MIRA
INFORM REPORT
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Report Date : |
26.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MARKS AND SPENCER SCM LIMITED |
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Registered Office : |
Waterside House, 35 North Wharf Road, London, W2 1NW |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
15.07.2002 |
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Com. Reg. No.: |
04485686 |
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Legal Form : |
Private Limited Liability Company (GB) |
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Line of Business : |
General Retailers |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
MARKS AND SPENCER SCM LIMITED |
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Holding Company |
MARKS & SPENCER P.L.C. |
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Ultimate Holding Company |
MARKS & SPENCER GROUP P.L.C. |
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Trading Address |
WATERSIDE HO,35 NORTH WAHRF RD,LONDON,W2 1NW |
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Telephone |
08453-021234 |
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This company has an average risk status and should be
treated with a degree of caution |
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Official Company Data
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Legal Form |
Private Limited Liability Company (GB) |
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Registration Number |
04485686 |
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Date of Incorporation |
15/07/2002 |
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Registered Office |
Waterside House, 35 North Wharf Road, London, W2 1NW |
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Date of Last Annual Return to
Registry |
15/07/2008 |
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Activities |
General retailers |
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Accounts |
The last filed accounts cover
the period to 31/03/2007 and were filed on 04/02/2008 with Companies House. |
Recently Filed Documents
Details
of the most recent documents
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Date
Received |
Description |
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15/07/2008 |
Annual Return |
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31/03/2007 |
Financial Statement / Set of Accounts |
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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 |
WATERSIDE HOUSE 35, NORTH WHARF ROAD , LONDON
, W2 1NW |
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Country of Origin |
BRITISH |
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Date of Birth |
12/10/1956 |
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Appointment Date |
15/07/2002 |
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Other Appointments |
BUSYEXPORT
LIMITED, M&S VENTURES LIMITED, MANFORD (TEXTILES)
LIMITED, MARKS & SPENCER SIMPLY FOODS LIMITED, MARKS AND SPARKS
LIMITED, MARKS AND SPENCER (LISBURN) LIMITED, MARKS AND SPENCER
(NORTHERN IRELAND) LIMITED, MARKS AND SPENCER (SPRUCEFIELD)
LIMITED, MARKS AND SPENCER EXPORT CORPORATION LIMITED, MARKS AND
SPENCER FINANCE P.L.C., MARKS AND SPENCER INTERNATIONAL HOLDINGS
LIMITED, MARKS AND SPENCER INVESTMENTS LIMITED, MARKS AND SPENCER P.L.C., MARKS
AND SPENCER PENSION TRUST INVESTMENTS LIMITED, MARKS AND SPENCER PENSION
TRUST LIMITED, MARKS AND SPENCER PROPERTY DEVELOPMENTS
LIMITED, MARKS AND SPENCER PROPERTY HOLDINGS LIMITED, MARKS AND
SPENCER QUEST TRUSTEES LIMITED, MARKS AND SPENCER SCM
LIMITED, MARKS AND SPENCER VENTURES LIMITED, RUBY PROPERTIES
(CUMBERNAULD) LIMITED, RUBY PROPERTIES (ENFIELD) LIMITED, RUBY
PROPERTIES (EXETER) LIMITED, RUBY PROPERTIES (HARDWICK)
LIMITED, RUBY PROPERTIES (LONG EATON) LIMITED, RUBY PROPERTIES
(SWINDON) LIMITED, RUBY PROPERTIES (THORNCLIFFE) LIMITED, RUBY
PROPERTIES (TUNBRIDGE) LIMITED, SIMPLY FOOD (PROPERTY VENTURES)
LIMITED, ST. MICHAEL (MARKS AND SPENCER) LIMITED, ST. MICHAEL
FINANCE P.L.C. , ST.MICHAEL (FOOD & CLOTHES)
LIMITED, ST.MICHAEL (TEXTILES) LIMITED, ST.MICHAEL(RETAIL)LIMITED, SWINDON
WAREHOUSE SERVICES LIMITED, THE ZIP PROJECT LIMITED |
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DIRECTOR |
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Occupation |
FINANCIAL CONTROLLER |
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Address |
BRIAR WOOD 8, GRAYBURN CLOSE , CHALFONT ST
GILES , BUCKS , HP8 4NZ |
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Country of Origin |
BRITISH |
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Date of Birth |
22/07/1965 |
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Appointment Date |
01/09/2005 |
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Other Appointments |
MARKS AND SPENCER SCM LIMITED, MARKS AND SPENCER
SHARED SERVICES LIMITED, THE ZIP PROJECT LIMITED |
