MIRA INFORM REPORT
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Report Date : |
08.03.2014 |
IDENTIFICATION DETAILS
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Name : |
LIBERTY LTD. |
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Registered Office : |
210-220 Regent Street, London, W1B 5AH |
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Country : |
United Kingdom |
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Financials (as on) : |
02.02.2013 |
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Date of Incorporation : |
07.04.2000 |
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Com. Reg. No.: |
03967671 |
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Legal Form : |
Public Parent |
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Line of Business : |
Subject is engaged in supply of men’s and women apparels |
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No. of Employees : |
375 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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United Kingdom |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
Company
name and address
LIBERTY LTD.
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Business
Description
Liberty Plc (Liberty) is engaged in supply
of men’s and women apparels. It offers home ware, gift, fabrics and beauty
products like hair care, makeup, skincare and luxury goods. Liberty along with
its subsidiaries Liberty Retail Plc, Liberty Japan Co. Limited, Liberty of
London Prints Limited, Retail Stores Property Holdings Limited and Liberty of
London Limited provides services to UK customers. The company’s business is
divided into six divisions, namely, Style Service, Bars & Restaurants,
Murdock Grooming, Vintage Fashion, Bespoke Interior Decor Service and Wild at
Heart Flowers. Liberty principally operates in the UK and Japan region. The
company is headquartered at London, United Kingdom.
Industry
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
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UK SIC 2007: |
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US SIC 1987: |
Key
Executives
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Name |
Title |
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Kirstie Carey |
Managing Director - Liberty Wholesale |
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Paul Harris |
Director Finance |
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Secretary |
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Barbara Whiting |
Operations Manager |
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Alice Poynter |
Store Manager |
Financial
Summary
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FYE: 2-Feb-2013 |
USD (mil) |
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Registered No.(UK): 03967671
1 - Profit & Loss Item Exchange Rate: USD
1 = GBP 0.6294571
2 - Balance Sheet Item Exchange Rate: USD 1 =
GBP 0.6306719
Gazette Code Present
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ANZSIC 2006 Codes: |
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6240 |
- |
Financial Asset Investing |
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ISIC Rev 4 Codes: |
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642 |
- |
Activities of holding companies |
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NACE Rev 2 Codes: |
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642 |
- |
Activities of holding companies |
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NAICS 2012 Codes: |
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551112 |
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Offices of Other Holding Companies |
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US SIC 1987: |
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671 |
- |
Holding Offices |
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UK SIC 2007: |
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642 |
- |
Activities of holding companies |
Holding company.
More
Business Descriptions
Holding company.
Offices of holding companies
Departmental Stores
Liberty principally engages in operation of a retail luxury goods store,
and the manufacture and sale of fabric and luxury goods. Liberty is famous for
its department store on London’s Great Marlborough Street and its wholesale
luxury fabrics business. The store comprises approximately 70,000 square feet
of retail space across six floors. The company’s business is divided into six
divisions, namely, Style Service, Bars & Restaurants, Murdock Grooming,
Vintage Fashion, Bespoke Interior Decor Service and Wild at Heart Flowers.The
company’s Style Service engages in offering fashion, accessories and
jewellery collections. It offers one-to-one styling advice to individual
customers that help them to select the most appropriate range of garments and
the most suitable accessories that complement those choices. It enables the
serious customer to access the entire Liberty range in one room and allows them
to experiment in a discreet environment as well as enhancing their shopping
experience. The Style service is complimentary and is available by appointment
only.The Bars & Restaurants division of the company is operated through three
restaurants, namely, Champagne Bar, Cafe Liberty and TEA. Champagne Bar offers
variety of seafood along with the salads, soups and coffees. Cafe Liberty
offers wooden platters of cured meats with Smoked Argyll Ham, Duck, Pastrami,
Kassela and Smoked Scottish Venison and cheeseboard platters served with Walnut
Bread, Kent Apple Chutney and English Quince. TEA offers 48 different types of
tea and English cakes; it also offers sandwiches, salads and other appetizing
morselsMurdock Grooming division of the company engages in offering barbering
services for men. The services offered by the company include traditional wet
shave, haircuts, manicure and facial. Additionally, it retails selected range
of traditional and contemporary brands such as Acqua di Genova, Clubman, Jack
Black, Hierbas de Ibiza, Czech and Speake, Carthusia, Brave Soldier, D.R.
