MIRA
INFORM REPORT
|
Report Date : |
25.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
MONSOON ACCESSORIZE LIMITED |
|
|
|
|
Formerly Known As : |
MONSOON LIMITED |
|
|
|
|
Registered Office : |
1 Nicholas Road London W11 4an |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
28.08.2010 |
|
|
|
|
Date of Incorporation : |
22.02.1973 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Retail Sale of Clothing in Specialised Stores |
|
|
|
|
No. of Employees : |
3841 |
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 : |
£7,450,000 |
|
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 – September 30, 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 |
REGISTERED NAME & COMPANY
SUMMARY
|
Company Name |
MONSOON ACCESSORIZE
LIMITED |
Company Number |
01098034 |
|
|
|
Safe Number |
UK00769887 |
|
Registered Address |
1 NICHOLAS ROAD |
Trading Address |
92 High Street |
|
|
LONDON |
|
|
|
|
|
|
|
|
|
W11 4AN |
|
|
|
|
|
|
|
|
Website Address |
|
|
|
|
Telephone Number |
01789415373 |
Fax Number |
02086014040 |
|
TPS |
No |
FPS |
Yes |
|
Incorporation Date |
22/02/1973 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
MONSOON LIMITED |
Type |
Private limited with
Share Capital |
|
Date of Change |
13/01/1998 |
Filing Date of Accounts |
23/04/2011 |
|
|
|
Share Capital |
£100,000 |
|
SIC03 |
5242 |
Currency |
GBP |
|
SIC03 Description |
RETAIL SALE OF CLOTHING |
||
|
SIC07 |
47710 |
||
|
SIC07 Description |
RETAIL SALE OF CLOTHING IN
SPECIALISED STORES |
||
|
Principal Activity |
Sale of women's, men's
and children's clothing, accessories, homeware and gifts. |
||
CREDIT RECOMENDATION
Current Credit Limit: £7,450,000
DIRECTORS/MANAGEMENT
|
Total Current Directors |
3 |
|
Total Current
Secretaries |
1 |
|
Total Previous Directors
/ Company Secretaries |
12 |
Current Directors
|
Name |
Date of Birth |
24/09/1952 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
9 |
Function |
Director |
|
Appointment Date |
25/04/2006 |
|
|
|
Address |
8 Chepstow Villas,
, London, W11 2RB |
||
|
Name |
Date of Birth |
30/09/1960 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
20 |
Function |
Director |
|
Appointment Date |
28/03/2007 |
|
|
|
Address |
Fennels 119 Bicester
Road, Lower End, Long Crendon, HP18 9EF |
||
|
Name |
Date of Birth |
15/01/1954 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
4 |
Function |
Director |
|
Appointment Date |
30/09/2009 |
|
|
|
Address |
1 Nicholas Road,
, London, W11 4AN |
||
NEGATIVE INFORMATION
CCJ
|
Total Number of Exact
CCJs - |
Total Value of Exact
CCJs - |
||
|
Total Number of Possible
CCJs - |
Total Value of Possible
CCJs - |
||
|
Total Number of
Satisfied CCJs - |
Total Value of Satisfied
CCJs - |
||
|
Total Number of Writs - |
|
|
Exact CCJ Details
|
Date |
Court |
Amount |
Status |
Case Number |
Date Paid |
|
30/08/2011 |
NORTHAMPTON CCBC |
£805 |
Judgement |
1XB21010 |
- |
|
30/06/2011 |
NORTHAMPTON CCBC |
£1,166 |
Judgement |
1QT54842 |
- |
|
27/05/2011 |
NORTHAMPTON CCBC |
£394 |
Satisfied |
1XC65835 |
04/07/2011 |
|
11/04/2011 |
NORTHAMPTON CCBC |
£129 |
Satisfied |
1XZ59322 |
05/07/2011 |
|
17/02/2011 |
KINGSTON UPON HULL |
£2,271 |
Judgement |
1KH00211 |
- |
Possible CCJ Details
|
Date |
Court |
Amount |
Status |
Case Number |
Date Paid |
Registered CCJ Details |
|
09/06/2011 |