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SECRETARY |
MR ROBERT IVENS |
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Address |
77 LANGHAM ROAD, , TEDDINGTON , MIDDLESEX
, TW11 9HG |
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Country of Origin |
BRITISH |
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Date of Birth |
10/04/1958 |
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Appointment Date |
15/07/2002 |
Recently Resigned Directors (last
3)
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DIRECTOR |
SUSAN ELIZABETH HARRIS |
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Occupation |
ACCOUNTANT |
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Address |
18 , ARDROSS AVENUE , NORTHWOOD , MIDDX
, - - |
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Country of Origin |
BRITISH |
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Date of Birth |
30/01/1961 |
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Resignation Date |
31/08/2005 |
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DIRECTOR |
PAULA MARIA HAY-PLUMB |
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Occupation |
COMPANY DIRECTOR |
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Address |
VENTANA , DREWS PARK , BEACONSFIELD , BUCKS
, - - |
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Country of Origin |
BRITISH |
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Date of Birth |
18/03/1960 |
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Resignation Date |
30/06/2005 |
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DIRECTOR |
ALISON CLARE REED |
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Occupation |
CHARTERED ACCOUNTANT |
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Address |
WATERSIDE HOUSE 35 , NORTH WHARF ROAD , LONDON
, - - |
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Country of Origin |
BRITISH |
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Date of Birth |
22/12/1956 |
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Resignation Date |
30/04/2005 |
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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MARKS & SPENCER P.L.C. |
ORD |
1 |
1.00 |
100.00 |
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Mortgages and Charges
There
are no mortgages
Public Record Information
Summary
of CCJ's/Scottish Decrees
|
There are no unsatisfied CCJs against the company. |
Operations
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Activities |
General retailers |
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Sic Code |
Description |
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5212 |
Other retail sale in non-specialised stores |
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Staff Employed |
50 |
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Auditors |
PricewaterhouseCoopers LLP |
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Auditors Notes |
No Qualification. The Auditors have expressed a clean
opinion (i.e. unqualified with no referrals) on the latest accounts. |
Financial Data
Profit and Loss
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/03/2007 |
01/04/2006 |
02/04/2005 |
03/04/2004 |
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Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
000 |
000 |
000 |
000 |
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Consolidated? |
No |
No |
No |
No |
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SALES |
601,615 |
353,523 |
211,226 |
114,276 |
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Cost of goods sold |
571,904 |
350,836 |
210,040 |
113,547 |
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GROSS PROFIT |
29,711 |
2,687 |
1,186 |
729 |
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Other Expenses |
33,247 |
- |
- |
- |
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General administration costs (-) |
50 |
1,150 |
- |
- |
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Net Operating Profit(Loss) |
-3,586 |
1,537 |
2,107 |
966 |
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Other financial income |
606 |
- |
- |
- |
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Total Non Trading Income |
606 |
487 |
0 |
0 |
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Other financial charges |
3,134 |
- |
2,107 |
- |
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Financial Expenses |
3,134 |
2,024 |
2,107 |
966 |
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PRE TAX PROFIT |
-6,114 |
- |
- |
0 |
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Other Taxation |
0 |
- |
- |
- |
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Taxation |
-1,834 |
- |
- |
- |
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PROFIT AFTER TAX |
-4,280 |
- |
- |
0 |
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Net Loss |
4,280 |
- |
- |
- |
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Dividends Payable |
