|
Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
BANDANA LIMITED |
|
|
|
|
Registered Office : |
3rd Floor 207, Regent Street, London W1B 3HH |
|
|
|
|
Country : |
United
Kingdom |
|
|
|
|
Financials (as on) : |
31.05.2013 |
|
|
|
|
Date of Incorporation : |
14.03.2000 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Wholesale trade of womens clothing and accessories |
|
|
|
|
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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
United
Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
|
Company Name: |
BANDANA LIMITED |
|
Company Number: |
03947271 |
|
Registered Address |
3RD FLOOR 207 |
Trading Address |
Alexander House |
|
|
REGENT STREET |
|
3 Shakespeare Road |
|
|
LONDON |
|
London |
|
|
W1B 3HH |
|
London |
|
|
|
|
N3 1XE |
|
|
|
|
|
|
Incorporate Date |
14/03/2000 |
Type |
Private limited with Share Capital |
|
FTSE Index |
- |
|
|
|
Filing Date of Accounts |
24/09/2013 |
Currency |
GBP |
|
Share Capital |
£2 |
SIC07 |
46420 |
|
|
|
SIC07 Description |
WHOLESALE OF CLOTHING AND FOOTWEAR |
|
|
|
Principal Activity |
Wholesale trade of womens clothing and accessories |
Current Directors
|
Name |
Date of Birth |
10/09/1947 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
4 |
Function |
Director |
|
Appointment Date |
10/01/2007 |
|
|
|
Address |
3rd Floor 207 Regent Street, London, W1B 3HH |
||
|
Name |
Date of Birth |
17/07/1948 |
|
|
Officers Title |
Ms |
Nationality |
British |
|
Present Appointments |
3 |
Function |
Director |
|
Appointment Date |
10/01/2007 |
|
|
|
Address |
3rd Floor 207 Regent Street, London, W1B 3HH |
||
Previous
Director/Company Secretaries
|
Name |
Current Directorships |
Previous Directorships |
|
21 |
4 |
|
|
6 |
1 |
|
|
6 |
2 |
|
|
6 |
2 |
|
|
9352 |
196298 |
|
|
11630 |
198011 |
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
|
No CCJs found |
Possible CCJs
Details
|
There are no possible CCJ details |
Writ Details
|
No writs found |
Top 20
Shareholders
|
Name |
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
CHARLES COLIN STONE |
GBP |
1 |
ORDINARY |
1 |
50 |
|
MRS ANGELA IRENE STONE |
GBP |
1 |
ORDINARY |
1 |
50 |
Payment Trend
Stable
Within terms
Within terms 91+ Days
Mortgage Details
|
Mortgage Type: |
|
||
|
Date Charge Created: |
14/02/14 |
|
|
|
Date Charge Registered: |
17/02/14 |
|
|
|
Date Charge Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s) Entitled: |
HITACHI CAPITAL (UK) PLC; |
||
|
Amount Secured: |
|
||
|
Details: |
DEBENTURECONTAINS FIXED CHARGE.CONTAINSFLOATING CHARGE.FLOATING CHARGE
COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.NOTIFICATION OF ADDITION
TO OR AMENDMENT OF CHARGE. |
||
|
Mortgage Type: |
LEASE |
||
|
Date Charge Created: |
01/09/09 |
|
|
|
Date Charge Registered: |
16/09/09 |
|
|
|
Date Charge Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s) Entitled: |
KURT WILHELM WEINBERG AND CHARLOTTE STEFANIE WEINBERG |
||
|
Amount Secured: |
£9,000.00 DUE OR TO BECOME DUE FROM THECOMPANY TO THE CHARGEE |
||
|
Details: |
THE SUM OF £9,000.00 |
||
|
Mortgage Type: |
DEBENTURE |
||
|
Date Charge Created: |
23/08/07 |
|
|
|
Date Charge Registered: |
04/09/07 |
|
|
|
Date Charge Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s) Entitled: |
NATIONAL WESTMINSTER BANK PLC |
||
|
Amount Secured: |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY 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 UNCALLED CAPITAL BUILDINGS
FIXTURES PLANT ANDMACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS |
||
Creditor Details
|
|
Total Number |
Total Value |
|
Trade Creditors |
0 |
- |
|
No Creditor Data |
Trade Debtors / Bad Debt Detail
|
|
Total Number of Documented Trade |
Total Value of Documented Trade |
