MIRA INFORM REPORT

Report No. :	502460
Report Date :	09.04.2018

IDENTIFICATION DETAILS

Name :	DIAMOND DEALER DIRECT LIMITED
Registered Office :	41-42 Warstone Lane Hockley Birmingham B18 6JJ
Country :	United Kingdom
Financials (as on) :	31.05.2017
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 Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	--

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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
United Kingdom	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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; 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 the UK’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 then CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which has continued under the Conservative government. However, the deficit still remains one of the highest in the G7, standing at 3.6% of GDP as of 2017, and the UK has pledged to lower its corporation tax from 20% to 17% by 2020. The UK had a debt burden of 90.4% GDP at the end of 2017.

The UK’s economy has begun to slow since the referendum vote to leave the EU in June 2016. A sustained depreciation of the British pound has increased consumer and producer prices, weighing on consumer spending without spurring a meaningful increase in exports. The UK has an extensive trade relationship with other EU members through its single market membership and economic observers have warned the exit will jeopardize its position as the central location for European financial services. Prime Minister MAY is seeking a new “deep and special” trade relationship with the EU following the UK’s exit. However, economists doubt that the UK will be able to preserve the benefits of EU membership without the obligations.

Source : CIA

Company Name and address

DIAMOND DEALER DIRECT LIMITED

41-42 WARSTONE LANE HOCKLEY BIRMINGHAM B18 6JJ

Company No

05697755

Company Status

Active - Accounts Filed

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 01212001177

Fax Number

TPS No

FPS Yes

Incorporation Date 04/02/2006

Previous Name

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 31/10/2017

Currency GBP

Share Capital £99

SIC07 47770

Charity Number -

SIC07 Description RETAIL SALE OF WATCHES AND JEWELLERY IN SPECIALISED STORES

Principal Activity

Additional Information

CCJ's 1 (£6,837)

09/07/2014 COUNTY COURT BUSINESS CENTRE £6,837 Satisfied

Ultimate Holding Company -

Accountant BALDWINS LIMITED

Mortgages 1

Group 0 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder's Funds Employees

31/05/2017 - - £254,176 -

31/05/2016 - - £240,727 -

31/05/2015 - - £202,502 -

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 only made late payments on a low percentage of invoices.

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 -	£6,837
Total Number of Writs -	-

Total Current Directors	1	Total Current Secretaries	1
Total Previous Directors / Company Secretaries	1	Total Person's With Significant Control	2

Current Directors

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

Current Company Secretary

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

Top 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

Profit & Loss

	Date Of Accounts	31/05/17	(%)	31/05/16	(%)	31/05/15	(%)	31/05/14	(%)	31/05/13
	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	-	-	£7,445	-12.3%	£8,488	-0.6%	£8,539	-19.5%	£10,614
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/05/17	(%)	31/05/16	(%)	31/05/15	(%)	31/05/14	(%)	31/05/13
	Tangible Assets	£64,594	13.9%	£56,704	-10.6%	£63,403	5.4%	£60,141	-9.9%	£66,751
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£64,594	13.9%	£56,704	-10.6%	£63,403	5.4%	£60,141	-9.9%	£66,751
	Stock	£1,337,979	14.8%	£1,165,524	3.2%	£1,129,844	-34.6%	£1,726,288	-6%	£1,836,570
	Trade Debtors	£44,571	-18%	£54,371	-92.2%	£695,255	66.4%	£417,714	37.1%	£304,668
	Cash	£19,917	-77.1%	£86,800	22.2%	£71,030	6.7%	£66,564	182.2%	£23,591
	Other Debtors	£747,588	2.9%	£726,770	-	0	-100%	£173,802	58.7%	£109,545
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£2,150,055	5.7%	£2,033,465	7.2%	£1,896,129	-20.5%	£2,384,368	4.8%	£2,274,374
	Trade Creditors	£1,438,429	14%	£1,262,093	-19.6%	£1,570,529	-29.9%	£2,241,002	4.9%	£2,135,809
	Bank Loans & Overdrafts	£65,378	2%	£64,098	-	0	-	0	-	0
	Other Short Term Finance	£2,636	-35.7%	£4,100	-	0	-	0	-	0
	Miscellaneous Current Liabilities	£382,805	-1.2%	£387,535	-	0	-	0	-	0
	Total Current Liabilities	£1,889,248	10%	£1,717,826	9.4%	£1,570,529	-29.9%	£2,241,002	4.9%	£2,135,809
	Bank Loans & Overdrafts and LTL	£136,603	-30.2%	£195,714	4.9%	£186,501	999.9%	£3,983	-	0
	Other Long Term Finance	0	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£71,225	-45.9%	£131,616	-29.4%	£186,501	999.9%	£3,983	-	0

