MIRA INFORM REPORT

 

 

Report Date :

03.08.2012

 

IDENTIFICATION DETAILS

 

Name :

THE PORTOFINO STUDIO COLLECTION LTD.

 

 

Registered Office :

Unit 2, Hamilton Business Park, Gore Road, New Milton, BH25 6TL, Hampshire County

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

08.08.2003

 

 

Com. Reg. No.:

04861232

 

 

Legal Form :

Private Parent

 

 

Line of Business :

Manufacture of Textiles & Textiles Produ

 

 

No. of Employees :

3

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Slow

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 and address

 

The Portofino Studio Collection Ltd.

 

 

 

Unit 2

Hamilton Business Park

Gore Road

New Milton, BH25 6TL

United Kingdom

Map

 

Tel:

01425 611722

 

 

Employees:

3

Company Type:

Private Parent

Corporate Family:

2 Companies

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

08-Aug-2003

 

Financials in:

 

 

 

Fiscal Year End:

31-Dec-2010

Reporting Currency:

British Pound Sterling

Annual Sales:

NA

Total Assets:

0.3

 

 

 

 

 

 

 

 

Business Description

 

 

Manufacture of Textiles & Textiles Produ

 

 

Industry

 

 

 

 

Industry

Textiles - Non Apparel

ANZSIC 2006:

133 - Textile Product Manufacturing

NACE 2002:

1740 - Manufacture of made-up textile articles, except apparel

NAICS 2002:

313 - Textile Mills

UK SIC 2003:

1740 - Manufacture of made-up textile articles, except apparel

US SIC 1987:

239 - Miscellaneous Fabricated Textile Products

 

 

Key Executives

 

 

 

Name

Title

 

Glenys Mary Wanstall

Director

 

James Walter Wanstall

Director

 

Dharmavel Subramaniam

Business

 

 

Financial Summary

 

 

 

 

 

FYE: 31-Dec-2010 USD (mil)

Key Figures

 

Current Assets

0.28

Fixed Assets

0.01

Total Liabilities

0.0000

Net Worth

0.01

 

Key Ratios

 

Current Ratio

1.29

Liquidity Ratio

0.73

 

 

Registered No.(UK)

 

04861232

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6475734


2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6387123

 

 

Corporate Overview

 

 

 

Location
Unit 2
Hamilton Business Park
Gore Road
New Milton, BH25 6TL
Hampshire County
United Kingdom

 

Tel:

01425 611722

 

Suggest Company URL

 

Sales GBP(mil):

NA

Assets GBP(mil):

0.2

Employees:

3

Fiscal Year End:

31-Dec-2010

 

 

 

Industry:

Textiles - Non Apparel

Registered Address:
The George Business Centre
Christchurch Road
New Milton, BH25 6QJ
United Kingdom

 

Incorporation Date:

08-Aug-2003

Company Type:

Private Parent

Quoted Status:

Not Quoted

Registered No.(UK):

04861232

 

Director:

Glenys Mary Wanstall

 

 

Industry Codes

 

ANZSIC 2006 Codes:

1332

-

Rope, Cordage and Twine Manufacturing

133

-

Textile Product Manufacturing

 

NACE 2002 Codes:

1754

-

Manufacture of other textiles not elsewhere classified

1740

-

Manufacture of made-up textile articles, except apparel

 

NAICS 2002 Codes:

313

-

Textile Mills

31499

-

All Other Textile Product Mills

 

US SIC 1987:

239

-

Miscellaneous Fabricated Textile Products

2299

-

Textile goods, Not Elsewhere Classified

 

UK SIC 2003:

1754

-

Manufacture of other textiles not elsewhere classified

1740

-

Manufacture of made-up textile articles, except apparel

 

 

Business Description

 

Manufacture of Textiles & Textiles Produ

 

 

More Business Descriptions

 

Beds and Bedding

 

 

Financial Data

 

Financials in:

GBP(mil)

 

Assets:

0.2

Current Assets:

0.2

 

Fixed Assets:

0.0

 

Long Term Debt:

0.0

 

Issued Capital:

0.0

 

Working Capital:

0.0

 

Net Worth:

0.0

 

 

 

Date of Financial Data:

31-Dec-2010

 

 

1 Year Growth

NA

 

Key Corporate Relationships

 

 

GBP(mil)

Audit Fees:

0.0

Audit Fiscal Year:

12-31-2010

 

 

 

Top

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

The Portofino Studio Collection Ltd.

The Portofino Studio Collection Ltd.
Total Corporate Family Members: 2

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Source

The Portofino Studio Collection Ltd.

Parent

New Milton

United Kingdom

Textiles - Non Apparel

 

3

RM

The Studio Collection Ltd.

Subsidiary

New Milton

United Kingdom

Nonclassifiable Industries

 

 

RM

 

 

 

 

 

The Portofino Studio Collection Ltd.

