MIRA
INFORM REPORT
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Report Date : |
10.05.2007 |
IDENTIFICATION DETAILS
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Name : |
WALT DISNEY COMPANY LIMITED (THE) |
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Registered Office : |
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Country : |
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Financials (as on) : |
01.10.2005 |
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Date of Incorporation : |
08/03/1954 |
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Com. Reg. No.: |
00530051 |
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Legal Form : |
Private Limited |
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Line of Business : |
Television licensing, character merchandising and publishing and broadcast activities related to The Disney Channel. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
Company Identification Details
Subject Reported
on WALT DISNEY
COMPANY LIMITED(THE)
Address
Telephone 020 8222 1000
Facsimile 020 822 2217
Email info@disney.co.uk
Web Address www.disney.co.uk
Official Company Data
Legal Form Private Limited
Registration
Number 00530051
Date of
Incorporation 08/03/1954
Registered Office
History 11/07/1998 : The
Registered Office address changed from 41
STREET,
8/04/1987 : Change
of name from WALT DISNEY PRODUCTIONS LIMITED.
Date of Last
Annual
Return to Registry
22/02/2007
Registered
Objectives TO CARRY ON
BUSINESS AS DEALERS IN CINEMATOGRAPH FILMS
Accounts The last filed accounts
at Companies House are those to 01/10/2005
Accounting
Reference
Date 30/09
Operations
Activities Television
licensing, character merchandising and publishing and broadcast
activities
related to The Disney Channel.
Nace Code 9220
Premises Leased, Offices
Staff Employed 1,040
Trading Divisions BUENA VISTA
INTERNET GROUP,
Trade Names DISNEY CONSUMER
PRODUCTS, THE DISNEY STORE,
Import Countries No Import Activity
Export Countries No Export Activity
Bankers BANK OF
Address 25
Sort Code 165050
Bankers JP NORGAN
Address 25
Sort Code 165050
Auditors PricewaterhouseCoopers
LLP
Subsidiaries DCL FINANCE (
DISNEY REAL ESTATE
INVESTMENTS (
GM 1995 LIMITED
MIND'S EYE
HOLDINGS LIMITED
SHOE PRODUCTIONS
LIMITED
1 HAMMERSMITH
BROADWAY LIMITED
Public Record
Information
Summary of
CCJ's/Scottish Decrees
Period Last
72 Months Last 36 Months Last 18 Months
Amount Summary 8,090 7,699 7,361
Count Summary 5 3 1
Unsettled Amount
Summary 7,921 7,530 7,361
Highest Amount
Summary 7,361 7,361 7,361
Details of the
most recent CCJ's/Scottish Decrees
Date Amount Type Case
No Satisfied Court
15/02/2007 7,361 Judgment 7JM20159 BANBURY
07/12/2004 169 Judgment 4HW02322 15/03/2005 HIGH
WYCOMBE
07/12/2004 169 Judgment 4HW02322 HIGH
WYCOMBE
10/10/2002 203 Judgment WI206691 WILLESDEN
27/08/2002 188 Judgment WL200591 WEST
Summary of Mortgages,
Charges and
Satisfactions
Total Number of
Mortgages/Charges Registered 3
Number Outstanding
3
Number Partially
Satisfied 0
Number Satisfied 0
Date of Latest
Mortgage Created 16/04/2004
Details of most
recent Mortgages,
Charges and
Satisfactions
|
Date Fully |
Date |
Date |
Charge |
Form Type |
Lender |
