MIRA INFORM REPORT

 

 

Report No. :

357215

Report Date :

26.12.2015

 

IDENTIFICATION DETAILS

 

Name :

SABRE RETAIL FASHION LIMITED

 

 

Registered Office :

Prospect House 3rd Floor Crendon Street High Wycombe Hp13 6LA

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.04.2015

 

 

Date of Incorporation :

23.01.2012

 

 

Com. Reg. No.:

07920155

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Retail sale of clothing in specialised stores.

 

 

No. of Employee :

519

 

 

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 – 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 addres

 

SABRE RETAIL FASHION LIMITED

 

Company No

07920155

 

Registered Address

PROSPECT HOUSE 3RD FLOOR CRENDON STREET HIGH WYCOMBE HP13 6LA

 

 

Company Summary

 

Registered Address

PROSPECT HOUSE 3RD FLOOR CRENDON STREET
HIGH WYCOMBE HP13 6LA

Trading Address

 

3rd Floor Prospect House Crendon Street High Wycombe, Buckinghamshire HP13 6LA

Website Address

http://www.mintvelvet.co.uk

 

 

Telephone Number

01494956720

Fax Number

 

TPS

No

FPS

Yes

Incorporation Date

23/01/2012

 

 

Previous Name

--

Type

Private limited with Share Capital

FTSE Index

--

Date of Change

-

Filing Date of Accounts

08/10/2015

Currency

GBP

Share Capital

£3,600,820

SIC07

47710

Charity Number

--

 

 

SIC07 Description

RETAIL SALE OF CLOTHING IN SPECIALISED STORES

Principal Activity

A Group engaged in design and retail of women clothing through retail outlets and on-line.

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

30/04/2015

£63,107,000

£10,715,000

£13,832,000

519

30/04/2014

£48,103,000

£6,309,000

£7,691,000

454

30/04/2013

£34,368,000

£3,944,000

£2,860,000

351

 

 

Mortgage Summary

 

 

Total Mortgage              4

Outstanding                  3

Satisfied                       1

 

 

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 Large company in respect of the rating/limit generated.

This company's return on total assets employed ratio indicates a highly 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.

The company has more cash than short term bank borrowings.

 

 

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

4

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

6

 

 

Current Directors

 

Title

Ms

Function

Director

Name

Elizabeth Claire Houghton

Nationality

British

Date of Birth

12/1964

Present Appointments

5

Latest Address

Prospect House 3rd Floor Crendon Street, High Wycombe, Buckinghamshire

Appointment Date

21/03/2012

Post Code

HP13 6LA

Title

Mr

Function

Director

Name

Peter Wynne Davies

Nationality

British

Date of Birth

05/1949

Present Appointments

13

Latest Address

Prospect House 3rd Floor Crendon Street, High Wycombe, Buckinghamshire

Appointment Date

21/03/2012

Post Code

HP13 6LA

 

Title

Mr

Function

Director

Name

Stuart Grant

Nationality

British

Date of Birth

02/1975

Present Appointments

3

Latest Address

Prospect House 3rd Floor Crendon Street, High Wycombe, Buckinghamshire

Appointment Date

21/03/2012

Post Code

HP13 6LA

Title

Ms

Function

Director

Name

Lisa Agar-Rea

Nationality

British

Date of Birth

11/1968

Present Appointments

4

Latest Address

Prospect House 3rd Floor Crendon Street, High Wycombe, Buckinghamshire

Appointment Date

21/03/2012

Post Code

HP13 6LA

 

 

Current Company Secretary

 

Title

Function

Company Secretary

Name

CAVENDISH SQUARE SECRETARIAT

Nationality

British

Date of Birth

-

Present Appointments

117

Latest Address

Chelsea House, Westgate, Ealing, London West Gate, London

Appointment Date

30/11/2015

Post Code

W5 1DR

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

PETER DAVIES

GBP

1,800,000

PREFERENCE

1

CHRISTOPHER INMAN

GBP

900,000

PREFERENCE

1

RICHARD SIMS

GBP

900,000

PREFERENCE

1

PETER DAVIES

GBP

48,000

ORDINARY A

0.01

CHRISTOPHER INMAN

GBP

24,000

ORDINARY A

0.01

RICHARD SIMS

GBP

24,000

ORDINARY A

0.01

LIZ HOUGHTON

GBP

20,000

ORDINARY B

0.01

LISA AGAR-REA

GBP

20,000

ORDINARY B

0.01

STUART GRANT

GBP

16,000

ORDINARY B

0.01

JANE RAWLINGS

GBP

8,000

ORDINARY B1

0.01

 

 

Unable to report percentage holdings as filed Shareholder listing is not full.

