MIRA INFORM REPORT

 

 

Report Date :

09.12.2014

 

IDENTIFICATION DETAILS

 

Name :

FRENCH CONNECTION GROUP PLC

 

 

Formerly Known As :

STEPHEN MARKS HOLDINGS LIMITED

 

 

Registered Office :

20-22 Bedford Row London Wc1r 4JS

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.01.2014

 

 

Date of Incorporation :

19.01.1979

 

 

Com. Reg. No.:

01410568

 

 

Legal Form :

Public Limited with Share Capital

 

 

Line of Business :

Wholesale of Clothing and Footwear.

 

 

No. of Employees :

2,258

 

 

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 :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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. 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

 

 

Company Identification

 

FRENCH CONNECTION GROUP PLC

 

20-22 BEDFORD ROW

LONDON

WC1R 4JS

United Kingdom

Telephone:                    +44 020 7036 7200

Fax                               --

Website                       www.frenchconnection.com

Company Number:         01410568

Foundation:                   19/01/1979

Status:                          Active - Accounts Filed

VAT No:                        N/A

 

 

Main indices

 

Comments

No exact match CCJs are recorded against the company. Pre-tax profits increased by 41.9% compared to the previous trading period. The audit report contains no adverse comments.

 

Sales in the latest trading period decreased 4% on the previous trading period. Net Worth decreased by 11.4% during the latest trading period. A 4.8% decline in Total Assets occurred during the latest trading period. The company saw a decrease in their Cash Balance of 1.1% during the latest trading period.

 

The company has undergone recent changes in its directorships. The company is part of a group. The company was established over 35 years ago.

 

 

Basic information

 

Legal form

Public limited with Share Capital

 

Foundation

19/01/1979

 

Company No.

01410568

 

Previous Names

Date of Change            Previous Name

20/10/1983                    STEPHEN MARKS HOLDINGS LIMITED

 

 

Shareholders

Name                                       Currency                      Number of shares        Share type       Nominal value

CHASE NOMINEES LTD            GBP                             8,135,653                      ORDINARY       0.01

HSBC GLOBAL CUSTODY

NOMINEE (UK)                          GBP                             6,063,258                      ORDINARY       0.01

STEPHEN ANTHONY SOLOMON

MARKS                                                GBP                             37,587,690                    ORDINARY       0.01

 

Total Share Capital                                                                                         GBP 961,178.34

 

 

Management

 

Directors

 

Name

Address:

Date of birth

Nationality

Appointment

date

Mr Stephen Anthony Solomon Marks

39-41 Egerton Terrace, London SW3 2BU

23/05/1946

British

14/06/1991

Mr Neil Pryce Williams

20-22 Bedford Row, London WC1R 4JS

08/09/1964

British

11/05/1994

Mr Dean Anthony Murray

Lodge Farm, Gilmorton Lane, WilloughbyWaterleys, Leicestershire LE8 6UE

17/11/1962

British

06/02/2008

Ms Claire Angela Kent

10 Montague Road, Richmond, Surrey TW10 6QW

07/08/1963

 

08/10/2008

Mr Adam Castleton

20-22 Bedford Row, London WC1R 4JS

13/03/1964

British

12/08/2013

 

 

Company Secretary

 

Name

Address:

Appointment date

Mr Adam Castleton

20-22 Bedford Row, London WC1R 4JS

12/08/2013

 

 

Other Known Addresses

 

