MIRA INFORM REPORT

 

 

Report Date :

20.06.2012

 

IDENTIFICATION DETAILS

 

Name :

GRABAL ALOK (UK) LIMITED

 

 

Registered Office :

Tureck House, Drayton Road, Shirley, Solihull, B90 4NG.

 

 

Country :

United Kingdom

 

 

Financials (as on) :

02.04.2011

 

 

Date of Incorporation :

04.07.2001

 

 

Com. Reg. No.:

04246489

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Retailers of clothing

 

 

No. of Employees :

1,060

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

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 Identification Details

 

Subject Reported on

GRABAL ALOK (UK) LIMITED

Registration Number

04246489

VAT Number

GB927506219

Address

UNIT 1 PLOT C1, CENTRAL BOULEVARD, BLYTHE VALLEY BUSINESS PARK, SOLIHULL WEST MIDLANDS, B90 8AH.

Telephone

0121 746 7000

Email

customerservices@storetwentyone.co.uk

Web Address

www.storetwentyone.co.uk

 

 

 

 

Official Company Data

 

 

Legal Form

Private Limited

Registration Number

04246489

VAT Number

GB927506219

Subject Status

Trading

Date of Incorporation

04/07/2001

Registered Office

TURECK HOUSE, DRAYTON ROAD, SHIRLEY, SOLIHULL, B90 4NG.

History

2/04/2007 : Change of name from HAMSARD 2353 LIMITED.

 

8/08/2006 : The Registered Office address changed from TURECK HOUSE DRAYTON ROAD, SHIRLEY, SOLIHULL,.

 

7/07/2006 : The Registered Office address changed from HARBOUR HOUSE, 121 GARDNER ROAD PORTSLADE, BR.

 

Previously located at HARBOUR HOUSE, 121 GARDNER ROAD PORTSLADE, BR.

 

12/11/2002 : The Registered Office address changed from YORKSHIRE HOUSE, GREEK STREET, LEEDS, WEST YO.

 

12/09/2002 : The Registered Office address changed from RUTLAND HOUSE 148 EDMUND STREET, BIRMINGHAM,.

 

Previously located at TURECK HOUSE DRAYTON ROAD, SHIRLEY, SOLIHULL,.

Date of Last Annual Return to Registry

04/07/2011

Accounts

The last filed accounts at Companies House are those to 02/04/2011

Accounting Reference Date

01/04

 

 

 

Operations

 

 

Activities

Retailers of clothing.

Nace Code

5242

Premises

Owned,& Leased,Offices,Shop,Warehouse

Staff Employed

1,060

Trade Names

STORE TWENTY ONE, QS

Import Countries

ASIA

Export Countries

ALL OVER THE WORLD

Bankers

BARCLAYS BANK PLC

Address

BRIGHTON.

Sort Code

201275

Auditors

Kingston Smith LLP

Branches

205 STORES IN THE UK.

Subsidiaries

BE WISE GROUP LIMITED

 

BE-WISE LIMITED

 

QS (WEST) LIMITED

 

QS GROUP PLC

 

QS PLC

 

QS PROPERTIES LIMITED

 

STATIONERY EXPRESS RETAIL LIMITED

 

 

 

 

Previous Searches

 

Search History Summary

 

Last 3 Months

Last 6 Months

Last 12 Months

16

31

59

 

Search History Details

 

The Search History Details shows details of the most recent 40 searches

 