Harris, Proraso, Gene Meyer, Matt Fothergill and so on.Vintage Fashion division
of the company is run and sourced by Dress Box. It offers vintage pieces which
are professionally hand cleaned and restored, the problems such as broken zips,
missing buttons, bags with broken clasps etc are not found on the products. The
company also offers men’s accessories and travel goods. Bespoke Interior
Decor Service of the company engages in providing traditional, vintage and
modern design for fabrics, furniture, etc. The company has a distinctive
department on the third floor specifically for fabric and furnishing. It
features various fabric designs and colors from famous brands including Osborne
& Little, Timorous Beasties and Sam Pickard. The available fabrics ad
furnishing can b e customized into the most elegant of personalized interior
decoration.The company’s Wild at Heart Flowers division is engaged in
professional floral trade. It offers simple bouquet, grand displays and
weddings decoration. The company also offers gift vouchers & coins uniquely
minted in denominations of GBP 10, GBP 25, GBP 50 and GBP 100. The coins and
gift vouchers can be used and can be spent throughout the store.On July 28,
2010, BlueGem L.P. acquired Liberty from MWB Group. The offer valued Liberty at
GBP 42 million, which included 141.8p per share offer price and a 44.2p special
dividend. Hawkpoint acted as the corporate finance advisor and Burness acted as
legal advisor for BlueGem. Cavendish and Global Leisure Partners acted as
corporate finance advisor and Dechert and Steinfeld Law acted as legal advisor
for Liberty.
Liberty Plc (Liberty) is engaged in supply of men’s and women
apparels. It offers home ware, gift, fabrics and beauty products like hair
care, makeup, skincare and luxury goods. Liberty along with its subsidiaries
Liberty Retail Plc, Liberty Japan Co. Limited, Liberty of London Prints
Limited, Retail Stores Property Holdings Limited and Liberty of London Limited
provides services to UK customers. The company’s business is divided into six
divisions, namely, Style Service, Bars & Restaurants, Murdock Grooming,
Vintage Fashion, Bespoke Interior Decor Service and Wild at Heart Flowers.
Liberty principally operates in the UK and Japan region. The company is
headquartered at London, United Kingdom.
Shop this seasons best gifts, fashion clothing and accessories from top
designer labels at Liberty London, Liberty Art Fabrics, designer beauty and
home, kitchen and dining
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Helpful |
Harmful |
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Internal Origin |
Strengths |
Weaknesses |
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External Origin |
Opportunities Growing
Opportunities in e-tailing |
Threats |
Overview
Liberty offers a range of men’s and women apparels, fashion to furniture,
hats to handbags, craft to cushions and beauty products. The company’s strong
market position gives it an edge over its competitors in the market.
Acquisition by BlueGem will enable the company to expand its operations. In
fiscal 2009, it recorded limited liquidity and low operating margin over the
previous year. Additionally, intense competition and rising manpower cost may
hamper the financial and operational performance of the company.
Strengths
Re-launch of Renaissance brand
The company’s re-launch of Renaissance brand recorded strong growth
despite economic uncertainties. In fiscal 2009, it recorded an increase of 20%
in revenues over the previous year, which resulted in positive EBITDA of GBP
0.1 million. Renaissance re-captured the original spirit of Liberty, which
included cutting edge design and quirkiness in a redesigned store. This
initiative enabled the company to not only bring back its former customers, but
also attract new ones. The success of this initiative continued in 2010 and
enabled it to further increase its revenues.
Liberty holds diversified product and brand portfolio, which enables it
to attract new customers. The company’s product portfolio comprises apparels,
footwear, accessories, jewelry, skin care, hair care, beauty products, gifts,
home products and fabrics. In addition to these products, it offers a range of
services, namely, style service, bars & restaurants, murdock grooming,
dress box vintage, interior decor service, wild at heart flowers, gift vouchers
& coins, other store services and financial services. These services
supplement the company’s offerings and enable it to provide value added
offerings.
Liberty’s brands comprise one of the most premium brands in consumer
products segment in the world. It is associated with luxury and design. Liberty
is one of the leading destination stores in London, which has the latest
fashions along with design classics. The company’s stores offer artful and
arresting displays, luxe labels, eye catching exclusives and new collections.
In 2010, the company was voted No. 1 store in London by Times Out Magazine
among 50 best stores. The company won this award for its contribution for new
fashion talent, collections, inspired collaborations and eccentric ambiance.
