MIRA INFORM REPORT

Report Date :

24.06.2014

IDENTIFICATION DETAILS

Name :	SHOP DIRECT HOME SHOPPING LIMITED

Formerly Known as :	LITTLEWOODS SHOP DIRECT HOME SHOPPING LIMITED

Registered Office :	First Floor, Skyways House, Speke Road, Speke, L70 1ab

Country :	united Kingdom

Financials (as on) :	30.06.2013

Date of Incorporation :	11.02.2003

Com. Reg. No.:	04663281

Legal Form :	Private limited with Share Capital

Line of Business :	· Engaged in retailing Multi-Brand Digital · Engaged in retail sale via Mail Order Houses or via Internet · Engaged in Internet and catalogue Home Shopping · Subject business areas are as follows:- § Buying Merchandising & Design § Warehousing & Returns (Fulfilment) § Ecommerce & IT § Customer Operations § Head office Operations § Financial Services § Marketing & Creative § Customer Intelligence & Experience § Business Support

No of Employees :	3959 (30.06.2013)

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

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 – March 31, 2014

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

united Kingdom

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate 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

SHOP DIRECT HOME SHOPPING LIMITED

Company No

04663281

Registered Address

FIRST FLOOR, SKYWAYS HOUSE
SPEKE ROAD
SPEKE
L70 1AB

Trading Address

First Floor, Skyways House
Speke Road
Speke
Liverpool, Merseyside
L70 1AB

Website Address http://www.shopdirect.com

Telephone Number 08442921000

TPS No

FPS No

Incorporation Date 11/02/2003

Previous Name LITTLEWOODS SHOP DIRECT HOME SHOPPING LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 06/05/2008

Filing Date of Accounts 25/11/2013

Currency GBP

Share Capital £100,000,000

Main business activity

· Engaged in retailing Multi-Brand Digital

· Engaged in retail sale via Mail Order Houses or via Internet

· Engaged in Internet and catalogue Home Shopping

· Subject business areas are as follows:-

§ Buying Merchandising & Design

§ Warehousing & Returns (Fulfilment)

§ Ecommerce & IT

§ Customer Operations

§ Head office Operations

§ Financial Services

§ Marketing & Creative

§ Customer Intelligence & Experience

§ Business Support

Commentary

Multiple CCJ's recorded against the company.

Sales in the latest trading period increased 2.2% on the previous trading period.

Net Worth increased by 23.5% during the latest trading period.

A 12.8% growth in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 115.5% compared to the previous trading period.

The company saw a decrease in their Cash Balance of 100% 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 11 years ago.

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	3	Total Value of Satisfied CCJs -	£14,028
Total Number of Writs -	-

Total Current Directors	8
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	3

Current Directors

Name	Michael Seal	Date of Birth	12/10/1948
Officers Title	Mr	Nationality	British
Present Appointments	125	Function	Director
Appointment Date	12/03/2008
Address	First Floor, Skyways House, Speke Road, Speke, Liverpool, L70 1AB

Name	Aidan Stuart Barclay	Date of Birth	28/01/1956
Officers Title	Mr	Nationality	British
Present Appointments	75	Function	Director
Appointment Date	12/03/2008
Address	First Floor, Skyways House, Speke Road, Speke, Liverpool, L70 1AB

Name	Mark McMenemy	Date of Birth	03/05/1958
Officers Title	Mr	Nationality	British
Present Appointments	11	Function	Director
Appointment Date	03/06/2013
Address	First Floor Skyways House Speke Road, Speke, Liverpool, L70 1AB

Name	David Wallace Kershaw	Date of Birth	31/07/1956
Officers Title	Mr	Nationality	British
Present Appointments	76	Function	Director
Appointment Date	22/02/2010
Address	First Floor Skyways House Speke Road, Speke, Liverpool, L70 1AB

Name	Howard Myles Barclay	Date of Birth	20/12/1959
Officers Title	Mr	Nationality	British
Present Appointments	36	Function	Director
Appointment Date	12/03/2008
Address	First Floor, Skyways House, Speke Road, Speke, Liverpool, L70 1AB

