977

Fax Number

TPS No

FPS No

Incorporation Date                   27/11/2006

Previous Name

Type                                         Private limited with Share Capital

FTSE Index                              -

Date of Change                         -

Filing Date of Accounts            30/09/2014

Currency                                  GBP

Share Capital                           £100

SIC07                                       47190

Charity Number                        -

SIC07 Description                    OTHER RETAIL SALE IN NON-SPECIALISED STORES

Principal Activity                      Specialist jewelry.

 

 

Key Financials

 

Year to Date     Turnover          Pre Tax Profit               Shareholder                 Funds Employees

31/12/2013        -                       -                                   £37,902             -

31/12/2012        £813,138           £155,520                       £65,579             -

31/12/2011        £718,762           £101,837                       £17,896             -

 

 

Mortgage Summary

 

Total Mortgage             1

Outstanding                 0

Satisfied                       1

 

 

Trade Debtors / Bad Debt Summary

 

Total Number of Documented Trade                 0

Total Value of Documented Trade                    £0

 

 

Commentary

 

No exact match CCJs are recorded against the company.

The previous trading period saw no significant change in the percentage of sales.

There has been no discernible change in the company's pre-tax profit.

Net Worth decreased by 42.2% during the latest trading period.

A 34% decline in Total Assets occurred during the latest trading period.

The company saw a decrease in their Cash Balance of 57.5% 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 8 years ago.

 

 

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

1

Total Current Secretaries

0

Total Previous Directors / Company Secretaries

4

 

Current Directors

 

Name

Carolina Bucci

Date of Birth

30/10/1976

Officers Title

Ms

Nationality

Italian

Present Appointments

2

Function

Director

Appointment Date

27/11/2006

Address

1st Floor 236 Gray's Inn Road, London, WC1X 8HB

 

 

Current Company Secretary

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

CAROLINA BUCCI

GBP

51

ORDINARY

1

51

JAMES PYNER

GBP

49

ORDINARY

1

49

 

 

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

barchart-grey

Turnover

-

-

£813,138

13.1%

£718,762

-8.5%

£785,630

-9.5%

£868,300

barchart-grey

Export

-

-

£162,628

25.7%

£129,377

-8.5%

£141,413

30.3%

£108,538

barchart-grey

Cost of Sales

-

-100%

£349,152

15.4%

£302,626

-10.3%

£337,326

-10.6%

£377,311

barchart-grey

Gross Profit

-

-

£463,986

11.5%

£416,136

-7.2%

£448,304

-8.7%

£490,989

barchart-grey

Wages & Salaries

-

-

-

-

-

-

-

-

-

barchart-grey

Directors Emoluments

-

-

£25,000

-

£25,000

-

£25,000

-

£25,000

barchart-grey

Operating Profit

-

-

£154,286

53.9%

£100,219

-41.8%

£172,112

-31.1%

£249,740

barchart-grey

Depreciation

£13,685

29.5%

£10,568

10.3%

£9,577

-15.9%

£11,394

3.5%

£11,005

barchart-grey

Audit Fees

-

-

-

-

-

-

-

-

-

barchart-grey

Interest Payments

-

-

-

-

-

-

-

-

-

barchart-grey

Pre Tax Profit

-

-

£155,520

52.7%

£101,837

-41%

£172,500

-31.3%

£251,038

barchart-grey

Taxation

-

-

-£32,837

-59.7%

-£20,568

49.9%

-£41,056

23.8%

-£53,889

barchart-grey

Profit After Tax

-

-

£122,683

51%

£81,269

-38.2%

£131,444

-33.3%

£197,149

barchart-grey

Dividends Payable

-

-

£75,000

-25%

£100,000

-33.3%

£150,000

-

£150,000

barchart-grey

Retained Profit

-

-

£47,683

354.6%

-£18,731

-0.9%

-£18,556

-139.4%

£47,149

 

 

Balance Sheet

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

barchart-grey

Tangible Assets

£52,224

43.8%

£36,312

-15.2%

£42,838

-29.1%

£60,445

-14%

£70,256

barchart-grey

Intangible Assets

0

-

0

-

0

-

0

-

0

barchart-grey

Total Fixed Assets

£52,224

43.8%

£36,312

-15.2%

£42,838

-29.1%

£60,445

-14%

£70,256

barchart-grey

Stock

0

-

0

-

0

-

0

-

0

barchart-grey

Trade Debtors

£68,355

101.7%

£33,888

573.7%

£5,030

-89.7%

£48,744

556%

£7,431

barchart-grey

Cash

£105,207

-57.5%

£247,481

-1.6%

£251,522

12.5%

£223,481

-37.8%

£359,087

barchart-grey

Other Debtors

0

-100%

£24,367

35.5%

£17,980

23%

£14,620

1.1%

£14,467

barchart-grey

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

barchart-grey

Total Current Assets

£173,562

-43.2%

£305,736

11.4%

£274,532

-4.3%

£286,845

-24.7%

£380,985

barchart-grey

Trade Creditors

£187,884

67.1%

£112,450

-10.2%

£125,265

82.2%

£68,761

86.2%

£36,926

barchart-grey

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

barchart-grey

Other Short Term Finance

0

-

0

-

0

-100%

£127,648

-32.5%

£189,165

barchart-grey

Miscellaneous Current Liabilities

0

-100%

£164,019

-5.8%

£174,209

52.5%

£114,254

-32.8%

£169,967

barchart-grey

Total Current Liabilities

£187,884

-32%

£276,469

-7.7%

£299,474

-3.6%

£310,663

-21.6%

£396,058

barchart-grey

Bank Loans & Overdrafts and LTL

0

-

0

-

0

-

0

-

0

barchart-grey

Other Long Term Finance

0

-

0

-

0

-

0

-

0

barchart-grey

Total Long Term Liabilities

0

-

0

-

0

-

0

-

0

 

