MIRA INFORM REPORT

Report No. :	353898
Report Date :	16.12.2015

IDENTIFICATION DETAILS

Name :	AWARD APPAREL LIMITED
Formerly Known As :	AWARD APPAREL PLC
Registered Office :	66 Prescot Street London E1 8NN
Country :	United Kingdom
Financials (as on) :	30.06.2014
Date of Incorporation :	29.04.1992
Com. Reg. No.:	02710774
Legal Form :	Private Limited with Share Capital
Line of Business :	· Wholesale of Clothing and Footwear · Import and Distribution of Ladies and Children's Garments.
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 :	Small Company
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 – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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. 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 has been a net importer of energy since 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 6.0% in 2014.

In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.7% and in 2014, 2.6%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

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).

Source : CIA

Company Name and Address

Company Name: AWARD APPAREL LIMITED

Company No: 02710774

Company Status: Active - Accounts Filed

Registered Address: 66 PRESCOT STREET LONDON E1 8NN

Company Summary

Registered Address 66 PRESCOT STREET, LONDON, E1 8NN

Trading Address Kingsfield House, 66 Prescot Street, London, E1 8NN

Website Address http://www.award-apparel.plc.uk

Telephone Number -

Fax Number 02087491792

TPS -

FPS Yes

Incorporation Date 29/04/1992

Previous Name AWARD APPAREL PLC

Type Private limited with Share Capital

FTSE Index -

Date of Change 08/10/2013

Filing Date of Accounts 29/01/2015

Currency GBP

Share Capital £50,000

SIC07 46420

Charity Number -

SIC07 Description WHOLESALE OF CLOTHING AND FOOTWEAR

Principal Activity Import and distribution of ladies and children's garments.

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

30/06/2014 - - £1,093,869 -

31/12/2012 £4,791,672 £55,847 £1,021,008 15

31/12/2011 £7,589,711 £331,137 £1,088,914 17

Mortgage Summary

Total Mortgage 7

Outstanding 5

Satisfied 2

Trade Debtors/ Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

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

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

The latest Balance Sheet indicates a positive net working capital position.

There has been an increase in shareholders funds compared with the previous balance sheet.

This company trades in an industry with a moderate level of corporate failures.

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 -	-

Total Current Directors	2
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	4

Current Directors

Name	Amarjit Singh Dassan	Date of Birth	14/07/1947
Officers Title		Nationality	British
Present Appointments	8	Function	Director
Appointment Date	22/09/1992
Address	185 Park Avenue, London, NW10 7XH

Name	Ram Mohan Singh	Date of Birth	-
Officers Title	Mr	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	05/05/1992
Address	185 Park Avenue, London, NW10 7XH

Current Company Secretary

Name	Amarjit Singh Dassan	Date of Birth	14/07/1947
Officers Title		Nationality	British
Present Appointments	8	Function	Company Secretary
Appointment Date	07/09/1994
Address	185 Park Avenue, London, NW10 7XH

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
PARAMJIT DASSAN	GBP	12,500	ORDINARY	1	25
MR AMARJIT SINGH DASSAN	GBP	12,500	ORDINARY	1	25
VIVEK MOHAN SINGH	GBP	10,000	ORDINARY	1	20
USHA KIRAN SINGH	GBP	10,000	ORDINARY	1	20
MR RAM MOHAN SINGH	GBP	5,000	ORDINARY	1	10

Financials

Profit & Loss

	Date Of Accounts	30/06/14	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
	Weeks	78	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
	Turnover	-	-	£4,791,672	-36.9%	£7,589,711	13.6%	£6,679,677	31.5%	£5,080,955
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	-	-100%	£3,981,449	-37.9%	£6,410,770	14.2%	£5,612,115	29.4%	£4,336,550
	Gross Profit	-	-	£810,223	-31.3%	£1,178,941	10.4%	£1,067,562	43.4%	£744,405
	Wages & Salaries	-	-	£390,395	-19.3%	£483,963	71.9%	£281,610	12.9%	£249,445
	Directors Emoluments	-	-	£79,878	3.9%	£76,912	24.4%	£61,843	-2.4%	£63,343
	Operating Profit	-	-	£116,832	-71.7%	£412,712	-22.1%	£530,060	91%	£277,551
	Depreciation	£83,462	69.7%	£49,186	-12.1%	£55,973	57.4%	£35,551	12.2%	£31,697
	Audit Fees	-	-100%	£10,000	-	£10,000	-4.8%	£10,500	40%	£7,500
	Interest Payments	-	-	£60,985	-25.2%	£81,575	61.5%	£50,496	21.9%	£41,440
	Pre Tax Profit	-	-	£55,847	-83.1%	£331,137	-31%	£479,564	103.1%	£236,111
	Taxation	-	-	-£23,753	69.7%	-£78,355	33.3%	-£117,542	-107.3%	-£56,709
	Profit After Tax	-	-	£32,094	-87.3%	£252,782	-30.2%	£362,022	101.8%	£179,402
	Dividends Payable	-	-	£100,000	-50%	£200,000	-	£200,000	150%	£80,000
	Retained Profit	-	-	-£67,906	-228.7%	£52,782	-67.4%	£162,022	63%	£99,402

