MIRA INFORM REPORT

 

 

Report Date :           

28.12.2011

 

IDENTIFICATION DETAILS

 

Name :

ISLAND CLOTHING LTD.

 

 

Registered Office :

5 Lewis Court, Grove Pk Enderby, Leicester, LE19 1SD

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

30.06.2011

 

 

Date of Incorporation :

30.06.1993

 

 

Com. Reg. No.:

02832083

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

Wholesale of clothing and footwear

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

United Kingdom 

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

Island Clothing Ltd.

5 Lewis Court

Grove Pk Enderby

Leicester, LE19 1SD

United Kingdom

Tel:       01162823109

Fax:      01162827287

 

 

Synthesis

 

Employees:                  NA

Company Type:            Private Independent

Quoted Status:              Non-quoted Company

Incorporation Date:         30-Jun-1993

Auditor:                        Higgisons         

Financials in:                 USD (Millions)

Fiscal Year End:            30-Jun-2011

Reporting Currency:       British Pound Sterling

Annual Sales:               NA

Total Assets:                2.2

 

 

Business Description     

 

Wholesale of clothing and footwear.

 

Industry

Industry            Apparel and Accessories

ANZSIC 2006:    371 - Textile, Clothing and Footwear Wholesaling

NACE 2002:      5142 - Wholesale of clothing and footwear

NAICS 2002:     4243 - Apparel, Piece Goods, and Notions Merchant Wholesalers

UK SIC 2003:    5142 - Wholesale of clothing and footwear

US SIC 1987:    513 - Apparel, Piece Goods, and Notions

 

           

Key Executives   

 

Name

Title

Gilbert Nemorin

Managing Director

Tracey Caroline Nemorin

Secretary

Louis Andre Gilbert Nemorin

Director

 

 

news

 

Title

Date

Store pulls plans over 'explosion' concerns
Sutton Coldfield Observer (331 Words)

29-Jul-2011

Bieber frenzy case resolved
Toronto Star, The (Ontario, Canada) (379 Words)

9-May-2011

 

 

Financial Summary    

 

FYE: 30-Jun-2011          USD (mil)

Key Figures    

Current Assets              2.20

Fixed Assets                 0.02

Total Liabilities               1.19

Net Worth                     1.02

 

Key Ratios       

Current Ratio                 1.84

Acid Test                      1.84

 

Registered No.(UK): 02832083

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6291059

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6228783

 

 

Corporate Overview

 

Location

5 Lewis Court

Grove Pk Enderby

Leicester, LE19 1SD

Leicestershire County

United Kingdom

Tel:       01162823109

Fax:      01162827287

           

Sales GBP(mil):             NA

Assets GBP(mil):           1.4

Employees:                   NA

Fiscal Year End:            30-Jun-2011

 

Industry:                        Apparel and Accessories

           

Registered Address:

C/O Higgisons

Higgison House

381 383 City Road

London, EC1 1NA

United Kingdom

 

Incorporation Date:         30-Jun-1993

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(UK):       02832083

Director:            Louis Andre Gilbert Nemorin

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

371       -          Textile, Clothing and Footwear Wholesaling

 

NACE 2002 Codes:

5142     -          Wholesale of clothing and footwear

 

NAICS 2002 Codes:

4243     -          Apparel, Piece Goods, and Notions Merchant Wholesalers

 

US SIC 1987:

513       -          Apparel, Piece Goods, and Notions

 

UK SIC 2003:

5142     -          Wholesale of clothing and footwear

 

Business Description

Wholesale of clothing and footwear.

 

Financial Data

Financials in:

GBP(mil)

 

Assets:

1.4

Current Assets:

1.4

 

Fixed Assets:

0.0

 

Long Term Debt:

0.0

 

Total Liabilities:

0.7

 

Issued Capital:

0.0

 

Working Capital:

0.6

 

Net Worth:

0.6

 

 

 

Date of Financial Data:

30-Jun-2011

 

1 Year Growth

21.1%

 

Key Corporate Relationships

Auditor:

Higgisons

 

Auditor:

Higgisons

 

 

 

 

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Louis Andre Gilbert Nemorin

 

Director

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Gilbert Nemorin

 

Managing Director

Managing Director

 

Tracey Caroline Nemorin

 

Secretary

Company Secretary

 

 

 

Directors and Shareholders Report

 

Main Office Address:
5 Lewis Court
Leicester
United Kingdom LE19 1SD

Tel: 01162823109
Fax: 01162827287

Annual Return Date: 30 Jun 2011
Total Issued Capital (GBP 000): 3

 

Individual Directors

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Louis Andre Gilbert 
Nemorin

Current

25 Mar 1960

Elmstead, 1 Roundhill, 
Leicester, Leicestershire LE9 2DY

30 Jun 1993

NA

Current:2
Previous:0
Disqualifications:0

 

Tracey Caroline 
Nemorin

Current

09 Mar 1968

Elmstead, 1 Roundhill, 
Leicester, Leicestershire LE9 2DY

05 Nov 1997

NA

Current:2
Previous:0
Disqualifications:0

 

Jeremy John
Ryan-Bell

Previous

30 Dec 1938

Wickhamford Manor, 
Evesham, Worcestershire WR11 7SA

NA

30 Jun 1997

Current:2
Previous:2
Disqualifications:0

 

John William 
Lambert

Previous

13 Jun 1953

3 Glenfield Frith Drive, 
Leicester, Leicestershire LE3 8PU

01 Jun 1994

30 May 1997

Current:0
Previous:1
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

There are no corporate directors for this company.

