MIRA
INFORM REPORT
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Report Date : |
19.07.2007 |
IDENTIFICATION DETAILS
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Name : |
GRABAL ALOK ( |
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Registered Office : |
Tureck House, |
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Country : |
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Financials (as on) : |
01.04.2006 |
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Date of Incorporation : |
04/07/2001 |
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Com. Reg. No.: |
04246489 |
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Legal Form : |
Private Limited |
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Line of Business : |
Engaged in the retail of clothing. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
Company Identification Details
Subject Reported
on GRABAL ALOK (
Address TURECK HOUSE,
Telephone 0121 705 8286
Email qsplc@qsgroup.co.uk
Web Address www.qsgroup.co.uk
Creditline Recommendations
Monthly Credit
Guide GBP 0
Risk Category HIGH
RISK
Official Company Data
Legal Form Private Limited
Registration
Number 04246489
Date of
Incorporation 04/07/2001
Registered Office TURECK HOUSE,
History 2/04/2007 : Change
of name from HAMSARD 2353 LIMITED.
8/08/2006 : The
Registered Office address changed from TURECK HOUSE
7/07/2006 : The
Registered Office address changed from HARBOUR HOUSE, 121
Previously located
at HARBOUR HOUSE,
The following
information was obtained from CORPORATE VOLUNTARY
ARRANGEMENT
dated 28/03/2006 : COMPANIES HOUSE
12/11/2002 : The
Registered Office address changed from YORKSHIRE HOUSE,
12/09/2002 : The
Registered Office address changed from RUTLAND HOUSE 148
Date of Last
Annual
Return to Registry
04/07/2006
Accounts The last filed
accounts at Companies House are those to 01/04/2006
Accounting
Reference
Date 01/04
Operations
Activities A group engaged in
the retail of clothing.
Nace Code 5242
Premises Owned, Offices,
Shop, Warehouse
Staff Employed 1,294
Trade Names QS
FAMILYWEAR, QS
Import Countries ALL OVER THE WORLD
Export Countries No Export Activity
Bankers BARCLAYS BANK PLC
Address
Sort Code 201275
Auditors Baker Tilly
Branches 205 STORES IN THE
Subsidiaries BE WISE GROUP
LIMITED
BE-WISE LIMITED
BEWISE CARD
HANDLING SERVICES LIMITED
QS (WEST) LIMITED
QS GROUP PLC
QS PLC
QS PROPERTIES
LIMITED
STATIONERY EXPRESS
RETAIL LIMITED
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 8
Number Outstanding
7
Number Partially
Satisfied 0
Number Satisfied 1
Date of Latest
Mortgage Created 02/06/2006
Date of Latest
Satisfaction 10/02/2006
Details of most
recent Mortgages,
Charges and
Satisfactions
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Date Fully |
Date |
Date |
Charge |
Form Type |
Lender |
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21/06/2006 |
25/02/2003 |
Composite Debenture And Guarantee |
400 |
Barclays Bank Plc |
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21/06/2006 |
04/05/2005 |
Guarantee Debenture |
400 |
Whittals Wines Limited Acting As Security Trustee
On Behalf |
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14/06/2006 |
04/10/2003 |
Supplemental Deed To A Composite Guarantee
And Debenture Dated.... |
400 |
Barclays Bank Plc |
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14/06/2006 |
25/02/2003 |
Composite Guarantee And Debenture |
400 |
Barclays Bank Plc |
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08/06/2006 |
02/06/2006 |
Supplemental Legal Charge |
395 |
Barclays Bank Plc |
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13/05/2005 |
04/05/2005 |
Guarantee Debenture |
395 |
Whittalls Wines Limited As Security
Trustee On Behalf Of The |
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28/02/2003 |
25/02/2003 |
Composite Guarantee And Debenture |
395 |
Barclays Bank Plc |
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10/02/2006 |
08/10/2002 |
25/09/2002 |
Debenture |
395 |
Svenska Handelsbanken Ab (Publ) |
It should be noted
that there is no legal requirement to file satisfaction details of
mortgages/charges at Companies House.
