MIRA INFORM REPORT

Report No. :	340227
Report Date :	11.09.2015

IDENTIFICATION DETAILS

Name :	CHECKER LEATHER LTD
Registered Office :	Unit 2, Western Road Industrial Estate, Kilmarnock, KA3 1LU
Country :	United Kingdom
Financials (as on) :	31.12.2014
Date of Incorporation :	22.10.1979
Com. Reg. No.:	SC069706
Legal Form :	Private Limited with Share Capital
Line of Business :	· Wholesale of Clothing and Footwear · Manufacture of Luggage and the Like, Saddlery.
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 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: CHECKER LEATHER LIMITED

Company No: SC069706

Company Status: Active - Accounts Filed

Registered Address: UNIT 2 WESTERN ROAD INDUSTRIAL ESTATE KILMARNOCK KA3 1LU

Company Summary

Registered Address UNIT 2, WESTERN ROAD INDUSTRIAL ESTATE, KILMARNOCK, KA3 1LU

Trading Address Unit 2, Western Industrial Estate, Crathie Road, Kilmarnock, Ayrshire, KA3 1LU

Website Address http://www.checkerleather.com

Telephone Number 01563541709

Fax Number --

TPS No

FPS No --

Incorporation Date 22/10/1979

Previous Name --

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 12/06/2015

Currency GBP

Share Capital £46,900

SIC07 46420

Charity Number -

SIC07 Description WHOLESALE OF CLOTHING AND FOOTWEAR

Principal Activity Manufacture of luggage and the like, saddlery.

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

31/12/2014 - - £835,465 -

31/12/2013 - - £678,267 -

31/12/2012 - - £427,231 -

Mortgage Summary

Total Mortgage 5

Outstanding 3

Satisfied 2

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 4

Total Value of Documented Trade £4,058

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 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	5
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	1

Current Directors

Name	Peter Wilson Pattison	Date of Birth	12/10/1949
Officers Title	Mr	Nationality	British
Present Appointments	5	Function	Director
Appointment Date	31/12/1988
Address	Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire, KA3 1LU

Name	Scott Forsyth Latimer	Date of Birth	14/02/1945
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Director
Appointment Date	26/05/1992
Address	Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire, KA3 1LU

Name	Agnes Janet Pattison	Date of Birth	09/01/1950
Officers Title	Mrs	Nationality	British
Present Appointments	5	Function	Director
Appointment Date	31/12/1988
Address	Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire, KA3 1LU

Name	Robert William Gibon Finch	Date of Birth	07/04/1947
Officers Title	Mr	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	15/12/2005
Address	Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire, KA3 1LU

Name	Ian Howard Collinge	Date of Birth	20/09/1963
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	01/01/2010
Address	Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire, KA3 1LU

Current Company Secretary

Name	Agnes Janet Pattison	Date of Birth	09/01/1950
Officers Title	Mrs	Nationality	British
Present Appointments	5	Function	Company Secretary
Appointment Date	31/12/1988
Address	Kenway Cottage, Kilmaurs, Kilmarnock, Ayrshire, KA3 2PG

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
PETER PATTISON	GBP	15,640	PREFERENCE	1	33.35
AGNES JANET PATTISON	GBP	15,640	PREFERENCE	1	33.35
SCOTT LATIMER	GBP	14,720	PREFERENCE	1	31.39
PETER PATTISON	GBP	315	ORDINARY	1	0.67
AGNES JANET PATTISON	GBP	297	ORDINARY	1	0.63
SCOTT LATIMER	GBP	288	ORDINARY	1	0.61

Financials

Profit & Loss

	Date Of Accounts	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
	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	£5,665	46%	£3,881	27.1%	£3,054	1.2%	£3,018	-25%	£4,023
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
	Tangible Assets	£16,997	-15.8%	£20,185	120.2%	£9,165	1.3%	£9,045	-25%	£12,063
	Intangible Assets	£12,500	-10.7%	£14,000	-9.7%	£15,500	-8.8%	£17,000	-8.1%	£18,500
	Total Fixed Assets	£29,497	-13.7%	£34,185	38.6%	£24,665	-5.3%	£26,045	-14.8%	£30,563
	Stock	£682,764	-8%	£742,197	109.6%	£354,131	-26.3%	£480,288	1.8%	£471,929
	Trade Debtors	£711,648	-13.5%	£822,874	-7.7%	£891,893	38.3%	£644,874	52.9%	£421,823
	Cash	£155,631	262.1%	£42,981	-53.7%	£92,734	62%	£57,254	-7.6%	£61,985
	Other Debtors	0	-	0	-	0	-	0	-	0
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£1,550,043	-3.6%	£1,608,052	20.1%	£1,338,758	13.2%	£1,182,416	23.7%	£955,737
	Trade Creditors	£739,432	-22.9%	£959,327	2.7%	£934,359	3.7%	£901,350	34%	£672,633
	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	£739,432	-22.9%	£959,327	2.7%	£934,359	3.7%	£901,350	34%	£672,633
	Bank Loans & Overdrafts and LTL	£4,643	-	£4,643	153.3%	£1,833	1.3%	£1,809	-25%	£2,413
	Other Long Term Finance	0	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£4,643	-	£4,643	153.3%	£1,833	1.3%	£1,809	-25%	£2,413

.

