MIRA
INFORM REPORT
|
Report Date : |
19.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
NEXT PLC |
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Registered Office : |
Desford Road, Enderby, Leicester, LE19 4AT |
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Country : |
United Kingdom |
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Financials (as on) : |
27.01.2007 |
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Date of Incorporation : |
09.04.2002 |
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Com. Reg. No.: |
04412362 |
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Legal Form : |
Public Limited Liability Company (GB) |
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Line of Business : |
Retailers of Clothing |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Maximum Credit Limit : |
GBP 30,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Identification Details
|
Subject Reported on |
NEXT PLC |
|
Ultimate Holding Company |
NEXT PLC |
|
Trading Address |
DESFORD RD,ENDERBY,LEICESTER,LE19 4AT |
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Telephone |
08454-567777 |
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There is a high degree of confidence this company will prove good for
the assigned Credit Limit |
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Credit Limit |
GBP 30,000,000 |
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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 136,088,900 |
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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
|
Legal Form |
Public Limited Liability Company (GB) |
|
Registration Number |
04412362 |
|
Date of Incorporation |
09/04/2002 |
|
Registered Office |
Desford Road, Enderby, Leicester, LE19 4AT |
|
Date of Last
Annual Return to Registry |
08/06/2007 |
|
Activities |
Retailers of clothing |
|
Accounts |
The last filed accounts cover the period to 27/01/2007 and were filed
on 22/05/2007 |
Recently Filed Documents
Details of the
most recent documents
|
Date Received |
Description |
|
08/06/2007 |
Annual Return |
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27/01/2007 |
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
|
DIRECTOR |
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Occupation |
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Address |
CEDARS GRANGE 73, BAKERS LANE KNOWLE , SOLIHULL , WEST
MIDLANDS , B93 8PW |
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Date of Birth |
27/03/1963 |
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Appointment Date |
09/09/2002 |
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Other Appointments |
NEXT GROUP PLC, NEXT PLC |
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|
DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
ASPLEY HOUSE , BEDFORD ROAD ASPLEY GUISE , MILTON KEYNES
, BUCKS , MK17 8DQ |
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|
Country
of Origin |
BRITISH |
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|
Date of Birth |
27/10/1967 |
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|
Appointment Date |
09/09/2002 |
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Other Appointments |
CLUB 24 LIMITED, FIRST RETAIL FINANCE LIMITED, LIME CLOTHING
LIMITED, LIME RETAIL LIMITED, NEXT BRAND LIMITED, NEXT
DISTRIBUTION LIMITED, NEXT FINANCIAL SERVICES LIMITED, NEXT GROUP
PLC, NEXT NEAR EAST LIMITED, NEXT PLC, NEXT PROPERTIES
LTD, NEXT RETAIL LIMITED, NEXT SOURCING (UK) LIMITED, OPEN
EUROPE LIMITED, PAIGE GROUP LIMITED(THE), THE NEXT DIRECTORY
LIMITED, V.C.S.M. LIMITED, VENTURA (UK) INDIA LIMITED, VENTURA
CUSTOMER SERVICE MANAGEMENT LIMITED, VENTURA GROUP LIMITED, VENTURA
NETWORK DISTRIBUTION LIMITED |
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DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
DINGLEY HOUSE 25, HARBOROUGH ROAD DINGLEY , MARKET
HARBOROUGH , LEICS , LE16 8PJ |
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Country
of Origin |
BRITISH |
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|
Date of Birth |
16/08/1953 |
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Appointment Date |
09/09/2002 |
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Other Appointments |
BRITISH SATELLITE SYSTEMS LIMITED, CHOICE DISCOUNT STORES LIMITED, CLUB
24 LIMITED, COTTON TRADERS HOLDINGS LIMITED, FIRST RETAIL FINANCE
LIMITED, LIME CLOTHING LIMITED, LIME RETAIL LIMITED, NEXT
BRAND LIMITED, NEXT DISTRIBUTION LIMITED, NEXT FINANCIAL SERVICES
LIMITED, NEXT GROUP PLC, NEXT NEAR EAST LIMITED, NEXT
PLC, NEXT PROPERTIES LTD, NEXT RETAIL LIMITED, NEXT SOURCING
(UK) LIMITED, PAIGE GROUP LIMITED(THE), THE NEXT DIRECTORY
LIMITED, V.C.S.M. LIMITED, VENTURA (UK) INDIA LIMITED, VENTURA
CUSTOMER SERVICE MANAGEMENT LIMITED, VENTURA GROUP LIMITED, VENTURA
NETWORK DISTRIBUTION LIMITED |
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DIRECTOR |
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Occupation |
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Address |
10, ELSHAM ROAD , LONDON , W14 8HA |
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Date of Birth |
04/01/1945 |
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Appointment Date |
09/09/2002 |
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Other Appointments |
GREGGS PLC, NEXT PLC, SCHRODER MIDDLE EAST LIMITED, ST.
