MIRA INFORM REPORT

Report No. :	334750
Report Date :	01.08.2015

IDENTIFICATION DETAILS

Name :	MARKS AND SPENCER P.L.C.
Registered Office :	Waterside House London W2 1NW
Country :	United Kingdom
Financials (as on) :	29.03.2014
Date of Incorporation :	17.06.1926
Com. Reg. No.:	00214436
Legal Form :	Public limited with Share Capital
Line of Business :	A group engaged as retailers and sell high quality, great value clothing and home products as well as outstanding quality of food
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 :	Good
Payment Behaviour :	Regular
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.

UNITED KINGDOM - ECONOMIC OVERVIEW

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. 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. In 2008, 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. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. 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 20% by 2015. However, the deficit still remains one of the highest in the G7, standing at 5.8% in 2013. The Bank of England (BoE) implemented an asset purchase program of �375 billion (approximately $586 billion) as of December 2014. 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 1.8%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

Source : CIA

Company Name

MARKS AND SPENCER P.L.C.

Company No

00214436

Company Status

Active - Accounts Filed

Summary

Registered Address WATERSIDE HOUSE

35 NORTH WHARF ROAD

LONDON
W2 1NW

Trading Address Waterside House

35 North Wharf Road

London
W2 1NW

Website Address http://www.marksandspencer.com

Telephone Number 02089942236

Fax Number

TPS No

FPS No

Incorporation Date 17/06/1926

Previous Name -

Type Public limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 25/09/2014

Currency GBP

Share Capital £712,509,869

SIC07 47190

Charity Number -

SIC07 Description OTHER RETAIL SALE IN NON-SPECIALISED STORES

Principal Activity A group engaged as retailers and sell high quality, great value clothing and home products as well as outstanding quality of food.

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

29/03/2014 £10,309,700,000 £580,400,000 £5,192,400,000 85813

30/03/2013 £10,026,800,000 £547,200,000 £5,103,400,000 81734

31/03/2012 £9,934,300,000 £658,000,000 £5,372,100,000 54984

Mortgage Summary

Total Mortgage 13

Outstanding 0

Satisfied 13

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 1

Total Value of Documented Trade £120

Commentary

This company has been treated as a Large company in respect of the rating/limit generated.

This is a very large company with total assets in excess of £5 billion and shareholders' funds greater than £50 million.

This company's return on total assets employed ratio indicates a relatively efficient use of assets.

This company has made late payments on a medium percentage of invoices.

This company's ratio of total liabilities to total assets indicates the presence of moderate equity funding.

This company's bank loans and overdrafts (less cash) account for a moderate percentage of short term liabilities.

CCJ

Total Number of Exact CCJs -	5	Total Value of Exact CCJs -	£19,774
Total Number of Possible CCJs -	3	Total Value of Possible CCJs -	£1,970
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	-

Total Current Directors	4
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	56

Current Directors

Name	Amanda Mellor	Date of Birth	07/03/1964
Officers Title	Ms	Nationality	British
Present Appointments	60	Function	Director
Appointment Date	17/07/2009
Address	35 North Wharf Road, London, W2 1NW

Name	Marc Bolland	Date of Birth	28/03/1959
Officers Title	Mr	Nationality	Dutch
Present Appointments	3	Function	Director
Appointment Date	14/07/2010
Address	Waterside House 35 North Wharf Road, London, W2 1NW

Name	Helen Alison Weir	Date of Birth	17/08/1962
Officers Title	Mrs	Nationality	British
Present Appointments	23	Function	Director
Appointment Date	01/04/2015
Address	Waterside House 35 North Wharf Road, London, W2 1NW

Name	Stephen Joseph Rowe	Date of Birth	22/07/1967
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	17/07/2015
Address	Waterside House, 35 North Wharf Road, London, W2 1NW

Current Company Secretary

Name	Amanda Mellor	Date of Birth	-
Officers Title	Ms	Nationality	British
Present Appointments	2	Function	Company Secretary
Appointment Date	30/07/2009
Address	Waterside House 35 North Wharf Road, London, W2 1NW

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MARKS & SPENCER GROUP PLC	GBP	2,850,039,477	ORDINARY	0.25	100

