MIRA
INFORM REPORT
|
Report Date : |
12.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
WILSON
IMPORTS LIMITED |
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Registered Office : |
Wilson
Business Park, 1 Queen Elizabeth Avenue, Glasgow, G52 4NQ |
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Country : |
United
Kingdom |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
20/10/1994 |
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Com. Reg. No.: |
SC153737 |
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Legal Form : |
Private
Limited |
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Line of Business : |
Importers
and wholesale of fashion clothing. |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
Status : |
In
default |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Identification Details
|
Subject
Reported on |
WILSON
IMPORTS LIMITED |
|
Address
|
1
QUEEN ELIZABETH AVENUE, GLASGOW, LANARKSHIRE, G52 4NQ. |
|
Telephone
|
0141
810 1050 |
Creditline
Recommendations
|
Monthly
Credit Guide |
GBP 0 |
|
Risk
Category |
HIGH RISK |
Official Company Data
|
Legal
Form |
Private
Limited |
|
Registration
Number |
SC153737 |
|
VAT
Number |
GB652947996 |
|
Date
of Incorporation |
20/10/1994 |
|
Registered
Office |
WILSON
BUSINESS PARK, 1 QUEEN ELIZABETH AVENUE, GLASGOW, G52 4NQ. |
|
History |
3/11/2004 : The
Registered Office address changed from 54 COOK STREET, GLASGOW, G5 8JN. |
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Previously located at 54
Cook Street, Glasgow, Lanarkshire, G5 8JW. |
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1/11/2000 : The
Registered Office address changed from 22 JAMAICA STREET, GLASGOW, G1 4QA. |
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26/10/1994 : The
Registered Office address changed from 82 MITCHELL STREET, GLASGOW. |
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Date
of Last Annual Return to Registry |
20/10/2006 |
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Accounts
|
The
last filed accounts at Companies House are those to 31/12/2004 |
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Accounting
Reference Date |
31/12 |
Operations
|
Activities |
Importers
and wholesale of fashion clothing. |
|
Nace
Code |
5142 |
|
Premises |
Owned,Offices,Warehouse |
|
Staff
Employed |
40 |
|
Import
Countries |
ALL
OVER THE WORLD |
|
Export
Countries |
No
Export Activity |
|
Auditors |
Grant
Thornton UK LLP |
|
Subsidiaries |
ALIPES 61 |
Public Record
Information
|
Summary
of CCJ's/Scottish Decrees |
|
No CCJs/Scottish Decrees are recorded in
our file. |
Summary of Mortgages,
Charges and Satisfactions
|
Total
Number of Mortgages/Charges Registered |
1 |
|
Number
Outstanding |
1 |
|
Number
Partially Satisfied |
0 |
|
Number
Satisfied |
0 |
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|
Date
of Latest Mortgage Created |
31/03/1995 |
Details of most
recent Mortgages, Charges and Satisfactions
|
Date
Fully Satisfied
|
Date |
Date |
Charge |
Form
Type |
Lender |
|
|
04/04/1995 |
31/03/1995 |
Bond
Floating Charge |
410 |
Midland
Bank Plc |
|
It
should be noted that there is no legal requirement to file satisfaction
details of mortgages/charges at Companies House. |
Other Filings and
Notices
|
Date |
Source |
Description |
|
18/05/1995 |
Companies
House Gazette |
Change
among the directors of a company |
|
03/11/1994 |
Companies
House Gazette |
Change
among the directors of a company |
|
26/10/1994 |
Companies
House Gazette |
Change
among the directors of a company |
Company Secretary
|
Secretary |
