MIRA
INFORM REPORT
|
Report Date : |
20.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
CHUMS LTD. |
|
|
|
|
Registered Office : |
Unity Grove Knowsley Business Park Prescot, L34 9AR |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
14.05.1981 |
|
|
|
|
Com. Reg. No.: |
01561474 |
|
|
|
|
Legal Form : |
Private Independent |
|
|
|
|
Line of Business : |
Manufactures traditional clothing and shoes for men and women. |
|
|
|
|
No. of Employees : |
162 |
RATING & COMMENTS
|
MIRAs 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 September 30, 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 name and address
Chums Ltd.
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
Business
Description
|
Chums Ltd. is a privately-owned company that manufactures traditional
clothing and shoes for men and women. It also offers a wide range of personal
hygiene, mobility and lifestyle products for women. The company provides a
full-range of shirts, knitwear, jackets, coats, suits, underwear, nightwear
and footwear. Its household range of products include cotton cellular
blanket, handkerchiefs, table covers, pedestal mats, curtains, chair and sofa
protectors. In addition, the company also offers electronic products,
including can openers, ovens, deep fat fryer, touch light clock radio and
potato peeler. |
Industry
|
Industry |
Retail (Catalog and Mail Order) |
|
ANZSIC 2006: |
4310 - Non-Store Retailing |
|
NACE 2002: |
5261 - Retail sale via mail order house |
|
NAICS 2002: |
454113 - Mail-Order Houses |
|
UK SIC 2003: |
5261 - Retail sale via mail order house |
|
US SIC 1987: |
5961 - Catalog and Mail-order Houses |
|
|
|
Key Executives
|
News
|
Financial
Summary
|
||||||||||||||||||||||
1 - Profit &
Loss Item Exchange Rate: USD 1 = GBP 0.6475734
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6387123
Corporate Overview
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
Executives Report
|
Directors and Shareholders Report
Annual Return Date: 31 Jan 2012
|
Individual Directors |
|||||||
|
|
|||||||
|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
27 Nov 1986 |
Chums Limited Unity Grove, Knowsley Business Park, |
01 Jan 2011 |
NA |
Current:1 |
|
|
|
Current |
30 Jan 1979 |
Chums Limited Unity Grove, Knowsley Business Park, |
01 Jan 2011 |
NA |
Current:1 |
|
|
|
Current |
19 Sep 1980 |
Chums Limited Unity Grove, Knowsley Business Park, |
01 Jan 2011 |
NA |
Current:1 |
|
|
|
Current |
11 May 1951 |
Littlemead Lyndhurst Road, Mossley Hill, |
31 Jan 1991 |
NA |
Current:6 |
|
|
|
Current |
09 Jun 1954 |
Littlemead Lyndhurst Road, Mossley Hill, |
31 Jan 1991 |
NA |
Current:1 |
|
|
|
Previous |
31 Jul 1923 |
Sunny Lodge, Courtney Road, |
31 Jan 1991 |
17 Sep 2006 |
Current: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 |
|
|
Current |
11 May 1951 |
Littlemead Lyndhurst Road, Mossley Hill, |
31 Jan 1991 |
NA |
Current:6 |
|
|
|
|
|
||||||
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
Corporate Secretaries |
|
|
|
There are no corporate secretaries for this company. |
|
|
|
Individual Shareholders |
||||||
|
|
||||||
|
Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
Adam Rubin |
18 Ordinary GBP 1.00 |
Ordinary |
18 |
1.00 |
18.00 |
15.00 |
|
Beryl Greenburg |
16 Ordinary GBP 1.00 |
Ordinary |
16 |
1.00 |
16.00 |
13.33 |
|
Graham Anthony Rubin |
22 Ordinary GBP 1.00 |
Ordinary |
22 |
1.00 |
22.00 |
18.33 |
|
Graham Anthony Rubin |
16 Ordinary GBP 1.00 |
Ordinary |
16 |
1.00 |
16.00 |
13.33 |
|