1 Knightsbridge Green, London SW1X 7QA

1-4 Miller Arcade, Preston, Lancashire PR1 2QY

11 Centre West, East Kilbride, Glasgow, Lanarkshire G74 1LL

16 Fouberts Place, London W1F 7PJ

191 Westbourne Ground, London W11 2SB

2 Parkfield Street, Islington, London, London N1 0PS

20 High Street, Canterbury, Kent CT1 2JE

20-22 Bedford Row, London WC1R 4JS

21 Philadelphia Street, Bristol, Avon BS1 3BZ

27 Hampstead High Street, London, London NW3 1QA

27 High Street, Leicester, Leicestershire LE1 4FP

3 Hancock Road, London E3 3DA

30 The Arcade, Meadowhall Centre, Sheffield, South Yorkshire S9 1EH

39 Camden Street, London NW1 0DX

44 Brompton Road, South Kensington, London SW3 1BW

55 King Street, St Helier, Jersey, Channel Islands JE2 4WE

67-68 North Street, Guildford, Surrey GU1 4AW

7-8 The Glades Shopping Centre, High Street, Bromley, Kent BR1 1DD

70 George Street, Edinburgh, Midlothian EH2 2LR

80 George Street, Richmond, Surrey TW9 1HA

Queensway, London W2 4QS

Unit 15, Windsor Royal Station, Jubilee Arch, Windsor, Berkshire SL4 1PJ

Unit 26, Lower Ground Level, The Oracle Centre, Reading, Berkshire RG1 2AQ

Unit 90, Designer Outlet Village, Bridgend, Mid Glamorgan CF32 9SU

Unit Su41 Royal Victoria Place, Tunbridge Wells, Kent TN1 2SS

Upper Mall East, Bullring, Birmingham, West Midlands B5 4BF

 

 

Business activities

 

Main Activities

Principal Activity            A group engaged in the design and supply of branded fashion clothing and accessories.

SIC03                           Wholesale of clothing and footwear

SIC07                           Wholesale of clothing and footwear

 

 

Economic data

 

Turnover and Employees

 

Date of Accounts

Turnover

 Employees

31/01/2012

GBP215,400,000

2,558

31/01/2013

GBP 197,300,000

2,444

31/01/2014

GBP 189,400,000

2,258

 

 

Supplementary data

 

Banks

Bank Name

Bank Branch Sort Code

BARCLAYS BANK PLC

20-00-00

 

 

Auditor

Auditor name

KPMG AUDIT PLC

 

 

Events

Company History

Date                             Action

10/06/2010                    New Accounts Filed

10/06/2010                    New Accounts Filed

27/07/2010                    Annual Returns

21/05/2011                    New Accounts Filed

21/05/2011                    New Accounts Filed

01/08/2011                    Annual Returns

02/06/2012                    New Accounts Filed

02/06/2012                    New Accounts Filed

11/08/2012                    Annual Returns

29/04/2013                    New Accounts Filed

03/06/2013                    Mr R.C. Naismith has left the board

20/07/2013                    New Accounts Filed

20/07/2013                    New Accounts Filed

26/08/2013                    Mr D.A. Murray has left the board

23/09/2013                    Annual Returns

24/09/2013                    Annual Returns

25/09/2013                    Mr R.C. Naismith has resigned as company secretary

11/10/2013                    New Company Secretary Mr A. Castleton appointed

11/10/2013                    New Board Member Mr A. Castleton appointed

21/03/2014                    New Board Member Mr D.A. Murray appointed

05/08/2014                    New Accounts Filed

13/08/2014                    Annual Returns

26/08/2014                    New Accounts Filed

26/08/2014                    New Accounts Filed

 

 

Mortgages

 

 

Charge created

05/09/1930

Charge registered

23/09/1980

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail

UNIT 3, BURTONS ARCADE, LEEDS, WEST YORKSHIRE

 

 

Charge created

04/03/1980

Charge registered

12/03/1980

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND/OR ALL OR ANY OF THE OTHERCOMPANIES NAMED THEREIN TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER.

Mortgage detail

CHARGED BY THE PRINCIPAL DEED AND FURTHERDEED UNDERTAKING AND ALL PROPERTY AND ASSETS

 

 

Charge created

05/09/1980

Charge registered

23/09/1980

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER

Mortgage detail

8 MARKET STREET, MANCHESTER ROYAL EXCHANGE, GREAT MANCHESTER

 

 

Charge created

05/09/1980

Charge registered

23/09/1980

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER

Mortgage detail

21, KENSINGTON CHURCH WALK, KENSINGTON,BOROUGH OF KENSINGTON AND CHELSEA, LONDON

 

 

Charge created

05/09/1980

Charge registered

23/09/1980

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER

Mortgage detail

SHOP PREMISES ON THE GROUND FLOOR AND BASEMENT OF 3, KENSINGTON CHURCH ST, KENSINGTON AND CHELSEA, LONDON.

 

 

Charge created

05/09/1980

Charge registered

23/09/1980

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail

231, THE VALE, ACTON, EALING, LONDON.

