MIRA INFORM REPORT
|
Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
FLYERS GROUP PLC |
|
|
|
|
Formerly Known as: |
FLYERS CLOTHING COMPANY LIMITED |
|
|
|
|
Registered Office : |
Unit 1 Windsor Industrial Estate, 424 Ware Road, Hertford,
Hertfordshire, SG13 7EW |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
31.01.2013 |
|
|
|
|
Date of Incorporation : |
18.09.1990 |
|
|
|
|
Legal Form : |
Public Limited With Share Capital |
|
|
|
|
Line of Business : |
Subject is Engaged in Importers and Distributors of clothing garments
and trading with retail outlets. |
|
|
|
|
No. of Employees |
109 |
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 31st, 2014
|
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 |
|
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 |
REGISTERED NAME & COMPANY SUMMARY
FLYERS
GROUP PLC
DIRECTORS/MANAGEMENT
|
Total
Current Directors |
3 |
|
Total
Current Secretaries |
1 |
|
Total Previous
Directors / Company Secretaries |
11 |
Current Directors
|
Name |
Date of
Birth |
28/11/1963 |
|
|
Officers
Title |
Ms |
Nationality |
British |
|
Present
Appointments |
8 |
Function |
Director |
|
Appointment
Date |
07/12/2007 |
|
|
|
Address |
Unit 1 Windsor
Industrial Estate, 424 Ware Road, Hertford, Hertfordshire, SG13 7EW |
||
|
Name |
Date of
Birth |
24/09/1962 |
|
|
Officers
Title |
Mr |
Nationality |
British |
|
Present
Appointments |
7 |
Function |
Director |
|
Appointment
Date |
30/06/2011 |
|
|
|
Address |
Unit 1
Windsor Industrial Estate, 424 Ware Road, Hertford, Hertfordshire, SG13 7EW |
||
|
Name |
Date of Birth |
01/08/1965 |
|
|
Officers
Title |
Mr |
Nationality |
British |
|
Present
Appointments |
10 |
Function |
Director |
|
Appointment
Date |
18/09/1991 |
|
|
|
Address |
Unit 1
Windsor Industrial Estate, 424 Ware Road, Hertford, Hertfordshire, SG13 7EW |
||
Current
Company Secretary
|
Name |
Date of
Birth |
28/11/1963 |
|
|
Officers
Title |
Ms |
Nationality |
British |
|
Present
Appointments |
8 |
Function |
Company
Secretary |
|
Appointment
Date |
16/12/2005 |
|
|
|
Address |
Unit 1 Windsor
Industrial Estate, 424 Ware Road, Hertford, Hertfordshire, SG13 7EW |
||
Previous Director/Company Secretaries
|
Name |
Current
Directorships |
Previous
Directorships |
|
1 |
1 |
|
|
5 |
11 |
|
|
5 |
11 |
|
|
0 |
1 |
|
|
0 |
4 |
|
|
2 |
1 |
|
|
0 |
1 |
|
|
0 |
1 |
|
|
1 |
3 |
|
|
0 |
1 |
|
|
18 |
6 |
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
|
No CCJs
found |
Possible CCJs Details
|
There are
no possible CCJ details |
Writ Details
|
No writs
found |
Mortgage Details
|
Mortgage
Type: |
DEBENTURE |
||
|
Date
Charge Created: |
20/04/10 |
|
|
|
Date
Charge Registered: |
27/04/10 |
|
|
|
Date
Charge Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s)
Entitled: |
RBS
INVOICE FINANCE LIMITED |
||
|
Amount
Secured: |
ALL
MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF
THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE |
||
|
Details: |
FIXED AND
FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND
FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES,
FIXED PLANT & MACHINERY |
||
|
Mortgage
Type: |
DEBENTURE |
||
|
Date
Charge Created: |
15/02/10 |
|
|
|
Date
Charge Registered: |
18/02/10 |
|
|
|
Date
Charge Satisfied: |