Profit & Loss

	Date Of Accounts	29/03/14	(%)	30/03/13	(%)	31/03/12	(%)	02/04/11	(%)	03/04/10
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	53
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	Y	(%)	Y	(%)	Y	(%)	Y	(%)	Y
	Turnover	£10,309,700,000	2.8%	£10,026,800,000	0.9%	£9,934,300,000	2%	£9,740,300,000	2.1%	£9,536,600,000
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	-	-	-	-	-	-	-	-100%	£5,918,100,000
	Gross Profit	-	-	-	-	-	-	-	-	£3,618,500,000
	Wages & Salaries	£1,410,900,000	6.5%	£1,324,200,000	-63.6%	£3,638,600,000	188%	£1,263,500,000	0.3%	£1,259,400,000
	Directors Emoluments	£2,000,000	-25.9%	£2,700,000	-99.9%	£2,386,000,000	-49.4%	£4,711,000,000	999.9%	£8,570,000
	Operating Profit	£694,500,000	-7.8%	£753,000,000	0.9%	£746,500,000	-10.8%	£836,900,000	-1.8%	£852,000,000
	Depreciation	£379,700,000	1.5%	£374,100,000	-7.6%	£404,800,000	-2.8%	£416,500,000	5.7%	£394,200,000
	Audit Fees	£900,000	-10%	£1,000,000	-	£1,000,000	-	£1,000,000	-28.6%	£1,400,000
	Interest Payments	£139,100,000	-36.3%	£218,200,000	59.5%	£136,800,000	-10.5%	£152,900,000	-5.7%	£162,200,000
	Pre Tax Profit	£580,400,000	6.1%	£547,200,000	-16.8%	£658,000,000	-15.7%	£780,600,000	11.1%	£702,700,000
	Taxation	-£91,100,000	-6.3%	-£85,700,000	49.1%	-£168,400,000	7.5%	-£182,000,000	-1.3%	-£179,700,000
	Profit After Tax	£489,300,000	6%	£461,500,000	-5.7%	£489,600,000	-18.2%	£598,600,000	14.5%	£523,000,000
	Dividends Payable	£273,600,000	-	£273,600,000	-	£273,600,000	9.1%	£250,800,000	6.3%	£236,000,000
	Retained Profit	£234,500,000	19.3%	£196,600,000	2.1%	£192,500,000	-42.4%	£334,400,000	16.5%	£287,000,000

Balance Sheet

	Date Of Accounts	29/03/14	(%)	30/03/13	(%)	31/03/12	(%)	02/04/11	(%)	03/04/10
	Tangible Assets	£5,740,000,000	0.7%	£5,698,200,000	7.9%	£5,280,500,000	1.5%	£5,204,500,000	0.5%	£5,180,200,000
	Intangible Assets	£808,400,000	16.3%	£695,000,000	18.9%	£584,300,000	10.7%	£527,700,000	16.5%	£452,800,000
	Total Fixed Assets	£6,548,400,000	2.4%	£6,393,200,000	9%	£5,864,800,000	2.3%	£5,732,200,000	1.8%	£5,633,000,000
	Stock	£845,500,000	10.2%	£767,300,000	12.5%	£681,900,000	-0.5%	£685,300,000	11.8%	£613,200,000
	Trade Debtors	£126,800,000	17.1%	£108,300,000	-5.5%	£114,600,000	16.6%	£98,300,000	11.1%	£88,500,000
	Cash	£182,100,000	-5.7%	£193,100,000	-1.5%	£196,100,000	-58.3%	£470,200,000	15.9%	£405,800,000
	Other Debtors	£182,700,000	33.7%	£136,700,000	-1.2%	£138,400,000	-8.9%	£152,000,000	-21.2%	£192,900,000
	Miscellaneous Current Assets	£2,503,200,000	-3%	£2,579,300,000	-10.2%	£2,870,800,000	1.5%	£2,827,700,000	999.9%	£219,800,000
	Total Current Assets	£3,840,300,000	1.5%	£3,784,700,000	-5.4%	£4,001,800,000	-5.5%	£4,233,500,000	178.5%	£1,520,200,000
	Trade Creditors	£1,144,000,000	17.6%	£972,700,000	1.4%	£959,500,000	4.4%	£919,200,000	16%	£792,200,000
	Bank Loans & Overdrafts	£445,500,000	193.5%	£151,800,000	295.3%	£38,400,000	-86%	£274,800,000	-41.4%	£469,300,000
	Other Short Term Finance	£126,600,000	-74.3%	£492,500,000	16.8%	£421,700,000	-6.3%	£450,100,000	299.7%	£112,600,000
	Miscellaneous Current Liabilities	£633,200,000	4.7%	£604,600,000	3.2%	£585,800,000	3.5%	£566,100,000	9.6%	£516,400,000
	Total Current Liabilities	£2,349,300,000	5.7%	£2,221,600,000	10.8%	£2,005,400,000	-9.3%	£2,210,200,000	16.9%	£1,890,500,000
	Bank Loans & Overdrafts and LTL	£3,292,500,000	9.6%	£3,004,700,000	18.9%	£2,527,500,000	-7.6%	£2,735,200,000	-23.2%	£3,563,400,000
	Other Long Term Finance	£572,200,000	1.5%	£563,800,000	-71.5%	£1,975,000,000	999.9%	£103,400,000	35.7%	£76,200,000
	Total Long Term Liabilities	£2,847,000,000	-0.2%	£2,852,900,000	14.6%	£2,489,100,000	1.2%	£2,460,400,000	-20.5%	£3,094,100,000