 

 

Charge created

05/09/1980

Charge registered

23/09/1980

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER

Mortgage detail

10, THE POULTRY, NOTTINGHAM, NOTTINGHAMSHIRE

 

 

Charge created

05/09/1980

Charge registered

13/09/1980

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER

Mortgage detail

PART OF BUILDING KNOWN AS NO§119,121 AND 124 ABOVE BAR STREET, AND NO§1 AND 3, CIVIC CENTRE ROAD, SOUTHAMPTON, HAMPSHIRE.

 

 

Charge created

05/09/1980

Charge registered

23/09/1980

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER

Mortgage detail

STUDIO§7 AND 8, 5, KENSINGTON CHURCH STREET, ON 1ST FL, TOGETHER WITH GROUND FLWORKROOM, KENSINGTON AND CHELSEA, LONDON.

 

 

Charge created

06/09/1980

Charge registered

23/09/1980

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER

Mortgage detail

15, CASES STREET, LIVERPOOL, MERSEYSIDE

 

 

Charge created

15/12/1980

Charge registered

22/12/1980

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER

 

Mortgage detail

GROUND FLOOR SHOP SITUATE AND BEING NUMBER 117 NEW STREET, BIRM- INGHAM, WEST MIDLANDS, PLUS MEZZANINE FLOOR AT REAR OF SAID SHOP AND THE FIRST AND SECOND FLOORSABOVE THE SAID MEZZANINE FLOOR.

 

Charge created

13/11/1981

Charge registered

20/11/1981

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail

L/H 6 MARKET ST, MANCHESTER, GREATER MANCHESTER

 

 

 

Charge created

01/06/1982

Charge registered

01/06/1982

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail

L/H THE BASEMENT GROUND AND FIRST FLOORS OF PREMISES KNOWN AS 10 THE PAULTRY, NOTTINGHAM NOTTINGHAMSHIRE

 

Charge created

18/03/1983

Charge registered

05/04/1983

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail

L/H 8, MARKET STREET, MANCHESTER SITUATE ON THE GROUND FLOOR AND IN THE BASEMENT OF THE BUILDING KNOWN AS MANCHESTER ROYAL EXCHANGE GREATER MANCHESTER

 

 

Charge created

26/07/1983

Charge registered

01/08/1983

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail

L/H 16 MARKET HILL CAMBRIDGE CAMBRIDGESHIRE

 

Charge created

30/06/1987

Charge registered

20/07/1987

Status

SATISFIED

Entitled person

BANQUE INTERNATIONALE ALEXEMBOUG

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE

 

Mortgage detail

ALL GOODS, BILLS OF LANDING WARRANTS, DELIVERY ORDERS, DOCUMENTS OF TITLE TO GOODS, AND ALL PROPERTY AND OTHER RIGHTS EMODIED THEREIN, ALL PROCEEDS OF SALE OR OTHER DISPOSITION OF THE GOODS, AS DELIVERED TO OR IN THE POSSESSION OF THE BANK.OR HELD TO ITS ORDER, NOW OR AT ANY TIME

 

 

Charge created

01/12/1989

Charge registered

11/12/1989

Status

SATISFIED

Entitled person

BARCLAYS BANK(AS AGENT AND TRUSTEE FOR THE BANKS, AS DEFINED)

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND/OR ALL OR ANY OF THE OTHERCOMPANIES NAMED THEREIN TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER

Mortgage detail

(SEE FORM 395 REF M141 FOR FULL DETAILS) FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FU­TURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIX­TURES FIXED PLANT AND MACHINERY

 

 

Charge created

01/12/1989

Charge registered

11/12/1989

Status

SATISFIED

Entitled person

BARCLAYS BANK(AS AGENT AND TRUSTEE FOR THE BANKS, AS DEFINED)

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND/OR ALL OR ANY OF THE OTHERCOMPANIES NAMED THEREIN TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER

Mortgage detail

(SEE FORM 395 REF M141 FOR FULL DETAILS) FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FU­TURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIX­TURES FIXED PLANT AND MACHINERY

 

 

Charge created

08/01/1996

Charge registered

11/01/1996

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER

Mortgage detail

F/H PROPERTY K/A 75 TO 93 (ODD NUMBERS ) FAIRFIELD ROAD POPLAR L/B OF TOWER HAMLETS T/NO NGL 222358

 

 

