MIRA INFORM REPORT
|
Report Date : |
02.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
REGGIE DESIGNS LIMITED |
|
|
|
|
Formerly Known as: |
EIRCO LIMITED |
|
|
|
|
Registered Office : |
14 Hanway Place
London W1t 1hd |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
30.04.2013 |
|
|
|
|
Date of Incorporation : |
28.08.2001 |
|
|
|
|
Com. Reg. No.: |
04277122 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Selling of ladies fashion garments. |
|
|
|
|
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 : |
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.
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
Company Name: REGGIE
DESIGNS LIMITED
Company No: 04277122
Registered
Address:
14 HANWAY PLACE
LONDON
W1T 1HD
Company
details
Registered Address
14 HANWAY PLACE
LONDON
W1T 1HD
Trading Address
14 Hanway Place
London
W1T 1HD
Website Address --
Telephone Number 02075809323
Incorporation Date 28/08/2001
Previous Name EIRCO LIMITED
Type Private limited with Share Capital
Date of Change 30/10/2001
Filing Date of Accounts 17/03/2014
Currency GBP
Share Capital £2
SIC07 14132
SIC07 Description MANUFACTURE OF OTHER WOMEN'S OUTERWEAR
Principal Activity Selling of ladies fashion garments.
Commentary
|
No exact match CCJs
are recorded against the company. |
|
There has been no significant change in the company's
credit rating. |
|
The credit limit on this company has risen 33.3% in
comparison to the previously suggested credit limit. |
|
There is insufficient data to indicate a change in this
company's percentage of sales. |
|
Net Worth increased by 184.3% during the latest trading
period. |
|
A 6.5% decline in Total Assets occurred during the latest
trading period. |
|
There is insufficient data to indicate a change in this
company's pre-tax profit. |
|
The company saw an increase in their Cash Balance of 29.4%
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 movement in accumulated earnings would indicate that
the company made a profit after tax and other appropriations, including
dividends. |
|
The company was established over 12 years ago. |
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 - |
- |
Current
Directors
|
Name |
Date
of Birth |
11/07/1961 |
|
|
Officers
Title |
Mr |
Nationality |
Irish |
|
Present
Appointments |
4 |
Function |
Director |
|
Appointment
Date |
23/10/2001 |
||
|
Address |
Dunwiley Dunwiley, Stranorlar, Donegal |
||
|
Other
Actions |
|||
|
Name |
Date
of Birth |
16/09/1942 |
|
|
Officers
Title |
Mr |
Nationality |
Irish |
|
Present
Appointments |
7 |
Function |
Director |
|
Appointment
Date |
01/02/2004 |
||
|
Address |
Hillhead, Castlefin, Lifford, County Donegal |
||
|
Other
Actions |
|||
Current
Company Secretary
|
Name |
Date
of Birth |
16/09/1942 |
|
|
Officers
Title |
Mr |
Nationality |
Irish |
|
Present
Appointments |
7 |
Function |
Company Secretary |
|
Appointment
Date |
23/10/2001 |
||
|
Address |
Hillhead, Castlefin, Lifford, County Donegal |
||
Top
20 Shareholders
|
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share
Count |
|
|
NENA MODELS HOLDINGS LTD |
GBP |
1 |
ORDINARY |
1 |
50 |
|
MR PAUL SHARMA |
GBP |
1 |
ORDINARY |
1 |
50 |
Financials
PROFIT & LOSS
|
Date Of Accounts |
30/04/13 |
(%) |
30/04/12 |
(%) |
30/04/11 |
(%) |
30/04/10 |
(%) |
30/04/09 |
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
Consolidated A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
Turnover |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost of Sales |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Gross Profit |
- |
- |
- |
- |
- |
- |
£1,402,965 |
-13% |
£1,612,715 |
|