 

 

Profit & Loss

 

Date Of Accounts

30/04/15

(%)

30/04/14

(%)

30/04/13

(%)

-

(%)

-

Weeks

52

(%)

52

(%)

66

(%)

-

(%)

-

Currency

GBP

(%)

GBP

(%)

GBP

(%)

-

(%)

-

Consolidated A/cs

Y

(%)

Y

(%)

Y

(%)

-

(%)

-

Turnover

£63,107,000

31.2%

£48,103,000

40%

£34,368,000

-

-

-

-

Export

£2,245,000

110.4%

£1,067,000

32.9%

£803,000

-

-

-

-

Cost of Sales

£43,819,000

25.8%

£34,833,000

36.7%

£25,487,000

-

-

-

-

Gross Profit

£19,288,000

45.4%

£13,270,000

49.4%

£8,881,000

-

-

-

-

Wages & Salaries

£6,994,000

20%

£5,826,000

53%

£3,809,000

-

-

-

-

Directors Emoluments

£865,000

-29.4%

£1,226,000

675.9%

£158,000

-

-

-

-

Operating Profit

£10,768,000

68.3%

£6,397,000

57.1%

£4,071,000

-

-

-

-

Depreciation

£842,000

46.9%

£573,000

3.4%

£554,000

-

-

-

-

Audit Fees

£28,000

16.7%

£24,000

20%

£20,000

-

-

-

-

Interest Payments

£84,000

-18.4%

£103,000

-20.2%

£129,000

-

-

-

-

Pre Tax Profit

£10,715,000

69.8%

£6,309,000

60%

£3,944,000

-

-

-

-

Taxation

-£2,270,000

-53.6%

-£1,478,000

-36.2%

-£1,085,000

-

-

-

-

Profit After Tax

£8,445,000

74.8%

£4,831,000

69%

£2,859,000

-

-

-

-

Dividends Payable

£2,304,000

-

-

-

-

-

-

-

-

Retained Profit

£6,141,000

27.1%

£4,831,000

69%

£2,859,000

-

-

-

-

 

 

Balance Sheet

 

Date Of Accounts

30/04/15

(%)

30/04/14

(%)

30/04/13

(%)

-

(%)

-

Tangible Assets

£3,150,000

28.1%

£2,459,000

41.7%

£1,735,000

-

-

-

-

Intangible Assets

£2,551,000

-33.3%

£3,826,000

-24.3%

£5,052,000

-

-

-

-

Total Fixed Assets

£5,701,000

-9.3%

£6,285,000

-7.4%

£6,787,000

-

-

-

-

Stock

£6,880,000

52.6%

£4,508,000

26.1%

£3,576,000

-

-

-

-

Trade Debtors

£4,466,000

20.7%

£3,700,000

6.2%

£3,485,000

-

-

-

-

Cash

£8,621,000

78%

£4,843,000

153.6%

£1,910,000

-

-

-

-

Other Debtors

£1,049,000

7.6%

£975,000

10.9%

£879,000

-

-

-

-

Miscellaneous Current Assets

0

-

0

-

0

-

-

-

-

Total Current Assets

£21,016,000

49.8%

£14,026,000

42.4%

£9,850,000

-

-

-

-

Trade Creditors

£1,644,000

37.5%

£1,196,000

-21.1%

£1,515,000

-

-

-

-

Bank Loans & Overdrafts

0

-100%

£1,439,000

33.1%

£1,081,000

-

-

-

-

Other Short Term Finance

0

-100%

£201,000

-75.2%

£810,000

-

-

-

-

Miscellaneous Current Liabilities

£5,751,000

34.9%

£4,263,000

13.2%

£3,767,000

-

-

-

-

Total Current Liabilities

£7,395,000

4.2%

£7,099,000

-1%

£7,173,000

-

-

-

-

Bank Loans & Overdrafts and LTL

£5,490,000

-21.1%

£6,960,000

-9.4%

£7,685,000

-

-

-

-

Other Long Term Finance

£5,354,000

0.9%

£5,304,000

-16.4%

£6,341,000

-

-

-

-

Total Long Term Liabilities

£5,490,000

-0.6%

£5,521,000

-16.4%

£6,604,000

-

-

-

-

 