Weaknesses
The company's operating margin was -4.77% for the fiscal year 2009. A
negative operating margin indicates the company’s has company has huge
financial risk. In fiscal 2009, its operating expenses increased to GBP 62.46
million, as compared to GBP 56.11 million in 2008. This indicates inefficient
cost management and a weak pricing strategy by the company.
The company's return on equity (ROE) was -21.9% at the end of fiscal
year 2009. Its return on capital employed (ROCE) and return on assets (ROA)
stood at -6.86% and -7.06% in fiscal 2009. This indicates that the company may
not be using the shareholders' money efficiently and that it is generating low
returns for its shareholders. The company recorded net loss of 5.20 million in
2009.
The company's current ratio was 0.73 at the end of fiscal year 2009, as
compared to 0.90 at the end of fiscal year 2008. A ratio less than 2 implies
that the company is not in good financial health and that it would be unable to
pay off its obligations if they came due at that point. Additionally, its quick
ratio declined to 0.36 in 2009, as compared to 0.52 in 2008. In March 2010,
Liberty signed a GBP 41.5 million sale and leaseback agreement for its Great
Marlborough Street store with Sirosa, a Germany based family-run property
group. The sale of property enabled Liberty to repay GBP 13.8 million of its
borrowings leaving the business free of debt.
Opportunities
Growing Opportunities in e-tailing
The online shopping, also called e-tailing, has been witnessing a strong
growth in the recent years, mostly due to the rising internet penetration and the
user-friendly shopping interface created by the retailers. With Liberty’s
strong brand equity along with established presence in the online retail
format, the company can expect a huge sales growth in the near future. It
operates through a web portal, namely, www.liberty.co.uk. Growth in online
retail sales are expected to outpace the conventional retail sales. With brand
promotions and attractive features in its website, the company can attract more
customers and generate higher revenues. The online format also helps the
retailer generate high margins compared to physical store format.
Building and Extending the Brand
The company intends to maintain and extend its brand image and
reputation. Liberty introduced Liberty Style Service, which attracted a number
of VIPs to the store. This service offers one-to-one styling advice to
customers, which helps them to select range of garments and the suitable
accessories. It joined forces with Margaret Dabbs, an award winning foot
specialist to introduce first spa in the store. Such initiatives will enable
the company to attract new customers.
In June 2010, BlueGem Capital Partners LLP (BlueGem) concluded the
public takeover of the company in two stages. BlueGem is a UK-based private
equity fund with a capital commitment of GBP 205 million. In March 2010,
Liberty sold its Great Marlborough Street store to Sirosa, a Germany based
family-run property group for GBP 41.5 million. The second stage of disposal
was completed for a consideration of GBP 42 million. This acquisition will
enable the company to continue to develop and expand its business.
Threats
Increasing manpower costs may have an adverse affect on the company. In
Europe and the US, the government increased the minimum wage rate in 2009. The
government revised the labor rates for the third year in a row. Furthermore,
many states and municipalities in the country have increased the minimum wage
rate due to higher cost of living. Any such increases in the minimum wages will
increase the operating costs of the company that may have an adverse affect on
their profits. It also becomes difficult for the company to attract and retain
competent employees at reasonable pay. With Liberty’s employee base of more
than 300 people, the company is bound to come under pressure due to the pay
hikes. If it fails to comply with future price hikes, it may face labor strike
that might result in huge losses apart from tarnishing its brand image.
The changing consumer preference could be an area of concern for the
company. As a result, the company is required to constantly develop, produce
and market new products in order to maintain and enhance the recognition of its
brands. There has been a change in consumer trend toward premium and trade-up
product segments off late. The decrease in the market demand and change in the
consumer spending demands for the company’s products could result in the
carrying inventories that are too high or cannot be sold at anticipated prices
or increased product returns by its customers. Additionally, with the constant
change in fashion trends, the company has to develop products that appeal to
the customers. The company’s business, financial condition and results of operations
could materially affect if it is unable to respond to trends in the market for
fashion goods.
The company faces intense competition from various players in its
business sector and location. Its major competitive factor that affects their
business includes members, employees, warehouse sites, product availability,
customer service and product offerings, quality and price. Liberty faces
competition through local, regional and national retailers with low-cost
operators. Liberty’s competitors may have greater financial resources, better
access to merchandise, and greater market penetration. Due to the increase in
competition, sales through department store have declined over the past decade
and its share of total retail sales has fallen considerably. Such an intense
competition poses a threat to the company’s existing market share.