Capital & Reserves

	Date Of Accounts	29/03/14	(%)	30/03/13	(%)	31/03/12	(%)	02/04/11	(%)	03/04/10
	Called Up Share Capital	£712,500,000	-	£712,500,000	-	£712,500,000	-	£712,500,000	80.2%	£395,500,000
	P & L Account Reserve	£4,127,600,000	3.5%	£3,987,600,000	4.3%	£3,822,800,000	3.3%	£3,700,000,000	-29.9%	£5,281,900,000
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	£352,300,000	-12.6%	£403,300,000	-51.8%	£836,800,000	-5.2%	£882,600,000	125.2%	-£3,508,800,000
	Shareholder Funds	£5,192,400,000	1.7%	£5,103,400,000	-5%	£5,372,100,000	1.5%	£5,295,100,000	144.2%	£2,168,600,000

Other Financial Items

Date Of Accounts	29/03/14	(%)	30/03/13	(%)	31/03/12	(%)	02/04/11	(%)	03/04/10
Net Worth	£4,384,000,000	-0.6%	£4,408,400,000	-7.9%	£4,787,800,000	0.4%	£4,767,400,000	177.9%	£1,715,800,000
Working Capital	£1,491,000,000	-4.6%	£1,563,100,000	-21.7%	£1,996,400,000	-1.3%	£2,023,300,000	646.4%	-£370,300,000
Total Assets	£10,388,700,000	2.1%	£10,177,900,000	3.2%	£9,866,600,000	-1%	£9,965,700,000	39.3%	£7,153,200,000
Total Liabilities	£5,196,300,000	2.4%	£5,074,500,000	12.9%	£4,494,500,000	-3.8%	£4,670,600,000	-6.3%	£4,984,600,000
Net Assets	£5,192,400,000	1.7%	£5,103,400,000	-5%	£5,372,100,000	1.5%	£5,295,100,000	144.2%	£2,168,600,000

Cash Flow

	Date Of Accounts	29/03/14	(%)	30/03/13	(%)	31/03/12	(%)	02/04/11	(%)	03/04/10
	Net Cashflow from Operations	£1,129,600,000	-0.9%	£1,140,200,000	-5.2%	£1,203,000,000	0.3%	£1,199,900,000	-2.4%	£1,229,000,000
	Net Cashflow before Financing	£514,700,000	-8.1%	£559,800,000	25.7%	£445,200,000	-37.2%	£709,400,000	1.4%	£699,400,000
	Net Cashflow from Financing	-£498,100,000	16.4%	-£595,800,000	-16.6%	-£511,000,000	21.1%	-£647,400,000	18.4%	-£792,900,000
	Increase in Cash	£16,600,000	146.1%	-£36,000,000	45.3%	-£65,800,000	-206.1%	£62,000,000	166.3%	-£93,500,000