Capital & Reserves

	Date Of Accounts	31/05/17	(%)	31/05/16	(%)	31/05/15	(%)	31/05/14	(%)	31/05/13
	Called Up Share Capital	£99	-	£99	-	£99	-	£99	-	£99
	P & L Account Reserve	£254,077	5.6%	£240,628	18.9%	£202,403	1.5%	£199,425	-2.8%	£205,217
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£254,176	5.6%	£240,727	18.9%	£202,502	1.5%	£199,524	-2.8%	£205,316

Other Financial Items

	Date Of Accounts	31/05/17	(%)	31/05/16	(%)	31/05/15	(%)	31/05/14	(%)	31/05/13
	Net Worth	£254,176	5.6%	£240,727	18.9%	£202,502	1.5%	£199,524	-2.8%	£205,316
	Working Capital	£260,807	-17.4%	£315,639	-3.1%	£325,600	127.1%	£143,366	3.5%	£138,565
	Total Assets	£2,214,649	6%	£2,090,169	6.7%	£1,959,532	-19.8%	£2,444,509	4.4%	£2,341,125
	Total Liabilities	£1,960,473	6%	£1,849,442	5.3%	£1,757,030	-21.7%	£2,244,985	5.1%	£2,135,809
	Net Assets	£254,176	5.6%	£240,727	18.9%	£202,502	1.5%	£199,524	-2.8%	£205,316

Miscellaneous

	Date Of Accounts	31/05/17	(%)	31/05/16	(%)	31/05/15	(%)	31/05/14	(%)	31/05/13
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£325,401	-12.6%	£372,343	-4.3%	£389,003	91.1%	£203,507	-0.9%	£205,316
	Number of Employees	-	-	-	-	-	-	-	-	-
	Accountants	BALDWINS LIMITED
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	31/05/17	31/05/16	31/05/15	31/05/14	31/05/13
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	1.14	1.18	1.21	1.06	1.06
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	53.70	81.30	92.10	2	0
	Equity in %	11.50	11.50	10.30	8.20	8.80
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	0.42	0.50	0.48	0.29	0.20
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	7.43	7.13	7.75	11.23	10.40
	Total Debt Ratio	7.71	7.68	8.67	11.25	10.40
	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
03/11/2017	New Accounts Filed
03/11/2017	New Accounts Filed
06/09/2017	Payment Data Update Received
10/08/2017	Confirmation Statement
22/02/2017	New Accounts Filed
27/12/2016	Payment Data Update Received
05/08/2016	Annual Returns
23/02/2016	New Accounts Filed
19/02/2016	Payment Data Update Received
24/12/2015	Payment Data Update Received
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

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 Active Appointments		Previous Appointments	Dissolved Companies
Christopher Shellis	0		1	1
Total Persons With Significant Control		2	Total Statements		0
Active		2	Active		0
Ceased		0	Ceased		0

Active Persons With Significant Control

Name	Mr Rajesh Mahesh Vora	Kind	Individual Person With Significant Control
Address	41-42 Warstone Lane, Hockley, Birmingham	Country Of Residence	England
Post Code	B18 6JJ	Nationality	British
Date of Birth	06/1980	Notified On	06/04/2016
Nature Of Control	Ownership Of Shares 50 To 75 Percent,Voting Rights 50 To 75 Percent,Right To Appoint And Remove Directors,Significant Influence Or Control
Name	Mrs Purna Vora	Kind	Individual Person With Significant Control
Address	41-42 Warstone Lane, Hockley, Birmingham	Country Of Residence	England
Post Code	B18 6JJ	Nationality	British
Date of Birth	05/1946	Notified On	06/04/2016
Nature Of Control	Ownership Of Shares 25 To 50 Percent,Voting Rights 25 To 50 Percent

Ceased Persons With Significant Control

No Ceased Persons With Significant Control To Display

Active Statements

No Active Statements To Display

Ceased Statements

No Ceased Statements To Display

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.99
UK Pound	1	INR 90.96
Euro	1	INR 79.51
GBP	1	INR 91.49

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

INFORMATION DETAILS

Analysis Done by :	VAR
Report Prepared by :	TRU

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.