MIRA INFORM REPORT

Report Date :

15.09.2014

IDENTIFICATION DETAILS

Name :	TOGETHER LIMITED

Registered Office :	26-28 Conway Street London WIT 6BH

Country :	United Kingdom

Financials (as on) :	28.02.2014

Date of Incorporation :	23.05.1984

Com. Reg. No.:	01818712

Legal Form :	Private Limited with share capital

Line of Business :	· Other business support service activities N.E.C. · The provision of womenswear designs to leading mail order houses in the United Kingdom and overseas.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
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

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 TOGETHER LIMITED

Company no 01818712

Company status active accounts filed

DIRECTORS/MANAGEMENT

Current Directors

Name	Jennifer Brennan	Date of Birth	30/06/1962
Officers Title	Ms	Nationality	British
Present Appointments	5	Function	Director
Appointment Date	14/09/1991
Address	29 Derwent Road, Palmers Green, London, N13 4PY
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	John Hinchcliffe	Date of Birth	17/01/1965
Officers Title	Mr	Nationality	British
Present Appointments	9	Function	Director
Appointment Date	01/10/2012
Address	26-28 Conway Street, London, W1T 6BH
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Louanne Finn	Date of Birth	16/08/1969
Officers Title	Miss	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	25/07/2013
Address	26-28 Conway Street, London, W1T 6BH
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

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

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
FREEMANS GRATTAN HOLDINGS LTD	GBP	50,000	ORDINARY B	1	25
FREEMANS GRATTAN HOLDINGS LTD	GBP	50,000	ORDINARY A	1	25
OTTO VERSAND (UK) LTD	GBP	50,001	ORDINARY B	1	25
OTTO VERSAND (UK) LTD	GBP	50,001	ORDINARY A	1	25

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	34 companies
Linkages	228 companies
Countries	In 4 countries

Summary

Holding Company	FREEMANS GRATTAN HOLDINGS LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	OTTO AKTIENGESELLSCHAFT FUER BETEILIGUNG

Group structure

FINANCIAL INFORMATION

Profit & Loss

Date Of Accounts	28/02/14	(%)	28/02/13	(%)	29/02/12	(%)	28/02/11	(%)	28/02/10
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£3,604,000	33.3%	£2,703,000	9.1%	£2,478,000	12.9%	£2,194,000	-21.7%	£2,801,000
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	£2,269,000	39.9%	£1,622,000	-20.4%	£2,037,000	-27.9%	£2,824,000	6.4%	£2,654,000
Gross Profit	£1,335,000	23.5%	£1,081,000	145.1%	£441,000	170%	-£630,000	-528.6%	£147,000
Wages & Salaries	£1,344,000	8.3%	£1,241,000	19.4%	£1,039,000	-27.2%	£1,427,000	-13.7%	£1,653,000
Directors Emoluments	£247,000	37.2%	£180,000	7.1%	£168,000	-9.2%	£185,000	3.4%	£179,000
Operating Profit	£453,000	82.7%	£248,000	161.8%	-£401,000	75.9%	-£1,664,000	-80.7%	-£921,000
Depreciation	£17,000	-26.1%	£23,000	-23.3%	£30,000	-14.3%	£35,000	-16.7%	£42,000
Audit Fees	£27,000	3.8%	£26,000	-13.3%	£30,000	-28.6%	£42,000	-12.5%	£48,000
Interest Payments	£168,000	-51.4%	£346,000	-8.5%	£378,000	24.3%	£304,000	120.3%	£138,000
Pre Tax Profit	£246,000	317.7%	-£113,000	85.5%	-£779,000	60.4%	-£1,967,000	-82.1%	-£1,080,000
Taxation	-£123,000	-459.1%	-£22,000	33.3%	-£33,000	-121.2%	£156,000	313.7%	-£73,000
Profit After Tax	£123,000	191.1%	-£135,000	83.4%	-£812,000	55.2%	-£1,811,000	-57.1%	-£1,153,000
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	£123,000	191.1%	-£135,000	83.4%	-£812,000	55.2%	-£1,811,000	-57.1%	-£1,153,000

