MIRA INFORM REPORT

Report Date :

05.03.2012

IDENTIFICATION DETAILS

Name :	LLOYD SHOE CO LIMITED
Formerly Known As :	DRAWZOOM LIMITED
Registered Office :	Cosmopolitan House, 2 Phipp Street, London, Ec2a 4bp
Country :	United Kingdom
Financials (as on) :	31.08.2010
Date of Incorporation :	03.02.1986
Com. Reg. No.:	01984976
Legal Form :	Private Limited Company
Line of Business :	Retailers of footwear
No. of Employees :	1,172

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

Maximum Credit Limit :	GBP 115,000
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 – September 30^th, 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

Company Identification Details

Subject Reported on	LLOYD SHOE CO LIMITED
Registration Number	01984976
VAT Number	GB974826178
Address	COSMOPOLITAN HOUSE, 2 PHIPP STREET, LONDON, EC2A 4BP.
Telephone	01689 824 433
Facsimile	01689 888 789
Web Address	www.lloyd-shoes.com

Creditline Recommendations

Monthly Credit Guide

GBP 115,000

Official Company Data

Legal Form	Private Limited
Registration Number	01984976
VAT Number	GB974826178
Subject Status	Trading
Date of Incorporation	03/02/1986
Registered Office	COSMOPOLITAN HOUSE, 2 PHIPP STREET, LONDON, EC2A 4BP.
History	29/03/2010 : The Registered Office address changed from BERWICK HOUSE, 8-10 KNOLL RISE, ORPINGTON, KE.
	15/07/1997 : The Registered Office address changed from UNIT 7,GLADE BUSINESS CENTRE, EASTERN AVENUE,.
	20/03/1993 : The Registered Office address changed from UNIT 9, INDESCON COURT, MILLHARBOUR, LONDON,.
	1/08/1986 : Change of name from DRAWZOOM LIMITED.
Date of Last Annual Return to Registry	07/03/2011
Accounts	The last filed accounts at Companies House are those to 31/08/2010
Accounting Reference Date	31/08

Operations

Activities	Retailers of footwear.
Nace Code	5243
Premises	Owned,Offices,Shop
Staff Employed	1,172
Import Countries	EUROPE
Export Countries	No Import Activity
Bankers	BARCLAYS BANK PLC
Address	54 LOMBARD STREET, LONDON.
Sort Code	200000
Auditors	Baker Tilly UK Audit LLP

Previous Searches

Search History Summary

Last 3 Months	Last 6 Months	Last 12 Months
2	4	9

Search History Details

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

Date	Description
31/01/2012	Miscellaneous
12/12/2011	Miscellaneous
17/11/2011	Miscellaneous
17/11/2011	Miscellaneous
27/04/2011	Miscellaneous
04/04/2011	Miscellaneous
24/03/2011	Miscellaneous
17/03/2011	Miscellaneous
17/03/2011	Miscellaneous
11/01/2011	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	5
Number Outstanding	1
Number Partially Satisfied	0
Number Satisfied	4
Date of Latest Mortgage Created	20/11/1998
Date of Latest Satisfaction	07/02/2008

Details of most recent Mortgages, Charges and Satisfactions

Date Fully Satisfied	Date Registered	Date Created	Charge Description	Form Type	Lender
07/02/2008	01/12/1998	20/11/1998	Composite Guarantee And Debenture	395	Bankboston N.A.
20/09/2004	12/05/1995	23/04/1995	Fixed And Floating Charge	395	StenhamPlc
27/04/1995	05/04/1990	02/04/1990	Fixed And Floating Charge	N/A	Stenham Plc.
	20/03/1990	13/03/1990	Debenture	N/A	Barclays Bank Plc
10/04/1990	26/08/1986	15/08/1986	Debenture	N/A	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

22/12/2009	Companies House Gazette	Notification of any change among the company's directors
09/12/2008	Companies House Gazette	Change among directors of a company
03/09/2008	Companies House Gazette	Change among directors of a company
13/11/2007	Companies House Gazette	Change among directors of a company
02/09/1997	Companies House Gazette	Change among directors of a company
22/07/1997	Companies House Gazette	Change among directors of a company
17/06/1991	Companies House Gazette	Change among directors of a company
06/04/1990	Companies House Gazette	Change among directors of a company
23/03/1990	Companies House Gazette	Change among directors of a company
05/05/1989	Companies House Gazette	Change among directors of a company
02/07/1988	Companies House Gazette	Change in the situation of a company's registered office
02/07/1988	Companies House Gazette	Change among directors of a company
09/06/1988	Companies House Gazette	Documents delivered by a company under section 241 (annual accounts)
09/06/1988	Companies House Gazette	Change among directors of a company
08/09/1987	Companies House Gazette	Change among directors of a company
22/08/1987	Companies House Gazette	Resolutions or agreements to which section 380 applies (relating to shares rights or names)
08/07/1986	Companies House Gazette	Change in the situation of a company's registered office

