MIRA
INFORM REPORT
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Report Date : |
10.05.2007 |
IDENTIFICATION DETAILS
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Name : |
TARGET ENTERTAINMENT LIMITED |
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Registered Office : |
2nd Floor |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
29/07/1998 |
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Com. Reg. No.: |
03609126 |
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Legal Form : |
Private Limited |
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Line of Business : |
The ownership and international exploitation of television programming and formats and associated ancillary rights. |
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 : |
Clear |
Company Identification Details
Subject Reported
on TARGET ENTERTAINMENT
LIMITED
Address
Telephone 020 75357200
Email info@target-tv.com
Web Address www.target-entertainment.com
Official Company Data
Legal Form Private Limited
Registration
Number 03609126
VAT Number GB726022368
Date of
Incorporation 29/07/1998
Registered Office 2ND FLOOR
History 24/09/2004 : The Registered Office address changed
from DRURY HOUSE, 34-43
28/02/2003 : Change of name from TARGET DISTRIBUTION
LIMITED.
25/02/2003 : The Registered Office address changed
from 41-42 BERNERS
STREET,
11/11/1998 : The Registered Office address changed
from 14
SQUARE,
Date of Last
Annual
Return to Registry
27/07/2006
Accounts The last filed
accounts at Companies House are those to 31/12/2005
Accounting
Reference
Date 31/12
Operations
Activities The ownership and
international exploitation of television programming and formats and associated
ancillary rights.
Nace Code 9220
Premises Leased, Offices
Staff Employed 34
Import Countries No Import Activity
Export Countries ALL OVER THE WORLD
Bankers BARCLAYS BANK PLC
Address
Sort Code 207898
Auditors Grant
Branches
Subsidiaries TARGET
DISTRIBUTION 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 5
Number Outstanding 1
Number Partially Satisfied 0
Number Satisfied 4
Date of Latest Mortgage Created 05/10/2006
Date of Latest Satisfaction 25/03/2006
Details of most
recent Mortgages,
Charges and
Satisfactions
|
Date Fully |
Date |
Date |
Charge |
Form Type |
Lender |
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12/11/2003 |
20/10/2006 |
05/10/2006 |
Debenture |
395 |
Barclays Bank Plc |
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25/03/2006 |
05/12/2005 |
02/12/2005 |
Charge |
395 |
Barclays Bank Plc |
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11/12/2003 |
31/03/2001 |
16/03/2001 |
Supplemental Security Assignment |
395 |
Societe Generale, |
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12/11/2003 |
11/11/1998 |
06/11/1998 |
Fixed And Floating Debenture |
395 |
Talkback Productions Limited |
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02/03/2005 |
11/11/1998 |
06/11/1998 |
Fixed And Floating Debenture |
395 |
Tiger Aspect Productions 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
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Date |
Source |
Description |
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09/03/2005 |
Companies House Gazette |
Change among the directors of a company |
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02/03/2005 |
Companies House Gazette |
Resolutions or agreements to which section
380 applies (relating to shares, rights or names) |
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02/03/2005 |
Companies House Gazette |
Alteration in memorandum or articles of
association |
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07/01/2005 |
Companies House Gazette |
Change among the directors of a company |
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16/12/2003 |
Companies House Gazette |
Change among the directors of a company |
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20/11/2002 |
