Report Date :

11.08.2014

IDENTIFICATION DETAILS

Name :	PERUNA GROUP LIMITED

Registered Office :	Waterside House 35 North Wharf Road london W2 1NW

Country :	United Kingdom

Financials (as on) :	31.03.2013

Date of Incorporation :	09.06.2004

Legal Form :	Private Limited with Share Capital

Line of Business :	Retail sale of clothing in specialised stores

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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 – June 01, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

United Kingdom

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	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. 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, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. 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. Falling 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 included 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 about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 largely due to 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 £375 billion (approximately $605 billion) as of December 2013. 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, however, in 2013 GDP grew 1.4%, accelerating unexpectedly in the second half of the year because of greater consumer spending and a recovering housing market. The budget deficit is falling but remains high at nearly 7% and public debt has continued to increase

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

PERUNA GROUP LIMITED

DIRECTORS/MANAGEMENT

Current Directors

Name	Amanda Mellor	Date of Birth	07/03/1964
Officers Title	Ms	Nationality	British
Present Appointments	60	Function	Director
Appointment Date	30/07/2009
Address	35 North Wharf Road, London, W2 1NW
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Scott Iain Fyfe	Date of Birth	04/04/1974
Officers Title	Mr	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	10/02/2011
Address	Waterside House, 35 North Wharf Road, London, W2 1NW
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	Robert John Ivens	Date of Birth	10/04/1958
Officers Title	Mr	Nationality	British
Present Appointments	75	Function	Company Secretary
Appointment Date	01/05/2006
Address	Waterside House, 35 North Wharf Road, London, W2 1NW

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Andrea Christine White	14	12
Andrea Christine White	14	12
Melanie Fiona Davies	1	5
PEREGRINE SECRETARIAL SERVICES LIMITED	48	514
Emma Claire Trayner	9	1
Christopher James Markham	0	2
Andrew Michael Skinner	0	3
Padraig Drennan	11	9
SWIFT INCORPORATIONS LIMITED	2579	263489
OFFICE ORGANIZATION & SERVICES LIMITED	163	1272
George William Davies	17	44
Graham John Oakley	14	81
Alison Clare Reed	2	27

NEGATIVE INFORMATION

Mortgage Summary

Total Mortgage 0

Outstanding 0

Satisfied 0

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	-

Exact CCJ Details

No CCJs found

Possible CCJs Details

There are no possible CCJ details

Writ Details

No writs found

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MARKS & SPENCER PLC	GBP	100,000	ORDINARY	1	100

PAYMENT INFORMATION

Average Invoice Value	n/a
Invoices available	n/a
Paid	n/a
Outstanding	n/a

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

	Within Terms	0-30 Days	31-60 Days	61-90 Days	91+ Days
Paid
Outstanding

GROUP STRUCTURE & AFFILIATED COMPANIES

Group structure

Statistics

Group	54 companies
Linkages	6 companies
Countries	In 2 countries

FINANCIAL INFORMATION

Profit & Loss

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	02/04/11	(%)	31/03/11	(%)	03/04/10
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	53
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£255,290,000	-12.4%	£291,293,000	4%	£280,064,000	-	£280,064,000	9%	£256,972,000
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	£198,147,000	-10.7%	£221,870,000	1.7%	£218,151,000	-	£218,151,000	11.1%	£196,340,000
Gross Profit	£57,143,000	-17.7%	£69,423,000	12.1%	£61,913,000	-	£61,913,000	2.1%	£60,632,000
Wages & Salaries	£5,956,000	6%	£5,618,000	-18.2%	£6,871,000	-	£6,871,000	-5.4%	£7,261,000
Directors Emoluments	-	-	-	-100%	£293,000	-	£293,000	-28.4%	£409,000
Operating Profit	£47,267,000	-17.3%	£57,184,000	8.5%	£52,728,000	-	£52,728,000	5.9%	£49,781,000
Depreciation	£108,000	-52.8%	£229,000	-28.7%	£321,000	-	£321,000	10.3%	£291,000
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-100%	£1,000	-	£1,000	-	£1,000	-50%	£2,000
Pre Tax Profit	£47,267,000	-17.3%	£57,183,000	8.5%	£52,727,000	-	£52,727,000	5.9%	£49,779,000
Taxation	-£11,298,000	23.8%	-£14,826,000	-0.8%	-£14,711,000	-	-£14,711,000	-6.4%	-£13,822,000
Profit After Tax	£35,969,000	-15.1%	£42,357,000	11.4%	£38,016,000	-	£38,016,000	5.7%	£35,957,000
Dividends Payable	-	-100%	£225,000,000	-	-	-	-	-	-
Retained Profit	£35,969,000	119.7%	-£182,643,000	-580.4%	£38,016,000	-	£38,016,000	5.7%	£35,957,000