Joshua Max Rubin |
10 Ordinary GBP 1.00 |
Ordinary |
10 |
1.00 |
10.00 |
8.33 |
|
Michelle Ruth Rubin |
16 Ordinary GBP 1.00 |
Ordinary |
16 |
1.00 |
16.00 |
13.33 |
|
Sarah Ann Nyman |
18 Ordinary GBP 1.00 |
Ordinary |
18 |
1.00 |
18.00 |
15.00 |
|
Settlement |
4 Ordinary GBP 1.00 |
Ordinary |
4 |
1.00 |
4.00 |
3.33 |
|
|
|
|
|
|
|
|
|
Corporate Shareholders |
|
|
|
There are no corporate shareholders for this company. |
|
|
Annual Profit & Loss
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
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 |
|
|
|
|
|
|
|
|
Turnover (UK) |
43.1 |
43.2 |
45.2 |
- |
- |
|
Turnover (Exports) |
0.0 |
0.2 |
0.0 |
- |
- |
|
Total Turnover |
43.1 |
43.3 |
45.2 |
44.5 |
41.2 |
|
Cost of Sales |
16.5 |
15.8 |
15.0 |
15.1 |
14.0 |
|
Gross Profit |
26.6 |
27.6 |
30.1 |
29.4 |
27.2 |
|
Depreciation |
0.5 |
0.4 |
0.5 |
0.6 |
0.5 |
|
Other Expenses |
24.1 |
27.5 |
30.5 |
30.7 |
27.1 |
|
Operating Profit |
- |
- |
- |
- |
0.1 |
|
Other Income |
0.9 |
0.6 |
1.4 |
2.2 |
0.6 |
|
Interest Paid |
0.6 |
0.5 |
0.8 |
0.8 |
0.7 |
|
Exceptional Income |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Profit Before Taxes |
3.0 |
0.2 |
0.2 |
0.1 |
0.1 |
|
Tax Payable / Credit |
0.8 |
0.1 |
0.0 |
0.0 |
0.0 |
|
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 |
2.2 |
0.1 |
0.2 |
0.0 |
0.1 |
|
Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Non Audit Fees |
0.0 |
0.0 |
0.0 |
0.1 |
- |
|
Number of Employees |
162 |
159 |
140 |
119 |
100 |
|
Wages |
5.5 |
7.7 |
9.3 |
9.5 |
7.2 |
|
Social Security Costs |
0.5 |
0.8 |
1.0 |
1.1 |
0.8 |
|
Pensions |
- |
- |
- |
0.0 |
- |
|
Other Pension Costs |
0.0 |
0.0 |
0.0 |
0.0 |
1.8 |
|
Employees Remuneration |
6.0 |
8.6 |
10.4 |
10.6 |
9.9 |
|
Other Costs |
- |
- |
- |
5.6 |
- |
|
Directors Remuneration |
1.1 |
3.8 |
5.0 |
5.6 |
6.1 |
|
Highest Paid Director |
1.0 |
3.7 |
5.0 |
5.5 |
6.0 |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
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 |
|
|
|
|
|
|
|
|
Land & Buildings |
0.0 |
0.3 |
0.0 |
0.0 |
0.0 |
|
Fixtures & Fittings |
1.5 |
0.8 |
0.9 |
1.1 |
1.1 |
|
Plant & Vehicles |
0.6 |
0.6 |
0.6 |
0.9 |
0.8 |
|
Total Tangible Fixed Assets |
2.1 |
1.8 |
1.5 |
2.0 |
2.0 |
|
Intangible Assets |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Fixed Assets |
2.2 |
1.8 |
1.5 |
2.0 |
2.0 |
|
Stocks |
5.5 |
5.3 |
3.9 |
5.3 |
5.9 |
|
Work in Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Stocks Work In Progress |
5.5 |
5.3 |
3.9 |
5.3 |
5.9 |
|
Director Loans |
0.1 |
- |
- |
0.0 |
0.5 |
|
Other Debtors |
1.3 |
0.7 |
0.6 |
0.4 |
0.7 |
|
Total Debtors |
1.3 |
0.7 |
0.6 |
0.4 |
1.2 |
|
Cash and Equivalents |
5.9 |
7.2 |
6.7 |
9.6 |
6.8 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
12.7 |
13.2 |
11.2 |
15.2 |
13.9 |
|
Total Assets |
14.9 |
15.0 |
12.7 |
17.3 |
15.8 |
|
Trade Creditors |
1.7 |
1.9 |
1.5 |
2.3 |
2.1 |
|
Bank Overdraft |
1.3 |
1.2 |
1.1 |
1.7 |
2.3 |
|
Inter-Company Creditors |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Loans (Current Liability) |
1.7 |
1.5 |
0.0 |
0.0 |
0.3 |
|
Hire Purchase (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Finance Lease (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Finance Lease/Hire Purchase (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Short Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Current Liability) |
1.7 |
4.4 |
4.6 |
6.1 |
3.9 |
|
Social Security/VAT |
0.5 |
1.1 |
1.3 |
1.6 |
1.8 |
|
Corporation Tax |