Balance Sheet

	Date Of Accounts	30/06/14	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
	Tangible Assets	£1,180,257	31.3%	£899,133	-4.6%	£942,320	0.4%	£938,740	4.4%	£899,291
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£1,180,257	31.3%	£899,133	-4.6%	£942,320	0.4%	£938,740	4.4%	£899,291
	Stock	£186,707	-40.8%	£315,343	-53.1%	£672,247	12.5%	£597,729	-12%	£678,982
	Trade Debtors	£1,151,511	199.3%	£384,746	-52.7%	£813,916	-8.4%	£888,629	-3.8%	£924,135
	Cash	£40,073	-61.6%	£104,374	372.8%	£22,074	16.9%	£18,887	-64%	£52,427
	Other Debtors	0	-100%	£227,609	21.1%	£187,929	42.2%	£132,141	22.7%	£107,660
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£1,378,291	33.5%	£1,032,072	-39.2%	£1,696,166	3.6%	£1,637,386	-7.1%	£1,763,204
	Trade Creditors	£1,226,121	267.3%	£333,813	2.2%	£326,558	-11.5%	£368,958	-33.9%	£557,992
	Bank Loans & Overdrafts	0	-100%	£95,628	49.6%	£63,914	6.9%	£59,781	2.4%	£58,380
	Other Short Term Finance	0	-100%	£17,579	-96.7%	£531,716	-	0	-	0
	Miscellaneous Current Liabilities	0	-100%	£73,793	-48.3%	£142,799	-74.7%	£563,533	1%	£557,936
	Total Current Liabilities	£1,226,121	135.4%	£520,813	-51.1%	£1,064,987	7.3%	£992,272	-15.5%	£1,174,308
	Bank Loans & Overdrafts and LTL	£238,558	-50.8%	£485,012	-11.6%	£548,499	-9.7%	£607,503	-9.7%	£672,457
	Other Long Term Finance	0	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£238,558	-38.7%	£389,384	-19.6%	£484,585	-11.5%	£547,722	-10.8%	£614,077

.

Capital & Reserves

	Date Of Accounts	30/06/14	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
	Called Up Share Capital	£50,000	-	£50,000	-	£50,000	-	£50,000	-	£50,000
	P & L Account Reserve	£725,832	-25.2%	£971,008	-6.5%	£1,038,914	5.4%	£986,132	19.7%	£824,110
	Revaluation Reserve	£318,037	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£1,093,869	7.1%	£1,021,008	-6.2%	£1,088,914	5.1%	£1,036,132	18.5%	£874,110

Other Financial Items

	Date Of Accounts	30/06/14	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
	Net Worth	£1,093,869	7.1%	£1,021,008	-6.2%	£1,088,914	5.1%	£1,036,132	18.5%	£874,110
	Working Capital	£152,170	-70.2%	£511,259	-19%	£631,179	-2.2%	£645,114	9.5%	£588,896
	Total Assets	£2,558,548	32.5%	£1,931,205	-26.8%	£2,638,486	2.4%	£2,576,126	-3.2%	£2,662,495
	Total Liabilities	£1,464,679	60.9%	£910,197	-41.3%	£1,549,572	0.6%	£1,539,994	-13.9%	£1,788,385
	Net Assets	£1,093,869	7.1%	£1,021,008	-6.2%	£1,088,914	5.1%	£1,036,132	18.5%	£874,110

Cash Flow

	Date Of Accounts	30/06/14	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
	Net Cashflow from Operations	-	-	£390,792	-26.2%	£529,264	28.9%	£410,548	66.7%	£246,281
	Net Cashflow before Financing	-	-100%	£149,396	125.9%	£66,134	130.3%	£28,716	-76.2%	£120,629
	Net Cashflow from Financing	-	-	-£67,096	-6.6%	-£62,947	-1.1%	-£62,256	-9.2%	-£57,019
	Increase in Cash	-	-	£82,300	999.9%	£3,187	109.5%	-£33,540	-152.7%	£63,610

Miscellaneous

	Date Of Accounts	30/06/14	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£1,332,427	-5.5%	£1,410,392	-10.4%	£1,573,499	-0.7%	£1,583,854	6.4%	£1,488,187
	Number of Employees	-	-	15	-11.8%	17	21.4%	14	27.3%	11
	Accountants
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers	THE ROYAL BANK OF SCOTLAND PLC
	Bank Branch Code

Ratios

	Date Of Accounts	30/06/14	31/12/12	31/12/11	31/12/10	31/12/09
	Pre-tax profit margin %	-	1.17	4.36	7.18	4.65
	Current ratio	1.12	1.98	1.59	1.65	1.50
	Sales/Net Working Capital	-	9.37	12.02	10.35	8.63
	Gearing %	21.80	47.50	50.40	58.60	76.90
	Equity in %	42.80	52.90	41.30	40.20	32.80
	Creditor Days	-	25.35	15.66	20.10	39.97
	Debtor Days	-	29.22	39.03	48.42	66.20
	Liquidity/Acid Test	0.97	1.37	0.96	1.04	0.92
	Return On Capital Employed %	-	3.95	21.04	30.27	15.86
	Return On Total Assets Employed %	-	2.89	12.55	18.61	8.86
	Current Debt Ratio	1.12	0.51	0.97	0.95	1.34
	Total Debt Ratio	1.33	0.89	1.42	1.48	2.04
	Stock Turnover Ratio %	-	6.58	8.85	8.94	13.36
	Return on Net Assets Employed %	-	5.46	30.40	46.28	27.01

