MIRA INFORM REPORT

Report No. :	497598
Report Date :	14.03.2018

IDENTIFICATION DETAILS

Name :	CHECKER LEATHER LIMITED
Registered Office :	Unit 2 Western Road Industrial Estate Kilmarnock Ka3 1lu
Financials (as on) :	31.12.2019
Country :	United Kingdom
Date of Incorporation :	22.10.1979
Com. Reg. No.:	SC069706
Legal Form :	Private limited with Share Capital
Line of Business :	· Manufacture of luggage and the like, saddler · Wholesale Of Clothing And Footwear
No. of Employees :	15

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

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

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

Company Name: CHECKER LEATHER LIMITED

Company No: SC069706

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 Yes

Incorporation Date 22/10/1979

Previous Name

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 24/04/2017

Currency GBP

Share Capital £900

SIC07 46420

Charity Number -

SIC07 Description WHOLESALE OF CLOTHING AND FOOTWEAR

Principal Activity Manufacture of luggage and the like, saddlery.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company -

Accountant THE HANSEN COMPANY

Mortgages 7

Trade Debtors -

Group 0 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

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

31/12/2016 - - £1,307,979 15

31/12/2015 - - £957,958 -

31/12/2014 - - £835,465 -

Mortgage Summary

Total Mortgage 7

Outstanding 2

Satisfied 5

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 5

Total Value of Documented Trade £4,332

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.

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 -	-

Back to Top

Total Current Directors	5	Total Current Secretaries	1
Total Previous Directors / Company Secretaries	5	Total Person's With Significant Control	4

Current Directors

Title	Mr	Function	Director
Name	Robert William Gibon Finch	Nationality	British
Date of Birth	04/1947	Present Appointments	1
Latest Address	Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire	Appointment Date	15/12/2005
Post Code	KA3 1LU
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report
Title	Mr	Function	Director
Name	Ian Howard Collinge	Nationality	British
Date of Birth	09/1963	Present Appointments	1
Latest Address	Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire	Appointment Date	01/01/2010
Post Code	KA3 1LU
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report

Title	Mr	Function	Director
Name	Michael Sifton	Nationality	Canadian
Date of Birth	03/1960	Present Appointments	1
Latest Address	Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire	Appointment Date	14/07/2017
Post Code	KA3 1LU
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report
Title	Ms	Function	Director
Name	Rhonda Hill	Nationality	Canadian
Date of Birth	01/1969	Present Appointments	1
Latest Address	Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire	Appointment Date	14/07/2017
Post Code	KA3 1LU
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report

Title	Mr	Function	Director
Name	Jonathan Harris	Nationality	Canadian
Date of Birth	01/1963	Present Appointments	1
Latest Address	Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire	Appointment Date	14/07/2017
Post Code	KA3 1LU
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report

Current Company Secretary

Title	Mr	Function	Company Secretary
Name	Jonathan Harris	Nationality
Date of Birth	-	Present Appointments	1
Latest Address	Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire	Appointment Date	14/07/2017
Post Code	KA3 1LU
Other Actions		View Consumer Report	View Trace Report
	View Compliance Report

