MIRA INFORM REPORT

Report No. :	507098
Report Date :	04.05.2018

IDENTIFICATION DETAILS

Name :	HANRON JEWELLERY LIMITED
Registered Office :	Haslers, Old Station Road, Loughton, IG10 4PL
Country :	United Kingdom
Financials (as on) :	31.03.2017
Date of Incorporation :	06.04.1993
Com. Reg. No.:	02807089
Legal Form :	Private Limited with Share Capital
Line of Business :	· Other retail sale of new goods in specialized stores (not commercial art galleries and opticians) · Jewellery wholesalers.
No. of Employees :	17 [2017]

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
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 Summary

Registered Address

Haslers
Old Station Road
Loughton
IG10 4PL

Trading Address

Hawke House
Old Station Road
Loughton
Essex
IG10 4PL

Trading Address

85 Hatton Garden, London,

EC1N, 8JR

Website Address http://www.hanron-jewellery.co.uk

Company Number 02807089

Telephone Number -

Fax Number -

TPS -

FPS Yes

Incorporation Date 06/04/1993

Previous Name -

Type Private Limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 09/09/2017

Currency GBP

Share Capital £1,000

SIC07 47789

Charity Number -

SIC07 Description Other retail sale of new goods in specialized stores (not commercial art galleries

and opticians)

Principal Activity Jewellery wholesalers.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company -

Accountant -

Mortgages 1

Group 0 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
31.03.2017	-	-	£842,320	17
31.03.2016	-	-	£767,273	19
31.03.2015	-	-	£714,325	-

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.

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 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 -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	-

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

Current Directors

Title	Mr	Function	Director
Name	Ronnie Hanan	Nationality	British
Date of Birth	10/1962	Present Appointments	1
Latest Address	16 Hall Road, St Johns Wood, London	Appointment Date	06/04/1993
Post Code	NW8 9RB

Current Company Secretary

Title	Mr	Function	Company Secretary
Name	Michael Hanan	Nationality	British
Date of Birth	07/1960	Present Appointments	2
Latest Address	11 Monkville Avenue, London	Appointment Date	01/02/2001
Post Code	NW11 0AH

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MR RONNIE HANAN	GBP	999	ORDINARY	1	99.9
SARAH HANAN	GBP	1	ORDINARY	1	0.1

Profit & Loss

	Date Of Accounts	31/03/17	(%)	31/03/16	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	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	£296,528	12.4%	£263,822	-	-	-	-	-	-
	Directors Emoluments	-	-	-	-	-	-	-	-	-
	Operating Profit	-	-	-	-	-	-	-	-	-
	Depreciation	£8,988	-23.2%	£11,707	28.2%	£9,129	-22.1%	£11,720	-11%	£13,165
	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	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	Tangible Assets	£26,961	-23.2%	£35,122	28.2%	£27,388	-22.1%	£35,160	-11%	£39,488
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£26,961	-23.2%	£35,122	28.2%	£27,388	-22.1%	£35,160	-11%	£39,488
	Stock	£1,549,316	5.7%	£1,465,254	10.7%	£1,323,138	7.7%	£1,228,500	14.8%	£1,069,988
	Trade Debtors	£479,311	9.6%	£437,129	5.1%	£415,983	0.8%	£412,530	3.7%	£397,700
	Cash	£7,096	153.1%	£2,804	322.3%	£664	-67.9%	£2,070	58.6%	£1,305
	Other Debtors	£31,582	170.2%	£11,688	-	0	-	0	-	0
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£2,067,305	7.8%	£1,916,875	10.2%	£1,739,785	5.9%	£1,643,100	11.9%	£1,468,993
	Trade Creditors	£813,864	10.4%	£737,336	-22.2%	£947,638	8%	£877,602	21.8%	£720,516
	Bank Loans & Overdrafts	£192,748	-10.3%	£214,866	114.9%	£100,000	-16.5%	£119,742	-	£119,742
	Other Short Term Finance	0	-	0	-	0	-	0	-	0
	Miscellaneous Current Liabilities	£202,964	24.6%	£162,828	-	0	-	0	-	0
	Total Current Liabilities	£1,209,576	8.5%	£1,115,030	6.4%	£1,047,638	5%	£997,344	18.7%	£840,258
	Bank Loans & Overdrafts and LTL	£235,118	-17.4%	£284,560	170.5%	£105,210	-16.8%	£126,387	-0.6%	£127,142
	Other Long Term Finance	0	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£42,370	-39.2%	£69,694	999.9%	£5,210	-21.6%	£6,645	-10.2%	£7,400

