MIRA INFORM REPORT

 

 

Report No. :

330050

Report Date :

06.07.2015

 

IDENTIFICATION DETAILS

 

Name :

SUPREME FASHIONS CLOTHING (BLACKBURN) LIMITED

 

 

Registered Office :

9 Victoria Road, Fulwood, Preston, Pr2 8nd

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.09.2014

 

 

Date of Incorporation :

02.08.1978

 

 

Com. Reg. No.:

01381702

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

Manufacture of Children’s Garments.

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

 

Company summary

 

Registered Address

9 Victoria Road
Fulwood
Preston
Pr2 8nd

Trading Address

9 Victoria Road
Fulwood
Preston
Lancashire
PR2 8ND

Website Address

http://www.roughdiamonds.co.uk

FPS

No

Incorporation Date

02/08/1978

Type

Private limited with Share Capital

Company Number

01381702

Filing Date of Accounts

30/06/2015

Currency

GBP

Share Capital

£100

SIC07

14390

Charity Number

--

SIC07 Description

Manufacture of Other Knitted and Crocheted Apparel

Principal Activity

Manufacture of children’s garments.

 

 

Key Financials

 

Year to Date

 

Turnover

Pre Tax Profit

Shareholder

Funds Employees

30.09.2014

--

--

£192,002

--

30.09.2013

--

--

£175,717

--

30.09.2012

--

--

£160,593

--

 

 

Mortgage summary

 

Total Mortgage              5

Outstanding                  5

Satisfied                       0

 

 

Trade debtors/bad debt summary

 

Total Number of Documented Trade                   0

Total Value of Documented Trade                      £0

 

 

Commentary

 

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 -

-

 

 

Current directors

 

Name

Khalil Ahmed Patel

Date of Birth

20/08/1961

Officers Title

Mr

Nationality

British

Present Appointments

6

Function

Director

Appointment Date

12/12/1991

Address

9 Victoria Road, Fulwood, Preston, Lancashire, PR2 8ND

 

 

Current company secretary

 

Name

Khalil Ahmed Patel

Date of Birth

20/08/1961

Officers Title

Mr

Nationality

British

Present Appointments

6

Function

Company Secretary

Appointment Date

12/12/1991

Address

9 Victoria Road, Fulwood, Preston, Lancashire, PR2 8ND

 

 

Top 20 shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

MR KHALIL AHMED PATEL

GBP

70

ORDINARY

1

70

MRS FARIDA K. PATEL

GBP

25

ORDINARY

1

25

MRS RASHIDA GHULAM PATEL

GBP

5

ORDINARY

1

5

 

 

Profit & loss

 

Date Of Accounts

30/09/14

(%)

30/09/13

(%)

30/09/12

(%)

30/09/11

(%)

30/09/10

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

barchart-grey

Turnover

-

-

-

-

-

-

-

-

-

barchart-grey

Export

-

-

-

-

-

-

-

-

-

barchart-grey

Cost of Sales

-

-

-

-

-

-

-

-

-

barchart-grey

Gross Profit

-

-

-

-

-

-

-

-

-

barchart-grey

Wages & Salaries

-

-

-

-

-

-

-

-

-

barchart-grey

Directors Emoluments

-

-

-

-

-

-

-

-

-

barchart-grey

Operating Profit

-

-

-

-

-

-

-

-

-

barchart-grey

Depreciation

£1,217

3%

£1,181

-27.9%

£1,637

-25.3%

£2,191

-10.6%

£2,450

barchart-grey

Audit Fees

-

-

-

-

-

-

-

-

-

barchart-grey

Interest Payments

-

-

-

-

-

-

-

-

-

barchart-grey

Pre Tax Profit

-

-

-

-

-

-

-

-

-

barchart-grey

Taxation

-

-

-

-

-

-

-

-

-

barchart-grey

Profit After Tax

-

-

-

-

-

-

-

-

-

barchart-grey

Dividends Payable

-

-

-

-

-

-

-

-

-

barchart-grey

Retained Profit

-

-

-

-

-

-

-

-

-

 