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MEDIKE INTERNATIONAL CORPORATION	GBP	900	ORDINARY	1	100
1

Financials

Profit & Loss

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
	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	£3,344	-22.9%	£4,339	-23.4%	£5,665	46%	£3,881	27.1%	£3,054
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
	Tangible Assets	£10,032	-25%	£13,376	-21.3%	£16,997	-15.8%	£20,185	120.2%	£9,165
	Intangible Assets	£10,331	-6.1%	£11,000	-12%	£12,500	-10.7%	£14,000	-9.7%	£15,500
	Total Fixed Assets	£20,363	-16.5%	£24,376	-17.4%	£29,497	-13.7%	£34,185	38.6%	£24,665
	Stock	£1,053,152	-12.3%	£1,201,144	75.9%	£682,764	-8%	£742,197	109.6%	£354,131
	Trade Debtors	£621,065	-33.6%	£935,018	31.4%	£711,648	-13.5%	£822,874	-7.7%	£891,893
	Cash	£164,822	143.7%	£67,634	-56.5%	£155,631	262.1%	£42,981	-53.7%	£92,734
	Other Debtors	£350,492	594%	£50,502	-	0	-	0	-	0
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£2,189,531	-2.9%	£2,254,298	45.4%	£1,550,043	-3.6%	£1,608,052	20.1%	£1,338,758
	Trade Creditors	£222,196	-50.4%	£447,654	-39.5%	£739,432	-22.9%	£959,327	2.7%	£934,359
	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
	Other Short Term Finance	0	-	0	-	0	-	0	-	0
	Miscellaneous Current Liabilities	£677,713	-22.1%	£870,387	-	0	-	0	-	0
	Total Current Liabilities	£899,909	-31.7%	£1,318,041	78.3%	£739,432	-22.9%	£959,327	2.7%	£934,359
	Bank Loans & Overdrafts and LTL	£2,006	-25%	£2,675	-42.4%	£4,643	-	£4,643	153.3%	£1,833
	Other Long Term Finance	0	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£2,006	-25%	£2,675	-42.4%	£4,643	-	£4,643	153.3%	£1,833

.

Capital & Reserves

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
	Called Up Share Capital	£126,900	-	£126,900	-	£126,900	-	£126,900	-	£126,900
	P & L Account Reserve	£1,181,079	42.1%	£831,058	17.3%	£708,565	28.5%	£551,367	83.6%	£300,331
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£1,307,979	36.5%	£957,958	14.7%	£835,465	23.2%	£678,267	58.8%	£427,231

Other Financial Items

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
	Net Worth	£1,297,648	37%	£946,958	15.1%	£822,965	23.9%	£664,267	61.3%	£411,731
	Working Capital	£1,289,622	37.7%	£936,257	15.5%	£810,611	25%	£648,725	60.4%	£404,399
	Total Assets	£2,209,894	-3%	£2,278,674	44.3%	£1,579,540	-3.8%	£1,642,237	20.4%	£1,363,423
	Total Liabilities	£901,915	-31.7%	£1,320,716	77.5%	£744,075	-22.8%	£963,970	3%	£936,192
	Net Assets	£1,307,979	36.5%	£957,958	14.7%	£835,465	23.2%	£678,267	58.8%	£427,231

Cash Flow

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£1,309,985	36.4%	£960,633	14.3%	£840,108	23%	£682,910	59.2%	£429,064
	Number of Employees	15	-	-	-	-	-	-	-	-
	Accountants	THE HANSEN COMPANY
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	31/12/16	31/12/15	31/12/14	31/12/13	31/12/12
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	2.43	1.71	2.10	1.68	1.43
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	0.20	0.30	0.60	0.70	0.40
	Equity in %	59.50	42.20	53.30	41.70	31.70
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	1.26	0.79	1.17	0.90	1.05
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	0.68	1.37	0.88	1.41	2.18
	Total Debt Ratio	0.68	1.37	0.89	1.42	2.19
	Stock Turnover Ratio %	-	-	-	-	-
	Return on Net Assets Employed %	-	-	-	-	-

Event History View Documents

Date	Description
11/01/2018	Confirmation Statement
21/07/2017	Ms A.J. Pattison has resigned as company secretary
21/07/2017	Ms A.J. Pattison has left the board
21/07/2017	Mr S.F. Latimer has left the board
21/07/2017	Mr P.W. Pattison has left the board
21/07/2017	New Company Secretary Mr J. Harris appointed
21/07/2017	New Board Member Mr J. Harris appointed
21/07/2017	New Board Member Ms R. Hill appointed
21/07/2017	New Board Member Mr M. Sifton appointed
26/04/2017	Payment Data Update Received
25/04/2017	New Accounts Filed
25/04/2017	New Accounts Filed
03/03/2017	Payment Data Update Received
16/02/2017	Payment Data Update Received
17/01/2017	Payment Data Update Received