Name	Philip Leslie Peters	Date of Birth	07/08/1957
Officers Title	Mr	Nationality	British
Present Appointments	70	Function	Director
Appointment Date	12/03/2008
Address	First Floor, Skyways House, Speke Road, Speke, Liverpool, L70 1AB

Name	Stuart Andrew Winton	Date of Birth	18/02/1964
Officers Title	Mr	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	03/06/2013
Address	First Floor Skyways House Speke Road, Speke, Liverpool, L70 1AB

Name	Alexander David Baldock	Date of Birth	21/11/1970
Officers Title	Mr	Nationality	British
Present Appointments	7	Function	Director
Appointment Date	03/06/2013
Address	First Floor Skyways House Speke Road, Speke, Liverpool, L70 1AB

Current Company Secretary

Name	SHOP DIRECT SECRETARIAL SERVICES LTD	Date of Birth	-
Officers Title		Nationality	British
Present Appointments	91	Function	Company Secretary
Appointment Date	11/02/2003
Address	First Floor Skyways House,, Speke Road, Speke, Liverpool, L70 1AB

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
LITTLEWOODS LTD	GBP	100,000,000	ORDINARY	1	100

Profit & Loss

Date Of Accounts	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/04/10	(%)	30/04/09
Weeks	52	(%)	52	(%)	61	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£1,289,412,000	2.2%	£1,261,827,000	-16.6%	£1,513,108,000	15%	£1,315,624,000	-4.9%	£1,383,179,000
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	£785,219,000	3.1%	£761,910,000	-13%	£875,605,000	22.8%	£713,291,000	-3.7%	£740,609,000
Gross Profit	£504,193,000	0.9%	£499,917,000	-21.6%	£637,503,000	5.8%	£602,333,000	-6.3%	£642,570,000
Wages & Salaries	£92,395,000	-6%	£98,267,000	-15.7%	£116,501,000	15.5%	£100,899,000	-3.2%	£104,200,000
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	-	-	-	-	-	-	-	-	-
Depreciation	£27,677,000	5.2%	£26,304,000	-25.9%	£35,496,000	10.6%	£32,097,000	5%	£30,569,000
Audit Fees	£155,000	-	£155,000	-39.9%	£258,000	15.2%	£224,000	-8.2%	£244,000
Interest Payments	£1,390,000	-45.2%	£2,535,000	-25.4%	£3,400,000	34%	£2,537,000	-57.1%	£5,918,000
Pre Tax Profit	£7,523,000	115.5%	-£48,621,000	52.9%	-£103,149,000	-72.9%	-£59,675,000	39.4%	-£98,443,000
Taxation	-	-	-	-	-	100%	-£771,000	90.8%	-£8,389,000
Profit After Tax	£7,523,000	115.5%	-£48,621,000	52.9%	-£103,149,000	-70.6%	-£60,446,000	43.4%	-£106,832,000
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	£7,523,000	115.5%	-£48,621,000	52.9%	-£103,149,000	-70.6%	-£60,446,000	43.4%	-£106,832,000