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|
29/04/2004 |
16/04/2004 |
Deed Of Novation Supplemental To A Rent
Deposit Deed Dated 5Th.... |
395 |
The Glanmore Property Fund Limited |
|
|
24/02/1994 |
18/02/1994 |
Deed For Payments And For Deposit Of
Security Monies |
395 |
Camden Lock Business Centre Limited |
|
|
04/01/1991 |
02/01/1991 |
Rent Deposit Agreement |
N/A |
Camden Lock Business Centre Limited |
|
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 |
|
06/02/2007 |
Companies House Gazette |
Change among the directors of a company |
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02/02/2007 |
Companies House Gazette |
Change among the directors of a company |
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05/11/2004 |
Companies House Gazette |
Change among the directors of a company |
|
23/04/2004 |
Companies House Gazette |
Resolutions which give, vary, revoke or
renew an authority for the purposes of section 80 |
|
25/03/2004 |
Companies House Gazette |
Change among the directors of a company |
|
15/10/2003 |
Companies House Gazette |
Change among the directors of a company |
|
24/04/2003 |
Companies House Gazette |
Change among the directors of a company |
|
20/12/2002 |
Companies House Gazette |
Change among the directors of a company |
|
09/08/2002 |
Companies House Gazette |
Change among the directors of a company |
|
13/03/2002 |
Companies House Gazette |
Change among the directors of a company |
|
17/07/2001 |
Companies House Gazette |
Change among the directors of a company |
|
08/02/2001 |
Companies House Gazette |
Change among the directors of a company |
|
12/05/2000 |
Companies House Gazette |
Change among the directors of a company |
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21/03/2000 |
Companies House Gazette |
Change among the directors of a company |
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28/09/1999 |
Companies House Gazette |
Alteration in memorandum or articles of
association |
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14/04/1999 |
Companies House Gazette |
Change among the directors of a company |
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27/06/1998 |
Companies House Gazette |
Change among the directors of a company |
|
03/06/1998 |
Companies House Gazette |
Resolutions which give, vary, revoke or renew
an authority for the purposes of section 80 |
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09/05/1998 |
Companies House Gazette |
Change among the directors of a company |
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25/03/1997 |
Companies House Gazette |
Change among the directors of a company |
Company Secretary
Secretary NIGEL
ANTHONY COOK
Address FLAT 2, 4
Country of Origin UNITED KINGDOM
Date of Birth 29/07/1967
Appointment Date 15/10/2004
Other Directorships HAMMERSMITH ENTERPRISES LIMITED, WDMSP
LIMITED, MXMSP LIMITED, G.G. MANAGEMENT LIMITED, BUENA VISTA
HOME ENTERTAINMENT LIMITED, THE DISNEY STORE LIMITED, WALT DISNEY
INTERNATIONAL LIMITED, DCL FINANCE (UK) LIMITED, MIND'S EYE
PRODUCTIONS LIMITED, GM 1995 LIMITED, WALT DISNEY PROPERTIES (UK)
LIMITED, MAGICAL CRUISE COMPANY, LIMITED, ADVENTURES BY DISNEY UK
LIMITED, DISNEY MAGIC COMPANY LIMITED, MIND'S EYE HOLDINGS
