MIRA INFORM REPORT

 

 

Report No. :

321458

Report Date :

12.05.2015

 

IDENTIFICATION DETAILS

 

Name :

DAYMOUNT LIMITED

 

 

Registered Office :

C/O Taylors, Battle House, 1 East Barnet Road, EN4 8RR

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

14.02.1994

 

 

Com. Reg. No.:

02897794

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

General merchants, traders, importers and exporters.

 

[We tried to confirm / obtain the detailed activity but the same is not available from any sources]

 

 

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 :

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

Company name

 

DAYMOUNT LIMITED

 

 

Company No

 

02897794

 

 

Company Status

 

Active - Accounts Filed

 

 

Registered Address

 

C/O TAYLORS

BATTLE HOUSE

1 EAST BARNET ROAD

EN4 8RR

 

 

Company Summary

 

Registered Address                  C/O TAYLORS                          Trading Address          Battle House

BATTLE HOUSE                                                            1 East Barnet Road

1 EAST BARNET ROAD                                                Barnet Hertfordshire

EN4 8RR                                                                       EN4 8RR

Website Address                      -

Telephone Number                   02083490039                             Fax Number

TPS                                          No                                            FPS                              No

Incorporation Date                   14/02/1994

Previous Name Type                Private limited with Share Capital FTSE Index                 -

Date of Change                         -                                               Filing Date of Accounts 19/12/2014

Currency                                  GBP                                         Share Capital               £75,000

SIC07                                       46190                                       Charity Number            -

 

SIC07 Description                    AGENTS INVOLVED IN THE SALE OF A VARIETY OF GOODS

Principal Activity                      General merchants, traders, importers and exporters.

 

 

Key Financials

 

Year to Date

Turnover                    Pre Tax Profit

Shareholder

Funds Employees

Year to Date

31/03/2014

£4,460,214

£361,184

-

31/03/2014

31/03/2013

£6,836,446

£327,223

-

31/03/2013

31/03/2012

£6,061,361

£301,619

-

31/03/2012

 

 

Mortgage Summary

 

Total Mortgage

0

Outstanding

0

Satisfied

0

 

 

Trade Debtors / Bad Debt Summary

 

Total Number of Documented Trade                                                     0

Total Value of Documented Trade                                                        £0

 

 

Commentary

 

This company has been treated as a Small company in respect of the rating/limit generated. The latest Balance Sheet indicates a positive net working capital position.

The latest cash balances are considered to be low 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 -          1                      Total Value of Satisfied CCJs -             £1,667

Total Number of Writs -                        -

 

 

Current Directors

 

Name

Nitesh Juthani

Date of Birth

17/12/1968

Officers Title

Mr

Nationality

British

Present Appointments

2

Function

Director

Appointment Date

01/03/2007

 

 

Address

C/o Taylors, Battle House, 1 East Barnet Road, Hertfordshire, EN4 8RR

 

 

Current Company Secretary

 

Top 20 Shareholders

 

Name               Currency          Share Count     Share Type       Nominal Value             % of Total Share Count

ICKFIELD LTD   GBP                 75,000              ORDINARY                   1                      100

 

 

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

£4,460,214

-34.8%

£6,836,446

12.8%

£6,061,361

-45.6%

£11,146,464

-23.4%

£14,554,041

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

£4,355,862

-35.1%

£6,714,766

12.8%

£5,955,181

-46%

£11,036,405

-23.5%

£14,428,042

Gross Profit

£104,352

-14.2%

£121,680

14.6%

£106,180

-3.5%

£110,059

-12.7%

£125,999

Wages & Salaries

£6,000

-

£6,000

-0.4%

£6,023

0.2%

£6,008

-2.9%

£6,186

Directors Emoluments

-

-

-

-

-

-

£6,008

2.9%

£5,841

Operating Profit

£70,813

-11.1%

£79,635

23.3%

£64,606

-1.1%

£65,309

-8.8%

£71,598

Depreciation

-

-

-

-

-

-

-

-

-

Audit Fees

-

-

-

-

-

-100%

£2,600

30%

£2,000

Interest Payments

£28,362

-40.5%

£47,630

33.9%

£35,584

31.7%

£27,021

-14.9%

£31,767

Pre Tax Profit

£42,451

32.6%

£32,005

10.3%

£29,022

-24.2%

£38,288

-3.9%

£39,831

Taxation

-£8,490

-32.6%

-£6,401

-10.3%

-£5,804

27.8%

-£8,040

8%

-£8,743

Profit After Tax

£33,961

32.6%

£25,604

10.3%

£23,218

-23.2%

£30,248

-2.7%

£31,088

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

£33,961

32.6%

£25,604

10.3%

£23,218

-23.2%

£30,248

-2.7%

£31,088

 

 

Balance Sheet

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Tangible Assets

0

-

0

-

0

-

0

-

0

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

0

-

0

-

0

-

0

-

0

Stock

0

-

0

-100%

£149,723

-42%

£257,956

65.8%

£155,581

Trade Debtors

£808,063

-22.4%

£1,041,654

52.6%

£682,775

-56%

£1,550,949

-34.1%

£2,352,492

Cash

£581

-16.8%

£698

-94.6%

£13,042

999.9%

£452

-96.7%

£13,850

Other Debtors

0

-100%

£328,525

155.7%

£128,485

-81.4%

£689,919

0%

£689,747

Miscellaneous Current Assets

£696,065

-

£696,065

-

£696,065

-

0

-

0

Total Current Assets

£1,504,709

-27.2%

£2,066,942

23.8%

£1,670,090

-33.2%

£2,499,276

-22.2%

£3,211,670

Trade Creditors

£1,036,694

-35.5%

£1,607,949

31.3%

£1,224,982

-41.3%

£2,085,789

-26.2%

£2,827,160

Bank Loans & Overdrafts

0

-100%

£174

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-100%

£56,269

-

£56,269

-

£56,269

Miscellaneous Current Liabilities

0

-100%

£24,765

-71.6%

£87,220

10.7%

£78,817

-1.6%

£80,088

Total Current Liabilities

£1,036,694

-36.5%

£1,632,888

19.3%

£1,368,471

-38.4%

£2,220,875

-25.1%

£2,963,517

Bank Loans & Overdrafts and LTL

£106,831

-0.2%

£107,005

-

0

-

0

-

0

Other Long Term Finance

0

-100%

£56,269

-

0

-

0

-

0

Total Long Term Liabilities

£106,831

-

£106,831

-

0

-

0

-

0

 

