MIRA INFORM REPORT

 

 

Report Date :

15.09.2014              

 

IDENTIFICATION DETAILS

 

Name :

JACK WILLS LIMITED

 

 

Registered Office :

22 Fore Street Salcombe Devon TQ8 8ET

 

 

Country :

United Kingdom

 

 

Financials (as on) :

03.02.2013

 

 

Date of Incorporation :

05.02.1998

 

 

Com. Reg. No.:

03504842

 

 

Legal Form :

Private limited with share capital

 

 

Line of Business :

Retail sale of clothing in specialised stores

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

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 – 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:            Jack Wills Limited

Company no                  03504842

Company status:           UK03161880

 

 

 

DIRECTORS/MANAGEMENT

 

Current Directors

Name

Simon Eric Hugh Turner

Date of Birth

28/10/1968

Officers Title

Mr

Nationality

British

Present Appointments

22

Function

Director

Appointment Date

05/07/2007

 

 

Address

Flat 5, 48 Chepstow Villas, London, W11 2QY

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Robert Wedgwood Shaw

Date of Birth

08/10/1973

Officers Title

Mr

Nationality

British

Present Appointments

4

Function

Director

Appointment Date

05/02/1998

 

 

Address

Manor Farm House, East Dean, Chichester, West Sussex, PO18 0JA

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Peter Bryce Saunders

Date of Birth

22/10/1947

Officers Title

Mr

Nationality

Canadian

Present Appointments

2

Function

Director

Appointment Date

29/01/2009

 

 

Address

4841 Keswick Way, Naples, Florida 34105

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Peter Richard Michael Williams

Date of Birth

12/06/1974

Officers Title

Mr

Nationality

British

Present Appointments

2

Function

Director

Appointment Date

05/02/1998

 

 

Address

22 Fore Street, Salcombe, Devon, TQ8 8ET

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Wendy Mira Becker

Date of Birth

02/11/1965

Officers Title

Ms

Nationality

American

Present Appointments

2

Function

Director

Appointment Date

04/09/2012

 

 

Address

95 Victoria Road, London, NW10 6DJ

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

Robert Wedgwood Shaw

4

1

Ian Shaw

0

3

Thomas William Wood

0

3

Sarah Jane Holme

0

1

Glen Tinton

2

1

Timothy Mark Macdougall Patten

0

1

Paul Antony Woolf

0

1

Paul Antony Woolf

51

36

Helena Joan Feltham

1

1

William Arthur Hobhouse

24

27

Tom Evans

2

1

Fiona Louise Greiner

1

2

Fiona Louise Greiner

1

2

Emily Sarah Tate

13

12

 

 

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

WILLS LIFESTYLE HOLDINGS LTD

GBP

113,384

ORDINARY

1

100

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

2 companies

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

WILLS LIFESTYLE HOLDINGS LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

WILLS LIFESTYLE HOLDINGS LIMITED

 

Group structure

Company Name

 

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

WILLS LIFESTYLE HOLDINGS...

 

07121485

03.02.2013

Y

£133,056,532

JACK WILLS LIMITED

 

03504842

03.02.2013

N

£122,123,130

 

 

FINANCIAL INFORMATION

 

Profit & Loss

Date Of Accounts

03/02/13

(%)

31/01/12

(%)

31/01/11

(%)

31/01/10

(%)