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
22/05/2015	Annual Returns
13/02/2015	New Accounts Filed
13/02/2015	New Accounts Filed
24/06/2014	Annual Returns
30/04/2014	Change in Reg.Office
10/10/2013	Change of Name
27/07/2013	Annual Returns
25/07/2013	Change in Reg.Office
25/07/2013	Change of Company Postcode
09/07/2013	New Accounts Filed
09/07/2013	New Accounts Filed
10/07/2012	New Accounts Filed
10/07/2012	New Accounts Filed
10/07/2012	New Accounts Filed
10/07/2012	New Accounts Filed

Previous Company Names

Date	Previous Name
08/10/2013	AWARD APPAREL PLC

Writ Details

No writs found

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group Structure Full

No Group Structure

Mortgage Details

Mortgage Type:
Date Charge Created:	06/02/15
Date Charge Registered:	09/02/15
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC;
Amount Secured:
Details:	A FIXED AND FLOATING CHARGE OVER ALL ASSETSCONTAINS FIXED CHARGE.CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.
Mortgage Type:
Date Charge Created:	06/02/15
Date Charge Registered:	09/02/15
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC;
Amount Secured:
Details:	A GENERAL PLEDGECONTAINS FIXED CHARGE.CONTAINS NEGATIVE PLEDGE.

Mortgage Type:	FIXED AND FLOATING CHARGE
Date Charge Created:	24/05/07
Date Charge Registered:	26/05/07
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	RBS INVOICE FINANCE LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE
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 SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	05/11/02
Date Charge Registered:	08/11/02
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:	THE F/H PROPERTY K/A 185 PARK AVENUE, LONDON WITH THE BENEFIT OF ALL RIGHTS LICENCES GUARANTEES RENTDEPOSITS CONTRACTS DEEDS UNDERTAKINGS AND WARRANTIES RELATINGTO THE PROPERTY ANY SHARES OR MEMBERSHIP RIGHTS IN ANY MANAGEMENT COMPANY FOR THE PROPERTY ANY GOODWILL OF ANY BUSINESSFROM TIME TO TIME CARRIED ON AT THE PROPERTY ANY RENTAL AND OTHER MONEY PAYABLEUNDER ANY LEASE LICENCE OR OTHER INTEREST CREATED IN RESPECT OF THE PROPERTY AND ALL OTHER PAYMENTS WHATEVER IN RESPECTOF THE PROPERTY

Mortgage Type:	DEBENTURE
Date Charge Created:	05/01/01
Date Charge Registered:	17/01/01
Date Charge Satisfied:	03/09/04
Status:	SATISFIED
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 CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY
Mortgage Type:	MORTGAGE DEBENTURE
Date Charge Created:	09/02/96
Date Charge Registered:	14/02/96
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:	A SPECIFIC EQUITABLE CHARGE OVER ALL FREEHOLD AND LEASEHOLD PROPERTIES AND/OR THE PROCEEDS OF SALE THEREOF FIXED AND FLOATING CHARGES OVER UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS AND THE BENEFITS OF ANY LICENCES

Mortgage Type:	FIXED AND FLOATING CHARGE
Date Charge Created:	30/12/94
Date Charge Registered:	12/01/95
Date Charge Satisfied:	02/05/96
Status:	SATISFIED
Person(s) Entitled:	TSB FACTORS LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE WHETHER ARISING UNDER THE AGREEMENTOR OTHERWISE CONSTITUTED BY THE LETTER OF OFFER DATED 22 DECEMBER 1994
Details:	FIXED EQUITABLE CHARGE ALL BOOK DEBTS WHICH FAIL TO VEST ABSOLUTELY IN THE SECURITYHOLDER FOR ANY REASON.(I)THE BENEFITOF ALL GUARANTEES INDEMNITIES INSURANCES AND SECURITIES HELD BY THE COMPANY.(II)ALL CHEQUES BILLS OF EXCHANGE AND OTHERINSTRUMENTS.(III)ANY GOODS GIVING RISE TO SUCH BOOK DEBTS.FLOATING CHARGE SUCHOF THE MONEYS WHICH THE COMPANY MAY RECEIVE IN RESPECT OF ALL AMOUNTS OF INDEBTEDNESS SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Usha Kiran Singh	0	1
Ram Mohan Singh	3	2
Kevin Brewer	348	27360
Suzanne Brewer	286	24616
Average Invoice Value	Ł300.03
Invoices available	46
Paid	45
Outstanding	1

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	33	7	4	1	0
Outstanding	0	1	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.67.04
UK Pound	1	Rs.101.67
Euro	1	Rs.73.93
GBP	1	Rs.100.66

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	KAS
Report Prepared by :	NIT

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.