Miscellaneous

	Date Of Accounts	29/03/14	(%)	30/03/13	(%)	31/03/12	(%)	02/04/11	(%)	03/04/10
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	YES
	Capital Employed	£8,039,400,000	1%	£7,956,300,000	1.2%	£7,861,200,000	1.4%	£7,755,500,000	47.4%	£5,262,700,000
	Number of Employees	85813	5%	81734	48.7%	54984	0.6%	54675	-28.3%	76267
	Accountants
	Auditors	PRICEWATERHOUSECOOPERS LLP
	Auditor Comments	The audit report contains no adverse comments
	Bankers	HSBC BANK PLC
	Bank Branch Code

Ratios

	Date Of Accounts	29/03/14	30/03/13	31/03/12	02/04/11	03/04/10
	Pre-tax profit margin %	5.63	5.46	6.62	8.01	7.37
	Current ratio	1.63	1.70	2	1.92	0.80
	Sales/Net Working Capital	6.91	6.41	4.98	4.81	-25.75
	Gearing %	63.40	58.90	47	51.70	164.30
	Equity in %	54.20	53.80	57.90	56.10	32.40
	Creditor Days	40.39	35.31	35.15	34.35	30.81
	Debtor Days	4.47	3.93	4.19	3.67	3.44
	Liquidity/Acid Test	1.27	1.35	1.65	1.60	0.47
	Return On Capital Employed %	7.21	6.87	8.37	10.06	13.35
	Return On Total Assets Employed %	5.58	5.37	6.66	7.83	9.82
	Current Debt Ratio	0.45	0.43	0.37	0.41	0.87
	Total Debt Ratio	1	0.99	0.83	0.88	2.29
	Stock Turnover Ratio %	8.20	7.65	6.86	7.03	6.42
	Return on Net Assets Employed %	11.17	10.72	12.24	14.74	32.40

Report Notes

There are no notes to display

Status History

No Status History found

Event History

Date	Description
27/07/2015	Mr J.W. Dixon has left the board
27/07/2015	New Board Member Mr S.J. Rowe appointed
13/04/2015	New Board Member Ms H. Weir appointed
25/02/2015	Annual Returns
08/10/2014	New Accounts Filed
08/10/2014	New Accounts Filed
24/07/2014	Mr A.J. Stewart has left the board
25/06/2014	New Board Member Mr A.J. Stewart appointed
17/02/2014	Annual Returns
23/10/2013	New Board Member Mr J.W. Dixon appointed
10/10/2013	New Accounts Filed
10/10/2013	New Accounts Filed
23/08/2013	Dr S.M. Sharp has left the board
08/03/2013	Annual Returns
21/09/2012	New Accounts Filed

Previous Company Names

No Previous Names found

Writ Details

No writs found

Statistics

Group	51 companies
Linkages	6 companies
Countries	In 2 countries

Summary

Holding Company	MARKS AND SPENCER GROUP P.L.C.
Ownership Status	Wholly Owned
Ultimate Holding Company	MARKS AND SPENCER GROUP P.L.C.

