MIRA INFORM REPORT

 

 

Report Date :

26.07.2013

 

IDENTIFICATION DETAILS

 

Name :

DEBENHAMS RETAIL PLC

 

 

Registered Office :

The Corner 1 Newport Road Middlesbrough, TS1 1LF

 

 

Country :

United Kingdom

 

 

Financials (as on) :

01.09.2012

 

 

Date of Incorporation :

28.01.1905

 

 

Com. Reg. No.:

00083395

 

 

Legal Form :

Public Subsidiary

 

 

Line of Business :

Retail sale of clothing, footwear and leather articles in specialized stores

 

 

No. of Employees :

26,936

 

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 – March 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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 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.

Source : CIA

Company name and address

Top of Form

Debenhams Retail PLC

                                                                                                                                                  

 

The Corner

1 Newport Road

 

Middlesbrough, TS1 1LF

United Kingdom

(Trading Address)
Registered Address

 

Business address:

5th Floor, Henriatta Place, 1, Welbeck Street, London, WIG 0AA, United Kingdom

 

 

Tel:

01823337979

Fax:

02074083366

 

www.debenhams.com

 

Employees:

26,936

Company Type:

Public Subsidiary

Corporate Family:

44 Companies

Ultimate Parent:

Debenhams Plc

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

28-Jan-1905

Auditor:

PricewaterhouseCoopers LLP

Financials in:

 USD (mil)

Fiscal Year End:

01-Sep-2012

Reporting Currency:

British Pound Sterling

Annual Sales:

3,179.3  1

Net Income:

(1,823.7)

Total Assets:

3,155.1

                                

Business Description                  

 

Debenhams Retail PLC owns and operates various retail stores in the United Kingdom. Its stores offer a range of belts, umbrellas, purses, hats, gloves and scarves. The company provides women’s clothing, such as skirts and long and short sleeved tops in different sizes and colours. Its stores offer a variety of trousers, jeans, coats and jackets for men. The company additionally provides beach, cross body, grab, occasion, scoop, shoulder and tote bags. Its stores offer a number of wedding dresses, swimsuits, beach shoes and sunglasses. In addition, the company provides nightwear and knitwear in different designs.

          

Industry                                                                                                                                     

 

Industry

Clothing and Apparel Stores

ANZSIC 2006:

4251 - Clothing Retailing

ISIC Rev 4:

4771 - Retail sale of clothing, footwear and leather articles in specialized stores

NACE Rev 2:

4771 - Retail sale of clothing in specialised stores

NAICS 2012:

448120 - Women's Clothing Stores

UK SIC 2007:

4771 - Retail sale of clothing in specialised stores

US SIC 1987:

5651 - Family Clothing Stores

                        


Key Executives           

   

 

Name

Title

Martina King

Executive Director

Richard Cristofoli

Marketing Director

Paul Rex Eardley

Secretary

Paul Munday

Technical Manager Networks

Nikki Zamblera

Human Resources Director

                                                                        

Financial Summary                                           

 

FYE: 1-Sep-2012

USD (mil)

Key Figures

 

Current Assets

2,253.89

Fixed Assets

901.24

Total Liabilities

1,922.95

Net Worth

1,098.76

 

Key Ratios

 

Current Ratio

1.17

Acid Test

0.93

Debt Gearing

0.65

 

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6354192
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6333495

 

 

Corporate Overview

 

Location
The Corner
1 Newport Road
Middlesbrough, TS1 1LF
Cleveland County
United Kingdom

 

Tel:

01823337979

Fax:

02074083366

 

www.debenhams.com

Sales GBP(mil):

2,020.2

Assets GBP(mil):

1,998.3

Employees:

26,936

Fiscal Year End:

01-Sep-2012

 

Industry:

Retail (Apparel)

Registered Address:
1 Welbeck Street
London, W1G 0AA
United Kingdom

 

Incorporation Date:

28-Jan-1905

Company Type:

Public Subsidiary

Quoted Status:

Not Quoted

Registered No.(UK):

00083395

 

Executive Director:

Martina King

 

 

Industry Codes

 

ANZSIC 2006 Codes:

4251

-

Clothing Retailing

6999

-

Other Professional, Scientific and Technical Services Not Elsewhere Classified

4279

-

Other Store-Based Retailing Not Elsewhere Classified

 

ISIC Rev 4 Codes:

4771

-

Retail sale of clothing, footwear and leather articles in specialized stores

8299

-

Other business support service activities n.e.c.

 

NACE Rev 2 Codes:

4771

-

Retail sale of clothing in specialised stores

4772

-

Retail sale of footwear and leather goods in specialised stores

8299

-

Other business support service activities n.e.c.