Other Filings and
Notices
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Date |
Source |
Description |
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22/05/2007 |
Companies House Gazette |
Change among the directors of a company |
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20/04/2007 |
Companies House Gazette |
Change among the directors of a company |
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14/04/2007 |
Companies House Gazette |
Change among the directors of a company |
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15/03/2007 |
Companies House Gazette |
Change among the directors of a company |
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02/03/2007 |
Companies House Gazette |
Change among the directors of a company |
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04/01/2007 |
Companies House Gazette |
Special resolutions passed under section
95 disapplication of pre-emption rights |
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04/01/2007 |
Companies House Gazette |
Resolutions which give, vary, revoke or
renew an authority for the purposes of section 80 |
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04/01/2007 |
Companies House Gazette |
Alteration in memorandum or articles of
association |
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24/10/2006 |
Companies House Gazette |
Change among the directors of a company |
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03/08/2006 |
Companies House Gazette |
Change among the directors of a company |
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13/07/2006 |
Companies House Gazette |
Change among the directors of a company |
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27/06/2006 |
Companies House Gazette |
Special resolutions passed under section
95 disapplication of pre-emption rights |
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27/06/2006 |
Companies House Gazette |
Resolutions which give, vary, revoke or
renew an authority for the purposes of section 80 |
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27/06/2006 |
Companies House Gazette |
Alteration in memorandum or articles of
association |
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17/06/2006 |
Companies House TCD |
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17/06/2006 |
Companies House Gazette |
Companies House no longer advises
inspection of company |
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13/06/2006 |
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Meeting of Creditors |
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06/06/2006 |
Companies House Gazette |
Change among the directors of a company |
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01/04/2006 |
Companies House Gazette |
Voluntary arrangement |
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15/03/2006 |
Companies House Gazette |
Resolutions which give, vary, revoke or
renew an authority for the purposes of section 80 |
Company Secretary
Secretary MARK JOHN
JAMES LITTLE
Address FARRINGFORD,
Country of Origin UNITED KINGDOM
Date of Birth 11/11/1965
Appointment Date 02/01/2007
Other Directorships KANDIES
LIMITED, GLEBELION LIMITED, QS PROPERTIES LIMITED,
PRESTONTOR
LIMITED, TREASURED PALS REALISATIONS
LIMITED, PAPERWAX
LIMITED, XCESS PROPERTY LIMITED, GCG HOLDINGS
LTD, TRUMP
GREETINGS LIMITED, JOHN WADDINGTON GREETINGS CARDS
LIMITED, CWL
REALISATIONS LIMITED, CARD WAREHOUSE EBT