Balance Sheet

Date Of Accounts	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/04/10	(%)	30/04/09
Tangible Assets	£86,003,000	-6.5%	£92,002,000	1.9%	£90,319,000	10.2%	£81,935,000	-13.8%	£95,095,000
Intangible Assets	£45,260,000	-9.3%	£49,897,000	-8.4%	£54,469,000	-8.3%	£59,416,000	-7.1%	£63,988,000
Total Fixed Assets	£131,263,000	-7.5%	£141,899,000	-2%	£144,788,000	2.4%	£141,351,000	-11.1%	£159,083,000
Stock	£98,847,000	-5.7%	£104,866,000	-14.4%	£122,436,000	2.8%	£119,153,000	3.2%	£115,509,000
Trade Debtors	£2,525,000	57%	£1,608,000	7%	£1,503,000	-45%	£2,734,000	58.9%	£1,721,000
Cash	0	-100%	£11,000	-77.6%	£49,000	-23.4%	£64,000	-36%	£100,000
Other Debtors	£376,338,000	29%	£291,658,000	2.3%	£285,195,000	33.8%	£213,161,000	-10.5%	£238,150,000
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£477,710,000	20%	£398,143,000	-2.7%	£409,183,000	22.1%	£335,112,000	-5.7%	£355,480,000
Trade Creditors	£195,163,000	5.3%	£185,259,000	11.6%	£165,997,000	5.9%	£156,738,000	7.9%	£145,219,000
Bank Loans & Overdrafts	£58,864,000	-12%	£66,911,000	-16%	£79,689,000	2.7%	£77,604,000	24.7%	£62,229,000
Other Short Term Finance	£73,196,000	923.6%	£7,151,000	-63%	£19,319,000	56.1%	£12,376,000	-61.1%	£31,817,000
Miscellaneous Current Liabilities	£151,345,000	5.4%	£143,659,000	12.2%	£128,019,000	42.9%	£89,612,000	-23.8%	£117,605,000
Total Current Liabilities	£478,568,000	18.8%	£402,980,000	2.5%	£393,024,000	16.9%	£336,330,000	-5.8%	£356,870,000
Bank Loans & Overdrafts and LTL	£82,098,000	-21%	£103,963,000	13.3%	£91,761,000	6.9%	£85,817,000	21.7%	£70,527,000
Other Long Term Finance	£536,000	-1.3%	£543,000	115.5%	£252,000	-72.3%	£909,000	-38.9%	£1,488,000
Total Long Term Liabilities	£23,234,000	-37.3%	£37,052,000	206.9%	£12,072,000	47%	£8,213,000	-1%	£8,298,000

Capital & Reserves

Date Of Accounts	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/04/10	(%)	30/04/09
Called Up Share Capital	£100,000,000	-84.5%	£646,000,000	-	£646,000,000	22.8%	£526,000,000	15.4%	£456,000,000
P & L Account Reserve	£7,171,000	101.3%	-£545,990,000	-9.8%	-£497,125,000	-26.1%	-£394,080,000	-28.5%	-£306,605,000
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£107,171,000	7.2%	£100,010,000	-32.8%	£148,875,000	12.9%	£131,920,000	-11.7%	£149,395,000

Other Financial Items

Date Of Accounts	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/04/10	(%)	30/04/09
Net Worth	£61,911,000	23.5%	£50,113,000	-46.9%	£94,406,000	30.2%	£72,504,000	-15.1%	£85,407,000
Working Capital	-£858,000	82.3%	-£4,837,000	-129.9%	£16,159,000	999.9%	-£1,218,000	12.4%	-£1,390,000
Total Assets	£608,973,000	12.8%	£540,042,000	-2.5%	£553,971,000	16.3%	£476,463,000	-7.4%	£514,563,000
Total Liabilities	£501,802,000	14%	£440,032,000	8.6%	£405,096,000	17.6%	£344,543,000	-5.6%	£365,168,000
Net Assets	£107,171,000	7.2%	£100,010,000	-32.8%	£148,875,000	12.9%	£131,920,000	-11.7%	£149,395,000

Miscellaneous

Date Of Accounts	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/04/10	(%)	30/04/09
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£130,405,000	-4.9%	£137,062,000	-14.8%	£160,947,000	14.9%	£140,133,000	-11.1%	£157,693,000
Number of Employees	3959	3.2%	3837	-3.7%	3984	6.3%	3749	-6%	3988
Auditors	DELOITTE LLP
Auditor Comments	The audit report contains no adverse comments

Ratios

Date Of Accounts	30/06/13	30/06/12	30/06/11	30/04/10	30/04/09
Pre-tax profit margin %	0.58	-3.85	-6.82	-4.54	-7.12
Current ratio	1	0.99	1.04	1	1
Sales/Net Working Capital	-1502.81	-260.87	93.64	-1080.15	-995.09
Gearing %	76.60	104	61.60	65.10	47.20
Equity in %	19	20.40	29.80	31.60	33.20
Creditor Days	55.09	53.44	46.84	43.36	38.21
Debtor Days	0.71	0.46	0.42	0.75	0.45
Liquidity/Acid Test	0.79	0.72	0.72	0.64	0.67
Return On Capital Employed %	5.76	-35.47	-64.08	-42.58	-62.42
Return On Total Assets Employed %	1.23	-9	-18.61	-12.52	-19.13
Current Debt Ratio	4.46	4.02	2.63	2.54	2.38
Total Debt Ratio	4.68	4.39	2.72	2.61	2.44
Stock Turnover Ratio %	7.66	8.31	8.09	9.05	8.35
Return on Net Assets Employed %	7.01	-48.61	-69.28	-45.23	-65.89