0 |
0 |
0 |
0 |
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RETAINED PROFITS |
- |
0 |
0 |
0 |
Balance Sheet
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/03/2007 |
01/04/2006 |
02/04/2005 |
03/04/2004 |
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Currency |
GBP |
GBP |
GBP |
GBP |
|
Units |
000 |
000 |
000 |
000 |
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Consolidated? |
No |
No |
No |
No |
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TOTAL FIXED ASSETS |
0 |
0 |
0 |
0 |
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TOTAL CURRENT ASSETS |
146,147 |
112,411 |
54,542 |
40,200 |
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Stocks |
81,173 |
70,108 |
24,005 |
26,356 |
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Trade Debtors |
49 |
68 |
47 |
118 |
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Other Receivables |
438 |
- |
45 |
45 |
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Prepaid expenses |
1,537 |
- |
202 |
- |
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Group Loans |
52,119 |
33,194 |
24,410 |
13,590 |
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Cash |
246 |
8,494 |
5,833 |
91 |
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Tax Recoverable |
10,294 |
- |
- |
- |
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own shares |
291 |
547 |
- |
- |
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TOTAL ASSETS |
146,147 |
112,411 |
54,542 |
40,200 |
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TOTAL CURRENT LIABILITIES |
147,488 |
112,901 |
54,542 |
40,200 |
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Trade Creditors |
46,192 |
37,516 |
11,943 |
13,289 |
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Other Current Liabilities |
109 |
2,112 |
166 |
60 |
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Due From Group |
92,260 |
56,091 |
35,138 |
23,759 |
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Accruals & deferred income |
8,927 |
16,739 |
2,814 |
86 |
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WORKING CAPITAL |
-1,341 |
-490 |
0 |
0 |
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TOTAL LONG TERM LIABS |
7,004 |
0 |
0 |
0 |
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Other Long Term Liabilities |
7,004 |
- |
- |
- |
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NET ASSETS/(LIABILITIES) |
-1,341 |
-490 |
0 |
0 |
|
SHARE CAPITAL + RESERVES |
-8,345 |
-490 |
0 |
0 |
|
Reserves |
-4,065 |
-490 |
- |
- |
|
Profit and Loss account |
-4,280 |
0 |
0 |
0 |
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SHAREHOLDERS FUNDS |
-8,345 |
-490 |
0 |
0 |
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CAPITAL EMPLOYED |
-1,341 |
-490 |
0 |
0 |
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TANGIBLE NET WORTH |
-8,345 |
-490 |
0 |
0 |
Key Credit Ratios
|
Accounts Date |
31/03/2007 |
01/04/2006 |
02/04/2005 |
03/04/2004 |
|
Current Ratio |
0.99 |
1.00 |
1.00 |
1.00 |
|
Profit Before Tax |
-0.01 |
- |
- |
0.00 |
|
Creditors Days (D.P.O) |
29.48 |
39.03 |
20.75 |
42.72 |
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Quick Ratio |
0.44 |
0.37 |
0.56 |
0.34 |
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T.N.W/Total Assets |
-0.06 |
0.00 |
0.00 |
0.00 |
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Return on Capital |
455.93 |
- |
- |
- |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
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Equity Gearing |
-0.01 |
- |
- |
- |
|
Solvency (%) |
-1851.31 |
-23041.02 |
NaN |
NaN |
Financial Summary
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Turnover |
Turnover increased by 70% in the period. Turnover totalled
GBP 601,615,000 for the period. |
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Operating Loss |
Totalled GBP -3,586,000 In the period prior a profit
of GBP 1,537,000 was achieved. |
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Pre Tax |
The subject made a loss of GBP 6,114,000 compared
with a profit of GBP NaN in the previous period. |
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Working Capital |
The company's working capital deficiency increased in the
period and now stands at GBP 1,341,000 |
|
Tangible Net Worth |
Net worth reduced by 7,855,000 during the period and now
stands at GBP -8,345,000 |
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Long Term Liabilities |
Long term liabilities are now 5% of total assets compared
with 0% in the previous period |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.23 |
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UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.66.41 |
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 |
|
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 |
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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. |
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%)