MIRA INFORM REPORT

 

 

Report Date :

20.09.2012

 

IDENTIFICATION DETAILS

 

Name :

HORNBY STREET LTD.

 

 

 

 

Registered Office :

Juice Corporations 2-16 Bury New Road Manchester, M8 8FR

 

 

 

 

Country :

United Kingdom

 

 

 

 

Financials (as on) :

30.06.2011

 

 

 

 

Date of Incorporation :

11.10.1999

 

 

 

 

Com. Reg. No.:

03856420

 

 

 

 

Legal Form :

Private Independent

 

 

 

 

Line of Business :

Wholesale of clothing and footwear

 

 

 

 

No. of Employees :

45

 

 

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 but correct

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

 

 

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).

Source : CIA

Company name and address

 

Top of Form

Bottom of Form

Hornby Street Ltd.

                                                                                                                                                  

 

Juice Corporations

2-16 Bury New Road

 

Manchester, M8 8FR

United Kingdom

 

 

Tel:

01618317550

Fax:

01618351446

 

www.juicecorporation.co.uk

 

Employees:

45

Company Type:

Private Independent

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

11-Oct-1999

Auditor:

Grant Thornton UK LLP

Financials in:

USD (mil)

 

 

Fiscal Year End:

30-Jun-2011

Reporting Currency:

British Pound Sterling

Annual Sales:

NA

Net Income:

0.4

Total Assets:

21.1

                                       

Business Description        

 

Importers, wholesale and distribution of fashion garments.

     

Industry                                                                

 

Industry

Apparel and Accessories

ANZSIC 2006:

371 - Textile, Clothing and Footwear Wholesaling

NACE 2002:

5142 - Wholesale of clothing and footwear

NAICS 2002:

4243 - Apparel, Piece Goods, and Notions Merchant Wholesalers

UK SIC 2003:

5142 - Wholesale of clothing and footwear

UK SIC 2007:

4642 - Wholesale of clothing and footwear

US SIC 1987:

513 - Apparel, Piece Goods, and Notions

                      

Key Executives           

   

 

Name

Title

Paul Ratigan

Financial Controller

Kashif Ahmed

Secretary

Zubair Ali

IT Manager

Bushra Ahmed

Director

     

News                                                

 

Title

Date

Media information concerning Sept 5, 2012 BCGEU strike
Canada Newswire (158 Words)

4-Sep-2012

USPTO ISSUES TRADEMARK: IMINING
U.S. Fed News (134 Words)

1-Sep-2012

Reservations Now Accepted for SilverBirch Hotels & Resorts' New Extended Stay Hotel, the Residence Inn(R) by Marriott Vancouver Downtown
Market Wire (675 Words)

18-May-2012

    

Financial Summary                                                                                                                         

 

FYE: 30-Jun-2011

USD (mil)

Key Figures

 

Current Assets

17.15

Fixed Assets

3.95

Total Liabilities

8.35

Net Worth

10.82

 

Key Ratios

 

Current Ratio

2.05

Acid Test

1.80

Debt Gearing

17.89

 

 

 

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
Juice Corporations
2-16 Bury New Road
Manchester, M8 8FR
Greater Manchester County
United Kingdom

 

Tel:

01618317550

Fax:

01618351446

 

www.juicecorporation.co.uk

Sales GBP(mil):

NA

Assets GBP(mil):

13.1

Employees:

45

Fiscal Year End:

30-Jun-2011

 

Industry:

Apparel and Accessories

Registered Address:
Juice Corporations
2 16 Bury New Road
Manchester, M8 8FR
United Kingdom

 

Incorporation Date:

11-Oct-1999

Company Type:

Private Independent

Quoted Status:

Not Quoted

Registered No.(UK):

03856420

 

Director:

Bushra Ahmed

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

Gazette Status

Industry Codes

 

ANZSIC 2006 Codes:

371

-

Textile, Clothing and Footwear Wholesaling

 

NACE 2002 Codes:

5142

-

Wholesale of clothing and footwear

 

NAICS 2002 Codes:

4243

-

Apparel, Piece Goods, and Notions Merchant Wholesalers

 

US SIC 1987:

513

-

Apparel, Piece Goods, and Notions

 

UK SIC 2003:

5142

-

Wholesale of clothing and footwear

 

UK SIC 2007:

4642

-

Wholesale of clothing and footwear

 

Business Description

Importers, wholesale and distribution of fashion garments.