Capital & Reserves

	Date Of Accounts	31/03/17	(%)	31/03/16	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	Called Up Share Capital	£1,000	-	£1,000	-	£1,000	-	£1,000	-	£1,000
	P & L Account Reserve	£841,320	9.8%	£766,273	7.4%	£713,325	5.9%	£673,271	2%	£659,823
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£842,320	9.8%	£767,273	7.4%	£714,325	5.9%	£674,271	2%	£660,823

Other Financial Items

	Date Of Accounts	31/03/17	(%)	31/03/16	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	Net Worth	£842,320	9.8%	£767,273	7.4%	£714,325	5.9%	£674,271	2%	£660,823
	Working Capital	£857,729	7%	£801,845	15.8%	£692,147	7.2%	£645,756	2.7%	£628,735
	Total Assets	£2,094,266	7.3%	£1,951,997	10.5%	£1,767,173	5.3%	£1,678,260	11.3%	£1,508,481
	Total Liabilities	£1,251,946	5.7%	£1,184,724	12.5%	£1,052,848	4.9%	£1,003,989	18.4%	£847,658
	Net Assets	£842,320	9.8%	£767,273	7.4%	£714,325	5.9%	£674,271	2%	£660,823

Cash Flow

	Date Of Accounts	31/03/17	(%)	31/03/16	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	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	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£884,690	5.7%	£836,967	16.3%	£719,535	5.7%	£680,916	1.9%	£668,223
	Number of Employees	17	-10.5%	19	-	-	-	-	-	-
	Accountants
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers	NATIONAL WESTMINSTER BANK PLC
	Bank Branch Code

Ratios

	Date Of Accounts	31/03/17	31/03/16	31/03/15	31/03/14	31/03/13
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	1.71	1.72	1.66	1.65	1.75
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	27.90	37.10	14.70	18.70	19.20
	Equity in %	40.20	39.30	40.40	40.20	43.80
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	0.42	0.40	0.39	0.41	0.47
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	1.43	1.45	1.46	1.47	1.27
	Total Debt Ratio	1.48	1.54	1.47	1.48	1.28
	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
19/09/2017	New Accounts Filed
19/09/2017	New Accounts Filed
21/05/2017	Payment Data Update Received
01/05/2017	Confirmation Statement
01/10/2016	New Accounts Filed
01/10/2016	New Accounts Filed
29/04/2016	Annual Returns
08/09/2015	New Accounts Filed
08/09/2015	New Accounts Filed
04/08/2015	Payment Data Update Received
24/04/2015	Annual Returns
30/08/2014	New Accounts Filed
30/08/2014	New Accounts Filed
22/04/2014	Annual Returns
20/08/2013	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 StructureFull

No Group Structure

Mortgage Details

Mortgage Type:	DEBENTURE
Date Charge Created:	11/11/05
Date Charge Registered:	15/11/05
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Previous Director/Company Secretaries

Name	Current Active Appointments			Previous Appointments	Dissolved Companies
David Chee	21			10	145
Helen Pope	0			3	1
ELK (NOMINEES) LIMITED	1			587	5114
ELK COMPANY SECRETARIES LIMITED	2			610	5384
Total Persons With Significant Control		1	Total Statements			0
Active		1	Active			0
Ceased		0	Ceased			0

Active Persons With Significant Control

Name	Mr Ronnie Hanan	Kind	Individual Person With Significant Control
Address	16 Hall Road, St Johns Wood, London	Country Of Residence	United Kingdom
Post Code	NW8 9RB	Nationality	British
Date of Birth	10/1962	Notified On	06/04/2016
Nature Of Control	Ownership Of Shares 75 To 100 Percent,Voting Rights 75 To 100 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 66.61
UK Pound	1	INR 90.60
Euro	1	INR 79.85
GBP	1	INR 90.68

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

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	TPT

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)

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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.