MIRA INFORM REPORT
|
Report Date : |
02.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
KURT GEIGER LIMITED |
|
|
|
|
Formerly Known As : |
HOUSE OF FRASER (SHOES) LIMITED |
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|
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Registered Office : |
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Country : |
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Financials (as on) : |
30.01.2010 |
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Date of Incorporation : |
10.12.1969 |
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|
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Com. Reg. No.: |
00968046 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
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|
|
Line of Business : |
Retail sale of footwear & leather goods |
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 |
|
Maximum Credit Limit : |
£1,200,000 |
|
Status : |
Good |
|
Payment
Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Company summary
|
Company Name |
KURT GEIGER LIMITED |
Company Number |
00968046 |
|
Registered Address |
|
Trading Address |
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|
SE1 3XF |
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Website Address |
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Telephone Number |
02075461888 |
Fax Number |
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TPS |
No |
FPS |
No |
|
Incorporation Date |
10/12/1969 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
HOUSE OF FRASER (SHOES) LIMITED |
Type |
Private limited with Share Capital |
|
|
|
Filing Date of
Accounts |
18/10/2010 |
|
Date of Change |
31/01/1993 |
Share Capital |
£770,000 |
|
Sic Code |
5243 |
Currency |
GBP |
|
Sic Description |
RETAIL |
||
|
Principal Activity |
Design, distribution and retailing of high quality brand shoes and
accessories. |
||
Credit Limit
|
Limit |
£1,200,000 |
Previous Limit |
£1,000,000 |
|
Contract Limit |
£37,800,000 |
|
|
Commentary
|
Multiple CCJ’s recorded against the company. |
|
|
The credit limit on this company has risen 20% in comparison to the
previously suggested credit limit. |
|
|
The previous 12 month trading period saw a rise in Sales of 16%. |
|
|
In the previous 12 month trading period Net Worth increased by 30.5%. |
|
|
A 25.4% growth in Total Assets occurred in the previous 12 month
trading period. |
|
|
Pre-tax profits increased by 27.3% in the previous 12 month trading
period. |
|
|
The company saw an decrease in their Cash Balance of 58.4% in the
previous 12 month trading period. |
|
|
The audit report contains no adverse comments. |
|
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No recent changes in directorship are recorded. |
|
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The company is part of a group. |
|
|
The company has changed its year end on multiple occasions. |
|
|
The company was established over 40 years ago. |