Date

Description

15/06/2012

Miscellaneous

08/06/2012

Miscellaneous

07/06/2012

Miscellaneous

01/06/2012

Casting of steel

18/05/2012

Miscellaneous

17/05/2012

Miscellaneous

17/05/2012

Miscellaneous

14/05/2012

Miscellaneous

11/05/2012

Miscellaneous

30/04/2012

Sea and coastal passenger water transport

26/04/2012

Miscellaneous

24/04/2012

Miscellaneous

04/04/2012

Casting of steel

02/04/2012

Miscellaneous

29/03/2012

Miscellaneous

20/03/2012

Miscellaneous

14/03/2012

Miscellaneous

14/03/2012

Miscellaneous

09/03/2012

Miscellaneous

07/03/2012

Miscellaneous

07/03/2012

Miscellaneous

06/03/2012

Miscellaneous

15/02/2012

Miscellaneous

01/02/2012

Miscellaneous

27/01/2012

Miscellaneous

23/01/2012

Miscellaneous

19/01/2012

Miscellaneous

19/01/2012

Miscellaneous

18/01/2012

Miscellaneous

11/01/2012

Miscellaneous

05/01/2012

Miscellaneous

16/12/2011

Miscellaneous

13/12/2011

Miscellaneous

08/12/2011

Miscellaneous

21/11/2011

Miscellaneous

16/11/2011

Miscellaneous

16/11/2011

Miscellaneous

10/11/2011

Miscellaneous

04/11/2011

Miscellaneous

25/10/2011

Miscellaneous

 

 

 

Public Record Information

 

 

Summary of CCJ's/Scottish Decrees

 

No CCJs/Scottish Decrees are recorded in our file.

 

 

 

Summary of Mortgages, Charges and Satisfactions

 

 

Total Number of Mortgages/Charges Registered

13

Number Outstanding

2

Number Partially Satisfied

1

Number Satisfied

10

 

 

Date of Latest Mortgage Created

30/04/2010

Date of Latest Partial Satisfaction

08/05/2010

Date of Latest Satisfaction

23/11/2010

 

 

 

Details of most recent Mortgages, Charges and Satisfactions

 

 

Date Fully
Satisfied

Date
Registered

Date
Created

Charge
Description

Form Type

Lender

 

08/05/2010

30/04/2010

Debenture

MG01

State Bank Of India

 

07/04/2010

17/03/2010

First Debenture Without Written Instrument

MG01

State Bank Of India

22/12/2009

28/03/2009

18/03/2009

Guarantee Debenture

395

Barclays Bank Plc

 

25/07/2008

08/07/2008

Rent Deposit Deed Containing Charge

395

Threadneedle Pensions Limited

23/11/2010

16/07/2007

29/06/2007

Deed Of Security Over Accounts

395

The Hongkong And Shanghai Banking Corporation Limited

10/12/2008

21/06/2006

04/05/2005

Guarantee Debenture

400

Whittals Wines Limited Acting As Security Trustee On Behalf

22/12/2009

21/06/2006

25/02/2003

Composite Debenture And Guarantee

400

Barclays Bank Plc

22/12/2009

14/06/2006

04/10/2003

Supplemental Deed To A Composite Guarantee And Debenture Dated....

400

Barclays Bank Plc

22/12/2009

14/06/2006

25/02/2003

Composite Guarantee And Debenture

400

Barclays Bank Plc

22/12/2009

08/06/2006

02/06/2006

Supplemental Legal Charge

395

Barclays Bank Plc

 

It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.

 

 

 

Other Filings and Notices

 

 

Date

Source

Description

 

29/03/2012

Companies House Gazette

Notification of any change among the company's directors

19/10/2010

Companies House Gazette

Any amendment to company's articles (including every resolution or agreement required to be embodied in or annexed to copies of the company's articles issued by

31/03/2009

Companies House Gazette

Special resolutions passed under section 95 disapplication of pre-emption rights

31/03/2009

Companies House Gazette

Resolutions which give vary

31/03/2009

Companies House Gazette

Alteration in memorandum or articles of association

11/12/2008

Companies House Gazette

Change among directors of a company

04/12/2008

Companies House Gazette

Change among directors of a company

25/11/2008

Companies House Gazette

Change among directors of a company

19/08/2008

Companies House Gazette

Change among directors of a company

16/07/2008

Companies House Gazette

Change among directors of a company

14/07/2008

Companies House Gazette

Change among directors of a company

20/06/2008

Companies House Gazette

Change among directors of a company

20/05/2008

Companies House Gazette

Change among directors of a company

15/05/2008

Companies House Gazette

Change among directors of a company

19/04/2008

Companies House Gazette

Change among directors of a company

31/03/2008

Companies House Gazette

Alteration in memorandum or articles of association

31/03/2008

Companies House Gazette

Resolutions which give vary

31/03/2008

Companies House Gazette

Special resolutions passed under section 95 disapplication of pre-emption rights

09/02/2008

Companies House Gazette

Change among directors of a company

16/08/2007

Companies House Gazette

Alteration in memorandum or articles of association

 