 

NAICS 2012 Codes:

448120

-

Women's Clothing Stores

448

-

Clothing and Clothing Accessories Stores

561990

-

All Other Support Services

 

US SIC 1987:

5651

-

Family Clothing Stores

7389

-

Business Services, Not Elsewhere Classified

59

-

Miscellaneous Retail

 

UK SIC 2007:

4771

-

Retail sale of clothing in specialised stores

4772

-

Retail sale of footwear and leather goods in specialised stores

8299

-

Other business support service activities n.e.c.

 

Business Description

Debenhams Retail PLC owns and operates various retail stores in the United Kingdom. Its stores offer a range of belts, umbrellas, purses, hats, gloves and scarves. The company provides women’s clothing, such as skirts and long and short sleeved tops in different sizes and colours. Its stores offer a variety of trousers, jeans, coats and jackets for men. The company additionally provides beach, cross body, grab, occasion, scoop, shoulder and tote bags. Its stores offer a number of wedding dresses, swimsuits, beach shoes and sunglasses. In addition, the company provides nightwear and knitwear in different designs.

 

More Business Descriptions

Debenhams Retail PLC maintains more than 120 stores throughout the United Kingdom and Ireland, as well as a fully transactional Web site reflecting the company’s commitment to offering customers greater value, wider choice and excellent service. Debenhams offers a varied combination of own-bought brands, exclusive designer ranges and leading international brands. The company sells more than 500 international brands and is one of the United Kingdom’s top retailers of many international brands, including Clarins and Yves Saint Laurent, Denby, Meyer, Portmeirion and Le Creuset, Ben Sherman, Playtex and Lepel. Debenhams Retail PLC has head offices in London.

 

Apparel & Accessories Retailer

 

Sports Goods Retail Sale

 

Debenhams is leading international multi-channel brand with a proud British heritage which trades out of 240 stores across 28 countries. Debenhams gives its customers around the world a unique differentiated and exclusive mix of own brands international brands and concessions. In the UK Debenhams has a top four market share in womenswear and menswear it also has a top 10 share in childrenswear. It leads the market in premium health and beauty. Debenhams is available online in 70 countries and is the 11th biggest UK online retailer by traffic volume. In 2012 Debenhams was awarded Multichannel Retailer of the Year at the Oracle Retail Week Awards. Debenhams has been investing in British design for 20 years through its exclusive Designers at Debenhams portfolio of brands. Current designers include Ted Baker Jeff Banks Jasper Conran Erickson Beamon FrostFrench Henry Holland Roksanda Illincic Betty Jackson Jonathan Kelsey Carol Lake Ben de Lisi Julien Macdonald Melissa Odabash Jane Packer Jenny Packham Pearce Fionda Preen Janet Reger John Rocha Jonathan Saunders Lisa Stickley Yukari Sweeney Ashley Thomas Eric Van Peterson and Matthew Williamson.

 

 

 

 

 

 

Financial Data

Financials in:

GBP(mil)

 

Revenue:

2,020.2

Net Income:

-1,158.8

Assets:

1,998.3

Current Assets:

1,427.5

 

Fixed Assets:

570.8

 

Long Term Debt:

4.5

 

Total Liabilities:

1,222.4

 

Issued Capital:

44.6

 

Working Capital:

209.6

 

Net Worth:

695.9

 

 

 

Date of Financial Data:

01-Sep-2012

 

1 Year Growth

-0.4%

NA

150.0%

 

Key Corporate Relationships

Auditor:

PricewaterhouseCoopers LLP

 

Auditor:

PricewaterhouseCoopers LLP

 

Auditor History

PricewaterhouseCoopers LLP

01-Sep-2012

PricewaterhouseCoopers LLP

03-Sep-2011

PricewaterhouseCoopers LLP

28-Aug-2010

PricewaterhouseCoopers LLP

29-Aug-2009

PricewaterhouseCoopers LLP

30-Aug-2008

 

 

 

GBP(mil)

Audit Fees:

0.1

Non Audit Fees:

0.3

Audit Fiscal Year:

09-01-2012

 

 

 

 

Corporate Structure News

 

Debenhams Retail PLC
Total Corporate Family Members: 44

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Debenhams Plc

Parent

London

United Kingdom

Department Stores

3,509.2

8,355

Debenhams Retail (Ireland) Limited

Subsidiary

Dublin

Ireland

Department Stores

231.7

1,742

Aktieselskabet Th. Wessel & Vett, Magasin Du Nord

Subsidiary

København K

Denmark

Department Stores

237.3

895

Debenhams

UK Branch/Trading address

Stoke-On-Trent

United Kingdom

Grocery Stores

3,509.2

 

Bf Properties (No.4) Ltd

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

0.0

 

Bf Properties (No.5) Ltd

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

0.0

 

Bf Propco (No.10) Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

18.4

 

Bf Propco (No.12) Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

7.8

 

Bf Propco (No.3) Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

3.3

 

Bf Propco (No.5) Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

3.2

 

Bf Propco (No.4) Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

2.4

 

Bf Propco (No.13) Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

2.1

 

Bf Propco (No.1) Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

2.0

 

Bf Propco (No.19) Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

1.0

 

Bf Propco (No.18) Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

0.0

 

Bf Propco (No.16) Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

0.0

 

Bf Propco (No.11) Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

0.0

 

Bf Propco (No.9) Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

0.0

 

Bf Propco (No.23) Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

0.0

 

Bf Propco (No.22) Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

0.0

 

Debenhams Finance Holdings Ltd.