LIMITED, 1 HAMMERSMITH BROADWAY LIMITED, BANNER PRODUCTIONS
LIMITED, KJ'S LAUNDRY LIMITED, POINTY HAT PRODUCTIONS LIMITED, JAMMY
PRODUCTIONS LIMITED, NT2 UK PRODUCTIONS LIMITED
Directors
Director DAVID
KEITH THOMPSON
Address
Country of Origin
Date of Birth 19/11/1949
Appointment Date 18/01/2007
Director ANDREW
PETER BIRD
Address 17753 CALLE DE
Country of Origin UNITED KINGDOM
Date of Birth 03/01/1964
Appointment Date 18/01/2007
Director MARSHA
LEIGH REED
Address
Country of Origin
Date of Birth 01/10/1957
Appointment Date 05/03/2004
Other
Directorships THE DISNEY STORE
LIMITED, WALT DISNEY INTERNATIONAL
LIMITED, DISNEY
MAGIC COMPANY LIMITED
Director MR PETER
LLOYD WILEY
Address
Country of Origin UNITED KINGDOM
Date of Birth 30/07/1968
Appointment Date 23/01/2007
Other Directorships MAGICAL CRUISE
COMPANY, LIMITED
Director CINDY
HELEN ROSE
Address
Country of Origin UNITED KINGDOM
Date of Birth 18/08/1965
Appointment Date 31/07/2002
Other
Directorships HAMMERSMITH
ENTERPRISES LIMITED, WDMSP LIMITED, MXMSP
LIMITED, WALT
DISNEY INTERNATIONAL LIMITED, DCL FINANCE (
LIMITED, MIND'S
EYE PRODUCTIONS LIMITED, IN KIND DIRECT, MAGICAL
CRUISE
COMPANY, LIMITED, MIRAMAX FILMS (
BY
DISNEY UK LIMITED, DISNEY MAGIC COMPANY LIMITED, MIND'S EYE
HOLDINGS
LIMITED, 1 HAMMERSMITH BROADWAY LIMITED, MX TFM (
LIMITED, SHOE
PRODUCTIONS LIMITED, BANNER PRODUCTIONS
LIMITED, POINTY
HAT PRODUCTIONS LIMITED, JAMMY PRODUCTIONS
LIMITED, NT2
UK PRODUCTIONS LIMITED
Accountant NIGEL
ANTHONY COOK
Address FLAT 2, 4
Country of Origin UNITED KINGDOM
Date of Birth 29/07/1967
Appointment Date 05/03/2004
Other Directorships HAMMERSMITH
ENTERPRISES LIMITED, WDMSP LIMITED, MXMSP
LIMITED, G.G.
MANAGEMENT LIMITED, BUENA VISTA HOME
ENTERTAINMENT
LIMITED, THE DISNEY STORE LIMITED, WALT DISNEY
INTERNATIONAL
LIMITED, DCL FINANCE (UK) LIMITED, MIND'S EYE
PRODUCTIONS
LIMITED, GM 1995 LIMITED, WALT DISNEY PROPERTIES (
LIMITED, MAGICAL
CRUISE COMPANY, LIMITED, ADVENTURES BY DISNEY
UK
LIMITED, DISNEY MAGIC COMPANY LIMITED, MIND'S EYE HOLDINGS
LIMITED, 1
HAMMERSMITH BROADWAY LIMITED, BANNER PRODUCTIONS
LIMITED, KJ'S LAUNDRY LIMITED, POINTY HAT PRODUCTIONS
LIMITED, JAMMY PRODUCTIONS LIMITED, NT2 UK PRODUCTIONS LIMITED
Share Capital
Shares Ordinary GBP 1.00
Issued Number 16
Principal
Shareholder 16 Walt
Disney International Ltd
The above reflects
the principle shareholder(s) by number of shares held, irrespective of share
classification type.
Holding Company WALT DISNEY
INTERNATIONAL LIMITED
Ultimate Parent WALT DISNEY
COMPANY INC., a company incorporated in
General Information
16/05/2005
Disney will carve 1,000 IT staffers from its
payrolls, shipping many of these workers to outsourcers IBM and Affiliated
Computer Services (ACS), according to a media report. The cuts - which will
account for close to one-third of Disney's total IT department - are expected
to begin in mid-July. The employees affected work in
Financial Data
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Profit and Loss |
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The following figures are shown in units of 1000 |
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
01/10/2005 |
30/09/2004 |
30/09/2003 |