01/07/11 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s)
Entitled: |
NATIONAL WESTMINSTER
BANK PLC |
||
|
Amount
Secured: |
|
||
|
Details: |
FIXED AND
FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND
FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES,
FIXED PLANT & MACHINERY |
||
|
Mortgage
Type: |
DEBENTURE |
||
|
Date
Charge Created: |
01/11/06 |
|
|
|
Date
Charge Registered: |
03/11/06 |
|
|
|
Date
Charge Satisfied: |
01/07/11 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s)
Entitled: |
CITY
INVOICE FINANCE LIMITED |
||
|
Amount
Secured: |
|
||
|
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 MACHINERYSEE THE MORTGAGECHARGE DOCUMENT FOR FULL DETAILS |
||
|
Mortgage
Type: |
DEBENTURE |
||
|
Date
Charge Created: |
22/08/06 |
|
|
|
Date
Charge Registered: |
12/09/06 |
|
|
|
Date
Charge Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s)
Entitled: |
CONANCE
LIMITED |
||
|
Amount
Secured: |
ALL
MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF
THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE |
||
|
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 SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS |
||
|
Mortgage
Type: |
MORTGAGE
DEBENTURE |
||
|
Date
Charge Created: |
05/09/06 |
|
|
|
Date
Charge Registered: |
06/09/06 |
|
|
|
Date
Charge Satisfied: |
15/04/10 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s)
Entitled: |
AIB GROUP
(UK) 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 |
||
|
Mortgage
Type: |
LEGAL
ASSIGNMENT |
||
|
Date
Charge Created: |
28/07/06 |
|
|
|
Date
Charge Registered: |
09/08/06 |
|
|
|
Date
Charge Satisfied: |
06/11/07 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s)
Entitled: |
HSBC BANK
PLC |
||
|
Amount
Secured: |
ALL
MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER |
||
|
Details: |
ANY
CREDIT BALANCES DUE TO THE COMPANY UNDER CONDITION 13 OF THE AGREEMENT FOR THE
PURCHASE OF DEBTSSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS |
||
|
Mortgage
Type: |
TRUST
DEED |
||
|
Date
Charge Created: |
28/06/06 |
|
|
|
Date
Charge Registered: |
18/07/06 |
|
|
|
Date
Charge Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s)
Entitled: |
BMG
(BRIDGEND) LIMITED |
||
|
Amount
Secured: |
ALL
MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF
THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE |
||
|
Details: |
ALL THE INTEREST
IN THE DEPOSIT ACCOUNTAND ALL MONEY FROM TIME TO TIME STANDING TO THE CREDIT
OF ORACCRUING TO THE DEPOSIT ACCOUNT SEE THE MORTGAGE CHARGE DOCUMENT FOR
FULL DETAILS |
||
|
Mortgage
Type: |
TRUST
DEED |
||
|
Date
Charge Created: |
28/06/06 |
|
|
|
Date
Charge Registered: |
18/07/06 |
|
|
|
Date
Charge Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s)
Entitled: |
THE
DESIGNER RETAIL OUTLET CENTRES (MANSFIELD) LIMITED PARTNERSHIP |
||
|
Amount
Secured: |
ALL MONIES
DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE
AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE |
||
|
Details: |
ALL THE
INTEREST IN THE DEPOSIT ACCOUNTAND ALL MONEY FROM TIME TO TIME STANDING TO
THE CREDIT OF ORACCRUING TO THE DEPOSIT ACCOUNT SEE THE MORTGAGE CHARGE
DOCUMENT FOR FULL DETAILS |
||
|
Mortgage
Type: |
TRUST
DEED |
||
|
Date
Charge Created: |
