MIRA INFORM REPORT

Report No. :	347944
Report Date :	31.10.2015

IDENTIFICATION DETAILS

Name :	DIAMOND DEALER DIRECT LIMITED
Registered Office :	41-42 Warstone Lane Hockley Birmingham B18 6JJ
Country :	United Kingdom
Financials (as on) :	31.05.2014
Date of Incorporation :	04.02.2006
Com. Reg. No.:	05697755
Legal Form :	Private Limited with Share Capital
Line of Business :	Retail Sale of Watches and Jewellery in Specialised Stores.
No. of Employees :	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 – 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

Company Name: DIAMOND DEALER DIRECT LIMITED

Company No: 05697755

Company Status: Active - Accounts Filed

Registered Address: 41-42 WARSTONE LANE HOCKLEY BIRMINGHAM B18 6JJ

Company Summary

Registered Address 41-42 WARSTONE LANE, HOCKLEY, BIRMINGHAM, B18 6JJ

Trading Address 42 Warstone Lane, Hockley, Birmingham, West Midlands, B18 6JJ

Website Address http://www.diamonddealerdirect.co.uk

Telephone Number 01212361907

Fax Number -

TPS No

FPS No

Incorporation Date 04/02/2006

Previous Name --

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 08/02/2015

Currency GBP

Share Capital £99

SIC07 47770

Charity Number -

SIC07 Description RETAIL SALE OF WATCHES AND JEWELLERY IN SPECIALISED STORES

Principal Activity

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

31/05/2014 - - £199,524 -

31/05/2013 - - £205,316 -

31/05/2012 - - £211,864 -

Mortgage Summary

Total Mortgage 1

Outstanding 1

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.

This company has only made late payments on a low percentage of invoices.

The latest Balance Sheet indicates a positive net working capital position.

The high debt/equity ratio indicates that assets are funded primarily by creditors rather than equity/reinvested profits.

There has been a reduction 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 -	£6,837
Total Number of Writs -	-

Total Current Directors	1
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	1

Current Directors

Name	Rajesh Mahesh Vora	Date of Birth	07/06/1980
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	04/02/2006
Address	26 Barlows Road, Edgbaston, Birmingham, B15 2PL

Current Company Secretary

Name	Purna Vora	Date of Birth	05/05/1946
Officers Title	Mrs	Nationality	British
Present Appointments	3	Function	Company Secretary
Appointment Date	04/02/2006
Address	26 Niall Close, Edgbaston, Birmingham, West Midlands, B15 3NX

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
RAJESH MAHESH VORA	GBP	50	ORDINARY	1	50.51
PURNA VORA	GBP	49	ORDINARY	1	49.49

Financials

Profit & Loss

	Date Of Accounts	31/05/14	(%)	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10
	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	£8,539	-19.5%	£10,614	-22.3%	£13,652	550.7%	£2,098	-64.1%	£5,852
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/05/14	(%)	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10
	Tangible Assets	£60,141	-9.9%	£66,751	-13%	£76,685	-14.6%	£89,755	62%	£55,398
	Intangible Assets	0	-	0	-	0	-100%	£6,762	-24.1%	£8,914
	Total Fixed Assets	£60,141	-9.9%	£66,751	-13%	£76,685	-20.5%	£96,517	50.1%	£64,312
	Stock	£1,726,288	-6%	£1,836,570	42.1%	£1,292,700	1.4%	£1,274,522	6.2%	£1,199,997
	Trade Debtors	£417,714	37.1%	£304,668	44.5%	£210,811	-11.3%	£237,670	19.3%	£199,227
	Cash	£66,564	182.2%	£23,591	-53.5%	£50,741	-28.7%	£71,169	139.4%	£29,726
	Other Debtors	£173,802	58.7%	£109,545	-53%	£233,168	-	0	-	0
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£2,384,368	4.8%	£2,274,374	27.2%	£1,787,420	12.9%	£1,583,361	10.8%	£1,428,950
	Trade Creditors	£2,241,002	4.9%	£2,135,809	29.3%	£1,652,241	12.4%	£1,469,356	16%	£1,266,525
	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	£2,241,002	4.9%	£2,135,809	29.3%	£1,652,241	12.4%	£1,469,356	16%	£1,266,525
	Bank Loans & Overdrafts and LTL	£3,983	-	0	-	0	-100%	£687	-	0
	Other Long Term Finance	0	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£3,983	-	0	-	0	-100%	£687	-	0

.

