MIRA
INFORM REPORT
|
Report Date : |
19.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
PEACOCKS STORES LIMITED |
|
|
|
|
Formerly Known As : |
EWM (IP) LIMITED |
|
|
|
|
Registered Office : |
Waverley Mills, Langholm, Dumfriesshire , Dg13 0eb |
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|
|
|
Country : |
United Kingdom |
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|
|
|
Financials (as on) : |
25.02.2012 |
|
|
|
|
Date of Incorporation : |
19.05.2005 |
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|
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|
Com. Reg. No.: |
SC285031 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
To manage, maintain, protect, develop and
enhance the intellectual property of group companies |
|
|
|
|
No. of Employees : |
65 |
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 : |
Good |
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|
|
|
Payment Behaviour : |
No Complaints |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
United Kingdom - ECONOMIC OVERVIEW
The UK, a leading trading power and financial center, is the third
largest economy in Europe after Germany and France. Over the past two decades, the
government has greatly reduced public ownership and contained the growth of
social welfare programs. Agriculture is intensive, highly mechanized, and
efficient by European standards, producing about 60% of food needs with less
than 2% of the labor force. The UK has large coal, natural gas, and oil
resources, but its oil and natural gas reserves are declining and the UK became
a net importer of energy in 2005. Services, particularly banking, insurance,
and business services, account by far for the largest proportion of GDP while
industry continues to decline in importance. After emerging from recession in
1992, Britain's economy enjoyed the longest period of expansion on record
during which time growth outpaced most of Western Europe. In 2008, however, the
global financial crisis hit the economy particularly hard, due to the
importance of its financial sector. Sharply declining home prices, high
consumer debt, and the global economic slowdown compounded Britain's economic
problems, pushing the economy into recession in the latter half of 2008 and
prompting the then BROWN (Labour) government to implement a number of measures
to stimulate the economy and stabilize the financial markets; these include
nationalizing parts of the banking system, temporarily cutting taxes,
suspending public sector borrowing rules, and moving forward public spending on
capital projects. Facing burgeoning public deficits and debt levels, in 2010
the CAMERON-led coalition government (between Conservatives and Liberal
Democrats) initiated a five-year austerity program, which 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 |
REGISTERED NAME & COMPANY
SUMMARY
|
Company
Name |
PEACOCKS
STORES LIMITED |
Company
Number |
SC285031 |
|
Registered
Address |
WAVERLEY
MILLS |
Trading
Address |
Capital
Link, Windsor Road Cardiff CF24 5NG, United Kingdom |
|
|
LANGHOLM
|
|
|
|
|
DUMFRIESSHIRE |
|
|
|
|
DG13 0EB |
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|
|
Website Address |
|
|
|
|
Telephone Number |
01387380611 |
Fax Number |
|
|
TPS |
No |
FPS |
No |
|
Incorporation Date |
19/05/2005 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
EWM (IP) LIMITED |
Type |
Private limited with Share Capital |
|
Date of Change |
29/02/2012 |
Filing Date of Accounts |
27/11/2012 |
|
|
|
Share Capital |
£5,000,000 |
|
SIC03 |
7487 |
Currency |
GBP |
|
SIC03 Description |
OTHER BUSINESS ACTIVITIES |
||
|
SIC07 |
82990 |
||
|
SIC07 Description |
OTHER BUSINESS SUPPORT SERVICE ACTIVITIES N.E.C.