Wages & Salaries |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Directors Emoluments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating Profit |
- |
- |
- |
- |
- |
- |
£481,958 |
159.6% |
-£808,386 |
|
Depreciation |
£1,779 |
-86.6% |
£13,266 |
18% |
£11,243 |
-12.5% |
£12,856 |
-49.7% |
£25,573 |
|
Audit Fees |
- |
- |
- |
- |
- |
- |
£6,700 |
- |
£6,700 |
|
Interest Payments |
- |
- |
- |
- |
- |
- |
£19,754 |
31% |
£15,083 |
|
Pre Tax Profit |
- |
- |
- |
- |
- |
- |
£462,972 |
156.5% |
-£819,253 |
|
Taxation |
- |
- |
- |
- |
- |
- |
- |
-100% |
£15,000 |
|
Profit After Tax |
- |
- |
- |
- |
- |
- |
£462,972 |
157.6% |
-£804,253 |
|
Dividends Payable |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Retained Profit |
- |
- |
- |
- |
- |
- |
£462,972 |
157.6% |
-£804,253 |
BALANCE SHEET
|
Date Of Accounts |
30/04/13 |
(%) |
30/04/12 |
(%) |
30/04/11 |
(%) |
30/04/10 |
(%) |
30/04/09 |
|
Tangible Assets |
£3 |
-99.7% |
£1,096 |
-88.5% |
£9,532 |
-48.9% |
£18,640 |
-40.8% |
£31,466 |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Fixed Assets |
£3 |
-99.7% |
£1,096 |
-88.5% |
£9,532 |
-48.9% |
£18,640 |
-40.8% |
£31,466 |
|
Stock |
£425,899 |
-4.1% |
£444,007 |
56.5% |
£283,787 |
17.4% |
£241,628 |
-59.6% |
£598,073 |
|
Trade Debtors |
£1,760,884 |
-21.5% |
£2,244,338 |
43.1% |
£1,568,762 |
478% |
£271,431 |
-47.4% |
£516,139 |
|
Cash |
£1,102,535 |
29.4% |
£851,764 |
-45.9% |
£1,574,062 |
44.7% |
£1,087,989 |
46.6% |
£741,986 |
|
Other Debtors |
£183,049 |
6.2% |
£172,433 |
- |
0 |
-100% |
£1,947,747 |
27.8% |
£1,524,525 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
£3,472,367 |
-6.5% |
£3,712,542 |
8.3% |
£3,426,611 |
-3.4% |
£3,548,795 |
5% |
£3,380,723 |
|
Trade Creditors |
£3,255,023 |
-10.1% |
£3,621,039 |
5.7% |
£3,425,328 |
953.6% |
£325,097 |
-28.4% |
£453,733 |
|
Bank Loans & Overdrafts |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Finance |
0 |
- |
0 |
- |
0 |
-100% |
£2,842,906 |
-9.6% |
£3,146,110 |
|
Miscellaneous Current Liabilities |
0 |
-100% |
£16,161 |
-41.9% |
£27,815 |
-94% |
£459,940 |
37% |
£335,826 |
|
Total Current Liabilities |
£3,255,023 |
-10.5% |
£3,637,200 |
5.3% |
£3,453,143 |
-4.8% |
£3,627,943 |
-7.8% |
£3,935,669 |
|
Bank Loans & Overdrafts and LTL |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Long Term Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
.
Capital
& Reserves
|
Date Of Accounts |
30/04/13 |
(%) |
30/04/12 |
(%) |
30/04/11 |
(%) |
30/04/10 |
(%) |
30/04/09 |
|
Called Up Share Capital |
£2 |
- |
£2 |
- |
£2 |
- |
£2 |
- |
£2 |
|
P & L Account Reserve |
£217,345 |
184.3% |
£76,436 |
549.6% |
-£17,002 |
71.9% |
-£60,510 |
88.4% |
-£523,482 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£217,347 |
184.3% |
£76,438 |
549.6% |
-£17,000 |
71.9% |
-£60,508 |
88.4% |
-£523,480 |
Other
Financial Items
|
Date Of Accounts |
30/04/13 |
(%) |
30/04/12 |
(%) |
30/04/11 |
(%) |
30/04/10 |
(%) |
30/04/09 |
|
Net Worth |
£217,347 |
184.3% |
£76,438 |
549.6% |
-£17,000 |
71.9% |
-£60,508 |
88.4% |
-£523,480 |
|
Working Capital |
£217,344 |
188.5% |
£75,342 |
384% |
-£26,532 |
66.5% |
-£79,148 |
85.7% |
-£554,946 |
|
Total Assets |
£3,472,370 |
-6.5% |
£3,713,638 |
8.1% |
£3,436,143 |
-3.7% |
£3,567,435 |
4.5% |
£3,412,189 |
|
Total Liabilities |
£3,255,023 |
-10.5% |
£3,637,200 |
5.3% |
£3,453,143 |
-4.8% |
£3,627,943 |
-7.8% |
£3,935,669 |
|
Net Assets |
£217,347 |
184.3% |
£76,438 |
549.6% |
-£17,000 |
71.9% |
-£60,508 |
88.4% |
-£523,480 |
Cash
Flow
|
Date Of Accounts |
30/04/13 |
(%) |
30/04/12 |
(%) |
30/04/11 |
(%) |
30/04/10 |
(%) |
30/04/09 |
|
Net Cashflow from Operations |
- |
- |
- |
- |
- |
- |
£106,384 |
-27.4% |
£146,545 |
|
Net Cashflow before Financing |
- |
- |
- |
- |
- |
-100% |
£346,004 |