31/01/09

Weeks

53

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

£122,123,130

1.6%

£120,142,742

31.6%

£91,259,566

40.9%

£64,763,601

55%

£41,777,842

Export

-

-

-

-

£1,658,450

57.3%

£1,054,341

176%

£382,020

Cost of Sales

£48,332,634

18.5%

£40,773,523

41.6%

£28,800,784

47%

£19,596,948

52.8%

£12,824,919

Gross Profit

£73,790,496

-7%

£79,369,219

27.1%

£62,458,782

38.3%

£45,166,653

56%

£28,952,923

Wages & Salaries

£25,889,122

17.4%

£22,060,223

25%

£17,655,055

25.3%

£14,087,466

68%

£8,383,543

Directors Emoluments

£1,764,735

-10.8%

£1,977,855

-0.3%

£1,983,598

14.8%

£1,727,340

64.7%

£1,049,000

Operating Profit

£578,719

113.7%

-£4,231,804

-137.8%

£11,203,590

63.6%

£6,846,523

32.1%

£5,183,099

Depreciation

£5,855,745

2.4%

£5,721,197

31%

£4,367,367

32%

£3,309,642

28.7%

£2,572,130

Audit Fees

£77,000

-30%

£110,000

57.1%

£70,000

104.7%

£34,200

26.7%

£27,000

Interest Payments

£758,264

43%

£530,260

295.7%

£134,004

-11.3%

£151,075

78.2%

£84,762

Pre Tax Profit

-£179,545

96.2%

-£4,750,751

-146.4%

£10,241,444

52.9%

£6,698,856

31.3%

£5,101,544

Taxation

£1,632,467

208.6%

-£1,503,413

54.9%

-£3,334,319

-52.8%

-£2,181,569

-31.5%

-£1,658,989

Profit After Tax

£1,452,922

123.2%

-£6,254,164

-190.5%

£6,907,125

52.9%

£4,517,287

31.2%

£3,442,555

Dividends Payable

£6,845,120

-

-

-

-

-

-

-

-

Retained Profit

-£5,392,198

13.8%

-£6,254,164

-190.5%

£6,907,125

52.9%

£4,517,287

31.2%

£3,442,555


Balance Sheet

Date Of Accounts

03/02/13

(%)

31/01/12

(%)

31/01/11

(%)

31/01/10

(%)

31/01/09

Tangible Assets

£14,360,341

-12.8%

£16,469,459

20.6%

£13,651,088

4.8%

£13,024,674

49.4%

£8,720,430

Intangible Assets

£10,199,265

87.9%

£5,429,038

472.6%

£948,143

16.8%

£811,746

-

0

Total Fixed Assets

£24,559,606

12.2%

£21,898,497

50%

£14,599,231

5.5%

£13,836,420

58.7%

£8,720,430

Stock

£11,380,664

-18.6%

£13,978,036

79.9%

£7,770,491

-6%

£8,269,794

105.1%

£4,032,417

Trade Debtors

£701,278

-27.2%

£963,330

187.8%

£334,678

134.5%

£142,694

999.9%

£892

Cash

£4,973,744

24.9%

£3,981,277

-75%

£15,898,555

236.7%

£4,722,198

6.9%

£4,415,853

Other Debtors

£7,849,236

100%

£3,924,692

-29.3%

£5,555,019

146.3%

£2,255,649

-20.2%

£2,826,785

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£24,904,922

9%

£22,847,335

-22.7%

£29,558,743

92.1%

£15,390,335

36.5%

£11,275,947

Trade Creditors

£6,895,245

-24.4%

£9,123,007

-1.7%

£9,278,955

27.9%

£7,254,088

-0.9%

£7,317,481

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

£4,100,922

31%

£3,131,446

495.6%

£525,784

-1.2%

£532,074

-

0

Miscellaneous Current Liabilities

£25,626,255

51.6%

£16,902,889

10.7%

£15,266,287

90.3%

£8,020,799

75.3%

£4,576,580

Total Current Liabilities

£36,622,422

25.6%

£29,157,342

16.3%

£25,071,026

58.6%

£15,806,961

32.9%

£11,894,061

Bank Loans & Overdrafts and LTL

£5,520,261

92%

£2,874,447

999.9%

£118,741

-86.9%

£907,649

741.4%

£107,872

Other Long Term Finance

£5,520,261

92%

£2,874,447

999.9%

£118,741

-80.2%

£598,655

-

0

Total Long Term Liabilities

£5,520,261

92%

£2,874,447

999.9%

£118,741

-86.9%

£907,649

741.4%

£107,872

 

Capital & Reserves

Date Of Accounts

03/02/13

(%)

31/01/12

(%)

31/01/11

(%)

31/01/10

(%)

31/01/09

Called Up Share Capital

£113,384

-

£113,384

-

£113,384

1%

£112,222

0.4%

£111,808

P & L Account Reserve

£6,985,321

-43.6%

£12,377,519

-33.6%

£18,631,683

53%

£12,176,783

59%

£7,659,496

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

£223,140

-

£223,140

-

£223,140

-

£223,140

-

£223,140

Shareholder Funds

£7,321,845

-42.4%

£12,714,043

-33%

£18,968,207

51.6%

£12,512,145

56.5%

£7,994,444

 

Other Financial Items

Date Of Accounts

03/02/13

(%)

31/01/12

(%)

31/01/11

(%)

31/01/10

(%)