Balance Sheet

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	02/04/11	(%)	31/03/11	(%)	03/04/10
Tangible Assets	£160,000	-72%	£571,000	-25.7%	£769,000	-	£769,000	11.9%	£687,000
Intangible Assets	£228,000	16.9%	£195,000	11.4%	£175,000	-	£175,000	-49.7%	£348,000
Total Fixed Assets	£388,000	-49.3%	£766,000	-18.9%	£944,000	-	£944,000	-8.8%	£1,035,000
Stock	£5,002,000	-21.5%	£6,369,000	-40.9%	£10,778,000	-	£10,778,000	-35.9%	£16,818,000
Trade Debtors	0	-	0	-	0	-	0	-	0
Cash	£1,681,000	-89.4%	£15,910,000	-90.3%	£164,021,000	-	£164,021,000	10.8%	£148,031,000
Other Debtors	£87,583,000	101%	£43,574,000	-30.7%	£62,922,000	-	£62,922,000	80.3%	£34,901,000
Miscellaneous Current Assets	£106,000	-78.1%	£483,000	-5.3%	£510,000	-	£510,000	-77.9%	£2,312,000
Total Current Assets	£94,372,000	42.3%	£66,336,000	-72.2%	£238,231,000	-	£238,231,000	17.9%	£202,062,000
Trade Creditors	£16,265,000	-42.7%	£28,399,000	58.9%	£17,877,000	-	£17,877,000	206.6%	£5,831,000
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	£7,843,000	520%	£1,265,000	-61.6%	£3,294,000	-	£3,294,000	-77.6%	£14,682,000
Miscellaneous Current Liabilities	£22,773,000	-12.3%	£25,970,000	6.6%	£24,364,000	-	£24,364,000	0.2%	£24,323,000
Total Current Liabilities	£46,881,000	-15.7%	£55,634,000	22.2%	£45,535,000	-	£45,535,000	1.6%	£44,836,000
Bank Loans & Overdrafts and LTL	£664,000	-	£664,000	217.7%	£209,000	-	£209,000	-76.1%	£876,000
Other Long Term Finance	0	-	0	-100%	£8,000	-	£8,000	-38.5%	£13,000
Total Long Term Liabilities	£664,000	-	£664,000	217.7%	£209,000	-	£209,000	-76.1%	£876,000

Capital & Reserves

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	02/04/11	(%)	31/03/11	(%)	03/04/10
Called Up Share Capital	£100,000	-	£100,000	-	£100,000	-	£100,000	-	£100,000
P & L Account Reserve	£47,115,000	322.7%	£11,146,000	-94.2%	£193,789,000	-	£193,789,000	24.4%	£155,773,000
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	100%	-£442,000	3.5%	-£458,000	-	-£458,000	-130.3%	£1,512,000
Shareholder Funds	£47,215,000	337%	£10,804,000	-94.4%	£193,431,000	-	£193,431,000	22.9%	£157,385,000

Other Financial Items

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	02/04/11	(%)	31/03/11	(%)	03/04/10
Net Worth	£46,987,000	342.9%	£10,609,000	-94.5%	£193,256,000	-	£193,256,000	23.1%	£157,037,000
Working Capital	£47,491,000	343.8%	£10,702,000	-94.4%	£192,696,000	-	£192,696,000	22.6%	£157,226,000
Total Assets	£94,760,000	41.2%	£67,102,000	-71.9%	£239,175,000	-	£239,175,000	17.8%	£203,097,000
Total Liabilities	£47,545,000	-15.5%	£56,298,000	23.1%	£45,744,000	-	£45,744,000	0.1%	£45,712,000
Net Assets	£47,215,000	337%	£10,804,000	-94.4%	£193,431,000	-	£193,431,000	22.9%	£157,385,000