 

Balance sheet

 

Date Of Accounts

30/09/14

(%)

30/09/13

(%)

30/09/12

(%)

30/09/11

(%)

30/09/10

barchart-grey

Tangible Assets

£486,604

0%

£486,728

-2.8%

£500,697

999.9%

£33,417

-4%

£34,805

barchart-grey

Intangible Assets

£43,566

-

£43,566

-

£43,566

-

£43,566

-

£43,566

barchart-grey

Total Fixed Assets

£530,170

0%

£530,294

-2.6%

£544,263

607%

£76,983

-1.8%

£78,371

barchart-grey

Stock

£169,958

-34.1%

£258,000

-11%

£290,000

56.8%

£185,000

47.3%

£125,625

barchart-grey

Trade Debtors

£363,473

51.9%

£239,275

17.2%

£204,120

-26%

£275,816

-15.3%

£325,568

barchart-grey

Cash

£3,634

-26.8%

£4,963

162.3%

£1,892

-31.9%

£2,779

23.5%

£2,250

barchart-grey

Other Debtors

0

-

0

-

0

-

0

-

0

barchart-grey

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

barchart-grey

Total Current Assets

£537,065

6.9%

£502,238

1.3%

£496,012

7%

£463,595

2.2%

£453,443

barchart-grey

Trade Creditors

£189,174

16.8%

£161,905

20.4%

£134,460

-22.4%

£173,282

-18%

£211,279

barchart-grey

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

barchart-grey

Other Short Term Finance

0

-

0

-

0

-

0

-

0

barchart-grey

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

0

barchart-grey

Total Current Liabilities

£189,174

16.8%

£161,905

20.4%

£134,460

-22.4%

£173,282

-18%

£211,279

barchart-grey

Bank Loans & Overdrafts and LTL

£686,059

-1.3%

£694,910

-6.8%

£745,222

328.9%

£173,744

44.7%

£120,041

barchart-grey

Other Long Term Finance

£191,228

-5.6%

£202,619

-4%

£211,089

-

0

-

0

barchart-grey

Total Long Term Liabilities

£686,059

-1.3%

£694,910

-6.8%

£745,222

328.9%

£173,744

44.7%

£120,041

 

 

Capital & reserves

 

Date Of Accounts

30/09/14

(%)

30/09/13

(%)

30/09/12

(%)

30/09/11

(%)

30/09/10

barchart-grey

Called Up Share Capital

£100

-

£100

-

£100

-

£100

-

£100

barchart-grey

P & L Account Reserve

£166,902

10.8%

£150,617

11.2%

£135,493

-19.6%

£168,452

-4%

£175,394

barchart-grey

Revaluation Reserve

£25,000

-

£25,000

-

£25,000

-

£25,000

-

£25,000

barchart-grey

Sundry Reserves

-

-

-

-

-

-

-

-

-

barchart-grey

Shareholder Funds

£192,002

9.3%

£175,717

9.4%

£160,593

-17%

£193,552

-3.5%

£200,494

 

 

Other financials items

 

Date Of Accounts

30/09/14

(%)

30/09/13

(%)

30/09/12

(%)

30/09/11

(%)

30/09/10

barchart-grey

Net Worth

£148,436

12.3%

£132,151

12.9%

£117,027

-22%

£149,986

-4.4%

£156,928

barchart-grey

Working Capital

£347,891

2.2%

£340,333

-5.9%

£361,552

24.5%

£290,313

19.9%

£242,164

barchart-grey

Total Assets

£1,067,235

3.4%

£1,032,532

-0.7%

£1,040,275

92.4%

£540,578

1.6%

£531,814

barchart-grey

Total Liabilities

£875,233

2.1%

£856,815

-2.6%

£879,682

153.5%

£347,026

4.7%

£331,320

barchart-grey

Net Assets

£192,002

9.3%

£175,717

9.4%

£160,593

-17%

£193,552

-3.5%

£200,494

 

 

Miscellaneous

 

Date Of Accounts

30/09/14

(%)

30/09/13

(%)

30/09/12

(%)

