MIRA
INFORM REPORT
|
Report Date : |
17.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
MOTHERCARE PLC. |
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|
|
|
Formerly Known as: |
STOREHOUSE PLC |
|
|
|
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Registered Office : |
Cherry Tree Road, Watford, Hertfordshire, Wd24 6sh |
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|
|
|
Country : |
United Kingdom |
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|
|
|
Financials (as on) : |
31.03.2012 |
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|
|
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Date of Incorporation : |
26.09.1985 |
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Com. Reg. No.: |
01950509 |
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|
|
|
Legal Form : |
Public limited with Share Capital |
|
|
|
|
Line of Business : |
A group engaged in retailing and sourcing company |
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|
|
|
No. of Employees : |
6943 |
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 |
|
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 – 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 |
|
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 aimed 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 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of up to £375 billion (approximately $605 billion) as of December 2012. 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). In 2012, weak consumer spending and subdued business investment weighed on the economy. GDP fell 0.1%, and the budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued to increase.
|
Source : CIA |
Company name & address
|
Company Name: |
MOTHERCARE PLC. |
|
Company No: |
01950509 |
|
Registered Address: |
|
CHERRY TREE ROAD |
|
WATFORD |
|
HERTFORDSHIRE |
|
WD24 6SH |
Company summary
|
Company Name |
MOTHERCARE PLC. |
Company Number |
01950509 |
|
Registered Address |
CHERRY TREE ROAD |
Trading Address |
High Street Mall |
|
|
WATFORD |
|
|
|
|
HERTFORDSHIRE |
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|
|
WD24 6SH |
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|
|
|
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|
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Website Address |
|
|
|
|
Telephone Number |
01923241000 |
Fax Number |
|
|
TPS |
No |
FPS |
No |
|
Incorporation Date |
26/09/1985 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
STOREHOUSE PLC |
Type |
Public limited with Share Capital |
|
|
|
FTSE Index |
FTSE Smallcap company |
|
Date of Change |
03/08/2000 |
Filing Date of
Accounts |
14/08/2012 |
|
|
|
Share Capital |
- |
|
SIC03 |
5248 |
Currency |
|
|
SIC03 Description |
OTHER RETAIL SPECIALISED STORE |
||
|
SIC07 |
47789 |
||
|
SIC07 Description |
OTHER RETAIL SALE OF NEW GOODS IN SPECIALISED STORES (NOT COMMERCIAL
ART GALLERIES AND OPTICIANS) |
||
|
Principal Activity |
A group engaged in retailing and sourcing company. |
||
Commentary
|
No exact match CCJs are recorded against the company. |
|
|
The credit limit on this company has risen 6.2% in comparison to the
previously suggested credit limit. |
|
|
Sales in the latest trading period increased 2.4% on the previous
trading period. |
|
|
Net Worth decreased by 72.2% during the latest trading period. |
|
|
A 17.3% decline in Total Assets occurred during the latest trading
period. |
|
|
Pre-tax profits decreased by 999.9% compared to the previous trading
period. |
|
|
The company saw a decrease in their Cash Balance of 88.2% during the
latest trading period. |
|
|
The audit report contains no adverse comments. |
|
|
The company has undergone recent changes in its directorships. |
