MIRA INFORM REPORT

Report No. :	507136
Report Date :	09.05.2018

IDENTIFICATION DETAILS

Name :	WARREN JAMES (JEWELLERS) LIMITED
Formerly Known As :	SOLOMADE LIMITED
Registered Office :	7 Merseyway Stockport Sk1 1pn
Country :	United Kingdom
Financials (as on) :	31.03.2017
Date of Incorporation :	21.06.1979
Com. Reg. No.:	01432090
Legal Form :	Private limited with Share Capital
Line of Business :	· Other Retail Sale Of New Goods In Specialised Stores (Not Commercial Art Galleries And Opticians · Retail jewellers
No. of Employees :	1451

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 :	No Complaints
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: WARREN JAMES (JEWELLERS) LIMITED

Company No: 01432090

Registered Address: 7 MERSEYWAY STOCKPORT SK1 1PN

Company Summary

Registered Address 7 MERSEYWAY
STOCKPORT
SK1 1PN

Trading Address 7 Merseyway
Stockport
Cheshire
SK1 1PN

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

Telephone Number 01442266166

Fax Number

TPS No

FPS Yes

Incorporation Date 21/06/1979

Previous Name SOLOMADE LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 31/12/1979

Filing Date of Accounts 14/12/2017

Currency GBP

Share Capital £100,000

SIC07 47789

Charity Number -

SIC07 Description OTHER RETAIL SALE OF NEW GOODS IN SPECIALISED STORES (NOT COMMERCIAL ART GALLERIES AND OPTICIANS)

Principal Activity Retail jewellers.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company WJH LIMITED

Accountant -

Mortgages 3

Group 2 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

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

31/03/2017 £117,201,000 £42,689,000 £93,036,000 1451

31/03/2016 £101,318,000 £37,981,000 £59,219,000 1374

31/03/2015 £93,613,000 £36,667,000 £148,459,000 1062

Mortgage Summary

Total Mortgage 3

Outstanding 1

Satisfied 2

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

This company's return on total assets employed ratio indicates a highly efficient use of assets.

This company has made late payments on a medium percentage of invoices.

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

The company has more cash than short term bank borrowings.

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

Show More

Total Current Directors	2	Total Current Secretaries	1
Total Previous Directors / Company Secretaries	0	Total Person's With Significant Control	1

Current Directors

Title	Ms	Function	Director
Name	Ann Jones	Nationality	British
Date of Birth	02/1954	Present Appointments	15
Latest Address	7 Merseyway, Stockport, Cheshire	Appointment Date	14/11/1991
Post Code	SK1 1PN
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report
Title	Mr	Function	Director
Name	John Coulter	Nationality	British
Date of Birth	11/1951	Present Appointments	8
Latest Address	7 Merseyway, Stockport, Cheshire	Appointment Date	14/11/1991
Post Code	SK1 1PN
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report

Current Company Secretary

Title	Ms	Function	Company Secretary
Name	Ann Jones	Nationality	British
Date of Birth	02/1954	Present Appointments	19
Latest Address	7 Merseyway, Stockport, Cheshire	Appointment Date	14/11/1991
Post Code	SK1 1PN
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
WJH LTD	GBP	100,000	ORDINARY	1	100
1