30/09/2002 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
SALES |
522071 |
341991 |
207750 |
196491 |
|
Cost of goods sold |
180652 |
100078 |
29032 |
26904 |
|
GROSS PROFIT |
341419 |
241913 |
178718 |
169587 |
|
Wages and Salaries |
56480 |
41262 |
30137 |
29274 |
|
Directors Emoluments |
700 |
1858 |
1327 |
1635 |
|
Auditors Fees |
237 |
226 |
51 |
44 |
|
Non-Audit Fees |
10 |
46 |
76 |
63 |
|
Trading Profit |
53231 |
24688 |
12341 |
765 |
|
Depreciation |
6070 |
4327 |
3064 |
2478 |
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OPERATING PROFIT |
47161 |
20361 |
9277 |
(1713) |
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Non Trading Income |
6893 |
74828 |
65 |
698 |
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Interest Payable |
2451 |
849 |
|
531 |
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PRE TAX PROFIT |
51603 |
94340 |
9342 |
(1546) |
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Taxation |
13424 |
2493 |
2894 |
(713) |
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PROFIT AFTER TAX |
38179 |
91847 |
6448 |
(833) |
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Dividends Payable |
94000 |
|
|
45000 |
|
RETAINED PROFITS |
(55821) |
91847 |
6448 |
(45833) |
|
Balance Sheet |
|
The following
figures are shown in units of 1000 |
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
01/10/2005 |
30/09/2004 |
30/09/2003 |
30/09/2002 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
TOTAL FIXED
ASSETS |
157627 |
154553 |
16936 |
11935 |
|
Tangible Assets |
157627 |
154553 |
16936 |
11935 |
|
Fixed Assets |
113476 |
117499 |
14534 |
9533 |
|
Intermediate assets |
44151 |
37054 |
2402 |
2402 |
|
TOTAL CURRENT
ASSETS |
215285 |
263096 |
79140 |
120684 |
|
Trade debtors |
77306 |
58506 |
40767 |
47724 |
|
Stocks |
7629 |
6734 |
|
|
|
Other Current Assets |
130350 |
197856 |
38373 |
72960 |
|
Misc Current Assets |
14963 |
24559 |
4030 |
5911 |
|
Due From Group |
77303 |
123431 |
26364 |
36053 |
|
Cash |
38084 |
49866 |
7979 |
30996 |
|
TOTAL ASSETS |
372912 |
417649 |
96076 |
132619 |
|
TOTAL CURRENT
LIABILITIES |
192186 |
182179 |
80730 |
123721 |
|
Trade creditors |
15943 |
11009 |
3675 |
824 |
|
Short Term Loans |
112912 |
94884 |
44320 |
84634 |
|
Bank Overdraft |
|
|
|
23702 |
|
Due To Group |
112912 |
94884 |
44320 |
60932 |
|
Other Liabilities |
63331 |
76286 |
32735 |
38263 |
|
WORKING CAPITAL |
23099 |
80917 |
(1590) |
(3037) |
|
TOTAL LONG TERM
LIABS |
4796 |
3719 |
|
|
|
Other Liabilities |
4796 |
3719 |
|
|
|
NET
ASSETS/(LIABILITIES) |
175930 |
231751 |
15346 |
8898 |
|
SHARE CAPITAL +
RESERVES |
175930 |
231751 |
15346 |
8898 |
|
Share Cap + Sundry Res |
131490 |
131490 |
6932 |
6932 |
|
Sundry Reserves |
131490 |
131490 |
6932 |
6932 |
|
Profit and Loss account |
44440 |
100261 |
8414 |
1966 |
|
SHAREHOLDERS
FUNDS |
175930 |
231751 |
15346 |
8898 |
|
CAPITAL EMPLOYED |
180726 |
235470 |
15346 |
8898 |
|
Financial
Comparison |
|
The following
figures are shown in units of 1000 |
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
01/10/2005 |
30/09/2004 |
30/09/2003 |
30/09/2002 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Directors
Remuneration |
700 |
1858 |
1327 |
1635 |
|
Auditors