|
|
The company is part of a group. |
|
|
The company was established over 27 years ago. |
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Latest News |
|
|
Mothercare pushed into loss by UK business (BBC NEWS -
24 May 2012) |
|
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
31/03/2012 |
£812,700,000 |
-£102,900,000 |
£72,700,000 |
6943 |
|
26/03/2011 |
£793,600,000 |
£8,800,000 |
£192,800,000 |
12090 |
|
27/03/2010 |
£766,400,000 |
£32,500,000 |
£188,400,000 |
11938 |
Payment Information Summary
|
Days Beyond Terms |
Trend Indicator |
Average
Payment Experience |
|
||||
|
Steady ImprovingWorsening |
Be the first to leave a payment experience Within Terms91+ Days |
|
CCJ
|
Total Number of Exact CCJs - |
Total Value of Exact CCJs - |
|
|
|
Total Number of Possible CCJs - |
Total Value of Possible CCJs - |
||
|
Total Number of Satisfied CCJs - |
Total Value of Satisfied CCJs - |
|
|
|
Total Number of Writs - |
- |
|
|
Exact CCJ Details
There are no exact CCJ details
Possible CCJ Details
|
Date |
Court |
Amount |
Status |
Case Number |
Date Paid |
Registered CCJ / CJ Details |
|
26/08/2011 |
NORTHAMPTON CCBC |
£212 |
Judgement |
1XC66308 |
- |
MOTHERCARE, 5-7 ADLINGTON WALK, STOCKPORT, CHESHIRE, SK1 1PR, SK1 1PR |
Writ Details
There are no writ details
Mortgage Summary
|
Outstanding |
3 |
|
Satisfied |
1 |
|
Total Current Directors |
8 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
28 |
Current Directors
|
Name |
Date of Birth |
31/12/1946 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
10 |
Function |
Director |
|
Appointment Date |
02/08/2004 |
|
|
|
Address |
Cherry Tree Road, Watford, Hertfordshire, WD24 6SH |
||
|
|
|
|
|
|
Name |
Date of Birth |
29/10/1947 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
17/07/2008 |
|
|
|
Address |
Cherry Tree Road, Watford, Hertfordshire, WD24 6SH |
||
|
|
|
|
|
|
Name |
Date of Birth |
01/06/1962 |
|
|
Officers Title |
Ms |
Nationality |
American |
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
01/01/2013 |
|
|
|
Address |
Cherry Tree Road, Watford, Hertfordshire, WD24 6SH |
||
|
|
|
|
|
|
Name |
Date of Birth |
06/12/1963 |
|
|
Officers Title |
Ms |
Nationality |
British |
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
01/01/2011 |
|
|
|
Address |
St Helen's 1 Undershaft, London, EC3P 3DQ |
||
|
|
|
|
|
|
Name |
Date of Birth |
25/11/1946 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
3 |
Function |
Director |
|
Appointment Date |
15/08/2011 |
|
|
|
Address |
(Mothercare) Cherry Tree Road, Watford, Hertfordshire, WD24 6SH |
||
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|
|
|
|
|
Name |
Date of Birth |
24/07/1964 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
5 |
Function |
Director |
|
Appointment Date |
30/04/2012 |
|
|
|
Address |
Mothercare Plc Cherry Tree Road, Watford, Hertfordshire, WD24 6SH |
||
|
|
|
|
|
|
Name |
Date of Birth |
31/08/1957 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
21 |
Function |
Director |
|
Appointment Date |
02/07/2012 |
|
|
|
Address |
Mothercare Plc Cherry Tree Road, Watford, Hertfordshire, WD24 6SH |
||
|
|
|
|
|
|
Name |
Date of Birth |
25/05/1971 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
25/03/2013 |
|
|
|
Address |
Mothercare Plc Cherry Tree Road, Watford, Hertfordshire, WD24 6SH |
||
|
|
|
|
|
Current Company Secretary
|
Name |
Date of Birth |
07/05/1962 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
38 |
Function |
Company Secretary |
|
Appointment Date |
30/08/2010 |
|
|
|
Address |
Cherry Tree Road, Watford, Hertfordshire, WD24 6SH |
||
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|
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Profit & Loss
|
