MIRA INFORM REPORT

Report No. :	506175
Report Date :	04.05.2018

IDENTIFICATION DETAILS

Name :	JAYROMA (LONDON) LIMITED
Formerly Known As :	NEAT FASHIONS LTD.
Registered Office :	90 Tottenham Court Road, London, W1T 4TJ
Country :	United Kingdom
Financials (as on) :	31.12.2016
Date of Incorporation :	29.10.1990
Com. Reg. No.:	02553033
Legal Form :	Private Limited with Share Capital
Line of Business :	Manufacture of Other Women's Outerwear
No. of Employees :	46 [2016]

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

Maximum Credit Limit :	£100,000 GBP
Status :	Moderate
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.

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

90 Tottenham Court Road
London
W1T 4TJ

Trading Address

90 Tottenham Court Road
London
W1T 4TJ

Website Address http://www.jayroma.co.uk

Company Number 02553033

Telephone Number 02070790400

Fax Number -

TPS No

FPS Yes

Incorporation Date 29/10/1990

Previous Name NEAT FASHIONS LTD.

Type Private Limited with Share Capital

FTSE Index -

Date of Change 04/07/1991

Filing Date of Accounts 21/07/2017

Currency GBP

Share Capital £62,777

SIC07 14132

Charity Number -

SIC07 Description Manufacture of other women's outerwear

Principal Activity The manufacture of ladieswear.

Credit Limit £100,000

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
31.12.2016	£22,400,443	-£237,842	£3,061,564	46
31.12.2015	£24,706,589	-£697,476	£3,298,874	45
31.12.2014	£25,417,628	£500,766	£3,900,473	47

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 Medium company.

This company's ratio of total liabilities to total assets indicates the presence of moderate equity funding.

This company's return on total assets employed ratio indicates a poor or negative return on assets.

This company's bank loans and overdrafts (less cash) account for a moderate percentage of short term liabilities.

This company trades in an industry with a lower 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	3	Total Current Secretaries	1
Total Previous Directors / Company Secretaries	9	Total Person's With Significant Control	1

Current Directors

Title	Ms	Function	Director
Name	Marcia Feldman	Nationality	British
Date of Birth	07/1944	Present Appointments	1
Latest Address	7 Portman Hall Old Redding, Harrow, Middlesex	Appointment Date	29/10/1991
Post Code	HA3 6SH
Title	Lord	Function	Director
Name	Andrew Simon Feldman	Nationality	British
Date of Birth	02/1966	Present Appointments	6
Latest Address	18 Norland Square, London	Appointment Date	29/10/1991
Post Code	W11 4PX

Title	Mr	Function	Director
Name	Dion Alexander Barton Luyk	Nationality	British
Date of Birth	11/1965	Present Appointments	1
Latest Address	90 Tottenham Court Road, London	Appointment Date	02/04/2012
Post Code	W1T 4TJ

Current Company Secretary

Title	Lord	Function	Company Secretary
Name	Andrew Simon Feldman	Nationality	British
Date of Birth	02/1966	Present Appointments	6
Latest Address	18 Norland Square, London	Appointment Date	12/03/2008
Post Code	W11 4PX

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
ANDREW SIMON FELDMAN	GBP	59,444	ORDINARY	1	94.69
DEBORAH WULFSOHN	GBP	3,333	ORDINARY	1	5.31

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	£22,400,443	-9.3%	£24,706,589	-2.8%	£25,417,628	-15.5%	£30,070,485	-9.1%	£33,083,710
	Export	£1,109,002	3.1%	£1,075,874	-50.9%	£2,190,433	-44.7%	£3,960,184	-33.4%	£5,948,975
	Cost of Sales	£20,203,596	-6.2%	£21,529,572	-3.1%	£22,220,706	-18.3%	£27,202,230	-9.7%	£30,121,450
	Gross Profit	£2,196,847	-30.9%	£3,177,017	-0.6%	£3,196,922	11.5%	£2,868,255	-3.2%	£2,962,260
	Wages & Salaries	£3,025,692	2.3%	£2,958,283	5.1%	£2,814,989	1.4%	£2,775,587	-1.6%	£2,819,563
	Directors Emoluments	£826,218	-9.9%	£917,148	-0.9%	£925,157	35.1%	£684,835	24.1%	£552,036
	Operating Profit	-£199,335	62.4%	-£530,542	-174.5%	£712,224	28.6%	£553,739	-22.4%	£713,239
	Depreciation	£92,882	19.4%	£77,764	29%	£60,291	-28.8%	£84,691	3.1%	£82,115
	Audit Fees	£20,000	2.6%	£19,500	8.3%	£18,000	-	-	-	£17,000
	Interest Payments	£38,507	-42.5%	£66,934	-39.9%	£111,458	-24.7%	£147,922	-12.6%	£169,237
	Pre Tax Profit	-£237,842	65.9%	-£697,476	-239.3%	£500,766	23.4%	£405,924	-25.6%	£545,383
	Taxation	£532	-99.4%	£95,877	197.1%	-£98,734	-182.3%	-£34,974	-	-
	Profit After Tax	-£237,310	60.6%	-£601,599	-249.6%	£402,032	8.4%	£370,950	-32%	£545,383
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-£237,310	60.6%	-£601,599	-249.6%	£402,032	8.4%	£370,950	-32%	£545,383