JAMES'S PLACE PLC |
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DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
80, BEESTON FIELDS DRIVE BRAMCOTE , NOTTINGHAM
, NG9 3TD |
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Country
of Origin |
BRITISH |
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Date
of Birth |
27/09/1950 |
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Appointment
Date |
09/09/2002 |
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Other Appointments |
NEXT DISTRIBUTION LIMITED, NEXT GROUP PLC, NEXT NEAR EAST
LIMITED, NEXT PLC, NEXT RETAIL LIMITED, PAIGE GROUP
LIMITED(THE) |
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DIRECTOR |
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Occupation |
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Address |
61, MURRAY ROAD WIMBLEDON VILLAGE , LONDON
, SW19 4PF |
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Date of Birth |
26/09/1950 |
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Appointment Date |
25/06/2003 |
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Other Appointments |
BRITISH AMERICAN RACING (HOLDINGS) LIMITED, CAPS SOLUTIONS
LIMITED, CHOUGH MEDIA LTD., I-DOCUMENTSYSTEMS TRUSTEES
LIMITED, IDOX INFORMATION SERVICES LIMITED, IDOX PLC , IDOX
SOFTWARE LTD, INSIDE TRACK 2 LLP, INSIDE TRACK 3 LLP, NEXT
PLC, THE CAMELOT FOUNDATION |
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DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
23, COULSON STREET , LONDON , SW3 3NA |
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Country
of Origin |
BRITISH |
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Date
of Birth |
29/02/1952 |
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Appointment Date |
13/05/2004 |
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Other Appointments |
CLYDESDALE BANK PLC, GALLIFORD TRY PLC, LONDON PHILHARMONIC
ORCHESTRA LIMITED, NATIONAL AUSTRALIA GROUP EUROPE LIMITED, NEXT
PLC, PENFIDA PARTNERS LLP |
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DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
THE OLD VICARAGE 33, ERMINE STREET THUNDRIDGE , WARE
, HERTS , SG12 0SY |
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Country
of Origin |
BRITISH |
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Date of Birth |
13/06/1951 |
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Appointment Date |
19/01/2005 |
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Other Appointments |
CHRISTINE CROSS LIMITED, NEXT PLC |
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|
DIRECTOR |
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Occupation |
DIRECTOR |
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Address |
SUNBURY , FITZROY PARK , LONDON , N6 6HX |
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Country
of Origin |
BRITISH |
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Date
of Birth |
15/03/1952 |
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Appointment
Date |
01/06/2007 |
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Other Appointments |
"CHANNING HOUSE"INCORPORATED
HIGHGATE, ELEUTHERA LIMITED, KIRBYBROOK LIMITED, NEXT
PLC, PALLADIAN INVESTMENTS LIMITED, PALLADIAN MIDCO
LIMITED, PALLADIAN PARTNERS LIMITED, WHITEHEAD MANN GROUP
LIMITED, WHITEHEAD MANN LIMITED |
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|
DIRECTOR |
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Occupation |
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Address |
33, RUTLAND COURT , LONDON , SW7 1BW |
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Date of Birth |
23/08/1944 |
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Appointment Date |
