MIRA INFORM REPORT

 

 

Report Date :

04.08.2012

 

IDENTIFICATION DETAILS

 

Name :

T. J. MORRIS LTD.

 

 

Registered Office :

Portal Way, Liverpool, L11 0JA, Merseyside County

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.06.1980

 

 

Date of Incorporation :

30.06.1980

 

 

Com. Reg. No.:

01505036

 

 

Legal Form :

Private Parent

 

 

Line of Business :

Retail sale in non-specialised stores

 

 

No. of Employees :

6,912

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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, 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

 

T. J. Morris Ltd.

 

 

 

Portal Way

 

 

Liverpool, L11 0JA

United Kingdom

Map

 

Tel:

0151 530 2920

Fax:

0151 530 2922

 

www.tjmorris.co.uk

 

Employees:

6,912

Company Type:

Private Parent

Corporate Family:

2 Companies

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

30-Jun-1980

Auditor:

Moore Stephens (North West) LLP

 

Financials in:

 

 

 

Fiscal Year End:

30-Jun-2011

Reporting Currency:

British Pound Sterling

Annual Sales:

1,146.6  1

Net Income:

67.5

Total Assets:

538.8

 

 

 

 

Business Description

 

 

From humble beginnings more than 30 years ago, T.J. Morris Ltd. has grown to more than 100 stores. It is one of the largest companies in Merseyside. This success has been achieved by applying one simple principle: selling branded goods at the lowest possible price. Its stores carry a wide range of top-quality high street brands, including health and beauty products, household goods, food and toys. T.J. Morris’ stock is constantly changing and its stores are well known for being bright, attractive and welcoming. The company maintains its head offices in Liverpool, Merseyside. (Updated by OneSource Information Services)

 

 

Industry

 

 

Industry

Retail (Grocery)

ANZSIC 2006:

4279 - Other Store-Based Retailing Not Elsewhere Classified

NACE 2002:

5212 - Other retail sale in non-specialised stores

NAICS 2002:

4451 - Grocery Stores

UK SIC 2003:

5212 - Other retail sale in non-specialised stores

US SIC 1987:

5399 - Miscellaneous General Merchandise Stores

 

 

Key Executives

 

 

Name

Title

 

Thomas Morris

Managing Director

 

Graeme McLoughlin

Finance Director and Company Secretary

 

Gary Cobb

Warehouse and Logistics Operations Manager

 

Rachel Prothero

Human Resources

 

Gill Riley

Head of Payroll

 

 

News

 

 

Title

Date

Now you can roll your own
St. Joseph News-Press (MO) (290 Words)

13-Oct-2011

 

Financial Summary

 

 

 

 

FYE: 30-Jun-2011

USD (mil)

Key Figures

 

Current Assets

231.63

Fixed Assets

307.14

Total Liabilities

145.88

Net Worth

342.23

 

Key Ratios

 

Current Ratio

1.59

Acid Test

0.88

Debt Gearing

7.63

 

Source: Experian Ltd.

 

 

 

 

Registered No.(UK)

 

01505036

 

 

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
Portal Way
Liverpool, L11 0JA
Merseyside County
United Kingdom

 

Tel:

0151 530 2920

Fax:

0151 530 2922

 

www.tjmorris.co.uk

Sales GBP(mil):

721.4

Assets GBP(mil):

335.6

Employees:

6,912

Fiscal Year End:

30-Jun-2011

 

 

 

Industry:

Retail (Grocery)

Registered Address:
T J Morris Limited Portal Way
Axis Business Park
Gillmoss
Liverpool, L11 0JA
United Kingdom

 

Incorporation Date:

30-Jun-1980

Company Type:

Private Parent

Quoted Status:

Not Quoted

Registered No.(UK):

01505036

 

Finance Director and Company Secretary:

Graeme McLoughlin

 

 

Industry Codes

 

 

 

ANZSIC 2006 Codes:

4279

-

Other Store-Based Retailing Not Elsewhere Classified

 

NACE 2002 Codes:

5212

-

Other retail sale in non-specialised stores

 

NAICS 2002 Codes:

4451

-

Grocery Stores

 

US SIC 1987:

5399

-

Miscellaneous General Merchandise Stores

 

UK SIC 2003:

5212

-

Other retail sale in non-specialised stores

Top

Business Description

From humble beginnings more than 30 years ago, T.J. Morris Ltd. has grown to more than 100 stores. It is one of the largest companies in Merseyside. This success has been achieved by applying one simple principle: selling branded goods at the lowest possible price. Its stores carry a wide range of top-quality high street brands, including health and beauty products, household goods, food and toys. T.J. Morris’ stock is constantly changing and its stores are well known for being bright, attractive and welcoming. The company maintains its head offices in Liverpool, Merseyside. (Updated by OneSource Information Services)

Source: Experian Ltd.

