MIRA INFORM REPORT

 

 

Report Date :

22.12.2014

 

IDENTIFICATION DETAILS

 

Name :

ZOOM INTERNATIONAL INVESTMENTS LIMITED

 

 

Registered Office :

39 Hill Road Pinner Middlesex HA5 1LB

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.05.2013

 

 

Date of Incorporation :

14.11.2005

 

 

Com. Reg. No.:

05621193

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Wholesale of clothing and footwear

 

 

No. of Employees :

Not Available

 

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 name and address

 

 

ZOOM INTERNATIONAL INVESTMENTS LIMITED

 

Address            39 HILL ROAD

PINNER

MIDDLESEX

HA5 1LB

United Kingdom

 

Telephone         00 27 21 5104707

 

Fax                   00 27 21 5104718

 

Website            www.zoomfootwear.com

                                  

Company Number:        05621193

 

Foundation:                   14/11/2005

 

Status:                          Active - Accounts Filed

 

 

Comments    

 

No exact match CCJs are recorded against the company. Net Worth increased by 10.3% during the latest trading period. Pre-tax profits increased by 106% compared to the previous trading period. The audit report contains no adverse comments. Sales in the latest trading period decreased 30.2% on the previous trading period. A 1.6% decline in Total Assets occurred during the latest trading period. The company saw a decrease in their Cash Balance of 89.9% during the latest trading period. There has been no significant change in the company’s credit limit. No recent changes in directorship are recorded. The company is part of a group. The company was established over 9 years ago.

 

 

Basic information

 

Legal form

Private limited with Share Capital

 

Foundation

14/11/2005

 

Company No.

05621193

 

 

Shareholders

 

Name                                                   Currency          Number of shares        Share type       Nominal value

FIRST ROCK HOLDINGS LIMITED          GBP                 1                                  ORDINARY                   1

Total Share Capital                                                                                                                             GBP 1

 

 

Management

 

 

Directors

Name                           Address:                                               Date of birth         Nationality   Appointment                                                                                                                                                    date

Mr Isaac Hasson            27 Avenue De Longueville, Fresnaye,

Cape Town 8005                                    22/02/1952       American         14/11/2005

Mr Philippe Maurice

Hasson19 Avenue Normandie,

Fresnaye,Cape Town 8005                      08/07/1961       Belgian          14/11/2005

 

 

Company Secretary

 

Name                                       Address:                                                           Appointment date

Mr Philippe Maurice                   Hasson 19 Avenue Normandie,

Fresnaye, Cape Town 8005                                 14/11/2005

 

 

Other Known Addresses

 

39 Hill Road, Pinner, Middlesex HA5 1LB

 

Company relationships

 

Company No.   Name                                                               Status              Country

Ultimate parent

-                       UNIVERSAL FOOTWEAR & TRADING CO          Other                ZA

(PTY)LTD

 

 

Business activities

 

Principal Activity         The wholesale of footwear and consumer products. Accounts data converted from US

dollars.

SIC03 Wholesale of clothing and footwear

SIC07 Wholesale of clothing and footwear

 

 

Turnover and Employees

 

Turnover and Employees

 

 

  Date   of Accounts      Turnover                                                                                                      Employees                            

   31/05/2011                   GBP 10,193,204

   31/05/2012                   GBP 8,840,409

        31/05/2013                     GBP 6,168,536      

 

 

 

Auditor

 

Auditor name

WINSTON GROSS & CO

 

Events

 

DATE                ACTION

05/02/2010        New Accounts Filed

10/12/2010        Annual Returns

18/03/2011        New Accounts Filed

18/11/2011        Annual Returns

06/03/2012        New Accounts Filed

06/03/2012        New Accounts Filed

10/12/2012        Annual Returns

29/03/2013        New Accounts Filed

29/03/2013        New Accounts Filed

17/12/2013        Annual Returns

03/03/2014        New Accounts Filed

03/03/2014        New Accounts Filed

21/11/2014        Annual Returns

 

Mortgage

 

Charge created              28/05/2009

Charge registered           02/06/2009

Status                           OUTSTANDING

Entitled person              SHIPFIN LIMITED

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

Mortgage detail              BOOK DEBTS AND BANK ACCOUNTS

 

County Court Judgments (CCJs)

There are no County Court Judgments listed against this company

 

 

Profit & Loss

 

 

 

 

31/05/2013

52

GBP

Group: No

31/05/2012

52

GBP

Group: No

31/05/2011

52

GBP

Group: No

31/05/2010

52

GBP

Group: No

Turnover

6,168,536

8,840,409

10,193,204

7,431,647

Export

-

-

-

-

Cost of Sales

6,019,612.3

8,609,587.57

9,942,380.88

7,234,054.64

Gross Profit

148,923.72

230,821.22

250,822.82

197,592.27

 

 

 

31/05/2013

52

GBP

Group: No

31/05/2012

52

GBP

Group: No

31/05/2011

52

GBP

Group: No

31/05/2010

52

GBP

Group: No

Wages And Salaries

0

0

0

0

Directors Emoluments

-

-

-

-

Operating Profit

50,214.65

54,303.28

41,523.55

42,021.68

Depreciation

0

0

0

0

Audit Fees

3,271.02

2,485.98

3,317.18

2,731.71

Interests Payments

25,287.3

27,703.94

35,355.67

45,893.33

Pre Tax Profit

24,927

-416,572

6,168

2,455

Taxation

-4,985.22

-5,319.86

-1,295.28

-12,633.32

Profit After Tax

19,942.11

-421,892.07

4,872.59

-10,178.6

Dividends Payable

0

0

0

0

Retained Profit

19,942.11

-421,892.07

4,872.59

-10,178.6

 