Subsidiary

London

United Kingdom

Holding Companies

 

 

Baroness Retail Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Debenhams Group Holdings Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Debenhams Retail PLC

Subsidiary

Middlesbrough

United Kingdom

Clothing and Apparel Stores

3,179.3

26,936

Debenhams

UK Branch/Trading address

Nuneaton

United Kingdom

Grocery Stores

3,179.3

3

Aktieselskabet Th. Wessel & Vett. Magasin Du Nord

Subsidiary

Kobenhavn, København

Denmark

Department Stores

224.2

 

Debenhams Pension Trust Ltd.

Subsidiary

 

United Kingdom

Pensions and Funds

 

 

Debenhams Direct Ltd.

Subsidiary

London

United Kingdom

Non-store Retail

 

 

Debenhams Card Handling Services Ltd.

Subsidiary

London

United Kingdom

Accounting and Tax Preparation

 

 

Debenhams (No. 2) Pension Trust Ltd.

Subsidiary

 

United Kingdom

Pensions and Funds

 

 

Debenhams. Com Ltd

Subsidiary

 

United Kingdom

Nonclassifiable Establishments

 

 

Debenhams Principles Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Debenhams Properties Ltd.

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

148.1

 

Debenhams

UK Branch/Trading address

Stirling

United Kingdom

Grocery Stores

 

 

Debenhams

UK Branch/Trading address

Aberdeen

United Kingdom

Grocery Stores

 

 

Bf Iii Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Bf Properties (No.2) Ltd

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Bf Properties (No. 1) Ltd

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

 

 

Baroness Holdings Uk Ltd.

Subsidiary

 

United Kingdom

Holding Companies

 

 

Bf Properties (No. 3) Ltd

Subsidiary

London

United Kingdom

Residential and Commercial Building Construction

 

 

Jerimain Investments Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Debenhams Group Holdings Limited

Subsidiary

Edinburgh

United Kingdom

Investment Services

 

 

Debenhams Retail Holdings (Ireland) Limited

Subsidiary

Dublin

Ireland

Clothing and Apparel Stores

 

 

Debenhams Properties Limited

Subsidiary

Coventry

United Kingdom

Real Estate Agents and Brokers

 

 

 

 



 

Executives Report

 

Board of Directors

 

Name

Title

Function

 

Nigel Northridge

 

Chairman

Chairman

 

Biography:

Nigel Northridge was appointed Chairman of Debenhams plc on 1 April 2010 having joined the board on 1 January 2010. He is also Chairman of the Nomination Committee. Mr.

 

Adam Crozier

 

Independent Non Executive Director

Director/Board Member

 

 

Biography:

Adam Crozier ITV Chief Executive said: We are very pleased that this long running legal dispute with STV has been settled by way of an 18m payment to ITV. We look forward to working closely with STV in the future.

 

Peter Fitzgerald

 

Non Executive Director

Director/Board Member

 

 

Biography:

Peter Fitzgerald (42) is Country Sales Director for Google UK/Eire having worked for that business since 2007 predominantly with retail business clients. From 1999 to 2007 Mr Fitzgerald worked for Amazon both in Europe and the USA. An American citizen he holds a BA in English Literature from Rockhurst College Kansas City.

 

Simon Edward Herrick

 

Director

Director/Board Member

 

 

Biography:

Simon Herrick joined the board of Debenhams on 1 November 2011 as an Executive Director. He will take up the appointment of Chief Financial Officer at the forthcoming AGM on 10 January 2012. From 2009 to 2011 Mr Herrick was Group Finance Director and then Acting Chief Executive Officer at Northern Foods PLC. Prior to this he worked for Kesa Electricals PLC from 2004 to 2009 serving as Finance Director from 2005 to 2009. Mr Herrick has also held senior roles at Regus PLC Hays PLC and Pepsi Cola International. He is a member of the Institute of Chartered Accountants in England and Wales and holds an MBA from Durham University.

 

Age: 50

 

Martina King

 

Executive Director

Director/Board Member

 

 

Biography:

Martina became the first Managing Director of Yahoo! UK & Ireland in October 1999 and subsequently ran Yahoos operations across Europe. Previously she held positions in broadcast and print media including Managing Director of TSMS Group Limited. Prior to that she spent six years at Capital Radio as Managing Director responsible for the companys London stations. Martinas career began with sales roles in the newspaper business at The Observer and The Guardian. She is currently also non-executive director for Capita plc Johnston Press plc and Debenhams plc a Trustee of Coram a Governor Seckford Foundation and Treasurer of The Marketing Group of Great Britain.