|
Trade Debtors |
- |
- |
|
No Debtor Data |
|
Average Invoice Value |
£199.45 |
|
Invoices available |
4 |
|
Paid |
2 |
|
Outstanding |
2 |
|
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 |
2 |
0 |
0 |
0 |
0 |
|
Outstanding |
0 |
2 |
0 |
0 |
0 |
Statistics
|
Group |
2 companies |
|
Linkages |
|
|
Countries |
Summary
|
Holding Company |
BANDANA LIMITED |
|
Ownership Status |
Ultimately Owned |
|
Ultimate Holding Company |
BANDANA LIMITED |
Group structure
|
Company Name |
|
Registered Number |
Latest Key Financials |
Consol. Accounts |
Turnover |
|
|
03947271 |
31.05.2013 |
N |
|
|
|
|
06617950 |
30.06.2013 |
N |
|
Profit & Loss
|
Date Of Accounts |
31/05/13 |
(%) |
31/05/12 |
(%) |
30/06/11 |
(%) |
30/06/10 |
(%) |
30/06/09 |
|
Weeks |
52 |
(%) |
48 |
(%) |
52 |
(%) |
52 |
(%) |
65 |
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
Consolidated A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
Turnover |
- |
- |
£1,720,290 |
-25.7% |
£2,316,383 |
-4.9% |
£2,434,609 |
40.2% |
£1,736,542 |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost of Sales |
- |
-100% |
£1,289,795 |
-26.3% |
£1,749,481 |
-7.4% |
£1,889,595 |
39.7% |
£1,352,921 |
|
Gross Profit |
- |
- |
£430,495 |
-24.1% |
£566,902 |
4% |
£545,014 |
42.1% |
£383,621 |
|
Wages & Salaries |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Directors Emoluments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating Profit |
- |
- |
£95,586 |
2.7% |
£93,073 |
-36.5% |
£146,559 |
-5.4% |
£154,982 |
|
Depreciation |
£5,917 |
- |
£5,917 |
- |
- |
- |
- |
-100% |
£416 |
|
Audit Fees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Interest Payments |
- |
- |
£1,201 |
-10.3% |
£1,339 |
75.5% |
£763 |
-76.8% |
£3,292 |
|
Pre Tax Profit |
- |
- |
£94,385 |
2.9% |
£91,734 |
-37.1% |
£145,796 |
-3.9% |
£151,690 |
|
Taxation |
- |
- |
-£20,060 |
1% |
-£20,263 |
25.6% |
-£27,238 |
16.2% |
-£32,503 |
|
Profit After Tax |
- |
- |
£74,325 |
4% |
£71,471 |
-39.7% |
£118,558 |
-0.5% |
£119,187 |
|
Dividends Payable |
- |
- |
£119,215 |
48.2% |
£80,441 |
14.9% |
£70,000 |
25.7% |
£55,680 |
|
Retained Profit |
- |
- |
-£44,890 |
-400.4% |
-£8,970 |
-118.5% |
£48,558 |
-23.5% |
£63,507 |
Balance Sheet
|
Date Of Accounts |
31/05/13 |
(%) |
31/05/12 |
(%) |
30/06/11 |
(%) |
30/06/10 |
(%) |
30/06/09 |
|
Tangible Assets |
£510 |
-92.1% |
£6,427 |
-47.9% |
£12,344 |
-48.9% |
£24,178 |
999.9% |
£2,173 |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Fixed Assets |
£510 |
-92.1% |
£6,427 |
-47.9% |
£12,344 |
-48.9% |
£24,178 |
999.9% |
£2,173 |
|
Stock |
0 |
- |
0 |
- |
0 |
- |
0 |
-100% |
£12,000 |
|
Trade Debtors |
£450,943 |
-20.9% |
£569,812 |
33.2% |
£427,772 |
26.6% |
£337,915 |
8.9% |
£310,392 |
|
Cash |
0 |
- |
0 |
-100% |
£39,928 |
-73.1% |
£148,330 |
77.7% |
£83,459 |
|
Other Debtors |
0 |
- |
0 |
-100% |
£38,808 |
116.9% |
£17,891 |
2.1% |
£17,530 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
£450,943 |
-20.9% |
£569,812 |
12.5% |
£506,508 |
0.5% |
£504,136 |
19.1% |
£423,381 |
|
Trade Creditors |
£351,454 |
8.6% |
£323,723 |
-0.6% |
£325,834 |
-6.2% |
£347,333 |
21.6% |
£285,640 |
|
Bank Loans & Overdrafts |
0 |
-100% |
£112,896 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Liabilities |
0 |
-100% |
£44,045 |
-16.2% |
£52,553 |
66.6% |
£31,546 |
-19.2% |
£39,037 |
|
Total Current Liabilities |
£351,454 |
-26.9% |
£480,664 |
27% |
£378,387 |
-0.1% |
£378,879 |
16.7% |
£324,677 |
|
Bank Loans & Overdrafts and LTL |
0 |
-100% |
£112,896 |
- |
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 |
31/05/13 |
(%) |
31/05/12 |
(%) |
30/06/11 |
(%) |
30/06/10 |
(%) |
30/06/09 |
|
Called Up Share Capital |
£2 |
- |
£2 |
- |
£2 |
- |
£2 |
- |
£2 |
|
P & L Account Reserve |