More Business Descriptions

Wholesale and retail trade in confectionery, household goods and toiletries

Source: Graham & Whiteside

Household Stores

Source: 118 Info

Top

 

 

 

 

Brand/Trade Names

Home Bargains

 

Top

Financial Data

Financials in:

GBP(mil)

 

Revenue:

721.4

Net Income:

42.5

Assets:

335.6

Current Assets:

144.3

 

Fixed Assets:

191.3

 

Long Term Debt:

16.3

 

Total Liabilities:

107.1

 

Issued Capital:

0.0

 

Working Capital:

53.4

 

Net Worth:

213.2

 

 

 

Date of Financial Data:

30-Jun-2011

 

1 Year Growth

22.2%

NA

NA

Top

Key Corporate Relationships

Auditor:

Moore Stephens (North West) LLP

 

Auditor:

Moore Stephens (North West) LLP, Moore Stephens (North West) LLP

 

 

 

GBP(mil)

Audit Fees:

0.0

Non Audit Fees:

0.1

Audit Fiscal Year:

06-30-2011

 

 

 

Top

 

Corporate Family

Corporate Structure News:

 

T. J. Morris Ltd.

T. J. Morris Ltd.
Total Corporate Family Members: 2

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Source

T. J. Morris Ltd.

Parent

Liverpool

United Kingdom

Retail (Grocery)

1,146.6

6,912

EXP

Home Bargains

UK Branch/Trading address

Manchester

United Kingdom

Retail (Grocery)

1,146.6

10

ML

 

 

 

 

 

T. J. Morris Ltd.

Liverpool, , United Kingdom, Tel: 0151 530 2920, URL: http://www.tjmorris.co.uk

 

Executives Report

 

Board of Directors

 

Name

Title

Function

 

Thomas Morris

 

Managing Director

Director/Board Member

 

Age: 58

 

 

Executives

 

Name

Title

Function

 

Thomas Morris

 

Managing Director

Managing Director

 

Age: 58

 

Gary Cobb

 

Warehouse and Logistics Operations Manager

Operations Executive

 

 

Joseph Lawrence Morris

 

Operations Director

Operations Executive

 

 

Age: 53

 

Education:

Warwick University

 

Tony Steed

 

Health & Safety Manager

Environment/Safety Executive

 

 

Graeme McLoughlin

 

Finance Director and Company Secretary

Company Secretary

 

 

Age: 45

 

Gill Riley

 

Head of Payroll

Benefits & Compensation Executive

 

 

Laine Maw

 

HR Manager

Human Resources Executive

 

 

Rachel Prothero

 

Human Resources

Human Resources Executive

 

 

Chris Wood

 

Training Manager

Training Executive

 

 

 

 

Directors and Shareholders Report

 

Main Office Address:
Portal Way
Liverpool
United Kingdom L11 0JA

Tel: 0151 530 2920
Fax: 0151 530 2922
URL: http://www.tjmorris.co.uk

Annual Return Date: 05 Oct 2011
Total Issued Capital (GBP 000): 20

 

Individual Directors

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Joseph Lawrence
Morris

Current

25 May 1959

12 Redcar Close,
Leamington Spa, Warwickshire CV32 7SU

06 May 2005

NA

Current:1
Previous:5
Disqualifications:0

 

Thomas Joseph
Morris

Current

10 Feb 1954

412 The Colonnades, Albert Dock,
Liverpool, Merseyside L3 4AB

29 Dec 1991

NA

Current:4
Previous:1
Disqualifications:0

 

Linda
Morris

Previous

10 Jun 1954

1 Bracken Way, West Derby,
Liverpool, Merseyside L12 1NB

29 Dec 1991

15 Mar 1995

Current:0
Previous:1
Disqualifications:0

 

Edward
Morris

Previous

10 Jun 1956

Birchall Moss Cottage Bridgemere Lane, Hatherton,
Nantwich, Cheshire CW5 7PL

20 Sep 1999

28 Feb 2011

Current:1
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

 

