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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

516366

Report Date :

23.06.2018

 

IDENTIFICATION DETAILS

 

Name :

J ROSENFELD & SONS LTD

 

 

Registered Office :

11 Hatton Garden London Ec1n 8ah

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

26.11.2014

 

 

Com. Reg. No.:

09328152

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Wholesale of Watches and Jewellery

 

 

No. of Employees :

4

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

C

 

Credit Rating

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Moderate

 

 

Payment Behaviour :

Slow 

 

 

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

 

Country Name

Previous Rating

(31.12.2017)

Current Rating

(01.04.2018)

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

 

Company Name:           J ROSENFELD & SONS LTD

Company No:                09328152

Company Status:          Active - Accounts Filed

Registered Address:      11 HATTON GARDEN LONDON EC1N 8AH

 

 

Company Summary

 

Registered Address

11 HATTON GARDEN
LONDON
EC1N 8AH

Trading Address

Rosediamond House
11 Hatton Garden
London
EC1N 8AH

Website Address           -

 

Telephone Number        02078313470

 

TPS                              No

FPS                              Yes

Incorporation Date         26/11/2014

 

Type                             Private limited with Share Capital

 

 

FTSE Index                   -

Date of Change             -

Filing Date of Accounts 19/12/2017

Currency                       GBP

Share Capital                £3

SIC07                           46480

Charity Number             -

SIC07 Description         WHOLESALE OF WATCHES AND JEWELLERY

 

 

Additional Information

 

CCJ's                                                   0 (£0)

 

No CCJ Information To Display

Ultimate Holding Company                    -

Accountant                                           FSPG

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

31/03/2017        -                       -                                   £148,713                                   4

31/03/2016        -                       -                                   £215,050                                   3

 

 

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.

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 -

0

Total Value of Satisfied CCJs -

Total Number of Writs -

-

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

1

Total Person's With Significant Control

2

 

 

Current Directors

 

Title

Mr

Function

Director

Name

Michael Gary Rosenfeld

Nationality

British

Date of Birth

06/1957

Present Appointments

27

Latest Address

11 Hatton Garden, London

Appointment Date

26/11/2014

Post Code

EC1N 8AH

Title

Mr

Function

Director

Name

Gerard Peter Burton

Nationality

British

Date of Birth

07/1966

Present Appointments

24

Latest Address

11 Hatton Garden, London

Appointment Date

14/03/2017

Post Code

EC1N 8AH

 

 

Current Company Secretary

 

Title

Function

Company Secretary

Name

H S (NOMINEES) LIMITED

Nationality

British

Date of Birth

-

Present Appointments

583

Latest Address

First Floor Battle House, 1 East Barnet Road, New Barnet, Herts

Appointment Date

25/11/2016

Post Code

EN4 8RR

 

 

Top Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

MICHAEL ROSENFELD

GBP

2

ORDINARY

1

66.67

ESTELLE ROSENFELD

GBP

1

ORDINARY

1

33.33

 

 

Financials

 

Profit & Loss

Date Of Accounts

31/03/17

(%)

31/03/16

(%)

-

(%)

-

(%)

-

Weeks

52

(%)

70

(%)

-

(%)

-

(%)

-

Currency

GBP

(%)

GBP

(%)

-

(%)

-

(%)

-

Consolidated A/cs

N

(%)

N

(%)

-

(%)

-

(%)

-

Turnover

-

-

-

-

-

-

-

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-

-

-

-

-

-

Gross Profit

-

-

-

-

-

-

-

-

-

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

-

-

-

-

-

-

-

-

-

Depreciation

£2,486

-37.3%

£3,968

-

-

-

-

-

-

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

Balance Sheet

Date Of Accounts

31/03/17

(%)

31/03/16

(%)

-

(%)

-

(%)

-

Tangible Assets

£9,941

13.6%

£8,748

-

-

-

-

-

-

Intangible Assets

0

-

0

-

-

-

-

-

-

Total Fixed Assets

£9,941

13.6%

£8,748

-

-

-

-

-

-

Stock

£12,823,271

-0.8%

£12,922,470

-

-

-

-

-

-

Trade Debtors

£1,571,153

41%

£1,114,686

-

-

-

-

-

-

Cash

£276,744

-65.1%

£792,987

-

-

-

-

-

-

Other Debtors

£2,675,787

55.6%

£1,719,700

-

-

-

-

-

-

Miscellaneous Current Assets

0

-

0

-

-

-

-

-

-

Total Current Assets

£17,346,955

4.8%

£16,549,843

-

-

-

-

-

-

Trade Creditors

£2,282,681

50.4%

£1,517,524

-

-

-

-

-

-

Bank Loans & Overdrafts

£1,642,696

-31.7%

£2,405,258

-

-

-

-

-

-

Other Short Term Finance

0

-

0

-

-

-

-

-

-

Miscellaneous Current Liabilities

£13,282,806

6.9%

£12,420,759

-

-

-

-

-

-

Total Current Liabilities

£17,208,183

5.3%

£16,343,541

-

-

-

-

-

-

Bank Loans & Overdrafts and LTL

£1,642,696

-31.7%

£2,405,258

-

-

-

-

-

-

Other Long Term Finance

0

-

0

-

0

-

-

-

-

Total Long Term Liabilities

0

-

0

-

-

-

-

-

-

.