Corporate Family
Total Corporate Family Members: 22
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
London |
United Kingdom |
Holding Companies |
375 |
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Subsidiary |
London |
United Kingdom |
Miscellaneous Professional Services |
99.5 |
304 |
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|
Subsidiary |
London |
United Kingdom |
Clothing and Apparel Stores |
36.6 |
38 |
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|
Subsidiary |
London |
United Kingdom |
Miscellaneous Wholesale |
0.0 |
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Subsidiary |
Chuo-Ku, Tokyo |
Japan |
Clothing and Apparel Wholesale |
39.0 |
18 |
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Subsidiary |
London |
United Kingdom |
Miscellaneous Personal Services |
|||
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Subsidiary |
London |
United Kingdom |
Miscellaneous Wholesale |
3.9 |
14 |
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Subsidiary |
Witney |
United Kingdom |
Clothing and Apparel Manufacturing |
1.1 |
9 |
|
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Subsidiary |
Witney |
United Kingdom |
Clothing and Apparel Manufacturing |
2.5 |
19 |
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Subsidiary |
Witney |
United Kingdom |
Clothing and Apparel Wholesale |
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Subsidiary |
London |
United Kingdom |
Residential and Commercial Building Construction |
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Subsidiary |
London |
United Kingdom |
Residential and Commercial Building Construction |
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Subsidiary |
London |
United Kingdom |
Residential and Commercial Building Construction |
|||
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Subsidiary |
London |
United Kingdom |
Holding Companies |
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Subsidiary |
London |
United Kingdom |
Holding Companies |
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Subsidiary |
London |
United Kingdom |
Miscellaneous Personal Services |
|||
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Subsidiary |
London |
United Kingdom |
Residential and Commercial Building Construction |
|||
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Subsidiary |
London |
United Kingdom |
Residential and Commercial Building Construction |
|||
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Subsidiary |
London |
United Kingdom |
Residential and Commercial Building Construction |
|||
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Subsidiary |
London |
United Kingdom |
Residential and Commercial Building Construction |
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Subsidiary |
London |
United Kingdom |
Residential and Commercial Building Construction |
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Subsidiary |
London |
United Kingdom |
Residential and Commercial Building Construction |
Competitors Report
|
CompanyName |
Location |
Employees |
Ownership |
|
Burberry Group plc |
London, United Kingdom |
8,867 |
Public |
|
Marks and Spencer Group Plc |
London, United Kingdom |
57,518 |
Public |
|
Selfridges Retail Ltd. |
Leicester, United Kingdom |
1,942 |
Private |
|
Tesco PLC |
Cheshunt, United Kingdom |
537,784 |
Public |
Executives
Report
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Board of
Directors |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Secretary |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives |
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Managing Director |
Managing Director |
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Managing Director - Liberty Wholesale |
Managing Director |
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Operations Manager |
Operations Executive |
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Secretary |
Company Secretary |
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Director Finance |
Finance Executive |