Company Secretary

Secretary	MR DAVID PHILIP HOLTON
Service Address	OAKWOOD WICKHAMS WAY, HARTLEY, LONGFIELD, KENT, DA3 8DH.
Country of Origin	UNITED KINGDOM
Date of Birth	13/03/1959
Appointment Date	01/12/2008
Other Directorships	HUDSON SHOE AGENCIES LIMITED, LLOYD SHOE COMPANY (HOLDINGS) LIMITED, HUDSON SHOE COMPANY LIMITED, LLOYD SHOE CO (USA) LIMITED, ALGERNON CONSULTING LIMITED

Directors

Director	MR MARC SIMON VERONA
Service Address	HILL FARM, DANEBRIDGE ROAD, MUCH HADHAM, HERTFORDSHIRE, SG10 6HZ.
Country of Origin	UNITED KINGDOM
Date of Birth	26/06/1956
Appointment Date	07/03/1991
Other Directorships	HUDSON SHOE AGENCIES LIMITED, LLOYD SHOE COMPANY (HOLDINGS) LIMITED, HUDSON SHOE COMPANY LIMITED, LLOYD SHOE CO (USA) LIMITED
Director	MR BRIAN CHRISTOPHER HOGAN
Service Address	MUIRFIELD, WILLOW GROVE, CHISLEHURST, KENT, BR7 5BS.
Country of Origin	UNITED KINGDOM
Date of Birth	16/12/1957
Appointment Date	07/03/1991
Other Directorships	LLOYD SHOE COMPANY (HOLDINGS) LIMITED, HUDSON SHOE COMPANY LIMITED, LLOYD SHOE CO (USA) LIMITED, ALGERNON CONSULTING LIMITED
Director	MR ADAM SENIOR
Service Address	62 THE SHEARERS, ST MICHAELS ROAD, BISHOPS STORTFORD, HERTFORDSHIRE, CM23 4AZ.
Country of Origin	UNITED KINGDOM
Date of Birth	02/02/1965
Appointment Date	01/08/1997
Other Directorships	LLOYD SHOE COMPANY (HOLDINGS) LIMITED, HUDSON SHOE COMPANY LIMITED, LLOYD SHOE CO (USA) LIMITED
Director	MRS REBECCA BEATRICE MUNDAY
Service Address	20 STONELEIGH ROAD, BICKLEY, KENT, BR1 2FW.
Country of Origin	UNITED KINGDOM
Date of Birth	06/12/1974
Appointment Date	25/10/2007
Other Directorships	LLOYD SHOE COMPANY (HOLDINGS) LIMITED, LLOYD SHOE CO (USA) LIMITED
Financial Director	MR DAVID PHILIP HOLTON
Service Address	OAKWOOD WICKHAMS WAY, HARTLEY, LONGFIELD, KENT, DA3 8DH.
Country of Origin	UNITED KINGDOM
Date of Birth	13/03/1959
Appointment Date	01/09/2008
Other Directorships	HUDSON SHOE AGENCIES LIMITED, LLOYD SHOE COMPANY (HOLDINGS) LIMITED, HUDSON SHOE COMPANY LIMITED, LLOYD SHOE CO (USA) LIMITED, ALGERNON CONSULTING LIMITED

Share Capital

Shares	Ordinary GBP 0.01
Issued Number	20,408
Principal Shareholder	20,408 Lloyd Shoe Company (Holdings) Ltd

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

Holding Company	LLOYD SHOE COMPANY (HOLDINGS) LIMITED
Ultimate Parent	LLOYD SHOE COMPANY (HOLDINGS) LIMITED

Financial Data– Statutory Accounts

Profit and Loss

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/08/2010	31/08/2009	31/08/2008	31/08/2007
Currency	GBP	GBP	GBP	GBP
SALES	65070	61247	57056	59950
UK sales	63305	59635	55115	57909
Export	1765	1612	1941	2041
Cost of goods sold	55732	52552	50628	54245
GROSS PROFIT	9338	8695	6428	5705
Wages and Salaries	10005	9049	9343	10309
Directors Emoluments	1251	1089	602	495
Auditors Fees	29	34	34	9
Non-Audit Fees		24	18	25
Trading Profit	3865	3827	2381	1409
Depreciation	639	497	435	705
OPERATING PROFIT	3226	3330	1946	704
Non Trading Income	15	4		14
Interest Payable	9	18	155	237
PRE TAX PROFIT	3232	3316	1791	481
Taxation	1019	934	588	(200)
PROFIT AFTER TAX	2213	2382	1203	681
Dividends Payable	2000	2000	1000
RETAINED PROFITS	213	382	203	681