30/09/11

(%)

30/09/10

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

barchart-grey

Capital Employed

£878,061

0.9%

£870,627

-3.9%

£905,815

146.6%

£367,296

14.6%

£320,535

barchart-grey

Number of Employees

-

-

-

-

-

-

-

-

-

Accountants

TURNER & TURNER

Auditors

Auditor Comments

The company is exempt from audit

Bankers

BARCLAYS BANK PLC

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

30/09/14

30/09/13

30/09/12

30/09/11

30/09/10

barchart-grey

Pre-tax profit margin %

-

-

-

-

-

barchart-grey

Current ratio

2.84

3.10

3.69

2.68

2.15

barchart-grey

Sales/Net Working Capital

-

-

-

-

-

barchart-grey

Gearing %

357.30

395.50

464

89.80

59.90

barchart-grey

Equity in %

18.80

17.80

16.10

38.90

41.10

barchart-grey

Creditor Days

-

-

-

-

-

barchart-grey

Debtor Days

-

-

-

-

-

barchart-grey

Liquidity/Acid Test

1.94

1.50

1.53

1.60

1.55

barchart-grey

Return On Capital Employed %

-

-

-

-

-

barchart-grey

Return On Total Assets Employed %

-

-

-

-

-

barchart-grey

Current Debt Ratio

0.98

0.92

0.83

0.89

1.05

barchart-grey

Total Debt Ratio

4.55

4.87

5.47

1.79

1.65

barchart-grey

Stock Turnover Ratio %

-

-

-

-

-

barchart-grey

Return on Net Assets Employed %

-

-

-

-

-

 

 

Status history

 

Date

Description

 

05/10/2012

Compulsory strike off cancelled

04/10/2012

Dissolution (First Gazt)

 

 

*Event History

 

Date

Description

03/07/2015

New Accounts Filed

25/01/2015

Annual Returns

02/07/2014

New Accounts Filed

02/07/2014

New Accounts Filed

04/02/2014

Annual Returns

03/07/2013

New Accounts Filed

26/01/2013

Annual Returns

03/12/2012

Mrs F. Patel has left the board

03/10/2012

New Accounts Filed

23/01/2012

Annual Returns

28/09/2011

New Accounts Filed

28/09/2011

New Accounts Filed

07/02/2011

Annual Returns

04/02/2011

Change in Reg. Office

04/02/2011

Change of Company Postcode

 

 

Previous company names

 

No previous names found

 

 

Writ details

 

No writs found

 

Mortgage details

 

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

03/08/12

Date Charge Registered:

22/08/12

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:

F/H PROPERTY LAND AND BUILDING ON THE SOUTH SIDE OF ST GEORGES ROAD PRESTON ALSO K/A SOUTHGATE WORKSSOUTHGATE PRESTON LANCASHIRE T/NO LA551864

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

26/03/12

Date Charge Registered:

31/03/12

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

MAYFAIR BRIDGING 2 LIMITED

Amount Secured:

£200,000 AND ALL OTHER MONIES DUE OR TOBECOME DUE

Details:

F/H PROPERTY K/A LAND AND BUILDINGS ON THE SOUTH SIDE OF ST GEORGE'S ROAD PRESTON T/NO. LA551864

 

Mortgage Type:

DEBENTURE

Date Charge Created:

10/12/10

Date Charge Registered:

16/12/10

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:

FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

07/02/05

Date Charge Registered:

09/02/05

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

Details:

UNITS 1, 2, AND 3 BROOMFIELD MILL BROOMFIELD MILL STREET PRESTON

 

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

24/05/88

Date Charge Registered:

02/06/88

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:

UNITS 1, 2 & 3 BROOMFIELD MILL, BROOMFIELD MILL STREET, PRESTON, LANCASHIRE. T.NO. LA 402606

 

 

Previous director / company secretaries

 

Name

Current Directorships

Previous Directorships

Rashida Ghulam Patel

0

1

Farida Patel

0

1

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.40

UK Pound

1

Rs.98.94

Euro

1

Rs.70.33

 

 

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.