MIRA
INFORM REPORT
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Report Date : |
18.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
HOLLANDER HYAMS LTD. |
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Registered Office : |
9 Berners Place, London, W1T 3HH |
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Country : |
United Kingdom |
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Financials (as on) : |
28.02.2011 |
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Date of Incorporation : |
12.06.1945 |
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Com. Reg. No.: |
00396137 |
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Legal Form : |
Private Parent Company |
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Line of Business : |
Subject provides raw and semi-processed hides and skins to
various leather industries |
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No. of Employees : |
22 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
United
Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
United Kingdom - ECONOMIC OVERVIEW
The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Sharply declining home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these include nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aims to lower London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 23% by 2015. The Bank of England (BoE) implemented an asset purchase program of up to £325 billion (approximately $525 billion) as of February 2011. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU).
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Source : CIA |
Company name & address
Hollander Hyams Ltd.
9 Berners Place
London, W1T 3HH
United Kingdom
Tel: 02076361562
Fax: 02076361564
Synthesis
Employees: 22
Company Type: Private Parent
Corporate Family: 2
Companies
Quoted Status: Non-quoted Company
Incorporation Date:
12-Jun-1945
Auditor: Landau Morley LLP
Financials in: USD
(Millions)
Fiscal Year End:
28-Feb-2011
Reporting Currency: British
Pound Sterling
Annual Sales: 12.7
1
Net Income: 0.0
Total Assets: 6.9
Business Description
Hollander Hyams Ltd. provides raw and semi-processed hides and skins to various leather industries in the United Kingdom. The company offers its products to shoe, upholstery and garment tanners. Its products range includes sheep, lamb, goat, rabbit and pig skins. In addition, it supplies sheep and lamb skins for nappa, lining and double face production and wetblue splits for gloving, shoes and leather goods. The company’s products are salted, graded and prepared for shipment in its warehousing and storage facilities. (Updated by OneSource Information Services)
Industry
Industry Personal and Household Products
ANZSIC 2006: 3739 - Other Goods
Wholesaling Not Elsewhere Classified
NACE 2002: 5124 - Wholesale
of hides, skins and leather
NAICS 2002: 424590 - Other
Farm Product Raw Material Merchant Wholesalers
UK SIC 2003: 5124 - Wholesale
of hides, skins and leather
UK SIC 2007: 4624 - Wholesale
of hides, skins and leather
US SIC 1987: 5199 - Nondurable
Goods, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
Joj Eva Lind |
Secretary |
|
Daren Paul Feld |
Director |
|
Harry Elias Rabinowicz |
Director |
Financial Summary
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||||||||||||||||||||||
Registered No.(UK): 00396137
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6472256
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6148171
Corporate Overview
Location
9 Berners Place
London, W1T 3HH
London County
United Kingdom
Tel: 02076361562
Fax: 02076361564
Sales GBP(mil): 8.2
Assets GBP(mil): 4.3
Employees: 22
Fiscal Year End: 28-Feb-2011
Industry: Personal and Household Products
Incorporation Date: 12-Jun-1945
Company Type: Private Parent
Quoted Status: Not Quoted
Registered No.(UK): 00396137
Director: Harry Elias Rabinowicz
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
3739 - Other Goods Wholesaling Not Elsewhere Classified
NACE 2002 Codes:
5124 - Wholesale of hides, skins and leather
NAICS 2002 Codes:
424590 - Other Farm Product Raw Material Merchant Wholesalers
US SIC 1987:
5199 - Nondurable Goods, Not Elsewhere Classified
UK SIC 2003:
5124 - Wholesale of hides, skins and leather
UK SIC 2007:
4624 - Wholesale of hides, skins and leather
Business
Description
Hollander Hyams
Ltd. provides raw and semi-processed hides and skins to various leather
industries in the United Kingdom. The company offers its products to shoe,
upholstery and garment tanners. Its products range includes sheep, lamb, goat,
rabbit and pig skins. In addition, it supplies sheep and lamb skins for nappa,
lining and double face production and wetblue splits for gloving, shoes and
leather goods. The company’s products are salted, graded and prepared for