Capital & Reserves

Date Of Accounts

31/03/17

(%)

31/03/16

(%)

-

(%)

-

(%)

-

Called Up Share Capital

£3

-

£3

-

-

-

-

-

-

P & L Account Reserve

£148,710

-30.8%

£215,047

-

-

-

-

-

-

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£148,713

-30.8%

£215,050

-

-

-

-

-

-

Other Financial Items

Date Of Accounts

31/03/17

(%)

31/03/16

(%)

-

(%)

-

(%)

-

Net Worth

£148,713

-30.8%

£215,050

-

-

-

-

-

-

Working Capital

£138,772

-32.7%

£206,302

-

-

-

-

-

-

Total Assets

£17,356,896

4.8%

£16,558,591

-

-

-

-

-

-

Total Liabilities

£17,208,183

5.3%

£16,343,541

-

-

-

-

-

-

Net Assets

£148,713

-30.8%

£215,050

-

-

-

-

-

-

Cash Flow

Date Of Accounts

31/03/17

(%)

31/03/16

(%)

-

(%)

-

(%)

-

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

Miscellaneous

Date Of Accounts

31/03/17

(%)

31/03/16

(%)

-

(%)

-

(%)

-

Contingent Liability

NO

-

NO

-

-

-

-

-

-

Capital Employed

£148,713

-30.8%

£215,050

-

-

-

-

-

-

Number of Employees

4

33.3%

3

-

-

-

-

-

-

Accountants

FSPG

Auditors

Auditor Comments

The company is exempt from audit

Bankers

Bank Branch Code

Ratios

Date Of Accounts

31/03/17

31/03/16

-

-

-

Pre-tax profit margin %

-

-

-

-

-

Current ratio

1.01

1.01

-

-

-

Sales/Net Working Capital

-

-

-

-

-

Gearing %

1104.60

1118.50

-

-

-

Equity in %

0.90

1.30

-

-

-

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.26

0.22

-

-

-

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

115.71

75.99

-

-

-

Total Debt Ratio

115.71

75.99

-

-

-

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

30/12/2017

New Accounts Filed

04/12/2017

Confirmation Statement

16/03/2017

New Board Member Mr G.P. Burton appointed

21/12/2016

New Company Secretary H S (NOMINEES) LIMITED appointed

10/12/2016

Annual Returns

07/12/2016

Ms H. Li has resigned as company secretary

07/12/2016

New Company Secretary H S (NOMINEES) LIMITED appointed

01/10/2016

New Accounts Filed

08/01/2016

Annual Returns

05/12/2014

New Board Member Mr M.G. Rosenfeld appointed

01/12/2014

Change in Reg.Office

01/12/2014

New Company Secretary Ms H. Li appointed

28/11/2014

New Board Member Mr M. Rosenfeld appointed

 

Previous Company Names

No Previous Names found

 

Writ Details

No writs found

 

 

Statistics

 

Group

-

Linkages

0 companies

Countries

In 0 countries

 

Group Structure Full

No Group Structure

 

 

 

Mortgage Details

 

Mortgage Type:

Date Charge Created:

09/03/15

Date Charge Registered:

13/03/15

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

BARCLAYS 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

Hongbin Li

0

1

0

Total Persons With Significant Control

2

Total Statements

0

Active

2

Active

0

Ceased

0

Ceased

0

 

 

Active Persons With Significant Control

 

Name

Mr Michael Gary Rosenfeld

Kind

Individual Person With Significant Control

Address

11 Hatton Garden, London

Country Of Residence

United Kingdom

Post Code

EC1N 8AH

Nationality

British

Date of Birth

06/1957

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

Name

Estelle Patricia Rosenfeld

Kind

Individual Person With Significant Control

Address

11 Hatton Garden, London

Country Of Residence

United Kingdom

Post Code

EC1N 8AH

Nationality

British

Date of Birth

08/1928

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

Average Invoice Value

£78.59

Invoices available

5

Paid

1

Outstanding

4

 

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

1

0

0

0

Outstanding

0

0

0

0

4

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 67.77

UK Pound

1

INR 89.96

Euro

1

INR 78.86

GBP

1

INR 90.04

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SDA

                                                


 

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.