MIRA INFORM REPORT

 

 

Report No. :

351496

Report Date :

27.11.2015

 

IDENTIFICATION DETAILS

 

Name :

DWJ (BIRMINGHAM) LTD

 

 

Registered Office :

1 Augusta Street Hockley Birmingham B18 6JA

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

16.03.2010

 

 

Com. Reg. No.:

07191231

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :
  • Wholesale of watches and jewellery
  • Wholesale jewellery sales and gold bullio dealers.

 

 

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 :

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 has been a net importer of energy since 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 6.0% in 2014.

In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.7% and in 2014, 2.6%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

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).

 

Source : CIA

 

 

Company Name and address

 

DWJ (BIRMINGHAM) LTD

 

Company No:

07191231

 

Registered Address:

1 AUGUSTA STREET HOCKLEY BIRMINGHAM B18 6JA

 

 

Company Summary

 

Registered Address

1 AUGUSTA STREET
 HOCKLEY BIRMINGHAM B18 6JA

Trading Address

 

1 Augusta Street Hockley Birmingham  West Midlands B18 6JA

Website Address

http://www.dwjewellery.com

Email

sales@dwjewellery.com

Telephone Number

01212367051

Fax Number

 

TPS

Yes

FPS

 

Incorporation Date

16/03/2010

 

 

Previous Name

---

Type

Private limited with Share Capital

FTSE Index

----

Date of Change

---

Filing Date of Accounts

12/12/2014

Currency

GBP

Share Capital

£100

SIC07

46480

Charity Number

----

 

 

SIC07 Description

WHOLESALE OF WATCHES AND JEWELLERY

Principal Activity

Wholesale jewellery sales and gold bullio dealers.

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31/03/2014

£21,474,251

£61,416

£274,967

--

31/03/2013

£34,348,488

£145,802

£228,729

--

31/03/2012

£41,707,757

£157,689

£115,459

--

 

 

Mortgage Summary

 

Total Mortgage              1

Outstanding                  1

Satisfied                       0

 

 

Trade Debtors / Bad Debt Summary

 

Total Number of Documented Trade       1

Total Value of Documented Trade          £15,106

 

 

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

3

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

0

 

 

Current Directors

 

Name

Michael Dilnot

Date of Birth

06/11/1952

Officers Title

Mr

Nationality

British

Present Appointments

2

Function

Director

Appointment Date

16/03/2010

Address

14 Lime Avenue, Ripley, Derbyshire, DE5 3HD

 

Name

Elizabeth Ann Dilnot

Date of Birth

15/09/1954

Officers Title

Ms

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

16/03/2010

Address

14 Lime Avenue, Ripley, Derbyshire, DE5 3HD

 

Name

John Michael Dilnot

Date of Birth

25/11/1979

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

16/03/2010

Address

68 Highfields Park Drive, Derby, DE22 1JU

 

 

Current Company Secretary

 

Name

Elizabeth Ann Dilnot

Date of Birth

-

Officers Title

Ms

Nationality

Present Appointments

1

Function

Company Secretary

Appointment Date

16/03/2010

Address

14 Lime Avenue, Ripley, Derbyshire, DE5 3HD

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

MICHAEL DILNOT

GBP

40

ORDINARY

1

40

ELIZABETH ANN DILNOT

GBP

40

ORDINARY

1

40

JOHN MICHAEL DILNOT

GBP

20

ORDINARY

1

20

 

 

Profit & Loss

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

-

Weeks

52

(%)

52

(%)

52

(%)

55

(%)

-

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

-

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

-

Turnover

£21,474,251

-37.5%

£34,348,488

-17.6%

£41,707,757

-

-

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

£20,988,571

-37.8%

£33,754,677

-17.9%

£41,137,368

-

-

-

-

Gross Profit

£485,680

-18.2%

£593,811

4.1%

£570,389

-

-

-

-

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

£101,663

-12.5%

£116,227

-

-

-

-

-

-

Operating Profit

£61,422

-57.9%

£145,802

-7.5%

£157,689

-

-

-

-

Depreciation

£14,109

-24.4%

£18,662

31.2%

£14,228

140.9%

£5,905

-

-

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

£6

-

-

-

-

-

-

-

-

Pre Tax Profit

£61,416

-57.9%

£145,802

-7.5%

£157,689

-

-

-

-

Taxation

-£15,178

53.3%

-£32,532

-16.6%

-£27,910

-

-

-

-

Profit After Tax

£46,238

-59.2%

£113,270

-12.7%

£129,779

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

£46,238

-59.2%

£113,270

-12.7%

£129,779

-

-

-

-

 

 