Capital & Reserves

	Date Of Accounts	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
	Called Up Share Capital	£126,900	-	£126,900	-	£126,900	170.6%	£46,900	999.9%	£900
	P & L Account Reserve	£708,565	28.5%	£551,367	83.6%	£300,331	16.2%	£258,402	-2.3%	£264,354
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-100%	£46,000
	Shareholder Funds	£835,465	23.2%	£678,267	58.8%	£427,231	39.9%	£305,302	-1.9%	£311,254

Other Financial Items

	Date Of Accounts	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
	Net Worth	£822,965	23.9%	£664,267	61.3%	£411,731	42.8%	£288,302	-1.5%	£292,754
	Working Capital	£810,611	25%	£648,725	60.4%	£404,399	43.9%	£281,066	-0.7%	£283,104
	Total Assets	£1,579,540	-3.8%	£1,642,237	20.4%	£1,363,423	12.8%	£1,208,461	22.5%	£986,300
	Total Liabilities	£744,075	-22.8%	£963,970	3%	£936,192	3.7%	£903,159	33.8%	£675,046
	Net Assets	£835,465	23.2%	£678,267	58.8%	£427,231	39.9%	£305,302	-1.9%	£311,254

Cash Flow

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

Miscellaneous

	Date Of Accounts	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£840,108	23%	£682,910	59.2%	£429,064	39.7%	£307,111	-2.1%	£313,667
	Number of Employees	-	-	-	-	-	-	-	-	-
	Accountants	THE HANSEN COMPANY
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	31/12/14	31/12/13	31/12/12	31/12/11	31/12/10
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	2.10	1.68	1.43	1.31	1.42
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	0.60	0.70	0.40	0.60	0.80
	Equity in %	53.30	41.70	31.70	25.60	32.20
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	1.17	0.90	1.05	0.77	0.71
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	0.88	1.41	2.18	2.95	2.16
	Total Debt Ratio	0.89	1.42	2.19	2.95	2.16
	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
15/06/2015	New Accounts Filed
04/12/2014	Annual Returns
07/06/2014	New Accounts Filed
07/06/2014	New Accounts Filed
13/12/2013	Annual Returns
11/05/2013	New Accounts Filed
13/04/2013	New Accounts Filed
13/04/2013	New Accounts Filed
10/12/2012	Annual Returns
14/05/2012	New Accounts Filed
14/05/2012	New Accounts Filed
09/12/2011	Annual Returns
13/05/2011	New Accounts Filed
13/05/2011	New Accounts Filed
18/12/2010	Annual Returns

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:	FLOATING CHARGE
Date Charge Created:	26/10/12
Date Charge Registered:	01/11/12
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	CLYDESDALE BANK PLC
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE
Details:	UNDERTAKING & ALL PROPERTY & ASSETS PRESENT & FUTURE, INCLUDING UNCALLED CAPITAL
Mortgage Type:	FLOATING CHARGE
Date Charge Created:	13/11/01
Date Charge Registered:	15/11/01
Date Charge Satisfied:	11/10/08
Status:	SATISFIED
Person(s) Entitled:	LLOYDS TSB COMMERCIAL FINANCE LIMITED
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE
Details:	UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY INCLUDING UNCALLED CAPITAL

Mortgage Type:	STANDARD SECURITY
Date Charge Created:	20/11/95
Date Charge Registered:	28/11/95
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	CLYDESDALE BANK PUBLIC LIMITED COMPANY
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE
Details:	THE STATION,CROSSHOUSE ROAD,KILMAURS
Mortgage Type:	FLOATING CHARGE
Date Charge Created:	23/03/93
Date Charge Registered:	01/04/93
Date Charge Satisfied:	13/06/03
Status:	SATISFIED
Person(s) Entitled:	ENTERPRISE AYRSHIRE
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE
Details:	UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY INCLUDING UNCALLED CAPITAL

Mortgage Type:	FLOATING CHARGE
Date Charge Created:	13/05/86
Date Charge Registered:	23/05/86
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	CLYDESDALE BANK PUBLIC LIMITED COMPANY
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE
Details:	UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY INCLUDING UNCALLED CAPITAL

Trade Debtors / Bad Debt Detail

	Total Number of Documented Trade	Total Value of Documented Trade
Trade Debtors	4	£4,058
Company Name	Amount	Statement Date
Plain Leather Limited	£1,717	30/08/2012
Freeland Travel Goods Limited	£1,578	21/05/2013
D R Swann (St Albans) Limited	£608	02/02/2012
Mille Murano Limited	£155	12/06/2013

Previous Director/Company Secretaries

Name		Current Directorships	Previous Directorships
Laurence Wilson Pattison		0	1
Average Invoice Value	Ł112.99
Invoices available	26
Paid	26
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	17	8	1	0	0
Outstanding	0	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.58
UK Pound	1	Rs.102.29
Euro	1	Rs.74.71

INFORMATION DETAILS

Analysis Done by :	RAS
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%)

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.