MIRA INFORM REPORT

 

 

Report Date :

04.10.2013

 

IDENTIFICATION DETAILS

 

Name :

OUTDOOR LEISUREWEAR LTD.

 

 

Registered Office :

Unit 2 , Trafalgar Business Park, Broughton Lane , Manchester, M8 9TZ

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.01.2012

 

 

Date of Incorporation :

09.09.1991

 

 

Com. Reg. No.:

02643945

 

 

Legal Form :

Private Parent

 

 

Line of Business :

Wholesale of Clothing and Apparel

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Slow

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

 

 

UK - 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 & address

 

OUTDOOR LEISUREWEAR LTD.

                                                                                                                                                                

 

Unit 2

Trafalgar Business Park

Broughton Lane

Manchester, M8 9TZ

United Kingdom

(Trading Address)
Tel:       01618342246

Fax:     01618349002

 www.outdoorleisurewear.co.uk

 

 

synthesis

 

Employees:                   NA

Company Type:             Private Parent

Quoted Status:              Non-quoted Company

Incorporation Date:         09-Sep-1991

Auditor:                         Lopian Gross Barnett & Co

Financials in:                 USD (mil)

Fiscal Year End:            31-Jan-2012

Reporting Currency:       British Pound Sterling

Annual Sales:                NA

Total Assets:                 2.0

 

 

 Business Description

             

 

With over 37 years trading experience, Outdoor Leisurewear Ltd has established itself as a successful and recognised supplier for both branded and contract outdoor clothing ranges. Arctic Storm and Klassik are available in ladies, men's and children's ranges where the emphasis is always on product quality, offering a variety of fabrics, short lead times and extremely competitive prices. We construct garments in streamlined good looking silhouettes that are totally modern and flattering. We take pride in our top quality workmanship. We are committed to customer relations with a fast and friendly team always ready to meet your requirements.

 

 

Industry

 

 

Industry                 Clothing and Apparel Wholesale

ANZSIC 2006:        371 - Textile, Clothing and Footwear Wholesaling

ISIC Rev 4:            4641 - Wholesale of textiles, clothing and footwear

NACE Rev 2:         4642 - Wholesale of clothing and footwear

NAICS 2012:          4243 - Apparel, Piece Goods, and Notions Merchant Wholesalers

UK SIC 2007:         4642 - Wholesale of clothing and footwear

US SIC 1987:         513 - Apparel, Piece Goods, and Notions

 

                           

Key Executives   

   

 

Name

Title

 

Bhupinder Nath Mehan

Secretary

 

Preeti Mehan

Director

 

Saroj Kanta Mehan

Director

 

Ajay Kumar Mehan

Director

 

 

 

News

 

 

 

 

Title

Date

Retail sector boosted by warm weather
Big News Network (96 Words)

9-Aug-2013

 

 

 

Financial Summary

 

 

 

 

FYE: 31-Jan-2012

USD (mil)

Key Figures

 

Current Assets

1.97

Fixed Assets

0.04

Total Liabilities

0.26

Net Worth

1.76

 

Key Ratios

 

Current Ratio

7.62

Acid Test

3.12

 

 

 

 

Registered No.(UK):02643945

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6246957
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6375173

 

 

 

Corporate Overview

Location
Unit 2
Trafalgar Business Park
Broughton Lane
Manchester, M8 9TZ
Greater Manchester County
United Kingdom

 

Tel:

01618342246

Fax:

01618349002

 

www.outdoorleisurewear.co.uk

Sales GBP(mil):

NA

Assets GBP(mil):

1.3

Employees:

NA

Fiscal Year End:

31-Jan-2012

 

 

 

Industry:

Apparel and Accessories

Registered Address:
Unit 2, Trafalgar Business Par
Broughton Lane
Manchester, M8 9TZ
United Kingdom

 

Incorporation Date:

09-Sep-1991

Company Type:

Private Parent

Quoted Status:

Not Quoted

Registered No.(UK):

02643945

 

Director:

Saroj Kanta Mehan

 

Industry Codes

 

ANZSIC 2006 Codes:

371

-

Textile, Clothing and Footwear Wholesaling

 

ISIC Rev 4 Codes:

4641

-

Wholesale of textiles, clothing and footwear

 

NACE Rev 2 Codes:

4642

-

Wholesale of clothing and footwear

 

NAICS 2012 Codes:

4243

-

Apparel, Piece Goods, and Notions Merchant Wholesalers

 

US SIC 1987:

513

-

Apparel, Piece Goods, and Notions

 

UK SIC 2007:

4642

-

Wholesale of clothing and footwear

 

Business Description

 

Wholesale of clothing and footwear.

 

 

More Business Descriptions

 

With over 37 years trading experience, Outdoor Leisurewear Ltd has established itself as a successful and recognised supplier for both branded and contract outdoor clothing ranges. Arctic Storm and Klassik are available in ladies, men's and children's ranges where the emphasis is always on product quality, offering a variety of fabrics, short lead times and extremely competitive prices. We construct garments in streamlined good looking silhouettes that are totally modern and flattering. We take pride in our top quality workmanship. We are committed to customer relations with a fast and friendly team always ready to meet your requirements.

