MIRA
INFORM REPORT
|
Report Date : |
07.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
PEACOCKS STORES LIMITED |
|
|
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|
Formerly Known As : |
EWM (IP) LIMITED |
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|
|
|
Registered Office : |
Waverley Mills, Langholm, Dumfriesshire, Dg13 0eb |
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|
|
|
Country : |
United Kingdom |
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|
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|
Financials (as on) : |
02.03.2013 |
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|
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|
Date of Incorporation : |
19.05.2005 |
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|
Com. Reg. No.: |
SC285031 |
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|
Legal Form : |
Private limited with Share Capital |
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|
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|
Line of Business : |
·
Retail sale of Clothing, Footwear & Accessories for Womens,
Mens, Boys & Girls in specialised
stores Subject manages, maintain,
protect, develop and enhance the intellectual property of group companies. |
|
|
|
|
No. of Employees : |
5575 (02.03.2013) |
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 |
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|
|
Payment Behaviour : |
No Complaints |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
United Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
United Kingdom 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 |
REGISTERED NAME & COMPANY SUMMARY
|
Company Name |
PEACOCKS STORES LIMITED |
Company Number |
SC285031 |
|
Registered Address |
WAVERLEY MILLS |
Head Office |
Capital Link
Windsor Road Cardiff CF24 5NG, United
Kingdom |
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|
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|
Website Address |
|||
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Telephone Number |
01387380611 |
||
|
TPS |
No |
||
|
Incorporation Date |
19/05/2005 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
EWM (IP) LIMITED |
Type |
Private limited with
Share Capital |
|
Date of Change |
29/02/2012 |
Filing Date of Accounts |
21/12/2013 |
|
|
|
Share Capital |
£5,000,000 |
|
SIC03 |
5242 |
Currency |
GBP |
|
SIC03 Description |
Retail sale of clothing |
||
|
SIC07 |
47710 |
||
|
SIC07 Description |
Retail sale
of Clothing, Footwear & Accessories for Womens,
Mens, Boys & Girls in specialised
stores |
||
|
Principal Activity |
To manage, maintain,
protect, develop and enhance the intellectual property of group companies. |
||
DIRECTORS/MANAGEMENT
|
Total Current Directors |
4 |
|
Total Current
Secretaries |
1 |
|
Total Previous Directors
/ Company Secretaries |
4 |
Current Directors
|
Name |
Date of Birth |
25/10/1965 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
24 |
Function |
Director |
|
Appointment Date |
19/08/2005 |
|
|
|
Address |
Hayton Hall, Edmund
Castle Estate, Corby Hill, Carlisle, Cumbria, CA4 8QD |
||
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|
|
|
|
|
Name |
Date of Birth |
13/05/1974 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
68 |
Function |
Director |
|
Appointment Date |
04/01/2012 |
|
|
|
Address |
The Edinburgh Woollen
Mill Ltd, Waverley Mills, Langholm, Dumfriesshire, DG13 0EB |
||
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|
|
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|
Name |
Date of Birth |
09/08/1968 |
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|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
17/02/2012 |
|
|
|
Address |
The Edinburgh Woollen
Mill Ltd, Waverley Mills, Langholm, Dumfriesshire, DG13 0EB |
||
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|
|
|
|
|
Name |
Date of Birth |
14/10/1962 |
|
|
Officers Title |
Mrs |
Nationality |
British |
|
Present Appointments |
6 |
Function |
Director |
|
Appointment Date |
17/02/2012 |
|
|
|
Address |
