MIRA INFORM REPORT

 

 

Report Date :

13.09.2014

 

IDENTIFICATION DETAILS

 

Name :

BANDANA LIMITED

 

 

Registered Office :

3rd Floor 207, Regent Street, London W1B 3HH

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.05.2013

 

 

Date of Incorporation :

14.03.2000

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Wholesale trade of womens clothing and accessories

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No complaints

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – June 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

United Kingdom

A1

A1

 

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

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Name:

BANDANA LIMITED

Company Number:

03947271

 

 

Registered Address

3RD FLOOR 207

Trading Address

Alexander House

 

REGENT STREET

 

3 Shakespeare Road

 

LONDON

 

London

 

W1B 3HH

 

London

 

 

 

N3 1XE

 

 

 

 

Incorporate Date

14/03/2000

Type

Private limited with Share Capital

FTSE Index

-

 

 

Filing Date of Accounts

24/09/2013

Currency

GBP

Share Capital

£2

SIC07

46420

 

 

SIC07 Description

WHOLESALE OF CLOTHING AND FOOTWEAR

 

 

Principal Activity

Wholesale trade of womens clothing and accessories

 

 

DIRECTORS/MANAGEMENT

 

Current Directors

Name

Charles Colin Stone

Date of Birth

10/09/1947

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

10/01/2007

 

 

Address

3rd Floor 207 Regent Street, London, W1B 3HH

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

 

Name

Angela Irene Stone

Date of Birth

17/07/1948

Officers Title

Ms

Nationality

British

Present Appointments

3

Function

Director

Appointment Date

10/01/2007

 

 

Address

3rd Floor 207 Regent Street, London, W1B 3HH

 

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

Martin Collins

21

4

Maxine Deborah Collins

6

1

Angela Irene Stone

6

2

Angela Irene Stone

6

2

COMPANY DIRECTORS LIMITED

9352

196298

TEMPLE SECRETARIES LIMITED

11630

198011

 

 

NEGATIVE INFORMATION

 

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 -

-

 

 

 

Exact CCJ Details

No CCJs found

 

Possible CCJs Details

There are no possible CCJ details

 

Writ Details

No writs found

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

CHARLES COLIN STONE

GBP

1

ORDINARY

1

50

MRS ANGELA IRENE STONE

GBP

1

ORDINARY

1

50

 

 

PAYMENT INFORMATION

 

Payment Trend

Stable

 

Within terms

Within terms 91+ Days

 

Mortgage Details

Mortgage Type:

 

Date Charge Created:

14/02/14

 

 

Date Charge Registered:

17/02/14

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

HITACHI CAPITAL (UK) PLC;

Amount Secured:

 

Details:

DEBENTURECONTAINS FIXED CHARGE.CONTAINSFLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.

 

Mortgage Type:

LEASE

Date Charge Created:

01/09/09

 

 

Date Charge Registered:

16/09/09

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

KURT WILHELM WEINBERG AND CHARLOTTE STEFANIE WEINBERG

Amount Secured:

£9,000.00 DUE OR TO BECOME DUE FROM THECOMPANY TO THE CHARGEE

Details:

THE SUM OF £9,000.00

 

Mortgage Type:

DEBENTURE

Date Charge Created:

23/08/07

 

 

Date Charge Registered:

04/09/07

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

NATIONAL WESTMINSTER BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL UNCALLED CAPITAL BUILDINGS FIXTURES PLANT ANDMACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Creditor Details

 

Total Number

Total Value

Trade Creditors

0

-

 

No Creditor Data

 

Trade Debtors / Bad Debt Detail

 

Total Number of Documented Trade

Total Value of Documented Trade

Trade Debtors

-

-

 

No Debtor Data

 

Average Invoice Value

£199.45

Invoices available

4

Paid

2

Outstanding

2

 

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

 

 

 

