MIRA
INFORM REPORT
|
Report Date : |
13.05.2011 |
Note:
At the above address there are two companies
by the name Artegy Limited and British Red Cross registered.
IDENTIFICATION DETAILS
|
Name : |
MARKS AND SPENCER SCM LIMITED |
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Registered Office : |
Waterside House |
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Country : |
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Financials (as on) : |
03.04.2010 |
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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 With Share Capital |
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Line of Business : |
Other Business Activities |
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 : |
£ 5,550,000 |
|
Status : |
Very 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 |
|
Restricted |
C2 |
|
Off-credit |
D |
Summary
|
Company Name |
MARKS AND SPENCER SCM LIMITED |
Company Number |
04485686 |
|
Registered Address |
WATERSIDE HOUSE |
Trading Address |
Waterside House |
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W2 1NW |
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Website Address |
http://www.marksandspencer.com |
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Telephone Number |
02079354422 |
Fax Number |
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TPS |
No |
FPS |
No |
|
Incorporation Date |
15/07/2002 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
|
Type |
Private limited with Share Capital |
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|
|
Filing Date of Accounts |
14/09/2010 |
|
Date of Change |
- |
Share Capital |
£1 |
|
Sic Code |
7487 |
Currency |
GBP |
|
Sic Description |
OTHER BUSINESS ACTIVITIES |
||
|
Principal Activity |
Clothing and home products to marks and spencer plc. |
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Credit Limit
|
|
|
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Todays Limit |
£5,550,000 |
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Commentary
|
No exact match CCJs are recorded against the company. |
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There has been no significant change in the company's credit rating. |
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|
The credit limit on this company has risen 98.2% in comparison to the
previously suggested credit limit. |
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The previous 12 month trading period saw a rise in Sales of 34.8%. |
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In the previous 12 month trading period Net Worth decreased by 25.6%. |
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|
A 17.6% growth in Total Assets occurred in the previous 12 month
trading period. |
|
|
Pre-tax profits increased by 204.8% in the previous 12 month trading
period. |
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|
The company saw an increase in their Cash Balance of 100.4% in the
previous 12 month trading period. |
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The audit report contains no adverse comments. |
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The company has undergone recent changes in its directorships. |
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The company is part of a group. |
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The company was established over 8 years ago. |
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Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
03/04/2010 |