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Store Manager |
Merchandise Management Executive |
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Directors and Shareholders Report
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Main Office Address: |
Tel: 020 7734 1234 |
Annual Return Date: 30 Nov 2013 |
|
Individual Directors |
|||||||
|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
23 Mar 1957 |
179 Great Portland Street, London, |
26 Oct 2010 |
NA |
Current:1 |
||
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Current |
12 Jun 1945 |
179 Great Portland Street, London, |
26 Oct 2010 |
NA |
Current:4 |
||
|
Current |
24 Sep 1981 |
16 Berkeley Street, |
06 Sep 2010 |
NA |
Current:23 |
||
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Current |
01 Apr 1983 |
16 Berkeley Street, |
06 Sep 2010 |
NA |
Current:27 |
||
|
Current |
12 Aug 1960 |
16 Berkeley Street, |
06 Sep 2010 |
NA |
Current:39 |
||
|
Current |
06 Mar 1977 |
16 Berkeley Street, |
06 Sep 2010 |
NA |
Current:4 |
||
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Previous |
06 Sep 1951 |
Workman Cottage, Mackney Lane Brightwell-Cum-Ssotwel, |
08 Jul 2002 |
10 Jun 2003 |
Current:0 |
||
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Previous |
22 Feb 1962 |
18 Alwyn Avenue, Chiswick, |
20 Apr 2004 |
16 Jun 2005 |
Current:2 |
||
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Previous |
26 Oct 1962 |
21 Priory Road, |
20 Apr 2004 |
14 Sep 2007 |
Current:0 |
||
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Previous |
24 Jun 1953 |
6 Connaught Square, |
15 May 2000 |
06 Nov 2012 |
Current:9 |
||
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Previous |
26 Dec 1950 |
Yew Tree Cottage, North Heath, |
04 Dec 2000 |
08 Nov 2002 |
Current:0 |
||
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Previous |
28 Mar 1952 |
97 Clifton Hill, |
15 May 2000 |
06 Sep 2010 |
Current:8 |
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Previous |
09 Dec 1959 |
Castle Farmhouse, Chacombe, |
18 Jun 2004 |
31 Mar 2006 |
Current:1 |
||
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Previous |
21 Jul 1959 |
14 St Stephens Avenue, |
31 Mar 2006 |
13 May 2008 |
Current:3 |
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Previous |
22 Oct 1958 |
52 Winnington Road, |
15 May 2000 |
16 Jul 2010 |
Current:0 |
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Previous |
05 Jun 1955 |
239 Regents Park Road, Finchley, |
15 May 2000 |
06 Mar 2007 |
Current:11 |
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Previous |
29 Aug 1958 |
5 Queen Annes Grove, Chiswick, |
11 Nov 2002 |
17 May 2007 |
Current:4 |
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Previous |
11 Dec 1954 |
No 74 Jalan Setiakasih, Damansara Heights, |
15 May 2000 |
08 Mar 2010 |
Current:0 |
||
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Previous |
16 Feb 1957 |
1201 California Street, |
15 May 2000 |
22 Sep 2006 |
Current:0 |
||
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Previous |
28 Sep 1958 |
1 West Garden Place, Kendal Street, |
06 Mar 2007 |
06 Sep 2010 |
Current:6 |
||
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Previous |
02 Aug 1970 |
90 Grandison Road, |
22 Sep 2006 |
06 Sep 2010 |
Current:0 |
||
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Previous |
07 Jun 1958 |
Canterbury Court Kennington Park, 1-3 Brixton Road, |
08 Jul 2002 |
18 Jun 2004 |
Current:3 |
||
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Previous |
04 Oct 1956 |
Rue Pierre Le Grand 4, |
01 Jul 2007 |
28 Jun 2011 |
Current:0 |
||
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Previous |
17 Feb 1948 |
Evole 5, |
18 Jun 2004 |
30 Jun 2006 |
Current:0 |
||
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Previous |
19 Jul 1969 |
179 Great Portland Street, |
13 May 2008 |
19 Dec 2013 |
Current:0 |
||
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Corporate
Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
|
Waterlow Nominees Limited |
Previous |
6-8 Underwood Street, |
07 Apr 2000 |
08 May 2000 |
|
Dechert Nominees Limited |
