MIRA INFORM REPORT

Report Date :

07.11.2014

IDENTIFICATION DETAILS

Name :	PURSEWORLD LEATHERGOODS LIMITED
Registered Office :	91 Princess Street Manchester Greater Manchester M1 4HT
Country :	United Kingdom
Financials (as on) :	31.03.2013
Date of Incorporation :	27.10.1992
Com. Reg. No.:	02759152
Legal Form :	Private limited with share capital
Line of Business :	Agent involved in the sale of textiles, clothing, fur, footwear and leather
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

Company name and address

Company Name: PURSEWORLD LEATHERGOODS LIMITED

Company No: 02759152

Company Status: Active - Accounts Filed

Registered Address: 91 PRINCESS STREET MANCHESTER GREATER MANCHESTER M1 4HT

Company summary

Company Name	PURSEWORLD LEATHERGOODS LIMITED	Company Number	02759152
Registered Address	91 PRINCESS STREET MANCHESTER GREATER MANCHESTER M1 4HT	Trading Address	91 PRINCESS STREET MANCHESTER GREATER MANCHESTER M1 4HT
Corporate Address	360 Moorside road Manchester M27 9PW, United Kingdom
Telephone Number	-
TPS	-
Incorporation Date	21.10.1992	Company Status	Active - Accounts Filed
Previous Name		Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	02.012.2013
		Share Capital	£3
SIC03	--	Currency	GBP
SIC03 Description	.Agent involved in the sale of textiles, clothing, fur, footwear and leather
SIC07	46180
Principal Activity	Wholesale of household goods

DIRECTORS/MANAGEMENT

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

Current Directors

Name	Ronnie Tai Cheong Lam	Date of Birth	13/05/1951
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	12/05/1993
Address	14 Crossfield Drive, Worsley, Manchester, Lancashire, M28 1GP
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Queeenie Kit Man Lam	Date of Birth	09/12/1959
Officers Title	Mrs	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	27/10/1992
Address	14 Crossfield Drive, Worsley, Manchester, Lancashire, M28 1GP
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	William Hin Kwong Lo	Date of Birth	30/03/1957
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	12/05/1993
Address	9 Leaconfield Drive, Worsley, Manchester, M28 2WE
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	Lilian Wea Win Lo	Date of Birth	-
Officers Title	Mrs	Nationality	British
Present Appointments	1	Function	Company Secretary
Appointment Date	27/10/1992
Address	9 Leaconfield Drive, Worsley, Manchester, M28 2WE

NEGATIVE INFORMATION

Mortgage Summary

Total Mortgage 3

Outstanding 1

Satisfied 2

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 -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	-

Mortgage Details

Mortgage Type:	DEBENTURE
Date Charge Created:	18/02/08
Date Charge Registered:	21/02/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
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 CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY

Mortgage Type:	MORTGAGE DEBENTURE
Date Charge Created:	27/07/95
Date Charge Registered:	03/08/95
Date Charge Satisfied:	15/07/10
Status:	SATISFIED
Person(s) Entitled:	SINGER & FRIEDLANDER 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:	22/12/93
Date Charge Registered:	29/12/93
Date Charge Satisfied:	15/07/10
Status:	SATISFIED
Person(s) Entitled:	CREDIT LYONNAIS BANK NEDERLAND N.V.
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 MACHINERY

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MRS QUEEENIE KIT MAN LAM	GBP	250	ORDINARY	1	25
MRS LILIAN WEA WIN LO	GBP	250	ORDINARY	1	25
MR WILLIAM HIN KWONG LO	GBP	250	ORDINARY	1	25
MR RONNIE TAI CHEONG LAM	GBP	250	ORDINARY	1	25

PAYMENT INFORMATION

Trade Payment Information

Average Invoice Value	148.21
Invoices available	9
Paid	9
Outstanding	0

Average Invoice Value	£148.21
Invoices available	9
Paid	9
Outstanding	0

	Within Terms	0-30 Days	31-60 Days	61-90 Days	91+ Days
Paid	7	1	1	0	0
Outstanding	0	0	0	0	0