 

 

Company Secretary

 

 

Secretary

MR MOHI AHMED

Service Address

TURECK HOUSE, DRAYTON ROAD, SHIRLEY, SOLIHULL, B90 4NG.

Country of Origin

INDIA

Appointment Date

01/04/2011

 

 

 

Directors

 

 

Director

MR MOHIUDDIN AHMED

Service Address

TURECK HOUSE, DRAYTON ROAD, SHIRLEY, SOLIHULL, B90 4NG.

Country of Origin

UNITED KINGDOM

Date of Birth

01/02/1974

Appointment Date

26/03/2012

Other Directorships

KAISER CAPITAL UK LIMITED


Director


MR KINGPAL SINGH TATLA

Service Address

47 LONDON ROAD, LANGLEY, SLOUGH, BERKSHIRE, SL3 7RP.

Country of Origin

UNITED KINGDOM

Date of Birth

13/05/1950

Appointment Date

17/03/2003


Director


DILIP JIWRAJKA

Service Address

6 BAY VIEW ABDUL GAFAR KHAN ROAD, WORLI QEA, FACE WORLI MUMBAI, MAHARASHTRA, 400 030.

Country of Origin

INDIA

Date of Birth

09/10/1956

Appointment Date

22/05/2006


Director


MR ANUPAM JHUNJHUNWALA

Service Address

TURECK HOUSE, DRAYTON ROAD, SHIRLEY, SOLIHULL, B90 4NG.

Country of Origin

INDIA

Date of Birth

09/10/1971

Appointment Date

02/02/2007

Other Directorships

BE-WISE LIMITED, QS PLC, QS (WEST) LIMITED


Director


ASHOK JIWRAJKA

Service Address

301 KRISHNAKUNJ SHIVAJI PARK ROAD, NO 5 MAHIM MUMBAI, 400016, MAHARASHTRA.

Country of Origin

INDIA

Date of Birth

07/10/1950

Appointment Date

14/12/2006


Director


MR INDRU VASWANI

Service Address

605 SILVER ARCH APTS, 22 FEROZSHAH ROAD NEW DELHI, DELHI, 110001.

Country of Origin

INDIA

Date of Birth

25/04/1951

Appointment Date

21/01/2008


Director


MR SURENDRA JIWRAJKA

Service Address

901 PALM BEACH POCHKHAN WALA ROAD, WORLI MUMBAI, MUMBAI.

Country of Origin

INDIA

Date of Birth

17/10/1958

Appointment Date

14/07/2008


Director


MR. MARK WESTMORELAND

Service Address

TURECK HOUSE, DRAYTON ROAD, SHIRLEY, SOLIHULL, B90 4NG.

Country of Origin

UNITED KINGDOM

Date of Birth

05/05/1693

Appointment Date

26/03/2012

 

 

 

Share Capital

 

 

Shares

Ordinary GBP 0.00

Issued Number

568,536,714

Principal Shareholder

276,950,232 Grabal Alok International Ltd

 

237,197,008 Alok Industries International Ltd

 

18,367,356 Dhamecha Foods Ltd

 

8,000,000 Raj Chatha 2004 Family Trust

 

5,898,271 Norham House 1019 Ltd

 

4,272,973 European Food Brokers Ltd

 

4,272,973 Whittals Wines Ltd

 

2,847,223 Bakerloo Commercial Inc.

 

1,792,990 Dhothar Investments Ltd

 

1,768,391 Wetherby Fashions Ltd

 

1,517,602 Innis Associates SA

 

887,340 Amit Dhamecha

 

887,340 Rupen Dhamecha

 

887,340 Manish Dhamecha

 

887,340 Pradip Dhamecha

 

The above reflects the principle shareholder(s) by number of shares held, irrespective of share classification type.