NEWCASTLE UPON TYNE |
£904 |
Judgement |
1NE03260 |
- |
|
Writ Details
There are no writ details
SHARE & SHARE CAPITAL
INFORMATION
|
Share Capital |
£100,000 |
Top 20 Shareholders
|
Individual Share Value |
|
|
MONSOON HOLDINGS LTD |
100,000 ORDINARY GBP
1.00 |
PAYMENT INFORMATION
Na
GROUP STRUCTURE & AFFILIATED
COMPANIES
Group Structure Summary
|
Company Name |
MONSOON ACCESSORIZE
LIMITED |
Company Number |
01098034 |
|
Holding Company |
MONSOON HOLDINGS LIMITED
|
Ownership Status |
Wholly Owned |
|
Ultimate Holding Company
|
MONSOON HOLDINGS
(JERSEY) LTD |
Companies in group |
11 |
Group structure
|
Company Name |
|
Safe Number |
Registered Number |
Latest Key Financials |
Consol. Accounts |
Turnover |
|
|
|
N/A |
- |
- |
|
|||
|
|
06292597 |
28.08.2010 |
Y |
£647,105,000 |
|||
|
|
06678846 |
28.08.2010 |
N |
|
|||
|
|
02585514 |
28.09.2010 |
N |
|
|||
|
|
01200163 |
28.08.2010 |
N |
|
|||
|
|
01098034 |
28.08.2010 |
N |
£561,749,218 |
|||
|
|
IE057468 |
28.08.2010 |
N |
|
|||
|
|
IE083186 |
29.08.2009 |
N |
|
|
||
FINANCIAL INFORMATION
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
28/08/2010 |
£561,749,218 |
£98,225,288 |
£131,738,514 |
3841 |
|
29/08/2009 |
£540,393,146 |
£27,908,685 |
£116,457,441 |
3965 |
|
30/08/2008 |
£631,592,992 |
£54,550,880 |
£170,687,729 |
3930 |
Profit & Loss
|
28/08/10 |
(%) |
29/08/09 |
(%) |
30/08/08 |
(%) |
26/05/07 |
(%) |
31/05/06 |
|
|
Weeks |
52 |
(%) |
52 |
(%) |
66 |
(%) |
52 |
(%) |
52 |
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
Consolidated A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
Turnover |
£561,749,218 |
4% |
£540,393,146 |
-14.4% |
£631,592,992 |
31.4% |
£480,686,835 |
7.3% |
£447,958,000 |
|
Export |
£48,165,920 |
49.6% |
£32,198,070 |
34.6% |
£23,926,947 |
37.3% |
£17,426,550 |
16.5% |
£14,953,000 |
|
Cost of Sales |
£222,357,957 |
-5% |
£234,151,472 |
-13.1% |
£269,400,844 |
31.7% |
£204,505,156 |
4.9% |
£194,989,000 |
|
Gross Profit |
£339,391,261 |
10.8% |
£306,241,674 |
-15.4% |
£362,192,148 |
31.1% |
£276,181,679 |
9.2% |
£252,969,000 |
|
Wages & Salaries |
£75,385,517 |
3.5% |
£72,848,118 |
-23.8% |
£95,631,848 |
26.7% |
£75,503,030 |
9.1% |
£69,227,000 |
|
Directors Emoluments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating Profit |
£98,478,467 |
236.8% |
£29,238,235 |
-41.2% |
£49,748,167 |
17.9% |
£42,195,836 |
-16.4% |
£50,492,000 |
|
Depreciation |
£21,729,989 |
-4.5% |
£22,755,727 |
-23.9% |
£29,887,559 |
20.2% |
£24,856,891 |
26.1% |
£19,717,000 |
|
Audit Fees |
£204,000 |
-3.8% |
£212,000 |
-40.1% |
£353,827 |
158.8% |
£136,713 |
64.7% |
£83,000 |
|
Interest Payments |
£4,672,035 |
-54.8% |
£10,343,011 |
999.9% |
£875,372 |
-47.2% |
£1,659,184 |
219.1% |
£520,000 |
|
Pre Tax Profit |
£98,225,288 |
252% |
£27,908,685 |
-48.8% |
£54,550,880 |
23.7% |
£44,103,232 |
-13.6% |
£51,036,000 |
|
Taxation |
-£26,444,215 |
-370.7% |
-£5,617,911 |
62.2% |
-£14,854,097 |
-11.1% |
-£13,371,973 |
20.1% |
-£16,731,000 |
|
Profit After Tax |
£71,781,073 |
222% |
£22,290,774 |
-43.8% |
£39,696,783 |
29.2% |
£30,731,259 |
-10.4% |
£34,305,000 |
|
Dividends Payable |
£56,500,000 |
-26.2% |
£76,521,062 |
36.6% |
£56,024,248 |
- |
- |
- |
- |
|
Retained Profit |
£15,281,073 |
128.2% |
-£54,230,288 |
-232.1% |
-£16,327,465 |
-153.1% |
£30,731,259 |
-10.4% |
£34,305,000 |
Balance Sheet
