MIRA INFORM REPORT
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Report Date : |
25.03.2013 |
IDENTIFICATION DETAILS
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Name : |
H M HOSIERY LTD. |
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Registered Office : |
Regent House 80 Regent Road, Leicester, LE1 7NH |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
05.10.2004 |
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Com. Reg. No.: |
05250152 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Wholesale trade, except of motor vehicle |
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No. of Employees : |
15 |
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 |
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Litigation : |
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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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 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).
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Source : CIA |
Company name & address
H M Hosiery Ltd.
Unit 28c
Centurion Way
Meridian Business Park
Leicester, LE19 1WH
United Kingdom
Tel: 0116 263 9920
Fax: 0116 263 0030
Web: www.hmhoisery.com
Synthesis
Employees: 15
Company Type: Private Independent
Quoted Status: Non-quoted Company
Incorporation Date:
05-Oct-2004
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2012
Reporting Currency: British
Pound Sterling
Annual Sales: NA
Total Assets: 1.0
Business Description
Wholesale trade, except of motor vehicle
Industry
Industry Apparel and Accessories
ANZSIC 2006: 3711 - Textile
Product Wholesaling
NACE 2002: 5141 - Wholesale
of textiles
NAICS 2002: 424310 - Piece
Goods, Notions, and Other Dry Goods Merchant Wholesalers
UK SIC 2003: 5141 - Wholesale
of textiles
UK SIC 2007: 4641 - Wholesale
of textiles
US SIC 1987: 5131 - Piece
Goods, Notions, and Other Dry Good
Key Executives
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Name |
Title |
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Kirstyanne Mokha |
Director |
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Manmeet Kaur Thiara |
Production Manager |
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Harmail Singh Mokha |
Director |
News
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Financial Summary
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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 28c
Centurion Way
Meridian Business Park
Leicester, LE19 1WH
Leicestershire County
United Kingdom
Tel: 0116 263 9920
Fax: 0116 263 0030
Web: www.hmhoisery.com
Sales GBP(mil): NA
Assets GBP(mil): 0.6
Employees: 15
Fiscal Year End: 31-Mar-2012
Industry: Apparel
and Accessories
Registered
Address:
Regent House 80 Regent Road
Leicester, LE1 7NH
United Kingdom
Incorporation Date: 05-Oct-2004
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(UK): 05250152
Production Manager: Manmeet
Kaur Thiara
Industry Codes
ANZSIC 2006 Codes:
3711 - Textile Product Wholesaling
NACE 2002 Codes:
5141 - Wholesale of textiles
NAICS 2002 Codes:
424310 - Piece Goods, Notions, and Other Dry Goods Merchant
Wholesalers
US SIC 1987:
5131 - Piece Goods, Notions, and Other Dry Good
UK SIC 2003:
5141 - Wholesale of textiles
UK SIC 2007:
4641 - Wholesale of textiles
Business
Description
Wholesale trade, except of motor vehicle
More Business
Descriptions
Hosiery Manufacturers and Wholesale
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Executive report
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Board of
Directors |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Production Manager |
Director/Board Member |
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Executives |
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Director |
Company Secretary |
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Production Manager |
Manufacturing Executive |
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Directors and Shareholders Report
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Main Office Address: |
Tel: 0116
263 9920 |
Annual Return Date: 05
Oct 2012 |
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
17 Jul 1970 |
8 Balmoral Close, Knighton, |
20 Oct 2004 |
NA |
Current:3 |
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Current |
23 Jan 1969 |
Lion House Stoughton Lodge Farm, Stoughton Lane, |
05 Oct 2004 |
NA |
Current:3 |
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Corporate Directors |
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There are no corporate directors for this company. |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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Current |
NA |
Lion House Stoughton Lodge Farm, Stoughton Lane, |
05 Oct 2004 |
NA |
Current:2 |
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Corporate Secretaries |
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There are no corporate secretaries for this company. |
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Individual Shareholders |
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Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
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Harmail Singh Mokha |
55 Ordinary GBP 1.00 |
Ordinary |
55 |
1.00 |
55.00 |
57.89 |
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Manmeet Kaur Thiara |
40 Ordinary GBP 1.00 |
Ordinary |
40 |
1.00 |
40.00 |
42.11 |
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Corporate Shareholders |