283.5% |
£90,224 |
|
Net Cashflow from Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Increase in Cash |
- |
- |
- |
- |
- |
- |
£346,004 |
283.5% |
£90,224 |
Miscellaneous
|
Date Of Accounts |
30/04/13 |
(%) |
30/04/12 |
(%) |
30/04/11 |
(%) |
30/04/10 |
(%) |
30/04/09 |
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
£217,347 |
184.3% |
£76,438 |
549.6% |
-£17,000 |
71.9% |
-£60,508 |
88.4% |
-£523,480 |
|
Number of Employees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Auditors |
AVID PARTNERS |
||||||||
|
Auditor Comments |
The audit report contains no adverse comments |
||||||||
|
Bankers |
BARCLAYS BANK PLC |
||||||||
|
Bank Branch Code |
|||||||||
Ratios
|
Date Of Accounts |
30/04/13 |
30/04/12 |
30/04/11 |
30/04/10 |
30/04/09 |
|
Pre-tax profit margin % |
- |
- |
- |
- |
- |
|
Current ratio |
1.07 |
1.02 |
0.99 |
0.98 |
0.86 |
|
Sales/Net Working Capital |
- |
- |
- |
- |
- |
|
Gearing % |
0 |
0 |
0 |
0 |
0 |
|
Equity in % |
6.30 |
2.10 |
-0.50 |
-1.70 |
-15.30 |
|
Creditor Days |
- |
- |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid Test |
0.93 |
0.89 |
0.91 |
0.91 |
0.70 |
|
Return On Capital Employed % |
- |
- |
- |
-765.14 |
156.50 |
|
Return On Total Assets Employed % |
- |
- |
- |
12.97 |
-24 |
|
Current Debt Ratio |
14.97 |
47.58 |
-203.12 |
-59.95 |
-7.51 |
|
Total Debt Ratio |
14.97 |
47.58 |
-203.12 |
-59.95 |
-7.51 |
|
Stock Turnover Ratio % |
- |
- |
- |
- |
- |
|
Return on Net Assets Employed % |
- |
- |
- |
-765.14 |
156.50 |
Status
History
|
Date |
Description |
|
|
08/05/2013 |
Compulsory strike off cancelled |
|
|
02/05/2013 |
Dissolution (First Gazt) |
Event History
|
Date |
Description |
|
24/03/2014 |
New Accounts Filed |
|
24/03/2014 |
New Accounts Filed |
|
06/03/2014 |
Annual Returns |
|
22/05/2013 |
New Accounts Filed |
|
09/05/2013 |
Annual Returns |
|
07/05/2012 |
Annual Returns |
|
04/05/2012 |
New Accounts Filed |
|
13/07/2011 |
Annual Returns |
|
23/05/2011 |
New Accounts Filed |
|
23/05/2011 |
New Accounts Filed |
|
02/06/2010 |
New Accounts Filed |
|
02/06/2010 |
New Accounts Filed |
|
16/04/2010 |
Annual Returns |
|
10/05/2009 |
New Accounts Filed |
|
03/03/2009 |
Annual Returns |
Previous
Company Names
|
Date |
Previous Name |
|
30/10/2001 |
EIRCO LIMITED |
Statistics
|
Group |
1 companies |
|
Linkages |
|
|
Countries |
Summary
|
Holding Company |
- |
|
Ownership Status |
|
|
Ultimate Holding Company |
REGGIE DESIGNS LIMITED |
Group
structure
|
Company Name |
Registered
Number |
Latest Key
Financials |
Consol. Accounts |
Turnover |
|
|
|
04277122 |
30.04.2013 |
N |
Statistics
|
Group |
|
|
Linkages |
0 companies |
|
Countries |
In 1 countries |
Exact
CCJ Details
|
No CCJs found |
Possible
CCJs Details
|
There are no possible CCJ details |
Writ
Details
|
No writs found |
Mortgage
Details
|
Mortgage Type: |
GUARANTEE & DEBENTURE |
||
|
Date Charge
Created: |
08/08/06 |
||
|
Date Charge
Registered: |
12/08/06 |
||
|
Date Charge
Satisfied: |
- |
||
|
Status: |
OUTSTANDING |
||
|
Person(s)
Entitled: |
BARCLAYS BANK PLC |
||
|
Amount Secured: |
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 ACCOUNT
WHATSOEVER |
||
|
Details: |
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 |
||
Creditor
Details
|
Total Number |
Total Value |
|
|
Trade Creditors |
0 |
- |
|
No Creditor Data |
Previous
Director/Company Secretaries
|
Name |
Current
Directorships |
Previous
Directorships |
|
1 |
1 |
|
|
12 |
764 |
|
|
36 |
737 |
|
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. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
UK Pound |
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SDA |
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.