 

Capital & Reserves

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

barchart-grey

Called Up Share Capital

£100

-

£100

-

£100

-

£100

-

£100

barchart-grey

P & L Account Reserve

£37,802

-42.3%

£65,479

267.9%

£17,796

-51.3%

£36,527

-33.7%

£55,083

barchart-grey

Revaluation Reserve

-

-

-

-

-

-

-

-

-

barchart-grey

Sundry Reserves

-

-

-

-

-

-

-

-

-

barchart-grey

Shareholder Funds

£37,902

-42.2%

£65,579

266.4%

£17,896

-51.1%

£36,627

-33.6%

£55,183

 

 

Other Financial Items

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

barchart-grey

Net Worth

£37,902

-42.2%

£65,579

266.4%

£17,896

-51.1%

£36,627

-33.6%

£55,183

barchart-grey

Working Capital

-£14,322

-148.9%

£29,267

217.3%

-£24,942

-4.7%

-£23,818

-58%

-£15,073

barchart-grey

Total Assets

£225,786

-34%

£342,048

7.8%

£317,370

-8.6%

£347,290

-23%

£451,241

barchart-grey

Total Liabilities

£187,884

-32%

£276,469

-7.7%

£299,474

-3.6%

£310,663

-21.6%

£396,058

barchart-grey

Net Assets

£37,902

-42.2%

£65,579

266.4%

£17,896

-51.1%

£36,627

-33.6%

£55,183

 

 

Cash Flow

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

barchart-grey

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

barchart-grey

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

barchart-grey

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

barchart-grey

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

barchart-grey

Capital Employed

£37,902

-42.2%

£65,579

266.4%

£17,896

-51.1%

£36,627

-33.6%

£55,183

barchart-grey

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

Auditor Comments

The company is exempt from audit

Bankers

BARCLAYS BANK PLC

Bank Branch Code

20-35-90

 

 

Ratios

 

Date Of Accounts

31/12/13

31/12/12

31/12/11

31/12/10

31/12/09

barchart-grey

Pre-tax profit margin %

-

19.13

14.17

21.96

28.91

barchart-grey

Current ratio

0.92

1.11

0.92

0.92

0.96

barchart-grey

Sales/Net Working Capital

-

27.78

-28.82

-32.98

-57.61

barchart-grey

Gearing %

0

0

0

0

0

barchart-grey

Equity in %

16.80

19.20

5.60

10.50

12.20

barchart-grey

Creditor Days

-

50.33

63.43

31.85

15.47

barchart-grey

Debtor Days

-

15.16

2.54

22.58

3.11

barchart-grey

Liquidity/Acid Test

0.92

1.10

0.91

0.92

0.96

barchart-grey

Return On Capital Employed %

-

237.14

569.04

470.96

454.91

barchart-grey

Return On Total Assets Employed %

-

45.46

32.08

49.67

55.63

barchart-grey

Current Debt Ratio

4.95

4.21

16.73

8.48

7.17

barchart-grey

Total Debt Ratio

4.95

4.21

16.73

8.48

7.17

barchart-grey

Stock Turnover Ratio %

-

-

-

-

-

barchart-grey

Return on Net Assets Employed %

-

237.14

569.04

470.96

454.91

 

 

Report Notes

 

There are no notes to display.

 

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

16/12/2014

Annual Returns

04/10/2014

New Accounts Filed

14/12/2013

Annual Returns

01/10/2013

New Accounts Filed

12/12/2012

Annual Returns

25/07/2012

New Accounts Filed

25/07/2012

New Accounts Filed

02/12/2011

Annual Returns

26/08/2011

New Accounts Filed

26/08/2011

New Accounts Filed

18/12/2010

Annual Returns

16/12/2010

BLOOMSBURY REGISTRARS LIMITED has resigned as company secretary

26/10/2010

Mr P. Britton has left the board

13/08/2010

Change in Reg.Office

13/08/2010

Change of Company Postcode

 

 

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

 

No group structure

 

 

Mortgage Details

 

Mortgage Type:

DEED

 

Date Charge Created:

07/03/07

Date Charge Registered:

13/03/07

Date Charge Satisfied:

09/05/12

Status:

SATISFIED

Person(s) Entitled:

THE ROYAL BANK OF SCOTLAND TRUST COMPANY (JERSEY) LIMITED AND RBSI TRUST COMPANY LIMITED

 

Amount Secured:

 

Details:

THE SUM OF £22,618 AND ANY OTHER SUMS PAID INTO THAT ACCOUNTSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

 

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

Paul Britton

0

1

LONDON LAW SERVICES LIMITED

398

18848

LONDON LAW SECRETARIAL LIMITED

608

18727

BLOOMSBURY REGISTRARS LIMITED

104

94

Average Invoice Value

£30.88

Invoices available

3

Paid

3

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

1

2

0

0

0

Outstanding

0

0

0

0

0

 

 

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 8th Century B.C.  India, in fact, remained undisputed leader till 18th 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 30th 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.61.50

UK Pound

1

Rs.92.16

Euro

1

Rs.69.62

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ANK

 

 

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.