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
MARKS AND SPENCER GROUP...	04256886	28.03.2015	Y	£10,311,400,000
MARKS AND SPENCER (NED...	33098668	31.03.2014	N
MARKS AND SPENCER (I...	IE016855	29.03.2014	N
APRELL LIMITED	IE243068	29.03.2014	N
MARKS AND SPENCER IN...	04903061	29.03.2014	N	£1,133,000
MARKS AND SPENCER (INI...	SC315365	29.03.2014	N	£5
MARKS AND SPENCER PENS...	00326199	31.03.2014	N
MARKS AND SPENCER PE...	05193992	31.03.2014	N
MARKS AND SPENCER P.L.C.	00214436	29.03.2014	Y	£10,309,700,000
MARKS AND SPENCER 20...	05502478	29.03.2014	N	£1,170,000
MARKS AND SPENCER 20...	05502502	29.03.2014	N	£1,630,000
MARKS AND SPENCER (P...	05502513	29.03.2014	N	£300,000
MARKS AND SPENCER 20...	05502519	29.03.2014	N	£700,000
MARKS AND SPENCER 20...	05502520	29.03.2014	N	£1,500,000
MARKS AND SPENCER 20...	05502523	29.03.2014	N	£1,400,000
MARKS AND SPENCER 20...	05502538	29.03.2014	N	£2,336,000
MARKS AND SPENCER 20...	05502542	29.03.2014	N	£1,000,000
MARKS AND SPENCER 20...	05502544	29.03.2014	N	£1,965,000
MARKS AND SPENCER 20...	05502546	29.03.2014	N	£500,000
MARKS AND SPENCER (P...	05502582	29.03.2014	N
MARKS AND SPENCER 20...	05502588	29.03.2014	N	£160,000
MARKS AND SPENCER 20...	05502598	29.03.2014	N	£118,000
MARKS AND SPENCER 20...	05502608	29.03.2014	N	£1,570,000
M & S LIMITED	05946613	29.03.2014	N
AMETHYST LEASING (HO...	04246649	29.03.2014	N
AMETHYST LEASING (...	04246934	29.03.2014	N	£373,000
BUSYEXPORT LIMITED	04411320	29.03.2014	N	£447,000
MANFORD (TEXTILES) L...	00237629	29.03.2014	N
ST.MICHAEL (TEXTIL...	00386149	29.03.2014	N
MARKS & SPENCER OUTL...	04039568	29.03.2014	N	£18,490,236
MARKS & SPENCER SIMP...	04739922	29.03.2014	N	£653,471,000
MARKS AND SPENCER SH...	04461788	29.03.2014	N	£13,081,000
MARKS AND SPENCER FR...	05502548	29.03.2014	N	£40,807,175
MARKS AND SPARKS LIM...	00773110	29.03.2014	N
MARKS AND SPENCER IN...	02615081	29.03.2014	N	£77,079,000
MARKS AND SPENCER...	08540784	29.03.2014	N
MARKS AND SPENCER PR...	02100781	29.03.2014	N	£256,000
MARKS AND SPENCER...	02094786	29.03.2014	N
MARKS AND SPENCER...	05174129	29.03.2014	N	£2,246,000
MARKS AND SPENCER (N...	NI004091	29.03.2014	N
MINTERTON SERVICES L...	04763836	29.03.2014	N	£455,431
PER UNA GROUP LIMITED	05149488	29.03.2014	N	£7,723,000
RUBY PROPERTIES (HAR...	04716018	29.03.2014	N	£1,227,000
RUBY PROPERTIES (LON...	04716031	29.03.2014	N	£1,198,000
RUBY PROPERTIES (TUN...	04716032	29.03.2014	N	£1,282,000
RUBY PROPERTIES (THO...	04716110	29.03.2014	N	£681,000
RUBY PROPERTIES (ENF...	04716390	29.03.2014	N	£2,068,000
RUBY PROPERTIES (CUM...	04922798	29.03.2014	N	£1,806,000
ST. MICHAEL FINANCE...	01339700	29.03.2014	N	£1,185,000
SIMPLY FOOD (PROPERT...	02239799	29.03.2014	N	£765,000
SIMPLY FOOD (PROPE...	05502543	29.03.2014	N	£59,000

Other Linked Companies

Name	Number	Latest Key Financials	Turnover
MARKS AND SPENCER B.V.	34287696	31.03.2014
MARKS AND SPENCER STORES B.V.	33225985	31.03.2014
M & S MODE INTERNATIONAL B.V.	33235552	31.03.2014
MARKS AND SPENCER NEDERLAND (RETAIL) B.V.	55457398	29.03.2014	€7,547,759
J SAINSBURY HOLDINGS	IE210097	15.03.2014
JS FINANCE CORPORATION	IE210098	15.03.2014

Exact CCJ Details

Date	Court	Amount	Status	Case Number	Date Paid
08/05/2015	COUNTY COURT BUSINESS CENTRE	£461	Judgment	B1FK214W	-
23/02/2012	CHELMSFORD	£17,839	Judgment	0DA02211	-
20/07/2011	WILLESDEN	£1	Judgment	0SK01228	-
02/06/2010	BODMIN	£661	Judgment	9BJ01102	-
21/03/2010	NORTHAMPTON CCBC	£812	Judgment	0QT14251	-

Possible CCJs Details

Possible CCJ matches show CCJs that may be matched to a company based on various criteria such as similar trading names or addresses. This data is provided for your information only as an aid to decision-making and does not affect a company’s rating.