shipment in its warehousing and storage facilities. (Updated by OneSource Information
Services)
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Corporate Family |
Corporate
Structure News: |
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Hollander Hyams Ltd. |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
Hollander Hyams Ltd. |
Parent |
London |
United Kingdom |
Personal and Household Products |
12.7 |
22 |
|
|
Mcvittie, Anderson & Co. Ltd. |
Subsidiary |
London |
United Kingdom |
Miscellaneous Capital Goods |
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Executive
report
|
Board
of Directors |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives |
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Secretary |
Company Secretary |
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Directors and Shareholders Report
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Main Office Address: |
Tel: 02076361562 |
Annual Return Date: 28
Nov 2011 |
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Individual Directors |
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|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
19 Jun 1948 |
43 Springfield Road, |
19 Mar 1992 |
NA |
Current:4 |
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|
Current |
27 Jun 1962 |
53 Fontayne Avenue, |
28 Nov 1991 |
NA |
Current:3 |
|
|
|
Previous |
28 Feb 1923 |
58 Cheyng Court, Royal Hospital Road, |
28 Nov 1991 |
NA |
Current:0 |
|
|
|
Previous |
07 Oct 1944 |
Dennenlaan 2A, |
03 Jul 2000 |
14 Jun 2006 |
Current:0 |
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Corporate Directors |
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There are no corporate directors for this company. |
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Individual Secretaries |
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|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
29 May 1950 |
5G Portman Mansions, Chiltern Street, |
01 Feb 1996 |
NA |
Current:6 |
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Previous |
27 Jun 1962 |
53 Fontayne Avenue, |
28 Nov 1991 |
31 Jan 1996 |
Current:3 |
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Corporate Secretaries |
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There are no corporate secretaries for this company. |
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Individual Shareholders |
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Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
H E Raboniwicz |
26247 Ordinary GBP 1.00 |
Ordinary |
26,247 |
1.00 |
26,247.00 |
74.99 |
|
J E Lind |
1 Ordinary GBP 1.00 |
Ordinary |
1 |
1.00 |
1.00 |
<0.01 |
|
Joseph D Rabinowicz |
4375 Ordinary GBP 1.00 |
Ordinary |
4,375 |
1.00 |
4,375.00 |
12.50 |
|
L E Kramer |
2 Ordinary GBP 1.00 |
Ordinary |
2 |
1.00 |
2.00 |
<0.01 |
|
Michael S Rabinowicz |
4375 Ordinary GBP 1.00 |
Ordinary |
4,375 |
1.00 |
4,375.00 |
12.50 |
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Corporate Shareholders |
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There are no corporate shareholders for this company. |
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Annual Profit & Loss
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
28-Feb-2011 |
28-Feb-2010 |
28-Feb-2009 |
29-Feb-2008 |
28-Feb-2007 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.647226 |
0.631243 |
0.575434 |
0.499536 |
0.533995 |
|
Consolidated |
No |
No |
No |
No |
No |
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Total Turnover |
12.7 |
11.6 |
- |
- |
- |
|
Cost of Sales |
11.5 |
- |
- |
- |
- |
|
Total Expenses |
- |
11.5 |
- |
- |
- |
|
Gross Profit |
1.2 |
- |
1.5 |
1.9 |
1.7 |
|
Depreciation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Expenses |
1.1 |
- |
1.3 |
1.6 |
1.4 |
|
Operating Profit |
- |
- |
- |
0.3 |
0.3 |
|
Other Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Paid |
0.1 |
0.1 |
0.1 |
0.2 |
0.2 |
|
Exceptional Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit Before Taxes |
0.0 |
0.0 |
0.1 |
0.1 |
0.2 |
|
Tax Payable / Credit |
0.0 |
0.0 |
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 |
0.0 |
0.0 |
0.1 |
0.1 |
0.2 |
|
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 |
|
Number of Employees |
22 |
18 |
24 |
25 |
27 |
|
Wages |
0.7 |
0.8 |
1.0 |
1.2 |
1.0 |
|
Social Security Costs |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Pensions |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Pension Costs |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees Remuneration |
0.8 |
0.9 |
1.1 |
1.3 |
1.2 |
|
Directors Emoluments |
- |
0.2 |
0.3 |
0.3 |
0.2 |
|
Other Costs |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Directors Remuneration |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
28-Feb-2011 |