 

 

 

 

 

Financial Data– Statutory Accounts

 

 

For annual accounts images, view the

 

Profit and Loss

 

The following figures are shown in units of 1000

 

Number of Weeks

53

52

52

52

Accounts Date

02/04/2011

27/03/2010

28/03/2009

29/03/2008

Consolidated

Yes

Yes

Yes

Yes

Currency

GBP

GBP

GBP

GBP

SALES

107318

98760

91303

94709

Cost of goods sold

100879

93303

97620

104776

GROSS PROFIT

6439

5457

(6317)

(10067)

Wages and Salaries

20496

18865

21914

22338

Directors Emoluments

568

500

583

919

Auditors Fees

50

78

74

62

Non-Audit Fees

35

 

29

23

Trading Profit

1548

(3004)

(17966)

(22027)

Depreciation

3636

2373

2394

1200

OPERATING PROFIT

(2088)

(5377)

(20360)

(23227)

Non Trading Income

67

40

164

103

Interest Payable

1259

1058

1546

1572

PRE TAX PROFIT

(3280)

(6395)

(21742)

(24696)

PROFIT AFTER TAX

(3280)

(6395)

(21742)

(24696)

RETAINED PROFITS

(3280)

(6395)

(21742)

(24696)

 

Balance Sheet

 

The following figures are shown in units of 1000

 

Number of Weeks

53

52

52

52

Accounts Date

02/04/2011

27/03/2010

28/03/2009

29/03/2008

Consolidated

Yes

Yes

Yes

Yes

Currency

GBP

GBP

GBP

GBP

TOTAL FIXED ASSETS

27321

17724

13845

13491

Tangible Assets

27321

17724

13845

13491

Fixed Assets

27071

17724

13845

13336

Intermediate assets

250

 

 

155

TOTAL CURRENT ASSETS

38568

37625

38542

29697

Stocks

16631

15175

14813

16731

Other Current Assets

21937

22450

23729

12966

Misc Current Assets

20332

17498

22512

7656

Cash

1605

4952

1217

5310

TOTAL ASSETS

65889

55349

52387

43188

TOTAL CURRENT LIABILITIES

26318

44606

16260

32084

Trade creditors

9709

9436

8395

4582

Short Term Loans

9638

32549

3838

21961

Bank Overdraft

7785

32549

3838

21945

Other Finance

1853

 

 

16

Other Liabilities

6971

2621

4027

5541

WORKING CAPITAL

12250

(6981)

22282

(2387)

TOTAL LONG TERM LIABS

39608

7500

26489

4025

Long Term Loans

39358

7500

26481

4000

Bank Loans

 

 

24481

 

Other Finance

39358

7500

2000

2000

Due To Group

 

 

 

2000

Other Liabilities

250

 

8

25

NET ASSETS/(LIABILITIES)

(37)

3243

9638

7079

SHARE CAPITAL + RESERVES

(37)

3243

9638

7079

Share Cap + Sundry Res

99790

99790

99790

75489

Issued Share Capital

569

569

569

421

Sundry Reserves

99221

99221

99221

75068

Revaluation Reserves

1335

1335

1335

1335

Profit and Loss account

(101162)

(97882)

(91487)

(69745)

SHAREHOLDERS FUNDS

(37)

3243

9638

7079

CAPITAL EMPLOYED

39571

10743

36127

11104

 

Financial Comparison

 

The following figures are shown in units of 1000

 

Number of Weeks

53

52

52

52

Accounts Date

02/04/2011

27/03/2010

28/03/2009

29/03/2008

Consolidated

Yes

Yes

Yes

Yes

Currency

GBP

GBP

GBP

GBP

Net Cashflow from Oper.