|
Date Of Accounts |
28/08/10 |
(%) |
29/08/09 |
(%) |
30/08/08 |
(%) |
26/05/07 |
(%) |
31/05/06 |
|
Tangible Assets |
£80,074,382 |
-13.5% |
£92,534,997 |
-17.8% |
£112,590,748 |
0.4% |
£112,136,198 |
-12.5% |
£128,217,000 |
|
Intangible Assets |
£1,407,114 |
-10.7% |
£1,575,650 |
-18.5% |
£1,932,306 |
-8.5% |
£2,112,639 |
-5.6% |
£2,239,000 |
|
Total Fixed Assets |
£81,481,496 |
-13.4% |
£94,110,647 |
-17.8% |
£114,523,054 |
0.2% |
£114,248,837 |
-12.4% |
£130,457,000 |
|
Stock |
£61,760,519 |
4% |
£59,396,755 |
19.3% |
£49,785,014 |
-1.8% |
£50,715,426 |
-17.1% |
£61,175,000 |
|
Trade Debtors |
£14,932,861 |
21.8% |
£12,262,858 |
-4.7% |
£12,869,427 |
-11.2% |
£14,485,772 |
64.9% |
£8,782,000 |
|
Cash |
£115,104,645 |
15.1% |
£100,008,132 |
62.8% |
£61,442,632 |
-5.5% |
£65,052,909 |
312% |
£15,791,000 |
|
Other Debtors |
£273,353,988 |
-4.8% |
£287,201,451 |
467.5% |
£50,609,807 |
2.2% |
£49,532,870 |
12.4% |
£44,076,000 |
|
Miscellaneous Current
Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
£465,152,013 |
1.4% |
£458,869,196 |
162.7% |
£174,706,880 |
-2.8% |
£179,786,977 |
38.5% |
£129,824,000 |
|
Trade Creditors |
£61,463,150 |
25.3% |
£49,049,664 |
78.4% |
£27,487,657 |
35.1% |
£20,339,429 |
3.3% |
£19,681,000 |
|
Bank Loans &
Overdrafts |
£9,706,678 |
-7.6% |
£10,508,858 |
444.7% |
£1,929,141 |
-87.9% |
£15,940,161 |
-44.7% |
£28,815,000 |
|
Other Short Term Finance |
£259,833,083 |
-10.9% |
£291,647,943 |
999.9% |
£8,777,464 |
-62.3% |
£23,260,801 |
78.9% |
£13,004,000 |
|
Miscellaneous Current
Liabilities |
£82,072,499 |
-0.5% |
£82,523,817 |
12.4% |
£73,442,566 |
77% |
£41,493,811 |
2.6% |
£40,459,000 |
|
Total Current
Liabilities |
£413,075,410 |
-4.8% |
£433,730,282 |
288.5% |
£111,636,828 |
10.5% |
£101,034,202 |
-0.9% |
£101,959,000 |
|
Bank Loans &
Overdrafts and LTL |
£11,526,263 |
-13.3% |
£13,300,978 |
50.6% |
£8,834,518 |
-60% |
£22,074,329 |
-28.8% |
£31,001,000 |
|
Other Long Term Finance |
£1,819,585 |
-34.8% |
£2,792,120 |
-55.4% |
£6,259,222 |
41.1% |
£4,436,868 |
- |
0 |
|
Total Long Term
Liabilities |
£1,819,585 |
-34.8% |
£2,792,120 |
-59.6% |
£6,905,377 |
12.6% |
£6,134,168 |
180.6% |
£2,186,000 |
Capital & Reserves
|
Date Of Accounts |
28/08/10 |
(%) |
29/08/09 |
(%) |
30/08/08 |
(%) |
26/05/07 |
(%) |
31/05/06 |
|
Called Up Share Capital |
£100,000 |
- |
£100,000 |
- |
£100,000 |
- |
£100,000 |
- |
£100,000 |
|
P & L Account
Reserve |
£131,638,514 |
13.1% |
£116,357,441 |
-31.8% |
£170,587,729 |
-8.7% |
£186,767,444 |
19.7% |
£156,036,000 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£131,738,514 |
13.1% |
£116,457,441 |
-31.8% |
£170,687,729 |
-8.7% |
£186,867,444 |
19.7% |
£156,136,000 |
Other Financial Items
|
28/08/10 |
(%) |
29/08/09 |
(%) |
30/08/08 |
(%) |
26/05/07 |
(%) |
31/05/06 |
|
|
Net Worth |
£130,331,400 |
13.4% |
£114,881,791 |
-31.9% |
£168,755,423 |
-8.7% |
£184,754,805 |
20.1% |
£153,897,000 |
|
Working Capital |
£52,076,603 |
107.2% |
£25,138,914 |
-60.1% |
£63,070,052 |
-19.9% |
£78,752,775 |
182.6% |
£27,865,000 |
|
Total Assets |
£546,633,509 |
-1.1% |
£552,979,843 |
91.2% |
£289,229,934 |
-1.6% |
£294,035,814 |
13% |
£260,281,000 |
|
Total Liabilities |
£414,894,995 |
-5% |
£436,522,402 |
268.2% |
£118,542,205 |
10.6% |
£107,168,370 |
2.9% |
£104,145,000 |
|
Net Assets |
£131,738,514 |