Remuneration |
237 |
226 |
51 |
44 |
|
Liquid Assets |
115390 |
108372 |
48746 |
78720 |
|
Net Working Capital |
23099 |
80917 |
(1590) |
(3037) |
|
Other Deferred
Liabs |
4796 |
3719 |
|
|
|
Tangible Net
Worth(T.N.W) |
175930 |
231751 |
15346 |
8898 |
|
Equity |
175930 |
231751 |
15346 |
8898 |
|
Number of Years
Trading |
51 |
50 |
49 |
48 |
|
Number of Employees |
1040 |
938 |
711 |
648 |
|
Profit per
Employee |
49618.3 |
100575.7 |
13139.2 |
(2385.8) |
|
Sales per
Employee |
501991.3 |
364595.9 |
292194.1 |
303226.9 |
|
Key Credit
Ratios |
|
The following figures
are shown as Ratios or Percentages |
|
Accounts Date |
01/10/2005 |
30/09/2004 |
30/09/2003 |
30/09/2002 |
|
Current Ratio |
1.1 |
1.4 |
1 |
1 |
|
Pre Tax Profit
Margin% |
9.9 |
27.6 |
4.5 |
(0.8) |
|
Gross Profit% |
65.4 |
70.7 |
86 |
86.3 |
|
Debtors Days
(D.S.O) |
54 |
62 |
72 |
89 |
|
Creditors Days
(D.P.O) |
11 |
12 |
6 |
2 |
|
Quick Ratio |
1.1 |
1.4 |
1 |
1 |
|
W.I.P/Inventory
Days |
15.4 |
24.6 |
|
|
|
Return on
Investment% |
18.4 |
28.8 |
15.7 |
(1.1) |
|
Return on
Assets% |
13.8 |
22.6 |
9.7 |
(1.2) |
|
T.N.W/Total
Assets% |
47.2 |
55.5 |
16 |
6.7 |
|
Return on
Capital% |
28.6 |
40.1 |
60.9 |
(17.4) |
|
Rtn on
Shareholders Funds% |
29.3 |
40.7 |
60.9 |
(17.4) |
|
Working
Capital/Sales% |
4.4 |
23.7 |
(0.8) |
(1.5) |
|
Borrowing Ratio% |
64.2 |
40.9 |
288.8 |
951.2 |
|
Equity Gearing% |
89.3 |
124.7 |
19 |
7.2 |
|
Stock Turnover |
68.4 |
50.8 |
|
|
|
Days Purchases
Outstanding |
32.2 |
40.2 |
46.2 |
11.2 |
Key Industry Sector
Trends
|
Year |
2006 |
2005 |
2004 |
2003 |
|
Sample Size |
1792 |
3169 |
2970 |
2445 |
|
Pre-Tax Profit
Margin |
24 |
11.2 |
6.1 |
3.9 |
|
Current Ratio |
1.7 |
1.5 |
1.4 |
1.4 |
|
Borrowing Ratio |
34.1 |
4.6 |
45.6 |
21 |
|
Return on
Capital |
122.4 |
113.2 |
103.9 |
73.9 |
|
Creditors Days |
66 |
290 |
129 |
96 |
|
Above figures
relate to companies in 1992 Standard Industry Classification (Nace) sector :
Radio and television activities |
Financial Summary
Auditors
Qualification
The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 1/10/2005.
Turnover
Turnover increased by 53 % in the period and now totals GBP 522,071,000.
Operating Profit
Totaled GBP 47,161,000. In the year prior a Profit of GBP 20,361,000 was achieved.
Pre Tax Profit
The subject's profit decreased by 45 % over the previous year.
Working Capital
The company's working capital, while remaining positive, decreased by 71 % in the period.
Net Worth
Net worth reduced by GBP 55,821,000 during the period and now stands at GBP 175,930,000.
Fixed Assets
The subject's fixed assets increased during the year by GBP 3,074,000 to GBP 157,627,000 and are now 42 % of total assets compared with 37 % in the previous year.
Long Term
Liabilities
The company's long term liabilities increased during the period by 28% and are now 3 % of net worth compared with 2 % in the previous period.
Long Term
Liabilities
Long term liabilities are now 1 % of total liabilities compared with 1 % in the previous period.
Long Term
Liabilities
Long term liabilities are 3 % of capital employed, an increase of 1 % over the previous 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 |
|
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%)