Within Terms

0-30 Days

31-60 Days

61-90 Days

91+ Days

Paid

2

0

0

0

0

Outstanding

0

2

0

0

0

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

2 companies

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

BANDANA LIMITED

Ownership Status

Ultimately Owned

Ultimate Holding Company

BANDANA LIMITED

 

Group structure

Company Name

 

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

BANDANA LIMITED

 

03947271

31.05.2013

N

 

UK & INDIA SOURCING LTD

 

06617950

30.06.2013

N

 

 

 

FINANCIAL INFORMATION

 

Profit & Loss

Date Of Accounts

31/05/13

(%)

31/05/12

(%)

30/06/11

(%)

30/06/10

(%)

30/06/09

Weeks

52

(%)

48

(%)

52

(%)

52

(%)

65

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

-

-

£1,720,290

-25.7%

£2,316,383

-4.9%

£2,434,609

40.2%

£1,736,542

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-100%

£1,289,795

-26.3%

£1,749,481

-7.4%

£1,889,595

39.7%

£1,352,921

Gross Profit

-

-

£430,495

-24.1%

£566,902

4%

£545,014

42.1%

£383,621

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

-

-

£95,586

2.7%

£93,073

-36.5%

£146,559

-5.4%

£154,982

Depreciation

£5,917

-

£5,917

-

-

-

-

-100%

£416

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

£1,201

-10.3%

£1,339

75.5%

£763

-76.8%

£3,292

Pre Tax Profit

-

-

£94,385

2.9%

£91,734

-37.1%

£145,796

-3.9%

£151,690

Taxation

-

-

-£20,060

1%

-£20,263

25.6%

-£27,238

16.2%

-£32,503

Profit After Tax

-

-

£74,325

4%

£71,471

-39.7%

£118,558

-0.5%

£119,187

Dividends Payable

-

-

£119,215

48.2%

£80,441

14.9%

£70,000

25.7%

£55,680

Retained Profit

-

-

-£44,890

-400.4%

-£8,970

-118.5%

£48,558

-23.5%

£63,507

 

Balance Sheet

Date Of Accounts

31/05/13

(%)

31/05/12

(%)

30/06/11

(%)

30/06/10

(%)

30/06/09

Tangible Assets

£510

-92.1%

£6,427

-47.9%

£12,344

-48.9%

£24,178

999.9%

£2,173

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£510

-92.1%

£6,427

-47.9%

£12,344

-48.9%

£24,178

999.9%

£2,173

Stock

0

-

0

-

0

-

0

-100%

£12,000

Trade Debtors

£450,943

-20.9%

£569,812

33.2%

£427,772

26.6%

£337,915

8.9%

£310,392

Cash

0

-

0

-100%

£39,928

-73.1%

£148,330

77.7%

£83,459

Other Debtors

0

-

0

-100%

£38,808

116.9%

£17,891

2.1%

£17,530

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£450,943

-20.9%

£569,812

12.5%

£506,508

0.5%

£504,136

19.1%

£423,381

Trade Creditors

£351,454

8.6%

£323,723

-0.6%

£325,834

-6.2%

£347,333

21.6%

£285,640

Bank Loans & Overdrafts

0

-100%

£112,896

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

0

-100%

£44,045

-16.2%

£52,553

66.6%

£31,546

-19.2%

£39,037

Total Current Liabilities

£351,454

-26.9%

£480,664

27%

£378,387

-0.1%

£378,879

16.7%

£324,677

Bank Loans & Overdrafts and LTL

0

-100%

£112,896

-

0

-

0

-

0

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-

0

-

0

-

0

-

0

 

Capital & Reserves

Date Of Accounts

31/05/13

(%)

31/05/12

(%)

30/06/11

(%)

30/06/10

(%)

30/06/09

Called Up Share Capital

£2

-

£2

-

£2

-

£2

-

£2

P & L Account Reserve

£99,997

4.6%

£95,573

-32%

£140,463

-6%

£149,433

48.1%

£100,875

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£99,999

4.6%

£95,575

-32%

£140,465

-6%

£149,435

48.1%

£100,877

 