13.1% |
£116,457,441 |
-31.8% |
£170,687,729 |
-8.7% |
£186,867,444 |
19.7% |
£156,136,000 |
Cash Flow
|
Date Of Accounts |
28/08/10 |
(%) |
29/08/09 |
(%) |
30/08/08 |
(%) |
26/05/07 |
(%) |
31/05/06 |
|
Net Cashflow from
Operations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Cashflow before
Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Cashflow from
Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Increase in Cash |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Miscellaneous
|
28/08/10 |
(%) |
29/08/09 |
(%) |
30/08/08 |
(%) |
26/05/07 |
(%) |
31/05/06 |
|
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
£133,558,099 |
12% |
£119,249,561 |
-32.9% |
£177,593,106 |
-8% |
£193,001,612 |
21.9% |
£158,322,000 |
|
Number of Employees |
3841 |
-3.1% |
3965 |
0.9% |
3930 |
-2.4% |
4027 |
13.5% |
3547 |
|
Auditors |
ERNST & YOUNG LLP |
||||||||
|
Auditor Comments |
The audit report contains
no adverse comments |
||||||||
|
Bankers |
NATIONAL WESTMINSTER
BANK PLC |
||||||||
|
Bank Branch Code |
60-00-01 |
||||||||
Ratios
|
28/08/10 |
29/08/09 |
30/08/08 |
26/05/07 |
31/05/06 |
|
|
Pre-tax profit margin % |
17.49 |
5.16 |
8.64 |
9.18 |
11.39 |
|
Current ratio |
1.13 |
1.06 |
1.56 |
1.78 |
1.27 |
|
Sales/Net Working
Capital |
10.79 |
21.50 |
10.01 |
6.10 |
- |
|
Gearing % |
8.70 |
11.40 |
5.20 |
11.80 |
19.90 |
|
Equity in % |
24.20 |
21.10 |
59.40 |
64 |
60.50 |
|
Creditor Days |
39.82 |
33.03 |
20.10 |
15.40 |
16.04 |
|
Debtor Days |
9.67 |
8.26 |
9.41 |
10.96 |
7.16 |
|
Liquidity/Acid Test |
0.97 |
0.92 |
1.11 |
1.27 |
0.67 |
|
Return On Capital
Employed % |
73.54 |
23.40 |
30.71 |
22.85 |
32.24 |
|
Return On Total Assets
Employed % |
17.96 |
5.04 |
18.86 |
14.99 |
19.61 |
|
Current Debt Ratio |
3.13 |
3.72 |
0.65 |
0.54 |
0.65 |
|
Total Debt Ratio |
3.14 |
3.74 |
0.69 |
0.57 |
0.67 |
|
Stock Turnover Ratio % |
10.99 |
10.99 |
7.88 |
10.55 |
13.66 |
|
Return on Net Assets Employed % |
74.56 |
23.96 |
31.95 |
23.60 |
32.69 |
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
Mortgage Summary
|
Outstanding |
1 |
|
Satisfied |
7 |
Current Company Secretary
|
Name |
Date of Birth |
- |
|
|
Officers Title |
|
Nationality |
British |
|
Present Appointments |
3 |
Function |
Company Secretary |
|
Appointment Date |
21/05/2003 |
|
|
|
Address |
103 Saint Kilda
Road, West Ealing, London, W13 9DF |
||
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
02/07/2011 |
Annual Returns |
|
03/05/2011 |
New Accounts Filed |
|
03/05/2011 |
New Accounts Filed |
|
15/06/2010 |
Annual Returns |
|
04/06/2010 |
New Accounts Filed |
|
04/06/2010 |
New Accounts Filed |
|
04/11/2009 |
New Board Member Mr P.
Ridler appointed |
|
14/10/2009 |
Mr M. Hudson has left
the board |
|
07/06/2009 |
Annual Returns |
|
04/06/2009 |
Change in Reg.Office |
|
31/05/2009 |
New Accounts Filed |
|
27/01/2009 |
Mr M.J. Vandenberghe has
left the board |
|
16/11/2008 |
New Accounts Filed |
|
09/06/2008 |
Change in Reg.Office |
|
09/06/2008 |
Change of Company
Postcode |
Previous Company Names
|
Date |
Previous Name |
|
13/01/1998 |
MONSOON LIMITED |
|
15/10/1986 |
MONSOON FASHIONS LIMITED |
|
31/12/1977 |
SILTROP LIMITED |
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.25 |
|
|
1 |
Rs.81.23 |
|
Euro |
1 |
Rs.69.82 |
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.