28/06/06 |
|
|
|
Date
Charge Registered: |
18/07/06 |
|
|
|
Date
Charge Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s)
Entitled: |
THE
DESIGNER RETAIL OUTLET CENTRES (YORK) LIMITED PARTNERSHIP |
||
|
Amount
Secured: |
ALL
MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF
THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE |
||
|
Details: |
ALL THE
INTEREST IN THE DEPOSIT ACCOUNTAND ALL MONEY FROM TIME TO TIME STANDING TO
THE CREDIT OF ORACCRUING TO THE DEPOSIT ACCOUNT SEE THE MORTGAGE CHARGE DOCUMENT
FOR FULL DETAILS |
||
|
Mortgage
Type: |
TRUST
DEED |
||
|
Date
Charge Created: |
28/06/06 |
|
|
|
Date
Charge Registered: |
18/07/06 |
|
|
|
Date
Charge Satisfied: |
- |
|
|
|
Status: |
OUTSTANDING |
|
|
|
Person(s)
Entitled: |
BMG (CHESHIRE
OAKS) LIMITED |
||
|
Amount
Secured: |
ALL
MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF
THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE |
||
|
Details: |
ALL THE INTEREST
IN THE DEPOSIT ACCOUNTAND ALL MONEY FROM TIME TO TIME STANDING TO THE CREDIT
OF ORACCRUING TO THE DEPOSIT ACCOUNT SEE THE MORTGAGE CHARGE DOCUMENT FOR
FULL DETAILS |
||
|
Mortgage
Type: |
FIXED
CHARGE ON PURCHASED DEBTS WHICH FAIL TO VEST |
||
|
Date
Charge Created: |
22/08/01 |
|
|
|
Date
Charge Registered: |
24/08/01 |
|
|
|
Date
Charge Satisfied: |
06/11/07 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s)
Entitled: |
HSBC
INVOICE FINANCE (UK) LTD |
||
|
Amount
Secured: |
ALL MONIES
DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER WHETHER ARISING UNDER THE AGREEMENT (AS DEFINED) |
||
|
Details: |
ALL DEBTS
PURCHASED OR PURPORTED TO BE PURCHASED BY THE CHARGEE PURSUANT TO AN
AGREEMENT FOR THE PURCHASE OF DEBTS BETWEEN THE SECURITY HOLDER AND THE
COMPANY (INCLUDING THE ASSOCIATED RIGHTS THERETO)WHICH FAIL TO VEST
EFFECTIVELY OR ABSOLUTELY IN THE SECURITY HOLDER FOR ANY REASON |
||
|
Mortgage
Type: |
DEBENTURE |
||
|
Date
Charge Created: |
21/06/00 |
|
|
|
Date
Charge Registered: |
01/07/00 |
|
|
|
Date
Charge Satisfied: |
06/11/07 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s)
Entitled: |
HSBC 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 BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED
PLANT AND MACHINERY |
||
|
Mortgage
Type: |
LEGAL
CHARGE |
||
|
Date
Charge Created: |
10/12/90 |
|
|
|
Date
Charge Registered: |
19/12/90 |
|
|
|
Date
Charge Satisfied: |
13/10/01 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s)
Entitled: |
BARCLAYS
BANK PLC |
||
|
Amount
Secured: |
ALL
MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER |
||
|
Details: |
27 OSBORN
ST LONDON BOROUGH OF TOWER HAMLETS. |
||
|
Mortgage
Type: |
DEBENTURE |
||
|
Date
Charge Created: |
02/11/90 |
|
|
|
Date
Charge Registered: |
08/11/90 |
|
|
|
Date
Charge Satisfied: |
04/10/01 |
|
|
|
Status: |
SATISFIED |
|
|
|
Person(s)
Entitled: |
BARCLAYS
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 BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED
PLANT AND MACHINERY |
||
SHARE
& SHARE CAPITAL INFORMATION
Top 20
Shareholders
|
Name |
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
BRAND
MACHINE LIMITED |
GBP |
40,000 |
ORDINARY
A |
1 |
80 |
|
BRAND
MACHINE LIMITED |
GBP |
10,000 |
ORDINARY |
1 |
20 |
|
BRAND
MACHINE LIMITED |