Date Of Accounts |
31/03/12 |
26/03/11 |
27/03/10 |
28/03/09 |
31/03/08 |
|
Weeks |
52 |
52 |
52 |
52 |
52 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Consolidated A/cs |
Y |
Y |
Y |
Y |
Y |
|
Turnover |
£812,700,000 |
£793,600,000 |
£766,400,000 |
£723,600,000 |
£676,800,000 |
|
Export |
- |
- |
- |
- |
£111,800,000 |
|
Cost of Sales |
£770,400,000 |
£737,700,000 |
£679,400,000 |
£636,800,000 |
£612,500,000 |
|
Gross Profit |
£42,300,000 |
£55,900,000 |
£87,000,000 |
£86,800,000 |
£64,300,000 |
|
Wages & Salaries |
£93,400,000 |
£99,700,000 |
£110,900,000 |
£99,400,000 |
£86,300,000 |
|
Directors Emoluments |
£7,460,000 |
£7,800,000 |
£9,000,000 |
£2,300,000 |
£2,465,000 |
|
Operating Profit |
- |
£9,400,000 |
£33,200,000 |
£43,100,000 |
£4,400,000 |
|
Depreciation |
£25,600,000 |
£16,600,000 |
£15,100,000 |
£17,300,000 |
£16,000,000 |
|
Audit Fees |
£300,000 |
£300,000 |
£300,000 |
£400,000 |
£400,000 |
|
Interest Payments |
£1,400,000 |
£700,000 |
£700,000 |
£1,500,000 |
£1,500,000 |
|
Pre Tax Profit |
-£102,900,000 |
£8,800,000 |
£32,500,000 |
£42,000,000 |
£4,500,000 |
|
Taxation |
£11,100,000 |
-£2,300,000 |
-£8,900,000 |
-£11,800,000 |
-£4,400,000 |
|
Profit After Tax |
-£91,800,000 |
£6,500,000 |
£23,600,000 |
£30,200,000 |
£100,000 |
|
Dividends Payable |
£11,900,000 |
£15,500,000 |
£13,200,000 |
£10,900,000 |
£7,900,000 |
|
Retained Profit |
-£103,700,000 |
-£9,000,000 |
£10,400,000 |
£19,300,000 |
-£7,800,000 |
Balance Sheet
|
Date Of Accounts |
31/03/12 |
26/03/11 |
27/03/10 |
28/03/09 |
31/03/08 |
|
Tangible Assets |
£115,300,000 |
£108,400,000 |
£103,500,000 |
£93,900,000 |
£98,600,000 |
|
Intangible Assets |
£48,900,000 |
£107,100,000 |
£104,900,000 |
£104,500,000 |
£104,200,000 |
|
Total Fixed Assets |
£164,200,000 |
£215,500,000 |
£208,400,000 |
£198,400,000 |
£202,800,000 |
|
Stock |
£99,100,000 |
£116,000,000 |
£91,300,000 |
£94,100,000 |
£70,800,000 |
|
Trade Debtors |
£47,200,000 |
£51,000,000 |
£39,800,000 |
£34,100,000 |
£24,700,000 |
|
Cash |
£1,800,000 |
£15,300,000 |
£38,500,000 |
£24,800,000 |
£22,700,000 |
|
Other Debtors |
£26,100,000 |
£11,500,000 |
£17,900,000 |
£20,300,000 |
£28,400,000 |
|
Miscellaneous Current Assets |
0 |
0 |
£14,100,000 |
£7,300,000 |
£700,000 |
|
Total Current Assets |
£174,200,000 |
£193,800,000 |
£201,600,000 |
£180,600,000 |
£147,300,000 |
|
Trade Creditors |
£71,000,000 |
£77,500,000 |
£59,100,000 |
£58,900,000 |
£45,300,000 |
|
Bank Loans & Overdrafts |
£1,900,000 |
0 |
0 |
0 |
0 |
|
Other Short Term Finance |
£1,300,000 |
£4,000,000 |
£3,700,000 |
£2,200,000 |
£400,000 |
|
Miscellaneous Current Liabilities |
£77,400,000 |
£57,900,000 |
£68,200,000 |
£61,600,000 |
£74,300,000 |
|
Total Current Liabilities |
£151,600,000 |
£139,400,000 |
£131,000,000 |
£122,700,000 |
£120,000,000 |
|
Bank Loans & Overdrafts and LTL |
£116,000,000 |
£77,100,000 |
£90,600,000 |
£58,800,000 |
£32,100,000 |
|
Other Long Term Finance |
0 |
£32,300,000 |
£26,200,000 |
£19,700,000 |
£100,000 |
|
Total Long Term Liabilities |
£114,100,000 |
£77,100,000 |
£90,600,000 |
£58,800,000 |
£32,100,000 |
Capital & Reserves
|
Date Of Accounts |
31/03/12 |
26/03/11 |
27/03/10 |
28/03/09 |
31/03/08 |
|
Called Up Share Capital |
£44,300,000 |
£44,300,000 |
£44,100,000 |
£43,800,000 |
£43,600,000 |
|
P & L Account Reserve |
-£26,500,000 |
£100,700,000 |
£96,200,000 |
£108,000,000 |
£110,000,000 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
|
Sundry Reserves |
£54,900,000 |
£47,800,000 |
£48,100,000 |
£45,700,000 |
£44,400,000 |
|
Shareholder Funds |
£72,700,000 |
£192,800,000 |
£188,400,000 |
£197,500,000 |
£198,000,000 |
Other Financial Items
|
Date Of Accounts |
31/03/12 |
26/03/11 |
27/03/10 |
28/03/09 |