Waverley Mills,
Langholm, Dumfriesshire, DG13 0EB |
||
NEGATIVE INFORMATION
CCJ
|
Total Number of Exact
CCJs - |
Total Value of Exact
CCJs - |
|
|
|
Total Number of Possible
CCJs - |
Total Value of Possible
CCJs - |
|
|
|
Total Number of
Satisfied CCJs - |
Total Value of Satisfied
CCJs - |
|
|
|
Total Number of Writs - |
- |
|
|
Exact CCJ Details
There are no exact CCJ
details
Possible CCJ
Details
There are no possible CCJ
details
Writ Details
There are no writ details
SHARE & SHARE CAPITAL
INFORMATION
Top 20
Shareholders
|
Name |
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
EWM (TOPCO) LTD |
GBP |
5,000,000 |
ORDINARY |
1 |
100 |
PAYMENT INFORMATION
Payment
Information Summary
|
Days Beyond Terms |
Trend Indicator |
Average
Payment Experience |
|
||||
|
Steady Improving Worsening |
|
|
GROUP STRUCTURE & AFFILIATED
COMPANIES
Statistics
|
Group |
63 companies |
|
Linkages |
|
|
Countries |
|
Holding Company |
EWM (TOPCO) LIMITED |
|
Ownership Status |
Wholly Owned |
|
Ultimate Holding Company
|
THE EDINBURGH WOOLLEN
MILL (GROUP) LIMITED |
FINANCIAL INFORMATION
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
02/03/2013 |
£315,874,000 |
£51,657,000 |
£45,325,000 |
5575 |
|
25/02/2012 |
£2,578,000 |
£710,000 |
£6,169,000 |
65 |
|
26/02/2011 |
- |
-£365,000 |
£5,815,000 |
- |
Profit & Loss
|
Date Of Accounts |
02/03/13 |
25/02/12 |
26/02/11 |
27/02/10 |
28/02/09 |
|
Weeks |
53 |
52 |
52 |
52 |
52 |
|
Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Consolidated A/cs |
N |
N |
N |
N |
N |
|
Turnover |
£315,874,000 |
£2,578,000 |
- |
£4,331,000 |
£4,358,000 |
|
Export |
- |
- |
- |
- |
- |
|
Cost of Sales |
£242,459,000 |
£1,325,000 |
£53,000 |
£2,698,000 |
£2,607,000 |
|
Gross Profit |
£73,415,000 |
£1,253,000 |
-£53,000 |
£1,633,000 |
£1,751,000 |
|
Wages & Salaries |
£51,663,000 |
£175,000 |
- |
- |
- |
|
Directors Emoluments |
£94,000 |
- |
- |
- |
- |
|
Operating Profit |
£51,975,000 |
£794,000 |
-£108,000 |
£1,576,000 |
£1,698,000 |
|
Depreciation |
£367,000 |
- |
- |
- |
- |
|
Audit Fees |
£40,000 |
£3,000 |
£2,000 |
£2,000 |
£2,000 |
|
Interest Payments |
£697,000 |
£84,000 |
£257,000 |
£273,000 |
£669,000 |
|
Pre Tax Profit |
£51,657,000 |
£710,000 |
-£365,000 |
£1,303,000 |
£1,029,000 |
|
Taxation |
-£12,501,000 |
-£356,000 |
£109,000 |
-£1,289,000 |
-£1,007,000 |
|
Profit After Tax |
£39,156,000 |
£354,000 |
-£256,000 |
£14,000 |
£22,000 |
|
Dividends Payable |
- |
- |
- |
- |
- |
|
Retained Profit |
£39,156,000 |
£354,000 |
-£256,000 |
£14,000 |
£22,000 |
Balance Sheet
|
Date Of Accounts |
02/03/13 |
25/02/12 |
26/02/11 |
27/02/10 |
28/02/09 |
|
Tangible Assets |
£4,270,000 |
£2,000,000 |
0 |
£14,650,000 |
£223,000 |
|
Intangible Assets |
0 |
-£7,909,000 |
£728,000 |
£834,000 |
£17,942,000 |
|
Total Fixed Assets |
£4,270,000 |
-£5,909,000 |
£728,000 |
£15,484,000 |
£18,165,000 |
|
Stock |
£34,163,000 |
£26,129,000 |
0 |
0 |
0 |
|
Trade Debtors |
£273,000 |
£54,000 |
0 |
0 |
0 |
|
Cash |
£74,540,000 |
£5,255,000 |
0 |
0 |
0 |
|
Other Debtors |
£5,411,000 |
£1,270,000 |
£14,704,000 |
0 |
0 |
|
Miscellaneous Current
Assets |
0 |
0 |
0 |
0 |
0 |
|
Total Current Assets |
£114,387,000 |
£32,708,000 |
£14,704,000 |
0 |
0 |
|
Trade Creditors |
£19,370,000 |
0 |
0 |
0 |
0 |
|
Bank Loans &
Overdrafts |
0 |
£48,000 |
£9,575,000 |
£8,745,000 |
£11,905,000 |
|
Other Short Term Finance |
£19,205,000 |
£19,145,000 |
0 |
0 |
0 |
|
Miscellaneous Current
Liabilities |
£32,039,000 |
£1,436,000 |
£42,000 |
£668,000 |
£203,000 |
|
Total Current
Liabilities |
£70,614,000 |
£20,629,000 |
£9,617,000 |
£9,413,000 |
£12,108,000 |
|
Bank Loans &
Overdrafts and LTL |
£2,718,000 |
£49,000 |
£9,575,000 |
£8,745,000 |
£11,905,000 |
|
Other Long Term Finance |
£29,000 |
0 |
0 |
0 |
0 |
|
Total Long Term
Liabilities |
£2,718,000 |
£1,000 |
0 |
0 |
0 |
Capital &
Reserves
|
Date Of Accounts |
02/03/13 |
25/02/12 |
26/02/11 |
27/02/10 |
28/02/09 |
|
Called Up Share Capital |
£5,000,000 |
£5,000,000 |
£5,000,000 |
£5,000,000 |
£5,000,000 |
|
P & L Account
Reserve |
£40,325,000 |
£1,169,000 |
£815,000 |