 

Capital & Reserves

 

Date Of Accounts

30/04/15

(%)

30/04/14

(%)

30/04/13

(%)

-

(%)

-

Called Up Share Capital

£1,000

-

£1,000

-

£1,000

-

-

-

-

P & L Account Reserve

£13,831,000

79.9%

£7,690,000

169%

£2,859,000

-

-

-

-

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£13,832,000

79.8%

£7,691,000

168.9%

£2,860,000

-

-

-

-

 

 

Other Financial Items

 

Date Of Accounts

30/04/15

(%)

30/04/14

(%)

30/04/13

(%)

-

(%)

-

Net Worth

£11,281,000

191.9%

£3,865,000

276.3%

-£2,192,000

-

-

-

-

Working Capital

£13,621,000

96.6%

£6,927,000

158.8%

£2,677,000

-

-

-

-

Total Assets

£26,717,000

31.5%

£20,311,000

22.1%

£16,637,000

-

-

-

-

Total Liabilities

£12,885,000

2.1%

£12,620,000

-8.4%

£13,777,000

-

-

-

-

Net Assets

£13,832,000

79.8%

£7,691,000

168.9%

£2,860,000

-

-

-

-

 

 

Cash Flow

 

Date Of Accounts

30/04/15

(%)

30/04/14

(%)

30/04/13

(%)

-

(%)

-

Net Cashflow from Operations

£10,733,000

42.5%

£7,534,000

79.7%

£4,193,000

-

-

-

-

Net Cashflow before Financing

£7,526,000

76%

£4,275,000

13.3%

£3,772,000

-

-

-

-

Net Cashflow from Financing

-£3,748,000

-179.3%

-£1,342,000

27.9%

-£1,862,000

-

-

-

-

Increase in Cash

£3,778,000

28.8%

£2,933,000

53.6%

£1,910,000

-

-

-

-

 

 

Miscellaneous

 

Date Of Accounts

30/04/15

(%)

30/04/14

(%)

30/04/13

(%)

-

(%)

-

Contingent Liability

NO

-

NO

-

NO

-

-

-

-

Capital Employed

£19,322,000

46.2%

£13,212,000

39.6%

£9,464,000

-

-

-

-

Number of Employees

519

14.3%

454

29.3%

351

-

-

-

-

Accountants

Auditors

DELOITTE LLP

Auditor Comments

The audit report contains no adverse comments

Bankers

LLOYDS TSB BANK PLC

Bank Branch Code

71-91-49

 

 

Ratios

 

Date Of Accounts

30/04/15

30/04/14

30/04/13

-

-

Pre-tax profit margin %

16.98

13.12

11.48

-

-

Current ratio

2.84

1.98

1.37

-

-

Sales/Net Working Capital

4.63

6.94

12.84

-

-

Gearing %

39.70

90.50

268.70

-

-

Equity in %

57.20

46.70

24.70

-

-

Creditor Days

9.48

9.05

20.36

-

-

Debtor Days

25.75

27.99

46.84

-

-

Liquidity/Acid Test

1.91

1.34

0.87

-

-

Return On Capital Employed %

55.45

47.75

41.67

-

-

Return On Total Assets Employed %

40.10

31.06

23.70

-

-

Current Debt Ratio

0.53

0.92

2.50

-

-

Total Debt Ratio

0.93

1.64

4.81

-

-

Stock Turnover Ratio %

10.90

9.37

10.40

-

-

Return on Net Assets Employed %

77.46

82.03

137.90

-

-

 

 

Report Notes

 

There are no notes to display.