 

More Business Descriptions

Clothing Wholesale and Suppliers

 

 

 

 

 

 

 

 

Financial Data

 

Financials in:

GBP(mil)

 

Net Income:

0.2

Assets:

13.1

Current Assets:

10.7

 

Fixed Assets:

2.5

 

Long Term Debt:

1.2

 

Total Liabilities:

6.4

 

Issued Capital:

0.0

 

Working Capital:

5.5

 

Net Worth:

6.7

 

 

 

Date of Financial Data:

30-Jun-2011

 

1 Year Growth

NA

440.9%

 

Key Corporate Relationships

Auditor:

Grant Thornton UK LLP

Bank:

Habbib Bank Ag Zurich

 

Auditor:

Grant Thornton UK LLP

 

 

 

GBP(mil)

Audit Fees:

0.0

Audit Fiscal Year:

06-30-2011

 

 

 

 

Gazette Status

Description

Action Date

Publication

Publication Date

Striking Off Notice Discontinued

06-Jul-2010

Companies House

06-Jul-2010

Striking Off Notice

22-Jun-2010

Companies House

29-Jun-2010

 

 

 

 

 

 

 

 

 

Executives Report

 

 

Board of Directors

 

Name

Title

Function

Bushra Ahmed

 

Director

Director/Board Member

Age: 50

.

 

Executives

 

Name

Title

Function

Kashif Ahmed

 

Secretary

Company Secretary

Age: 37

 

Paul Ratigan

 

Financial Controller

Finance Executive

 

Zubair Ali

 

IT Manager

Information Executive

 

 

 

directors and Shareholders Report

 

Annual Return Date: 11 Oct 2011
Total Issued Capital (GBP 000): 5

 

Individual Directors

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Kashif
Ahmed

Current

02 Mar 1975

Juice Corporations, 2-16 Bury New Road,
Manchester, Greater Manchester M8 8FR

27 Oct 1999

NA

Current:9
Previous:2
Disqualifications:0

 

Bushra
Ahmed

Current

22 Feb 1962

Juice Corporations, 2-16 Bury New Road,
Manchester, Greater Manchester M8 8FR

01 Jul 2000

NA

Current:3
Previous:0
Disqualifications:0

 

Eathasham
Ahmed

Previous

14 Jan 1963

51 Porchfield Square,
Salford, Greater Manchester M3 4FG

01 Jul 2000

30 Jun 2003

Current:0
Previous:2
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

 

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Parkes Management Limited

Previous

Rifsons Rifsons House, 63-64 Charles Lane St Johns Wood,
St John's Wood, London NW8 7SB

07 Jan 2004

31 Aug 2004

Instant Companies Limited

Previous

1 Mitchell Lane,
Bristol, Avon BS1 6BU

11 Oct 1999

27 Oct 1999

 

 

 

 

Individual Secretaries

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Kashif
Ahmed

Current

02 Mar 1975

Juice Corporations, 2-16 Bury New Road,
Manchester, Greater Manchester M8 8FR

01 Jul 2000

NA

Current:9
Previous:2
Disqualifications:0

 

Nicholas Andrew
Roberts

Previous

NA

19 Cavendish Road,
Stockport, Greater Manchester SK4 3DN

27 Oct 1999

01 Jul 2000

Current:0
Previous:2
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

 

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Swift Incorporations Limited

Previous

26 Church Street,
St John's Wood, London NW8 8EP

11 Oct 1999

27 Oct 1999

Auckland Secretarial Services Limited

Previous

63-64 Charles Lane, St Johns Wood,
St John's Wood, London NW8 7SB

25 Nov 2003

31 Aug 2004

 

 

 

 

Individual Shareholders

 

Name

Share Details
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Bushra Ahmed

50 Ordinary GBP 1.00

Ordinary

50

1.00

50.00

1.00

Kashif Ahmed

1224 Ordinary GBP 1.00

Ordinary

1,224

1.00

1,224.00

24.48

Saeeda Ahmed

1826 Ordinary GBP 1.00

Ordinary

1,826

1.00

1,826.00

36.52

Saeeda Ahmed Trustee

1852 Ordinary GBP 1.00

Ordinary

1,852

1.00

1,852.00

37.04

Tabasum Hussain

24 Ordinary GBP 1.00

Ordinary

24

1.00

24.00

0.48

Tesneem Ahmed

24 Ordinary GBP 1.00

Ordinary

24

1.00

24.00

0.48

 

 

 

 

 

 

 

 

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)

 

 

 

 

 

 

 

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

 

 

 

 

 

 