Charge created

08/01/1996

Charge registered

11/01/1996

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER

Mortgage detail

F/H PROPERTY K/A 79 81 AND 83 FAIRFIELDROAD BOW L/B OF TOWER HAMLETS T/NO NGL95231

 

 

Charge created

08/01/1996

Charge registered

11/01/1996

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail

F/H PROPERTY K/A 97 FAIRFIELD ROAD L/B OF TOWER HAMLETS T/NO NGL122582

 

 

Charge created

08/01/1996

Charge registered

11/01/1996

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER

Mortgage detail

F/H PROP K/A 85 TO 95 (ODD NUMBERS) FAIRFIELD ROAD BOW L/B OF TOWER HAMLETS T/NO NGL 96974

 

 

Charge created

08/01/1996

Charge registered

11/01/1996

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER

Mortgage detail

F/H PROPERTY K/A 99 FAIRFIELD ROAD POPLAR L/B OF TOWER HAMLETS T/NO 165161

 

 

Charge created

08/01/1996

Charge registered

11/01/1996

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER

Mortgage detail

F/H LAND AND BUILDINGS K/A OR BEING ARTILLERY WORKS AND 77 FAIRFIELD ROAD POPLAR L/B OF TOWER HAMLETS T/NO NGL 221794

 

 

Charge created

01/05/1996

Charge registered

16/05/1996

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM FRENCH CONNECTION (HONG KONG) LIMITED TO THE CHARGEE AND TO THE LENDERS AND EACH OF THEM ON ANY ACCOUNTWHATSOEVER

Mortgage detail

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UN­CALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

 

 

Charge created

13/06/1996

Charge registered

24/06/1996

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC, AS AGENT AND TRUSTEE FOR THE LENDERS

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER BUT PURSUANT TO A GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989 ANDDEED OF ACCESSION AND SUP­PLEMENTAL CHARGE DATED 1ST MAY 1996

Mortgage detail

F/H PROPERTY K/A 99 FAIRFIELD ROAD, BOW, L/B OF TOWER HAMLETS T/NO. 165161

 

 

Charge created

13/06/1996

Charge registered

24/06/1996

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC, AS AGENT AND TRUSTEE FOR THE LENDERS

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER BUT PURSUANT TO A GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989 ANDDEED OF ACCESSION AND SUP­PLEMENTAL CHARGE DATED 1ST MAY 1996

Mortgage detail

F/H PROPERTY K/A 85 TO 95 (ODD NUMBERS)FAIRFIELD ROAD, BOW, L/B OF TOWER HAMLETS T/NO. NGL96974

 

 

Charge created

13/06/1996

Charge registered

24/06/1996

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC, AS AGENT AND TRUSTEE FOR THE LENDERS

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER BUT PURSUANT TO A GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989 ANDDEED OF ACCESSION AND SUP­PLEMENTAL CHARGE DATED 1ST MAY 1996

Mortgage detail

F/H PROPERTY K/A 97 FAIRFIELD ROAD, BOW, L/B OF TOWER HAMLETS T/NO. 122582

 

 

Charge created

13/06/1996

Charge registered

24/06/1996

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC, AS AGENT AND TRUSTEE FOR THE LENDERS

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER BUT PURSUANT TO A GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989 ANDDEED OF ACCESSION AND SUP­PLEMENTAL CHARGE DATED 1ST MAY 1996

Mortgage detail

F/H PROPERTY K/A LAND AT THE BACK OF 75TO 93 (ODD) FAIRFIELD ROAD, POPLAR, L/BOF TOWER HAMLETS T/NO. NGL222358

 

 

Charge created

13/06/1996

Charge registered

24/06/1996

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC, AS AGENT AND TRUSTEE FOR THE LENDERS

 

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER PURSUANT TO A GUARANTEE AND DEBEN- TURE DATED 1ST DECEMBER 1989 AND DEED OF ACCESSION AND SUPPLEMEN- TAL CHARGE DATED 1ST MAY 1996

Mortgage detail

F/H PROPERTY K/A 79, 81 AND 83 FAIRFIELD ROAD, BOW, L/B OF TOWER HAM- LETS T/NO. NGL95231

 

 

 

Charge created

13/06/1996

Charge registered

24/06/1996

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC, AS AGENT AND TRUSTEE FOR THE LENDERS