Status History

No Status History found

Event History

Date	Description
21/02/2014	Annual Returns
03/12/2013	New Accounts Filed
03/12/2013	New Accounts Filed
18/06/2013	New Board Member Mr M. McMenemy appointed
14/06/2013	Mr M. Newton-Jones has left the board
11/06/2013	New Board Member Mr A.D. Baldock appointed
11/06/2013	New Board Member Mr M. McMenemy appointed
11/06/2013	New Board Member Mr S.A. Winton appointed
09/03/2013	New Accounts Filed
09/03/2013	New Accounts Filed
01/03/2013	Annual Returns
12/03/2012	Annual Returns
13/02/2012	New Accounts Filed
13/02/2012	New Accounts Filed
30/01/2012	Mr S. Makin has left the board

Previous Company Names

Date	Previous Name
06/05/2008	LITTLEWOODS SHOP DIRECT HOME SHOPPING LIMITED
01/11/2005	LITTLEWOODS HOME SHOPPING LIMITED
20/02/2003	LITTLEWOODS5 LIMITED

Statistics

Group	85 companies
Linkages	26 companies
Countries	In 2 countries

Summary

Holding Company	LITTLEWOODS LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	LW HOLDINGS LTD

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
LW HOLDINGS LTD	N/A	-	-
SHOP DIRECT HOLDINGS L...	05059352	30.06.2013	Y	£1,697,800,000
CDMS LIMITED	00406869	30.06.2013	N	£7,632,000
INKFISH SERVICES L...	03789864	30.06.2013	N
TRANSACTIS LIMITED	04697004	30.06.2013	N
OLD HALL STREET PROP...	02765478	30.06.2013	N	£1,273,000
SHOP DIRECT LIMITED	04730752	30.06.2013	Y	£1,690,500,000
ROYAL WELSH WAREHO...	00533411	30.06.2013	N
MARCH COMPANY DIRE...	04736783	30.06.2013	N
ARNDALE PROPERTIES...	04768976	30.06.2013	N	£9,542,000
WHITE ARROW LOGIS...	06837627	30.06.2013	N	£2,871,000
TEMPLE STUDIOS LI...	07936198	28.02.2013	N
ARNDALE AINTREE P...	05059349	30.06.2013	N	£931,000
SHOP DIRECT TRUSTE...	04829506	31.03.2013	N
SHOP DIRECT CONTAC...	05330323	30.06.2013	N	£277,000
ESTUARY PARK PROPE...	05747737	30.06.2013	N	£1,736,000
LSD DEVELOPMENTS...	05750586	30.06.2013	N
SENATE PARK DEVEL...	05750589	30.06.2013	N
RYTON PROPERTIES L...	06189268	30.06.2013	N
ABOUND LIMITED	00404996	30.06.2013	N
FAMILY ALBUM LIMITED	02372262	30.06.2013	N
GCC DEBT RECOVERY...	00581147	30.06.2013	N
INNOVATIONS GROUP...	00078524	30.06.2013	N
KAY AND COMPANY LI...	00044307	30.06.2013	N
KAYS PERSONAL SELE...	00168876	30.06.2013	N
LITTLEWOODS CLEARA...	00232346	30.06.2013	N	£11,360,000
CATALOGUE BARGAIN...	00151230	30.06.2013	N
LEWIS U.K. LIMITED	00872784	30.06.2013	N
LW FINANCE LIMITED	04542312	30.06.2013	N
LW INVESTMENTS LI...	04502467	30.06.2013	N
LITTLEWOODS LIM...	00262152	30.06.2013	N	£429,000