|
Last 3 Years Limit
|
Date |
Rating |
Limit |
|
31/12/2010 |
93 |
£1,200,000 |
|
31/12/2009 |
86 |
£950,000 |
|
31/12/2008 |
93 |
£3,500,000 |
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
30/01/2010 |
£151,182,000 |
£10,545,000 |
£36,129,000 |
1047 |
|
31/01/2009 |
£130,275,000 |
£8,285,000 |
£27,865,000 |
928 |
|
02/02/2008 |
£114,778,000 |
£7,975,000 |
£33,252,000 |
878 |
CCJ
|
Total Number of Exact CCJs - |
2 |
Total Value of Exact CCJs - |
£208 |
|
Total Number of Possible CCJs - |
0 |
Total Value of Possible CCJs - |
|
|
Total Number of Satisfied CCJs - |
1 |
Total Value of Satisfied CCJs - |
£672 |
|
Total Number of Writs - |
0 |
|
|
Exact CCJ Details
|
Date |
Court |
Amount |
Status |
Case Number |
Date Paid |
|
16/05/2008 |
|
£115 |
Judgement |
8SM01135 |
- |
|
03/11/2006 |
|
£93 |
Judgement |
6QP56474 |
- |
|
27/04/2006 |
|
£672 |
Satisfied |
6XJ08043 |
10/07/2006 |
Possible CCJ Details
There are no possible CCJ details
Writ Details
There are no writ details
Mortgage Summary
|
Outstanding |
1 |
|
Satisfied |
4 |
|
Total Current Directors |
5 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
31 |
Current Directors
|
Name |
Rebecca Elizabeth Alden Farrar Hockley |
Date of Birth |
26/09/1971 |
|
Officers Title |
Ms |
Nationality |
British |
|
Present Appointments |
7 |
Function |
Director |
|
Appointment Date |
28/10/2002 |
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|
Address |
|
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Name |
Neil Charles Clifford |
Date of Birth |
11/02/1967 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
10 |
Function |
Director |
|
Appointment Date |
01/09/2003 |
|
|
|
Address |
|
||
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|
|
|
|
|
Name |
Dale Christilaw |
Date of Birth |
30/11/1970 |
|
Officers Title |
Mr |
Nationality |
Australian |
|
Present Appointments |
18 |
Function |
Director |
|
Appointment Date |
01/02/2004 |
|
|
|
Address |
64 Great Thrift, , |
||
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|
|
|
|
|
Name |
Andrew David Lee |
Date of Birth |
15/02/1957 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
7 |
Function |
Director |
|
Appointment Date |
22/02/2008 |
|
|
|
Address |
|
||
|
|
|
|
|
|
Name |
Sally McClymont |
Date of Birth |
30/09/1961 |
|
Officers Title |
Ms |
Nationality |
British |
|
Present Appointments |
6 |
Function |
Director |
|
Appointment Date |
02/01/2007 |
|
|
|
Address |
|
||
Current Company Secretary
|
Name |
Dale Christilaw |
Date of Birth |
30/11/1970 |
|
Officers Title |
Mr |
Nationality |
Australian |
|
Present Appointments |
18 |
Function |
Company Secretary |
|
Appointment Date |
04/07/2005 |
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|
|
Address |
64 Great Thrift, , |
||
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Top 20 Shareholders
|
Individual Share Value |
|
|
KURT GEIGER ACQUISITION LIMITED |
7,700,000 ORDINARY GBP 0.10 |
Profit & Loss
|