31/03/08 |
|
Net Worth |
£23,800,000 |
£85,700,000 |
£83,500,000 |
£93,000,000 |
£93,800,000 |
|
Working Capital |
£22,600,000 |
£54,400,000 |
£70,600,000 |
£57,900,000 |
£27,300,000 |
|
Total Assets |
£338,400,000 |
£409,300,000 |
£410,000,000 |
£379,000,000 |
£350,100,000 |
|
Total Liabilities |
£265,700,000 |
£216,500,000 |
£221,600,000 |
£181,500,000 |
£152,100,000 |
|
Net Assets |
£72,700,000 |
£192,800,000 |
£188,400,000 |
£197,500,000 |
£198,000,000 |
Cash Flow
|
Date Of Accounts |
31/03/12 |
26/03/11 |
27/03/10 |
28/03/09 |
31/03/08 |
|
Net Cashflow from Operations |
£5,600,000 |
£27,100,000 |
£50,100,000 |
£34,900,000 |
£51,800,000 |
|
Net Cashflow before Financing |
-£21,800,000 |
-£4,900,000 |
£26,400,000 |
£12,200,000 |
£5,500,000 |
|
Net Cashflow from Financing |
£7,100,000 |
-£16,300,000 |
-£12,900,000 |
-£11,700,000 |
-£11,900,000 |
|
Increase in Cash |
-£14,700,000 |
-£21,200,000 |
£13,500,000 |
£500,000 |
£17,400,000 |
Miscellaneous
|
Date Of Accounts |
31/03/12 |
26/03/11 |
27/03/10 |
28/03/09 |
31/03/08 |
|
|
|
Contingent Liability |
NO |
NO |
NO |
NO |
NO |
|
Capital Employed |
£186,800,000 |
£269,900,000 |
£279,000,000 |
£256,300,000 |
£230,100,000 |
|
|
Number of Employees |
6943 |
12090 |
11938 |
7715 |
4244 |
|
|
Auditors |
DELOITTE LLP |
|||||
|
Auditor Comments |
The audit report contains no adverse comments |
|||||
|
Bankers |
HSBC BANK PLC |
|||||
|
Bank Branch Code |
40-02-50 |
|||||
Ratios
|
Date Of Accounts |
31/03/12 |
26/03/11 |
27/03/10 |
28/03/09 |
31/03/08 |
|
Pre-tax profit margin % |
-12.66 |
1.11 |
4.24 |
5.80 |
0.66 |
|
Current ratio |
1.15 |
1.39 |
1.54 |
1.47 |
1.23 |
|
Sales/Net Working Capital |
35.96 |
14.59 |
10.86 |
12.50 |
24.79 |
|
Gearing % |
159.60 |
40 |
48.10 |
29.80 |
16.20 |
|
Equity in % |
25.10 |
63.80 |
61.80 |
71.90 |
80.50 |
|
Creditor Days |
31.80 |
35.54 |
28.06 |
29.62 |
24.43 |
|
Debtor Days |
21.14 |
23.39 |
18.90 |
17.15 |
13.32 |
|
Liquidity/Acid Test |
0.49 |
0.55 |
0.84 |
0.70 |
0.64 |
|
Return On Capital Employed % |
-55.08 |
3.26 |
11.64 |
16.38 |
1.96 |
|
Return On Total Assets Employed % |
-30.40 |
2.15 |
7.92 |
11.08 |
1.29 |
|
Current Debt Ratio |
2.08 |
0.72 |
0.69 |
0.62 |
0.61 |
|
Total Debt Ratio |
3.65 |
1.12 |
1.17 |
0.91 |
0.77 |
|
Stock Turnover Ratio % |
12.19 |
14.61 |
11.91 |
13 |
10.46 |
|
Return on Net Assets Employed % |
-141.54 |
4.56 |
17.25 |
21.26 |
2.27 |
Status History
|
No Status History found |
*Event History
|
Date |
Description |
|
05/04/2013 |
New Board Member Mr M. Smith appointed |
|
24/01/2013 |
New Board Member Ms A. Brav appointed |
|
07/01/2013 |
Mr B.A. Cragg has left the board |
|
22/08/2012 |
Annual Returns |
|
22/08/2012 |
New Accounts Filed |
|
25/07/2012 |
Mr N.S. Harrington has left the board |
|
17/07/2012 |
New Accounts Filed |
|
16/07/2012 |
New Board Member Mr L.D. Ginsberg appointed |
|
10/07/2012 |
New Board Member L. Ginsberg appointed |
|
10/05/2012 |
New Board Member Mr S.J. Calver appointed |
|
09/12/2011 |
Mr J.B. Gordon has left the board |
|
09/12/2011 |
Mr I.R. Peacock has left the board |
|
19/09/2011 |
New Company Secretary Mr T.J. Ashby appointed |
|
27/08/2011 |
Annual Returns |
|
24/08/2011 |
New Board Member Mr A.C. Parker appointed |
Previous Company Names
|
Date |
Previous Name |
|
03/08/2000 |
STOREHOUSE PLC |
|
06/12/1985 |
15TH LEGIBUS PLC |
Statistics
|
Group |
26 companies |
|
Linkages |
|
|
Countries |
Summary
|
Holding Company |
MOTHERCARE PLC. |
|
Ownership Status |
Ultimately Owned |
|
Ultimate Holding Company |
MOTHERCARE PLC. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
|
UK Pound |
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.71.05 |
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.