 

 

 

 

 

Financial Data

 

Financials in:

GBP(mil)

 

Assets:

1.3

Current Assets:

1.3

 

Fixed Assets:

0.0

 

Long Term Debt:

0.0

 

Total Liabilities:

0.2

 

Issued Capital:

0.0

 

Working Capital:

1.1

 

Net Worth:

1.1

 

 

 

Date of Financial Data:

31-Jan-2012

 

1 Year Growth

NA

 

Key Corporate Relationships

 

Auditor:

Lopian Gross Barnett & Co

 

Auditor:

Lopian Gross Barnett & Co

 

Auditor History

Lopian Gross Barnett & Co

31-Jan-2012

F Shahvary & Co

31-Jan-2011

F Shahvary And Co

31-Jan-2010

F Shahvary And Co

31-Jan-2009

F Shahvary And Co

31-Jan-2008

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Executives Report

 

Board of Directors

 

Name

Title

Function

 

Saroj Kanta Mehan

 

Director

Director/Board Member

 

Age: 67

 

Preeti Mehan

 

Director

Director/Board Member

 

 

Age: 38

 

Ajay Kumar Mehan

 

Director

Director/Board Member

 

 

Age: 44

 

 

Executives

 

Name

Title

Function

 

Bhupinder Nath Mehan

 

Secretary

Company Secretary

 

Age: 72

 

 

 

Directors and Shareholders Report

 

Main Office Address:
Unit 2
Trafalgar Business Park
Manchester
United Kingdom M8 9TZ

Tel: 01618342246
Fax: 01618349002
URL: http://www.outdoorleisurewear.co.uk

Annual Return Date: 09 Sep 2012
Total Issued Capital (GBP 000): 12

 

Individual Directors

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Preeti
Mehan

Current

21 Jan 1975

3 Meddings Close,
Wilmslow, Cheshire SK9 7XA

25 Apr 1994

NA

Current:1
Previous:0
Disqualifications:0

 

Ajay Kumar
Mehan

Current

06 Jan 1969

3 Meddings Close,
Wilmslow, Cheshire SK9 7XA

09 Sep 1991

NA

Current:1
Previous:0
Disqualifications:0

 

Saroj Kanta
Mehan

Current

15 Jun 1946

18 Regency Gardens, Cheadle Hulme,
Cheadle, Cheshire SK8 6SX

09 Sep 1991

NA

Current:1
Previous:0
Disqualifications:0

 

Bhupinder Nath
Mehan

Current

13 Apr 1941

18 Regency Gardens, Cheadle Hulme,
Cheadle, Cheshire SK8 6SX

09 Sep 1991

NA

Current:2
Previous:0
Disqualifications:0

 

John Thomas
Evans

Previous

30 Jun 1946

189 Hinckley Road, Carr Mill,
St. Helens, Merseyside WA11 9JX

25 Apr 1994

30 Sep 2005

Current:0
Previous:1
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

 

Bhupinder Nath
Mehan

Current

13 Apr 1941

18 Regency Gardens, Cheadle Hulme,
Cheadle, Cheshire SK8 6SX

09 Sep 1991

NA

Current:2
Previous:0
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

 

There are no corporate secretaries for this company.

 

 

Individual Shareholders

 

Name

Share Details
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Ajay Kumar Mehan

10000 Ordinary GBP 1.00

Ordinary

10,000

1.00

10,000.00

86.96

Ajay Kumar Mehan

1500 A Ordinary GBP 1.00

A Ordinary

1,500

1.00

1,500.00

13.04

 

 

 

 

 

 

 

 

Corporate Shareholders

 

There are no corporate shareholders for this company.

 

 

 

 

Annual Profit & Loss

 

Financials in: USD (mil)                                                                

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

 

 

 

31-Jan-2012

31-Jan-2011

31-Jan-2010

31-Jan-2009

31-Jan-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.624696

0.648787

0.635292

0.558389

0.499611

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Depreciation

0.0

0.0

0.0

0.0

0.0

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Jan-2012

31-Jan-2011

31-Jan-2010

31-Jan-2009

31-Jan-2008

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.637517

0.624317

0.624064

0.717437

0.503018

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Total Tangible Fixed Assets

0.0

0.1

0.1

0.1

0.2

Intangible Assets

0.0

0.0

0.0

0.0

0.0

Investments

0.0

0.0

0.0

0.0

0.0

Total Fixed Assets

0.0

0.1

0.1

0.1

0.2

Total Stocks Work In Progress

1.2

1.4

0.9

0.7

1.1

Total Debtors

0.4

0.6

0.8

0.7

1.4

Cash and Equivalents

0.5

0.0

0.2

0.2

0.0

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

2.0

2.0

1.9

1.6

2.5

Total Assets

2.0

2.1

2.0

1.7

2.6

Other Current Liabilities

0.3

0.4

0.2

0.3

0.6

Total Current Liabilities

0.3

0.4

0.2

0.3

0.6

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)

0.0

0.0

0.0

0.0

0.0

Total Hire Purchase Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

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

0.0

0.0

0.0

0.0

0.0

Deferred Taxation

0.0

0.0

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

0.0

0.0

0.0

0.0

0.0

Share Premium Accounts

0.2

0.2

0.2

0.2

0.3

Revaluation Reserve

0.0

0.0

0.0

0.0

0.0

Retained Earnings

1.5

1.4

1.5

1.2

1.7

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

1.8

1.7

1.8

1.4

2.0

Net Worth

1.8

1.7

1.8

1.4

2.0

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Jan-2012

31-Jan-2011

31-Jan-2010

31-Jan-2009

31-Jan-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.624696

0.648787

0.635292

0.558389

0.499611

Consolidated

No

No

No

No

No

 

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Jan-2012

31-Jan-2011

31-Jan-2010

31-Jan-2009

31-Jan-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.637517

0.624317

0.624064

0.717437

0.503018

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

7.62

5.16

8.31

5.79

3.99

Liquidity Ratio

3.12

1.55

4.38

3.32

2.19

Equity Gearing

8,715.00%

8,126.00%

8,848.00%

8,384.00%

7,650.00%

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.93

UK Pound

1

Rs.100.43

Euro

1

Rs.84.23

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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%)