Graeme Peter
Mcloughlin

Current

07 Jun 1967

10 Moor Drive, Crosby,
Liverpool, Merseyside L23 2UP

31 Mar 2008

NA

Current:4
Previous:1
Disqualifications:0

 

Joseph Lawrence
Morris

Previous

25 May 1959

12 Redcar Close,
Leamington Spa, Warwickshire CV32 7SU

24 Mar 1994

30 Jan 1996

Current:1
Previous:5
Disqualifications:0

 

Joan Therese
Mcmonnies

Previous

NA

23 Palladio Road, Stoneycroft,
Liverpool, Merseyside L13 6SJ

30 Jan 1996

31 Mar 2008

Current:0
Previous:4
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

Edward Morris

1000 Ordinary GBP 1.00

Ordinary

1,000

1.00

1,000.00

4.76

Thomas Joseph Morris

19000 Ordinary GBP 1.00

Ordinary

19,000

1.00

19,000.00

90.48

Thomas Joseph Morris

1000 Ordinary GBP 1.00

Ordinary

1,000

1.00

1,000.00

4.76

 

 

 

 

 

 

 

 

Corporate Shareholders

 

There are no corporate shareholders for this company.

 

 

T. J. Morris Ltd.

 

Liverpool, United Kingdom, Tel: 0151 530 2920, URL: http://www.tjmorris.co.uk

Annual Profit & Loss

Financials in: USD (mil)

 

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

 

 

 

 

 

  Financial Glossary

 

 

 

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

 

 

 

 

 

 

Turnover (UK)

1,146.6

931.7

767.5

768.1

622.9

Turnover (Exports)

0.0

0.0

0.0

0.0

0.0

Total Turnover

1,146.6

931.7

767.5

768.1

622.9

Cost of Sales

815.9

668.0

550.6

546.6

443.1

Gross Profit

330.8

263.7

217.0

221.5

179.8

Depreciation

23.6

19.0

13.9

13.3

10.7

Other Expenses

236.7

187.8

148.0

153.9

122.4

Other Income

1.2

0.7

1.1

1.9

1.3

Interest Paid

0.9

0.9

1.6

0.5

0.4

Exceptional Income

0.0

-0.1

-0.5

0.0

0.0

Discontinued Operations

0.0

0.0

0.0

0.0

-

Profit Before Taxes

94.5

75.6

67.9

69.0

58.3

Tax Payable / Credit

27.0

22.8

20.5

22.1

19.7

Extraordinary Items/Debits

0.0

0.0

0.0

0.0

0.0

Dividends

0.0

0.0

0.0

0.0

0.0

Profit After Taxes

67.5

52.8

47.5

46.9

38.7

Minority Interests (Profit & Loss)

0.0

0.0

0.0

0.0

0.0

Audit Fees

0.1

0.1

0.1

0.1

0.1

Non Audit Fees

0.1

0.0

0.0

-

-

Number of Employees

6,912

4,829

4,006

3,443

3,081

Wages

121.0

91.9

71.5

72.6

56.0

Social Security Costs

7.2

5.3

4.1

4.4

3.4

Pensions

2.0

-

-

0.0

0.0

Other Pension Costs

2.0

0.0

0.0

0.0

0.0

Employees Remuneration

130.2

97.3

75.7

77.1

59.4

Directors Emoluments

13.3

-

-

5.6

2.2

Other Costs

0.0

-

-

0.0

0.0

Directors Remuneration

15.3

8.2

4.3

5.6

2.2

Highest Paid Director

10.0

5.1

3.5

4.6

1.4

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

  Financial Glossary

 

 

 

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

 

 

 

 

 

 

Land & Buildings

245.9

214.0

231.1

164.0

127.0

Fixtures & Fittings

30.1

24.7

23.7

23.5

20.2

Plant & Vehicles

31.2

28.9

9.1

9.9

8.2

Total Tangible Fixed Assets

307.1

267.5

264.0

197.3

155.4

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

307.1

267.5

264.0

197.3

155.4

Stocks

103.5

69.0

45.7

44.5

40.1

Work in Progress

0.0

0.0

0.0

0.0

0.0

Total Stocks Work In Progress

103.5

69.0

45.7

44.5

40.1

Trade Debtors

12.9

15.3

15.1

16.4

7.9

Director Loans

-

0.0

1.4

2.1

1.6

Other Debtors

70.9

47.3

40.2

40.6

30.6

Total Debtors

83.8

62.6

56.7

59.1

40.1

Cash and Equivalents

12.2

0.2

7.7

0.2

4.5

Other Current Assets

32.1

7.5

8.2

19.9

2.0

Total Current Assets

231.6

139.3

118.4

123.7

86.7

Total Assets

538.8

406.8

382.4

321.0

242.1

Trade Creditors

65.6

48.8

38.6

45.0

26.8

Bank Overdraft

27.9

27.5

5.0

3.8

0.1

Director Loans (Current Liability)