|
||
|
Principal Activity |
To manage, maintain, protect, develop and
enhance the intellectual property of group companies. |
||
DIRECTORS/MANAGEMENT
|
Total Current Directors |
4 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company
Secretaries |
4 |
Current Directors
|
Name |
Date of Birth |
25/10/1965 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
28 |
Function |
Director |
|
Appointment Date |
19/08/2005 |
|
|
|
Address |
Hayton Hall, Edmund Castle Estate, Corby
Hill, Carlisle, Cumbria, CA4 8QD |
||
|
|
|
|
|
|
Disqualified |
|
Disqualified End Date |
|
|
Disqualification Exception |
No |
|
|
|
Name |
Date of Birth |
13/05/1974 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
63 |
Function |
Director |
|
Appointment Date |
04/01/2012 |
|
|
|
Address |
The Edinburgh Woollen Mill Ltd, Waverley Mills,
Langholm, Dumfriesshire, DG13 0EB |
||
|
|
|
|
|
|
Disqualified |
|
Disqualified End Date |
|
|
Disqualification Exception |
No |
|
|
|
Name |
Date of Birth |
09/08/1968 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
17/02/2012 |
|
|
|
Address |
The Edinburgh Woollen Mill Ltd, Waverley
Mills, Langholm, Dumfriesshire, DG13 0EB |
||
|
|
|
|
|
|
Disqualified |
|
Disqualified End Date |
|
|
Disqualification Exception |
No |
|
|
|
Name |
Date of Birth |
14/10/1962 |
|
|
Officers Title |
Mrs |
Nationality |
British |
|
Present Appointments |
6 |
Function |
Director |
|
Appointment Date |
17/02/2012 |
|
|
|
Address |
Waverley Mills, Langholm, Dumfriesshire,
DG13 0EB |
||
|
|
|
|
|
|
Disqualified |
|
Disqualified End Date |
|
|
Disqualification Exception |
No |
|
|
NEGATIVE INFORMATION
Commentary
|
No exact match CCJs are recorded against
the company. |
|
|
The credit limit on this company has risen
235% in comparison to the previously suggested credit limit. |
|
|
There is insufficient data to indicate a
change in this companies percentage of sales. |
|
|
Net Worth decreased by 98% during the
latest trading period. |
|
|
A 73.7% growth in Total Assets occurred
during the latest trading period. |
|
|
Pre-tax profits increased by 294.5%
compared to the previous trading period. |
|
|
The audit report contains no adverse
comments. |
|
|
The company has undergone recent changes in
its directorships. |
|
|
The company is part of a group. |
|
|
The company has changed its registered name
recently. |
|
|
The company was established over 7 years
ago. |
|
CCJ
|
Total Number of Exact CCJs - |
Total Value of Exact CCJs - |
|
|
|
Total Number of Possible CCJs - |
Total Value of Possible CCJs - |
|
|
|
Total Number of Satisfied CCJs - |
Total Value of Satisfied CCJs - |
|
|
|
Total Number of Writs - |
- |
|
|
Exact CCJ Details
There are no exact CCJ details
Possible CCJ Details
There are no possible CCJ details
Writ Details
There are no writ details
SHARE & SHARE CAPITAL
INFORMATION
Top 20 Shareholders
|
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
|
EWM (TOPCO) LTD |
GBP |
5,000,000 |
ORDINARY |
1 |
100 |
PAYMENT INFORMATION
Payment Information Summary
|
Days Beyond Terms |
Trend Indicator |
Average Payment Experience |
|
||||
|
Steady Improving Worsening |
Be the first to leave a payment experience
|
|
GROUP STRUCTURE & AFFILIATED
COMPANIES
Statistics
|
Group |
62 companies |
|
Linkages |
|
|
Countries |
Summary
|
Holding Company |
EWM (TOPCO) LIMITED |
|
Ownership Status |
Wholly Owned |
|
Ultimate Holding Company |
THE EDINBURGH WOOLLEN MILL (GROUP) LIMITED |
FINANCIAL INFORMATION
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
25/02/2012 |
£2,578,000 |
£710,000 |
£6,169,000 |
65 |
|
26/02/2011 |
- |
-£365,000 |
£5,815,000 |
- |
|
27/02/2010 |
£4,331,000 |
£1,303,000 |
£6,071,000 |
- |
Profit & Loss
|
Date Of Accounts |
25/02/12 |
(%) |
26/02/11 |