Financials

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	£117,201,000	15.7%	£101,318,000	8.2%	£93,613,000	27.1%	£73,630,000	25.6%	£58,606,000
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	£63,980,000	20.7%	£53,022,000	12.8%	£47,015,000	19.1%	£39,479,000	6.1%	£37,194,000
	Gross Profit	£53,221,000	10.2%	£48,296,000	3.6%	£46,598,000	36.4%	£34,151,000	59.5%	£21,412,000
	Wages & Salaries	£21,471,000	18.4%	£18,136,000	21%	£14,985,000	24%	£12,080,000	6.8%	£11,310,000
	Directors Emoluments	£245,000	3.8%	£236,000	3.1%	£229,000	4.1%	£220,000	-32.1%	£324,000
	Operating Profit	£42,530,000	12.6%	£37,770,000	3.8%	£36,375,000	39.5%	£26,081,000	54%	£16,937,000
	Depreciation	£2,578,000	103.3%	£1,268,000	-10.3%	£1,414,000	206.7%	£461,000	38.4%	£333,000
	Audit Fees	£19,000	11.8%	£17,000	-	£17,000	-	£17,000	13.3%	£15,000
	Interest Payments	-	-100%	£2,000	-	£2,000	-95.6%	£45,000	999.9%	£2,000
	Pre Tax Profit	£42,689,000	12.4%	£37,981,000	3.6%	£36,667,000	39.7%	£26,239,000	53.4%	£17,109,000
	Taxation	-£8,872,000	-22.9%	-£7,221,000	10.2%	-£8,041,000	-25.5%	-£6,406,000	-53.3%	-£4,180,000
	Profit After Tax	£33,817,000	9.9%	£30,760,000	7.5%	£28,626,000	44.3%	£19,833,000	53.4%	£12,929,000
	Dividends Payable	-	-100%	£120,000,000	-	-	-	-	-	-
	Retained Profit	£33,817,000	137.9%	-£89,240,000	-411.7%	£28,626,000	44.3%	£19,833,000	53.4%	£12,929,000

Balance Sheet

	Date Of Accounts	31/03/17	(%)	31/03/16	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	Tangible Assets	£28,221,000	3.1%	£27,361,000	15.6%	£23,661,000	27.1%	£18,611,000	2.6%	£18,147,000
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£28,221,000	3.1%	£27,361,000	15.6%	£23,661,000	27.1%	£18,611,000	2.6%	£18,147,000
	Stock	£11,322,000	24.8%	£9,071,000	-35.7%	£14,118,000	35.1%	£10,450,000	-4%	£10,890,000
	Trade Debtors	0	-100%	£1,814,000	999.9%	£1,000	-99%	£100,000	-	0
	Cash	£84,331,000	305.7%	£20,785,000	-41%	£35,252,000	3.8%	£33,962,000	145.4%	£13,839,000
	Other Debtors	£57,640,000	-55.9%	£130,694,000	45.2%	£89,988,000	23.6%	£72,778,000	3.5%	£70,338,000
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£153,293,000	-5.6%	£162,364,000	16.5%	£139,359,000	18.8%	£117,290,000	23.4%	£95,067,000
	Trade Creditors	£1,158,000	-17.7%	£1,407,000	184.8%	£494,000	-	0	-100%	£285,000
	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
	Other Short Term Finance	0	-	0	-100%	£5,178,000	-34.4%	£7,896,000	-24.2%	£10,420,000
	Miscellaneous Current Liabilities	£87,320,000	-32.4%	£129,099,000	999.9%	£8,889,000	8.8%	£8,172,000	225.7%	£2,509,000
	Total Current Liabilities	£88,478,000	-32.2%	£130,506,000	796.3%	£14,561,000	-9.4%	£16,068,000	21.6%	£13,214,000
	Bank Loans & Overdrafts and LTL	0	-	0	-	0	-	0	-	0
	Other Long Term Finance	0	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	0	-	0	-	0	-	0	-	0

.

Capital & Reserves

	Date Of Accounts	31/03/17	(%)	31/03/16	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	Called Up Share Capital	£100,000	-	£100,000	-	£100,000	-	£100,000	-	£100,000
	P & L Account Reserve	£92,936,000	57.2%	£59,119,000	-60.2%	£148,359,000	23.9%	£119,733,000	19.9%	£99,900,000
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£93,036,000	57.1%	£59,219,000	-60.1%	£148,459,000	23.9%	£119,833,000	19.8%	£100,000,000

Other Financial Items

	Date Of Accounts	31/03/17	(%)	31/03/16	(%)	31/03/15	(%)	31/03/14	(%)	31/03/13
	Net Worth	£93,036,000	57.1%	£59,219,000	-60.1%	£148,459,000	23.9%	£119,833,000	19.8%	£100,000,000
	Working Capital	£64,815,000	103.4%	£31,858,000	-74.5%	£124,798,000	23.3%	£101,222,000	23.7%	£81,853,000
	Total Assets	£181,514,000	-4.3%	£189,725,000	16.4%	£163,020,000	20%	£135,901,000	20%	£113,214,000
	Total Liabilities	£88,478,000	-32.2%	£130,506,000	796.3%	£14,561,000	-9.4%	£16,068,000	21.6%	£13,214,000
	Net Assets	£93,036,000	57.1%	£59,219,000	-60.1%	£148,459,000	23.9%	£119,833,000	19.8%	£100,000,000