28-Feb-2010 |
28-Feb-2009 |
29-Feb-2008 |
28-Feb-2007 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.614817 |
0.656858 |
0.701582 |
0.502715 |
0.510269 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
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|
|
Land & Buildings |
1.2 |
0.8 |
0.8 |
1.1 |
1.0 |
|
Fixtures & Fittings |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Plant & Vehicles |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Total Tangible Fixed Assets |
1.2 |
0.8 |
0.8 |
1.1 |
1.2 |
|
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 |
1.2 |
0.8 |
0.8 |
1.2 |
1.2 |
|
Stocks |
0.9 |
0.5 |
0.7 |
1.0 |
0.8 |
|
Work in Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Stocks Work In Progress |
0.9 |
0.5 |
0.7 |
1.0 |
0.8 |
|
Trade Debtors |
4.4 |
3.7 |
3.8 |
3.7 |
6.4 |
|
Inter-Company Debtors |
0.3 |
0.4 |
0.1 |
0.1 |
0.1 |
|
Other Debtors |
0.1 |
0.2 |
0.1 |
0.2 |
0.3 |
|
Total Debtors |
4.8 |
4.3 |
4.0 |
4.0 |
6.8 |
|
Cash and Equivalents |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
5.7 |
4.8 |
4.8 |
5.0 |
7.6 |
|
Total Assets |
6.9 |
5.7 |
5.6 |
6.2 |
8.8 |
|
Trade Creditors |
1.1 |
0.9 |
0.9 |
0.8 |
1.8 |
|
Bank Overdraft |
1.9 |
1.9 |
2.0 |
1.7 |
3.0 |
|
Inter-Company Creditors |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Current Liability) |
0.1 |
0.1 |
0.1 |
0.2 |
0.4 |
|
Social Security/VAT |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Corporation Tax |
0.0 |
0.0 |
- |
- |
- |
|
Other Current Liabilities |
0.1 |
0.1 |
0.1 |
0.1 |
0.4 |
|
Total Current Liabilities |
3.1 |
3.0 |
3.2 |
2.8 |
5.6 |
|
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 |
0.6 |
0.0 |
0.0 |
0.0 |
0.0 |
|
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 |
0.6 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Issued Capital |
0.1 |
0.1 |
0.0 |
0.1 |
0.1 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Reserve |
0.8 |
0.4 |
0.4 |
0.6 |
0.5 |
|
Retained Earnings |
1.8 |
1.6 |
1.5 |
2.0 |
1.9 |
|
Other Reserves |
0.6 |
0.6 |
0.5 |
0.7 |
0.7 |
|
Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Shareholders Funds |
3.2 |
2.6 |
2.5 |
3.4 |
3.2 |
|
Net Worth |
3.2 |
2.6 |
2.5 |
3.4 |
3.2 |
Annual Cash Flows
Financials in: USD (mil)
|
|
28-Feb-2011 |
28-Feb-2010 |
28-Feb-2009 |
29-Feb-2008 |
28-Feb-2007 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period
Average) |
0.647226 |
0.631243 |
0.575434 |
0.499536 |
0.533995 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Net Cash Flow From Operating Activities |
-0.3 |
0.4 |
-0.9 |
1.6 |
-0.8 |
|
Net Cash Flow from ROI and Servicing of Finance |
-0.1 |
-0.1 |
-0.1 |
-0.2 |
-0.2 |
|
Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Capital Expenditures |
0.0 |
0.0 |
0.0 |
0.0 |
-0.1 |
|
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 |
0.8 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Increase in Cash |
0.3 |
0.3 |
-1.0 |
1.3 |
-1.1 |
Annual Ratios
Financials in: USD (mil)
|
|
28-Feb-2011 |
28-Feb-2010 |
28-Feb-2009 |
29-Feb-2008 |
28-Feb-2007 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.614817 |
0.656858 |
0.701582 |
0.502715 |
0.510269 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
1.82 |
1.59 |
1.52 |
1.77 |
1.37 |
|
Liquidity Ratio |
1.53 |
1.42 |
1.28 |
1.42 |
1.22 |
|
Stock Turnover |
14.51 |
21.64 |
- |
- |
- |
|
Credit Period (Days) |
119.61 |
122.43 |
- |
- |
- |
|
Working Capital by Sales |
19.29% |
16.17% |
- |
- |
- |
|
Trade Credit by Debtors |
0.25 |
0.25 |
0.23 |
0.22 |
0.28 |
|
Return on Capital |
1.18% |
0.78% |
2.27% |
2.27% |
5.10% |
|
Return on Assets |
0.65% |
0.36% |
1.00% |
1.23% |
1.87% |
|
Profit Margin |
0.34% |
0.19% |
- |
- |
- |
|
Return on Shareholders Funds |
1.40% |
0.78% |
2.27% |
2.27% |
5.10% |
|
Borrowing Ratio |
76.92% |
71.18% |
83.60% |
51.18% |
92.40% |
|
Equity Gearing |
46.13% |
46.49% |
43.77% |
54.20% |
36.60% |
|
Debt Gearing |
18.78% |
- |
- |
- |
- |
|
Interest Coverage |
0.51 |
0.27 |
0.61 |
0.39 |
1.02 |
|
Sales by Tangible Assets |
10.96 |
13.43 |
- |
- |
- |
|
Average Remuneration per Employee |
0.0 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Profit per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sales per Employee |
0.6 |
0.6 |
- |
- |
- |
|
Capital Employed per Employee |
0.2 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Tangible Assets per Employee |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Assets per Employee |
0.3 |
0.3 |
0.2 |
0.2 |
0.3 |
|
Employee Remuneration by Sales |
6.58% |
7.94% |
- |
- |
- |
|
Creditor Days (Cost of Sales Based) |
32.48 |
30.17 |
- |
- |
- |
|
Creditor Days (Sales Based) |
29.45 |
30.17 |
- |
- |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.75 |
|
UK Pound |
1 |
Rs.85.08 |
|
Euro |
1 |
Rs.69.04 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.