 

Balance Sheet

 

 

31/05/2013

52

GBP

Group: No

31/05/2012

52

GBP

Group: No

31/05/2011

52

GBP

Group: No

31/05/2010

52

GBP

Group: No

Tangible Assets

0

0

0

0

Intangible Assets

0

0

0

0

Total Fixed Assets

0

0

0

0

Stock

0

0

0

0

Trade Debtors

353,697

652,379

1,248,658

812,132

Cash

14,408

142,700

84,620

28,788

Other Debtors

414,005

0

487,724

868,955

Miscellaneous Current Assets

0

0

0

0

Total Current Assets

782,110

795,079

1,821,002

1,709,875

Trade Creditors

184,303

239,562

418,857

260,728

Bank Loans and Overdraft

0

0

0

0

Other Short Term Finance

0

266

355,918

308,770

Miscellaneous Current Liabilities

384,021

361,406

368,589

505,008

Total Current Liabilities

568,323

601,234

1,143,364

1,074,506

Bank Loans and Overdrafts LTL

0

0

0

0

Other Long Term Finance

0

0

0

0

Total Long Term Liabilities

0

0

0

0

 

Capital & Reserves

 

 

31/05/2013

52

GBP

Group: No

31/05/2012

52

GBP

Group: No

31/05/2011

52

GBP

Group: No

31/05/2010

52

GBP

Group: No

Called Up Share Capital

1

1

1

1

P and L Account Reserve

213,786

193,844

677,636

635,367

Revaluation Reserve

0

0

0

0

Sundry Reserves

0

0

0

0

Shareholders Funds

213,787

193,845

677,638

635,368

 

 

Other Financial Items

 

 

31/05/2013

52

GBP

Group: No

31/05/2012

52

GBP

Group: No

31/05/2011

52

GBP

Group: No

31/05/2010

52

GBP

Group: No

Net Worth

213,787

193,845

677,638

635,368

Working Capital

213,787

193,845

677,638

635,368

Total Assets

782,110.34

795,078.68

1,821,001.99

1,709,874.66

Total Liabilities

568,323

601,234

1,143,364

1,074,506

Net Assets

213,787

193,845

677,638

635,368

 

 

Cash Flow

 

 

 

31/05/2013

52

GBP

Group: No

31/05/2012

52

GBP

Group: No

31/05/2011

52

GBP

Group: No

31/05/2010

52

GBP

Group: No

Net Cash Flow from Operations

0

0

0

0

Net Cash Flow before Financing

0

0

0

0

Net Cash Flow from Financing

0

0

0

0

Increase in Cash

-128,292

58,080

55,832

-21,665

 

 

 

Miscellaneous

 

 

31/05/2013

52

GBP

Group: No

31/05/2012

52

GBP

Group: No

31/05/2011

52

GBP

Group: No

31/05/2010

52

GBP

Group: No

Capital Employed

213,787

193,845

677,638

635,368

 

 

Financial Ratios

 

NAME

31/05.2013

31/05/2012

31/05/2011

31/05/2010

Pre Tax Profit Margin

0.40 %

-4.71 %

0.06 %

0.03 %

Current Ration

1.38

1.32

1.59

1.59

Sales or Net Working Capital

28.85

45.61

15.04

11.70

Gearing

0.00 %

0.00 %

0.00 %

0.00 %

Equity

27.33 %

24.38 %

37.21 %

37.16 %

Creditor Days

10.87

9.86

14.95

12.77

Debtor Days

20.87

26.86

44.58

39.77

Liquidity or Acid test

1.37

1.32

1.59

1.59

Return on Capital Employed

11.65 %

-214.89 %

0.91 %

0.38 %

Return on Total Assets Employed

3.18 %

-52.39 %

0.33 %

0.14 %

Current Debt Ratio

2.65 %

3.10 %

1.68 %

1.69 %

Total Debt Ratio

2.65 %

3.10 %

1.68 %

1.69 %

Stock Turnover Ratio

0.0%

0.0%

0.0%

0.0%

Return on Net Assets Employed

11.65 %

-214.89 %

0.91 %

0.38 %

 

 

REMARKS

 

The ultimate parent company is Universal Footwear & Trading Co (Pty) Ltd, a footwear manufacturer of 18 Island Park, Auckland St, Paarden Eiland, Cape Town, 7405 South Africa.

 

The address at 39 Hill Road, Pinner, Middlesex, HA5 1LB does not appear to be a physical trading address for the company as we note that numerous companies maintain a Registered Office here.

 

The ZOOM Brand launched in 1994 and is one of many in-house brands belonging to Universal Footwear & Trading Company (Pty) Ltd. From inception, ZOOM for him & her immediately distinguished itself as a young, on-trend Footwear Brand in Southern Africa. ZOOM can also be found in Australia, Mauritius, and UAE, among other locations worldwide.

 

Email: samantha@zoom.co.za

Website: www.zoomfootwear.com


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.07

UK Pound

1

Rs.98.73

Euro

1

Rs.77.46

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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.