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER BUT PURSUANT TO A GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989 ANDDEED OF ACCESSION AND SUP- PLEMENTAL CHARGE DATED 1ST MAY 1996

Mortgage detail

L/H PROPERTY COMPRISED AT THE FIRST ANDMEZZANINE FLOORS OF CARN- ABY COURT AND K/A 16 FOUBERTS PLACE, L/B OF CITY OF WESTMINSTER. SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

 

Charge created

13/06/1996

Charge registered

24/06/1996

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC, AS AGENT AND TRUSTEE FOR THE LENDERS

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER BUT PURSUANT TO A GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989 ANDDEED OF ACCESSION AND SUP- PLEMENTAL CHARGE DATED 1ST MAY 1996

Mortgage detail

F/H PROPERTY K/A ARTILLERY WORKS AND 77FAIRFIELD ROAD, POPLAR, L/B OF TOWER HAMLETS T/NO. NGL221794

 

Charge created

12/09/1996

Charge registered

24/09/1996

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER BUT PURSUANT TO THE SAID SECURITY

Mortgage detail

L/H PROPERTY COMPRISED IN THE FIRST FLOOR, SECIND FLOORS, ROOF GAR- DEN TOGETHER WITH THE APPURTENANCES AT BERKELEY HOUSE, 197 ASHLEY ROAD, HALE, GREATER MANCHESTER T/NO. GM407367

 

County Court Judgments (CCJs)

There are no County Court Judgments listed against this company

 

 

Accounts

 

Profit and Loss

 

31/01/2014

31/01/2013

31/01/2012

31/01/2011

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: Yes

Group: Yes

Group: Yes

Group: Yes

Turnover

189,400,000

197,300,000

215,400,000

213,800,000

Export

-

-

82,100,000

-

Cost of Sales

99,200,000

102,700,000

111,800,000

103,200,000

Gross Profit

90,200,000

94,600,000

103,600,000

110,600,000

Wages And Salaries

35,400,000

37,600,000

38,900,000

41,900,000

Directors Emoluments

1,180,000

900,000

1,280,000

850,000

Operating Profit

-4,400,000

-7,200,000

4,200,000

7,400,000

Depreciation

1,900,000

3,100,000

2,800,000

3,700,000

Audit Fees

100,000

100,000

300,000

400,000

Interests Payments

0

0

0

0

Pre Tax Profit

-6,100,000

-10,500,000

5,000,000

8,900,000

Taxation

100,000

0

-500,000

-200,000

Profit After Tax

-6,000,000

-10,500,000

4,500,000

8,700,000

Dividends Payable

0

1,000,000

1,600,000

1,000,000

Retained Profit

-6,000,000

-11,500,000

3,700,000

-3,400,000

 

 

Balance Sheet

 

 

31/01/2014

31/01/2013

31/01/2012

31/01/2011

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: Yes

Group: Yes

Group: Yes

Group: Yes

Tangible Assets

12,400,000

13,100,000

15,000,000

16,000,000

Intangible Assets

400,000

400,000

2,400,000

2,400,000

Total Fixed Assets

12,800,000

13,500,000

17,400,000

18,400,000

Stock

38,500,000

41,500,000

46,900,000

40,300,000

Trade Debtors

13,700,000

14,100,000

11,100,000

9,000,000

Cash

28,200,000

28,500,000

34,200,000

34,100,000

Other Debtors

9,000,000

9,600,000

15,400,000

16,600,000

Miscellaneous Current Assets

0

100,000

100,000

0

Total Current Assets

89,400,000

93,800,000

107,700,000

100,000,000

Trade Creditors

23,300,000

21,600,000

23,800,000

21,400,000

Bank Loans and Overdraft

0

0

0

0

Other Short Term Finance

200,000

0

2,600,000

0

Miscellaneous Current Liabilities

21,700,000

21,300,000

22,700,000

24,300,000

Total Current Liabilities

45,200,000

42,900,000

49,100,000

45,700,000

Bank Loans and Overdrafts LTL

1,400,000

1,700,000

1,900,000

900,000

Other Long Term Finance

0

0

0

0

Total Long Term Liabilities

1,400,000

1,700,000

1,900,000

900,000

 

 

Capital and Reserves

 