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	£93,036,000	57.1%	£59,219,000	-60.1%	£148,459,000	23.9%	£119,833,000	19.8%	£100,000,000
	Number of Employees	1451	5.6%	1374	29.4%	1062	21%	878	6%	828
	Accountants
	Auditors	RSM UK AUDIT LLP
	Auditor Comments	The audit report contains no adverse comments
	Bankers	CO-OPERATIVE 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 %	36.42	37.49	39.17	35.64	29.19
	Current ratio	1.73	1.24	9.57	7.30	7.19
	Sales/Net Working Capital	1.81	3.18	0.75	0.73	0.72
	Gearing %	0	0	0	0	0
	Equity in %	51.30	31.20	91.10	88.20	88.30
	Creditor Days	3.59	5.05	1.92	-	1.77
	Debtor Days	-	6.51	-	0.49	-
	Liquidity/Acid Test	1.60	1.17	8.60	6.64	6.37
	Return On Capital Employed %	45.88	64.13	24.69	21.89	17.10
	Return On Total Assets Employed %	23.51	20.01	22.49	19.30	15.11
	Current Debt Ratio	0.95	2.20	0.09	0.13	0.13
	Total Debt Ratio	0.95	2.20	0.09	0.13	0.13
	Stock Turnover Ratio %	9.66	8.95	15.08	14.19	18.58
	Return on Net Assets Employed %	45.88	64.13	24.69	21.89	17.10

Status history

Date	Description
31/01/2017	Winding up Petition Dismissed
27/01/2017	Petitions Winding-Up (Unadvertised)

Event History View Documents

Date	Description
30/12/2017	Confirmation Statement
22/12/2017	New Accounts Filed
22/12/2017	New Accounts Filed
31/01/2017	Payment Data Update Received
13/01/2017	Annual Returns
12/01/2017	New Accounts Filed
12/01/2017	New Accounts Filed
14/01/2016	New Accounts Filed
14/01/2016	New Accounts Filed
20/12/2015	Annual Returns
19/01/2015	New Accounts Filed
19/01/2015	New Accounts Filed
17/12/2014	Annual Returns
03/01/2014	Annual Returns
23/12/2013	New Accounts Filed

Previous Company Names

Date	Previous Name
31/12/1979	SOLOMADE LIMITED

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	WJH LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	WJH LIMITED

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
WJH LIMITED	05401658	31.03.2017	Y	£117,200,000
WARREN JAMES (JEWELLER...	01432090	31.03.2017	N	£117,201,000

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Mortgage Details

Mortgage Type:
Date Charge Created:	02/09/14
Date Charge Registered:	10/09/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	THE ROYAL BANK OF SCOTLAND PLC;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS NEGATIVEPLEDGE.
Mortgage Type:	DEBENTURE
Date Charge Created:	10/11/93
Date Charge Registered:	16/11/93
Date Charge Satisfied:	20/01/07
Status:	SATISFIED
Person(s) Entitled:	THE CO-OPERATIVE 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

Mortgage Type:	DEBENTURE
Date Charge Created:	08/07/87
Date Charge Registered:	15/07/87
Date Charge Satisfied:	07/01/95
Status:	SATISFIED
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

No Previous Director Details
Total Persons With Significant Control	1	Total Statements	0
Active	1	Active	0
Ceased	0	Ceased	0

Active Persons With Significant Control

Name	Wjh Limited	Kind	Corporate Entity With Significant Control
Address	7 Merseyway, Stockport	Notified On	06/04/2016
Post Code	SK1 1PN	Legal Form	Limited By Shares
Authority	Uk Companies Act	Place Registered	England And Wales
Country Registered	England	Registration Number	05401658
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

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.77
UK Pound	1	INR 90.58
Euro	1	INR 79.97
GBP	1	INR 90.44

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

INFORMATION DETAILS

Analysis Done by :	PRI
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.