£1,071,000 |
£1,057,000 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£45,325,000 |
£6,169,000 |
£5,815,000 |
£6,071,000 |
£6,057,000 |
Other Financial
Items
|
Date Of Accounts |
02/03/13 |
25/02/12 |
26/02/11 |
27/02/10 |
28/02/09 |
|
Net Worth |
£45,325,000 |
£14,078,000 |
£5,087,000 |
£5,237,000 |
-£11,885,000 |
|
Working Capital |
£43,773,000 |
£12,079,000 |
£5,087,000 |
-£9,413,000 |
-£12,108,000 |
|
Total Assets |
£118,657,000 |
£26,799,000 |
£15,432,000 |
£15,484,000 |
£18,165,000 |
|
Total Liabilities |
£73,332,000 |
£20,630,000 |
£9,617,000 |
£9,413,000 |
£12,108,000 |
|
Net Assets |
£45,325,000 |
£6,169,000 |
£5,815,000 |
£6,071,000 |
£6,057,000 |
Miscellaneous
|
Date Of Accounts |
02/03/13 |
|
25/02/12 |
|
26/02/11 |
|
27/02/10 |
|
28/02/09 |
|
Contingent Liability |
YES |
|
YES |
|
YES |
|
YES |
|
YES |
|
Capital Employed |
£48,043,000 |
|
£6,170,000 |
|
£5,815,000 |
|
£6,071,000 |
|
£6,057,000 |
|
Number of Employees |
5575 |
|
65 |
|
- |
|
- |
|
- |
Ratios
|
Date Of Accounts |
02/03/13 |
25/02/12 |
26/02/11 |
27/02/10 |
28/02/09 |
|
Pre-tax profit margin % |
16.35 |
27.54 |
- |
30.09 |
23.61 |
|
Current ratio |
1.62 |
1.59 |
1.53 |
- |
- |
|
Sales/Net Working
Capital |
7.22 |
0.21 |
- |
-0.46 |
-0.36 |
|
Gearing % |
6 |
0.80 |
164.70 |
144 |
196.50 |
|
Equity in % |
38.20 |
17.80 |
39.50 |
41.40 |
2716.10 |
|
Creditor Days |
22.75 |
- |
- |
- |
- |
|
Debtor Days |
0.32 |
7.62 |
- |
- |
- |
|
Liquidity/Acid Test |
1.13 |
0.31 |
1.52 |
- |
- |
|
Return On Capital
Employed % |
107.52 |
11.50 |
-6.27 |
21.46 |
16.98 |
|
Return On Total Assets
Employed % |
43.53 |
2.64 |
-2.36 |
8.41 |
5.66 |
|
Current Debt Ratio |
1.55 |
3.34 |
1.65 |
1.55 |
1.99 |
|
Total Debt Ratio |
1.61 |
3.34 |
1.65 |
1.55 |
1.99 |
|
Stock Turnover Ratio % |
10.81 |
1013.53 |
- |
- |
- |
|
Return on Net Assets
Employed % |
113.97 |
11.50 |
-6.27 |
21.46 |
16.98 |
ADDITIONAL INFORMATION
Current Company
Secretary
|
Name |
Date of Birth |
21/06/1964 |
|
|
Officers Title |
Ms |
Nationality |
|
|
Present Appointments |
134 |
Function |
Company Secretary |
|
Appointment Date |
19/08/2005 |
|
|
|
Address |
Burnside House Maxwell
Place, Langholm, Dumfriesshire, DG13 0DY |
||
|
Auditors |
KPMG LLP |
|
Auditor Comments |
The audit report
contains no adverse comments |
|
Bankers |
BARCLAYS BANK PLC |
|
Bank Branch Code |
20-48-46 |
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
04/01/2014 |
New Accounts Filed |
|
04/01/2014 |
New Accounts Filed |
|
07/06/2013 |
Annual Returns |
|
03/12/2012 |
New Accounts Filed |
|
03/12/2012 |
New Accounts Filed |
|
07/09/2012 |
Mr D.O. Houston has left
the board |
|
15/06/2012 |
Annual Returns |
|
22/03/2012 |
New Board Member Mr D.O.
Houston appointed |
|
13/03/2012 |
New Board Member Mr D.O.
Houston appointed |
|
02/03/2012 |
Change of Name |
|
28/02/2012 |
New Board Member Mrs C.
Leigh appointed |
|
23/02/2012 |
Mr D.O. Houston has left
the board |
|
21/02/2012 |
New Board Member Mr S.R.
Simpson appointed |
|
21/02/2012 |
New Board Member Mrs C.
Leigh appointed |
|
24/01/2012 |
New Board Member Mr K.B.
Lee appointed |
Previous Company
Names
|
Date |
Previous Name |
|
29/02/2012 |
EWM (IP) LIMITED |
|
22/08/2005 |
PACIFIC SHELF 1316
LIMITED |
NOTES & COMMENTS
Commentary
|
No exact match CCJs are recorded
against the company. |
|
|
The credit limit on this
company has risen 983.3% in comparison to the previously suggested credit
limit. |
|
|
Sales in the latest
trading period increased 999.9% on the previous trading period. |
|
|
Net Worth increased by
222% during the latest trading period. |
|
|
A 342.8% growth in Total
Assets occurred during the latest trading period. |
|
|
Pre-tax profits
increased by 999.9% compared to the previous trading period. |
|
|
The company saw an increase
in their Cash Balance of 999.9% 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
registered name recently. |
|
|
The company was
established over 8 years ago. |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.50 |
|
UK Pound |
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.