31/01/09

Net Worth

-£2,877,420

-139.5%

£7,285,005

-59.6%

£18,020,064

54%

£11,700,399

46.4%

£7,994,444

Working Capital

-£11,717,500

-85.7%

-£6,310,007

-240.6%

£4,487,717

999.9%

-£416,626

32.6%

-£618,114

Total Assets

£49,464,528

10.5%

£44,745,832

1.3%

£44,157,974

51.1%

£29,226,755

46.2%

£19,996,377

Total Liabilities

£42,142,683

31.6%

£32,031,789

27.2%

£25,189,767

50.7%

£16,714,610

39.3%

£12,001,933

Net Assets

£7,321,845

-42.4%

£12,714,043

-33%

£18,968,207

51.6%

£12,512,145

56.5%

£7,994,444

 

Cash Flow

Date Of Accounts

03/02/13

(%)

31/01/12

(%)

31/01/11

(%)

31/01/10

(%)

31/01/09

Net Cashflow from Operations

-

-

-

-

-

-

£9,663,168

-6.7%

£10,357,251

Net Cashflow before Financing

-

-

-

-

-

100%

-£292,723

-120.3%

£1,440,746

Net Cashflow from Financing

-

-

-

-

-

-

£599,068

999.9%

£586

Increase in Cash

-

-

-

-

-

-

£306,345

-78.7%

£1,441,332

 

Miscellaneous

Date Of Accounts

03/02/13

(%)

31/01/12

(%)

31/01/11

(%)

31/01/10

(%)

31/01/09

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£12,842,106

-17.6%

£15,588,490

-18.3%

£19,086,948

42.2%

£13,419,794

65.6%

£8,102,316

Number of Employees

2136

-24%

2811

52.4%

1844

43.4%

1286

13.7%

1131

Auditors

PRICEWATERHOUSECOOPERS LLP

Auditor Comments

The audit report contains no adverse comments

Bankers

 

Bank Branch Code

 

 

 

 

 

 

 

 

 

 

Ratios

Date Of Accounts

03/02/13

31/01/12

31/01/11

31/01/10

31/01/09

Pre-tax profit margin %

-0.15

-3.95

11.22

10.34

12.21

Current ratio

0.68

0.78

1.18

0.97

0.95

Sales/Net Working Capital

-10.42

-19.04

20.34

-155.45

-67.59

Gearing %

75.40

22.60

0.60

7.30

1.30

Equity in %

18.60

32.30

43.90

44

40

Creditor Days

20.94

27.64

37.01

40.77

63.75

Debtor Days

2.13

2.91

1.33

0.80

-

Liquidity/Acid Test

0.36

0.30

0.86

0.45

0.60

Return On Capital Employed %

-1.39

-30.47

53.65

49.91

62.96

Return On Total Assets Employed %

-0.36

-10.61

23.19

22.92

25.51

Current Debt Ratio

5

2.29

1.32

1.26

1.48

Total Debt Ratio

5.75

2.51

1.32

1.33

1.50

Stock Turnover Ratio %

9.31

11.63

8.51

12.76

9.65

Return on Net Assets Employed %

-2.45

-37.36

53.99

53.53

63.81

 

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

Enquiries Trend

There have been 285 enquiries in the last 12 months.

There are an average of 24 reports taken each month.

 

Event History

Date

Description

12/09/2014

Ms E.S. Tate has left the board

22/02/2014

Annual Returns

10/02/2014

Ms S.J. Holme has left the board

10/02/2014

New Board Member Ms E.S. Tate appointed

25/07/2013

New Accounts Filed

25/07/2013

New Accounts Filed

07/06/2013

Mrs H.J. Feltham has left the board

31/05/2013

Mr T.M. Patten has left the board

31/05/2013

Mr G. Tinton has left the board

26/03/2013

Annual Returns

06/02/2013

Mr P.A. Woolf has left the board

06/02/2013

Mr P.A. Woolf has resigned as company secretary

18/10/2012

New Accounts Filed

18/10/2012

New Accounts Filed

24/09/2012

New Board Member Ms W.M. Becker appointed

 

Previous Company Names

Date

Previous Name

25/06/1998

PRM WILLIAMS CLOTHING LIMITED

 

 

NOTES & COMMENTS

 

Commentary

No exact match CCJs are recorded against the company.

 

Net Worth decreased by 139.5% during the latest trading period.

 

The company has undergone recent changes in its directorships.

 

 

Sales in the latest trading period increased 1.6% on the previous trading period.

 

A 10.5% growth in Total Assets occurred during the latest trading period.

 

Pre-tax profits increased by 96.2% compared to the previous trading period.

 

The company saw an increase in their Cash Balance of 24.9% during the latest trading period.

 

The audit report contains no adverse comments.

 

The company is part of a group.

 

The company was established over 16 years ago.

 

 

 

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

 

Analysis Done by :

DIV

 

 

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.