 

 

Status History

 

No Status History found

 

 

*Event History

 

Date

Description

18/12/2015

New Company Secretary CAVENDISH SQUARE SECRETARIAT appointed

04/12/2015

Mr C. Inman has resigned as company secretary

04/12/2015

Ms J. Rawlings has left the board

04/12/2015

Mr R.M. Sims has left the board

04/12/2015

Mr C. Inman has left the board

04/12/2015

New Company Secretary CAVENDISH SQUARE SECRETARIAT appointed

23/10/2015

New Accounts Filed

30/01/2015

Annual Returns

20/10/2014

New Accounts Filed

20/10/2014

New Accounts Filed

31/01/2014

Annual Returns

16/10/2013

New Accounts Filed

31/01/2013

Annual Returns

17/05/2012

New Board Member Ms L. Agar-Rea appointed

30/04/2012

New Board Member Mr P.W. Davies appointed

 

 

Previous Company Names

 

No Previous Names found

 

 

Writ Details

 

No writs found

 

 

Statistics

 

Group

19 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

SABRE RETAIL FASHION LIMITED

Ownership Status

Ultimately Owned

Ultimate Holding Company

SABRE RETAIL FASHION LIMITED

 

 

Group Structure Full

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

tminusSABRE RETAIL FASHION LIM...

07920155

30.04.2015

Y

£63,107,000

TMINT VELVET GROUP LIMITED

09592932

-

N

TMINT VELVET INTERNATIO...

09592978

-

N

TMINT VELVET HOLDINGS L...

09592995

-

N

TMINT VELVET CLOTHING L...

09593110

-

N

TMINT VELVET TRADING LI...

09593112

-

N

TMINT VELVET EUROPE LIM...

09593126

-

N

TMINT VELVET FASHION LI...

09593141

-

N

TMINT VELVET SERVICES L...

09593144

-

N

TMINT VELVET RETAIL LIM...

09593145

-

N

TMV RETAIL LIMITED

09593611

-

N

THYGGE RETAIL LIMITED

09593620

-

N

THYGGE EUROPE LIMITED

09593626

-

N

TMV EUROPE LIMITED

09593709

-

N

TMV FASHION LIMITED

09593711

-

N

THYGGE CLOTHING LIMITED

09593714

-

N

THYGGE FASHION LIMITED

09593757

-

N

TMINT VELVET PROPERTY L...

09713437

-

N

LSABRE RETAIL (TRADING)...

06941177

30.04.2015

N

£2,244,756

 

 

Mortgage Details

 

Mortgage Type:

Date Charge Created:

09/01/14

Date Charge Registered:

16/01/14

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

LLOYDS BANK PLC;

Amount Secured:

Details:

CONTAINS FIXED CHARGE.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.

Mortgage Type:

DEBENTURE DEED

Date Charge Created:

17/09/12

Date Charge Registered:

25/09/12

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

LLOYDS TSB 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 CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY

 

Mortgage Type:

DEBENTURE

Date Charge Created:

09/05/12

Date Charge Registered:

14/05/12

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

LLOYDS TSB COMMERCIAL FINANCE LIMITED

Amount Secured:

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

Details:

FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY SEE IMAGEFOR FULL DETAILS

Mortgage Type:

DEBENTURE

Date Charge Created:

30/04/12

Date Charge Registered:

02/05/12

Date Charge Satisfied:

09/12/15

Status:

SATISFIED

Person(s) Entitled:

MR CHRISTOPHER INMAN (THE SECURITY TRUSTEE);

Amount Secured:

Details:

FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY SEE IMAGEFOR FULL DETAILS

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

PINSENT MASONS SECRETARIAL LIMITED

1148

2956

Daniel James Hildred

7

20

Jane Rawlings

1

2

Christopher Inman

10

24

Richard Mervyn Sims

9

6

Christopher Inman

0

1

Average Invoice Value

£727.63

Invoices available

201

Paid

186

Outstanding

15

 

 

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

99

63

18

4

2

Outstanding

2

4

9

0

0

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.20

UK Pound

1

Rs.98.30

Euro

1

Rs.72.41

GBP

1

Rs.98.08

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

Report Prepared by :

ANK

 

 

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

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NB

                                       New Business

 

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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.