Companies House Gazette |
Change among the directors of a company |
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31/10/2002 |
Companies House Gazette |
Change among the directors of a company |
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03/10/2001 |
Companies House Gazette |
Special resolutions passed under section
95 dis-application of pre-emption rights |
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03/10/2001 |
Companies House Gazette |
Resolutions which give, vary, revoke or
renew an authority for the purposes of section 80 |
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03/10/2001 |
Companies House Gazette |
Alteration in memorandum or articles of
association |
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24/07/2001 |
Companies House Gazette |
Change among the directors of a company |
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11/01/2001 |
Companies House Gazette |
Change among the directors of a company |
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12/10/2000 |
Companies House Gazette |
Change among the directors of a company |
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20/09/2000 |
Companies House Gazette |
Change among the directors of a company |
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14/07/2000 |
Companies House Gazette |
Change among the directors of a company |
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11/11/1998 |
Companies House Gazette |
Resolutions which give, vary, revoke or renew
an authority for the purposes of section 80 |
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11/11/1998 |
Companies House Gazette |
Resolutions or agreements to which section
380 applies (relating to shares, rights or names) |
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11/11/1998 |
Companies House Gazette |
Alteration in memorandum or articles of
association |
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11/11/1998 |
Companies House Gazette |
Special resolutions passed under section
95 dis-application of pre-emption rights |
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10/10/1998 |
Companies House Gazette |
Change among the directors of a company |
Company Secretary
Secretary JEREMY
CHARLES ROBERTS
Address 14 PERRYN HOUSE,
Country of Origin UNITED KINGDOM
Date of Birth 26/07/1974
Appointment Date 31/12/2002
Directors
Managing Director ALISON DAWN RAYSON
Address KINGS
HOUSE, 17 CREEK ROAD, EAST MOLESEY,
Country of Origin UNITED KINGDOM
Date of Birth 25/07/1968
Appointment Date 02/10/1998
Other Directorships TARGET DISTRIBUTION LIMITED
Director RICHARD
CHARLES THOMPSON
Address
Country of Origin UNITED KINGDOM
Date of Birth 31/07/1964
Appointment Date 24/02/2005
Other Directorships MACKINTOSH
LIMITED, NORTHERN CATERING (
INVESTMENTS LIMITED, RECIS
LIMITED, SPARTICUS HOLDINGS (
RAINWEAR LIMITED, TRADITIONAL WEATHERWEAR LIMITED, RIVERHAWK
INVESTMENTS LIMITED, BURJ PROPERTIES LIMITED, SINEQUANON
CONSULTANCY LIMITED, TIGERHAWK TRADING LIMITED, RIVERFAR
LIMITED, RIVERKING LIMITED, PIVOTAL TRADING LIMITED, TIGERHAWK
LIMITED, ELEMENTAL HERBOLOGY LIMITED, GLOBEMACK UK LIMITED, CONTENT
WORLD LTD., FROSTFRENCH (HOLDINGS) LIMITED, STARNEVESSE
LIMITED, ANGELVOICE LIMITED, FINCH AND PARTNERS LIMITED, IMAGO FITNESS
LIMITED, D2SEE LIMITED, BLUEDATA LIMITED, ARROWMANOR
LIMITED, ACORNCHARM LIMITED, GLOBECOUNT LIMITED
Share Capital
Shares Ordinary A GBP
0.00
Issued Number 1,227,000
Shares Deferred GBP 0.00
Issued Number 577,000
Principal Shareholder 613,500 Amphitrite
Ltd
613,500 Alison
Rayson
288,500 Amphitrite Ltd
288,500 Alison Rayson
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
Financial Data
Profit and Loss
The following
figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 31/12/2005 31/12/2004 31/12/2003 31/12/2002
Currency GBP GBP GBP GBP
SALES 10271 9616 4401 4613
Cost of goods sold 7747 7192 3011 3635
GROSS PROFIT 2524 2424 1390 978
Wages and Salaries 1617 1369 743 586
