MIRA
INFORM REPORT
|
Report Date : |
09.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHALIMAR SHOES (UK) LTD. |
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Registered Office : |
Unit 1-2 The Mews, 2A Kempton Road, London, E6 2LD |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
16.03.2007 |
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Com. Reg. No.: |
06165390 |
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Legal Form : |
Private Parent Company |
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Line of Business : |
Retalling, mail order and wholesale distribution of footwear and
related products |
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No. of Employees : |
Not available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually 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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 third
largest economy in Europe after Germany and France. Over the past two decades,
the government has greatly reduced public ownership and contained the growth of
social welfare programs. Agriculture is intensive, highly mechanized, and
efficient by European standards, producing about 60% of food needs with less
than 2% of the labor force. The UK has large coal, natural gas, and oil
resources, but its oil and natural gas reserves are declining and the UK became
a net importer of energy in 2005. Services, particularly banking, insurance,
and business services, account by far for the largest proportion of GDP while
industry continues to decline in importance. After emerging from recession in
1992, Britain's economy enjoyed the longest period of expansion on record
during which time growth outpaced most of Western Europe. In 2008, however, the
global financial crisis hit the economy particularly hard, due to the
importance of its financial sector. Sharply declining home prices, high
consumer debt, and the global economic slowdown compounded Britain's economic
problems, pushing the economy into recession in the latter half of 2008 and
prompting the then BROWN (Labour) government to implement a number of measures
to stimulate the economy and stabilize the financial markets; these include
nationalizing parts of the banking system, temporarily cutting taxes,
suspending public sector borrowing rules, and moving forward public spending on
capital projects. Facing burgeoning public deficits and debt levels, in 2010
the CAMERON-led coalition government (between Conservatives and Liberal
Democrats) initiated a five-year austerity program, which aims to lower
London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In
November 2011, Chancellor of the Exchequer George OSBORNE announced additional
austerity measures through 2017 because of slower-than-expected economic growth
and the impact of the euro-zone debt crisis. The CAMERON government raised the
value added tax from 17.5% to 20% in 2011. It has pledged to reduce the
corporation tax rate to 23% by 2015. The Bank of England (BoE) implemented an
asset purchase program of up to £325 billion (approximately $525 billion) as of
February 2011. During times of economic crisis, the BoE coordinates interest
rate moves with the European Central Bank, but Britain remains outside the
European Economic and Monetary Union (EMU).
|
Source : CIA |
Company
name & address
Shalimar Shoes (UK) Ltd.
Unit 1-2 The Mews
2A Kempton Road
London, E6 2LD
United Kingdom
(Registered Address)
Tel: 0333 1238693
Synthesis
Employees: NA
Company Type: Private Parent
Corporate Family: 2
Companies
Quoted Status: Non-quoted Company
Incorporation Date:
16-Mar-2007
Auditor: J Raja & Co.
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2012
Reporting Currency: British
Pound Sterling
Annual Sales: NA
Total Assets: 5.2
Business
Description
Retalling, mail order and wholesale distribution of footwear and related
products.
