MIRA
INFORM REPORT
|
Report Date : |
02.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
FLYERS GROUP PLC |
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Registered Office : |
Unit 1 Windsor Ind Est, 424 Ware Rd, Hertford, Herts SG13
7EW |
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Country : |
United Kingdom |
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Financials (as on) : |
31.01.2007 |
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Date of Incorporation : |
18.09.1990 |
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Com. Reg. No.: |
02540759 |
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Legal Form : |
Public Limited Liability Company (GB) |
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Line of Business : |
Wholesalers of Children's Fashion Wear |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
GBP 17,100 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
FLYERS GROUP PLC |
|
Ultimate Holding Company |
FLYERS GROUP PLC |
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Trading Address |
Unit 1, Windsor Indstl Est,424 Ware Rd,HERTFORD,SG13 7EW |
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Telephone |
01992-538003 |
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This company has an average risk status and should be treated
with a degree of caution |
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Credit Limit |
GBP 17,100 |
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Selling to this company? The Credit Limit is the
recommended maximum outstanding debtor exposure at any one time. |
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Contract Limit |
GBP 172,400 |
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Buying from this company? The Contract Limit is the
recommended aggregate annual value for supply contracts. |
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Official Company Data
|
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|
Legal Form |
Public Limited Liability Company (GB) |
|
Registration Number |
02540759 |
|
Date of Incorporation |
18/09/1990 |
|
Registered Office |
Unit 1 Windsor Ind Est, 424 Ware Rd, Hertford, Herts SG13
7EW |
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Date of Last Annual Return to
Registry |
31/01/2008 |
|
Activities |
Wholesalers of children's fashion wear |
|
Accounts |
The last filed accounts cover
the period to 31/01/2007 and were filed on 03/09/2007 with Companies House. |
Recently Filed Documents
Details
of the most recent documents
|
Date
Received |
Description |
|
31/01/2008 |
Annual Return |
|
31/01/2007 |
Financial Statement / Set of Accounts |
|
It should be noted that there is no legal requirement to file
satisfaction details of mortgages/charges at Companies House. |
Known Directors
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DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
9, THE GATEWAYS GOFFS OAK , WALTHAM CROSS
, HERTS , EN7 6SU |
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Country of Origin |
BRITISH |
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Date of Birth |
28/11/1963 |
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Appointment Date |
07/12/2007 |
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Other Appointments |
FLYERS GROUP PLC, NICOLE DANIELLE LIMITED |
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DIRECTOR |
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Occupation |
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Address |
9, THE GATEWAYS GOFFS OAK , WALTHAM CROSS
, HERTS , EN7 6SU |
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Date of Birth |
01/08/1965 |
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Appointment Date |
31/01/2004 |
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Other Appointments |
FLYERS GROUP PLC, ICE BLUE (UK) LIMITED, ICE
BLUE RETAIL (2004) LTD |
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SECRETARY |
MS JACQUELINE JALIL |
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|
Address |
9 THE GATEWAYS, GOFFS OAK , WALTHAM CROSS
, HERTFORDSHIRE , EN7 6SU |
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Country of Origin |
BRITISH |
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Date of Birth |
28/11/1963 |
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Appointment Date |
16/12/2005 |
Recently Resigned Directors (last
3)
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DIRECTOR |
HELEN FARRINGTON |
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Occupation |
SALES AND MARKETINGDIRECTOR |
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Address |
54A , POLLARD ROAD , BARNET , HERTS
, - - |
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Country of Origin |
BRITISH |
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Date of Birth |
30/06/1963 |