Balance Sheet

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/08/2010	31/08/2009	31/08/2008	31/08/2007
Currency	GBP	GBP	GBP	GBP
TOTAL FIXED ASSETS	1607	249	290	389
Tangible Assets	1607	249	290	389
Fixed Assets	1414	249	290	389
Intermediate assets	193
TOTAL CURRENT ASSETS	12860	12219	10033	10390
Trade debtors	2081	2114	2051	1966
Stocks	6288	6164	6921	7279
Other Current Assets	4491	3941	1061	1145
Misc Current Assets	372	613	344	602
Due From Group	36	41
Cash	4083	3287	717	543
TOTAL ASSETS	14467	12468	10323	10779
TOTAL CURRENT LIABILITIES	11141	9613	8003	8619
Trade creditors	6187	4872	4677	3966
Short Term Loans	2968	1981	1370	3071
Bank Overdraft			805	2471
Bank Loans	160
Other Finance			33	274
Due To Group	2808	1981	532	326
Other Liabilities	1986	2760	1956	1582
WORKING CAPITAL	1719	2606	2030	1771
TOTAL LONG TERM LIABS	412	153		44
Long Term Loans	259			44
Bank Loans	259
Other Finance				44
Other Liabilities	153	153
NET ASSETS/(LIABILITIES)	2914	2702	2320	2116
SHARE CAPITAL + RESERVES	2914	2702	2320	2116
Share Cap + Sundry Res	23	23	23	23
Sundry Reserves	23	23	23	23
Profit and Loss account	2891	2679	2297	2093
SHAREHOLDERS FUNDS	2914	2702	2320	2116
CAPITAL EMPLOYED	3326	2855	2320	2160

Financial Comparison

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/08/2010	31/08/2009	31/08/2008	31/08/2007
Currency	GBP	GBP	GBP	GBP
Net Cashflow from Oper.	5673	6721	3599	615
Increase in Cash	797	3375	1840	52
Directors Remuneration	1251	1089	602	495
Auditors Remuneration	29	34	34	9
Liquid Assets	6164	5401	2768	2509
Net Working Capital	1719	2606	2030	1771
Long Term Debt(>12 Months)	259			44
Other Deferred Liabs	153	153
Tangible Net Worth(T.N.W)	2914	2702	2320	2116
Equity	2914	2702	2320	2116
Number of Years Trading	24	23	22	21
Number of Employees	1172	1133	1227	1437
Profit per Employee	2757.7	2926.7	1459.7	334.7
Sales per Employee	55520.5	54057.4	46500.4	41718.9

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	31/08/2010	31/08/2009	31/08/2008	31/08/2007
Current Ratio	1.2	1.3	1.3	1.2
Long Term Debt/T.N.W	0.1
Pre Tax Profit Margin%	5	5.4	3.1	0.8
Gross Profit%	14.4	14.2	11.3	9.5
Debtors Days (D.S.O)	12	13	13	12
Creditors Days (D.P.O)	35	29	30	24
Quick Ratio	0.6	0.6	0.4	0.4
W.I.P/Inventory Days	41.2	42.8	49.9	49
Return on Investment%	51.5	68.9	52.7	13.7
Return on Assets%	22.3	26.6	17.3	4.5
T.N.W/Total Assets%	20.1	21.7	22.5	19.6
Return on Capital%	97.2	116.1	77.2	22.3
Rtn on Shareholders Funds%	110.9	122.7	77.2	22.7
Working Capital/Sales%	2.6	4.3	3.6	3
Borrowing Ratio%	110.7	73.3	59.1	147.2
Equity Gearing%	25.2	27.7	29	24.4
Stock Turnover	10.3	9.9	8.2	8.2
Days Purchases Outstanding	40.5	33.8	33.7	26.7
Sales/Fixed Assets	46	246	196.7	154.1
Debt Gearing	8.9			2.1

Key Industry Sector Trends

Year	2011	2010	2009	2008
Sample Size	20440	37543	36529	36103
Pre-Tax Profit Margin	3	1.6	0.9	1.1
Current Ratio	1.3	1.3	1.3	1.3
Borrowing Ratio	45.7	21.9	12.7	7.6
Return on Capital	36.3	36.9	37	41.3
Creditors Days	105	125	97	68

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 31/08/2010.

Turnover

Turnover has increased from GBP 61,247,000 to GBP 65,070,000, a growth of 6 % in the period.

Operating Profit

Totalled GBP 3,226,000. In the year prior a Profit of GBP 3,330,000 was achieved.

Pre Tax Profit

The subject's profit decreased by 2 % over the previous year.

Working Capital

The company's working capital, while remaining positive, decreased by 34 % in the period.

Net Worth

Net worth has increased by 8 % and now stands at GBP 2,914,000.

Fixed Assets

The subject's fixed assets increased during the year by GBP 1,358,000 to GBP 1,607,000 and are now 11 % of total assets compared with 1 % in the previous year.

Long Term Liabilities

The company's long term liabilities increased during the period by 169% and are now 14 % of net worth compared with 6 % in the previous period.

Long Term Liabilities

Long term liabilities are now 3 % of total liabilities compared with 1 % in the previous period.

Long Term Liabilities

Long term liabilities are 12 % of capital employed, an increase of 7 % over the previous period.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.35
UK Pound	1	Rs.78.68
Euro	1	Rs.65.63

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.