Industry
Industry Apparel and Accessories
ANZSIC 2006: 371 - Textile,
Clothing and Footwear Wholesaling
NACE 2002: 5142 - Wholesale
of clothing and footwear
NAICS 2002: 4243 - Apparel,
Piece Goods, and Notions Merchant Wholesalers
UK SIC 2003: 5142 - Wholesale
of clothing and footwear
UK SIC 2007: 4642 - Wholesale
of clothing and footwear
US SIC 1987: 513 - Apparel,
Piece Goods, and Notions
Key Executives
|
Name |
Title |
|
Khuram Saleem |
Director |
|
Kamran Saleem |
Director |
|
Sheraz Saleem |
Director |
|
Shahida Saleem |
Director |
|
Mohammed Saleem |
Director |
Financial Summary
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FYE: 31-Mar-2012 |
USD (mil) |
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Registered No.(UK): 06165390
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6267523
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6281078
Corporate Overview
Location
Unit 1-2 The Mews
2A Kempton Road
London, E6 2LD
London County
United Kingdom
Tel: 0333 1238693
Sales GBP(mil): NA
Assets GBP(mil): 3.3
Employees: NA
Fiscal Year End: 31-Mar-2012
Industry: Apparel and Accessories
Incorporation Date: 16-Mar-2007
Company Type: Private Parent
Quoted Status: Not Quoted
Registered No.(UK): 06165390
Director: Khuram Saleem
Industry Codes
ANZSIC 2006 Codes:
371 - Textile, Clothing and Footwear Wholesaling
4279 - Other Store-Based Retailing Not Elsewhere Classified
NACE 2002 Codes:
5142 - Wholesale of clothing and footwear
5243 - Retail sale of footwear and leather goods
NAICS 2002 Codes:
4243 - Apparel, Piece Goods, and Notions Merchant Wholesalers
448 - Clothing and Clothing Accessories Stores
US SIC 1987:
513 - Apparel, Piece Goods, and Notions
59 - Miscellaneous Retail
UK SIC 2003:
5142 - Wholesale of clothing and footwear
5243 - Retail sale of footwear and leather goods
UK SIC 2007:
4642 - Wholesale of clothing and footwear
4772 - Retail sale of footwear and leather goods in specialised
stores
Business
Description
Retalling, mail order and wholesale distribution of footwear and related
products.
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%20LTD%20%20-%20213684%2009-Mar-2013_files/image001.gif){kind=small}
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Corporate
Family |
Corporate
Structure News: |
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Shalimar Shoes (UK) Ltd. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Shalimar Shoes (UK) Ltd. |
Parent |
London |
United Kingdom |
Apparel and Accessories |
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Unze Online (Uk) Ltd |
Subsidiary |
London |
United Kingdom |
Retail (Catalog and Mail Order) |
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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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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Directors and Shareholders Report
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Main Office Address: |
Tel: 0333
1238693 |
Annual Return Date: 16
Jun 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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Waqqas |
Current |
10 Feb 1987 |
Unit 1-2 The Mews, 2A Kempton Road, |
23 Jul 2012 |
NA |
Current:1 |
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|
Current |
01 Feb 1955 |
18 Plashet Road, Plaistow, |
25 Mar 2010 |
NA |
Current:4 |
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Current |
03 Sep 1962 |
18 Plashet Road, Plaistow, |
25 Mar 2010 |
NA |
Current:3 |
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Current |
19 Jan 1980 |
18 Plashet Road, |
16 Mar 2007 |
NA |
Current:6 |
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Current |
