MIRA
INFORM REPORT
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Report Date : |
19.12.2013 |
IDENTIFICATION DETAILS
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Name : |
MURRAY HOGARTH CO. LTD. |
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Formerly Known As : |
Sageburn Ltd. |
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Registered Office : |
Unit 4 Tweed
Mill, Dunsdale Road, Selkirk, TD7 5DZ |
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Country : |
United Kingdom |
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Financials (as on) : |
31.01.2013 |
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Date of Incorporation : |
24.06.1999 |
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Com. Reg. No.: |
SC197536 |
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Legal Form : |
Private
Independent Company |
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Line of Business : |
·
Wholesaler
of textiles Wholesaler and Suppliers of Clothing |
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No. of Employees : |
28 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 : |
Slow but Correct |
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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
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.
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Source : CIA |
Company
name & address
Murray Hogarth Co. Ltd.
4 Tweed Mills
Dunsdale Road
Selkirk, TD7 5DZ
United Kingdom
Tel: 01750 23920
synthesis
Employees: 28
Company Type: Private
Independent
Quoted Status: Non-quoted
Company
Incorporation
Date: 24-Jun-1999
Auditor: Stark
Main & Co. Ltd
Financials in: USD (Millions)
Fiscal Year End: 31-Jan-2013
Reporting
Currency: British Pound Sterling
Annual Sales: NA
Total Assets: 1.9
Business
Description
Wholesale of
textiles.
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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Karen Barclay-Hogarth |
Director, Secretary |
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Alexandra Hogarth |
Director |
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Charles Murray Hogarth |
Director |
Financial Summary
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1 - Profit &
Loss Item Exchange Rate: USD 1 = GBP 0.6294872
2 - Balance Sheet
Item Exchange Rate: USD 1 = GBP 0.6332317
Corporate
Overview
Location
4 Tweed Mills
Dunsdale Road
Selkirk, TD7 5DZ
Scottish Borders
County
United Kingdom
Tel: 01750 23920
Sales GBP(mil): NA
Assets GBP(mil): 1.2
Employees: 28
Fiscal Year End: 31-Jan-2013
Industry: Apparel
and Accessories
Registered Address:
Unit 4 Tweed Mill
Dunsdale Road
Selkirk, TD7 5DZ
United Kingdom
Incorporation
Date: 24-Jun-1999
Company Type: Private Independent
Quoted Status: Not Quoted
Previous Name: Sageburn Ltd.
Registered
No.(UK): SC197536
Director: Charles Murray Hogarth
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
Wholesale of textiles.
More Business Descriptions
Clothing Wholesale and Suppliers
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executive Report
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Board of
Directors |
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Director, Secretary |
Director/Board Member |
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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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Director, Secretary |
Company Secretary |
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Directors
and Shareholders Report
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Main Office Address: |
Tel: 01750 23920 |
Annual Return Date: 24 Jun 2013 |
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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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Current |
14 Jan 1950 |
8 Catrail Road, |
12 Jul 1999 |
NA |
Current:2 |
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Current |
18 Apr 1986 |
14 Heathery Rig, Tweedbank, |
01 Feb 2012 |
NA |
Current:2 |
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Current |
31 Dec 1955 |
8 Catrail Road, |
10 Nov 2008 |
NA |
Current:4 |
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Previous |
09 May 1947 |
3 Loanside, |
17 Jul 2002 |
26 May 2006 |
Current:0 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Jordans (Scotland) Limited |
Previous |
24 Great King Street, |
24 Jun 1999 |
12 Jul 1999 |
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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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Current |
31 Dec 1955 |
8 Catrail Road, |
26 May 2006 |
NA |
Current:4 |
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Previous |
09 May 1947 |
3 Loanside, |
12 Jul 1999 |
26 May 2006 |
Current:0 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Oswalds Of Edinburgh Limited |
Previous |
24 Great King Street, |
24 Jun 1999 |
12 Jul 1999 |
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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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Charles Murray Hogarth |
100 Ordinary GBP 1.00 |
Ordinary |
100 |
1.00 |
100.00 |
100.00 |
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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-Jan-2013 |
31-Jan-2012 |
31-Jan-2011 |
30-Nov-2009 |
30-Nov-2008 |
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Period Length |
52 Weeks |
52 Weeks |
61 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate
(Period Average) |
0.629487 |
0.624696 |
0.648787 |
0.646269 |
0.530439 |
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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-Jan-2013 |
31-Jan-2012 |
31-Jan-2011 |
30-Nov-2009 |
30-Nov-2008 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate |
0.633232 |
0.637517 |
0.624317 |
0.609347 |
0.651699 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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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 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Stocks Work In Progress |
0.3 |
0.2 |
0.2 |
0.2 |
0.1 |
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Director Loans |
0.0 |
- |
- |
- |
0.1 |
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Other Debtors |
1.4 |
- |
- |
- |
0.7 |
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Total Debtors |
1.4 |
0.8 |
0.9 |
0.9 |
0.7 |
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Cash and Equivalents |
0.2 |
0.2 |
0.2 |
0.2 |
0.3 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
1.9 |
1.2 |
1.3 |
1.2 |
1.2 |
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Total Assets |
1.9 |
1.2 |
1.3 |
1.2 |
1.2 |
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Director Loans (Current Liability) |
- |
- |
0.0 |
0.0 |
- |
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Other Current Liabilities |
1.5 |
0.7 |
0.9 |
0.8 |
0.9 |
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Total Current Liabilities |
1.5 |
0.7 |
0.9 |
0.9 |
0.9 |
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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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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 |
0.4 |
0.5 |
0.4 |
0.4 |
0.2 |
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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 |
0.4 |
0.5 |
0.4 |
0.4 |
0.2 |
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Net Worth |
0.4 |
0.5 |
0.4 |
0.4 |
0.2 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Jan-2013 |
31-Jan-2012 |
31-Jan-2011 |
30-Nov-2009 |
30-Nov-2008 |
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Period Length |
52 Weeks |
52 Weeks |
61 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.629487 |
0.624696 |
0.648787 |
0.646269 |
0.530439 |
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Consolidated |
No |
No |
No |
No |
No |
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Annual Ratios
Financials in: USD (mil)
|
|
31-Jan-2013 |
31-Jan-2012 |
31-Jan-2011 |
30-Nov-2009 |
30-Nov-2008 |
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Period Length |
52 Weeks |
52 Weeks |
61 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.633232 |
0.637517 |
0.624317 |
0.609347 |
0.651699 |
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Consolidated |
No |
No |
No |
No |
No |
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Current Ratio |
1.29 |
1.60 |
1.38 |
1.41 |
1.26 |
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Liquidity Ratio |
1.12 |
1.36 |
1.21 |
1.24 |
1.10 |
|
Borrowing Ratio |
- |
- |
217.00% |
968.00% |
- |
|
Equity Gearing |
2,341.00% |
3,788.00% |
2,876.00% |
2,972.00% |
2,117.00% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
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UK Pound |
1 |
Rs.100.83 |
|
Euro |
1 |
Rs.85.27 |
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 |
|
26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
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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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<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.