MIRA
INFORM REPORT
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Report Date : |
02.12.2013 |
IDENTIFICATION DETAILS
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Name : |
H M HOSIERY LTD. |
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Registered Office : |
Hm House 28c Centurion Way, Meridian Business
Park, Leicester, LE19 1WH |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
05.10.2004 |
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Com. Reg. No.: |
05250152 |
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Legal Form : |
Private
Independent Company |
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Line of Business : |
manufacturers of
Hosiery |
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No. of Employees : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 30th, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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United Kingdom |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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 second largest economy in
Europe after Germany. 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
auterity 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 |
Note:
Due to negative
net worth, we could not recommend credit limit.
Company
name & address
H M Hosiery Ltd.
Hm House 28c
Centurion Way
Meridian Business
Park
Leicester, LE19
1WH
United Kingdom
Tel: 01162639920
Fax: 01162630030
Web: www.hmhosiery.com
synthesis
Employees: 25
Company Type: Private
Independent
Quoted Status: Non-quoted
Company
Incorporation
Date: 05-Oct-2004
Financials in: USD (Millions)
Fiscal Year End: 31-Mar-2013
Reporting
Currency: British Pound Sterling
Annual Sales: NA
Total Assets: 0.8
Business
Description
Hosiery
manufacturers.
Industry
Industry Clothing and Apparel Wholesale
ANZSIC 2006: 3711 - Textile Product Wholesaling
ISIC Rev 4: 4641 - Wholesale of textiles, clothing
and footwear
NACE Rev 2: 4641 - Wholesale of textiles
NAICS 2012: 424310 - Piece Goods, Notions, and Other
Dry Goods Merchant Wholesalers
UK SIC 2007: 4641 - Wholesale of textiles
US SIC 1987: 5131 - Piece Goods, Notions, and Other Dry
Good
Key
Executives
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Name |
Title |
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Kirstyanne Mokha |
Secretary |
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Manmeet Kaur Thiara |
Production Manager, Director |
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Harmail Singh Mokha |
Director |
Financial Summary
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1 - Profit &
Loss Item Exchange Rate: USD 1 = GBP 0.6329098
2 - Balance Sheet
Item Exchange Rate: USD 1 = GBP 0.6591356
Corporate
Overview
Location
Hm House 28c
Centurion Way
Meridian Business
Park
Leicester, LE19
1WH
Leicestershire
County
United Kingdom
Tel: 01162639920
Fax: 01162630030
Web: www.hmhosiery.com
Sales GBP(mil): NA
Assets GBP(mil): 0.6
Employees: 25
Fiscal Year End: 31-Mar-2013
Industry: Apparel
and Accessories
Registered Address:
Regent House 80
Regent Road
Leicester, LE1
7NH
United Kingdom
Incorporation
Date: 05-Oct-2004
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered
No.(UK): 05250152
Production Manager, Director:
Manmeet Kaur
Thiara
Industry Codes
ANZSIC 2006 Codes:
3711 - Textile Product Wholesaling
ISIC Rev 4 Codes:
4641 - Wholesale of textiles, clothing and
footwear
NACE Rev 2 Codes:
4641 - Wholesale of textiles
NAICS 2012 Codes:
424310 - Piece Goods, Notions, and Other Dry
Goods Merchant Wholesalers
US SIC 1987:
5131 - Piece Goods, Notions, and Other Dry
Good
UK SIC 2007:
4641 - Wholesale of textiles
Business Description
Hosiery manufacturers.
More Business Descriptions
Hosiery Manufacturers and Wholesale
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Executive report
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Board of
Directors |
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Director |
Director/Board Member |
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Production Manager, Director |
Director/Board Member |
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Executives |
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Secretary |
Company Secretary |
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Production Manager, Director |
Manufacturing Executive |
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Directors
and Shareholders Report
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Main Office Address: |
Tel: 01162639920 |
Annual Return Date: 05 Oct 2012 |
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Manmeet Kaur |
Current |
17 Jul 1970 |
8 Balmoral Close, Knighton, |
20 Oct 2004 |
NA |
Current:3 |
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Harmail Singh |
Current |
23 Jan 1969 |
Lion House Stoughton Lodge Farm, Stoughton Lane, |
05 Oct 2004 |
NA |
Current:3 |
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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 |
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Kirstyanne |
Current |
NA |
Lion House Stoughton Lodge Farm, Stoughton Lane, |
05 Oct 2004 |
NA |
Current:2 |
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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 |
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Harmail Singh Mokha |
55 Ordinary GBP 1.00 |
Ordinary |
55 |
1.00 |
55.00 |
57.89 |
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Manmeet Kaur Thiara |
40 Ordinary GBP 1.00 |
Ordinary |
40 |
1.00 |
40.00 |
42.11 |
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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)
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31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate
(Period Average) |
0.63291 |
0.626752 |
0.643394 |
0.627794 |
0.592803 |
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Consolidated |
No |
No |
No |
No |
No |
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Depreciation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Annual Balance Sheet
Financials in: USD (mil)
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|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate |
0.659136 |
0.628108 |
0.62385 |
0.659239 |
0.697666 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Tangible Fixed Assets |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Fixed Assets |
0.1 |
0.1 |
0.1 |
0.2 |
0.2 |
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Total Stocks Work In Progress |
0.1 |
0.2 |
0.3 |
0.2 |
0.3 |
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Total Debtors |
0.6 |
0.6 |
0.7 |
0.6 |
0.3 |
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Cash and Equivalents |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
0.8 |
0.9 |
1.0 |
0.8 |
0.6 |
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Total Assets |
0.8 |
1.0 |
1.2 |
1.0 |
0.8 |
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Other Current Liabilities |
0.9 |
1.0 |
1.2 |
0.9 |
0.7 |
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Total Current Liabilities |
0.9 |
1.0 |
1.2 |
0.9 |
0.7 |
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Group Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Director Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Leasing (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Long Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Deferred Taxation |
0.0 |
0.0 |
- |
- |
- |
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Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Issued Capital |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Revaluation Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Retained Earnings |
-0.1 |
-0.1 |
0.0 |
0.1 |
0.1 |
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Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Shareholders Funds |
-0.1 |
-0.1 |
0.0 |
0.1 |
0.1 |
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Net Worth |
-0.1 |
-0.1 |
0.0 |
0.0 |
0.0 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period
Average) |
0.63291 |
0.626752 |
0.643394 |
0.627794 |
0.592803 |
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Consolidated |
No |
No |
No |
No |
No |
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Annual Ratios
Financials in: USD (mil)
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|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.659136 |
0.628108 |
0.62385 |
0.659239 |
0.697666 |
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Consolidated |
No |
No |
No |
No |
No |
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Current Ratio |
0.82 |
0.82 |
0.89 |
0.93 |
0.84 |
|
Liquidity Ratio |
0.67 |
0.60 |
0.67 |
0.66 |
0.46 |
|
Equity Gearing |
-1,022.00% |
-943.00% |
-80.00% |
751.00% |
697.00% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.98 |
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 |
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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 |
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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 |
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-- |
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.