26

334

(21574)

(33854)

Increase in Cash

16936

(1447)

(3575)

4638

Directors Remuneration

568

500

583

919

Auditors Remuneration

50

78

74

62

Liquid Assets

1605

4952

1217

5310

Net Working Capital

12250

(6981)

22282

(2387)

Long Term Debt(>12 Months)

39358

7500

26481

4000

Other Deferred Liabs

250

 

8

25

Tangible Net Worth(T.N.W)

(37)

3243

9638

7079

Equity

(37)

3243

9638

7079

Number of Years Trading

10

9

8

7

Number of Employees

1060

1006

1194

1511

Profit per Employee

(3094.3)

(6356.9)

(18209.4)

(16344.1)

Sales per Employee

101243.4

98171

76468.2

62679.7

 

Key Credit Ratios

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

02/04/2011

27/03/2010

28/03/2009

29/03/2008

Consolidated

Yes

Yes

Yes

Yes

Current Ratio

1.5

0.8

2.4

0.9

Long Term Debt/T.N.W

(1063.7)

2.3

2.7

0.6

Pre Tax Profit Margin%

(3.1)

(6.5)

(23.8)

(26.1)

Gross Profit%

6

5.5

(6.9)

(10.6)

Creditors Days (D.P.O)

33

35

34

18

Quick Ratio

0.8

0.5

1.5

0.4

W.I.P/Inventory Days

60.2

59.4

55.4

58.3

Return on Investment%

(4.1)

(12.3)

(50.5)

(69.9)

Return on Assets%

(5)

(11.6)

(41.5)

(57.2)

T.N.W/Total Assets%

(0.1)

5.9

18.4

16.4

Return on Capital%

(8.3)

(59.5)

(60.2)

(222.4)

Rtn on Shareholders Funds%

 

(197.2)

(225.6)

(348.9)

Working Capital/Sales%

11.4

(7.1)

24.4

(2.5)

Borrowing Ratio%

(132421.6)

1234.9

314.6

366.7

Equity Gearing%

(0.1)

6.2

22.5

19.6

Stock Turnover

6.5

6.5

6.2

5.7

Days Purchases Outstanding

35.1

36.9

31.4

16

Sales/Fixed Assets

4

5.6

6.6

7.1

Debt Gearing

(106373)

231.3

274.8

56.5

 

 

 

Key Industry Sector Trends

 

 

Year

2012

2011

2010

2009

Sample Size

1030

29739

37423

36398

Pre-Tax Profit Margin

5.4

2.2

1.6

1

Current Ratio

1.7

1.3

1.3

1.3

Borrowing Ratio

81.9

40.2

24.6

17.5

Return on Capital

34.4

35.6

38.5

37.8

Creditors Days

37

94

116

94

 

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Other retail sale of new goods in specialised stores

 

 

 

Financial Summary

 

 

Auditors Qualification

The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 2/04/2011.

 

Turnover

Turnover has increased from GBP 98,760,000 to GBP 107,318,000, a growth of 9 % in the period.

 

Operating Loss

Totalled GBP 2,088,000. In the year prior a Loss of GBP 5,377,000 was achieved.

 

Pre Tax Profit

A loss of GBP 3,280,000 was made in the period compared with a loss of GBP 6,395,000 in the previous period, a reduction of 48 %.

 

Working Capital

The subject has turned a deficient working capital of GBP 6,981,000 to surplus of GBP 12,250,000.

 

Net Worth

Net worth has moved from a positive position of GBP 3,243,000 to a deficiency of GBP 37,000.

 

Fixed Assets

The subject's fixed assets increased during the year by GBP 9,597,000 to GBP 27,321,000 and are now 41 % of total assets compared with 32 % in the previous year.

 

Long Term Liabilities

The company's long term liabilities increased during the period by 428% and are now 107,049 % of net worth compared with 231 % in the previous period.

 

Long Term Liabilities

Long term liabilities are now 60 % of total liabilities compared with 14 % in the previous period.

 

Long Term Liabilities

Long term liabilities are 100 % of capital employed, an increase of 30 % over the previous period.

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.56.01

UK Pound

1

Rs.87.85

Euro

1

Rs.70.54

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.