Date	Court	Amount	Status	Case Number	Date Paid	Registered CCJ Details
26/03/2010	WAKEFIELD	£755	Judgment	0WF00220	-	MARKS AND SPENCER PLC, CHESTER BUSINESS PARK, WREXHAM ROAD, CHESTER, CH4 9GA, CH4 9GA
21/02/2010	NORTHAMPTON CCBC	£240	Satisfied	0XJ02587	20/04/2010	MARKS AND SPENCER PLC, WESTWAY STUDIOS, 54 WOOD LANE, WHITE CITY, W12 7QR, W12 7QR
25/11/2009	NORTHAMPTON CCBC	£975	Judgment	9XJ29488	-	MARKS AND SPENCER PLC, UNIT B, WESTFIELD SHOPPING CENTRE, AREIL WAY, , W12 7GA

Mortgage Details

Mortgage Type:	A SUBORDINATED LOAN SECURITY DEED MADE BETWEEN THE COMPANY, LAW DEBENTURE TRUSTEES LIMITED (THE "TRUSTEE" WHICH EXPRESSION SHALL INCLUDE SUCH COMPANY AND ALL OTHER PERSONS FOR THE TIME BEING ACTING ASTRUSTEE)
Date Charge Created:	12/12/01
Date Charge Registered:	21/12/01
Date Charge Satisfied:	20/06/07
Status:	SATISFIED
Person(s) Entitled:	LAW DEBENTURE TRUSTEES LIMITED
Amount Secured:	ALL DEBTS, MONIES AND LIABILITIES FROM TIME TO TIME DUE, OWING OR INCURRED BY THE COMPANY TO THE BORROWER UNDER CLAUSE 7 (4) ) OF THE TAX DEED OF COVENANT (ALLTERMS AS DEFINED)
Details:	BY WAY OF FIRST FIXED SECURITY IN FAVOUR OF THE TRUSTEE FOR ITSELF AND AS TRUSTEE FOR THE BORROWER ALL ITS RIGHT, TITLE, INTEREST AND BENEFIT, PRESENT AND FUTURE, IN TO AND UNDER THE SUBORDINATED LOAN.. SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Mortgage Type:	A LEASEHOLD CONTINGENCY DEED OF CHARGE MADE BETWEEN THE COMPANY, LAW DEBENTURE TRUSTEES LIMITED (THE"SECURITY TRUSTEE"WHICH EXPRESSION SHALL INCLUDE SUCH COMPANY AND ALL OTHER PERSONS FOR THE TIME BEING ACTING AS SECURITY TRUSTEE PURSUANT TO THE DEED) AND EACH OTHER PARTY AS DEFINED IN THE BORROWERDEED OF CHARGE
Date Charge Created:	12/12/01
Date Charge Registered:	21/12/01
Date Charge Satisfied:	20/06/07
Status:	SATISFIED
Person(s) Entitled:	LAW DEBENTURE TRUSTEES LIMITED
Amount Secured:	THE PAYMENT OR DISCHARGE OF THE AGGREGATE OF ALL MONIES AND LIABILITIES WHATSOEVER WHICH FROM TIME TO TIME ARE OR MAY BECOME DUE, OWING OR PAYABLE BY THE BORROWER TO THE BORROWER SECURED CREDITORS UNDER THE TRANSACTION DOCUMENTS (ALL TERMSAS DEFINED)
Details:	(1) CHARGED BY WAY OF FIRST LEGAL MORTGAGE TO THE FULLEST EXTENT POSSIBLE THE BARE LEGAL ESTATE OF EACH OF THE PROPERTIES AT 23 BROADWAY, ACCRINGTON; 23-29 QUEENSWAY, CRAWLEY; 133/137 TERMINUS ROAD, EASTBOURNE; 371 HARROGATE ROAD, MOORTOWN, LEEDS; 19/31 FARGATE, SHEFFIELD; 147/153 HIGH STREET, SLOUGH; AND 32/40 PARADE, CUTTON COLDFIELD.. SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Mortgage Type:	DEED OF RELEASE AND CHARGE EFFECTING SUBSTITUTION OF SECURITY
Date Charge Created:	17/07/90
Date Charge Registered:	07/08/90
Date Charge Satisfied:	09/02/01
Status:	SATISFIED
Person(s) Entitled:	THE PRUDENTIAL ASSURANCE COMPANY LIMITED
Amount Secured:	£45,000,000 DUE FROM THE COMPANY TO THECHARGEE SECURED BY A TRUST DEED DATED 27/3/79
Details:	BY A TRUST DEED DATED 27TH MARCH 1979 CERTAIN PROPERTY WAS CHARGED BY WAY OF LEGAL MORTGAGE BY A DEED OF EXCHANGE DATED17/7/90 CERTAIN LAND WAS RECEIVED BY THE COMPANY FROM THE L/BOROUGH OF BROMLEY THIS LAND COMPRISES TWO PARTS OF F/H LAND FORMING PART OF THE LAND REGISTERED WITH T/N SGL 522255. BYA DEED OF RELEASE AND CHARGE BY WAY OF LEGAL MORTGAGE DATED 17/7/90 THE LAND RECEIVED BY THE COMPANYWAS MADE SUBJECT TO THE LEGAL MORTGAGE IN THE TRUST DEED DATED 27/3/79.