04 Aug 1981 |
18 Plashet Road, Plaistow, |
16 Mar 2007 |
NA |
Current:5 |
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Current |
03 Sep 1983 |
18 Plashet Road, Plaistow, |
18 Jun 2008 |
NA |
Current:2 |
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Previous |
01 Feb 1955 |
18 Plashet Road, Plaistow, |
18 Jun 2008 |
01 Mar 2010 |
Current:4 |
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Previous |
03 Sep 1962 |
18 Plashet Road, Plaistow, |
18 Jun 2008 |
01 Mar 2010 |
Current:3 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
|
Brighton Director Limited |
Previous |
3 Marlborough Road, Lancing Business Park, |
16 Mar 2007 |
26 Mar 2007 |
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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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Previous |
19 Jan 1980 |
18 Plashet Road, |
16 Mar 2007 |
01 Oct 2009 |
Current:6 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
|
Brighton Secretary Limited |
Previous |
3 Marlborough Road, Lancing Business Park, |
16 Mar 2007 |
26 Mar 2007 |
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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 |
|
Kamran Saleem |
425000 Ordinary GBP 1.00 |
Ordinary |
425,000 |
1.00 |
425,000.00 |
47.22 |
|
Khuram Saleem |
425000 Ordinary GBP 1.00 |
Ordinary |
425,000 |
1.00 |
425,000.00 |
47.22 |
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Sheraz Saleem |
50000 Ordinary GBP 1.00 |
Ordinary |
50,000 |
1.00 |
50,000.00 |
5.56 |
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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),
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
18 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.626752 |
0.643394 |
0.627794 |
0.592803 |
0.498361 |
|
Consolidated |
No |
No |
No |
No |
No |
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|
|
|
|
|
|
Total Turnover |
- |
- |
7.5 |
4.5 |
- |
|
Cost of Sales |
- |
- |
3.9 |
2.0 |
- |
|
Gross Profit |
- |
- |
3.5 |
2.5 |
- |
|
Depreciation |
0.1 |
0.0 |
0.0 |
0.0 |
- |
|
Other Expenses |
- |
- |
3.2 |
2.3 |
- |
|
Other Income |
- |
- |
0.0 |
0.0 |
- |
|
Interest Paid |
- |
- |
0.1 |
0.0 |
- |
|
Exceptional Income |
- |
- |
0.0 |
0.0 |
- |
|
Profit Before Taxes |
- |
- |
0.2 |
0.2 |
- |
|
Tax Payable / Credit |
- |
- |
0.1 |
0.0 |
- |
|
Extraordinary Items/Debits |
- |
- |
0.0 |
0.0 |
- |
|
Dividends |
- |
- |
0.0 |
0.0 |
- |
|
Profit After Taxes |
- |
- |
0.2 |
0.2 |
- |
|
Minority Interests (Profit & Loss) |
- |
- |
0.0 |
0.0 |
- |
|
Audit Fees |
- |
- |
0.0 |
- |
- |
|
Wages |
- |
- |
0.8 |
- |
- |
|
Social Security Costs |
- |
- |
0.0 |
- |
- |
|
Other Pension Costs |
- |
- |
0.0 |
0.0 |
- |
|
Employees Remuneration |
- |
- |
0.9 |
0.0 |
- |
|
Directors Remuneration |
- |
- |
0.1 |
0.1 |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.628108 |
0.62385 |
0.659239 |
0.697666 |
0.503145 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
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|
Land & Buildings |
- |
- |
0.0 |
0.0 |
0.0 |
|
Fixtures & Fittings |
- |
- |
0.1 |
0.0 |
0.0 |
|
Plant & Vehicles |
- |
- |
0.1 |
0.1 |
0.0 |
|
Total Tangible Fixed Assets |
1.7 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Intangible Assets |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Fixed Assets |
1.7 |
0.2 |
0.2 |
0.2 |
0.0 |
|
Stocks |
- |
- |
2.3 |
1.1 |
0.0 |
|
Work in Progress |
- |
- |
0.0 |
0.0 |
0.0 |
|
Total Stocks Work In Progress |
2.5 |
3.4 |
2.3 |
1.1 |
0.0 |
|
Trade Debtors |
- |
- |
0.7 |
0.6 |
0.0 |
|
Inter-Company Debtors |
- |
- |
- |
0.0 |
0.0 |
|
Director Loans |