GBP |
3 |
ORDINARY
B |
1 |
0.01 |
PAYMENT
INFORMATION
|
Average
Invoice Value |
£763.15 |
|
Invoices available
|
29 |
|
Paid |
27 |
|
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 |
14 |
8 |
1 |
1 |
3 |
|
Outstanding |
0 |
1 |
1 |
0 |
0 |
GROUP
STRUCTURE & AFFILIATED COMPANIES
Statistics
|
Group |
4
companies |
|
Linkages |
|
|
Countries
|
Summary
|
Holding
Company |
THE BRAND
MACHINE LIMITED |
|
Ownership
Status |
Wholly
Owned |
|
Ultimate
Holding Company |
THE BRAND
MACHINE LIMITED |
Group structure
|
Company Name |
Registered Number |
Latest Key Financials |
Consol. Accounts |
Turnover |
|
07867629 |
31.01.2013 |
Y |
£10,920,561
|
|
|
02540759 |
31.01.2013 |
Y |
£7,859,195
|
|
|
06873920 |
31.01.2013 |
N |
|
|
|
07364792 |
31.01.2013 |
N |
£2,952,301
|
FINANCIAL
INFORMATION
Profit & Loss
|
Date Of Accounts |
31/01/13 |
(%) |
31/01/12 |
(%) |
31/01/11 |
(%) |
31/01/10 |
(%) |
31/01/09 |
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
Consolidated
A/cs |
Y |
(%) |
Y |
(%) |
Y |
(%) |
Y |
(%) |
N |
|
Turnover |
£7,859,195 |
-32.9% |
£11,710,263 |
15.5% |
£10,141,594 |
32.7% |
£7,643,295 |
10.8% |
£6,895,279 |
|
Export |
£767,145 |
-24.9% |
£1,021,502 |
-36.1% |
£1,598,269 |
- |
- |
- |
£727,022 |
|
Cost of
Sales |
£5,065,885 |
-37.1% |
£8,050,279 |
21.7% |
£6,612,246 |
27.5% |
£5,184,875 |
7.1% |
£4,838,954 |
|
Gross
Profit |
£2,793,310 |
-23.7% |
£3,659,984 |
3.7% |
£3,529,348 |
43.6% |
£2,458,420 |
19.6% |
£2,056,325 |
|
Wages
& Salaries |
£1,483,563 |
-8.3% |
£1,618,399 |
19% |
£1,359,528 |
15.8% |
£1,173,731 |
15.6% |
£1,015,423 |
|
Directors
Emoluments |
£196,952 |
46.7% |
£134,296 |
73.7% |
£77,337 |
-33.7% |
£116,704 |
739.4% |
£13,904 |
|
Operating
Profit |
£564,430 |
-17.4% |
£683,669 |
-21.9% |
£875,932 |
242.7% |
£255,585 |
11.3% |
£229,608 |
|
Depreciation |
£147,378 |
1.5% |
£145,181 |
66.7% |
£87,113 |
44.6% |
£60,248 |
-7.2% |
£64,925 |
|
Audit
Fees |
£15,140 |
44.2% |
£10,500 |
- |
£10,500 |
5% |
£10,000 |
- |
£10,000 |
|
Interest
Payments |
£129,472 |
-25.6% |
£173,905 |
38% |
£126,052 |
156.9% |
£49,073 |
9.5% |
£44,830 |
|
Pre Tax
Profit |
£434,958 |
-14.7% |
£509,764 |
-32% |
£749,889 |
262.1% |
£207,078 |
11.7% |
£185,459 |
|
Taxation |
-£105,182 |
17% |
-£126,792 |
38.6% |
-£206,348 |
-373.9% |
-£43,543 |
4.7% |
-£45,693 |
|
Profit
After Tax |
£329,776 |
-13.9% |
£382,972 |
-29.5% |
£543,541 |
232.4% |
£163,535 |
17% |
£139,766 |
|
Dividends
Payable |
£78,000 |
- |
£78,000 |
- |
£78,000 |
- |
£78,000 |
- |
£78,000 |
|
Retained
Profit |
£251,776 |
-17.4% |
£304,972 |
-34.5% |
£465,541 |
444.3% |
£85,535 |
38.5% |
£61,766 |
Balance Sheet
|
Date Of Accounts |
31/01/13 |
(%) |
31/01/12 |
(%) |
31/01/11 |
(%) |
31/01/10 |
(%) |
31/01/09 |
|
Tangible
Assets |
£511,365 |
-6.8% |
£548,925 |
11.6% |
£491,820 |
114.1% |
£229,703 |
3.4% |
£222,146 |
|
Intangible
Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total
Fixed Assets |
£511,365 |
-6.8% |
£548,925 |
11.6% |
£491,820 |
114.1% |
£229,703 |
3.4% |
£222,146 |
|
Stock |
£1,147,869 |
-45.6% |
£2,111,225 |
45.5% |
£1,451,423 |
207.5% |
£472,004 |
0.1% |
£471,742 |
|
Trade
Debtors |
£580,019 |
-23.8% |
£761,107 |
-8.5% |
£831,588 |
41.1% |
£589,514 |
-29.4% |
£834,873 |
|
Cash |
£215,450 |
3% |
£209,124 |