New Milton, , United Kingdom, Tel: 01425 611722

Executives Report

 

Board of Directors

 

Name

Title

Function

 

Dharmavel Subramaniam

 

Business

Director/Board Member

 

Age: 52

 

Glenys Mary Wanstall

 

Director

Director/Board Member

 

 

Age: 61

 

James Walter Wanstall

 

Director

Director/Board Member

 

 

Age: 67

 

 

Executives

 

Name

Title

Function

 

Glenys Mary Wanstall

 

Director

Company Secretary

 

Age: 61

 

 

 

 

 

 Directors and Shareholders Report

 

Main Office Address:
Unit 2
Hamilton Business Park
New Milton
United Kingdom BH25 6TL

Tel: 01425 611722

Annual Return Date: 08 Aug 2011

 

Individual Directors

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Dharmavel
Subramaniam

Current

15 May 1960

F 1 Sri Krishna Apt, 134/66 Pillaiyar Koilsi,
Jafferkhnanpet, Chennai 60083

15 Aug 2007

NA

Current:1
Previous:0
Disqualifications:0

 

Glenys Mary
Wanstall

Current

23 Jun 1951

21 Leelands, Pennington,
Lymington, Hampshire SO41 8EY

14 Aug 2003

NA

Current:9
Previous:0
Disqualifications:0

 

James Walter
Wanstall

Current

27 Feb 1945

21 Leelands,
Lymington, Hampshire SO41 8EY

14 Aug 2003

NA

Current:5
Previous:2
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

 

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Form 10 Directors Fd Limited

Previous

39A Leicester Road, Salford,
Salford, Greater Manchester M7 4AS

08 Aug 2003

13 Aug 2003

 

 

 

 

Individual Secretaries

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Glenys Mary
Wanstall

Current

23 Jun 1951

21 Leelands, Pennington,
Lymington, Hampshire SO41 8EY

14 Aug 2003

NA

Current:9
Previous:0
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

 

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Form 10 Secretaries Fd Limited

Previous

1St Floor 47, Bury New Road Prestwich,
Manchester, Greater Manchester M25 9JY

08 Aug 2003

13 Aug 2003

 

 

 

 

Individual Shareholders

 

Name

Share Details
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Mr. James Walter Wanstall

1 Ordinary GBP 1.00

Ordinary

1

1.00

1.00

50.00

Mrs. Glenys Mary Wanstall

1 Ordinary GBP 1.00

Ordinary

1

1.00

1.00

50.00

 

 

 

 

 

 

 

 

Corporate Shareholders

 

There are no corporate shareholders for this company.

 

 

The Portofino Studio Collection Ltd.

 

New Milton, United Kingdom, Tel: 01425 611722

Annual Profit & Loss

Financials in: USD (mil)

 

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

 

 

 

 

 

  Financial Glossary

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.647573

0.641508

0.545576

0.499878

0.543438

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Audit Fees

0.0

0.0

0.0

0.0

0.0

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

  Financial Glossary

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.638712

0.619253

0.695531

0.502361

0.510947

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Total Tangible Fixed Assets

0.0

0.0

0.0

0.0

0.0

Total Fixed Assets

0.0

0.0

0.0

0.0

0.0

Total Stocks

0.1

0.1

0.2

0.2

0.1

Trade Debtors

0.1

0.1

0.1

0.2

0.2

Cash and Equivalents

0.0

0.0

0.0

0.0

0.0

Other Current Assets

0.1

0.0

0.0

0.0

0.0

Total Current Assets

0.3

0.3

0.3

0.4

0.3

Total Assets

0.3

0.3

0.3

0.5

0.3

Trade Creditors

0.2

0.2

0.2

0.4

0.3

Bank Overdraft

0.0

0.0

0.0

0.0

0.0

Bank Loan Overdrafts

0.0

0.0

0.0

0.0

0.0

Total Short Term Loans

0.0

0.0

0.0

0.0

0.0

Other Current Liabilities

0.0

0.0

0.0

0.0

0.0

Total Current Liabilities

0.0

0.0

0.0

0.0

0.0

Working Capital

0.1

0.1

0.0

0.0

0.0

Total Long Term Loans

0.0

0.0

0.0

0.0

0.0

Other Long Term Liabilities

0.1

0.1

0.0

0.0

0.0

Total Long Term Liabilities

0.1

0.1

0.0

0.0

0.0

Issued Capital

0.0

-

-

-

-

Retained Earnings

0.0

0.0

0.0

0.0

0.0

Total Reserve

0.0

0.0

0.0

0.0

0.0

Total Shareholders Funds

0.0

0.0

0.0

0.0

0.0

Net Worth

0.0

0.0

0.0

0.0

0.0

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

  Financial Glossary

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.647573

0.641508

0.545576

0.499878

0.543438

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Paid Up Equity

0.0

0.0

0.0

0.0

0.0

 

 

 

Annual Ratios

 

 

 

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

Filed Currency

-

-

-

-

-

Exchange Rate

-

-

-

-

-

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

1.29

1.29

1.11

1.05

1.06

Liquidity Ratio

0.73

0.72

0.44

0.59

0.57

Solvency Ratio

4.12%

0.22%

12.66%

6.97%

7.67%

Current Debt Ratio

17.99

338.44

6.90

13.35

12.04

Long Term Debt Ratio

0.84

0.99

0.00

0.00

0.00

Total Debt Ratio

23.30

452.48

6.90

13.35

12.04

Debt Asset Ratio

74.06%

74.63%

87.34%

93.03%

92.33%

Working Finance

437.48%

384.02%

-

-

-

Stock Financing

1.95

1.96

6.29

8.99

8.40

Fixed Asset Investment

0.05

0.03

0.03

0.02

0.02

Shareholder Liquidity

0.19

0.01

-

-

-

Stock to Total Assets

239.55%

231.97%

172.88%

232.33%

223.95%

Financial Strength Ratio

7.32

116.06

1.55

1.64

1.63

Reserve Movement

1,843.99%

-98.30%

45.34%

21.31%

50.79%

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.77

UK Pound

1

Rs.86.74

Euro

1

Rs.68.31

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.