£1,110,292,000 |
£10,712,000 |
£20,206,000 |
- |
|
28/03/2009 |
£823,951,000 |
-£10,226,000 |
£27,170,000 |
- |
|
29/03/2008 |
£728,388,000 |
£11,418,000 |
£7,270,000 |
- |
CCJ
|
Total Number of Exact CCJs - |
0 |
Total Value of Exact CCJs - |
|
|
Total Number of Possible CCJs - |
0 |
Total Value of Possible CCJs - |
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|
Total Number of Satisfied CCJs - |
0 |
Total Value of Satisfied CCJs - |
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Total Number of Writs - |
0 |
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|
Exact CCJ Details
There are no exact CCJ details
Possible CCJ Details
There are no possible CCJ details
Writ Details
There are no writ details
Mortgage Summary
|
Outstanding |
0 |
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Satisfied |
0 |
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Total Current Directors |
2 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
9 |
Current Directors
|
Name |
Alan Stewart |
Date of Birth |
24/04/1960 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
36 |
Function |
Director |
|
Appointment Date |
18/03/2011 |
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|
|
Address |
Waterside House 35 North Wharf Road, , |
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|
|
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Name |
Amanda Mellor |
Date of Birth |
07/03/1964 |
|
Officers Title |
Ms |
Nationality |
British |
|
Present Appointments |
59 |
Function |
Director |
|
Appointment Date |
30/07/2009 |
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|
Address |
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Current Company Secretary
|
Name |
Robert John Ivens |
Date of Birth |
10/04/1958 |
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Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
74 |
Function |
Company Secretary |
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Appointment Date |
15/07/2002 |
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Address |
Waterside House, |
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Top 20 Shareholders
|
Individual Share Value |
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|||
|
MARKS AND SPENCER PLC |
1 ORDINARY GBP 1.00 |
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Profit & Loss
|
03/04/10 |
(%) |
28/03/09 |
(%) |
29/03/08 |
(%) |
31/03/07 |
(%) |
31/03/06 |
|
|
Weeks |
53 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
Consolidated A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
Turnover |
£1,110,292,000 |
34.8% |
£823,951,000 |
13.1% |
£728,388,000 |
21.1% |
£601,615,000 |
70.2% |
£353,523,000 |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost of Sales |
£1,056,657,000 |
- |
£785,274,000 |
- |
£667,392,000 |
- |
£571,904,000 |
- |
£331,054,000 |
|
Gross Profit |
£53,635,000 |
38.7% |
£38,677,000 |
-36.6% |
£60,996,000 |
105.3% |
£29,711,000 |
32.2% |
£22,469,000 |
|
Wages & Salaries |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Directors Emoluments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating Profit |
£13,119,000 |
352.3% |
-£5,199,000 |
-129.5% |
£17,607,000 |
591% |
-£3,586,000 |
-333.3% |
£1,537,000 |
|
Depreciation |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Audit Fees |
- |
- |
- |
- |
- |
-100% |
£22,000 |
4.8% |
£21,000 |
|
Interest Payments |
£2,407,000 |
-56.3% |
£5,504,000 |
-20.9% |
£6,962,000 |
122.1% |
£3,134,000 |
54.8% |
£2,024,000 |
|
Pre Tax Profit |
£10,712,000 |
204.8% |
-£10,226,000 |
-189.6% |