Gross Profit

6.3

6.2

5.3

7.7

9.8

Depreciation

0.4

0.5

0.5

0.6

0.6

Other Expenses

5.1

5.6

6.0

7.2

8.9

Operating Profit

1.1

0.7

-0.8

-

-

Other Income

0.0

0.0

0.0

0.2

0.0

Interest Paid

0.4

0.4

0.4

0.6

0.5

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

0.7

0.3

-1.1

0.1

0.4

Tax Payable / Credit

0.4

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

0.4

0.3

-1.1

0.1

0.4

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

45

47

48

63

67

Wages

2.2

2.4

2.5

2.5

4.0

Social Security Costs

0.2

0.3

0.3

0.4

0.4

Pensions

-

-

-

-

0.0

Other Pension Costs

0.0

0.0

0.0

0.0

0.0

Employees Remuneration

2.5

2.7

2.8

2.8

4.4

Directors Emoluments

-

-

-

-

0.5

Other Costs

-

-

-

-

0.0

Directors Remuneration

0.5

0.5

0.4

0.5

0.5

Highest Paid Director

0.3

0.3

0.3

0.2

0.3

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

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

3.1

3.4

3.8

4.7

4.8

Fixtures & Fittings

0.4

0.4

0.6

1.0

1.3

Plant & Vehicles

0.5

0.5

0.7

1.1

0.2

Total Tangible Fixed Assets

4.0

4.2

5.1

6.7

6.4

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

4.0

4.2

5.1

6.7

6.4

Stocks

2.1

0.8

0.8

1.2

2.3

Work in Progress

0.0

0.0

0.0

0.0

0.0

Total Stocks Work In Progress

2.1

0.8

0.8

1.2

2.3

Trade Debtors

4.1

4.1

3.2

3.7

3.6

Inter-Company Debtors

9.9

9.5

10.4

13.3

13.3

Director Loans

-

-

-

-

0.3

Other Debtors

0.9

0.2

0.2

0.4

0.4

Total Debtors

14.9

13.8

13.8

17.4

17.5

Cash and Equivalents

0.2

0.0

0.0

0.0

0.6

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

17.2

14.6

14.7

18.7

20.4

Total Assets

21.1

18.8

19.8

25.4

26.8

Trade Creditors

1.5

1.1

0.8

0.9

0.9

Bank Overdraft

5.1

4.2

4.6

4.9

4.8

Inter-Company Creditors

-

-

0.0

0.0

0.0

Director Loans (Current Liability)

-

-

0.0

0.0

0.0

Hire Purchase (Current Liability)

0.2

0.4

0.1

0.3

-

Finance Lease (Current Liability)

0.0

0.0

0.0

0.0

-

Total Finance Lease/Hire Purchase (Current Liability)

0.2

0.4

0.1

0.3

0.4

Total Short Term Loans

0.2

-

0.0

0.0

0.2

Accruals/Deferred Income (Current Liability)

0.4

0.9

0.6

0.9

2.4

Social Security/VAT

0.4

-

0.0

0.4

0.3

Corporation Tax

0.3

-

0.2

0.0

0.0

Dividends (Current Liability)

-

-

0.0

0.0

0.0

Other Current Liabilities

0.2

0.4

0.0

0.0

0.0

Total Current Liabilities

8.3

6.9

6.4

7.4

9.1

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)

0.2

0.0

0.5

0.7

-

Leasing (Long Term Liability)

0.0

0.0

0.0

0.0

-

Total Hire Purchase Loans (Long Term Liability)

0.2

0.0

0.5

0.7

3.0

Other Long Term Loans

1.7

1.8

2.1

2.8

0.1

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

1.9

1.8

2.6

3.5

3.1

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

0.0

0.0

0.0

0.0

0.0

Share Premium Accounts

0.0

0.0

0.0

0.0

0.0

Revaluation Reserve

0.5

0.9

1.0

1.3

1.3

Retained Earnings

10.3

9.2

9.8

13.2

13.2

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

10.8

10.1

10.8

14.5

14.6

Net Worth

10.8

10.1

10.8

14.5

14.6

 

 

 

Annual Cash Flows

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 (Period Average)

0.629106

0.633607

0.627423

0.499214

0.517836

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Net Cash Flow From Operating Activities

0.2

0.7

0.3

0.7

0.2

Net Cash Flow from ROI and Servicing of Finance

-0.4

-0.4

-0.4

-0.6

-0.5

Taxation

-0.1

0.0

0.0

0.0

-0.1

Capital Expenditures

-0.2

0.0

0.0

-0.8

0.0

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

-0.2

-0.3

-0.4

0.3

0.1

Increase in Cash

-0.6

0.0

-0.5

-0.5

-0.3

 

 

 

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

2.05

2.12

2.30

2.52

2.23

Liquidity Ratio

1.80

2.00

2.17

2.36

1.99

Trade Credit by Debtors

0.38

0.26

0.24

0.25

0.26

Return on Capital

5.81%

2.38%

-8.76%

0.33%

2.23%

Return on Assets

3.51%

1.51%

-5.94%

0.23%

1.47%

Return on Shareholders Funds

6.85%

2.79%

-10.83%

0.41%

2.71%

Borrowing Ratio

68.25%

62.58%

67.26%

59.56%

58.97%

Equity Gearing

51.27%

53.95%

54.82%

57.10%

54.35%

Debt Gearing

17.89%

17.43%

23.70%

24.13%

21.38%

Interest Coverage

1.81

0.75

-3.03

0.10

0.73

Average Remuneration per Employee

0.1

0.1

0.1

0.0

0.1

Profit per Employee

0.0

0.0

0.0

0.0

0.0

Capital Employed per Employee

0.3

0.3

0.3

0.3

0.3

Tangible Assets per Employee

0.1

0.1

0.1

0.1

0.1

Total Assets per Employee

0.5

0.4

0.4

0.4

0.4

 

 

Bottom of Form

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.26

UK Pound

1

Rs.88.14

Euro

1

Rs.71.03

 

 

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.