Previous |
2 Serjeants Inn, |
NA |
15 May 2000 |
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Waterlow Secretaries Limited |
Previous |
6-8 Underwood Street, |
NA |
08 May 2000 |
|
Individual
Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Dunstana Adeshola |
Previous |
14 Nov 1954 |
6-8 Underwood Street, |
07 Apr 2000 |
08 May 2000 |
Current:8 |
|
|
Previous |
NA |
179 Great Portland Street, |
26 Oct 2010 |
19 Dec 2013 |
Current:0 |
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Corporate
Secretaries |
||||
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
|
Dechert Nominees Limited |
Previous |
2 Serjeants Inn, |
NA |
15 May 2000 |
|
Filex Services Limited |
Previous |
179 Great Portland Street, |
15 May 2000 |
26 Oct 2010 |
There were no significant developments
matching your query for KeyID 45161455
Annual Profit & Loss
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
Financial Glossary
|
02-Feb-2013 |
31-Dec-2011 |
31-Dec-2010 |
27-May-2010 |
31-Dec-2009 |
|
|
Period Length |
57 Weeks |
52 Weeks |
52 Weeks |
21 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period Average) |
0.629457 |
0.623776 |
0.647573 |
0.627453 |
0.641508 |
|
Consolidated |
No |
No |
No |
No |
Yes |
|
|
|
|
|
|
|
|
Total Turnover |
- |
- |
- |
- |
92.9 |
|
Cost of Sales |
- |
- |
- |
- |
52.5 |
|
Total Expenses |
0.0 |
7.2 |
- |
0.0 |
- |
|
Gross Profit |
- |
- |
- |
- |
40.5 |
|
Depreciation |
- |
- |
- |
- |
3.6 |
|
Other Expenses |
- |
- |
- |
- |
46.7 |
|
Operating Profit |
- |
- |
- |
0.0 |
- |
|
Other Income |
0.2 |
0.0 |
22.6 |
23.3 |
3.3 |
|
Interest Paid |
0.0 |
0.0 |
0.0 |
0.0 |
4.0 |
|
Exceptional Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Discontinued Operations |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Profit Before Taxes |
0.2 |
-7.2 |
22.6 |
23.3 |
-6.9 |
|
Tax Payable / Credit |
0.0 |
0.0 |
0.0 |
0.0 |
1.1 |
|
Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividends |
0.0 |
0.0 |
15.8 |
0.0 |
- |
|
Profit After Taxes |
0.2 |
-7.2 |
6.8 |
23.3 |
-8.0 |
|
Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Audit Fees |
- |
- |
- |
- |
0.3 |
|
Non Audit Fees |
- |
- |
- |
- |
0.0 |
|
Number of Employees |
0 |
- |
- |
- |
323 |
|
Wages |
0.0 |
- |
- |
- |
15.8 |
|
Social Security Costs |
0.0 |
- |
- |
- |
1.6 |
|
Pensions |
0.0 |
0.0 |
- |
- |
- |
|
Other Pension Costs |
0.0 |
- |
- |
- |
0.6 |
|
Employees Remuneration |
0.0 |
- |
- |
- |
18.0 |
|
Directors Emoluments |
0.0 |
0.0 |
- |
- |
- |
|
Other Costs |
0.0 |
0.0 |
- |
- |
- |
|
Directors Remuneration |
0.0 |
0.0 |
- |
- |
0.9 |
|
Highest Paid Director |
0.0 |
0.0 |
- |
- |
0.5 |
Annual Balance
Sheet
Financials in: USD (mil)
Financial Glossary
|
02-Feb-2013 |
31-Dec-2011 |
31-Dec-2010 |
27-May-2010 |
31-Dec-2009 |
|
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.630672 |
0.643459 |
0.638712 |
0.690918 |
0.619253 |
|
Consolidated |
No |
No |
No |
No |
Yes |
|
|
|
|
|
|
|
|
Land & Buildings |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Fixtures & Fittings |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Plant & Vehicles |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Total Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
51.4 |
|
Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
29.7 |
|
Investments |
64.2 |
62.9 |
66.8 |
13.3 |
0.0 |
|
Total Fixed Assets |
64.2 |
62.9 |
66.8 |
13.3 |
81.1 |
|
Stocks |
0.0 |
0.0 |
0.0 |
0.0 |
19.4 |
|
Work in Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Stocks Work In Progress |
0.0 |
0.0 |
0.0 |
0.0 |
19.4 |
|
Trade Debtors |
0.0 |
0.0 |
0.0 |
0.0 |
12.9 |
|
Inter-Company Debtors |
17.6 |
17.3 |
17.4 |
21.2 |
0.0 |
|
Director Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Debtors |
0.0 |
0.0 |
0.0 |
0.0 |
2.4 |
|
Total Debtors |
17.6 |
17.3 |
17.4 |
21.2 |
15.4 |
|
Cash and Equivalents |
0.0 |
0.0 |
0.0 |
0.0 |
3.1 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
17.6 |
17.3 |
17.4 |
21.2 |
37.9 |
|
Total Assets |
81.8 |
80.2 |
84.2 |
34.4 |
119.0 |
|
Trade Creditors |
0.0 |
0.0 |
0.0 |
- |
19.7 |
|