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Resignation Date |
07/12/2007 |
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DIRECTOR |
MARK ANDREW COLLINS |
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Occupation |
DIRECTOR |
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Address |
54 , HAZELWOOD PARK CLOSE , CHIGWELL
, ESSEX , - - |
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Country of Origin |
BRITISH |
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Date of Birth |
04/07/1976 |
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Resignation Date |
11/10/2004 |
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DIRECTOR |
DEREK A HOPKINS |
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Address |
THE CHASE , DANESBURY PARK ROAD , WELWYN
, HERTS , - - |
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Date of Birth |
08/06/1942 |
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Resignation Date |
21/06/2000 |
Share Summary
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Share Currency: |
GBP |
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Principal Shareholders: |
Type Of Share |
No. of Shares |
Value |
Voting %age |
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Jacqueline Anne Jalil |
ORD |
4,000 |
4,000.00 |
40.00 |
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Jacqueline Anne Jalil |
|
16,000 |
16,000.00 |
40.00 |
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Mr Abu Jalil |
ORD |
6,000 |
6,000.00 |
60.00 |
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Mr Abu Jalil |
|
24,000 |
24,000.00 |
60.00 |
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Mr Abu Jalil |
B ORD |
3 |
3.00 |
60.00 |
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Mortgages and Charges
|
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Total Registered |
12 |
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Total Outstanding |
10 |
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Total Satisfied |
2 |
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Most Recent Mortgage |
01/11/2006 |
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Date Registered |
03/11/2006 |
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Type |
395 |
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Date Created |
01/11/2006 |
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Lender |
CITY INVOICE FINANCE LIMITED |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE
ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT
CREATING OR EVIDENCING THE CHARGE |
|
Details |
FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL
PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED
CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE
DOCUMENT FOR FULL DETAILS |
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Satisfied? |
No |
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Date Registered |
12/09/2006 |
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Type |
395 |
|
Date Created |
22/08/2006 |
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Lender |
CONANCE LIMITED |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR
EVIDENCING THE CHARGE |
|
Details |
FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL
PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED
CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE
DOCUMENT FOR FULL DETAILS |
|
Satisfied? |
No |
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|
|
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Date Registered |
06/09/2006 |
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Type |
395 |
|
Date Created |
05/09/2006 |
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Lender |
AIB GROUP (UK) PLC |
|
Secured On |
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 UNCALLED CAPITAL
BUILDINGS FIXTURES PLANT AND MACHINERY |
|
Satisfied? |
No |
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|
|
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Date Registered |
09/08/2006 |
|
Type |
395 |
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Date Created |
28/07/2006 |
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Lender |
HSBC BANK PLC |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE
ON ANY ACCOUNT WHATSOEVER |
|
Details |
ANY CREDIT BALANCES DUE TO THE COMPANY UNDER CONDITION 13
OF THE AGREEMENT FOR THE PURCHASE OF DEBTS SEE THE MORTGAGE CHARGE DOCUMENT
FOR FULL DETAILS |
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Satisfied? |
No |
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|
|
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Date Registered |
18/07/2006 |
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Type |
395 |
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Date Created |
28/06/2006 |
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Lender |