LIMITED, BEWISE
CARD HANDLING SERVICES LIMITED
Directors
Director RANGASWAMY NARAYAN
Address
Country of Origin
Date of Birth 26/09/1950
Appointment Date 14/12/2006
Director ASHOK JIWRAJKA
Address
Country of Origin
Date of Birth 07/10/1950
Appointment Date 14/12/2006
Accountant ANUPAM JHUNJHUNWALA
Address 33 WOODHOUSE
EAVES, NORTHWOOD,
Country of Origin
Date of Birth 09/10/1971
Appointment Date 02/02/2007
Director DILIP JIWRAJKA
Address
Country of Origin
Date of Birth 09/10/1956
Appointment Date 22/05/2006
Director DAVID PIDGEON
Address
Country of Origin UNITED KINGDOM
Date of Birth 05/05/1962
Appointment Date 05/03/2007
Accountant MARK JOHN
JAMES LITTLE
Address FARRINGFORD,
Country of Origin UNITED KINGDOM
Date of Birth 11/11/1965
Appointment Date 02/10/2006
Other Directorships KANDIES
LIMITED, GLEBELION LIMITED, QS PROPERTIES LIMITED, PRESTONTOR
LIMITED, TREASURED
PALS REALISATIONS LIMITED, PAPERWAX LIMITED,
XCESS
PROPERTY LIMITED, GCG HOLDINGS LTD, TRUMP GREETINGS
LIMITED, JOHN
WADDINGTON GREETINGS CARDS LIMITED, CWL REALISATIONS
LIMITED, CARD
WAREHOUSE EBT LIMITED, BEWISE CARD HANDLING SERVICES
LIMITED
Director ANTON WOODHOUSE
Address
Country of Origin UNITED KINGDOM
Date of Birth 31/05/1952
Appointment Date 27/06/2006
Other Directorships SOUND CONTROL
HOLDINGS LIMITED, HAWTIN PUBLIC LIMITED
COMPANY, NORFLEET
PROPERTIES (HOLDINGS) LIMITED, CHEADLEBRIDGE
PROPERTIES
LIMITED, TOKENPANEL LIMITED, PURABUILD LIMITED, THE
BUSENESS
TRADING COMPANY LIMITED, HAWTIN PARK DEVELOPMENTS
LIMITED
Director PRADIP
KHODIDAS DHAMECHA
Address 2 HATHAWAY CLOSE,
STANMORE,
Country of Origin UNITED KINGDOM
Date of Birth 07/12/1958
Appointment Date 30/08/2002
Other Directorships BE-WISE
LIMITED, QS PLC, QS PROPERTIES LIMITED,
PRODUCTS
LIMITED, QS GROUP PLC, BE WISE GROUP LIMITED, MEGNUM
PROPERTIES
LIMITED, QS (WEST) LIMITED, MILLRO PROPERTIES
LIMITED, BEWISE
CARD HANDLING SERVICES LIMITED, THE LOHANA
COMMUNITY
TRUST, MEGNUM LIMITED
Director KINGPAL
SINGH TATLA
Address
Country of Origin UNITED KINGDOM
Date of Birth 13/05/1950
Appointment Date 17/03/2003
Director
Address
Country of Origin UNITED KINGDOM
Date of Birth 11/12/1951
Appointment Date 01/11/2005
Other Directorships BE-WISE
LIMITED, QS PLC, QS PROPERTIES LIMITED, QS GROUP PLC, BE
WISE
GROUP
LIMITED, QS (WEST) LIMITED, BEWISE CARD HANDLING SERVICES
LIMITED
Director NARESH
KUMAR JERATH
Address 27 WOOLSINGTON
PARK SOUTH, WOOLSINGTON,
NE13
8BJ.
Country of Origin UNITED KINGDOM
Date of Birth 10/10/1961
Appointment Date 07/12/2005
Other Directorships BEBE CLOTHING CO.
LIMITED, WHITEGROVE ESTATES LIMITED, BEBE
INVESTMENTS
LIMITED, BEBE GROUP LIMITED, NORHAM HOUSE 1019
LIMITED, CONTOUR
CLOTHING LIMITED
Share Capital
Shares Ordinary GBP 0.01
each
Issued Number 51,901,091
Principal
Shareholder 13,511,617 Grabal
Alok International Ltd
10,367,356 Dhamecha
Foods Ltd
8,000,000 Raj
Chatha 2004 Family Trust
2,847,223 Bakerloo
Commercial Inc.
2,272,973 European
Food Brokers Ltd
2,272,973 Whittals
Wines Ltd
1,898,271 Norham
House 1019 Ltd
1,792,990 Dhothar
Investments Ltd
1,768,391 Wetherby
Fashions Ltd
1,517,602 Innis
Associates SA
The above reflects
the principle shareholder(s) by number of shares held, irrespective of share
classification type.
Payment Analysis
(No Payment Analysis Data is Available)
General Information
03/05/2007
The subject went into Administration on 09/02/2006. The subject came out
of Administration and went in Corporate Voluntary Arrangement on 28/03/2006.