(%) |
27/02/10 |
(%) |
28/02/09 |
(%) |
01/03/08 |
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
53 |
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
Consolidated A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
Turnover |
£2,578,000 |
- |
- |
-100% |
£4,331,000 |
-0.6% |
£4,358,000 |
-20.5% |
£5,482,000 |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost of Sales |
£1,325,000 |
999.9% |
£53,000 |
-98% |
£2,698,000 |
3.5% |
£2,607,000 |
-1.4% |
£2,644,000 |
|
Gross Profit |
£1,253,000 |
999.9% |
-£53,000 |
-103.2% |
£1,633,000 |
-6.7% |
£1,751,000 |
-38.3% |
£2,838,000 |
|
Wages & Salaries |
£175,000 |
- |
- |
- |
- |
- |
- |
- |
- |
|
Directors Emoluments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating Profit |
£794,000 |
835.2% |
-£108,000 |
-106.9% |
£1,576,000 |
-7.2% |
£1,698,000 |
-40.1% |
£2,836,000 |
|
Depreciation |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Audit Fees |
£3,000 |
50% |
£2,000 |
- |
£2,000 |
- |
£2,000 |
- |
£2,000 |
|
Interest Payments |
£84,000 |
-67.3% |
£257,000 |
-5.9% |
£273,000 |
-59.2% |
£669,000 |
-35.3% |
£1,034,000 |
|
Pre Tax Profit |
£710,000 |
294.5% |
-£365,000 |
-128% |
£1,303,000 |
26.6% |
£1,029,000 |
-42.9% |
£1,802,000 |
|
Taxation |
-£356,000 |
-426.6% |
£109,000 |
108.5% |
-£1,289,000 |
-28% |
-£1,007,000 |
23.5% |
-£1,317,000 |
|
Profit After Tax |
£354,000 |
238.3% |
-£256,000 |
-999.9% |
£14,000 |
-36.4% |
£22,000 |
-95.5% |
£485,000 |
|
Dividends Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Retained Profit |
£354,000 |
238.3% |
-£256,000 |
-999.9% |
£14,000 |
-36.4% |
£22,000 |
-95.5% |
£485,000 |
Balance Sheet
|
Date Of Accounts |
25/02/12 |
(%) |
26/02/11 |
(%) |
27/02/10 |
(%) |
28/02/09 |
(%) |
01/03/08 |
|
Tangible Assets |
£2,000,000 |
- |
0 |
-100% |
£14,650,000 |
999.9% |
£223,000 |
- |
0 |
|
Intangible Assets |
£6,069,000 |
733.7% |
£728,000 |
-12.7% |
£834,000 |
-95.4% |
£17,942,000 |
-12% |
£20,398,000 |
|
Total Fixed Assets |
£8,069,000 |
999.9% |
£728,000 |
-95.3% |
£15,484,000 |
-14.8% |
£18,165,000 |
-10.9% |
£20,398,000 |
|
Stock |
£12,151,000 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Trade Debtors |
£54,000 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Cash |
£5,255,000 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Debtors |
£1,270,000 |
-91.4% |
£14,704,000 |
- |
0 |
- |
0 |
-100% |
£740,000 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
£18,730,000 |
27.4% |
£14,704,000 |
- |
0 |
- |
0 |
-100% |
£740,000 |
|
Trade Creditors |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Bank Loans & Overdrafts |
£48,000 |
-99.5% |
£9,575,000 |
9.5% |
£8,745,000 |
-26.5% |
£11,905,000 |
-18.5% |
£14,600,000 |
|
Other Short Term Finance |
£19,145,000 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Liabilities |
£1,436,000 |
999.9% |
£42,000 |
-93.7% |
£668,000 |
229.1% |
£203,000 |
-59.6% |
£503,000 |
|
Total Current Liabilities |
£20,629,000 |
114.5% |
£9,617,000 |
2.2% |
£9,413,000 |
-22.3% |
£12,108,000 |
-19.8% |
£15,103,000 |
|
Bank Loans & Overdrafts and LTL |
£49,000 |
-99.5% |
£9,575,000 |
9.5% |
£8,745,000 |
-26.5% |
£11,905,000 |
-18.5% |
£14,600,000 |
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Long Term Liabilities |
£1,000 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
Capital & Reserves
|
Date Of Accounts |
25/02/12 |
(%) |
26/02/11 |
(%) |
27/02/10 |
(%) |
28/02/09 |
(%) |
01/03/08 |
|
Called Up Share Capital |
£5,000,000 |
- |
£5,000,000 |
- |
£5,000,000 |
- |
£5,000,000 |
- |
£5,000,000 |
|
P & L Account Reserve |
£1,169,000 |
43.4% |
£815,000 |
-23.9% |
£1,071,000 |
1.3% |
£1,057,000 |
2.1% |
£1,035,000 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£6,169,000 |
6.1% |
£5,815,000 |