30/01/10 |
(%) |
31/01/09 |
(%) |
02/02/08 |
(%) |
03/02/07 |
(%) |
31/01/06 |
|
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
53 |
(%) |
52 |
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
Consolidated A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
Turnover |
£151,182,000 |
16% |
£130,275,000 |
13.5% |
£114,778,000 |
5.6% |
£108,717,000 |
16% |
£93,736,000 |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost of Sales |
£69,244,000 |
11.3% |
£62,212,000 |
16.5% |
£53,413,000 |
4.7% |
£51,010,000 |
16.9% |
£43,626,000 |
|
Gross Profit |
£81,938,000 |
20.4% |
£68,063,000 |
10.9% |
£61,365,000 |
6.3% |
£57,707,000 |
15.2% |
£50,110,000 |
|
Wages & Salaries |
£22,188,000 |
15.9% |
£19,148,000 |
8.9% |
£17,587,000 |
3.3% |
£17,018,000 |
11.1% |
£15,315,000 |
|
Directors Emoluments |
£1,808,000 |
45.2% |
£1,245,000 |
30.2% |
£956,000 |
26.5% |
£756,000 |
-36.7% |
£1,195,000 |
|
Operating Profit |
£10,470,000 |
28.8% |
£8,126,000 |
13% |
£7,192,000 |
15% |
£6,256,000 |
13.6% |
£5,509,000 |
|
Depreciation |
£2,986,000 |
29% |
£2,315,000 |
6.1% |
£2,182,000 |
21.2% |
£1,801,000 |
-1.5% |
£1,828,000 |
|
Audit Fees |
£46,000 |
2.2% |
£45,000 |
-10% |
£50,000 |
4.2% |
£48,000 |
6.7% |
£45,000 |
|
Interest Payments |
£219,000 |
-35.2% |
£338,000 |
- |
- |
-100% |
£53,000 |
657.1% |
£7,000 |
|
Pre Tax Profit |
£10,545,000 |
27.3% |
£8,285,000 |
3.9% |
£7,975,000 |
25% |
£6,379,000 |
15% |
£5,545,000 |
|
Taxation |
-£2,281,000 |
-999.9% |
-£172,000 |
90.5% |
-£1,816,000 |
-110.7% |
-£862,000 |
-2.1% |
-£844,000 |
|
Profit After Tax |
£8,264,000 |
1.9% |
£8,113,000 |
31.7% |
£6,159,000 |
11.6% |
£5,517,000 |
17.4% |
£4,701,000 |
|
Dividends Payable |
£13,500,000 |
- |
- |
- |
- |
- |
- |
- |
- |
|
Retained Profit |
-£5,236,000 |
-164.5% |
£8,113,000 |
31.7% |
£6,159,000 |
11.6% |
£5,517,000 |
17.4% |
£4,701,000 |
Balance Sheet
|
Date Of Accounts |
30/01/10 |
(%) |
31/01/09 |
(%) |
02/02/08 |
(%) |
03/02/07 |
(%) |
31/01/06 |
|
Tangible Assets |
£10,469,000 |
50.9% |
£6,939,000 |
27.7% |
£5,432,000 |
17.8% |
£4,613,000 |
9.4% |
£4,217,000 |
|
Intangible Assets |
£556,000 |
-9.6% |
£615,000 |
107.1% |
£297,000 |
- |
0 |
- |
0 |
|
Total Fixed Assets |
£11,025,000 |
45.9% |
£7,554,000 |
31.9% |
£5,729,000 |
24.2% |
£4,613,000 |
9.4% |
£4,217,000 |
|
Stock |
£24,698,000 |
22.3% |
£20,193,000 |
2.4% |
£19,716,000 |
0.1% |
£19,702,000 |
16.1% |
£16,970,000 |
|
Trade Debtors |
£11,434,000 |
14% |
£10,027,000 |
282.4% |
£2,622,000 |
-12.3% |
£2,990,000 |
-30% |
£4,269,000 |
|
Cash |
£2,356,000 |
-58.4% |
£5,667,000 |
-33.8% |
£8,555,000 |
36.2% |
£6,283,000 |
33.9% |
£4,691,000 |
|
Other Debtors |
£16,383,000 |
80% |
£9,101,000 |
-22.3% |
£11,709,000 |
74.9% |
£6,696,000 |
153.5% |
£2,641,000 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
£54,871,000 |
22% |
£44,988,000 |
5.6% |
£42,602,000 |
19.4% |
£35,671,000 |
24.9% |
£28,571,000 |
|
Trade Creditors |
£10,496,000 |
-0.4% |
£10,541,000 |
15% |
£9,163,000 |