Since that date, the debt of the subject has been cleared by a company styled
Alok Industries Limited, based in
07/06/2007
The subject went into Corporate Voluntary Arrangement (CVA) on the
28/03/2006. The practioner is MALCOLM SHIERSON of GRANT THORNTON at:
Financial Data
Profit and Loss
The following
figures are shown in units of 1000
Number of Weeks 61 52 53 13
Accounts Date 01/04/2006 29/01/2005 31/01/2004 25/01/2003
Consolidated Yes Yes
Currency GBP GBP GBP GBP
SALES 77307 73529 131392 21693
Cost of goods sold 87741 70278 114895 18993
GROSS PROFIT (10434) 3251 16497 2700
Wages and Salaries 16253 14269 20120 3181
Directors
Emoluments 627 521 691 85
Auditors Fees 70 35 70 40
Non-Audit Fees 17 8 25
Trading Profit (25811) (2509) 6557 784
Depreciation 2766 2201 3485 692
OPERATING PROFIT (28577) (4710) 3072 92
Non Trading Income (1696) (135) 6877
Interest Payable 1679 469 808 93
PRE TAX PROFIT (31952) (5179) 2129 6876
Taxation (357) 736 72
PROFIT AFTER TAX (31952) (4822) 1393 6804
RETAINED PROFITS (31952) (4822) 1393 6804
Balance Sheet
The following
figures are shown in units of 1000
Number of Weeks 61 52 53 13
Accounts Date 01/04/2006 29/01/2005 31/01/2004 25/01/2003
Consolidated Yes Yes
Currency GBP GBP GBP GBP
TOTAL FIXED ASSETS 14824 13942 37224 19118
Tangible Assets 13824 12142 32568 19118
Fixed Assets 10184 9310 32568 19118
Intermediate
assets 3640 2832
Intangible Assets 1000 1800 4656
TOTAL CURRENT
ASSETS 22400 32051 33390 15183
Stocks 11169 10271 25280 7371
Other Current
Assets 11231 21780 8110 7812
Misc Current
Assets 8686 4864 7490 2682
Due From Group 16803
Cash 2545 113 620 5130
TOTAL ASSETS 37224 45993 70614 34301
TOTAL CURRENT
LIABILITIES 45096 33192 39402 10917
Trade creditors 6091 12189 24804 6528
Short Term Loans 30566 16363 6916 900
Bank Overdraft 12242 5780 6171
Bank Loans 900
Other Finance 258 94 745
Due To Group 18066 10489
Other Liabilities 8439 4640 7682 3489
WORKING CAPITAL (22696) (1141) (6012) 4266
TOTAL LONG TERM
LIABS 6218 7439 9891 6955
Long Term Loans 6218 6719 8643 6600
Bank Loans 6600 6600 6600
Other Finance 218 119 2043
Due To Group 6000
Other Liabilities 720 1248 355
NET
ASSETS/(LIABILITIES) (14090) 5362 21321 16429
SHARE CAPITAL +
RESERVES (14090) 5362 21321 16429
Share Cap + Sundry
Res 28500 16000 13000 9500
Issued Share
Capital 52 15 12 10
Sundry Reserves 28448 15985 12988 9490
Profit and Loss
account (42590) (10638) 8321 6929
SHAREHOLDERS FUNDS (14090) 5362 21321 16429
CAPITAL EMPLOYED (7872) 12801 31212 23384
Financial
Comparison
The following
figures are shown in units of 1000
Number of Weeks 61 52 53 13
Accounts Date 01/04/2006 29/01/2005 31/01/2004 25/01/2003
Consolidated Yes Yes
Currency GBP GBP GBP GBP
Net Cashflow from
Oper. 1880 (5068) 5908 682
Increase in Cash (4030) (5837) (10681) 5130
Directors
Remuneration 627 521 691 85
Auditors
Remuneration 70 35 70 40
Liquid Assets 2545 113 620 5130
Net Working
Capital (22696) (1141) (6012) 4266
Long Term
Debt(>12 Months) 6218 6719 8643 6600