09/09/2002 |
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Other Appointments |
BRIT INSURANCE HOLDINGS PLC, GENERAL INSURANCE STANDARDS COUNCIL
, MATHESON & CO.,LIMITED, NEXT PLC, OPEN EUROPE
LIMITED, ORCHID CANCER APPEAL , WH SMITH PLC |
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SECRETARY |
MR ANDREW MCKINLAY |
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Address |
THE WHITE COTTAGE, MAIN ROAD PLUMTREE , NOTTINGHAM
, NG12 5NB |
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|
Country
of Origin |
BRITISH |
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Appointment Date |
31/10/2003 |
Recently Resigned Directors (last
3)
|
DIRECTOR |
DAVID CHARLES JONES |
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Occupation |
DIRECTOR |
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Address |
WHINBRAE , WHEATLEY LANE , ILKLEY , WEST YORKSHIRE
, - - |
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Country of Origin |
BRITISH |
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Date of Birth |
02/02/1943 |
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Resignation Date |
17/05/2006 |
|
DIRECTOR |
JULIA ANN BURDUS |
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Occupation |
MARKETING |
|
Address |
113 CRANMER COURT , WHITEHEADS GROVE , LONDON
, - - |
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Date of Birth |
04/09/1933 |
|
Resignation Date |
13/05/2004 |
|
DIRECTOR |
ALISTAIR CAMPBELL MITCHELL INNES |
|
Address |
HAWTHORN HOUSE , THORNDOWN LANE , WINDLESHAM , SURREY
, - - |
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Date of Birth |
01/03/1934 |
|
Resignation Date |
13/05/2004 |
Share Summary
|
Share information is not held for this company. |
Mortgages and Charges
There are no mortgages
Public Record Information
Summary of
CCJ's/Scottish Decrees
There are 7 exact unsatisfied CCJs totalling GBP 6125 in the last 72
months
Details
of most recent CCJ's/Scottish Decrees
|
03/03/2008, a Judgment of "GBP" 456 was made in NOTTINGHAM
court (Case No. 8NG00731 ) against Next PLC, Desford Rd, Enderby, Leicester,
Leicestershire, LE19 4AT |
|
13/02/2008, a Judgment of "GBP" 797 was made in ALTRINCHAM
court (Case No. 8AL00350 ) against Next PLC, R/o Desford Rd Enderby, Leicester,
Leicestershire, LE19 4AT |
|
29/11/2007, a Judgment of "GBP" 162 was made in NORTHAMPTON
court (Case No. 7QT51363 ) against Next PLC, Desford Rd Enderby, Leicester,
Leicestershire, LE19 4AT |
|
24/09/2007, a Judgment of "GBP" 4180 was made in MANCHESTER
court (Case No. 7MA15472 ) against Next PLC, Desford Rd Enderby, Leicester,
Leicestershire, LE19 4AT |
|
30/07/2007, a Judgment of "GBP" 117 was made in SALFORD
court (Case No. 7SF00747 ) against Next PLC, Defford Rd Enderby, Leicester,
Leicestershire, LE19 4AT |
|
26/03/2007, a Judgment of "GBP" 183 was made in LEEDS court
(Case No. 7LS01332 ) against Next PLC, West Riding Ho, 67 Albion St, Leeds,
West Yorkshire, LS1 5AA |
|
01/11/2006, a Judgment of "GBP" 230 was made in BIRMINGHAM
court (Case No. 6BM10818 ) against Next PLC, Desford Rd Enderby, Leicester,
Leicestershire, LE19 4AT |
|
14/02/2006, a Judgment of "GBP" 431 was
"Satisfied" in Leeds court (Case No. 6LS00370 ) against , , , , |
|
24/06/2005, a Judgment of "GBP" 309 was
"Satisfied" in NORTHAMPTON court (Case No. 5NN03073 ) against Next
PLC, Desford Rd Enderby, Leicester, Leicestershire, LE19 4AT |
Operations
|
Activities |
Retailers of clothing |
|
Sic Code |
Description |
|
5243 |
Retail sale of footwear and leather goods |
|
5242 |
Retail sale of clothing |
|
Staff Employed |
54602 |
|
Auditors |
Ernst & Young LLP |
|
Auditors Notes |
No Qualification. The Auditors have expressed a clean opinion (i.e.
