MIRA INFORM REPORT
|
Report Date : |
26.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
SIGNET TRADING LIMITED |
|
|
|
|
Formerly Known As : |
SIGNET UK TRADING LIMITED |
|
|
|
|
Registered Office : |
15 Golden Square, London W1F 9JG |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
30.01.2010 |
|
|
|
|
Date of Incorporation : |
12.05.1999 |
|
|
|
|
Com. Reg. No.: |
03768979 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
The provision of support services for its trading subsidiaries |
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 : |
£1,100,000 |
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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 summary
|
Company Name |
SIGNET TRADING LIMITED |
Company Number |
03768979 |
|
Registered Address |
15 GOLDEN SQUARE |
Trading Address |
167 Oxford Street |
|
|
LONDON |
|
|
|
|
|
|
|
|
|
W1F 9JG |
|
|
|
Website Address |
http://www.signetgroupplc.co.uk |
|
|
|
Telephone Number |
- |
Fax Number |
|
|
TPS |
- |
FPS |
No |
|
Incorporation Date |
12/05/1999 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
SIGNET UK TRADING LIMITED |
Type |
Private limited with Share Capital |
|
|
|
Filing Date of
Accounts |
26/06/2010 |
|
Date of Change |
29/07/1999 |
Share Capital |
£162,067,896 |
|
Sic Code |
7487 |
Currency |
GBP |
|
Sic Description |
OTHER BUSINESS ACTIVITIES |
||
|
Principal Activity |
The provision of support services for its
trading subsidiaries. |
||
Credit Limit
|
Limit |
£1,100,000 |
Previous Limit |
£900,000 |
|
Contract Limit |
£29,550,000 |
|
|
Commentary
|
CCJ recorded against the company. |
|
|
|
The credit limit on this company has risen 22.2% in comparison to the
previously suggested credit limit. |
|
|
|
The previous 12 month trading period saw a rise in Sales of 4.8%. |
|
|
|
In the previous 12 month trading period Net Worth decreased by 0.9%. |
|
|
|
A 2.6% growth in Total Assets occurred in the previous 12 month
trading period. |
|
|
|
Pre-tax profits decreased by 87.5% in the previous 12 month trading
period. |
|
|
|
The company saw an increase in their Cash Balance of 609.1% in the
previous 12 month trading period. |
|
|
|
The audit report contains no adverse comments. |
|
|
|
The company has undergone recent changes in its directorships. |
|
|
|
The company is part of a group. |
|
|
|
The company has changed its year end on multiple occasions. |
|
|
|
The company has changed its registered address recently. |
|
|
|
The company was established over 11 years ago. |
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|
|
|
|
|
|
|
|
|
Last 3 Years Credit Limit
|
Date |
Limit |
|
31/12/2010 |
£1,100,000 |
|
31/12/2009 |
£900,000 |
|
31/12/2008 |
£5,000,000 |
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
30/01/2010 |
£118,114,000 |
£15,560,000 |
£213,266,000 |
3656 |
|
31/01/2009 |
£112,707,000 |
£124,536,000 |
£215,159,000 |
3627 |
|
02/02/2008 |
£110,618,000 |
£23,098,000 |
£187,243,000 |
3767 |
CCJ
|
Total Number of Exact CCJs - |
0 |
Total Value of Exact CCJs - |
|
|
Total Number of Possible CCJs - |
0 |
Total Value of Possible CCJs - |
|
|
Total Number of Satisfied CCJs - |
1 |
Total Value of Satisfied CCJs - |
