%20LIMITED%2006-Nov-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
06.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
GRABAL ALOK (UK) LIMITED |
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Formerly Known as : |
HAMSARD 2353 LIMITED |
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Registered Office : |
Tureck House, Drayton Road,
Shirley, Solihull B90 4NG |
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Country : |
United Kingdom |
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Financials (as on) : |
29.03.2008 |
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Date of Incorporation : |
04.07.2001 |
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Legal Form : |
Private Limited with Share Capital |
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Line of Business : |
A Group Engaged In Retailing of Clothing and Homewares. |
RATING &
COMMENTS
|
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 |
Name of the company
GRABAL ALOK (UK) LIMITED
Number 04246489
company summary
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Phone |
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Type |
Private limited with Share
Capital |
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Address |
TURECK HOUSE, |
Company Status |
Active - Accounts Filed |
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Postcode |
B90 4NG |
Incorporated Date |
04/07/2001 |
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Active CCJ's |
0 |
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Value of CCJ's [£] |
£0 |
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|
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Number Of Writs |
0 |
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Current Directors |
12 |
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Total Directorships |
53 |
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|
|
Trading to Date |
29/03/08 |
31/03/07 |
02/04/06 |
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|
Turnover |
£94,709,000 |
£99,412,000 |
£199,014,000 |
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|
Shareholder Funds |
£7,079,000 |
£-16,549,000 |
£10,999,000 |
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|
Employees |
1,511 |
1,523 |
2,791 |
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Trends |
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Profitability |
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Liquidity |
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Shareholders Funds |
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%20LIMITED%2006-Nov-2008_files/image003.gif){kind=small}
company information
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Registered Address |
Trading Address |
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Telephone Number |
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Telephone Number |
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TPS |
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TPS |
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Address |
Address |
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TURECK HOUSE |
Tureck House |
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Web Address |
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Incorporation Date |
04/07/2001 |
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Type of Accounts |
Group |
Filing Date of Accounts |
16/07/2008 |
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Company Type |
Private Limited With Share Capital |
Date of Latest Accounts |
29/03/2008 |
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Annual Return |
04/07/2008 |
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Previous Name(s) |
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Changed: |
02/04/2007 |
Hamsard 2353 Limited |
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Industry: |
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A Group Engaged In Retailing Of Clothing And Homewares. |
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SIC Code |
Description |
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|
5242 |
Retail Sale Of Clothing |
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Mortgage Charges |
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Outstanding |
9 |
Satisfied |
1 |
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Shareholders |
|||
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Share Capital |
429161.71 |
Currency |
Gbp |
Previous Names Details
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Previous Name(s) |
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Changed : |
02/04/2007 |
Hamsard 2353 Limited |
Secondary Industry Code Details
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|
SIC Code |
Description |
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|
5242 |
Retail Sale Of Clothing |
Mortgage Details
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|
Mortgage Type: |
rent deposit deed containing charge |
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Date Charge Created: |
08/07/2008 |
Date Charge Registered: |
25/07/2008 |
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Date Charge Satisfied: |
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Status: |
Outstanding |
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Person(s) Entitled: |