-38.2% |
£338,477 |
17.2% |
£288,819 |
272.6% |
£77,510 |
|
Other
Debtors |
£875,766 |
35.2% |
£647,636 |
37.8% |
£469,936 |
13% |
£415,771 |
62.5% |
£255,875 |
|
Miscellaneous
Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total
Current Assets |
£2,819,104 |
-24.4% |
£3,729,092 |
20.6% |
£3,091,424 |
75% |
£1,766,108 |
7.7% |
£1,640,000 |
|
Trade
Creditors |
£428,448 |
-61.4% |
£1,109,544 |
39.4% |
£795,864 |
-23% |
£1,033,310 |
11.2% |
£929,452 |
|
Bank
Loans & Overdrafts |
£21,483 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other
Short Term Finance |
£628,059 |
-6.6% |
£672,138 |
21% |
£555,588 |
222.3% |
£172,381 |
-45.8% |
£318,073 |
|
Miscellaneous
Current Liabilities |
£574,972 |
-45% |
£1,044,761 |
-5.6% |
£1,106,384 |
490.9% |
£187,242 |
100.3% |
£93,481 |
|
Total
Current Liabilities |
£1,652,962 |
-41.5% |
£2,826,443 |
15% |
£2,457,836 |
76.5% |
£1,392,933 |
3.9% |
£1,341,006 |
|
Bank
Loans & Overdrafts and LTL |
£116,316 |
-3.6% |
£120,676 |
42.6% |
£84,655 |
206% |
£27,666 |
-12.1% |
£31,463 |
|
Other
Long Term Finance |
£94,833 |
32.4% |
£71,600 |
77% |
£40,458 |
- |
0 |
- |
0 |
|
Total Long
Term Liabilities |
£94,833 |
-21.4% |
£120,676 |
42.6% |
£84,655 |
206% |
£27,666 |
-12.1% |
£31,463 |
Capital & Reserves
|
Date Of Accounts |
31/01/13 |
(%) |
31/01/12 |
(%) |
31/01/11 |
(%) |
31/01/10 |
(%) |
31/01/09 |
|
Called Up
Share Capital |
£50,003 |
- |
£50,003 |
- |
£50,003 |
- |
£50,003 |
- |
£50,003 |
|
P & L
Account Reserve |
£1,532,671 |
19.7% |
£1,280,895 |
29.3% |
£990,750 |
88.6% |
£525,209 |
19.5% |
£439,674 |
|
Revaluation
Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder
Funds |
£1,582,674 |
18.9% |
£1,330,898 |
27.9% |
£1,040,753 |
80.9% |
£575,212 |
17.5% |
£489,677 |
Other Financial Items
|
Date Of Accounts |
31/01/13 |
(%) |
31/01/12 |
(%) |
31/01/11 |
(%) |
31/01/10 |
(%) |
31/01/09 |
|
Net Worth |
£1,582,674 |
18.9% |
£1,330,898 |
27.9% |
£1,040,753 |
80.9% |
£575,212 |
17.5% |
£489,677 |
|
Working
Capital |
£1,166,142 |
29.2% |
£902,649 |
42.5% |
£633,588 |
69.8% |
£373,175 |
24.8% |
£298,994 |
|
Total
Assets |
£3,330,469 |
-22.1% |
£4,278,017 |
19.4% |
£3,583,244 |
79.5% |
£1,995,811 |
7.2% |
£1,862,146 |
|
Total
Liabilities |
£1,747,795 |
-40.7% |
£2,947,119 |
15.9% |
£2,542,491 |
79% |
£1,420,599 |
3.5% |
£1,372,469 |
|
Net
Assets |
£1,582,674 |
18.9% |
£1,330,898 |
27.9% |
£1,040,753 |
80.9% |
£575,212 |
17.5% |
£489,677 |
Cash Flow
|
Date Of Accounts |
31/01/13 |
(%) |
31/01/12 |
(%) |
31/01/11 |
(%) |
31/01/10 |
(%) |
31/01/09 |
|
Net
Cashflow from Operations |
- |
- |
£534,171 |
-8.3% |
£582,579 |
39.7% |
£417,013 |
496.5% |
£69,909 |
|
Net
Cashflow before Financing |
- |
100% |
-£48,650 |
-175.3% |
£64,607 |
-70.6% |
£219,819 |
268.7% |
-£130,305 |
|
Net
Cashflow from Financing |
- |
- |
-£53,573 |
-258.4% |
-£14,949 |
-75.7% |
-£8,510 |
25.5% |
-£11,419 |
|
Increase
in Cash |
- |
- |
-£102,223 |
-305.9% |
£49,658 |
-76.5% |
£211,309 |
249.1% |
-£141,724 |
Miscellaneous
|
Date Of Accounts |
31/01/13 |
(%) |
31/01/12 |
(%) |
31/01/11 |
(%) |
31/01/10 |
(%) |
31/01/09 |
|
Contingent
Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital
Employed |
£1,677,507 |
15.6% |
£1,451,574 |
29% |
£1,125,408 |
86.7% |
£602,878 |
15.7% |