Balance Sheet

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
	Tangible Assets	£290,258	43.8%	£201,909	7.1%	£188,592	0.9%	£186,940	-0.8%	£188,390
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£290,258	43.8%	£201,909	7.1%	£188,592	0.9%	£186,940	-0.8%	£188,390
	Stock	£2,771,984	50.4%	£1,843,562	-25.5%	£2,475,233	-25.5%	£3,323,086	-0.4%	£3,335,531
	Trade Debtors	£6,060,032	32.3%	£4,580,669	-32.9%	£6,830,477	4.3%	£6,547,650	2.1%	£6,415,630
	Cash	£1,300	-93.2%	£19,169	132.4%	£8,250	-25.2%	£11,025	-69.4%	£36,045
	Other Debtors	£261,793	-39.9%	£435,481	137.5%	£183,360	-23.2%	£238,783	-4.2%	£249,231
	Miscellaneous Current Assets	£148,843	-	£148,843	-40.2%	£248,843	-16.7%	£298,843	-	£298,843
	Total Current Assets	£9,243,952	31.5%	£7,027,724	-27.9%	£9,746,163	-6.5%	£10,419,387	0.8%	£10,335,280
	Trade Creditors	£4,275,349	143.7%	£1,754,146	-26.5%	£2,387,341	-20%	£2,982,414	-12.7%	£3,414,704
	Bank Loans & Overdrafts	£1,691,793	17.2%	£1,442,997	-49.5%	£2,856,451	-24.8%	£3,799,783	8.7%	£3,497,028
	Other Short Term Finance	0	-	0	-100%	£828	-92.9%	£11,740	297.6%	£2,953
	Miscellaneous Current Liabilities	£505,504	-31.1%	£733,616	-7.1%	£789,662	151.5%	£313,949	-27.2%	£431,494
	Total Current Liabilities	£6,472,646	64.7%	£3,930,759	-34.9%	£6,034,282	-15.1%	£7,107,886	-3.2%	£7,346,179
	Bank Loans & Overdrafts and LTL	£1,691,793	17.2%	£1,442,997	-49.5%	£2,856,451	-24.8%	£3,799,783	8.7%	£3,497,028
	Other Long Term Finance	0	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	0	-	0	-	0	-	0	-	0

Capital & Reserves

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
	Called Up Share Capital	£62,777	-	£62,777	-	£62,777	-	£62,777	-44.3%	£112,777
	P & L Account Reserve	£2,811,564	-7.8%	£3,048,874	-16.5%	£3,650,473	12.4%	£3,248,441	11%	£2,927,491
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	£187,223	-	£187,223	-	£187,223	-	£187,223	36.4%	£137,223
	Shareholder Funds	£3,061,564	-7.2%	£3,298,874	-15.4%	£3,900,473	11.5%	£3,498,441	10.1%	£3,177,491

Other Financial Items

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
	Net Worth	£3,061,564	-7.2%	£3,298,874	-15.4%	£3,900,473	11.5%	£3,498,441	10.1%	£3,177,491
	Working Capital	£2,771,306	-10.5%	£3,096,965	-16.6%	£3,711,881	12.1%	£3,311,501	10.8%	£2,989,101
	Total Assets	£9,534,210	31.9%	£7,229,633	-27.2%	£9,934,755	-6.3%	£10,606,327	0.8%	£10,523,670
	Total Liabilities	£6,472,646	64.7%	£3,930,759	-34.9%	£6,034,282	-15.1%	£7,107,886	-3.2%	£7,346,179
	Net Assets	£3,061,564	-7.2%	£3,298,874	-15.4%	£3,900,473	11.5%	£3,498,441	10.1%	£3,177,491