Other Financial Items

Date Of Accounts

31/05/13

(%)

31/05/12

(%)

30/06/11

(%)

30/06/10

(%)

30/06/09

Net Worth

£99,999

4.6%

£95,575

-32%

£140,465

-6%

£149,435

48.1%

£100,877

Working Capital

£99,489

11.6%

£89,148

-30.4%

£128,121

2.3%

£125,257

26.9%

£98,704

Total Assets

£451,453

-21.7%

£576,239

11.1%

£518,852

-1.8%

£528,314

24.1%

£425,554

Total Liabilities

£351,454

-26.9%

£480,664

27%

£378,387

-0.1%

£378,879

16.7%

£324,677

Net Assets

£99,999

4.6%

£95,575

-32%

£140,465

-6%

£149,435

48.1%

£100,877

 

Miscellaneous

Date Of Accounts

31/05/13

(%)

31/05/12

(%)

30/06/11

(%)

30/06/10

(%)

30/06/09

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£99,999

4.6%

£95,575

-32%

£140,465

-6%

£149,435

48.1%

£100,877

 

Ratios

Date Of Accounts

31/05/13

31/05/12

30/06/11

30/06/10

30/06/09

Pre-tax profit margin %

-

5.49

3.96

5.99

8.74

Current ratio

1.28

1.19

1.34

1.33

1.30

Sales/Net Working Capital

-

19.30

18.08

19.44

17.59

Gearing %

0

118.10

0

0

0

Equity in %

22.20

16.60

27.10

28.30

23.70

Creditor Days

-

63.22

51.20

51.92

74.84

Debtor Days

-

111.29

67.22

50.52

81.32

Liquidity/Acid Test

1.28

1.18

1.33

1.33

1.26

Return On Capital Employed %

-

98.75

65.30

97.56

150.37

Return On Total Assets Employed %

-

16.37

17.68

27.59

35.64

Current Debt Ratio

3.51

5.02

2.69

2.53

3.21

Total Debt Ratio

3.51

5.02

2.69

2.53

3.21

Stock Turnover Ratio %

-

-

-

-

0.69

Return on Net Assets Employed %

-

98.75

65.30

97.56

150.37

 

 

FOREIGN EXCHANGE RATES

 

N/a

 

 

ADDITIONAL INFORMATION

 

Current Company Secretary

Name

Charles Colin Stone

Date of Birth

10/09/1947

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Company Secretary

Appointment Date

10/01/2007

 

 

Address

3rd Floor 207 Regent Street, London, W1B 3HH

 

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

 

Auditor Comments

The company is exempt from audit

Bankers

 

Bank Branch Code

 

 

Status History

No Status History found

 

Event History

Date

Description

29/03/2014

Annual Returns

30/09/2013

New Accounts Filed

08/07/2013

New Accounts Filed

08/07/2013

New Accounts Filed

09/05/2013

Annual Returns

06/04/2012

New Accounts Filed

02/04/2012

Annual Returns

30/03/2012

Change in Reg.Office

17/08/2011

Change in Reg.Office

17/08/2011

Change of Company Postcode

12/04/2011

Annual Returns

15/11/2010

New Accounts Filed

15/06/2010

Annual Returns

07/01/2010

New Accounts Filed

07/01/2010

New Accounts Filed

 

Previous Company Names

No Previous Names found

 

 

NOTES & COMMENTS

 

Commentary

No exact match CCJs are recorded against the company.                                                                 

Net Worth increased by 4.6% during the latest trading period.                                                           

A 21.7% decline in Total Assets occurred during the latest trading period.                                         

 

The company is exempt from audit.                                                                                                 

No recent changes in directorship are recorded.                                                                               

The company is part of a group.                                                                                                      

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

The company has changed its registered address recently.                                                               

The company was established over 13 years ago.                                                                             Show more


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.84

UK Pound

1

Rs.98.72

Euro

1

Rs.78.64

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.