-4.2% |
£6,071,000 |
0.2% |
£6,057,000 |
0.4% |
£6,035,000 |
Other Financial Items
|
Date Of Accounts |
25/02/12 |
(%) |
26/02/11 |
(%) |
27/02/10 |
(%) |
28/02/09 |
(%) |
01/03/08 |
|
Net Worth |
£100,000 |
-98% |
£5,087,000 |
-2.9% |
£5,237,000 |
144.1% |
-£11,885,000 |
17.3% |
-£14,363,000 |
|
Working Capital |
-£1,899,000 |
-137.3% |
£5,087,000 |
154% |
-£9,413,000 |
22.3% |
-£12,108,000 |
15.7% |
-£14,363,000 |
|
Total Assets |
£26,799,000 |
73.7% |
£15,432,000 |
-0.3% |
£15,484,000 |
-14.8% |
£18,165,000 |
-14.1% |
£21,138,000 |
|
Total Liabilities |
£20,630,000 |
114.5% |
£9,617,000 |
2.2% |
£9,413,000 |
-22.3% |
£12,108,000 |
-19.8% |
£15,103,000 |
|
Net Assets |
£6,169,000 |
6.1% |
£5,815,000 |
-4.2% |
£6,071,000 |
0.2% |
£6,057,000 |
0.4% |
£6,035,000 |
Miscellaneous
|
Date Of Accounts |
25/02/12 |
(%) |
26/02/11 |
(%) |
27/02/10 |
(%) |
28/02/09 |
(%) |
01/03/08 |
|
Contingent Liability |
YES |
- |
YES |
- |
YES |
- |
YES |
- |
YES |
|
Capital Employed |
£6,170,000 |
6.1% |
£5,815,000 |
-4.2% |
£6,071,000 |
0.2% |
£6,057,000 |
0.4% |
£6,035,000 |
|
Number of Employees |
65 |
- |
- |
- |
- |
- |
- |
- |
- |
|
Auditors |
KPMG LLP |
||||||||
|
Auditor Comments |
The audit report contains no adverse
comments |
||||||||
|
Bankers |
BARCLAYS BANK PLC |
||||||||
|
Bank Branch Code |
20-48-46 |
||||||||
Ratios
|
Date Of Accounts |
25/02/12 |
26/02/11 |
27/02/10 |
28/02/09 |
01/03/08 |
|
Pre-tax profit margin % |
27.54 |
- |
30.09 |
23.61 |
32.87 |
|
Current ratio |
0.91 |
1.53 |
- |
- |
0.05 |
|
Sales/Net Working Capital |
-1.36 |
- |
-0.46 |
-0.36 |
-0.38 |
|
Gearing % |
0.80 |
164.70 |
144 |
196.50 |
241.90 |
|
Equity in % |
29.80 |
39.50 |
41.40 |
2716.10 |
815.50 |
|
Creditor Days |
- |
- |
- |
- |
- |
|
Debtor Days |
7.62 |
- |
- |
- |
- |
|
Liquidity/Acid Test |
0.31 |
1.52 |
- |
- |
0.04 |
|
Return On Capital Employed % |
11.50 |
-6.27 |
21.46 |
16.98 |
29.85 |
|
Return On Total Assets Employed % |
2.64 |
-2.36 |
8.41 |
5.66 |
8.52 |
|
Current Debt Ratio |
3.34 |
1.65 |
1.55 |
1.99 |
2.50 |
|
Total Debt Ratio |
3.34 |
1.65 |
1.55 |
1.99 |
2.50 |
|
Stock Turnover Ratio % |
471.33 |
- |
- |
- |
- |
|
Return on Net Assets Employed % |
11.50 |
-6.27 |
21.46 |
16.98 |
29.85 |
ADDITIONAL INFORMATION
Mortgage Summary
|
Outstanding |
2 |
|
Satisfied |
2 |
Current Company Secretary
|
Name |
Date of Birth |
21/06/1964 |
|
|
Officers Title |
Ms |
Nationality |
British |
|
Present Appointments |
133 |
Function |
Company Secretary |
|
Appointment Date |
19/08/2005 |
|
|
|
Address |
Burnside House Maxwell Place, Langholm, Dumfriesshire,
DG13 0DY |
||
|
|
|
|
|
|
Disqualified |
|
Disqualified End Date |
|
|
Disqualification Exception |
No |
|
|
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
03/12/2012 |
New Accounts Filed |
|
03/12/2012 |
New Accounts Filed |
|
07/09/2012 |
Mr D.O. Houston has left the board |
|
15/06/2012 |
Annual Returns |
|
22/03/2012 |
New Board Member Mr D.O. Houston appointed |
|
13/03/2012 |
New Board Member Mr D.O. Houston appointed |
|
02/03/2012 |
Change of Name |
|
28/02/2012 |
New Board Member Mrs C. Leigh appointed |
|
23/02/2012 |
Mr D.O. Houston has left the board |
|
21/02/2012 |
New Board Member Mr S.R. Simpson appointed |
|
21/02/2012 |
New Board Member Mrs C. Leigh appointed |
|
24/01/2012 |
New Board Member Mr K.B. Lee appointed |
|
03/12/2011 |
New Accounts Filed |
|
25/05/2011 |
Annual Returns |
|
27/11/2010 |
New Accounts Filed |
Previous Company Names
|
Date |
Previous Name |
|
29/02/2012 |
EWM (IP) LIMITED |
|
22/08/2005 |
PACIFIC SHELF 1316 LIMITED |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
UK Pound |
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.70.01 |
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.