MIRA INFORM REPORT
|
Report No. : |
313855 |
|
Report Date : |
30.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
THE CHELSEA HOUSEWARE COMPANY LIMITED |
|
|
|
|
Registered Office : |
321 Fulham
Roadchelsealondonsw 10 9QL |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
22.02.2000 |
|
|
|
|
Com. Reg. No.: |
03931001 |
|
|
|
|
Legal Form : |
Private Limited with Share Capital |
|
|
|
|
Line of Business : |
Retail sale of
electrical household appliances in specialised stores |
|
|
|
|
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. 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
THE CHELSEA HOUSEWARE COMPANY LIMITED
Company Summary
|
Registered
Address |
321
FULHAM ROAD |
Trading
Address |
321 Fulham Road Chelsea London SW10 9Q |
|
Website
Address |
|
|
|
|
Telephone
Number |
-- |
Fax Number |
-- |
|
TPS |
-- |
FPS |
No |
|
Incorporation
Date |
22/02/2000 |
|
|
|
Previous
Name |
-- |
Type |
Private limited with Share Capital |
|
FTSE Index |
-- |
Date of
Change |
-- |
|
Filing Date
of Accounts |
26/11/2014 |
Currency |
GBP |
|
Share
Capital |
£210 |
SIC07 |
47540 |
|
Charity
Number |
-- |
|
|
|
SIC07
Description |
Retail Sale
Of Electrical Household Appliances In Specialised Stores |
||
|
Principal
Activity |
Retail
specialised stores. Trading as 'Farmer Brothers and J D Beardmore'. |
||
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder |
Funds Employees |
|
31/12/2013 |
-- |
-- |
£623,701 |
-- |
|
31/12/2012 |
-- |
-- |
£438,298 |
-- |
|
31/12/2011 |
-- |
-- |
£294,043 |
-- |
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. |
|
There has been an increase in shareholders
funds compared with the previous balance sheet. |
|
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 |
2 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
2 |
Current Directors
|
Name |
Manish Vara |
Date of Birth |
08/03/1974 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
7 |
Function |
Director |
|
Appointment Date |
22/02/2000 |
||
|
Address |
Farmers 319 Fulham
Road, London, SW10 9QL |
||
|
Name |
Kettan Vara |
Date of Birth |
24/12/1972 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
8 |
Function |
Director |
|
Appointment Date |
22/02/2000 |
||
|
Address |
Farmers 319 Fulham
Road, London, SW10 9QL |
||
Current Company Secretary
|
Name |
Pradeep Jivan
Vara |
Date of Birth |
25/12/1959 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
5 |
Function |
Company Secretary |
|
Appointment Date |
22/02/2000 |
||
|
Address |
321 Fulham Road,
Chelsea, London, SW10 9QL |
||
Top 20 Shareholders
|
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share
Count |
|
|
MR JIVAN TRIKAM
VARA |
GBP |
98 |
ORDINARY A |
1 |
46.67 |
|
MR KETTAN JIVAN
VARA |
GBP |
50 |
ORDINARY B |
1 |
23.81 |
|
MR MANISH JIVAN
VARA |
GBP |
50 |
ORDINARY B |
1 |
23.81 |
|
ASIT PUROHIT |
GBP |
10 |
ORDINARY C |
1 |
4.76 |
|
MR KETTAN JIVAN
VARA |
GBP |
1 |
ORDINARY A |
1 |
0.48 |
|
MR MANISH JIVAN
VARA |
GBP |
1 |
ORDINARY A |
1 |
0.48 |
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 |
|
Turnover |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost of Sales |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Gross Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Wages &
Salaries |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Directors
Emoluments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Depreciation |
£17,943 |
74.4% |
£10,290 |
-18.3% |
£12,602 |
-11.2% |
£14,196 |
29.1% |
£10,994 |
|
Audit Fees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Interest Payments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Pre Tax Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Taxation |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Profit After Tax |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Dividends Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Retained Profit |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Balance Sheet
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Tangible Assets |
£98,506 |
76.8% |
£55,703 |
-10.7% |
£62,382 |
-10.4% |
£69,650 |
42.2% |
£48,967 |
|
Intangible Assets |
£1 |
-100% |
£2,210 |
-50% |
£4,420 |
-33.3% |
£6,630 |
-25% |
£8,840 |
|
Total Fixed
Assets |
£98,507 |
70.1% |
£57,913 |
-13.3% |
£66,802 |
-12.4% |
£76,280 |
32% |
£57,807 |
|
Stock |
£91,764 |
-3.3% |
£94,929 |
5.5% |
£89,941 |
30.4% |
£68,956 |
-6.1% |
£73,453 |
|
Trade Debtors |
£493,937 |
107.6% |
£237,886 |
245.5% |
£68,859 |
-70.1% |
£230,232 |
195.2% |
£77,991 |
|
Cash |
£212,602 |
-34.5% |
£324,516 |
-24.7% |
£430,765 |
144.3% |
£176,359 |
-51.2% |
£361,241 |
|
Other Debtors |
0 |
-100% |
£102,303 |
-9.7% |
£113,250 |
-23.1% |
£147,325 |
218.8% |
£46,208 |
|
Miscellaneous
Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current
Assets |
£798,303 |
5.1% |
£759,634 |
8.1% |
£702,815 |
12.8% |
£622,872 |
11.4% |
£558,893 |
|
Trade Creditors |
£253,257 |
-31.2% |
£368,344 |
-20.6% |
£464,106 |
6.6% |
£435,218 |
3.8% |
£419,383 |
|
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 |
£253,257 |
-31.2% |
£368,344 |
-20.6% |
£464,106 |
6.6% |
£435,218 |
3.8% |
£419,383 |
|
Bank Loans &
Overdrafts and LTL |
£19,852 |
82% |
£10,905 |
-4.9% |
£11,468 |
-11.4% |
£12,947 |
200.6% |
£4,307 |
|
Other Long Term
Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Long Term Liabilities |
£19,852 |
82% |
£10,905 |
-4.9% |
£11,468 |
-11.4% |
£12,947 |
200.6% |
£4,307 |
.