£99,997 |
4.6% |
£95,573 |
-32% |
£140,463 |
-6% |
£149,433 |
48.1% |
£100,875 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder Funds |
£99,999 |
4.6% |
£95,575 |
-32% |
£140,465 |
-6% |
£149,435 |
48.1% |
£100,877 |
Other Financial
Items
|
Date Of Accounts |
31/05/13 |
(%) |
31/05/12 |
(%) |
30/06/11 |
(%) |
30/06/10 |
(%) |
30/06/09 |
|
Net Worth |
£99,999 |
4.6% |
£95,575 |
-32% |
£140,465 |
-6% |
£149,435 |
48.1% |
£100,877 |
|
Working Capital |
£99,489 |
11.6% |
£89,148 |
-30.4% |
£128,121 |
2.3% |
£125,257 |
26.9% |
£98,704 |
|
Total Assets |
£451,453 |
-21.7% |
£576,239 |
11.1% |
£518,852 |
-1.8% |
£528,314 |
24.1% |
£425,554 |
|
Total Liabilities |
£351,454 |
-26.9% |
£480,664 |
27% |
£378,387 |
-0.1% |
£378,879 |
16.7% |
£324,677 |
|
Net Assets |
£99,999 |
4.6% |
£95,575 |
-32% |
£140,465 |
-6% |
£149,435 |
48.1% |
£100,877 |
Miscellaneous
|
Date Of Accounts |
31/05/13 |
(%) |
31/05/12 |
(%) |
30/06/11 |
(%) |
30/06/10 |
(%) |
30/06/09 |
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
£99,999 |
4.6% |
£95,575 |
-32% |
£140,465 |
-6% |
£149,435 |
48.1% |
£100,877 |
Ratios
|
Date Of Accounts |
31/05/13 |
31/05/12 |
30/06/11 |
30/06/10 |
30/06/09 |
|
Pre-tax profit margin % |
- |
5.49 |
3.96 |
5.99 |
8.74 |
|
Current ratio |
1.28 |
1.19 |
1.34 |
1.33 |
1.30 |
|
Sales/Net Working Capital |
- |
19.30 |
18.08 |
19.44 |
17.59 |
|
Gearing % |
0 |
118.10 |
0 |
0 |
0 |
|
Equity in % |
22.20 |
16.60 |
27.10 |
28.30 |
23.70 |
|
Creditor Days |
- |
63.22 |
51.20 |
51.92 |
74.84 |
|
Debtor Days |
- |
111.29 |
67.22 |
50.52 |
81.32 |
|
Liquidity/Acid Test |
1.28 |
1.18 |
1.33 |
1.33 |
1.26 |
|
Return On Capital Employed % |
- |
98.75 |
65.30 |
97.56 |
150.37 |
|
Return On Total Assets Employed % |
- |
16.37 |
17.68 |
27.59 |
35.64 |
|
Current Debt Ratio |
3.51 |
5.02 |
2.69 |
2.53 |
3.21 |
|
Total Debt Ratio |
3.51 |
5.02 |
2.69 |
2.53 |
3.21 |
|
Stock Turnover Ratio % |
- |
- |
- |
- |
0.69 |
|
Return on Net Assets Employed % |
- |
98.75 |
65.30 |
97.56 |
150.37 |
N/a
Current Company
Secretary
|
Name |
Date of Birth |
10/09/1947 |
|
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
4 |
Function |
Company Secretary |
|
Appointment Date |
10/01/2007 |
|
|
|
Address |
3rd Floor 207 Regent Street, London, W1B 3HH |
||
|
Number of Employees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Auditors |
|
||||||||
|
Auditor Comments |
The company is exempt from audit |
||||||||
|
Bankers |
|
||||||||
|
Bank Branch Code |
|
||||||||
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
29/03/2014 |
Annual Returns |
|
30/09/2013 |
New Accounts Filed |
|
08/07/2013 |
New Accounts Filed |
|
08/07/2013 |
New Accounts Filed |
|
09/05/2013 |
Annual Returns |
|
06/04/2012 |
New Accounts Filed |
|
02/04/2012 |
Annual Returns |
|
30/03/2012 |
Change in Reg.Office |
|
17/08/2011 |
Change in Reg.Office |
|
17/08/2011 |
Change of Company Postcode |
|
12/04/2011 |
Annual Returns |
|
15/11/2010 |
New Accounts Filed |
|
15/06/2010 |
Annual Returns |
|
07/01/2010 |
New Accounts Filed |
|
07/01/2010 |
New Accounts Filed |
Previous Company
Names
|
No Previous Names found |
Commentary
No exact match
CCJs are recorded against the company.
Net Worth
increased by 4.6% during the latest trading period.
A 21.7% decline in
Total Assets occurred during the latest trading period.
The company is
exempt from audit.
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 has
changed its registered address recently.
The company was
established over 13 years ago.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.33 |
|
|
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.80.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NNA |
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.