£11,418,000 |
286.8% |
-£6,114,000 |
- |
- |
|
Taxation |
-£2,848,000 |
-205.5% |
£2,700,000 |
172.7% |
-£3,714,000 |
-302.5% |
£1,834,000 |
- |
- |
|
Profit After Tax |
£7,864,000 |
204.5% |
-£7,526,000 |
-197.7% |
£7,704,000 |
280% |
-£4,280,000 |
- |
- |
|
Dividends Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Retained Profit |
£7,864,000 |
204.5% |
-£7,526,000 |
-197.7% |
£7,704,000 |
280% |
-£4,280,000 |
- |
- |
Balance Sheet
|
Date Of Accounts |
03/04/10 |
(%) |
28/03/09 |
(%) |
29/03/08 |
(%) |
31/03/07 |
(%) |
31/03/06 |
|
Tangible Assets |
0 |
-100% |
£79,000 |
-92.8% |
£1,093,000 |
- |
0 |
- |
0 |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Fixed Assets |
0 |
-100% |
£79,000 |
-92.8% |
£1,093,000 |
- |
0 |
- |
0 |
|
Stock |
£58,903,000 |
-48.4% |
£114,241,000 |
27.3% |
£89,765,000 |
10.6% |
£81,173,000 |
15.8% |
£70,108,000 |
|
Trade Debtors |
0 |
-100% |
£5,000 |
400% |
£1,000 |
-98% |
£49,000 |
-27.9% |
£68,000 |
|
Cash |
£69,111,000 |
100.4% |
£34,483,000 |
26% |
£27,357,000 |
999.9% |
£246,000 |
-97.1% |
£8,494,000 |
|
Other Debtors |
£160,735,000 |
153.1% |
£63,496,000 |
22.4% |
£51,869,000 |
-14.7% |
£60,812,000 |
83.2% |
£33,194,000 |
|
Miscellaneous Current Assets |
£25,340,000 |
-53.7% |
£54,679,000 |
927.6% |
£5,321,000 |
37.6% |
£3,867,000 |
606.9% |
£547,000 |
|
Total Current Assets |
£314,089,000 |
17.7% |
£266,904,000 |
53.1% |
£174,313,000 |
19.3% |
£146,147,000 |
30% |
£112,411,000 |
|
Trade Creditors |
£73,056,000 |
10% |
£66,395,000 |
40.7% |
£47,190,000 |
2.2% |
£46,192,000 |
23.1% |
£37,516,000 |
|
Bank Loans & Overdrafts |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Finance |
£210,637,000 |
39.9% |
£150,614,000 |
36.9% |
£110,053,000 |
19.1% |
£92,369,000 |
62.3% |
£56,905,000 |
|
Miscellaneous Current Liabilities |
£10,190,000 |
-55.3% |
£22,782,000 |
109.1% |
£10,893,000 |
22% |
£8,927,000 |
-51.7% |
£18,480,000 |
|
Total Current Liabilities |
£293,883,000 |
22.6% |
£239,791,000 |
42.6% |
£168,136,000 |
14% |
£147,488,000 |
30.6% |
£112,901,000 |
|
Bank Loans & Overdrafts and LTL |
0 |
-100% |
£22,000 |
- |
0 |
-100% |
£7,004,000 |
- |
0 |
|
Other Long Term Finance |
0 |
-100% |
£22,000 |
- |
0 |
-100% |
£7,004,000 |
- |
0 |
|
Total Long Term Liabilities |
0 |
-100% |
£22,000 |
- |
0 |
-100% |
£7,004,000 |
- |
0 |
Capital & Reserves
|
Date Of Accounts |
03/04/10 |
(%) |
28/03/09 |
(%) |
29/03/08 |
(%) |
31/03/07 |
(%) |
31/03/06 |
|
Called Up Share Capital |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
P & L Account Reserve |
£3,762,000 |
191.7% |
-£4,102,000 |
-219.8% |
£3,424,000 |
180% |
-£4,280,000 |
- |
- |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
£16,444,000 |
-47.4% |
£31,272,000 |
713.1% |
£3,846,000 |
194.6% |
-£4,065,000 |
-729.6% |
-£490,000 |
|
Shareholder Funds |
£20,206,000 |
-25.6% |
£27,170,000 |
273.7% |
£7,270,000 |
187.1% |
-£8,345,000 |
-999.9% |
-£490,000 |
Other Financial Items
|
03/04/10 |
(%) |
28/03/09 |
(%) |
29/03/08 |
(%) |
31/03/07 |
(%) |
31/03/06 |
|
|
Net Worth |
£20,206,000 |
-25.6% |
£27,170,000 |
273.7% |
£7,270,000 |
187.1% |
-£8,345,000 |
-999.9% |
-£490,000 |
|
Working Capital |
£20,206,000 |
-25.5% |
£27,113,000 |
338.9% |
£6,177,000 |
560.6% |
-£1,341,000 |
-173.7% |
-£490,000 |
|
Total Assets |
£314,089,000 |
17.6% |
£266,983,000 |
52.2% |
£175,406,000 |
20% |
£146,147,000 |
30% |
£112,411,000 |
|
Total Liabilities |
£293,883,000 |
22.5% |
£239,813,000 |
42.6% |
£168,136,000 |
8.8% |
£154,492,000 |
36.8% |
£112,901,000 |
|
Net Assets |
£20,206,000 |
-25.6% |
£27,170,000 |