 

Sophie Turner Laing

 

Independent Non Executive Director

Director/Board Member

 

 

Biography:

Sophie Turner Laing was appointed Managing Director Entertainment and News in March 2007. She has overall responsibility for Skys portfolio of entertainment and news channels including Sky1 Sky News Sky Arts Sky Real Lives Sky Movies and Sky Box Office as well as Broadcast Operations Network Planning and the Sky Creative Agency. Prior to joining Sky in March 2003 Sophie held a number of senior roles at the BBC and Flextech after beginning her television career at Henson International Television.

 

Dennis Millard

 

Independent Non Executive Director

Director/Board Member

 

 

Biography:

Dennis Millard became a Director of the Company in April 2006 and is Senior Independent non-executive Director and Chairman of the Audit Committee.

 

Paul Pindar

 

Non Executive Director

Director/Board Member

 

 

Biography:

Joined Capita in 1987 from 3i after advising Capita on its management buy-out and became Chief Executive in 1999. A Chartered Accountant Paul is responsible for managing and developing Capitas operations to achieve the Companys strategic objectives and has overall responsibility for our charitable approach. Paul is also Chair of the Great Ormond Street Hospitals Corporate Partnerships Board.

 

Mark Rolfe

 

Non Executive Director

Director/Board Member

 

 

Biography:

Mark joined the Board in December 2007. After qualifying as a chartered accountant with Coopers and Lybrand Mark joined Gallaher Group plc in 1986 where he was Finance Director for seven years retiring in 2007. He is also a Non-executive Director of Hornby plc Barratt Developments Plc and Debenhams Plc and Chairman of Lane Clark and Peacock LLP.

 

Michael John Todkill Sharp

 

Director

Director/Board Member

 

 

Biography:

Michael Sharp was appointed Deputy Chief Executive in November 2008 having previously held the post of Chief Operating Officer since May 2006. From 1997 to 2004 Mr Sharp was Trading Director of Debenhams Limited and from January 2004 to May 2006 was Chief Operating Officer of Debenhams Limited. He previously worked in various capacities within the Burton Group including as Managing Director of Principles and Racing Green and Buying and Merchandising Director of Topshop and Topman.

 

Age: 56

 

 

Executives

 

Name

Title

Function

Martina King

 

Executive Director

Chief Executive Officer

Biography:

Martina became the first Managing Director of Yahoo! UK & Ireland in October 1999 and subsequently ran Yahoos operations across Europe. Previously she held positions in broadcast and print media including Managing Director of TSMS Group Limited. Prior to that she spent six years at Capital Radio as Managing Director responsible for the companys London stations. Martinas career began with sales roles in the newspaper business at The Observer and The Guardian. She is currently also non-executive director for Capita plc Johnston Press plc and Debenhams plc a Trustee of Coram a Governor Seckford Foundation and Treasurer of The Marketing Group of Great Britain.

 

Alison Hawks

 

PA to Managing Director

Managing Director

 

Paul Rex Eardley

 

Secretary

Company Secretary

 

Age: 52

 

Nikki Zamblera

 

Human Resources Director

Human Resources Executive

 

 

Biography:

Nikki joined Debenhams in 2004. From 2001 to 2004 she served as Vice President Human Resources Europe for Polo Ralph Lauren where she was also a director of each of PRLs European companies.

 

Richard Cristofoli

 

Marketing Director

Marketing Executive

 

 

Biography:

Richard Cristofoli joined Debenhams in March 2011 as Marketing Director responsible for our Advertising Loyalty Product Marketing Creative and PR functions.

 

Paul Munday

 

Technical Manager Networks

Engineering/Technical Executive

 

Jeff Banks

 

Designer

Other

 

Biography:

Jeff Banks founded both the Smirnoff Awards and Graduate Fashion Week in 1991 that plays host to 100 colleges and 800 students each year. Following that in 1996 Jeff conceived and launched The Clothes Show which regularly boasted an audience in excess of 9 million in Britain and 150 million on the World Service and revolutionized the way that fashion was presented on T.V.

 

N. Carter

 

Manager

Other

 

Ben De Lisi

 

Designer

Other

 

Biography:

Ben has been designing a diffusion line in conjunction with Debenhams called BDL by Ben de Lisi since 1997 which became one of the largest selling ranges under their Designers at Debenhams umbrella in its first season. In 2009 Ben launched his first homeware range for Debenhams called Ben de Lisi. The collection was inspired by the designers own home with the Ella cushion featuring a graphic print of one of Bens French Bulldogs becoming Debenhams fastest ever selling cushion.