£521,140 |
|
Number of
Employees |
109 |
-17.4% |
132 |
21.1% |
109 |
45.3% |
75 |
8.7% |
69 |
|
Auditors |
GRANT
THORNTON UK LLP |
||||||||
|
Auditor
Comments |
The audit
report contains no adverse comments |
||||||||
|
Bankers |
NATIONAL
WESTMINSTER BANK PLC |
||||||||
|
Bank
Branch Code |
56-00-27 |
||||||||
Ratios
|
Date Of Accounts |
31/01/13 |
31/01/12 |
31/01/11 |
31/01/10 |
31/01/09 |
|
Pre-tax
profit margin % |
5.53 |
4.35 |
7.39 |
2.71 |
2.69 |
|
Current
ratio |
1.71 |
1.32 |
1.26 |
1.27 |
1.22 |
|
Sales/Net
Working Capital |
6.74 |
12.97 |
16.01 |
20.48 |
23.06 |
|
Gearing % |
7.30 |
9.10 |
8.10 |
4.80 |
6.40 |
|
Equity in
% |
47.50 |
31.10 |
29 |
28.80 |
26.30 |
|
Creditor
Days |
19.84 |
34.48 |
28.56 |
49.20 |
49.06 |
|
Debtor
Days |
26.86 |
23.65 |
29.84 |
28.07 |
44.07 |
|
Liquidity/Acid
Test |
1.01 |
0.57 |
0.66 |
0.92 |
0.87 |
|
Return On
Capital Employed % |
25.92 |
35.11 |
66.63 |
34.34 |
35.58 |
|
Return On
Total Assets Employed % |
13.05 |
11.91 |
20.92 |
10.37 |
9.95 |
|
Current
Debt Ratio |
1.04 |
2.12 |
2.36 |
2.42 |
2.73 |
|
Total
Debt Ratio |
1.10 |
2.21 |
2.44 |
2.46 |
2.80 |
|
Stock
Turnover Ratio % |
14.60 |
18.02 |
14.31 |
6.17 |
6.84 |
|
Return on
Net Assets Employed % |
27.48 |
38.30 |
72.05 |
36 |
37.87 |
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 |
3 |
£2,870 |
|
Company
Name |
Amount |
Statement
Date |
|
£1,205 |
12/12/2012 |
|
|
£1,050 |
16/09/2009 |
|
|
£615 |
29/04/2010 |
FOREIGN
EXCHANGE RATES
N/a
ADDITIONAL
INFORMATION
Status History
|
No Status
History found |
*Event History
|
Date |
Description |
|
13/06/2014 |
Ms D.J.
Wilson has left the board |
|
22/02/2014 |
Annual
Returns |
|
14/08/2013 |
Mr D.A. Murray
has left the board |
|
10/08/2013 |
New
Accounts Filed |
|
10/08/2013 |
New
Accounts Filed |
|
08/05/2013 |
Annual
Returns |
|
03/05/2013 |
Mr R.M.
Farrow has left the board |
|
08/08/2012 |
New
Accounts Filed |
|
08/08/2012 |
New
Accounts Filed |
|
04/02/2012 |
Annual
Returns |
|
01/08/2011 |
New
Accounts Filed |
|
01/08/2011 |
New
Accounts Filed |
|
13/07/2011 |
New Board
Member Mr I.A. Cooper appointed |
|
05/07/2011 |
New Board
Member Mr I.A. Cooper appointed |
|
04/07/2011 |
New Board
Member Mr R.M. Farrow appointed |
Previous Company Names
|
Date |
Previous Name |
Companies House Documents |
|
18/11/2003 |
FLYERS
CLOTHING COMPANY LIMITED |
NOTES
& COMMENTS
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 fallen 23.1% in comparison to the previously
suggested credit limit. |
|
|
Sales in
the latest trading period decreased 32.9% on the previous trading period. |
|
|
Net Worth
increased by 18.9% during the latest trading period. |
|
|
A 22.1%
decline in Total Assets occurred during the latest trading period. |
|
|
Pre-tax profits
decreased by 14.7% compared to the previous trading period. |
|
|
The
company saw an increase in their Cash Balance of 3% during the latest trading
period. |
|
|
The audit
report contains no adverse comments. |
|
|
The company
has undergone recent changes in its directorships. |
|
|
The
company is part of a group. |
|
|
The
company was established over 23 years ago. |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.28 |
|
UK Pound |
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.