0.0

0.4

0.0

-

-

Accruals/Deferred Income (Current Liability)

20.5

31.2

25.8

27.2

20.8

Social Security/VAT

26.4

12.3

17.5

12.3

14.7

Other Current Liabilities

5.4

4.4

3.5

3.9

3.9

Total Current Liabilities

145.9

124.6

90.5

92.1

66.3

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

26.1

23.4

62.9

10.9

3.5

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

26.1

23.4

62.9

10.9

3.5

Deferred Taxation

3.6

3.5

3.0

4.1

3.6

Other Provisions

21.0

0.0

0.0

0.0

0.0

Total Provisions

24.5

3.5

3.0

4.1

3.6

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

342.2

255.3

226.0

213.8

168.6

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

342.2

255.4

226.0

213.9

168.6

Net Worth

342.2

255.4

226.0

213.9

168.6

 

 

Annual Cash Flows

Financials in: USD (mil)

 

  Financial Glossary

 

 

 

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

 

 

 

 

 

 

Net Cash Flow From Operating Activities

102.5

77.4

75.1

82.8

65.1

Net Cash Flow from ROI and Servicing of Finance

-0.6

-0.8

-1.0

0.9

0.3

Taxation

-22.2

-24.1

-16.8

-23.6

-13.9

Capital Expenditures

-43.4

-48.3

-111.9

-57.4

-41.9

Acquisitions and Disposals

0.0

0.0

0.0

0.0

0.0

Paid Up Equity

0.0

0.0

8.0

0.0

0.0

Management of Liquid Resources

-23.8

0.0

0.0

-18.0

0.0

Net Cash Flow From Financing

1.4

-13.3

56.3

8.2

-0.6

Increase in Cash

13.8

-9.1

9.6

-7.2

8.9

 

 

 

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

1.59

1.12

1.31

1.34

1.31

Liquidity Ratio

0.88

0.56

0.80

0.86

0.70

Stock Turnover

11.19

12.80

17.36

17.15

16.14

Credit Period (Days)

4.08

6.31

6.96

7.86

4.44

Working Capital by Sales

7.40%

1.66%

3.52%

4.13%

3.15%

Trade Credit by Debtors

5.07

3.19

2.55

2.74

3.40

Return on Capital

24.29%

25.38%

24.05%

29.97%

34.48%

Return on Assets

17.72%

17.61%

18.36%

21.36%

25.03%

Profit Margin

8.24%

8.11%

8.85%

8.99%

9.36%

Return on Shareholders Funds

27.89%

28.04%

31.05%

32.06%

35.94%

Borrowing Ratio

15.80%

20.09%

30.04%

6.84%

2.17%

Equity Gearing

63.52%

62.78%

59.11%

66.64%

69.65%

Debt Gearing

7.63%

9.15%

27.81%

5.08%

2.10%

Interest Coverage

110.52

80.47

42.64

151.51

144.97

Sales by Tangible Assets

3.77

3.30

3.00

3.87

4.16

Average Remuneration per Employee

0.0

0.0

0.0

0.0

0.0

Profit per Employee

0.0

0.0

0.0

0.0

0.0

Sales per Employee

0.2

0.2

0.2

0.2

0.2

Capital Employed per Employee

0.1

0.1

0.1

0.1

0.1

Tangible Assets per Employee

0.0

0.1

0.1

0.1

0.1

Total Assets per Employee

0.1

0.1

0.1

0.1

0.1

Employee Remuneration by Sales

11.36%

10.44%

9.86%

10.03%

9.54%

Creditor Days (Cost of Sales Based)

29.07

28.12

24.78

30.22

21.22

Creditor Days (Sales Based)

20.68

20.16

17.78

21.51

15.10

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.08

UK Pound

1

Rs.87.02

Euro

1

Rs.68.36

 

 

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.