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group structure

No group structure

FINANCIAL INFORMATION

Profit & Loss

	Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
	Turnover	-	-	-	-	-	-	-	-	-
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	-	-	-	-	-	-	-	-	-
	Gross Profit	-	-	-	-	-	-	-	-	-
	Wages & Salaries	-	-	-	-	-	-	-	-	-
	Directors Emoluments	-	-	-	-	-	-	-	-	-
	Operating Profit	-	-	-	-	-	-	-	-	-
	Depreciation	£5,210	-10.3%	£5,810	-10.5%	£6,488	-9.4%	£7,160	-11.2%	£8,060
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
	Tangible Assets	£240,110	-2.1%	£245,320	-2.3%	£251,130	-2.2%	£256,740	301.8%	£63,900
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£240,110	-2.1%	£245,320	-2.3%	£251,130	-2.2%	£256,740	301.8%	£63,900
	Stock	£423,231	-26.4%	£575,407	83.3%	£313,953	-22.6%	£405,596	-9.9%	£450,304
	Trade Debtors	£462,112	-13%	£531,048	-10.7%	£594,554	34.2%	£443,062	-16.2%	£528,867
	Cash	£1,357,282	9.3%	£1,241,937	-19.9%	£1,551,167	-13.4%	£1,791,695	16.5%	£1,537,627
	Other Debtors	0	-	0	-	0	-	0	-	0
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£2,242,625	-4.5%	£2,348,392	-4.5%	£2,459,674	-6.8%	£2,640,353	4.9%	£2,516,798
	Trade Creditors	£1,607,924	6.8%	£1,505,236	0.4%	£1,499,665	-3.8%	£1,558,123	6%	£1,469,964
	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
	Other Short Term Finance	0	-	0	-	0	-	0	-	0
	Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	0
	Total Current Liabilities	£1,607,924	6.8%	£1,505,236	0.4%	£1,499,665	-3.8%	£1,558,123	6%	£1,469,964
	Bank Loans & Overdrafts and LTL	£2,850	-14.9%	£3,350	-16.3%	£4,000	-9.7%	£4,430	-22.7%	£5,730
	Other Long Term Finance	0	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£2,850	-14.9%	£3,350	-16.3%	£4,000	-9.7%	£4,430	-22.7%	£5,730

Capital & Reserves

	Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
	Called Up Share Capital	£1,000	-	£1,000	-	£1,000	-	£1,000	-	£1,000
	P & L Account Reserve	£870,961	-19.7%	£1,084,126	-10.1%	£1,206,139	-9.6%	£1,333,540	20.8%	£1,104,004
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£871,961	-19.6%	£1,085,126	-10.1%	£1,207,139	-9.5%	£1,334,540	20.8%	£1,105,004

Other Financial Items

	Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
	Net Worth	£871,961	-19.6%	£1,085,126	-10.1%	£1,207,139	-9.5%	£1,334,540	20.8%	£1,105,004
	Working Capital	£634,701	-24.7%	£843,156	-12.2%	£960,009	-11.3%	£1,082,230	3.4%	£1,046,834
	Total Assets	£2,482,735	-4.3%	£2,593,712	-4.3%	£2,710,804	-6.4%	£2,897,093	12.3%	£2,580,698
	Total Liabilities	£1,610,774	6.8%	£1,508,586	0.3%	£1,503,665	-3.8%	£1,562,553	5.9%	£1,475,694
	Net Assets	£871,961	-19.6%	£1,085,126	-10.1%	£1,207,139	-9.5%	£1,334,540	20.8%	£1,105,004

Cash Flow

	Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£874,811	-19.6%	£1,088,476	-10.1%	£1,211,139	-9.5%	£1,338,970	20.5%	£1,110,734
	Number of Employees	-	-	-	-	-	-	-	-	-
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	31/03/13	31/03/12	31/03/11	31/03/10	31/03/09
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	1.39	1.56	1.64	1.69	1.71
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	0.30	0.30	0.30	0.30	0.50
	Equity in %	35.10	41.80	44.50	46.10	42.80
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	1.13	1.17	1.43	1.43	1.40
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	1.84	1.38	1.24	1.16	1.33
	Total Debt Ratio	1.84	1.39	1.24	1.17	1.33
	Stock Turnover Ratio %	-	-	-	-	-
	Return on Net Assets Employed %	-	-	-	-	-

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Enquiries Trend

There have been 10 enquiries in the last 12 months.

There are an average of 1 reports taken each month.

	3 MONTHS	6 MONTHS	9 MONTHS
Enquiries	1	3	3

Status History

No Status History found

Event History

Date	Description
01/11/2014	Annual Returns
11/12/2013	New Accounts Filed
05/11/2013	Annual Returns
18/12/2012	New Accounts Filed
03/11/2012	Annual Returns
20/12/2011	New Accounts Filed
13/12/2011	Annual Returns
17/01/2011	Annual Returns
17/12/2010	New Accounts Filed
29/01/2010	Annual Returns
17/12/2009	New Accounts Filed
03/12/2008	New Accounts Filed
02/01/2008	New Accounts Filed
30/11/2006	New Accounts Filed
06/03/2006	New Accounts Filed

Previous Company Names

No Previous Names found

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
CHETTLEBURGH INTERNATIONAL LIMITED	209	30649

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.

Net Worth decreased by 19.6% during the latest trading period.

The company saw an increase in their Cash Balance of 9.3% during the latest trading period.

There is insufficient data to indicate a change in this company's percentage of sales.

A 4.3% decline in Total Assets occurred during the latest trading period.

There is insufficient data to indicate a change in this company's pre-tax profit.

The company is exempt from audit.

No recent changes in directorship are recorded.

The company is not part of a group.

The movement in accumulated earnings would indicate that the company incurred a loss after tax and other appropriations, including dividends.

The company was established over 22 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.39
UK Pound	1	Rs.98.00
Euro	1	Rs.76.99

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	NIS

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.