Capital & Reserves

	Date Of Accounts	31/05/14	(%)	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10
	Called Up Share Capital	£99	-	£99	-	£99	-	£99	-	£99
	P & L Account Reserve	£199,425	-2.8%	£205,217	-3.1%	£211,765	1%	£209,736	-7.5%	£226,638
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£199,524	-2.8%	£205,316	-3.1%	£211,864	1%	£209,835	-7.5%	£226,737

Other Financial Items

	Date Of Accounts	31/05/14	(%)	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10
	Net Worth	£199,524	-2.8%	£205,316	-3.1%	£211,864	4.3%	£203,073	-6.8%	£217,823
	Working Capital	£143,366	3.5%	£138,565	2.5%	£135,179	18.6%	£114,005	-29.8%	£162,425
	Total Assets	£2,444,509	4.4%	£2,341,125	25.6%	£1,864,105	11%	£1,679,878	12.5%	£1,493,262
	Total Liabilities	£2,244,985	5.1%	£2,135,809	29.3%	£1,652,241	12.4%	£1,470,043	16.1%	£1,266,525
	Net Assets	£199,524	-2.8%	£205,316	-3.1%	£211,864	1%	£209,835	-7.5%	£226,737

Cash Flow

	Date Of Accounts	31/05/14	(%)	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10
	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	31/05/14	(%)	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£203,507	-0.9%	£205,316	-3.1%	£211,864	0.6%	£210,522	-7.2%	£226,737
	Number of Employees	-	-	-	-	-	-	-	-	-
	Accountants	DHH
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	31/05/14	31/05/13	31/05/12	31/05/11	31/05/10
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	1.06	1.06	1.08	1.08	1.13
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	2	0	0	0.30	0
	Equity in %	8.20	8.80	11.40	12.50	15.30
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	0.29	0.20	0.29	0.21	0.18
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	11.23	10.40	7.79	7	5.58
	Total Debt Ratio	11.25	10.40	7.79	7	5.58
	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
02/08/2015	Annual Returns
11/02/2015	New Accounts Filed
11/02/2015	New Accounts Filed
26/07/2014	Annual Returns
25/02/2014	New Accounts Filed
25/02/2014	New Accounts Filed
14/02/2014	Annual Returns
02/03/2013	Annual Returns
01/03/2013	New Accounts Filed
28/02/2013	Mr C. Shellis has left the board
23/02/2012	Annual Returns
12/11/2011	New Accounts Filed
12/11/2011	New Accounts Filed
22/03/2011	Annual Returns
27/01/2011	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 Structure Full

No Group Structure

Exact CCJ Details

Date	Court	Amount	Status	Case Number	Date Paid
09/07/2014	COUNTY COURT BUSINESS CENTRE	£6,837	Satisfied	A1XJ0455	14/08/2014

Possible CCJs Details

Possible CCJ matches show CCJs that may be matched to a company based on various criteria such as similar trading names or addresses. This data is provided for your information only as an aid to decision-making and does not affect a company’s rating.

There are no possible CCJ details

Mortgage Details

Mortgage Type:
Date Charge Created:	04/07/14
Date Charge Registered:	08/07/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Christopher Shellis	1	1
Average Invoice Value	Ł392.52
Invoices available	49
Paid	49
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	22	17	7	3	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 8^th Century B.C.  India, in fact, remained undisputed leader till 18^th 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 30^th 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.65.22
UK Pound	1	Rs.99.93
Euro	1	Rs.71.67

INFORMATION DETAILS

Analysis Done by :	KIN
Report Prepared by :	NIT

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.