unqualified with no referrals) on the latest accounts. |
Financial Data
|
The following figures are shown in units of 000 |
Profit and Loss
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
27/01/2007 |
28/01/2006 |
29/01/2005 |
31/01/2004 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Consolidated? |
Yes |
Yes |
Yes |
Yes |
|
SALES |
3,283,800 |
3,106,200 |
2,858,500 |
2,516,000 |
|
Export Sales |
158,000 |
132,000 |
- |
77,700 |
|
Other operating income |
1,400 |
2,100 |
- |
- |
|
Cost of goods sold |
2,372,300 |
2,241,100 |
1,962,000 |
1,762,500 |
|
GROSS PROFIT |
911,500 |
865,100 |
896,500 |
753,500 |
|
Other Expenses |
222,800 |
232,200 |
195,900 |
158,900 |
|
General administration costs (-) |
182,600 |
166,100 |
261,700 |
226,000 |
|
Wages and Salaries |
625,700 |
578,500 |
526,000 |
439,000 |
|
Depreciation |
102,300 |
81,200 |
75,200 |
66,700 |
|
Net Operating Profit(Loss) |
507,500 |
468,900 |
438,900 |
368,600 |
|
Non Trading Income |
4,000 |
1,100 |
1,600 |
300 |
|
Other financial income |
14,500 |
6,300 |
- |
2,000 |
|
Total Non Trading Income |
18,500 |
7,400 |
3,800 |
2,300 |
|
Interest expenses & similar (-) |
47,600 |
21,700 |
19,800 |
17,600 |
|
Financial Expenses |
47,600 |
27,200 |
19,800 |
17,600 |
|
PRE TAX PROFIT |
478,400 |
449,100 |
422,900 |
353,300 |
|
Other Taxation |
-21,200 |
7,800 |
3,800 |
100 |
|
Taxation |
168,100 |
127,800 |
118,100 |
108,000 |
|
PROFIT AFTER TAX |
331,500 |
313,500 |
301,000 |
245,200 |
|
Net Profit |
331,500 |
313,500 |
301,000 |
245,200 |
|
Dividends Payable |
103,600 |
104,400 |
103,000 |
89,300 |
|
RETAINED PROFITS |
227,900 |
209,100 |
198,000 |
155,900 |
Balance Sheet
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
27/01/2007 |
28/01/2006 |
29/01/2005 |
31/01/2004 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
|
Consolidated? |
Yes |
Yes |
Yes |
Yes |
|
TOTAL FIXED ASSETS |
588,600 |
875,300 |
455,500 |
458,800 |
|
Land & buildings |
71,400 |
72,200 |
74,700 |
81,600 |
|
Plant, machinery & equipment |
473,000 |
441,900 |
347,400 |
274,100 |
|
Intermediate Assets |
2,300 |
2,800 |
1,500 |
66,900 |
|
Other long term assets |
5,700 |
322,200 |
- |
- |
|
Intangible Assets |
36,200 |
36,200 |
31,900 |
36,200 |
|
TOTAL CURRENT ASSETS |
982,400 |
911,600 |
809,900 |
710,200 |
|
Stocks |
281,800 |
- |
301,600 |
269,400 |
|
Trade Debtors |
468,500 |
415,400 |
349,000 |
303,000 |
|
Other Receivables |
15,200 |
12,200 |
8,700 |
12,800 |
|
Prepaid expenses |
92,400 |
84,800 |
74,200 |
60,000 |
|
Group Loans |
1,600 |
1,400 |
4,100 |
2,700 |
|
Cash |
121,700 |
69,800 |
72,300 |
62,300 |
|
own shares |
1,200 |
328,000 |
- |
- |
|
TOTAL ASSETS |
1,571,000 |
1,786,900 |
1,265,400 |
1,169,000 |
|
TOTAL CURRENT LIABILITIES |
738,500 |
755,500 |
620,100 |
576,600 |
|
Trade Creditors |
174,300 |
173,400 |