Balance Sheet

Date Of Accounts	28/02/14	(%)	28/02/13	(%)	29/02/12	(%)	28/02/11	(%)	28/02/10
Tangible Assets	£24,000	-14.3%	£28,000	-33.3%	£42,000	-36.4%	£66,000	-30.5%	£95,000
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£24,000	-14.3%	£28,000	-33.3%	£42,000	-36.4%	£66,000	-30.5%	£95,000
Stock	0	-	0	-	0	-	0	-	0
Trade Debtors	£497,000	31.1%	£379,000	16.6%	£325,000	38.9%	£234,000	13.6%	£206,000
Cash	£124,000	-24.8%	£165,000	96.4%	£84,000	-73.2%	£314,000	188.1%	£109,000
Other Debtors	£1,324,000	4.6%	£1,266,000	-3%	£1,305,000	-35.4%	£2,019,000	-31.7%	£2,954,000
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£1,945,000	7.5%	£1,810,000	5.6%	£1,714,000	-33.2%	£2,567,000	-21.5%	£3,269,000
Trade Creditors	£210,000	-7.9%	£228,000	204%	£75,000	-3.8%	£78,000	-20.4%	£98,000
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	£5,296,000	0.5%	£5,272,000	0.6%	£5,243,000	-0.6%	£5,273,000	27.4%	£4,139,000
Miscellaneous Current Liabilities	£144,000	1.4%	£142,000	34%	£106,000	-19.1%	£131,000	-17.1%	£158,000
Total Current Liabilities	£5,650,000	0.1%	£5,642,000	4%	£5,424,000	-1.1%	£5,482,000	24.7%	£4,395,000
Bank Loans & Overdrafts and LTL	0	-	0	-100%	£1,000	-87.5%	£8,000	-46.7%	£15,000
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	0	-	0	-100%	£1,000	-87.5%	£8,000	-46.7%	£15,000

Capital & Reserves

Date Of Accounts	28/02/14	(%)	28/02/13	(%)	29/02/12	(%)	28/02/11	(%)	28/02/10
Called Up Share Capital	£200,000	-	£200,000	-	£200,000	-	£200,000	-	£200,000
P & L Account Reserve	-£9,681,000	1.3%	-£9,804,000	-1.4%	-£9,669,000	-9.2%	-£8,857,000	-25.7%	-£7,046,000
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£5,800,000	-	£5,800,000	-	£5,800,000	-	£5,800,000	-	£5,800,000
Shareholder Funds	-£3,681,000	3.2%	-£3,804,000	-3.7%	-£3,669,000	-28.4%	-£2,857,000	-173.1%	-£1,046,000

Other Financial Items

Date Of Accounts	28/02/14	(%)	28/02/13	(%)	29/02/12	(%)	28/02/11	(%)	28/02/10
Net Worth	-£3,681,000	3.2%	-£3,804,000	-3.7%	-£3,669,000	-28.4%	-£2,857,000	-173.1%	-£1,046,000
Working Capital	-£3,705,000	3.3%	-£3,832,000	-3.3%	-£3,710,000	-27.3%	-£2,915,000	-158.9%	-£1,126,000
Total Assets	£1,969,000	7.1%	£1,838,000	4.7%	£1,756,000	-33.3%	£2,633,000	-21.7%	£3,364,000
Total Liabilities	£5,650,000	0.1%	£5,642,000	4%	£5,425,000	-1.2%	£5,490,000	24.5%	£4,410,000
Net Assets	-£3,681,000	3.2%	-£3,804,000	-3.7%	-£3,669,000	-28.4%	-£2,857,000	-173.1%	-£1,046,000

Cash Flow

Date Of Accounts	28/02/14	(%)	28/02/13	(%)	29/02/12	(%)	28/02/11	(%)	28/02/10
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	28/02/14	(%)	28/02/13	(%)	29/02/12	(%)	28/02/11	(%)	28/02/10
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	-£3,681,000	3.2%	-£3,804,000	-3.7%	-£3,668,000	-28.7%	-£2,849,000	-176.3%	-£1,031,000
Number of Employees	28	7.7%	26	-7.1%	28	-30%	40	-24.5%	53
Auditors	KPMG LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	HSBC BANK PLC
Bank Branch Code

Ratios

Date Of Accounts	28/02/14	28/02/13	29/02/12	28/02/11	28/02/10
Pre-tax profit margin %	6.83	-4.18	-31.44	-89.65	-38.56
Current ratio	0.34	0.32	0.32	0.47	0.74
Sales/Net Working Capital	-0.97	-0.71	-0.67	-0.75	-2.49
Gearing %	0	0	0	-0.30	-1.40
Equity in %	-186.90	-207	-208.90	-108.50	-31.10
Creditor Days	21.20	30.70	11.01	12.94	12.73
Debtor Days	50.19	51.03	47.74	38.82	26.77
Liquidity/Acid Test	0.34	0.32	0.31	0.46	0.74
Return On Capital Employed %	-6.68	2.97	21.23	69.04	104.75
Return On Total Assets Employed %	12.49	-6.14	-44.36	-74.70	-32.10
Current Debt Ratio	-1.53	-1.48	-1.47	-1.91	-4.20
Total Debt Ratio	-1.53	-1.48	-1.47	-1.92	-4.21
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-6.68	2.97	21.23	68.84	103.25

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Enquiries Trend

There have been 17 enquiries in the last 12 months.

There are an average of 1 reports taken each month.