 

Betty Jackson

 

Designer

Other

 

 

Biography:

Betty Jackson has become one of Britains most celebrated and best loved British designers. Lancashire born designer Betty demonstrated her unwavering creative vision from the very beginning of her design career. She studied at the Birmingham College of Fashion under Designer Zandra Rhodes and started her own career as a fashion illustrator during her final year of college. In 1973 Betty started her professional career working with Wendy Dagworthy and later went onto work for Quorum before setting up her own design company Betty Jackson Ltd with husband David Cohen in 1981. The range quickly gained recognition within the industry and Betty went on to open her flagship shop on the Brompton Road London in 1991. Betty has been showing at London Fashion Week for over 20 years she was awarded the 'British Designer of the Year award in 1985 and has received countless awards since including 'Designer of the Year again in 1999. Betty was also involved in the TV Show 'Absolutely Fabulous and created notorious costumes for the lead characters: Eddy and Patsy.

 

Julien Macdonald

 

Designer

Other

 

 

Biography:

Julien Macdonald nicknamed the King of Glamour grew up in South Wales. Taught to knit by his mother he was interested in design from a young age. After completing a fashion textiles degree at Brighton University he achieved a masters degree from the Royal College of Art in 1996. His work was soon noticed and among his many admirers were Karl Lagerfeld and the late Isabella Blow. Macdonald has become a key part of British fashion cementing his status by working alongside designers such as Karl Lagerfeld and Alexander McQueen in addition to landing the role of head designer at Givenchy in 2001. He has received numerous awards for his work as well as an OBE in 2006 for his services to fashion.

 

Janet Reger

 

Designer

Other

 

 

Biography:

Janet Reger is often dubbed the Queen of Luxury Lingerie and has been a name affiliated with beautiful underwear for decades. In 2007 the brand celebrated its 40th birthday and continues to go from strength to strength cementing its status as the place to go for exquisite underwear. Janet attended the Leicester College of Technology in 1953. At a time when underwear was simple in design and kept to black or white in colour Janet was designing co-ordinated sets in silks and satins. She had natural ability and flair to combine cut with cloth line with fit and style with practicality. In 1965 having spent time in Zurich working as a freelance designer Janet her husband Peter and their young daughter Aliza returned to London. Peter took samples of Janet's innovative designs to leading London department stores and orders began flooding in.

 

John Rocha

 

Designer

Other

 

 

Biography:

Born in Hong Kong and of Chinese and Portuguese descent John Rocha moved to London in the 1970s to study fashion. The choice of Irish linen for his graduate collection inspired his move to Dublin in the 1980s where he has lived for the past 30 years working closely with his wife and business partner Odette. Creating a relaxed and contemporary collection through a mixture of beautiful textures luxurious materials and exquisite embellishment John Rocha offers an easy approach to designer styling with a unique and distinctive twist for the wardrobe or home. In 1994 John was awarded the prestigious title of British Designer of the Year; and in 1997 the John Rocha at Waterford Crystal collection was launched. This range can be found on the Debenhams website and in store. In February 2002 in recognition of his long-standing contribution to the fashion industry John Rocha received a Commander of the British Empire (CBE) award from Her Majesty the Queen.

 

Eric Van Peterson

 

Designer

Other

 

 

Biography:

Eric Van Peterson has been designing fine jewellery for over 30 years. Working closely with his wife the couples signature style incorporates classic looks with modern graphics. The Van Peterson 925 range of elegant jewellery for women includes striking and uniquely designed necklaces earrings and bracelets.

 

Lisa Williams

 

Head

Other

 

 

Biography:

Lisa has been head of IR for department store group Debenhams since 2007. Prior to Debenhams she was head of IR for Rentokil Initial PLC from 2004 to 2007 and for Cookson Group PLC from 1999 to 2004. She first became involved in the IR world at Waste Management International PLC where she worked all the way from IPO to delisting from the Stock Exchange in seven years. Career 'highlights' include the Cookson non-underwritten rescue rights issue and the defence of the so-called 'phoney bid' from Gerry Robinson for Rentokil Initial. Lisa holds a law degree (LLB) from the University of London.

 

Matthew Williamson

 

Designer

Other

 

 

Biography:

Manchester born designer Matthew Williamson demonstrated his unwavering creative vision from the very beginning of his design career. Aged 18 he embarked on a Fashion Design course at the world famous Central St. Martins College in London. Graduating in 1994 his career in fashion began freelancing for Marni followed by a position designing at British high street store Monsoon. Matthews first collection debuted in 1997 at London Fashion Week. Entitled Electric Angels it was a unique and pioneering assortment of clothes that combined intricate beading and patterns with vibrant fabrics. Displaying the collection on a host of supermodels such as Kate Moss and Helena Christensen made Matthews first foray in to luxury fashion a resounding success. Along with the cultivation of his own label Matthew became creative director of Pucci in 2005. His love of exuberant patterns and fabrics made him the perfect match for the company. His celebrity following has continued to grow since his label launched with clients including Kate Moss Sienna Miller Sarah Jessica Parker and Madonna. His designs are credited with establishing the highly popular boho-chic trend of 2005.