THREADNEEDLE PENSIONS LIMITED |
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Amount Secured: |
£19,250.00 and all other monies due or to become due from the company
to the chargee |
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Details: |
the rent deposit relating to a lease of unit 5, 11-16 biggin street,
dover and each and every debt represented by this rent deposit |
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Mortgage Type: |
deed of security over accounts |
||
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Date Charge Created: |
29/06/2007 |
Date Charge Registered: |
16/07/2007 |
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Date Charge Satisfied: |
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Status: |
Outstanding |
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Person(s) Entitled: |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
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Amount Secured: |
all monies due or to become due from any obligor to any finance party
on any account whatsoever under the terms of the aforementioned instrument
creating or evidencing the charge |
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Details: |
assigns absolutely all of its rights, title and interest to and in
each deposit, and to the accounts |
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Mortgage Type: |
supplemental legal charge |
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Date Charge Created: |
02/06/2006 |
Date Charge Registered: |
08/06/2006 |
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Date Charge Satisfied: |
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Status: |
Outstanding |
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Person(s) Entitled: |
BARCLAYS BANK PLC |
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Amount Secured: |
all monies due or to become due from eac h initial charging company to
the charge e on any account whatsoever under the terms of the aforementioned
instrument creating or evidencing the charge |
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Details: |
44 high street, epson, surrey t/no sy743 966; 66 high street, christchurch
t/no d t335027; 54-56 high street, bognor regis t/no wsx294440 (for details
of further property charged please refer to form 39 5) by way of first legal
mortgage all it s present and future right, title and in terest in and to the
property and all bu ildings and fixtures (including trade fi xtures) and
fixed plant and machinery; a ll easements and agreements; all proceed s of
sale; the benefit of all covenants given in respect of the property |
||
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Mortgage Type: |
guarantee & debenture |
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Date Charge Created: |
04/05/2005 |
Date Charge Registered: |
13/05/2005 |
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Date Charge Satisfied: |
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Status: |
Outstanding |
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Person(s) Entitled: |
WHITTALLS WINES LIMITED AS SECURITY TRUSTEE ON BEHALF OF THE
BENEFICIARIES |
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Amount Secured: |
all monies due or to become due from eac h of the charging companies
to each of t he beneficiaries under the terms of the aforementioned
instrument creating or evidencing the charge |
||
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Details: |
01 fixed and floating charges over the undertaking and all property
and assets present and future including goodwill bookdebts uncalled capital
buildings fixturesfixed plant and machinery. |
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Mortgage Type: |
guarantee & debenture |
||
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Date Charge Created: |
04/05/2005 |
Date Charge Registered: |
21/06/2006 |
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Date Charge Satisfied: |
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Status: |
Outstanding |
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Person(s) Entitled: |
WHITTALS WINES LIMITED ACTING AS SECURITY TRUSTEE ON BEHALF OF THE
BENEFICIARIES |
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Amount Secured: |
all sums due, or to become due. |
||
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Details: |
01 fixed and floating charges over the undertaking and all property
and assets present and future including goodwill bookdebts uncalled capital buildings
fixturesfixed plant and machinery. |
||
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Mortgage Type: |
supplemental deed to a composite guarantee and debenture dated 25
february 2003and |
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Date Charge Created: |
04/10/2003 |
Date Charge Registered: |
14/06/2006 |
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Date Charge Satisfied: |
|
Status: |
Outstanding |
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Person(s) Entitled: |
BARCLAYS BANK PLC |
||
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|
Amount Secured: |
all monies due or to become due from the company to the chargee under the
termsof the aforementioned instrument creating or evidencing the charge |
||
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|
Details: |