Mortgage Type:	TRANSFER
Date Charge Created:	05/08/88
Date Charge Registered:	23/08/88
Date Charge Satisfied:	03/10/01
Status:	SATISFIED
Person(s) Entitled:	THE SECRETARY OF STATE FOR DEFENCE.
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE CHARGE
Details:	F/H LAND PART OF THE MEADOWS, SANDHURST, CAMBERLEY, BERKS. COMPRISING APPROX. 14 ACRES.
Mortgage Type:	DEED OF FURTHER CHARGE
Date Charge Created:	19/04/84
Date Charge Registered:	24/04/84
Date Charge Satisfied:	09/02/01
Status:	SATISFIED
Person(s) Entitled:	THE PRUDENTIAL ASSURANCE COMPANY LIMITED.
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF A TRUST DEED DATED 27.3.1979.
Details:	F/H LAND AT THE REAR OF SPRING GARDENS,BUXTON DERBYSHIRE. LAND TO THE NORTH OFSPRING GARDENS BUXTON,DERBYSHIRE. TOGETHER WITH ALL BUILDINGS ERECTIONS FIXTURES & FITTINGS FIXED PLANT & MACHINERY.
Mortgage Type:	DEED OF FURTHER CHARGE
Date Charge Created:	29/12/83
Date Charge Registered:	04/01/84
Date Charge Satisfied:	09/02/01
Status:	SATISFIED
Person(s) Entitled:	THE PRUDENTIAL ASSURANCE COMPANY LIMITED.
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF A TRUST DEED DATED 27.3.79.
Details:	VARIOUS PROPERTIES IN ALDERSHOT, BROMLEY, CHELMSFORD, CHICHESTER & LEICESTER. (FOR FULL DETAILS SEEDOC. M328).
Mortgage Type:
Date Charge Created:	-
Date Charge Registered:	09/04/79
Date Charge Satisfied:	04/02/95
Status:	SATISFIED
Person(s) Entitled:	THE PRUDENTIAL ASSURANCE COMPANY LIMITED
Amount Secured:
Details:
Mortgage Type:
Date Charge Created:	29/01/70
Date Charge Registered:	29/01/70
Date Charge Satisfied:	12/10/84
Status:	SATISFIED
Person(s) Entitled:	SEE FORM NO. 48 FOR DETAILS
Amount Secured:	WARNING - UNABLE TO DISPLAY AMOUNT SECURED DETAILS
Details:
Mortgage Type:
Date Charge Created:	25/01/68
Date Charge Registered:	25/01/68
Date Charge Satisfied:	27/03/79
Status:	SATISFIED
Person(s) Entitled:	SEE FORM NO. 48 FOR DETAILS
Amount Secured:	WARNING - UNABLE TO DISPLAY AMOUNT SECURED DETAILS
Details:
Mortgage Type:
Date Charge Created:	01/07/66
Date Charge Registered:	01/07/66
Date Charge Satisfied:	27/03/79
Status:	SATISFIED
Person(s) Entitled:	SEE FORM NO. 48 FOR DETAILS
Amount Secured:	WARNING - UNABLE TO DISPLAY AMOUNT SECURED DETAILS
Details:
Mortgage Type:
Date Charge Created:	01/07/65
Date Charge Registered:	01/07/65
Date Charge Satisfied:	27/03/79
Status:	SATISFIED
Person(s) Entitled:	SEE FORM NO. 48 FOR DETAILS
Amount Secured:	WARNING - UNABLE TO DISPLAY AMOUNT SECURED DETAILS
Details:
Mortgage Type:
Date Charge Created:	-
Date Charge Registered:	03/07/61
Date Charge Satisfied:	27/03/79
Status:	SATISFIED
Person(s) Entitled:	SEE FORM NO. 48 FOR DETAILS
Amount Secured:
Details:
Mortgage Type:	CHARGE
Date Charge Created:	20/03/29
Date Charge Registered:	21/03/29
Date Charge Satisfied:	21/07/30
Status:	SATISFIED
Person(s) Entitled:	PRUDENTIAL ASSURANCE COMPANY LIMITED
Amount Secured:	£200,000 & FURTHER ADVANCES NOT EXCEEDING THEREWITH £1,000,000
Details:	THE PROPERTIES LISTED IN THE SCHEDULE ATTACHED TO DOC 45.