17.2% |
£7,816,000 |
56.9% |
£4,982,000 |
|
Bank Loans & Overdrafts |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Finance |
£8,052,000 |
9.6% |
£7,344,000 |
- |
0 |
- |
0 |
-100% |
£1,842,000 |
|
Miscellaneous Current Liabilities |
£11,219,000 |
65.2% |
£6,792,000 |
14.8% |
£5,916,000 |
10.1% |
£5,375,000 |
22.5% |
£4,388,000 |
|
Total Current Liabilities |
£29,767,000 |
20.6% |
£24,677,000 |
63.7% |
£15,079,000 |
14.3% |
£13,191,000 |
17.7% |
£11,212,000 |
|
Bank Loans & Overdrafts and LTL |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Long Term Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
Capital & Reserves
|
Date Of Accounts |
30/01/10 |
(%) |
31/01/09 |
(%) |
02/02/08 |
(%) |
03/02/07 |
(%) |
31/01/06 |
|
Called Up Share Capital |
£770,000 |
- |
£770,000 |
- |
£770,000 |
- |
£770,000 |
- |
£770,000 |
|
P & L Account Reserve |
£35,359,000 |
30.5% |
£27,095,000 |
-16.6% |
£32,482,000 |
23.4% |
£26,323,000 |
26.5% |
£20,806,000 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£36,129,000 |
29.7% |
£27,865,000 |
-16.2% |
£33,252,000 |
22.7% |
£27,093,000 |
25.6% |
£21,576,000 |
Other Financial Items
|
30/01/10 |
(%) |
31/01/09 |
(%) |
02/02/08 |
(%) |
03/02/07 |
(%) |
31/01/06 |
|
|
Net Worth |
£35,573,000 |
30.5% |
£27,250,000 |
-17.3% |
£32,955,000 |
21.6% |
£27,093,000 |
25.6% |
£21,576,000 |
|
Working Capital |
£25,104,000 |
23.6% |
£20,311,000 |
-26.2% |
£27,523,000 |
22.4% |
£22,480,000 |
29.5% |
£17,359,000 |
|
Total Assets |
£65,896,000 |
25.4% |
£52,542,000 |
8.7% |
£48,331,000 |
20% |
£40,284,000 |
22.9% |
£32,788,000 |
|
Total Liabilities |
£29,767,000 |
20.6% |
£24,677,000 |
63.7% |
£15,079,000 |
14.3% |
£13,191,000 |
17.7% |
£11,212,000 |
|
Net Assets |
£36,129,000 |
29.7% |
£27,865,000 |
-16.2% |
£33,252,000 |
22.7% |
£27,093,000 |
25.6% |
£21,576,000 |
Miscellaneous
|
30/01/10 |
(%) |
31/01/09 |
(%) |
02/02/08 |
(%) |
03/02/07 |
(%) |
31/01/06 |
|
|
Contingent Liability |
YES |
- |
NO |
- |
YES |
- |
YES |
- |
NO |
|
Capital Employed |
£36,129,000 |
29.7% |
£27,865,000 |
-16.2% |
£33,252,000 |
22.7% |
£27,093,000 |
25.6% |
£21,576,000 |
|
Number of Employees |
1047 |
12.8% |
928 |
5.7% |
878 |
-10.8% |
984 |
8.5% |
907 |
|
Auditors |
BDO LLP |
||||||||
|
Auditor Comments |
The audit report contains no adverse comments |
||||||||
|
Bankers |
THE ROYAL BANK OF SCOTLAND PLC |
||||||||
|
Bank Branch Code |
|
||||||||
Ratios
|
30/01/10 |
31/01/09 |
02/02/08 |
03/02/07 |
31/01/06 |
|
|
Pre-tax profit margin % |
6.98 |
6.36 |
6.95 |
5.87 |
5.92 |
|
Current ratio |
1.84 |
1.82 |
2.83 |
2.70 |
2.55 |
|
Sales/Net Working Capital |
6.02 |
6.41 |
4.17 |
4.84 |
- |
|
Gearing % |
0 |
0 |
0 |
0 |
0 |
|
Equity in % |
55.30 |
53.70 |
69.20 |
67.30 |
65.80 |
|
Creditor Days |
25.27 |
29.45 |
29.06 |
26.67 |
19.40 |
|
Debtor Days |
27.52 |
28.01 |
8.32 |
10.20 |
16.62 |
|
Liquidity/Acid Test |
1.01 |
1 |
1.52 |
1.21 |
1.03 |
|
Return On Capital Employed % |
29.18 |
29.73 |
23.98 |
23.54 |