MAUREEN WILSON |
|
Address |
15
BUCHANAN STREET, MILNGAVIE, GLASGOW, G62 8AW. |
|
Country
of Origin |
UNITED
KINGDOM |
|
Date
of Birth |
28/05/1953 |
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Appointment
Date |
31/10/1994 |
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Other
Directorships |
IAIN
WILSON PROPERTIES LIMITED, IAIN WILSON HOLDINGS LIMITED |
Directors
|
Director |
MAUREEN WILSON |
|
Address |
15
BUCHANAN STREET, MILNGAVIE, GLASGOW, G62 8AW. |
|
Country
of Origin |
UNITED
KINGDOM |
|
Date
of Birth |
28/05/1953 |
|
Appointment
Date |
31/10/1994 |
|
Other
Directorships |
IAIN
WILSON PROPERTIES LIMITED, IAIN WILSON HOLDINGS LIMITED |
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|
|
|
Address |
15
BUCHANAN STREET, MILNGAVIE, GLASGOW, G62 8AW. |
|
Country
of Origin |
UNITED
KINGDOM |
|
Date
of Birth |
23/09/1953 |
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Appointment
Date |
20/10/1994 |
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Other
Directorships |
IAIN
WILSON PROPERTIES LIMITED, IAIN WILSON HOLDINGS LIMITED, CAESAR'S
TURF & SPORTS BETTING LIMITED, CONCEPT
BRAND MANAGEMENT 2005 LIMITED |
Share Capital
|
Shares |
Ordinary
GBP 1.00 |
|
Issued
Number |
2 |
|
Principal
Shareholder |
2 Iain
Wilson Holdings Ltd |
|
The
above reflects the principle shareholder(s) by number of shares held,
irrespective of share classification type. |
|
Holding
Company |
IAIN
WILSON HOLDINGS LIMITED |
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Ultimate
Parent |
IAIN
WILSON HOLDINGS LIMITED |
Payment Analysis
|
(
No Payment Analysis Data is Available ) |
General Information
|
06/12/2006 |
|
We
were informed by Companies House that the subject is late filing their
31/12/2005 accounts which were due by 31/10/2006 The subject is now in
default. |
Financial Data
|
Profit and Loss |
|
The
following figures are shown in units of 1000 |
|
Number
of Weeks |
52 |
52 |
52 |
52 |
|
Accounts
Date |
31/12/2004 |
31/12/2003 |
31/12/2002 |
31/12/2001 |
|
Currency
|
GBP |
GBP |
GBP |
GBP |
|
SALES |
17430 |
16157 |
10068 |
8115 |
|
Cost
of goods sold |
13652 |
13058 |
7963 |
6567 |
|
GROSS
PROFIT |
3778 |
3099 |
2105 |
1548 |
|
Wages
and Salaries |
1184 |
1494 |
602 |
412 |
|
Directors
Emoluments |
816 |
995 |
215 |
138 |
|
Auditors
Fees |
26 |
23 |
22 |
16 |
|
Non-Audit
Fees |
|
10 |
7 |
|
|
Trading
Profit |
1208 |
713 |
629 |
92 |
|
Depreciation |
10 |
5 |
5 |
16 |
|
OPERATING
PROFIT |
1198 |
708 |
624 |
76 |
|
Non
Trading Income |
3 |
7 |
4 |
(10) |
|
Interest
Payable |
339 |
367 |
237 |
235 |
|
PRE
TAX PROFIT |
862 |
348 |
391 |
(169) |
|
Taxation |
358 |
108 |
131 |
(21) |
|
PROFIT
AFTER TAX |
504 |
240 |
260 |
(148) |
|
RETAINED
PROFITS |
504 |
240 |
260 |
(148) |
|
Balance Sheet |
|
The
following figures are shown in units of 1000 |
|
Number
of Weeks |
52 |
52 |
52 |
52 |
|
Accounts
Date |
31/12/2004 |
31/12/2003 |
31/12/2002 |
31/12/2001 |
|
Currency
|
GBP |
GBP |
GBP |
GBP |
|
TOTAL
FIXED ASSETS |
207 |
13 |
15 |
56 |
|
Tangible
Assets |
80 |
13 |
15 |
56 |
|
Fixed
Assets |
80 |
13 |
15 |
46 |
|
Intermediate
assets |
|
|
|
10 |
|
Intangible
Assets |
127 |
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|
|
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TOTAL
CURRENT ASSETS |
4039 |
3081 |
1604 |
3177 |
|
Trade
debtors |
935 |
786 |
637 |
2351 |
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Stocks |
2003 |
1413 |
666 |
489 |
|
Other
Current Assets |
1101 |
882 |
301 |
337 |
|
Misc
Current Assets |
141 |
166 |
41 |
253 |
|
Due
From Group |
724 |
244 |