BMG (BRIDGEND) LIMITED |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR
EVIDENCING THE CHARGE |
|
Details |
ALL THE INTEREST IN THE DEPOSIT ACCOUNT AND ALL MONEY FROM
TIME TO TIME STANDING TO THE CREDIT OF OR ACCRUING TO THE DEPOSIT ACCOUNT SEE
THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS |
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Satisfied? |
No |
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Date Registered |
18/07/2006 |
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Type |
395 |
|
Date Created |
28/06/2006 |
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Lender |
THE DESIGNER RETAIL OUTLET CENTRES (MANSFIELD) LIMITED
PARTNERSHIP |
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Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE
CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING
THE CHARGE |
|
Details |
ALL THE INTEREST IN THE DEPOSIT ACCOUNT AND ALL MONEY FROM
TIME TO TIME STANDING TO THE CREDIT OF OR ACCRUING TO THE DEPOSIT ACCOUNT SEE
THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS |
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Satisfied? |
No |
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|
|
|
Date Registered |
18/07/2006 |
|
Type |
395 |
|
Date Created |
28/06/2006 |
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Lender |
THE DESIGNER RETAIL OUTLET
CENTRES (YORK) LIMITED PARTNERSHIP |
|
Secured On |
ALL MONIES DUE OR TO BECOME
DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT
CREATING OR EVIDENCING THE CHARGE |
|
Details |
ALL THE INTEREST IN THE
DEPOSIT ACCOUNT AND ALL MONEY FROM TIME TO TIME STANDING TO THE CREDIT OF OR
ACCRUING TO THE DEPOSIT ACCOUNT SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL
DETAILS |
|
Satisfied? |
No |
|
|
|
|
Date Registered |
18/07/2006 |
|
Type |
395 |
|
Date Created |
28/06/2006 |
|
Lender |
BMG (CHESHIRE OAKS) LIMITED |
|
Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE
UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE
CHARGE |
|
Details |
ALL THE INTEREST IN THE DEPOSIT ACCOUNT AND ALL MONEY FROM
TIME TO TIME STANDING TO THE CREDIT OF OR ACCRUING TO THE DEPOSIT ACCOUNT SEE
THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS |
|
Satisfied? |
No |
|
|
|
|
Date Registered |
24/08/2001 |
|
Type |
395 |
|
Date Created |
22/08/2001 |
|
Lender |
HSBC INVOICE FINANCE (UK) LTD |
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Secured On |
WHETHER ARISING UNDER THE AGREEMENT (AS DEFINED) ALL MONIES
DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER |
|
Details |
ALL DEBTS PURCHASED OR PURPORTED TO BE PURCHASED BY THE
CHARGEE PURSUANT TO AN AGREEMENT FOR THE PURCHASE OF DEBTS BETWEEN THE
SECURITY HOLDER AND THE COMPANY (INCLUDING THE ASSOCIATED RIGHTS THERETO)
WHICH FAIL TO VEST EFFECTIVELY OR ABSOLUTELY IN THE SECURITY HOLDER FOR ANY
REASON |
|
Satisfied? |
No |
|
|
|
|
Date Registered |
01/07/2000 |
|
Type |
395 |
|
Date Created |
21/06/2000 |
|
Lender |
HSBC BANK PLC |
|
Secured On |
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 FIXTURES FIXED PLANT AND MACHINERY |
|
Satisfied? |
No |
|
|
|
|
Date Registered |
19/12/1990 |
|
Type |
9999 |
|
Date Created |
10/12/1990 |
|
Lender |
BARCLAYS BANK PLC |
|
Secured On |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE
ON ANY ACCOUNT WHATSOEVER |
|
Details |
27 OSBORN ST LONDON BOROUGH OF TOWER HAMLETS. |
|
Satisfied? |
Fully |
|
|
|
|
Date Registered |
08/11/1990 |
|
Type |
9999 |
|
Date Created |
02/11/1990 |
|
Lender |
BARCLAYS BANK PLC |
|
Secured On |
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 FIXTURES FIXED PLANT AND MACHINERY |
|
Satisfied? |
Fully |
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|
Public Record Information
Summary
of CCJ's/Scottish Decrees
|
There are no unsatisfied CCJs against the company. |
Operations
|
|
|
|
Activities |
Wholesalers of children's fashionwear |
|
Sic Code |
Description |
|
5142 |
Wholesale of clothing and footwear |
|
5142 |
Wholesale of clothing and footwear |
|
Staff Employed |
16 |
|
Auditors |
Michael Kay & Co |
|
Auditors Notes |
No Qualification. The Auditors have expressed a clean
opinion (i.e. unqualified with no referrals) on the latest accounts. |
|
Bankers |
Barclays Bank PLC |
|
Sort Codes |
200672 |
|
Bankers |
HSBC Bank Plc |
|
Sort Codes |
401102 |
|
Bankers |
HSBC Bank Plc |
|
Sort Codes |
401118 |
Financial Data
Profit and Loss
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/01/2007 |
31/01/2006 |
31/01/2005 |
31/01/2004 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
units |
units |
units |
units |
|
Consolidated? |
No |
No |
No |
No |
|
SALES |
6,017,501 |
3,785,494 |
5,264,201 |
4,276,153 |
|
Export Sales |
115,845 |
- |
- |
- |
|
Other operating income |
31,135 |
- |
3,200 |
- |
|
Cost of goods sold |
4,417,961 |
2,875,657 |
4,208,873 |
3,387,452 |
|
GROSS PROFIT |
1,599,540 |