 

 

Directors and Shareholders Report

 

Annual Return Date: 04 Jul 2012
Total Issued Capital (GBP 000): 44,625

 

Individual Directors

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Michael John Todkill
Sharp

Current

22 Mar 1957

91 Wimpole Street,
London , London W1G 0EF

31 Mar 2010

NA

Current:18
Previous:0
Disqualifications:0

 

Simon Edward
Herrick

Current

13 Jun 1963

2180 Century Way, Thorpe Park,
Leeds, West Yorkshire LS15 8ZB

10 Jan 2012

NA

Current:18
Previous:20
Disqualifications:0

 

David
Wilson

Previous

06 Jul 1960

7 Cleaver Square, Kennington,
London , London SE11 4DW

24 Mar 1998

13 Sep 1999

Current:2
Previous:53
Disqualifications:0

 

John Lee
Hoerner

Previous

23 Sep 1939

Hawling Lodge Hawling,
Cheltenham, Gloucestershire GL54 5SY

28 Jun 1992

14 Nov 1997

Current:3
Previous:10
Disqualifications:0

 

Richard Conway
North

Previous

20 Jan 1950

8 St.Simons Avenue, London,
Putney, London SW15 6DU

28 Jun 1992

01 Jul 1994

Current:2
Previous:24
Disqualifications:0

 

Peter Thomas
Kaursland

Previous

21 Jun 1943

The Springs Howe Road,
Thame, Oxfordshire OX9 5EL

28 Jun 1992

01 Feb 2002

Current:0
Previous:3
Disqualifications:0

 

Hugh Rowland
Bradley

Previous

30 May 1950

3 Platt Meadow,
Guildford, Surrey GU4 7EF

20 Jul 1998

27 Jan 2004

Current:2
Previous:3
Disqualifications:0

 

James William
Murphy

Previous

11 Mar 1947

Pheasants Copse, Rotherfield Greys,
Henley-On-Thames, Oxfordshire RG9 4QJ

01 Dec 1993

27 Jan 2004

Current:3
Previous:8
Disqualifications:0

 

Terence Anthony
Green

Previous

09 Oct 1951

Silverlands, Boars Head,
Crowborough, East Sussex TN6 3HE

28 Jun 1992

13 Sep 2000

Current:0
Previous:9
Disqualifications:0

 

Guy Antony
Johnson

Previous

10 Apr 1956

91 Wimpole Street,
London , London W1G 0EF

21 Feb 2000

04 Dec 2003

Current:5
Previous:48
Disqualifications:0

 

Jane Heather Ruth
Guillaume

Previous

25 Sep 1958

91 Wimpole Street,
London , London W1G 0EF

24 Mar 1998

04 Dec 2003

Current:0
Previous:7
Disqualifications:0

 

Edward Matthew Giles
Roberts

Previous

08 Aug 1963

12 Muncaster Road,
London , London SW11 6NT

01 May 1996

04 Dec 2003

Current:0
Previous:5
Disqualifications:0

 

Christopher Kevin
Woodhouse

Previous

27 Jun 1961

25 Chester Row, London,
London , London SW1W 9JF

04 Dec 2003

10 Jan 2012

Current:1
Previous:115
Disqualifications:0

 

Michael John
Sharp

Previous

22 Mar 1957

91 Wimpole Street,
London , London W1G 0EF

24 Mar 1998

04 Dec 2003

Current:0
Previous:3
Disqualifications:0

 

Peter Martyn
Betts

Previous

18 Oct 1960

4 Norwich Court,
Beverley, North Humberside HU17 8UJ

NA

28 Jun 1994

Current:1
Previous:2
Disqualifications:0

 

Andrew Thomas
Higginson

Previous

10 Jul 1957

New Tesco House, Delamare Road,
Waltham Cross, Hertfordshire EN8 9SL

NA

14 Nov 1997

Current:1
Previous:120
Disqualifications:0

 

Paul Beverley
Loft

Previous

28 Feb 1961

Bacton Grange, Rectory Road,
Stowmarket, Suffolk IP14 4LE

NA

01 May 1996

Current:4
Previous:8
Disqualifications:0

 

Ian Peter
Jackman

Previous

02 Aug 1946

Flat 11 Macready House, 75 Crawford Street,
London , London W1H 5LR

NA

14 Nov 1997

Current:12
Previous:86
Disqualifications:0

 

Philip Oliver
Wrigley

Previous

10 Nov 1952

Orchard House, Blenheim Hill,
Didcot, Oxfordshire OX11 0DS

NA

01 Dec 1993

Current:5
Previous:19
Disqualifications:0

 

Nigel Brian
Palmer

Previous

24 Jun 1959

91 Wimpole Street,
London , London W1G 0EF

01 Feb 2002

04 Dec 2003

Current:0
Previous:4
Disqualifications:0

 

Belinda Jane
Earl

Previous

20 Dec 1961

91 Wimpole Street,
London , London W1G 0EF

24 Mar 1998

04 Dec 2003

Current:0
Previous:2
Disqualifications:0

 

John David
Lovering

Previous

11 Oct 1949

75 Capital Wharf, High Street,
London , London E1W ILY

04 Dec 2003

31 Mar 2010

Current:5
Previous:93
Disqualifications:0

 

Robert William
Templeman

Previous

16 Oct 1957

91 Wimpole Street,
London , London W1G 0EF

04 Dec 2003

04 Sep 2011

Current:0
Previous:45
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

There are no corporate directors for this company.