£767 |
|
Total Number of Writs - |
0 |
|
|
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 |
|
Satisfied |
0 |
|
Total Current Directors |
2 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
5 |
Current Directors
|
Name |
Mark Andrew Jenkins |
Date of Birth |
15/11/1957 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
74 |
Function |
Director |
|
Appointment Date |
25/06/2007 |
|
|
|
Address |
15 Golden Square, , London, W1F 9JG |
||
|
|
|
|
|
|
Name |
Kenneth Charles Pratt |
Date of Birth |
30/04/1961 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
5 |
Function |
Director |
|
Appointment Date |
25/06/2010 |
|
|
|
Address |
15 Golden Square, , London, W1F 9JG |
||
|
|
|
|
|
Current Company Secretary
|
Name |
Mark Andrew Jenkins |
Date of Birth |
15/11/1957 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
74 |
Function |
Company Secretary |
|
Appointment Date |
01/03/2004 |
|
|
|
Address |
15 Golden Square, , London, W1F 9JG |
||
|
|
|
|
|
Top 20 Shareholders
|
Individual Share Value |
|
|
SIGNET HOLDINGS LTD |
162,067,896 ORDINARY GBP 1.00 |
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 |
£118,114,000 |
4.8% |
£112,707,000 |
1.9% |
£110,618,000 |
2.4% |
£108,073,000 |
5.4% |
£102,490,000 |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost of Sales |
£110,614,000 |
- |
£88,820,000 |
- |
£103,381,000 |
- |
£101,004,000 |
5.5% |
£95,783,000 |
|
Gross Profit |
£7,500,000 |
-68.6% |
£23,887,000 |
230.1% |
£7,237,000 |
2.4% |
£7,069,000 |
5.4% |
£6,707,000 |
|
Wages & Salaries |
£91,797,000 |
2.7% |
£89,369,000 |
1.6% |
£87,937,000 |
-0.9% |
£88,775,000 |
6.4% |
£83,418,000 |
|
Directors Emoluments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating Profit |
£7,417,000 |
-69.3% |
£24,188,000 |
207.3% |
£7,871,000 |
18.9% |
£6,619,000 |
179.6% |
£2,367,000 |
|
Depreciation |
£4,311,000 |
8.5% |
£3,973,000 |
7.8% |
£3,686,000 |
446.1% |
£675,000 |
- |
- |
|
Audit Fees |
£232,000 |
4.5% |
£222,000 |
-4.3% |
£232,000 |
50.6% |
£154,000 |
4.8% |
£147,000 |
|
Interest Payments |
£9,936,000 |
-46.7% |
£18,657,000 |
-46.2% |
£34,681,000 |
-8.1% |
£37,720,000 |
36.5% |
£27,632,000 |
|
Pre Tax Profit |
£15,560,000 |
-87.5% |
£124,536,000 |
439.2% |
£23,098,000 |
-75.5% |
£94,149,000 |
47.9% |
£63,661,000 |
|
Taxation |
£1,379,000 |
119% |
-£7,243,000 |
-171.6% |
-£2,667,000 |
-96.7% |
-£1,356,000 |
40.6% |
-£2,281,000 |
|
Profit After Tax |
£16,939,000 |
-85.6% |
£117,293,000 |
474.1% |
£20,431,000 |
-78% |
£92,793,000 |
51.2% |
£61,380,000 |
|
Dividends Payable |
£12,500,000 |
-84.4% |
£80,000,000 |
433.3% |
£15,000,000 |
-82.6% |
£86,000,000 |
53.6% |
£56,000,000 |
|
Retained Profit |
£4,439,000 |
-88.1% |
£37,293,000 |
586.7% |
£5,431,000 |
-20.1% |
£6,793,000 |
26.3% |
£5,380,000 |
Balance Sheet
|
Date Of Accounts |
30/01/10 |
(%) |
31/01/09 |
(%) |
02/02/08 |
(%) |
03/02/07 |
(%) |
31/01/06 |
|
Tangible Assets |
£233,121,000 |
-0.4% |
£233,988,000 |
-0.3% |
£234,768,000 |
0.6% |
£233,422,000 |
5% |
£222,215,000 |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Fixed Assets |
£233,121,000 |
-0.4% |
£233,988,000 |
-0.3% |
£234,768,000 |
0.6% |
£233,422,000 |
5% |