252 |
82 |
|
Cash |
236 |
472 |
8 |
2 |
|
TOTAL
ASSETS |
4246 |
3094 |
1619 |
3233 |
|
TOTAL
CURRENT LIABILITIES |
2873 |
2224 |
990 |
2863 |
|
Trade
creditors |
761 |
1132 |
566 |
517 |
|
Short
Term Loans |
272 |
|
|
1986 |
|
Bank
Overdraft |
|
|
|
246 |
|
Other
Finance |
|
|
|
1740 |
|
Due To
Directors |
272 |
|
|
|
|
Other
Liabilities |
1840 |
1092 |
424 |
360 |
|
WORKING
CAPITAL |
1166 |
857 |
614 |
314 |
|
NET
ASSETS/(LIABILITIES) |
1373 |
870 |
629 |
370 |
|
SHARE
CAPITAL + RESERVES |
1373 |
870 |
629 |
370 |
|
Profit
and Loss account |
1373 |
870 |
629 |
370 |
|
SHAREHOLDERS
FUNDS |
1373 |
870 |
629 |
370 |
|
CAPITAL
EMPLOYED |
1373 |
870 |
629 |
370 |
|
Financial Comparison |
|
The
following figures are shown in units of 1000 |
|
Number
of Weeks |
52 |
52 |
52 |
52 |
|
Accounts
Date |
31/12/2004 |
31/12/2003 |
31/12/2002 |
31/12/2001 |
|
Currency
|
GBP |
GBP |
GBP |
GBP |
|
Net
Cashflow from Oper. |
544 |
990 |
1015 |
(552) |
|
Increase
in Cash |
(236) |
464 |
711 |
(871) |
|
Directors
Remuneration |
816 |
995 |
215 |
138 |
|
Auditors
Remuneration |
26 |
23 |
22 |
16 |
|
Liquid
Assets |
1171 |
1258 |
645 |
2353 |
|
Net
Working Capital |
1166 |
857 |
614 |
314 |
|
Tangible
Net Worth(T.N.W) |
1246 |
870 |
629 |
370 |
|
Equity |
1373 |
870 |
629 |
370 |
|
Number
of Years Trading |
10 |
9 |
8 |
7 |
|
Number
of Employees |
25 |
21 |
19 |
17 |
|
Profit
per Employee |
34480 |
16571.4 |
20578.9 |
(9941.2) |
|
Sales
per Employee |
697200 |
769381 |
529894.7 |
477352.9 |
|
Key Credit Ratios |
|
The
following figures are shown as Ratios or Percentages |
|
Accounts Date |
31/12/2004 |
31/12/2003 |
31/12/2002 |
31/12/2001 |
|
Current
Ratio |
1.4 |
1.4 |
1.6 |
1.1 |
|
Pre
Tax Profit Margin% |
4.9 |
2.2 |
3.9 |
(2.1) |
|
Gross
Profit% |
21.7 |
19.2 |
20.9 |
19.1 |
|
Debtors
Days (D.S.O) |
20 |
18 |
23 |
106 |
|
Creditors
Days (D.P.O) |
16 |
26 |
21 |
23 |
|
Quick
Ratio |
0.7 |
0.8 |
0.9 |
0.9 |
|
W.I.P/Inventory
Days |
53.6 |
39.5 |
30.5 |
27.2 |
|
Return
on Investment% |
73 |
82.2 |
99.8 |
2.8 |
|
Return
on Assets% |
20.3 |
11.2 |
24.2 |
(5.2) |
|
T.N.W/Total
Assets% |
29.3 |
28.1 |
38.9 |
11.4 |
|
Return
on Capital% |
62.8 |
40 |
62.2 |
(45.7) |
|
Rtn
on Shareholders Funds% |
62.8 |
40 |
62.2 |
(45.7) |
|
Working
Capital/Sales% |
6.7 |
5.3 |
6.1 |
3.9 |
|
Borrowing
Ratio% |
21.8 |
|
|
536.8 |
|
Equity
Gearing% |
47.8 |
39.1 |
63.5 |
12.9 |
|
Stock
Turnover |
8.7 |
11.4 |
15.1 |
16.6 |
|
Days
Purchases Outstanding |
20.3 |
31.6 |
25.9 |
28.7 |
Key Industry Sector
Trends
|
Year
|
2006 |
2005 |
2004 |
2003 |
|
Sample
Size |
2437 |
11508 |
12279 |
12199 |
|
Pre-Tax
Profit Margin |
4.7 |
2.8 |
3.1 |
2.6 |
|
Current
Ratio |
1.9 |
1.6 |
1.6 |
1..6 |
|
Borrowing
Ratio |
64.8 |
62.8 |
61.9 |
60.1 |
|
Return
on Capital |
39.9 |
33.2 |
34.9 |
34.9 |
|
Creditors
Days |
54 |
65 |
74 |
69 |
|
Above
figures relate to companies in 1992 Standard Industry Classification (Nace)
sector : Wholesale of household goods |
Financial Summary
|
Auditors Qualification |
|
The Auditors have expressed a clean
opinion (i.e. unqualified with no referrals) on the accounts for the period
ended 31/12/2004. |
|
Turnover |
|
Turnover has increased from GBP 16,157,000
to GBP 17,430,000, a growth of 8 % in the period. |
|
Operating Profit |
|
Totalled GBP 1,198,000. In the year prior
a Profit of GBP 708,000 was achieved. |
|
Pre Tax Profit |
|
The subject's profit increased by 147 % in
the year. |
|
Working Capital |
|
The company's working capital has
increased by 36 % in the period. |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|