 

 

Individual Secretaries

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Paul Rex
Eardley

Current

13 Sep 1960

91 Wimpole Street,
London , London W1G 0EF

15 Oct 2007

NA

Current:15
Previous:30
Disqualifications:0

 

Guy Antony
Johnson

Previous

10 Apr 1956

91 Wimpole Street,
London , London W1G 0EF

09 Feb 2004

15 Oct 2007

Current:5
Previous:48
Disqualifications:0

 

John
Hodges

Previous

23 Aug 1952

The Old Orchard Burney Road, Westhumble,
Dorking, Surrey RH5 6AU

01 Dec 1993

09 Feb 2004

Current:0
Previous:71
Disqualifications:0

 

Ian Peter
Jackman

Previous

02 Aug 1946

Flat 11 Macready House, 75 Crawford Street,
London , London W1H 5LR

NA

01 Dec 1993

Current:12
Previous:86
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

There are no corporate secretaries for this company.

 

 

Annual Profit & Loss

 

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

  Financial Glossary

 

 

 

01-Sep-2012

03-Sep-2011

28-Aug-2010

29-Aug-2009

30-Aug-2008

Period Length

52 Weeks

53 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.635419

0.623497

0.639819

0.642791

0.502804

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Turnover (UK)

3,179.3

3,252.5

3,057.4

2,883.1

3,488.2

Turnover (Exports)

0.0

0.0

0.0

0.0

0.0

Total Turnover

3,179.3

3,252.5

3,057.4

2,883.1

3,488.2

Cost of Sales

2,735.2

2,768.4

2,585.7

2,470.2

2,973.3

Gross Profit

444.1

484.0

471.7

412.9

514.9

Depreciation

110.2

111.3

115.0

124.5

15.9

Other Expenses

183.7

162.6

133.5

125.2

209.0

Operating Profit

-

-

-

287.7

-

Other Income

65.0

84.0

21.3

39.0

231.3

Interest Paid

23.6

62.1

0.0

0.0

88.9

Exceptional Income

0.0

-0.2

-0.5

0.0

0.0

Discontinued Operations

0.0

0.0

0.0

0.0

0.0

Profit Before Taxes

301.8

343.2

359.0

326.7

448.3

Tax Payable / Credit

79.6

77.3

95.3

79.7

122.7

Extraordinary Items/Debits

0.0

0.0

0.0

0.0

0.0

Dividends

2,045.9

240.6

187.6

186.7

188.9

Profit After Taxes

-1,823.7

25.3

76.1

60.4

136.6

Minority Interests (Profit & Loss)

0.0

0.0

0.0

0.0

0.0

Audit Fees

0.2

0.5

0.2

0.2

0.2

Non Audit Fees

0.5

0.2

0.3

0.2

0.4

Number of Employees

26,936

27,543

27,195

25,941

25,508

Wages

425.2

429.4

423.4

409.8

508.1

Social Security Costs

30.4

31.4

32.2

31.0

39.4

Pensions

-

-

0.0

-

-

Other Pension Costs

14.2

14.6

11.3

10.1

13.9

Employees Remuneration

469.8

475.4

466.9

450.8

561.5

Directors Emoluments

-

-

0.0

-

-

Other Costs

-

-

0.0

-

-

Directors Remuneration

-

-

0.0

-

-

Highest Paid Director

-

-

0.0

-

-

 




 

Annual Balance Sheet

Financials in: USD (mil)

 

  Financial Glossary

 

 

 

01-Sep-2012

03-Sep-2011

28-Aug-2010

29-Aug-2009

30-Aug-2008

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.63335

0.617093

0.646266

0.613083

0.548261

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Land & Buildings

116.7

-

119.8

152.7

174.6

Fixtures & Fittings

667.2

-

532.9

535.5

635.3

Plant & Vehicles

0.0

-

0.0

0.0

0.0

Total Tangible Fixed Assets

783.9

720.6

652.7

688.2

809.8

Intangible Assets

19.7

22.4

23.4

19.2

23.5

Investments

97.6

107.4

102.6

14.4

16.1

Total Fixed Assets

901.2

850.4

778.6

721.8

849.4

Stocks

474.0

471.4

-

-

-

Work in Progress

0.0

0.0

-

-

-

Total Stocks Work In Progress

474.0

471.4

417.3

414.1

405.1

Trade Debtors

35.4

34.2

27.2

34.9

24.1

Inter-Company Debtors

1,620.9

1,448.6

1,046.2

1,229.8

1,559.5

Other Debtors

60.2

56.7

50.1

55.1

62.2

Total Debtors

1,716.4

1,539.5

1,123.5

1,319.9

1,645.8

Cash and Equivalents

63.5

35.7

82.8

295.4

47.1

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

2,253.9

2,046.5

1,623.6

2,029.4

2,097.9

Total Assets

3,155.1

2,897.0

2,402.3

2,751.2

2,947.3

Trade Creditors

461.0

427.3

436.7

431.9

447.2

Bank Overdraft

11.1

10.2

-

-

0.0

Inter-Company Creditors

1,129.7

869.9

503.2

797.0

819.1

Hire Purchase (Current Liability)