Other Deferred
Liabs 720 1248 355
Tangible Net
Worth(T.N.W) (15090) 3562 16665 16429
Equity (14090) 5362 21321 16429
Number of Years
Trading 5 4 3 2
Number of Employees 1294 1100 2556 1266
Profit per
Employee (24692.4) (4708.2) 832.9 5431.3
Sales per Employee 59742.7 66844.5 51405.3 17135.1
Key Credit Ratios
The following
figures are shown as Ratios or Percentages
Accounts Date 01/04/2006 29/01/2005 31/01/2004 25/01/2003
Consolidated Yes Yes
Current Ratio 0.5 1 0.8 1.4
Long Term
Debt/T.N.W (0.4) 1.9 0.5 0.4
Pre Tax Profit
Margin% (41.3) (7) 1.6 31.7
Gross Profit% (13.5) 4.4 12.6 12.4
Creditors Days
(D.P.O) 29 61 69 110
Quick Ratio 0.2 0.7 0.2 0.7
W.I.P/Inventory
Days 46.5 53.3 80.3 141.7
Return on
Investment% (133.4) (16.2) 7.7 28.7
Return on Assets% (85.8) (11.3) 3 20
T.N.W/Total
Assets% (40.5) 7.7 23.6 47.9
Return on Capital% 405.9 (40.5) 6.8 29.4
Rtn on
Shareholders Funds% (96.6) 10 41.9
Working Capital/Sales% (29.4) (1.6) (4.6) 19.7
Borrowing Ratio% (243.8) 648 93.4 45.7
Equity Gearing% (27.5) 13.2 43.3 91.9
Stock Turnover 6.9 7.2 5.2 2.9
Days Purchases
Outstanding 25.3 63.3 78.8 125.5
Key Industry Sector
Trends
Year 2007 2006 2005 2004
Sample Size 310 21145 32090 30573
Pre-Tax Profit
Margin 9.1 3.3 2.4 3.2
Current Ratio 2 1.4 1.3 1.3
Borrowing Ratio 177.6 16.2 13.2 18.9
Return on Capital 45.9 44.5 46.8 54.8
Creditors Days 26 62 67 60
Above figures
relate to companies in 1992 Standard Industry Classification (Nace) sector :
Other retail sale of new goods in specialised stores
Financial Summary
Auditors
Qualification
The Auditors have
qualified their opinion on the accounts for 1/04/2006. The qualification relates
to items of uncertainty or disagreement of a fundamental nature or is a
multiple qualification. Such matters will impact upon aspects of the financial
results.
Turnover
The subjects turnover
has increased by 5 % in the year.
Operating Loss
Totaled GBP
28,577,000. In the year prior a Loss of GBP 4,710,000 was achieved.
Pre Tax Profit
The subject made a
loss in the period of GBP 31,952,000 that was 516 % up on the loss made in the
previous period.
Working Capital
The company's working
capital deficiency increased in the period and now totals GBP 22,696,000.
Net Worth
Net worth has moved
from a positive position of GBP 5,362,000 to a deficiency of GBP 14,090,000.
Fixed Assets
The subject's fixed
assets increased during the year by GBP 882,000 to GBP 14,824,000 and are now
39 % of total assets compared with 30 % in the previous year.
Long Term
Liabilities
The company's long
term liabilities reduced during the period by 16 % and are now 44 % of net
worth compared with 139 % in the previous period.
Long Term
Liabilities
Long term liabilities
are now 17 % of total liabilities compared with 16 % in the previous period.
Long Term
Liabilities
Long term liabilities
are 79 % of capital employed, a decrease of 137 % over the previous period.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)