25.70 |
|
Return On Total Assets Employed % |
16 |
15.76 |
16.50 |
15.83 |
16.91 |
|
Current Debt Ratio |
0.82 |
0.88 |
0.45 |
0.48 |
0.52 |
|
Total Debt Ratio |
0.82 |
0.88 |
0.45 |
0.48 |
0.52 |
|
Stock Turnover Ratio % |
16.33 |
15.50 |
17.18 |
18.12 |
18.10 |
|
Return on Net Assets Employed % |
29.18 |
29.73 |
23.98 |
23.54 |
25.70 |
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
|
23/10/2010 |
New Accounts Filed |
|
|
13/08/2010 |
Annual Returns |
|
|
16/08/2009 |
New Accounts Filed |
|
|
04/08/2009 |
Annual Returns |
|
|
22/10/2008 |
New Accounts Filed |
|
|
01/08/2008 |
Annual Returns |
|
|
05/03/2008 |
New Board Member Mr A.D. Lee appointed |
|
|
03/01/2008 |
James Davies Details have changed |
|
|
29/10/2007 |
New Accounts Filed |
|
|
05/07/2007 |
Annual Returns |
|
|
16/05/2007 |
New Board Member (SALLY MCCLYMONT) appointed |
|
|
05/07/2006 |
New Accounts Filed |
|
|
29/05/2006 |
DAVID JOHNWILKINSON has left the board |
|
|
19/12/2005 |
New Board Member (BIANCA PATRICIAFOLEY) appointed |
|
|
17/08/2005 |
SIMON DAVID HATHERLYDEAN has left the board |
|
Limit History
|
Date |
Limit |
|
23/10/2010 |
£1,200,000 |
|
11/08/2010 |
£1,000,000 |
|
03/08/2009 |
£950,000 |
|
05/03/2009 |
£1,200,000 |
|
20/05/2008 |
£3,500,000 |
|
11/05/2007 |
£2,500,000 |
|
07/11/2006 |
£1,500,000 |
|
16/08/2006 |
£1,500,000 |
|
08/08/2006 |
£1,500,000 |
|
02/05/2006 |
£1,500,000 |
Previous Company Names
|
Date |
Previous Name |
Companies House Documents |
|
31/01/1993 |
HOUSE OF FRASER (SHOES) LIMITED |
|
|
13/04/1989 |
KURT GEIGER HOLDINGS LIMITED |
|
|
08/09/1982 |
MAGLI S.P.A. ( |
|
Group Structure
Summary
|
Company Name |
KURT GEIGER LIMITED |
Company Number |
00968046 |
|
Holding Company |
KURT GEIGER ACQUISITION LIMITED |
Ownership Status |
Wholly Owned |
|
Ultimate Holding Company |
KG GROUP HOLDINGS LIMITED |
Companies in group |
9 |
Group structure
|
Company Name |
|
Safe Number |
Registered Number |
Latest Key Financials |
Consol. Accounts |
Rating |
Limit |
Turnover |
|
KG GROUP HOLDINGS LIMITED |
|
UK06144069 |
06500942 |
30.01.2010 |
Y |
86 |
£60,000 |
£162,566,000 |
|
KG BIDCO LIMITED |
|
UK06144121 |
06500994 |
30.01.2010 |
N |
77 |
£1,000 |
£0 |
|
KURT GEIGER HOLDINGS LIMITED |
|
UK05111379 |
05466774 |
30.01.2010 |
N |
93 |
£60,000 |
£0 |
|
KURT GEIGER FINANCE LIMITED |
|
UK05111378 |
05466773 |
30.01.2010 |
N |
95 |
£215,000 |
£0 |
|
KURT GEIGER ACQUISITION ... |
|
UK05128268 |
05483689 |
30.01.2010 |
N |
95 |
£395,000 |
£0 |
|
KURT GEIGER LIMITED |
|
UK00640942 |
00968046 |
30.01.2010 |
N |
93 |
£1,200,000 |
£151,182,000 |
|
KURT GEIGER SHOES LI... |
|
UK00457105 |
00782686 |
30.01.2010 |
N |
N/R |
- |
- |
|
CARVELA LIMITED |
|
UK00933682 |
01263859 |
30.01.2010 |
N |
N/R |
- |
- |
|
SHOEAHOLICS LIMITED |
|
UK02625829 |
02966052 |
30.01.2010 |
N |
N/R |
- |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.65 |
|
|
1 |
Rs.71.93 |
|
Euro |
1 |
Rs.63.24 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.