the property k/a 61-63 high street, tonb ridge and the property k/a 27
market str eet, falmouth and the property k/a 15 th e borough, farnham for further
property charged please refer to the form 395 |
||
accounts
|
|
Annual Accounts |
03/07-03/08 |
Change (%) |
04/06-03/07 |
Change (%) |
01/05-04/06 |
|
|
Months |
13 |
- |
12 |
- |
16 |
|
|
Currency |
GBP |
- |
GBP |
- |
GBP |
|
|
Consolidated A/cs |
Y |
- |
Y |
- |
Y |
|
|
Turnover |
94,709,000 |
-4.7 % |
99,412,000 |
-50.0 % |
199,014,000 |
|
|
Export |
- |
- |
- |
- |
- |
|
|
Cost of Sales |
104,776,000 |
-5.9 % |
111,390,000 |
-48.5 % |
216,344,000 |
|
|
Gross Profit |
-10,067,000 |
16.0 % |
-11,978,000 |
30.9 % |
-17,330,000 |
|
|
Wages & Salaries |
23,957,000 |
-0.5 % |
24,073,000 |
-42.3 % |
41,707,000 |
|
|
Directors Emoluments |
919,000 |
31.3 % |
700,000 |
-18.5 % |
859,000 |
|
|
Operating Profits |
-23,227,000 |
17.0 % |
-27,993,000 |
-103.0 % |
-13,789,000 |
|
|
Depreciation |
2,514,000 |
-5.6 % |
2,662,000 |
-44.5 % |
4,795,000 |
|
|
Audit Fees |
62,000 |
-51.9 % |
129,000 |
- |
- |
|
|
Interest Payments |
1,572,000 |
164.6 % |
594,000 |
-71.5 % |
2,084,000 |
|
|
Pre Tax Profit |
-24,696,000 |
10.4 % |
-27,548,000 |
-51.2 % |
-18,218,000 |
|
|
Taxation |
- |
- |
- |
-100.0 % |
1,000 |
|
|
Profit After Tax |
-24,696,000 |
10.4 % |
-27,548,000 |
-51.2 % |
-18,217,000 |
|
|
Dividends Payable |
- |
- |
- |
- |
- |
|
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Retained Profits |
-24,696,000 |
10.4 % |
-27,548,000 |
-51.2 % |
-18,217,000 |
|
|
Annual Accounts |
03/07-03/08 |
Change (%) |
04/06-03/07 |
Change (%) |
01/05-04/06 |
|
|
Tangible Assets |
13,336,000 |
63.1 % |
8,175,000 |
-44.8 % |
14,810,000 |
|
|
Intangible Assets |
- |
- |
- |
-100.0 % |
1,000,000 |
|
|
Total Fix Assets |
13,336,000 |
63.1 % |
8,175,000 |
-48.3 % |
15,810,000 |
|
|
Total Current Assets |
29,852,000 |
72.2 % |
17,333,000 |
-44.0 % |
30,959,000 |
|
|
Trade Debtors |
- |
- |
- |
- |
- |
|
|
Stock |
16,731,000 |
45.3 % |
11,513,000 |
-10.6 % |
12,876,000 |
|
|
Cash |
5,310,000 |
132.5 % |
2,284,000 |
-75.1 % |
9,182,000 |
|
|
Other Current Assets |
7,811,000 |
120.9 % |
3,536,000 |
-60.3 % |
8,901,000 |
|
|
Increase In Cash |
3,026,000 |
143.9 % |
-6,898,000 |
-203.9 % |
6,637,000 |
|
|
Miscellaneous Current
Assets |
- |
- |
- |
- |
- |
|
|
Total Assets |
43,188,000 |
69.3 % |
25,508,000 |
-45.5 % |
46,769,000 |
|
|
Total Current Liabilities |
32,084,000 |
24.8 % |
25,713,000 |
-12.9 % |
29,505,000 |
|
|
Trade Creditors |
4,582,000 |
-38.6 % |
7,462,000 |
22.5 % |
6,089,000 |
|
|
Bank Overdraft |
21,945,000 |
267.8 % |
5,967,000 |
-54.9 % |
13,237,000 |
|
|
Other Short Term Fin |
16,000 |
-84.8 % |
105,000 |
-70.0 % |
350,000 |
|
|
Miscellaneous Current
Liabilities |
5,541,000 |
-54.5 % |
12,179,000 |
23.9 % |
9,829,000 |
|
|
Other Long Term Fin |
2,000,000 |
-85.7 % |
14,016,000 |
999.9% |
265,000 |
|
|
Total Long Term
Liabilities |
4,025,000 |
-75.4 % |
16,344,000 |
160.9 % |
6,265,000 |
|
|
Bank Overdraft & LTL |
25,970,000 |
16.4 % |
22,311,000 |
14.4 % |
19,502,000 |
|
|
Total Liabilities |
36,109,000 |
-14.1 % |
42,057,000 |
17.6 % |
35,770,000 |
|
|
Net Assets |
7,079,000 |
142.8 % |
-16,549,000 |
-250.5 % |
10,999,000 |
|
|
Working Capital |
-2,232,000 |
73.4 % |
-8,380,000 |
-676.3 % |
1,454,000 |
|
|
Annual Accounts |
03/07-03/08 |
Change (%) |
04/06-03/07 |
Change (%) |
01/05-04/06 |
|
|
Paid up equity |
421,000 |
709.6 % |
52,000 |
- |
52,000 |
|
|
P&L Account Reserve |
-69,745,000 |
-54.8 % |
-45,049,000 |
-157.4 % |
-17,501,000 |
|
|
Sundry Reserves |
75,068,000 |
163.9 % |
28,448,000 |
- |
28,448,000 |
|
|
Revaluation Reserve |
1,335,000 |
- |
- |
- |
- |
|
|
Shareholder Funds |
7,079,000 |
142.8 % |
-16,549,000 |
-250.5 % |
10,999,000 |
|
|
Net Worth |
7,079,000 |
142.8 % |
-16,549,000 |
-265.5 % |
9,999,000 |
|
|
Annual Accounts |
03/07-03/08 |
Change (%) |
04/06-03/07 |
Change (%) |
01/05-04/06 |
|
|
Net Cashflow from
Operations |
-33,854,000 |
-27.1 % |
-26,640,000 |
-305.5 % |
-6,570,000 |
|
|
Net Cashflow before
Financing |
-40,028,000 |
-74.7 % |
-22,917,000 |
-1,124.9 % |
-1,871,000 |
|
|
Net Cashflow from
Financing |
44,666,000 |
91.8 % |
23,289,000 |
565.0 % |
3,502,000 |
|
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
|
|
Capital Employed |
11,104,000 |
999.9% |
-205,000 |
-101.2 % |
17,264,000 |
|
|
No of Employees |
1,511 |
-0.8 % |
1,523 |
-45.4 % |
2,791 |
|
|
Auditors |
BAKER TILLY UK AUDIT LLP |
|
|
AuditQualification |
Adverse Comments |
|
|
Bankers |
BARCLAYS BANK PLC |
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|
BankBranchCode |
20-12-75 |
|
|
Annual Accounts |
03/07-03/08 |
04/06-03/07 |
01/05-04/06 |
|
|
Pre-tax profit margin % |
-26.1 % |
-27.7 % |
-9.2 % |
|
|
Current ratio |
0.93 |
0.67 |
1.05 |
|
|
Sales/Net Working Capital |
-42.43 |
-11.86 |
136.87 |
|
|
Gearing % |
366.9 % |
-134.8 % |
177.3 % |
|
|
Equity in % |
16.4 % |
-64.9 % |
24.0 % |
|
|
Creditor Days |
17.61 |
27.32 |
13.06 |
|
|
Debtor Days |
- |
- |
- |
|
|
Liquidity/Acid Test |
0.41 |
0.23 |
0.61 |
|
|
Return On Capital Employed
% |
-222.4 % |
13,438.1 % |
-105.5 % |
|
|
Return On Total Assets
Employed % |
-57.2 % |
-108.0 % |
-39.0 % |
|
|
Current Debt Ratio % |
4.5 % |
-1.6 % |
2.7 % |
|
|
Total Debt Ratio % |
5.1 % |
-2.5 % |
3.3 % |
|
|
Stock Turnover Ratio % |
17.7 % |
11.6 % |
6.5 % |
|
|
Return on Net Assets
Employed % |