J & C MOORES...	00247931	30.06.2013	N
BUSINESS EXPR...	00358625	30.06.2013	N
LITTLEWOODS R...	00421258	30.06.2013	N
M.C.HITCHEN...	00144063	30.06.2013	N
JOHN MOORES...	00278848	30.06.2013	N
BURLINGTON...	00407448	30.06.2013	N
JANET FRAZE...	00442051	30.06.2013	N
BRIAN MILLS...	00478478	30.06.2013	N
LITTLEWOODS...	00637089	30.06.2013	N
PETER CRAIG...	00892464	30.06.2013	N
NATIONWIDE...	01778238	30.06.2013	N
LITTLEWOODS...	03297781	30.06.2013	N
SWAN HOUSEW...	04261343	30.06.2013	N
LITTLEWOODS...	00757724	30.06.2013	N
LITTLEWOODS P...	02765483	30.06.2013	N	£2,394,000
ST. JAMES'S S...	03487648	30.06.2013	N
LITTLEWOODS H...	05007566	30.06.2013	N
WOOLWORTHS LI...	06732228	30.06.2013	N
WOOLWORTHS CI...	06732345	30.06.2013	N
WOOLWORTHS EN...	06769857	30.06.2013	N
WOOLWORTHS NO...	06804349	30.06.2013	N
WOOLWORTHS HO...	06804404	30.06.2013	N
WOOLWORTHS MA...	06804425	30.06.2013	N
WOOLWORTHS GR...	06804433	30.06.2013	N
WOOLWORTHS ME...	06804456	30.06.2013	N
WOOLWORTHS PU...	06804460	30.06.2013	N
WOOLWORTH LIM...	06952174	30.06.2013	N
WOOLWORTHS ON...	06952177	30.06.2013	N
WOOLWORTHS ON...	06952211	30.06.2013	N
EXIND LIMITED	04356958	30.06.2013	N
SHOP DIRECT H...	04663281	30.06.2013	N	£1,289,412,000
LOVE LABEL...	06503963	30.06.2013	N
SHOP DIRECT...	06863409	30.06.2013	N	£97,000
SHOP DIRECT S...	03191443	30.06.2013	N
SHOP DIRECT COM...	04590337	30.06.2013	N
MARSHALL WARD LIMITED	00037273	30.06.2013	N
REALITY GROUP LIMITED	00739600	30.06.2013	N
WHITE ARROW EXPRE...	00458114	30.06.2013	N
WHITE ARROW LEASI...	00953622	30.06.2013	N
REALITY VENTURES L...	01998642	30.06.2013	N
SHOP DIRECT GROUP...	05200103	30.06.2013	N
LITTLEWOODS FINAN...	05355009	30.06.2013	N
SHOP DIRECT FINAN...	04660974	30.06.2013	Y	£386,553,000
LEGAL DIRECT RE...	03983164	30.06.2013	N	£126,000
SHOP DIRECT FIN...	04730706	30.06.2013	N
SOLUTION PERSON...	02493897	31.12.2012	N	£13,744,000
SHOP DIRECT IRELAN...	IE106058	30.06.2013	N	€56,070,000
DEBT DIRECT RECOV...	IE126796	30.06.2013	N
CONSULT INTERNATI...	IE202277	30.06.2013	N
FAMILY ALBUM (IRE...	IE063687	30.06.2013	N
SHOPDIRECT GROUP...	IE202570	30.06.2013	N
HARVEST HAMPERS...	IE172591	30.06.2013	N
SHOPPERS UNIVERSE...	00170316	30.06.2013	N
MARCH SECRETARIAL SE...	04736784	30.06.2013	N

Exact CCJ Details

Date	Court	Amount	Status	Case Number	Date Paid
09/10/2013	NORTHAMPTON CCBC	£1,060	Satisfied	3QZ21989	18/11/2013
11/03/2010	NORTHAMPTON CCBC	£943	Satisfied	0XO60063	20/04/2010
29/12/2008	DARTFORD	£12,025	Satisfied	8DA05626	07/06/2011