Capital & Reserves
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Called Up Share
Capital |
£210 |
- |
£210 |
- |
£210 |
5% |
£200 |
- |
£200 |
|
P & L Account
Reserve |
£623,491 |
42.3% |
£438,088 |
49.1% |
£293,833 |
17.2% |
£250,787 |
30.1% |
£192,810 |
|
Revaluation
Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£623,701 |
42.3% |
£438,298 |
49.1% |
£294,043 |
17.2% |
£250,987 |
30% |
£193,010 |
Other Financial Items
|
Date Of Accounts |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
|
Net Worth |
£623,700 |
43% |
£436,088 |
50.6% |
£289,623 |
18.5% |
£244,357 |
32.7% |
£184,170 |
|
Working Capital |
£545,046 |
39.3% |
£391,290 |
63.9% |
£238,709 |
27.2% |
£187,654 |
34.5% |
£139,510 |
|
Total Assets |
£896,810 |
9.7% |
£817,547 |
6.2% |
£769,617 |
10.1% |
£699,152 |
13.4% |
£616,700 |
|
Total Liabilities |
£273,109 |
-28% |
£379,249 |
-20.3% |
£475,574 |
6.1% |
£448,165 |
5.8% |
£423,690 |
|
Net Assets |
£623,701 |
42.3% |
£438,298 |
49.1% |
£294,043 |
17.2% |
£250,987 |
30% |
£193,010 |
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 |
|
Capital Employed |
£643,553 |
43.3% |
£449,203 |
47% |
£305,511 |
15.8% |
£263,934 |
33.8% |
£197,317 |
|
Number of
Employees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Auditors |
|||||||||
|
Auditor Comments |
The company is
exempt from audit |
||||||||
|
Bankers |
|||||||||
|
Bank Branch Code |
|||||||||
Ratios
|
Date Of Accounts |
31/12/13 |
31/12/12 |
31/12/11 |
31/12/10 |
31/12/09 |
|
Pre-tax profit
margin % |
- |
- |
- |
- |
- |
|
Current ratio |
3.15 |
2.06 |
1.51 |
1.43 |
1.33 |
|
Sales/Net Working
Capital |
- |
- |
- |
- |
- |
|
Gearing % |
3.20 |
2.50 |
3.90 |
5.20 |
2.20 |
|
Equity in % |
69.50 |
53.80 |
38.40 |
36.20 |
31.80 |
|
Creditor Days |
- |
- |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid
Test |
2.78 |
1.80 |
1.32 |
1.27 |
1.15 |
|
Return On Capital
Employed % |
- |
- |
- |
- |
- |
|
Return On Total Assets
Employed % |
- |
- |
- |
- |
- |
|
Current Debt
Ratio |
0.40 |
0.84 |
1.57 |
1.73 |
2.17 |
|
Total Debt Ratio |
0.43 |
0.86 |
1.61 |
1.78 |
2.19 |
|
Stock Turnover
Ratio % |
- |
- |
- |
- |
- |
|
Return on Net
Assets Employed % |
- |
- |
- |
- |
- |
Report Notes
There are no notes to display.
Status History
No Status History
found
Event History
|
Date |
Description |
|
24/02/2015 |
Annual Returns |
|
04/12/2014 |
New Accounts
Filed |
|
30/09/2014 |
Change in
Reg.Office |
|
30/09/2014 |
Change of Company
Postcode |
|
12/03/2014 |
Annual Returns |
|
11/10/2013 |
New Accounts
Filed |
|
11/10/2013 |
New Accounts
Filed |
|
09/04/2013 |
Annual Returns |
|
11/10/2012 |
New Accounts
Filed |
|
30/04/2012 |
Annual Returns |
|
05/10/2011 |
New Accounts Filed |
|
05/10/2011 |
New Accounts
Filed |
|
08/07/2011 |
Change in
Reg.Office |
|
12/03/2011 |
Annual Returns |
|
11/10/2010 |
New Accounts
Filed |
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 structureFull
No group structure
Previous Director/Company Secretaries
|
Name |
Current Directorships |
Previous
Directorships |
|
COMPANY DIRECTORS
LIMITED |
9352 |
196298 |
|
TEMPLE
SECRETARIES LIMITED |
11625 |
198016 |
|
Average Invoice
Value |
£478.78 |
|
|
Invoices
available |
13 |
|
|
Paid |
13 |
|
|
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 |
13 |
0 |
0 |
0 |
0 |
|
Outstanding |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.61 |
|
|
1 |
Rs.92.95 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.