 

Capital & Reserves

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Called Up Share Capital

£75,000

-

£75,000

-

£75,000

-

£75,000

-

£75,000

P & L Account Reserve

£286,184

13.5%

£252,223

11.3%

£226,619

11.4%

£203,401

17.5%

£173,153

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£361,184

10.4%

£327,223

8.5%

£301,619

8.3%

£278,401

12.2%

£248,153

 

 

Other Financial Items

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Net Worth

£361,184

10.4%

£327,223

8.5%

£301,619

8.3%

£278,401

12.2%

£248,153

Working Capital

£468,015

7.8%

£434,054

43.9%

£301,619

8.3%

£278,401

12.2%

£248,153

Total Assets

£1,504,709

-27.2%

£2,066,942

23.8%

£1,670,090

-33.2%

£2,499,276

-22.2%

£3,211,670

Total Liabilities

£1,143,525

-34.3%

£1,739,719

27.1%

£1,368,471

-38.4%

£2,220,875

-25.1%

£2,963,517

Net Assets

£361,184

10.4%

£327,223

8.5%

£301,619

8.3%

£278,401

12.2%

£248,153

 

 

Cash Flow

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

Net Cashflow from Operations

-

-

£56,006

16.3%

£48,175

88.7%

£25,534

-40.6%

£43,021

Net Cashflow before Financing

-

100%

-£12,518

-199.4%

£12,590

194%

-£13,398

-219.1%

£11,253

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-£12,518

-199.4%

£12,590

194%

-£13,398

-219.1%

£11,253

 

 

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

£468,015

7.8%

£434,054

43.9%

£301,619

8.3%

£278,401

12.2%

£248,153

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

TAYLORS

Auditor Comments

The audit report contains no adverse comments

Bankers

BANCO BILBAO VIZCAYA

Bank Branch Code

23-59-11

 

 

Ratios

 

Date Of Accounts

31/03/14

31/03/13

31/03/12

31/03/11

31/03/10

Pre-tax profit margin %

0.95

0.47

0.48

0.34

0.27

Current ratio

1.45

1.27

1.22

1.13

1.08

Sales/Net Working Capital

9.53

15.75

20.10

40.04

58.65

Gearing %

29.60

32.70

0

0

0

Equity in %

24

15.80

18.10

11.10

7.70

Creditor Days

84.60

85.61

73.56

68.11

70.70

Debtor Days

65.94

55.46

41

50.64

58.83

Liquidity/Acid Test

1.45

1.26

1.11

1

1.03

Return On Capital Employed %

9.07

7.37

9.62

13.75

16.05

Return On Total Assets Employed %

2.82

1.54

1.73

1.53

1.24

Current Debt Ratio

2.87

4.99

4.53

7.97

11.94

Total Debt Ratio

3.16

5.31

4.53

7.97

11.94

Stock Turnover Ratio %

-

-

2.47

2.31

1.06

Return on Net Assets Employed %

11.75

9.78

9.62

13.75

16.05

 

 

Report Notes

 

There are no notes to display.

 

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

01/03/2015

Annual Returns

25/12/2014

New Accounts Filed

24/02/2014

Annual Returns

11/06/2013

New Accounts Filed

11/06/2013

New Accounts Filed

20/03/2013

Annual Returns

15/01/2013

New Accounts Filed

02/04/2012

Annual Returns

06/01/2012

New Accounts Filed

08/08/2011

New Accounts Filed

08/08/2011

New Accounts Filed

19/02/2011

Annual Returns

08/06/2010

New Accounts Filed

08/06/2010

New Accounts Filed

25/03/2010

Annual Returns

 

 

Previous Company Names

 

No Previous Names found

 

 

Writ Details

 

No writs found

 

 

Statistics

 

Group

2 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

-

Ownership Status

Wholly Owned

Ultimate Holding Company

ICKFIELD LTD

 

 

Group Structure Full

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

ICKFIELD LTD

N/A

-

-

DAYMOUNT LIMITED

02897794

31.03.2014

N

£4,460,214

 

 

Exact CCJ Details

 

Date

Court

Amount

Status

Case Number

Date Paid

18/06/2009

NORTHAMPTON CCBC

£1,667

Satisfied

9QG68758

31/08/2009

 

 

Possible CCJs Details

 

There are no possible CCJ details

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

Vijay Kumar Modi

4

3

Margaret Tjen

0

2

Aditya Bhuwania

0

1

Mini Bhuwania

3

1

Sum Mei Lim

0

1

TAYLORS SECRETARIES LIMITED

59

37

Dipika Khaitan

2

2

FIRST DIRECTORS LIMITED

3526

39191

4 BUSINESS

5987

45288

Average Invoice Value

n/a

 

Invoices available

n/a

 

Paid

n/a

 

Outstanding

n/a

 

 

 

 

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

Outstanding

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.85

UK Pound

1

Rs.98.47

Euro

1

Rs.71.51

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

VNT

 

               

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.