Cash Flow

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	02/04/11	(%)	31/03/11	(%)	03/04/10
Net Cashflow from Operations	-£14,975,000	-119.6%	£76,532,000	366.7%	£16,400,000	-	£16,400,000	-44.7%	£29,650,000
Net Cashflow before Financing	-£15,157,000	-119.7%	£76,882,000	381.2%	£15,976,000	-	£15,976,000	-45.4%	£29,271,000
Net Cashflow from Financing	-	100%	-£225,000,000	-	-	-	-	-	-
Increase in Cash	-£15,157,000	89.8%	-£148,118,000	-999.9%	£15,976,000	-	£15,976,000	-45.4%	£29,271,000

Miscellaneous

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	02/04/11	(%)	31/03/11	(%)	03/04/10
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£47,879,000	317.5%	£11,468,000	-94.1%	£193,640,000	-	£193,640,000	22.4%	£158,261,000
Number of Employees	108	-11.5%	122	-18.1%	149	-	149	3.5%	144
Auditors	PRICEWATERHOUSECOOPERS LLP
Auditor Comments	The audit report contains no adverse comments
Bankers
Bank Branch Code

Ratios

Date Of Accounts	31/03/13	31/03/12	02/04/11	31/03/11	03/04/10
Pre-tax profit margin %	18.52	19.63	18.83	18.83	19.37
Current ratio	2.01	1.19	5.23	5.23	4.51
Sales/Net Working Capital	5.38	27.22	1.45	1.45	1.63
Gearing %	1.40	6.10	0.10	0.10	0.60
Equity in %	49.90	16.10	80.90	80.90	77.60
Creditor Days	23.19	35.48	23.23	23.23	8.41
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	1.90	1.07	4.99	4.99	4.13
Return On Capital Employed %	98.72	498.63	27.22	27.22	31.45
Return On Total Assets Employed %	49.88	85.21	22.04	22.04	24.50
Current Debt Ratio	0.99	5.14	0.23	0.23	0.28
Total Debt Ratio	1	5.21	0.23	0.23	0.29
Stock Turnover Ratio %	1.95	2.18	3.84	3.84	6.54
Return on Net Assets Employed %	100.11	529.27	27.25	27.25	31.62

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Status History

No Status History found

Event History

Date	Description
09/07/2014	Annual Returns
08/01/2014	New Accounts Filed
08/01/2014	New Accounts Filed
30/09/2013	Annual Returns
05/01/2013	New Accounts Filed
05/01/2013	New Accounts Filed
26/06/2012	Annual Returns
15/10/2011	New Accounts Filed
15/10/2011	New Accounts Filed
09/07/2011	Annual Returns
09/03/2011	Mr A.M. Skinner has left the board
09/03/2011	New Board Member Mr S.I. Fyfe appointed
20/10/2010	New Accounts Filed
20/10/2010	New Accounts Filed
06/07/2010	Annual Returns

Previous Company Names

Date	Previous Name
29/07/2004	PRECIS (2438) LIMITED

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.
Sales in the latest trading period decreased 12.4% on the previous trading period.
Net Worth increased by 342.9% during the latest trading period.

A 41.2% growth in Total Assets occurred during the latest trading period.
Pre-tax profits decreased by 17.3% compared to the previous trading period.
The company saw a decrease in their Cash Balance of 89.4% during the latest trading period.
The audit report contains no adverse comments.
No recent changes in directorship are recorded.
The company is part of a group.
The company has changed its year end on multiple occasions.
The company was established over 10 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.56
UK Pound	1	Rs.103.50
Euro	1	Rs.82.41

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	NIS

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.

Name	Safe Number	Number	Latest Key Financials	Rating	Limit	Turnover
MARKS AND SPENCER B.V.	NL02170621	34287696	30.03.2013	85	€77,000
MARKS AND SPENCER STORES B.V.	NL01972088	33225985	24.02.2013	77	€970,000
M & S MODE INTERNATIONAL B.V.	NL01975040	33235552	24.02.2013	N/R	-
MARKS AND SPENCER NEDERLAND (RETAIL) B.V.	NL03149290	55457398	30.03.2013	3	€0
J SAINSBURY HOLDINGS	IE00204229	IE210097	16.03.2013	85	€1,000
JS FINANCE CORPORATION	IE00204230	IE210098	18.03.2013	94	€1,550,000