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	1	£120
Company Name		Amount	Statement Date
N C S (Cumbria) Limited		£120	22/04/2014

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Alan James McWalter	6	30
Clara Elizabeth Mary Freeman	4	11
Clinton Vita Silver	1	10
Maurice Epstein	0	4
Barry Simon Morris	0	5
Paul Peter Douglas Smith	0	3
John Michael Joseph Keenan	4	22
Anthony Frank Elliott Ball	1	37
Stella Rimington	0	12
Donald George Trangmar	1	6
Charles Wilson	3	32
Christopher Littmoden	0	23
Stuart Alan Ransom Rose	1	20
Andrew Zelig Stone Of Blackheath	2	14
Mark David McKeon	1	5
Martin Wakefield Jacomb	3	27
James Benfield	1	11
Laurel Claire Powers Freeling	2	50
Justin Matthew King	0	5
Luc Emile Vandevelde	0	7
Joseph Thomas Rowe	1	3
Roger Anthony Holmes	9	46
Ian Dyson	0	36
Philip Guy McCracken	8	53
Steven Michael Sharp	1	3
Nigel Lawrence Colne	2	13
Peter Henry Spridoell	0	1
Brian Ford Baldock	2	26
Simon John Sacher	8	9
Richard Greenbury	0	10
John Keith Oates	30	19
Ralph Harry Robins	0	14
Michael Sydney Perry	0	15
Anthony Stanley Orton	1	12
Alan Keith Patrick Smith	7	21
Janet Mary Young	1	8
Robert William Chaigneau Colvill	3	22
John Kevin Lomax	2	106
Graham John Oakley	14	81
Graham John Oakley	14	81
David Ronald Norgrove	0	21
John O'Neill	3	14
Denis George Lanigan	0	2
David Reuben Susman	0	1
Vittorio Radice	2	11
John Anderson Lusher	2	10
David John Eyre	0	9
Peter Leslie Salsbury	5	20
Roger Aldridge	2	14
David Daniel Sieff	8	22
David Valentine Atterton	1	18
Derek Keith Hayes	0	2
Maurice Harold Helfgott	8	15
Alison Clare Reed	2	27
John William Dixon	0	1
Alan James Harris Stewart	11	35
Average Invoice Value		Ł322.81
Invoices available		100039
Paid		99757
Outstanding		282

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	29641	48003	20557	758	798
Outstanding	5	27	45	89	116

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.64.01
UK Pound	1	Rs.99.84
Euro	1	Rs.70.96

INFORMATION DETAILS

Analysis Done by :	KIN
Report Prepared by :	TRU

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.