- |
- |
- |
0.0 |
0.0 |
|
Other Debtors |
- |
- |
0.2 |
0.1 |
0.0 |
|
Total Debtors |
0.9 |
1.1 |
0.9 |
0.7 |
0.0 |
|
Cash and Equivalents |
0.1 |
0.1 |
0.3 |
0.5 |
0.0 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
3.5 |
4.6 |
3.5 |
2.3 |
0.0 |
|
Total Assets |
5.2 |
4.8 |
3.7 |
2.5 |
0.0 |
|
Trade Creditors |
- |
- |
1.6 |
0.9 |
0.0 |
|
Bank Overdraft |
- |
- |
0.1 |
0.0 |
0.0 |
|
Inter-Company Creditors |
- |
- |
- |
- |
0.0 |
|
Director Loans (Current Liability) |
- |
- |
0.3 |
0.0 |
0.0 |
|
Hire Purchase (Current Liability) |
- |
- |
- |
- |
0.0 |
|
Finance Lease (Current Liability) |
- |
- |
- |
- |
0.0 |
|
Total Finance Lease/Hire Purchase (Current Liability) |
- |
- |
- |
- |
0.0 |
|
Total Short Term Loans |
- |
- |
- |
- |
0.0 |
|
Accruals/Deferred Income (Current Liability) |
- |
- |
0.0 |
0.0 |
0.0 |
|
Social Security/VAT |
- |
- |
0.0 |
0.0 |
0.0 |
|
Corporation Tax |
- |
- |
0.1 |
0.0 |
0.0 |
|
Dividends (Current Liability) |
- |
- |
- |
- |
0.0 |
|
Other Current Liabilities |
2.4 |
2.9 |
0.1 |
0.0 |
0.0 |
|
Total Current Liabilities |
2.4 |
2.9 |
2.0 |
1.1 |
0.0 |
|
Group Loans (Long Term Liability) |
- |
- |
0.0 |
- |
0.0 |
|
Director Loans (Long Term Liability) |
- |
- |
0.0 |
- |
0.0 |
|
Hire Purchase (Long Term Liability) |
- |
- |
0.0 |
- |
0.0 |
|
Leasing (Long Term Liability) |
- |
- |
0.0 |
- |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
- |
- |
0.0 |
- |
0.0 |
|
Other Long Term Loans |
0.5 |
- |
0.0 |
0.6 |
0.0 |
|
Accruals/Deferred Income (Long Term Liability) |
- |
- |
0.0 |
0.0 |
0.0 |
|
Other Long Term Liabilities |
0.8 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Long Term Liabilities |
1.2 |
0.0 |
0.0 |
0.6 |
0.0 |
|
Deferred Taxation |
- |
- |
0.0 |
0.0 |
0.0 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Issued Capital |
1.4 |
1.4 |
1.4 |
0.7 |
0.0 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings |
0.1 |
0.4 |
0.3 |
0.1 |
0.0 |
|
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 |
1.6 |
1.9 |
1.7 |
0.9 |
0.0 |
|
Net Worth |
1.5 |
1.8 |
1.6 |
0.8 |
0.0 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
18 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.626752 |
0.643394 |
0.627794 |
0.592803 |
0.498361 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
Annual Ratios
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
18 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.628108 |
0.62385 |
0.659239 |
0.697666 |
0.503145 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
1.46 |
1.59 |
1.72 |
2.15 |
- |
|
Liquidity Ratio |
0.41 |
0.41 |
0.58 |
1.10 |
- |
|
Stock Turnover |
- |
- |
3.03 |
3.43 |
- |
|
Credit Period (Days) |
- |
- |
36.69 |
56.89 |
- |
|
Working Capital by Sales |
- |
- |
20.81% |
31.90% |
- |
|
Trade Credit by Debtors |
- |
- |
2.19 |
1.56 |
- |
|
Return on Capital |
- |
- |
13.43% |
11.06% |
- |
|
Return on Assets |
- |
- |
6.08% |
6.36% |
- |
|
Profit Margin |
- |
- |
3.19% |
4.14% |
- |
|
Return on Shareholders Funds |
- |
- |
13.49% |
18.54% |
- |
|
Borrowing Ratio |
30.56% |
- |
20.31% |
81.74% |
- |
|
Equity Gearing |
30.12% |
39.05% |
45.09% |
34.32% |
100.00% |
|
Debt Gearing |
30.56% |
- |
- |
76.09% |
- |
|
Interest Coverage |
- |
- |
2.87 |
- |
- |
|
Sales by Tangible Assets |
- |
- |
56.63 |
33.49 |
- |
|
Employee Remuneration by Sales |
- |
- |
11.60% |
0.13% |
- |
|
Creditor Days (Cost of Sales Based) |
- |
- |
152.66 |
195.77 |
- |
|
Creditor Days (Sales Based) |
- |
- |
80.25 |
88.57 |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.40 |
|
UK Pound |
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.71.24 |
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.