Bank Overdraft |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Inter-Company Creditors |
72.1 |
70.7 |
67.6 |
- |
20.9 |
|
Director Loans (Current Liability) |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Hire Purchase (Current Liability) |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Finance Lease (Current Liability) |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Total Finance Lease/Hire Purchase (Current Liability) |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Total Short Term Loans |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Accruals/Deferred Income (Current Liability) |
0.1 |
0.3 |
0.3 |
- |
7.6 |
|
Social Security/VAT |
0.0 |
0.0 |
0.0 |
- |
2.5 |
|
Corporation Tax |
0.0 |
0.0 |
0.0 |
- |
0.6 |
|
Dividends (Current Liability) |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Current Liabilities |
0.0 |
0.0 |
0.0 |
0.3 |
0.8 |
|
Total Current Liabilities |
72.2 |
71.0 |
67.9 |
0.3 |
52.1 |
|
Group Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Director Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Leasing (Long Term Liability) |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Other Long Term Loans |
0.0 |
0.0 |
0.0 |
- |
20.3 |
|
Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
4.3 |
0.0 |
|
Total Long Term Liabilities |
0.0 |
0.0 |
0.0 |
4.3 |
20.3 |
|
Deferred Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
4.5 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
2.4 |
|
Total Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
6.9 |
|
Issued Capital |
9.6 |
9.4 |
9.5 |
8.7 |
9.7 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings |
0.1 |
-0.2 |
6.9 |
21.1 |
-83.1 |
|
Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
111.8 |
|
Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
-1.3 |
|
Total Shareholders Funds |
9.6 |
9.2 |
16.3 |
29.9 |
38.4 |
|
Net Worth |
9.6 |
9.2 |
16.3 |
29.9 |
8.7 |
Annual Cash
Flows
Financials in: USD (mil)
Financial Glossary
|
02-Feb-2013 |
31-Dec-2011 |
31-Dec-2010 |
27-May-2010 |
31-Dec-2009 |
|
|
Period Length |
57 Weeks |
52 Weeks |
52 Weeks |
21 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate (Period Average) |
0.629457 |
0.623776 |
0.647573 |
0.627453 |
0.641508 |
|
Consolidated |
No |
No |
No |
No |
Yes |
Annual Ratios
Financials in: USD (mil)
|
02-Feb-2013 |
31-Dec-2011 |
31-Dec-2010 |
27-May-2010 |
31-Dec-2009 |
|
|
Period Length |
57 Weeks |
52 Weeks |
52 Weeks |
21 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.630672 |
0.643459 |
0.638712 |
0.690918 |
0.619253 |
|
Consolidated |
No |
No |
No |
No |
Yes |
|
|
|
|
|
|
|
|
Current Ratio |
0.24 |
0.24 |
0.26 |
68.03 |
0.73 |
|
Liquidity Ratio |
0.24 |
0.24 |
0.26 |
68.03 |
0.35 |
|
Stock Turnover |
- |
- |
- |
- |
4.96 |
|
Credit Period (Days) |
- |
- |
- |
- |
48.95 |
|
Working Capital by Sales |
- |
- |
- |
- |
-14.76% |
|
Trade Credit by Debtors |
- |
- |
- |
- |
1.52 |
|
Return on Capital |
2.33% |
-75.97% |
140.29% |
153.56% |
-10.75% |
|
Return on Assets |
0.27% |
-8.72% |
27.18% |
152.18% |
-6.05% |
|
Profit Margin |
- |
- |
- |
- |
-7.47% |
|
Return on Shareholders Funds |
2.33% |
-75.97% |
140.29% |
175.48% |
-18.72% |
|
Borrowing Ratio |
747.96% |
767.53% |
414.04% |
- |
470.55% |
|
Equity Gearing |
11.78% |
11.48% |
19.38% |
86.72% |
32.29% |
|
Debt Gearing |
- |
- |
- |
- |
231.57% |
|
Interest Coverage |
- |
- |
- |
- |
-1.75 |
|
Sales by Tangible Assets |
- |
- |
- |
- |
187.00 |
|
Average Remuneration per Employee |
- |
- |
- |
- |
0.1 |
|
Profit per Employee |
- |
- |
- |
- |
0.0 |
|
Sales per Employee |
- |
- |
- |
- |
0.3 |
|
Capital Employed per Employee |
- |
- |
- |
- |
0.2 |
|
Tangible Assets per Employee |
- |
- |
- |
- |
0.2 |
|
Total Assets per Employee |
- |
- |
- |
- |
0.4 |
|
Employee Remuneration by Sales |
- |
- |
- |
- |
19.34% |
|
Creditor Days (Cost of Sales Based) |
- |
- |
- |
- |
132.00 |
|
Creditor Days (Sales Based) |
- |
- |
- |
- |
74.50 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.99 |
|
|
1 |
Rs.102.07 |
|
Euro |
1 |
Rs.84.53 |
INFORMATION DETAILS
|
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.