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There are no corporate shareholders for this company. |
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Annual Profit & Loss
Financials in: USD (mil),
Except for share items (millions) and per share items (actual units),
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31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate
(Period Average) |
0.626752 |
0.643394 |
0.627794 |
0.592803 |
0.498361 |
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Consolidated |
No |
No |
No |
No |
No |
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Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Annual Balance Sheet
Financials in: USD (mil)
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31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate |
0.628108 |
0.62385 |
0.659239 |
0.697666 |
0.503145 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Tangible Fixed Assets |
0.1 |
0.1 |
0.1 |
0.1 |
0.2 |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
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Total Fixed Assets |
0.1 |
0.1 |
0.2 |
0.2 |
0.3 |
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Total Stocks |
0.0 |
0.3 |
0.2 |
0.3 |
0.3 |
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Trade Debtors |
0.6 |
0.7 |
0.6 |
0.3 |
0.8 |
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Cash and Equivalents |
0.1 |
0.1 |
0.0 |
0.0 |
0.4 |
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Other Current Assets |
0.2 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
0.9 |
1.0 |
0.8 |
0.6 |
1.5 |
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Total Assets |
1.0 |
1.2 |
1.0 |
0.8 |
1.7 |
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Trade Creditors |
1.0 |
1.2 |
0.9 |
0.7 |
1.6 |
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Bank Overdraft |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Bank Loan Overdrafts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Short Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Current Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Working Capital |
-0.2 |
-0.1 |
-0.1 |
-0.1 |
-0.2 |
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Total Long Term Loans |
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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Issued Capital |
0.0 |
- |
- |
- |
- |
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Retained Earnings |
-0.1 |
0.0 |
0.1 |
0.1 |
0.1 |
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Total Reserve |
-0.1 |
0.0 |
0.1 |
0.1 |
0.1 |
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Total Shareholders Funds |
-0.1 |
0.0 |
0.1 |
0.1 |
0.1 |
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Net Worth |
-0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
Annual Cash Flows
Financials in: USD (mil)
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31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate
(Period Average) |
0.626752 |
0.643394 |
0.627794 |
0.592803 |
0.498361 |
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Consolidated |
No |
No |
No |
No |
No |
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Paid Up Equity |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Annual Ratios
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31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
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Filed Currency |
- |
- |
- |
- |
- |
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Exchange Rate |
- |
- |
- |
- |
- |
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Consolidated |
No |
No |
No |
No |
No |
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Current Ratio |
0.82 |
0.89 |
0.93 |
0.84 |
0.91 |
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Liquidity Ratio |
0.80 |
0.67 |
0.66 |
0.46 |
0.69 |
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Solvency Ratio |
-9.43% |
-0.80% |
7.51% |
6.97% |
5.42% |
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Current Debt Ratio |
-11.55 |
-124.55 |
12.15 |
13.07 |
17.24 |
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Long Term Debt Ratio |
-0.07 |
-6.04 |
0.14 |
0.21 |
0.18 |
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Total Debt Ratio |
-11.61 |
-125.41 |
12.31 |
13.34 |
17.46 |
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Debt Asset Ratio |
108.83% |
100.11% |
91.28% |
91.15% |
93.38% |
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Working Finance |
14,908.64% |
12,921.23% |
7,009.70% |
4,078.59% |
7,041.29% |
|
Stock Financing |
-0.12 |
-1.97 |
-3.62 |
-2.34 |
-2.28 |
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Fixed Asset Investment |
0.11 |
0.11 |
0.15 |
0.23 |
0.15 |
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Shareholder Liquidity |
-15.72 |
-1.17 |
6.23 |
3.72 |
4.50 |
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Stock to Total Assets |
4,244.41% |
460.86% |
408.27% |
291.72% |
503.40% |
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Financial Strength Ratio |
1.56 |
0.71 |
1.74 |
1.57 |
1.82 |
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Reserve Movement |
850.07% |
-112.06% |
35.81% |
-23.09% |
1,325.04% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
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UK Pound |
1 |
Rs.82.56 |
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Euro |
1 |
Rs.70.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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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.