Directors
Emoluments 126 232 118 269
Auditors Fees 15 12 10 10
Non-Audit Fees 13 35 6 83
Trading Profit (177) (394) 186 90
Depreciation 89 61 27 60
OPERATING PROFIT (266) (455) 159 30
Non Trading Income 3 5 (179) (402)
Interest Payable 7 6 1 19
PRE TAX PROFIT (270) (456) (21) (391)
Taxation 70 39 32 (70)
PROFIT AFTER TAX (340) (495) (53) (321)
RETAINED PROFITS (340) (495) (53) (321)
Balance Sheet
The following
figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 31/12/2005 31/12/2004 31/12/2003 31/12/2002
Currency GBP GBP GBP GBP
TOTAL FIXED ASSETS 811 681 105 170
Tangible Assets 125 185 50 18
Fixed Assets 125 185 50 18
Intangible Assets 686 496 55 152
TOTAL CURRENT
ASSETS 3883 2925 1875 2120
Trade debtors 2558 2290 1300 1193
Other Current
Assets 1325 635 575 927
Misc Current
Assets 583 488 392 240
Due From Group 1
Cash 742 146 183 687
TOTAL ASSETS 4694 3606 1980 2290
TOTAL CURRENT
LIABILITIES 5409 4606 2333 2636
Trade creditors 681 428 142 265
Short Term Loans 549 184 224 144
Bank Loans 199
Other Finance 350 125
Due To Group 59 224 144
Other Liabilities 4179 3994 1967 2227
WORKING CAPITAL (1526) (1681) (458) (516)
TOTAL LONG TERM
LIABS 625
Long Term Loans 625
Other Finance 625
NET
ASSETS/(LIABILITIES) (1340) (1000) (353) (346)
SHARE CAPITAL +
RESERVES (1340) (1000) (353) (346)
Share Cap + Sundry
Res 2 2 2 2
Issued Share
Capital 2 2 2 2
Profit and Loss
account (1342) (1002) (355) (348)
SHAREHOLDERS FUNDS (1340) (1000) (353) (346)
CAPITAL EMPLOYED (715) (1000) (353) (346)
Financial
Comparison
The following
figures are shown in units of 1000
Number of Weeks 52 52 52 52
Accounts Date 31/12/2005 31/12/2004 31/12/2003 31/12/2002
Currency GBP GBP GBP GBP
Net Cashflow from
Oper. 174 896
Increase in Cash 596 (37)
Directors
Remuneration 126 232 118 269
Auditors
Remuneration 15 12 10 10
Liquid Assets 3300 2436 1483 1880
Net Working
Capital (1526) (1681) (458) (516)
Long Term
Debt(>12 Months) 625
Tangible Net
Worth(T.N.W) (2026) (1496) (408) (498)
Equity (1340) (1000) (353) (346)
Number of Years
Trading 7 6 5 4
Number of
Employees 34 35 18 15
Profit per
Employee (7941.2) (13028.6) (1166.7) (26066.7)
Sales per Employee 302088.2 274742.9 244500 307533.3
Key Credit Ratios
The following
figures are shown as Ratios or Percentages
Accounts Date 31/12/2005 31/12/2004 31/12/2003 31/12/2002
Current Ratio 0.7 0.6 0.8 0.8
Long Term
Debt/T.N.W (0.3)
Pre Tax Profit
Margin% (2.6) (4.7) (0.5) (8.5)
Gross Profit% 24.6 25.2 31.6 21.2
Debtors Days
(D.S.O) 91 87 108 94
Creditors Days
(D.P.O) 24 16 12 21
Quick Ratio 0.7 0.6 0.8 0.8
Return on
Investment% 158.4 55.1 15.5 184.2
Return on Assets% (5.8) (12.6) (1.1) (17.1)
T.N.W/Total
Assets% (43.2) (41.5) (20.6) (21.7)
Return on Capital% 37.8 45.6 5.9 113
Working Capital/Sales% (14.9) (17.5) (10.4) (11.2)
Borrowing Ratio% (57.9) (12.3) (54.9) (28.9)
Equity Gearing% (22.2) (21.7) (15.1) (13.1)
Days Purchases
Outstanding 32.1 21.7 17.2 26.6
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 31/12/2005.
Turnover
Turnover has increased from GBP 9,616,000 to GBP 10,271,000, a growth of 7 % in the period.
Operating Loss
Totaled GBP 266,000. In the year prior a Loss of GBP 455,000 was achieved.
Pre Tax Profit
A loss of GBP 270,000 was made in the period compared with a loss of GBP 456,000 in the previous period, a reduction of 40 %.
Working Capital
The company's working capital deficiency reduced in the period and now stands at GBP 1,526,000.
Net Worth
There was a negative net worth of GBP 1,340,000.
Fixed Assets
The subject's fixed assets increased during the year by GBP 130,000 to GBP 811,000 and are now 17 % of total assets compared with 18 % in the previous year.
Long Term
Liabilities
Long term liabilities were GBP 625,000 which are 13 % of total liabilities and -87 % of capital employed.
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 |
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<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%)