£222,215,000 |
|
Stock |
£5,904,000 |
35.5% |
£4,358,000 |
12.5% |
£3,873,000 |
-40.1% |
£6,467,000 |
-28.9% |
£9,094,000 |
|
Trade Debtors |
£2,572,000 |
-9.4% |
£2,839,000 |
71.7% |
£1,653,000 |
-45.8% |
£3,051,000 |
-60.1% |
£7,650,000 |
|
Cash |
£13,410,000 |
609.1% |
£1,891,000 |
-80.4% |
£9,655,000 |
219.4% |
£3,023,000 |
-85.7% |
£21,089,000 |
|
Other Debtors |
£216,757,000 |
0.1% |
£216,563,000 |
-36.4% |
£340,774,000 |
-45.8% |
£628,975,000 |
6.2% |
£592,406,000 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
£238,643,000 |
5.8% |
£225,651,000 |
-36.6% |
£355,955,000 |
-44.5% |
£641,516,000 |
1.8% |
£630,239,000 |
|
Trade Creditors |
£4,935,000 |
-69.5% |
£16,165,000 |
-23% |
£20,989,000 |
1.4% |
£20,691,000 |
-24.9% |
£27,563,000 |
|
Bank Loans & Overdrafts |
£16,541,000 |
999.9% |
£22,000 |
-99.9% |
£30,478,000 |
42.3% |
£21,415,000 |
-30% |
£30,585,000 |
|
Other Short Term Finance |
£203,348,000 |
5.2% |
£193,338,000 |
-39.2% |
£318,241,000 |
-48.2% |
£613,958,000 |
5.9% |
£579,950,000 |
|
Miscellaneous Current Liabilities |
£30,646,000 |
19% |
£25,761,000 |
-16.7% |
£30,925,000 |
-8.4% |
£33,743,000 |
-2.8% |
£34,721,000 |
|
Total Current Liabilities |
£255,470,000 |
8.6% |
£235,286,000 |
-41.3% |
£400,633,000 |
-41.9% |
£689,807,000 |
2.5% |
£672,819,000 |
|
Bank Loans & Overdrafts and LTL |
£19,569,000 |
112.3% |
£9,216,000 |
-72.3% |
£33,325,000 |
69.2% |
£19,692,000 |
-52.4% |
£41,407,000 |
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Long Term Liabilities |
£3,028,000 |
-67.1% |
£9,194,000 |
222.9% |
£2,847,000 |
265.2% |
-£1,723,000 |
-115.9% |
£10,822,000 |
Capital & Reserves
|
Date Of Accounts |
30/01/10 |
(%) |
31/01/09 |
(%) |
02/02/08 |
(%) |
03/02/07 |
(%) |
31/01/06 |
|
Called Up Share Capital |
£162,068,000 |
- |
£162,068,000 |
- |
£162,068,000 |
- |
£162,068,000 |
- |
£162,068,000 |
|
P & L Account Reserve |
£44,997,000 |
11.1% |
£40,513,000 |
97.1% |
£20,551,000 |
-17.1% |
£24,786,000 |
267.5% |
£6,745,000 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
£6,201,000 |
-50.7% |
£12,578,000 |
172% |
£4,624,000 |
- |
- |
- |
- |
|
Shareholder Funds |
£213,266,000 |
-0.9% |
£215,159,000 |
14.9% |
£187,243,000 |
0.2% |
£186,854,000 |
10.7% |
£168,813,000 |
Other Financial Items
|
30/01/10 |
(%) |
31/01/09 |
(%) |
02/02/08 |
(%) |
03/02/07 |
(%) |
31/01/06 |
|
|
Net Worth |
£213,266,000 |
-0.9% |
£215,159,000 |
14.9% |
£187,243,000 |
0.2% |
£186,854,000 |
10.7% |
£168,813,000 |
|
Working Capital |
-£16,827,000 |
-74.6% |
-£9,635,000 |
78.4% |
-£44,678,000 |
7.5% |
-£48,291,000 |
-13.4% |
-£42,580,000 |
|
Total Assets |
£471,764,000 |
2.6% |
£459,639,000 |
-22.2% |
£590,723,000 |
-32.5% |
£874,938,000 |
2.6% |
£852,454,000 |
|
Total Liabilities |
£258,498,000 |
5.7% |
£244,480,000 |
-39.4% |
£403,480,000 |
-41.4% |
£688,084,000 |
0.6% |
£683,641,000 |
|
Net Assets |
£213,266,000 |
-0.9% |
£215,159,000 |
14.9% |
£187,243,000 |
0.2% |
£186,854,000 |
10.7% |
£168,813,000 |
Cash Flow
|
Date Of Accounts |
30/01/10 |
(%) |
31/01/09 |
(%) |
02/02/08 |
(%) |
03/02/07 |
(%) |
31/01/06 |
|