Cash Flow

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
	Net Cashflow from Operations	-£143,336	-108.5%	£1,681,122	54.6%	£1,087,474	999.9%	-£46,719	78.2%	-£214,689
	Net Cashflow before Financing	-£266,665	-118.7%	£1,424,373	51.4%	£940,557	438.6%	-£277,775	23.4%	-£362,718
	Net Cashflow from Financing	-	-	-	-	-	100%	-£50,000	-	-
	Increase in Cash	-£266,665	-118.7%	£1,424,373	51.4%	£940,557	387%	-£327,775	9.6%	-£362,718

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	£3,061,564	-7.2%	£3,298,874	-15.4%	£3,900,473	11.5%	£3,498,441	10.1%	£3,177,491
	Number of Employees	46	2.2%	45	-4.3%	47	-11.3%	53	-3.6%	55
	Accountants
	Auditors	H W FISHER & CO
	Auditor Comments	The audit report contains no adverse comments
	Bankers	BARCLAYS BANK PLC
	Bank Branch Code	20-00-00

Ratios

	Date Of Accounts	31/12/16	31/12/15	31/12/14	31/12/13	31/12/12
	Pre-tax profit margin %	-1.06	-2.82	1.97	1.35	1.65
	Current ratio	1.43	1.79	1.62	1.47	1.41
	Sales/Net Working Capital	8.08	7.98	6.85	9.08	11.07
	Gearing %	55.30	43.70	73.20	108.60	110.10
	Equity in %	32.10	45.60	39.30	33	30.20
	Creditor Days	69.47	25.84	34.18	36.10	37.56
	Debtor Days	98.47	67.48	97.81	79.25	70.58
	Liquidity/Acid Test	0.99	1.31	1.20	0.99	0.95
	Return On Capital Employed %	-7.76	-21.14	12.83	11.60	17.16
	Return On Total Assets Employed %	-2.49	-9.64	5.04	3.82	5.18
	Current Debt Ratio	2.11	1.19	1.54	2.03	2.31
	Total Debt Ratio	2.11	1.19	1.54	2.03	2.31
	Stock Turnover Ratio %	12.37	7.46	9.73	11.05	10.08
	Return on Net Assets Employed %	-7.76	-21.14	12.83	11.60	17.16

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
15/03/2018	Ms G.J. Gourgey has left the board
09/11/2017	Confirmation Statement
03/08/2017	New Accounts Filed
03/08/2017	New Accounts Filed
09/11/2016	Annual Returns
04/09/2016	New Accounts Filed
04/09/2016	New Accounts Filed
31/03/2016	Mr M.R. Feldman has left the board
23/11/2015	Annual Returns
10/04/2015	New Accounts Filed
10/04/2015	New Accounts Filed
08/11/2014	Annual Returns
21/03/2014	New Accounts Filed
27/11/2013	Annual Returns
06/08/2013	Mr J.S. Freedman has left the board

Previous Company Names

Date	Previous Name
04/07/1991	NEAT FASHIONS LTD.

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:	10/10/91
Date Charge Registered:	30/10/91
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS 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
Gabrielle Josephine Gourgey	1			3	1
Jonathan Sydney Freedman	7			15	91
Malcolm Roger Feldman	0			2	3
Monica Grimsey	0			1	2
Alan Lawrence Sharpstone	0			1	2
Jonathan Paul Feldman	5			4	8
BEDFORD ROW REGISTRARS LIMITED	3			24	48
John Christopher Cotter	0			3	1
John Christopher Cotter	0			3	1
Total Persons With Significant Control		1	Total Statements			0
Active		1	Active			0
Ceased		0	Ceased			0

Active Persons With Significant Control

Name	Lord Andrew Simon Feldman	Kind	Individual Person With Significant Control
Address	90 Tottenham Court Road, London	Country Of Residence	United Kingdom
Post Code	W1T 4TJ	Nationality	British
Date of Birth	02/1966	Notified On	06/04/2016
Nature Of Control	Ownership Of Shares 75 To 100 Percent,Voting Rights 75 To 100 Percent,Right To Appoint And Remove Directors

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 90.53

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

INFORMATION DETAILS

Analysis Done by :	VAR
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.