31/01/2014

52

GBP

Group: Yes

31/01/2013

52

GBP

Group: Yes

31/01/2012

52

GBP

Group: Yes

31/01/2011

52

GBP

Group: Yes

Called Up Share Capital

1,000,000

1,000,000

1,000,000

1,000,000

P and L Account Reserve

40,900,000

47,000,000

58,300,000

54,600,000

Revaluation Reserve

0

0

0

0

Sundry Reserves

13,700,000

14,700,000

14,800,000

16,200,000

Shareholders Funds

55,600,000

62,700,000

74,100,000

71,800,000

 

 

Other Financial Items

 

31/01/2014

52

GBP

Group: Yes

31/01/2013

52

GBP

Group: Yes

31/01/2012

52

GBP

Group: Yes

31/01/2011

52

GBP

Group: Yes

 

 

 

 

 

Net Worth

55,200,000

62,300,000

71,700,000

69,400,000

Working Capital

44,200,000

50,900,000

58,600,000

54,300,000

Total Assets

102,200,000

107,300,000

125,100,000

118,400,000

Total Liabilities

46,600,000

44,600,000

51,000,000

46,600,000

Net Assets

55,600,000

62,700,000

74,100,000

71,800,000

 

 

Cash Flow

 

31/01/2014

31/01/2013

31/01/2012

31/01/2011

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: Yes

Group: Yes

Group: Yes

Group: Yes

Net Cash Flow from Operations

1,600,000

-4,200,000

400,000

3,100,000

 

Net Cash Flow before Financing

-400,000

-4,700,000

1,900,000

-900,000

 

Net Cash Flow from Financing

0

-1,000,000

-1,700,000

-1,000,000

 

Increase in Cash

-300,000

-5,700,000

100,000

-1,600,000

 

 

 

Miscellaneous

 

31/01/2014

31/01/2013

31/01/2012

31/01/2011

 

52

52

52

52

 

GBP

GBP

GBP

GBP

 

Group: Yes

Group: Yes

Group: Yes

Group: Yes

Capital Employed

57,000,000

64,400,000

76,000,000

72,700,000

 

 

Financial Ratios

Name

31/01/2014

31/01/2013

31/01/2012

31/01/2011

Pre Tax Profit Margin

-3.22 %

-5.32%

2.32 %

4.16%

Current Ration

1.98

2.19

2.19

2.19

Sales or Networking Capital

4.29

3.88

3.68

3.94

Gearing

2.52 %

2.71 %

2.56 %

1.25 %

Equity

54.62 %

58.65 %

60.39 %

61.90%

Creditor Days

44.77

39.84

40.21

36.43

Debtor Days

26.32

26.01

18.75

15.32

Liquidity or Acid test

1.12

1.21

1.23

1.30

Return on Capital Employed

-10.70%

-16.30%

6.57 %

12.24%

Return on Total Assets Employed

-5.96%

-9.78%

3.99 %

7.51 %

Current Debt Ratio

0.81 %

0.68 %

0.66 %

0.63 %

Total Debt Ratio

0.83 %

0.71 %

0.68 %

0.64 %

Stock Turnover Ratio

20.32 %

21.03%

21.77%

18.84%

Return on Net Assets Employed

-10.97%

-16.74%

6.74 %

12.39%

 

 

Remarks

 

Achieving high levels of turnover. The general financial position appears to be in order and heavy losses in recent years have been well covered from reserves. Should continue to trade well for the foreseeable future.

 

14 April 2014 - Shares in High Street fashion chain French Connection have jumped almost 12% after the firm reported a sharp increase in sales. Like-for-like sales, which exclude sales from new stores, rose 11% in the 11 weeks to 12 April from a year ago. The retailer, which has 131 stores in the UK and Europe, credited its "retail initiatives and improved product range" for the jump. It has been trying to turn around the business after years of weak sales. The chain said its performance had benefitted from the comparison with last year when first-half sales fell 4.5%, but said it indicated that the "positive trend" seen in the second half of last year was continuing.

 

Next accounts due to be filled by 31/07/2015

 

Activity: Subsidiary Involved in design and supply of branded fashion items

 

Trading Address: Unit B, Dolphin Way, Purfleet, Essex RM19 1NZ

 

Branches: Group operates around UK

 

Employees: 2,258

 

Bank: Barclays Bank PLC

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.93

UK Pound

1

Rs.96.37

Euro

1

Rs.76.10

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIT

 

               

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.