-348.9 % |
166.5 % |
-165.6 % |
GROUP STRUCTURE
|
|
Ultimate Parent Company |
GRABAL ALOK IMPEX |
|
|
Companies in Group |
10 |
|
|
Company Name |
Registered Number |
Latest Annual Accounts |
|
|
GRABAL ALOK IMPEX |
INDIA |
N/A |
|
|
GRABAL ALOK INTERNATIONAL LTD |
INDIA |
N/A |
|
|
GRABAL ALOK (UK) LIMITED<<< |
04246489 |
29/03/2008 |
|
|
BE WISE GROUP LIMITED |
02335205 |
29/03/2008 |
|
|
BE-WISE LIMITED |
01283466 |
29/03/2008 |
|
|
BEWISE CARD HANDLING SERVICES LIMITED |
04112698 |
29/03/2008 |
|
|
QS GROUP PLC |
02122408 |
29/03/2008 |
|
|
QS PROPERTIES LIMITED |
02018217 |
29/03/2008 |
|
|
QS PLC |
01682473 |
29/03/2008 |
|
|
QS (WEST) LIMITED |
02648680 |
29/03/2008 |
STATUS HISTORY
|
Date |
Description |
|
08/08/2007 |
Completion Of Vol Arrangement |
|
29/06/2006 |
End Of Administration |
|
26/06/2006 |
End Of Administration |
|
06/04/2006 |
Voluntary Arrangements |
|
23/02/2006 |
App Of Administrator (gazette) |
|
21/02/2006 |
Appointment Of Administrator |
EVENT HISTORY
|
Date |
Description |
|
27/09/2008 |
Mr P.k. Dhamecha Has Left The Board |
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16/08/2008 |
New Board Member Mr S. Jiwrajka Appointed |
|
01/08/2008 |
Annual Returns |
|
23/07/2008 |
New Accounts Filed |
|
15/02/2008 |
New Board Member I. Vaswani Appointed |
|
08/11/2007 |
New Accounts Filed |
|
08/11/2007 |
New Accounts Filed |
|
02/10/2007 |
Annual Returns |
|
07/06/2007 |
New Board Member (david Pidgeon) Appointed |
|
02/05/2007 |
New Accounts Filed |
|
04/04/2007 |
Change Of Name |
|
27/03/2007 |
Rajinder Singhchatha Has Left The Board |
|
15/03/2007 |
Mark Philipfontaine Has Left The Board |
|
22/02/2007 |
New Board Member (anthony Johnwoodhouse) Appointed |
|
16/01/2007 |
New Company Secretary (mark John Jameslittle) Appointed |
DIRECTORS
|
|
Name |
Surendra Jiwrajka |
|
|
|
|
Address |
901, Palm Beach, Pochkhan Wala Road |
|
|
|
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|
Worli, Mumbai |
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|
|
|
Mumbai |
||
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|
India |
||
|
|
Officers Title |
Mr |
Date Of Birth |
17/10/1958 |
|
|
Honours |
|
Present Appointments |
1 |
|
|
Appointment Date |
14/07/2008 |
Function |
Director |
|
|
|
|
|
|
|
|
Name |
Janice Lorraine Laight |
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|
|
|
Address |
Swift Barn,townsend Farm Farnborough Road |
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|
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Radway |
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|
Warwick |
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|
Warwickshire |
||
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|
United Kingdom |
||
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|
CV35 0UN |
||
|
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Officers Title |
Ms |
Date Of Birth |
09/08/1953 |
|
|
Honours |
|
Present Appointments |
1 |
|
|
Appointment Date |
14/07/2008 |
Function |
Director |
|
|
|
|
|
|
|
|
Name |
Catherine Norgate- Hart |
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|
|
|
Address |
Deep Mill Farm London Road |
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|
Little Kingshill |
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|
Great Missenden |
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|
Buckinghamshire |
||
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|
|
United Kingdom |
||
|
|
|
HP16 0DH |
||
|
|
Officers Title |
Ms |
Date Of Birth |
13/02/1960 |
|
|
Honours |
|
Present Appointments |
1 |
|
|
Appointment Date |
14/07/2008 |
Function |
Director |
|
|
|
|
|
|
|
|
Name |
Vivek Kapoor |
|
|
|
|
Address |
2 Blossomfield Gardens 34 Blossomfield Road |
|
|
|
|
|
Solihull |
||
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|
|
West Midlands |
||
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|
|
Uk |
||
|
|
|
B91 1NZ |
||
|
|
Officers Title |
Mr |
Date Of Birth |
12/07/1968 |
|
|
Honours |
|
Present Appointments |
7 |
|
|
Appointment Date |
15/05/2008 |
Function |
Company Secretary |
|
|
|
|
|
|
|
|
Name |
Indru Vaswani |
|
|
|
|
Address |
605 Silver Arch Apts |
|
|
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22 Ferozshah Road New Delhi |
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Delhi |
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110001 |
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India |
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Officers Title |
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Date Of Birth |
25/04/1951 |
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Honours |
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Present Appointments |
1 |
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Appointment Date |
21/01/2008 |
Function |
Director |
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Name |
Rangaswamy Narayan |
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Address |
Apt 93 Orion Building |
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90 Navigation Street |
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Birmingham |
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West Midlands |
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B5 4AA |
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Officers Title |
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Date Of Birth |