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

Statistics

Group	0 companies
Linkages	0 companies
Countries	In 0 countries

Mortgage Details

Mortgage Type:
Date Charge Created:	14/07/17
Date Charge Registered:	01/08/17
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	SCOTT FORSYTH LATIMER;AGNES JANET PATTISON;PETER WILSON PATTISON;
Amount Secured:
Details:	CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKINGOF THE COMPANY.
Mortgage Type:
Date Charge Created:	14/07/17
Date Charge Registered:	25/07/17
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	THE BANK OF NOVA SCOTIA;
Amount Secured:
Details:	CONTAINS FLOATING CHARGE.CONTAINS NEGATIVE PLEDGE.

Mortgage Type:	FLOATING CHARGE
Date Charge Created:	26/10/12
Date Charge Registered:	01/11/12
Date Charge Satisfied:	04/08/17
Status:	SATISFIED
Person(s) Entitled:	CLYDESDALE BANK PLC;
Amount Secured:
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:	08/06/17
Status:	SATISFIED
Person(s) Entitled:	CLYDESDALE BANK PUBLIC LIMITED COMPANY;
Amount Secured:
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:	04/08/17
Status:	SATISFIED
Person(s) Entitled:	CLYDESDALE BANK PUBLIC LIMITED COMPANY;
Amount Secured:
Details:	UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY INCLUDING UNCALLED CAPITAL

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	5	£4,332
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
G Bright Handbags Limited		£274	22/07/2016
Mille Murano Limited		£155	12/06/2013

Previous Director/Company Secretaries

Name	Current Active Appointments		Previous Appointments	Dissolved Companies
Peter Wilson Pattison	1		1	3
Laurence Wilson Pattison	0		1	0
Scott Forsyth Latimer	0		1	3
Agnes Janet Pattison	0		3	3
Agnes Janet Pattison	0		3	3
Total Persons With Significant Control	4	Total Statements		0
Active	1	Active		0
Ceased	3	Ceased		0

Active Persons With Significant Control

Name	Jonathan Harris	Kind	Individual Person With Significant Control
Address	216 Main Street West, Markdale, Ontario	Country Of Residence	Canada
Post Code	N0C 1H0	Nationality	Canadian
Date of Birth	01/1963	Notified On	14/07/2017
Nature Of Control	Ownership Of Shares 50 To 75 Percent,Voting Rights 50 To 75 Percent,Right To Appoint And Remove Directors

Ceased Persons With Significant Control

Name	Mr Peter Wilson Pattison	Kind	Individual Person With Significant Control
Address	Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire	Country Of Residence	United Kingdom
Post Code	KA3 1LU	Nationality	British
Date of Birth	10/1949	Notified On	29/11/2016
Nature Of Control	Ownership of shares - between 25% and 50%	Ceased On	14/07/2017
Name	Ms Agnes Janet Pattison	Kind	Individual Person With Significant Control
Address	Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire	Country Of Residence	United Kingdom
Post Code	KA3 1LU	Nationality	British
Date of Birth	01/1950	Notified On	29/11/2016
Nature Of Control	Ownership of shares - between 25% and 50%	Ceased On	14/07/2017

Name	Mr Scott Forsyth Latimer	Kind	Individual Person With Significant Control
Address	Unit 2 Western Road Industrial Estate, Crathie Road, Kilmarnock, Ayrshire	Country Of Residence	Scotland
Post Code	KA3 1LU	Nationality	British
Date of Birth	02/1945	Notified On	29/11/2016
Nature Of Control	Ownership of shares - between 25% and 50%	Ceased On	14/07/2017

Active Statements

No Active Statements To Display

Ceased Statements

No Ceased Statements To Display

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.96
UK Pound	1	INR 90.23
Euro	1	INR 80.09
GBP	1	INR 90.94

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

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	KET

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.