 

 

Individual Secretaries

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Tracey Caroline 
Nemorin

Current

09 Mar 1968

Elmstead, 1 Roundhill, 
Leicester, Leicestershire LE9 2DY

13 Aug 1999

NA

Current:2
Previous:0
Disqualifications:0

 

June Winifred Ida 
Ryan-Bell

Previous

15 Jun 1940

Wickhamford Manor, 
Evesham, Worcestershire WR11 7SA

30 Jun 1993

30 May 1997

Current:0
Previous:1
Disqualifications:0

 

Nicola Suzanne 
Hughes

Previous

NA

6 The Banks, Cosby, 
Leicester, Leicestershire LE9 1TX

30 May 1997

13 Aug 1999

Current:0
Previous:1
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

There are no corporate secretaries for this company.

 

 

Individual Shareholders

Name

Share Details 
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Louise Andre Gilbert Nemorin

3000 Ordinary GBP 1.00

Ordinary

3,000

1.00

3,000.00

100.00

 

 

 

 

 

 

 

 

Corporate Shareholders

There are no corporate shareholders for this company.

 

 

 

Annual Profit & Loss

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

30-Jun-2011

30-Jun-2010

30-Jun-2009

30-Jun-2008

30-Jun-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.629106

0.633607

0.627423

0.499214

0.517836

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Depreciation

0.0

0.0

0.0

0.0

0.0

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

30-Jun-2011

30-Jun-2010

30-Jun-2009

30-Jun-2008

30-Jun-2007

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.622878

0.668405

0.60722

0.502475

0.498418

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Total Tangible Fixed Assets

0.0

0.0

0.0

0.0

0.0

Intangible Assets

0.0

0.0

0.0

0.0

0.0

Investments

0.0

0.0

0.0

0.0

0.0

Total Fixed Assets

0.0

0.0

0.0

0.0

0.0

Stocks

0.0

0.0

0.0

0.0

0.0

Work in Progress

0.0

0.0

0.0

0.0

0.0

Total Stocks Work In Progress

0.0

0.0

0.0

0.0

0.0

Total Debtors

1.4

0.6

0.7

0.3

0.5

Cash and Equivalents

0.8

1.2

0.9

1.4

1.1

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

2.2

1.8

1.5

1.8

1.6

Total Assets

2.2

1.9

1.6

1.8

1.6

Other Current Liabilities

1.2

1.2

0.5

0.7

0.7

Total Current Liabilities

1.2

1.2

0.5

0.7

0.7

Group Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Director Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Hire Purchase (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Leasing (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Total Hire Purchase Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Loans

0.0

0.0

0.0

0.0

0.0

Accruals/Deferred Income (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Liabilities

0.0

0.0

0.0

0.0

0.0

Total Long Term Liabilities

0.0

0.0

0.0

0.0

0.0

Deferred Taxation

0.0

0.0

0.0

0.0

0.0

Other Provisions

0.0

0.0

0.0

0.0

0.0

Total Provisions

0.0

0.0

0.0

0.0

0.0

Issued Capital

0.0

0.0

0.0

0.0

0.0

Share Premium Accounts

0.0

0.0

0.0

0.0

0.0

Revaluation Reserve

0.0

0.0

0.0

0.0

0.0

Retained Earnings

1.0

0.7

1.0

1.1

0.9

Other Reserves

0.0

0.0

0.0

0.0

0.0

Minority Interests (Balance Sheet)

0.0

0.0

0.0

0.0

0.0

Total Shareholders Funds

1.0

0.7

1.0

1.1

0.9

Net Worth

1.0

0.7

1.0

1.1

0.9

 

 

Annual Cash Flows

 

Financials in: USD (mil)

 

 

 

30-Jun-2011

30-Jun-2010

30-Jun-2009

30-Jun-2008

30-Jun-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.629106

0.633607

0.627423

0.499214

0.517836

Consolidated

No

No

No

No

No

 

 

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

30-Jun-2011

30-Jun-2010

30-Jun-2009

30-Jun-2008

30-Jun-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.622878

0.668405

0.60722

0.502475

0.498418

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

1.84

1.52

2.78

2.64

2.34

Liquidity Ratio

1.84

1.52

2.78

2.64

2.34

Equity Gearing

46.17%

35.85%

65.12%

63.07%

57.77%

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.89

UK Pound

1

Rs.82.71

Euro

1

Rs.69.15

 

 

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

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.