0.0

0.0

0.0

0.0

0.0

Finance Lease (Current Liability)

3.6

1.6

0.5

5.9

6.4

Total Finance Lease/Hire Purchase (Current Liability)

3.6

1.6

0.5

5.9

6.4

Accruals/Deferred Income (Current Liability)

143.0

130.1

116.4

102.8

132.4

Social Security/VAT

39.9

34.2

39.9

31.3

39.4

Corporation Tax

34.9

40.2

32.6

40.1

37.0

Other Current Liabilities

99.6

114.1

65.5

67.9

79.7

Total Current Liabilities

1,923.0

1,627.6

1,194.7

1,476.8

1,561.3

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)

7.1

2.3

1.1

70.3

85.9

Total Hire Purchase Loans (Long Term Liability)

7.1

2.3

1.1

70.3

85.9

Other Long Term Loans

0.0

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

7.1

2.3

1.1

70.3

85.9

Deferred Taxation

-

32.7

44.4

24.5

59.1

Other Provisions

106.6

7.0

95.9

87.4

0.4

Total Provisions

106.6

39.7

140.3

111.9

59.5

Issued Capital

70.4

72.3

69.0

72.7

81.3

Share Premium Accounts

57.5

59.0

56.3

59.4

66.4

Revaluation Reserve

0.0

0.0

0.0

0.0

0.0

Retained Earnings

990.6

1,096.1

940.8

960.1

1,092.9

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

1,118.5

1,227.4

1,066.1

1,092.2

1,240.7

Net Worth

1,098.8

1,205.0

1,042.8

1,072.9

1,217.1

 



 

Annual Cash Flows

Financials in: USD (mil)

 

  Financial Glossary

 

 

 

01-Sep-2012

03-Sep-2011

28-Aug-2010

29-Aug-2009

30-Aug-2008

Period Length

52 Weeks

53 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.635419

0.623497

0.639819

0.642791

0.502804

Consolidated

No

No

No

No

No

 

 

 

 

 

 

 



 

Annual Ratios

Financials in: USD (mil)

 

 

 

01-Sep-2012

03-Sep-2011

28-Aug-2010

29-Aug-2009

30-Aug-2008

Period Length

52 Weeks

53 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.63335

0.617093

0.646266

0.613083

0.548261

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

1.17

1.26

1.36

1.37

1.34

Liquidity Ratio

0.93

0.97

1.01

1.09

1.08

Stock Turnover

6.73

6.84

7.25

7.30

7.90

Credit Period (Days)

4.05

3.87

3.28

4.21

2.75

Working Capital by Sales

10.38%

12.99%

14.17%

18.28%

16.77%

Trade Credit by Debtors

13.04

12.50

16.03

12.37

18.58

Return on Capital

24.58%

26.80%

29.43%

26.88%

29.66%

Return on Assets

9.60%

11.74%

14.80%

12.45%

13.95%

Profit Margin

9.49%

10.55%

11.74%

11.33%

12.85%

Return on Shareholders Funds

27.08%

27.72%

33.34%

31.36%

33.14%

Borrowing Ratio

104.80%

73.36%

48.40%

81.38%

74.88%

Equity Gearing

35.45%

42.37%

44.38%

39.70%

42.09%

Debt Gearing

0.65%

0.19%

0.10%

6.55%

7.06%

Interest Coverage

12.79

5.53

-

-

5.04

Sales by Tangible Assets

4.07

4.47

4.64

4.39

3.95

Average Remuneration per Employee

0.0

0.0

0.0

0.0

0.0

Profit per Employee

0.0

0.0

0.0

0.0

0.0

Sales per Employee

0.1

0.1

0.1

0.1

0.1

Capital Employed per Employee

0.0

0.0

0.0

0.0

0.1

Tangible Assets per Employee

0.0

0.0

0.0

0.0

0.0

Total Assets per Employee

0.1

0.1

0.1

0.1

0.1

Employee Remuneration by Sales

14.78%

14.62%

15.27%

15.64%

16.10%

Creditor Days (Cost of Sales Based)

61.32

56.84

62.26

60.87

59.86

Creditor Days (Sales Based)

52.76

48.38

52.65

52.15

51.03

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.58.94

UK Pound

1

Rs.90.47

Euro

1

Rs.77.86

 

 

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.