Current Company Secretary

Name	Lisa Vania Gladdish	Date of Birth	17/05/1969
Officers Title	Ms	Nationality	British
Present Appointments	2	Function	Company Secretary
Appointment Date	20/03/2000
Address	1 Filston Road, Erith, Kent, DA8 1QA

Status History

No Status History found

Event History

Date	Description
14/07/2014	New Accounts Filed
14/07/2014	New Accounts Filed
20/09/2013	Annual Returns
30/07/2013	A.E. Strudwick has left the board
30/07/2013	New Board Member Miss L. Finn appointed
26/07/2013	New Accounts Filed
26/07/2013	New Accounts Filed
11/10/2012	New Board Member Mr J. Hinchcliffe appointed
10/10/2012	Mr J.J. Tulleners has left the board
21/09/2012	Annual Returns
10/07/2012	New Accounts Filed
10/07/2012	New Accounts Filed
27/04/2012	New Board Member A.E. Strudwick appointed
05/11/2011	Annual Returns
11/07/2011	New Accounts Filed

A new rating system was introduced on 24/08/2014.

14/07/2014	£9,500
26/07/2013	£12,500
11/10/2012	£6,000

10/10/2012	£5,500
10/07/2012	£6,000
27/04/2012	£22,000
22/11/2011	£21,500
11/07/2011	£14,000

Previous Company Names

No Previous Names found

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Peter Martyn Foster	13	53
Peter Martyn Foster	13	53
Leo Wraftsil	0	1
Melanie Jayne Liston	1	1
Detlef Hahne	0	1
Hans-Christoph Fischer	0	1
Johann Fenske	0	1
Gabriele Fahning	0	1
Kraftsik Udo	0	1
Christopher D'Cruze	8	36
Christopher D'Cruze	8	36
Bernd Houillon	0	1
Annette Karin Koeman	0	1
Volker Bahnsen	0	1
Gert Rietz	0	4
Michael Edmund Crusemann	0	4
Richard Allan Caring	40	30
Hans-Otto Schrader	0	4
John Irvin	0	1
Melissa Joy Payner Gregor	0	1
Geralynn Madonna	0	1
Marina Fuchs Halbgewachs	0	2
Peter Gelsdorf	0	1
Karl Peter Forster	0	1
Willi Darr	0	1
Jakob Jacobus Koert Tulleners	2	3
Oliver MacConnell-Krame	0	1
Alys Elizabeth Strudwick	0	1

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.
Net Worth increased by 3.2% during the latest trading period.
The company saw a decrease in their Cash Balance of 24.8% during the latest trading period.

There has been no significant change in the company's credit rating.
A 7.1% growth in Total Assets occurred during the latest trading period.
Pre-tax profits increased by 317.7% compared to the previous trading period.
The audit report contains no adverse comments.
The company has undergone recent changes in its directorships.
The company is part of a group.
The company was established over 30 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 :	SUM

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.

Name	Number	Latest Key Financials	Turnover
OTTO AKTIENGESELLSCHAFT FÜR BETEILIGUNGEN	HRB 13422	28.02.2013	€12,619,640,000
ZWEITE MERCATOR VERMIETUNGSGESELLSCHAFT MBH	HRB 79505	28.02.2013
SCHWAB VERSAND GMBH	HRB 1073	28.02.2013	€352,772,711
OTTO FREIZEIT UND TOURISTIK GMBH	HRB 53725	31.12.2012	€67,796,000
KOMMANDITGESELLSCHAFT DELTA BETEILIGUNGSGESELLSCHAFT M.B.H. & CO.	HRA 69602	31.12.2011
ARGOSYN	477180467	31.12.2013	€36,605,175
GRUNDSTÜCKS-VERWALTUNGSGESELLSCHAFT HALDENSLEBEN MBH & CO KG	HRA 96799	28.02.2013
C.J. VOGEL AKTIENGESELLSCHAFT FÜR BETEILIGUNGEN	HRB 70722	28.02.2013
EOS SAF FORDERUNGSMANAGEMENT GMBH	HRB 335528	31.12.2009	€56,979,320
PROJECT A VENTURES GMBH & CO. KG	HRA 45975 B	29.02.2012
OTTO GRUNDSTÜCKSBETEILIGUNGSGESELLSCHAFT M.B.H	HRB 49294	28.02.2013	€86,797,786
KOMMANDITGESELLSCHAFT DELTA GRUNDSTÜCKSGESELLSCHAFT M.B.H. & CO.	HRA 86638	31.12.2011
RATEPAY GMBH	HRB 124156 B	28.02.2013
WCF FINETRADING GMBH	HRB 183148	31.12.2012	€170,324,180
FORUM GRUNDSTÜCKSGESELLSCHAFT M.B.H.	HRB 11490	29.02.2012
GERRY WEBER RETAIL STORES GMBH & CO. KG	HRA 6632	31.12.2010	€7,961,037
GRUNDSTÜCKS-VERWALTUNGSGESELLSCHAFT VERSANDBETRIEB BRAMFELD MBH	HRB 28881	29.02.2012
CROIX INDUSTRIE-ADMINISTRATION G.M.B.H.	HRB 28317	29.02.2012
A S C Q INDUSTRIE-ADMINISTRATION G.M.B.H.	HRB 28373	29.02.2012
COXULTO MARKETING SOLUTIONS GMBH	HRB 123077	31.12.2012