26/09/1950 |
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Honours |
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Present Appointments |
8 |
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Appointment Date |
14/12/2006 |
Function |
Director |
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Name |
Ashok Jiwrajka |
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Address |
301 Krishnakunj Shivaji Park Road |
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No 5 Mahim Mumbai |
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400016 |
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Maharashtra |
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Officers Title |
Mr |
Date Of Birth |
07/10/1950 |
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Honours |
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Present Appointments |
1 |
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Appointment Date |
14/12/2006 |
Function |
Director |
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Name |
Anupam Jhunjhunwala |
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Address |
33 Woodhouse Eaves |
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Northwood |
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Middlesex |
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HA6 3NF |
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Officers Title |
Mr |
Date Of Birth |
09/10/1971 |
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Honours |
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Present Appointments |
6 |
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Appointment Date |
02/02/2007 |
Function |
Director |
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Name |
Dilip Jiwrajka |
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Address |
6 Bay View, Abdul Gafar Khan Road |
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Worli Qea |
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Face Worli, Mumbai |
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Maharashtra |
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India |
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400 030 |
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Officers Title |
Mr |
Date Of Birth |
09/10/1956 |
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Honours |
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Present Appointments |
1 |
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Appointment Date |
22/05/2006 |
Function |
Director |
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Name |
Kingpal Singh Tatla |
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Address |
47 London Road |
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Langley |
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Slough |
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Berkshire |
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SL3 7RP |
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Officers Title |
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Date Of Birth |
13/05/1950 |
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Honours |
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Present Appointments |
1 |
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Appointment Date |
17/03/2003 |
Function |
Director |
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Name |
Findlay Martin Caldwell |
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Address |
Heronswood Ford Lane |
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Langley |
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Stratford Upon Avon |
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Warwickshire |
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CV37 0HN |
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Officers Title |
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Date Of Birth |
11/12/1951 |
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Honours |
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Present Appointments |
17 |
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Appointment Date |
01/11/2005 |
Function |
Director |
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Name |
Naresh Kumar Jerath |
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Address |
27 Woolsington Park South |
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Woolsington |
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Newcastle Upon Tyne |
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NE13 8BJ |
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Officers Title |
Mr |
Date Of Birth |
10/10/1961 |
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Honours |
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Present Appointments |
8 |
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Appointment Date |
07/12/2005 |
Function |
Director |
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FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.67 |
|
UK Pound |
1 |
Rs.75.47 |
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Euro |
1 |
Rs.61.19 |
RATING
EXPLANATIONS
|
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 |
|
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 |
|
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%)