0.9 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividends (Current Liability) |
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 |
7.7 |
10.1 |
8.5 |
11.7 |
10.4 |
|
Group Loans (Long Term Liability) |
0.0 |
0.0 |
- |
5.1 |
0.0 |
|
Director Loans (Long Term Liability) |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Leasing (Long Term Liability) |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Other Long Term Loans |
4.3 |
4.3 |
3.8 |
0.0 |
5.0 |
|
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 |
4.3 |
4.3 |
3.8 |
5.1 |
5.0 |
|
Deferred Taxation |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
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 |
2.8 |
0.6 |
0.4 |
0.4 |
0.3 |
|
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 |
2.8 |
0.6 |
0.4 |
0.4 |
0.3 |
|
Net Worth |
2.7 |
0.6 |
0.4 |
0.4 |
0.3 |
|
|
|
Annual Cash Flows |
|
Financials in:
USD (mil) |
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
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 |
|
|
|
|
|
|
|
|
Net Cash Flow From Operating Activities |
0.1 |
0.5 |
0.6 |
4.3 |
2.6 |
|
Net Cash Flow from ROI and Servicing of Finance |
-0.2 |
-0.1 |
0.0 |
0.1 |
-0.1 |
|
Taxation |
0.0 |
-0.1 |
0.0 |
0.0 |
0.2 |
|
Capital Expenditures |
-1.1 |
-0.5 |
-0.6 |
-0.7 |
-0.8 |
|
Acquisitions and Disposals |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Paid Up Equity |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Management of Liquid Resources |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Cash Flow From Financing |
0.0 |
-0.1 |
-0.2 |
-0.3 |
-0.3 |
|
Increase in Cash |
-1.2 |
-0.3 |
-0.1 |
3.3 |
1.6 |
|
|
|
Annual Ratios |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
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 |
|
|
|
|
|
|
|
|
Current Ratio |
1.64 |
1.31 |
1.32 |
1.30 |
1.33 |
|
Liquidity Ratio |
0.93 |
0.78 |
0.86 |
0.85 |
0.77 |
|
Stock Turnover |
7.93 |
8.42 |
8.99 |
8.42 |
7.48 |
|
Working Capital by Sales |
11.35% |
7.01% |
7.69% |
8.02% |
7.85% |
|
Return on Capital |
42.45% |
4.43% |
3.78% |
1.63% |
1.36% |
|
Return on Assets |
20.45% |
1.46% |
1.26% |
0.53% |
0.46% |
|
Profit Margin |
7.00% |
0.49% |
0.45% |
0.21% |
0.17% |
|
Return on Shareholders Funds |
109.41% |
36.23% |
38.56% |
23.48% |
21.76% |
|
Borrowing Ratio |
275.75% |
1,166.51% |
1,228.80% |
1,922.75% |
2,248.98% |
|
Equity Gearing |
18.69% |
4.03% |
3.27% |
2.25% |
2.13% |
|
Debt Gearing |
162.11% |
716.32% |
945.99% |
1,437.94% |
1,480.22% |
|
Interest Coverage |
5.42 |
0.39 |
0.26 |
0.12 |
0.10 |
|
Sales by Tangible Assets |
20.72 |
24.93 |
23.48 |
21.97 |
22.39 |
|
Average Remuneration per Employee |
0.0 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Profit per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sales per Employee |
0.3 |
0.3 |
0.3 |
0.4 |
0.4 |
|
Capital Employed per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Tangible Assets per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Assets per Employee |
0.1 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Employee Remuneration by Sales |
14.01% |
19.80% |
22.98% |
23.85% |
23.94% |
|
Creditor Days (Cost of Sales Based) |
36.25 |
41.64 |
45.20 |
55.54 |
52.25 |
|
Creditor Days (Sales Based) |
13.90 |
15.13 |
15.02 |
18.84 |
17.73 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.12 |
|
|
1 |
Rs.79.37 |
|
Euro |
1 |
Rs.66.00 |
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 SCs 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.