Possible CCJs Details

There are no possible CCJ details

Writ Details

No writs found

Mortgage Details

Mortgage Type:	SECURITY AGREEMENT
Date Charge Created:	24/06/05
Date Charge Registered:	11/07/05
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM EACH CHARGOR TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	BY WAY OF FIXED CHARGE IT INTEREST IN ALL SHARES IN ANY MEMBER OF THE GROUP (OTHER THAN ITSELF) OWNED BY IT OR HELD BY ANY NOMINEE ON ITS BEHALF, ALL SHARES, STOCKS, DEBENTURES, BONDS OR OTHER SECURITIES AND INVESTMENTS OWNED BY IT OR HELDBY ANY NOMINEE ON ITS BEHALF. SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	DEBENTURE
Date Charge Created:	01/03/04
Date Charge Registered:	08/03/04
Date Charge Satisfied:	12/07/05
Status:	SATISFIED
Person(s) Entitled:	THE ROYAL BANK OF SCOTLAND PLC
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:	DEED OF ACCESSION TO A COMPOSITE GUARANTEE AND DEBENTURE DATED 4TH OCTOBER 2003AND
Date Charge Created:	15/04/03
Date Charge Registered:	01/05/03
Date Charge Satisfied:	28/06/06
Status:	SATISFIED
Person(s) Entitled:	THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND IN ITS CAPACITY AS SECURITY TRUSTEE FOR THESEC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM EACH CHARGING COMPANY TO THE CHARGEE AND THE SECURITY BENEFICIARIES ON ANY ACCOUNTWHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	L/H LAND ON THE WEST SIDE OF AND FORMING PART OF DEE MILL CHEETHAM STREET SHAW OLDHAM T/NO GM276534.F/H LAND BEING LAND AND BUILDINGS ON THE SOUTH OF LINNEY LANE SHAW T/NO GM761237. F/H LAND AT DEE MILL SHAW OLDHAM T/NO GM706900 AND THE F/H LAND LYING TO THE WEST OF HILLSIDE AVENUE FORMING PART OFDEE MILL SHAW OLDHAM T/NO GM802425 FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTYAND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES FIXEDPLANT AND MACHINERY 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	1	£4,122
Company Name		Amount	Statement Date
Baci Lingerie UK Limited		£4,122	26/06/2012

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
SHOP DIRECT COMPANY DIRECTOR LIMITED	63	17
Mark Newton-Jones	0	12
Steve Makin	0	11

Average Invoice Value	£4077.45
Invoices available	20406
Paid	19661
Outstanding	745

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	17522	351	984	512	292
Outstanding	73	95	122	131	324

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.19
UK Pound	1	Rs.102.56
Euro	1	Rs.81.91

INFORMATION DETAILS

Analysis Done by :	DIV

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%)

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.

Name	Number	Latest Key Financials	Turnover
HALIFAX NON-TRADING THREE LIMITED	IE323923	31.12.2011	€167,860,761
ST. JAMES'S PLACE INTERNATIONAL PUBLIC LIMITED COMPANY	IE185345	31.12.2012	€20,133,010
NASCENT LIFE LIMITED	IE325783	31.12.2012
HALIFAX NON-TRADING ONE LIMITED	IE323922	31.12.2011	€54,381,408
ST. JAMES'S PLACE INTERNATIONAL ADMINISTRATION LIMITED	IE322580	31.12.2012	€415,359
HALIFAX BROKERAGE IRELAND LIMITED	IE411340	31.12.2011	€6,703,945
VARA (GALWAY) LIMITED	IE166681	31.12.2005
OMNISTONE LIMITED	IE255164	31.12.2012
ICC HOLDINGS	IE223271	31.12.2012
RETTI PROPERTIES LIMITED	IE240110	31.12.2009
KRIPTON PROPERTIES LIMITED	IE264399	31.12.2012	€27,000
BOS (IRELAND) NOMINEES LIMITED	IE158785	31.12.2012
TRISTAN PROPERTIES LIMITED	IE228367	31.12.2012
ICC SOFTWARE PARTNERS LIMITED	IE231453	31.12.2012	€35,948
BOS (IRELAND) PROPERTY SERVICES LIMITED	IE255779	31.12.2012	€5,632,407
ICC ENTERPRISE PARTNERS LIMITED	IE272308	31.12.2012	€46,173
ICC EQUITY PARTNERS LIMITED	IE302565	31.12.2012	€547,856
UPSAALA LIMITED	IE305444	31.12.2012	€395,673
BOS (IRELAND) PROPERTY SERVICES 2 LIMITED	IE404551	31.12.2012	€23,333
BOS (IRELAND) FINANCIAL ENTERPRISES LIMITED	IE016551	31.12.2012