909,837 |
1,055,328 |
888,701 |
|
Other Expenses |
237,803 |
99,172 |
133,010 |
- |
|
General administration costs (-) |
1,197,180 |
673,684 |
651,653 |
366,434 |
|
Wages and Salaries |
684,536 |
417,871 |
421,398 |
352,758 |
|
Depreciation |
48,690 |
45,189 |
37,386 |
13,676 |
|
Net Operating Profit(Loss) |
195,692 |
136,981 |
273,865 |
140,411 |
|
Total Non Trading Income |
0 |
548 |
73 |
182 |
|
Interest expenses & similar (-) |
16,786 |
10,869 |
9,490 |
8,926 |
|
Other financial charges |
30,459 |
- |
- |
- |
|
Financial Expenses |
47,245 |
10,869 |
9,490 |
8,926 |
|
PRE TAX PROFIT |
148,447 |
126,660 |
264,448 |
131,667 |
|
Other Taxation |
-762 |
15,889 |
16,606 |
532 |
|
Taxation |
31,195 |
23,823 |
21,000 |
25,129 |
|
PROFIT AFTER TAX |
118,014 |
86,948 |
226,842 |
106,006 |
|
Net Profit |
118,014 |
86,948 |
226,842 |
106,006 |
|
Dividends Payable |
78,000 |
78,000 |
78,000 |
75,000 |
|
RETAINED PROFITS |
40,014 |
8,948 |
148,842 |
31,006 |
Balance Sheet
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/01/2007 |
31/01/2006 |
31/01/2005 |
31/01/2004 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
units |
units |
units |
units |
|
Consolidated? |
No |
No |
No |
No |
|
TOTAL FIXED ASSETS |
314,975 |
341,603 |
391,715 |
39,705 |
|
Plant, machinery & equipment |
314,975 |
341,603 |
391,715 |
39,705 |
|
TOTAL CURRENT ASSETS |
1,234,180 |
852,196 |
769,026 |
796,011 |
|
Stocks |
222,949 |
257,797 |
228,115 |
203,119 |
|
Trade Debtors |
689,883 |
480,589 |
325,120 |
577,982 |
|
Other Receivables |
156,505 |
57,454 |
23,816 |
1,855 |
|
Prepaid expenses |
96,056 |
21,908 |
12,637 |
7,312 |
|
Cash |
68,787 |
34,448 |
179,338 |
5,743 |
|
TOTAL ASSETS |
1,549,155 |
1,193,799 |
1,160,741 |
835,716 |
|
TOTAL CURRENT LIABILITIES |
1,194,866 |
889,811 |
869,240 |
706,049 |
|
Trade Creditors |
792,511 |
541,648 |
721,911 |
336,990 |
|
Bank Overdraft |
9,112 |
263,400 |
77,904 |
274,707 |
|
Taxes |
48,571 |
32,761 |
38,329 |
38,527 |
|
Other Current Liabilities |
321,024 |
- |
- |
- |
|
Hire Purchase |
6,980 |
8,241 |
17,832 |
8,517 |
|
Accruals & deferred income |
16,668 |
43,761 |
13,264 |
17,308 |
|
WORKING CAPITAL |
39,314 |
-37,615 |
-100,214 |
89,962 |
|
TOTAL LONG TERM LIABS |
43,921 |
33,632 |
30,093 |
17,101 |
|
Taxation |
32,870 |
33,632 |
17,653 |
1,047 |
|
Total Hire Purchase / Leasing |
11,051 |
- |
12,440 |
13,907 |
|
NET ASSETS/(LIABILITIES) |
354,289 |
303,988 |
291,501 |
129,667 |
|
SHARE CAPITAL + RESERVES |
310,368 |
270,356 |
261,408 |
112,566 |
|
Issued Share Capital |
50,003 |
50,003 |
50,003 |
50,003 |
|
Profit and Loss account |
260,365 |
220,353 |
211,405 |
62,563 |
|
SHAREHOLDERS FUNDS |
310,368 |
270,356 |
261,408 |
112,566 |
|
CAPITAL EMPLOYED |
354,289 |
303,988 |
291,501 |
129,667 |
|
TANGIBLE NET WORTH |
310,368 |
270,356 |
261,408 |
112,566 |
Key Credit Ratios
|
Accounts Date |
31/01/2007 |
31/01/2006 |
31/01/2005 |
31/01/2004 |
|
Current Ratio |
1.03 |
0.96 |
0.88 |
1.13 |
|
Profit Before Tax |
0.02 |
0.03 |
0.05 |
0.03 |
|
Creditors Days (D.P.O) |
65.48 |
68.75 |
62.61 |
36.31 |
|
Quick Ratio |
0.85 |
0.67 |
0.62 |
0.84 |
|
Return on Assets |
9.58 |
10.61 |
22.78 |
15.75 |
|
T.N.W/Total Assets |
0.20 |
0.23 |
0.23 |
0.13 |
|
Return on Capital |
41.90 |
41.67 |
90.72 |
101.54 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
|
Equity Gearing |
0.09 |
0.08 |
0.15 |
0.35 |
|
Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
|
Solvency (%) |
399.13 |
341.57 |
344.03 |
642.42 |
Financial Summary
|
Turnover |
Turnover increased by 59% in
the period. Turnover totalled GBP 6,017,501,units for the period. |
|
Operating Profit |
Totalled GBP 195,692,units In the period prior a
profit of GBP 136,981 was achieved. |
|
Pre Tax |
The subject made a profit of GBP 148,447,units
compared with a profit of GBP 126,660 in the previous period. |
|
Working Capital |
The company's working capital improved in the period by
-205% |
|
Tangible Net Worth |
Net worth increased by 40,012 during the period and now
stands at GBP 310,368,units |
|
Fixed Assets |
The subjects fixed assets reduced during the period by GBP
26,628 to GBP 314,975,units and are now 20% of total assets
compared with 29% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities increased during the period
by 31% and are now 14% of net worth compared with 12% in the previous period |
|
Long Term Liabilities |
Long term liabilities are now 3% of total assets compared
with 3% in the previous period |
Previous
Searches on this Company
|
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||
|
Last 3 Months |
Last 6 Months |
Last 12 Months |
|
0 |
0 |
1 |
|
|
||
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.37 |
|
UK Pound |
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.65.96 |
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. |
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%)