Net Cashflow from Operations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Cashflow before Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Cashflow from Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Increase in Cash |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Miscellaneous
|
30/01/10 |
(%) |
31/01/09 |
(%) |
02/02/08 |
(%) |
03/02/07 |
(%) |
31/01/06 |
|
|
Contingent Liability |
YES |
- |
YES |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
£216,294,000 |
-3.6% |
£224,353,000 |
18% |
£190,090,000 |
2.7% |
£185,131,000 |
3.1% |
£179,635,000 |
|
Number of Employees |
3656 |
0.8% |
3627 |
-3.7% |
3767 |
-7.7% |
4083 |
-2.8% |
4200 |
|
Auditors |
KPMG AUDIT PLC |
||||||||
|
Auditor Comments |
The audit report contains no adverse comments |
||||||||
|
Bankers |
BARCLAYS BANK PLC |
||||||||
|
Bank Branch Code |
|
||||||||
Ratios
|
30/01/10 |
31/01/09 |
02/02/08 |
03/02/07 |
31/01/06 |
|
|
Pre-tax profit margin % |
13.17 |
110.50 |
20.88 |
87.12 |
62.11 |
|
Current ratio |
0.93 |
0.96 |
0.89 |
0.93 |
0.94 |
|
Sales/Net Working Capital |
-7.02 |
-11.70 |
-2.48 |
-2.24 |
- |
|
Gearing % |
9.20 |
4.30 |
17.80 |
10.50 |
24.50 |
|
Equity in % |
45.20 |
46.80 |
31.70 |
21.40 |
19.80 |
|
Creditor Days |
15.20 |
52.20 |
69.07 |
71.03 |
98.16 |
|
Debtor Days |
7.92 |
9.16 |
5.44 |
10.47 |
27.24 |
|
Liquidity/Acid Test |
0.91 |
0.94 |
0.88 |
0.92 |
0.92 |
|
Return On Capital Employed % |
7.19 |
55.50 |
12.15 |
50.86 |
35.44 |
|
Return On Total Assets Employed % |
3.29 |
27.09 |
3.91 |
10.76 |
7.47 |
|
Current Debt Ratio |
1.19 |
1.09 |
2.13 |
3.69 |
3.99 |
|
Total Debt Ratio |
1.21 |
1.13 |
2.15 |
3.68 |
4.05 |
|
Stock Turnover Ratio % |
4.99 |
3.86 |
3.50 |
5.98 |
8.87 |
|
Return on Net Assets Employed % |
7.29 |
57.88 |
12.34 |
50.39 |
37.71 |
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
|
12/10/2010 |
Annual Returns |
|
|
22/09/2010 |
Change of Company Postcode |
|
|
16/07/2010 |
New Accounts Filed |
|
|
05/07/2010 |
Mr W.G. Boyd has left the board |
|
|
05/07/2010 |
New Board Member Mr K.C. Pratt appointed |
|
|
30/11/2009 |
Annual Returns |
|
|
06/10/2009 |
Annual Returns |
|
|
16/06/2009 |
New Accounts Filed |
|
|
19/10/2008 |
Annual Returns |
|
|
15/07/2008 |
New Accounts Filed |
|
|
26/05/2008 |
Annual Returns |
|
|
06/08/2007 |
New Accounts Filed |
|
|
06/08/2007 |
New Accounts Filed |
|
|
02/07/2007 |
SIMON CASHMAN has left the board |
|
|
02/07/2007 |
New Board Member (MARK JENKINS) appointed |
|
Limit History
|
Date |
Limit |
|
16/07/2010 |
£1,100,000 |
|
06/10/2009 |
£900,000 |
|
06/03/2009 |
£900,000 |
|
15/07/2008 |
£5,000,000 |
|
06/08/2007 |
£0 |
|
20/10/2006 |
£3,500,000 |
|
09/03/2006 |
£5,000,000 |
Previous Company Names
|
Date |
Previous Name |
Companies House Documents |
|
29/07/1999 |
SIGNET UK TRADING LIMITED |
|
|
17/06/1999 |
SIGNET UK JEWELLERY LIMITED |
|
Group Structure
Summary
|
Company Name |
SIGNET TRADING LIMITED |
Company Number |
03768979 |
|
Holding Company |
SIGNET HOLDINGS LIMITED |
Ownership Status |
Wholly Owned |
|
Ultimate Holding Company |
SIGNET JEWELERS LTD |
Companies in group |
31 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.67 |
|
UK Pound |
1 |
Rs.76.50 |
|
Euro |
1 |
Rs.66.98 |
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.