MIRA
INFORM REPORT
|
Report No. : |
305395 |
|
Report Date : |
30.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
JACK WILLS LIMITED |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
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 |
|
|
|
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 |
|
|
|
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 |
|
|
|
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 |
|
|
|
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 |
|
|
|
07121485 |
03.02.2013 |
Y |
£133,056,532 |
|
|
|
03504842 |
03.02.2013 |
N |
£122,123,130 |
WILLS
LIFESTYLE HOLDINGS... 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. 61.50 |
|
|
1 |
Rs. 93.12 |
|
Euro |
1 |
Rs. 69.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.