273.7% |
£7,270,000 |
187.1% |
-£8,345,000 |
-999.9% |
-£490,000 |
Cash Flow
|
Date Of Accounts |
03/04/10 |
(%) |
28/03/09 |
(%) |
29/03/08 |
(%) |
31/03/07 |
(%) |
31/03/06 |
|
Net Cashflow from Operations |
-£21,588,000 |
11% |
-£24,254,000 |
-210.4% |
£21,978,000 |
138% |
-£57,786,000 |
-897.2% |
-£5,795,000 |
|
Net Cashflow before Financing |
-£21,588,000 |
9.2% |
-£23,777,000 |
-204.6% |
£22,721,000 |
139.7% |
-£57,206,000 |
-977.7% |
-£5,308,000 |
|
Net Cashflow from Financing |
£56,216,000 |
81.9% |
£30,903,000 |
603.9% |
£4,390,000 |
-91% |
£48,958,000 |
514.4% |
£7,969,000 |
|
Increase in Cash |
£34,628,000 |
385.9% |
£7,126,000 |
-73.7% |
£27,111,000 |
428.7% |
-£8,248,000 |
-410% |
£2,661,000 |
Miscellaneous
|
03/04/10 |
(%) |
28/03/09 |
(%) |
29/03/08 |
(%) |
31/03/07 |
(%) |
31/03/06 |
|
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
£20,206,000 |
-25.7% |
£27,192,000 |
274% |
£7,270,000 |
642.1% |
-£1,341,000 |
-173.7% |
-£490,000 |
|
Number of Employees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Auditors |
PRICEWATERHOUSECOOPERS LLP |
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|
Auditor Comments |
The audit report contains no adverse comments |
||||||||
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Bankers |
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|
Bank Branch Code |
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Ratios
|
03/04/10 |
28/03/09 |
29/03/08 |
31/03/07 |
31/03/06 |
|
|
Pre-tax profit margin % |
0.96 |
-1.24 |
1.57 |
-1.02 |
- |
|
Current ratio |
1.07 |
1.11 |
1.04 |
0.99 |
1 |
|
Sales/Net Working Capital |
54.95 |
30.39 |
117.92 |
-448.63 |
-721.48 |
|
Gearing % |
0 |
0.10 |
0 |
-83.90 |
0 |
|
Equity in % |
6.40 |
10.20 |
4.10 |
-5.70 |
-0.40 |
|
Creditor Days |
24.41 |
29.33 |
23.58 |
27.95 |
38.63 |
|
Debtor Days |
- |
- |
- |
0.03 |
0.07 |
|
Liquidity/Acid Test |
0.86 |
0.63 |
0.50 |
0.44 |
0.37 |
|
Return On Capital Employed % |
53.01 |
-37.60 |
157.05 |
455.93 |
- |
|
Return On Total Assets Employed % |
3.41 |
-3.83 |
6.50 |
-4.18 |
- |
|
Current Debt Ratio |
14.54 |
8.82 |
23.12 |
-17.67 |
-230.41 |
|
Total Debt Ratio |
14.54 |
8.82 |
23.12 |
-18.51 |
-230.41 |
|
Stock Turnover Ratio % |
5.30 |
13.86 |
12.32 |
13.49 |
19.83 |
|
Return on Net Assets Employed % |
53.01 |
-37.63 |
157.05 |
73.27 |
- |
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
|
13/04/2011 |
New Board Member Mr A. Stewart appointed |
|
|
06/04/2011 |
New Board Member Mr A. Stewart appointed |
|
|
03/02/2011 |
Mr A.R. Findlay has left the board |
|
|
23/09/2010 |
New Accounts Filed |
|
|
23/09/2010 |
New Accounts Filed |
|
|
31/07/2010 |
Annual Returns |
|
|
05/10/2009 |
New Accounts Filed |
|
|
05/10/2009 |
New Accounts Filed |
|
|
04/09/2009 |
Mr G.J. Oakley has left the board |
|
|
03/09/2009 |
New Board Member Ms A. Mellor appointed |
|
|
19/07/2009 |
Annual Returns |
|
|
11/01/2009 |
New Accounts Filed |
|
|
27/09/2008 |
Mr A. Quinlan has left the board |
|
|
27/09/2008 |
New Board Member Mr A.R. Findlay appointed |
|
|
02/08/2008 |
Annual Returns |
|
Previous Company Names
|
No Previous Names found |
Group Structure
Summary
|
Company Name |
MARKS AND SPENCER SCM LIMITED |
Company Number |
04485686 |
|
Holding Company |
MARKS AND SPENCER P.L.C. |
Ownership Status |
Wholly Owned |
|
Ultimate Holding Company |
MARKS AND SPENCER GROUP P.L.C. |
Companies in group |
70 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.79 |
|
|
1 |
Rs.73.19 |
|
Euro |
1 |
Rs.63.59 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.