156,700 |
131,900 |
|
Bank Overdraft |
12,600 |
131,700 |
22,300 |
68,400 |
|
Taxes |
146,700 |
61,800 |
113,000 |
102,500 |
|
Other Current Liabilities |
404,400 |
388,100 |
257,100 |
211,600 |
|
Hire Purchase |
500 |
500 |
200 |
200 |
|
WORKING CAPITAL |
243,900 |
156,100 |
189,800 |
133,600 |
|
TOTAL LONG TERM LIABS |
643,200 |
775,200 |
372,600 |
371,400 |
|
Total Hire Purchase / Leasing |
1,800 |
2,100 |
600 |
600 |
|
Other Long Term Liabilities |
641,400 |
773,100 |
372,000 |
362,100 |
|
NET ASSETS/(LIABILITIES) |
832,500 |
1,031,400 |
645,300 |
592,400 |
|
SHARE CAPITAL + RESERVES |
189,300 |
256,200 |
272,700 |
221,000 |
|
Issued Share Capital |
22,700 |
24,600 |
26,100 |
26,500 |
|
Share Premium Accounts |
700 |
700 |
600 |
600 |
|
Reserves |
-1,531,300 |
-1,519,900 |
-1,529,000 |
-1,431,500 |
|
Profit and Loss account |
1,697,200 |
1,750,800 |
1,775,000 |
1,625,400 |
|
SHAREHOLDERS FUNDS |
189,300 |
256,200 |
272,700 |
221,000 |
|
CAPITAL EMPLOYED |
832,500 |
1,031,400 |
645,300 |
592,400 |
|
TANGIBLE NET WORTH |
153,100 |
220,000 |
240,800 |
184,800 |
Key Credit Ratios
|
Accounts Date |
27/01/2007 |
28/01/2006 |
29/01/2005 |
31/01/2004 |
|
Current Ratio |
1.33 |
1.21 |
1.31 |
1.23 |
|
Profit Before Tax |
0.15 |
0.14 |
0.15 |
0.14 |
|
Creditors Days (D.P.O) |
26.82 |
28.24 |
29.15 |
27.32 |
|
Quick Ratio |
0.95 |
- |
0.82 |
0.76 |
|
Return on Assets |
31.33 |
31.50 |
34.33 |
33.15 |
|
T.N.W/Total Assets |
0.10 |
0.12 |
0.19 |
0.16 |
|
Return on Capital |
57.47 |
43.54 |
65.54 |
59.64 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
|
Equity Gearing |
0.00 |
0.00 |
0.01 |
0.00 |
|
Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
|
Solvency (%) |
902.48 |
695.77 |
412.25 |
512.99 |
Financial Summary
|
Turnover |
Turnover increased by more than 6% in the period. Turnover totalled
GBP 3,283,800,000 for the period. |
|
Operating Profit |
Totalled GBP 507,500,000 In the period prior a profit of GBP
468,900,000 was achieved. |
|
Pre Tax |
The subject made a profit of GBP 478,400,000 compared with a
profit of GBP 449,100,000 in the previous period. |
|
Working Capital |
The company's working capital improved in the period by 56% |
|
Tangible Net Worth |
Net worth reduced by 66,900,000 during the period and now stands at
GBP 153,100,000 |
|
Fixed Assets |
The subjects fixed assets increased during the period by GBP
30,300,000 to GBP 544,400,000 and are now 35% of total assets
compared with 29% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities reduced during the period by 17%
and are now 420% of net worth compared with 352% in the previous period |
|
Long Term Liabilities |
Long term liabilities are now 41% of total assets compared with 43% in
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. |
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%)