Balance Sheet

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

-

Tangible Assets

£47,715

-20.7%

£60,196

-22.6%

£77,774

39.8%

£55,635

-

-

Intangible Assets

£33,000

-42.1%

£57,000

-29.6%

£81,000

-22.9%

£105,000

-

-

Total Fixed Assets

£80,715

-31.1%

£117,196

-26.2%

£158,774

-1.2%

£160,635

-

-

Stock

£340,030

-36.6%

£536,518

14.1%

£470,188

65.2%

£284,593

-

-

Trade Debtors

£118,070

12.5%

£104,963

-27.9%

£145,677

41.7%

£102,840

-

-

Cash

£138,600

-19.6%

£172,424

48.9%

£115,786

-55.9%

£262,374

-

-

Other Debtors

£19,836

171.7%

£7,302

-29.8%

£10,409

-

0

-

-

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

-

Total Current Assets

£616,536

-24.9%

£821,207

10.7%

£742,060

14.2%

£649,807

-

-

Trade Creditors

£19,622

-91.4%

£228,192

-6.7%

£244,659

-26.9%

£334,641

-

-

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

-

Other Short Term Finance

0

-

0

-

0

-

0

-

-

Miscellaneous Current Liabilities

£98,272

-9.8%

£108,921

34.7%

£80,833

-

0

-

-

Total Current Liabilities

£117,894

-65%

£337,113

3.6%

£325,492

-2.7%

£334,641

-

-

Bank Loans & Overdrafts and LTL

£304,390

-18.3%

£372,561

-19%

£459,883

15%

£400,021

-

-

Other Long Term Finance

£304,390

-18.3%

£372,561

-19%

£459,883

-

0

-

-

Total Long Term Liabilities

£304,390

-18.3%

£372,561

-19%

£459,883

15%

£400,021

-

-

 

 

Capital & Reserves

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

-

Called Up Share Capital

£100

-

£100

-

£100

-

£100

-

-

P & L Account Reserve

£274,867

20.2%

£228,629

98.2%

£115,359

52.4%

£75,680

-

-

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£274,967

20.2%

£228,729

98.1%

£115,459

52.4%

£75,780

-

-

 

 

Other Financial Items

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

-

Net Worth

£241,967

40.9%

£171,729

398.4%

£34,459

217.9%

-£29,220

-

-

Working Capital

£498,642

3%

£484,094

16.2%

£416,568

32.2%

£315,166

-

-

Total Assets

£697,251

-25.7%

£938,403

4.2%

£900,834

11.2%

£810,442

-

-

Total Liabilities

£422,284

-40.5%

£709,674

-9.6%

£785,375

6.9%

£734,662

-

-

Net Assets

£274,967

20.2%

£228,729

98.1%

£115,459

52.4%

£75,780

-

-

 

 

Cash Flow

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

-

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

(%)

-

Contingent Liability

NO

-

NO

-

NO

-

NO

-

-

Capital Employed

£579,357

-3.6%

£601,290

4.5%

£575,342

20.9%

£475,801

-

-

Number of Employees

-

-

-

-

-

-

-

-

-

Accountants

SPRINGHILL ACCOUNTANCY SERVICES

Auditors

Auditor Comments

The company is exempt from audit

Bankers

HSBC BANK PLC

Bank Branch Code

40-31-23

 

 

Ratios

 

Date Of Accounts

31/03/14

31/03/13

31/03/12

31/03/11

-

Pre-tax profit margin %

0.29

0.42

0.38

-

-

Current ratio

5.23

2.44

2.28

1.94

-

Sales/Net Working Capital

43.07

70.95

100.12

-

-

Gearing %

110.70

162.90

398.30

527.90

-

Equity in %

41.40

26

14.10

10.70

-

Creditor Days

0.33

2.41

2.13

-

-

Debtor Days

2

1.11

1.27

-

-

Liquidity/Acid Test

2.34

0.84

0.83

1.09

-

Return On Capital Employed %

10.60

24.24

27.40

-

-

Return On Total Assets Employed %

8.80

15.53

17.50

-

-

Current Debt Ratio

0.42

1.47

2.81

4.41

-

Total Debt Ratio

1.53

3.10

6.80

9.69

-

Stock Turnover Ratio %

1.58

1.56

1.12

-

-

Return on Net Assets Employed %

22.33

63.74

136.57

-

-

 

 

Report Notes

 

There are no notes to display.

 

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

13/04/2015

Annual Returns

17/12/2014

New Accounts Filed

17/12/2014

New Accounts Filed

02/04/2014

Annual Returns

20/12/2013

New Accounts Filed

20/12/2013

New Accounts Filed

29/03/2013

Annual Returns

30/10/2012

New Accounts Filed

27/03/2012

Annual Returns

02/12/2011

New Accounts Filed

14/05/2011

Annual Returns

11/05/2011

Change in Reg.Office

11/05/2011

Change of Company Postcode

15/07/2010

Change in Reg.Office

15/07/2010

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 Full

 

No Group Structure

 

 

Mortgage Details

 

Mortgage Type:

Date Charge Created:

02/02/15

Date Charge Registered:

02/02/15

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

HSBC BANK PLC;

Amount Secured:

Details:

A FIXED AND FLOATING CHARGE OVER ALL ASSETSCONTAINS FIXED CHARGE.CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.

 

 

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

1

£15,106



Company Name

Amount

Statement Date

Event Jewellery Limited

£15,106

26/02/2014

 

 

Previous Director/Company Secretaries

 

No Previous Director Details

Average Invoice Value

Ł2575.78

Invoices available

11

Paid

9

Outstanding

2

 

 

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

0

9

0

0

0

Outstanding

0

2

0

0

0

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.55

UK Pound

1

Rs.100.64

Euro

1

Rs.70.70

GBP

1

Rs.100.65

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

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.