|
Report No. : |
323456 |
|
Report Date : |
21.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
NEXT PLC |
|
|
|
|
Formerly Known As : |
NEXT GROUP PLC BRONZEJASPER PUBLIC LIMITED COMPANY |
|
|
|
|
Registered Office : |
Desford Road, Enderby, Leicester, LE19 4AT |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
25.01.2014 |
|
|
|
|
Date of Incorporation : |
09.04.2002 |
|
|
|
|
Com. Reg. No.: |
04412362 |
|
|
|
|
Legal Form : |
Public limited with Share Capital |
|
|
|
|
Line of Business : |
· EA group engaged in the retailer offering exciting, beautyfully designed, excellent quality, footwear, accessories and home products. · Holding Companies including Head Offices ·
Activities of head offices |
|
|
|
|
No. of Employees : |
52,533 |
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 : |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 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 |
NEXT
PLC |
|
Address
|
DESFORD ROAD,
ENDERBY LEICESTER LE19 4AT United Kingdom |
|
Telephone |
+44 084 4844 8888 |
|
Fax |
- |
|
Website |
|
|
|
|
|
Company Number |
04412362 |
|
Foundation |
09/04/2002 |
|
Status |
Active |
Legal form
Public limited with Share Capital
Foundation
09/04/2002
Company No.
04412362
Previous Names
Date of Change Previous
Name
22/11/2002 NEXT
GROUP PLC
11/09/2002 BRONZEJASPER
PUBLIC LIMITED COMPANY
Management
|
Directors |
|
|
|
|
|
Name |
Address: |
Date
of birth |
Nationality |
Appointment date |
|
Mr Robert John Orr
Barton |
Desford
Road, Enderby, Leicester LE19 4AT |
23/08/1944 |
British |
09/09/2002 |
|
Mr Jonathan Donald Sherlock Dawson |
Desford Road,
Enderby, Leicester LE19 4AT |
29/02/1952 |
British |
13/05/2004 |
|
Mr Simon Adam Lord
Wolfson Of Aspley Guise |
Next Plc Desford Road,
Enderby, Leicester LE19 4AT |
27/10/1967 |
British |
09/09/2002 |
|
Mr
Stephen David Barber |
Desford Road,
Enderby, Leicester LE19 4AT |
15/03/1952 |
British |
01/06/2007 |
|
Mr Francis William
Salway |
Desford
Road, Enderby, Leicester LE19 4AT |
05/10/1957 |
British |
01/06/2010 |
|
Mr
David Wilson Keens |
Desford Road,
Enderby, Leicester LE19 4AT |
16/08/1953 |
British |
09/09/2002 |
|
Ms Caroline Mary
Helen Goodall |
Desford
Road, Enderby, Leicester LE19 4AT |
22/05/1955 |
British |
01/01/2013 |
|
Mr
Michael William Law |
Desford Road,
Enderby, Leicester LE19 4AT |
17/06/1961 |
British |
01/07/2013 |
|
Ms Jane Margaret
Shields |
Desford
Road, Enderby, Leicester LE19 4AT |
24/10/1963 |
British |
01/07/2013 |
|
Company
Secretary |
|
|
|
Name |
Address: |
Appointment date |
|
Seonna
Anderson |
Next
Plc Desford Road, Enderby, Leicester LE19 4AT |
03/02/2014 |
Other Known address
10-12 Queen Street, St Helier, Jersey, Channel Islands JE2 4WD
104 Corporation Street, Birmingham, West Midlands B2 4UQ
109-110 Fishergate, Preston, Lancashire PR1 2AH
113-115 Lewisham High Street, London, London SE13 6AT
15-16 The Elmsleigh Centre, Staines, Middlesex TW18 4QB
152-153 Commercial Street, Newport, Gwent NP20 1JQ
16 Market Place, Cirencester, Gloucestershire GL7 2NW
1c Ravenside Retail Park, Ravenside Close, London N18 3HA
2 St Johns Precinct, Workington, Cumbria CA14 3BD
227 High Street, Epping, Essex CM16 4BP
24 Queens Square, Crawley, West Sussex RH10 1HA
3 Friargate, Preston, Lancashire PR1 2AU
33 Murray Road, Workington, Cumbria CA14 2AB
40-46 Donegal Place, Belfast BT1 5BB
5 Times Square, High Street, Sutton, Surrey SM1 1LF
50-51 Long Row, Nottingham, Nottinghamshire NG1 6JB
62-63 Spindles Shopping Centre Uppe, Mall, Oldham, Lancashire OL1 1HD
88-92 Moorgate, London EC2M 6SE
Carr Wood Road, Castleford, West Yorkshire WF10 4SB
Central 12 Retail Park, Derby Road, Southport, Merseyside PR9 0TQ
Desford Road, Enderby, Leicester, Leicestershire LE19 4AT
East Street, Chichester, West Sussex PO19 1HA
Fosse Park Shopping Centre, Fosse Park Avenue, Leicester, Leicestershire
LE19 1HY
Gallagher Retail Park, Cheltenham, Gloucestershire GL51 9RR
Gyle Avenue South Gyle Broadway, Edinburgh, Midlothian EH12 9JY
Princess Alice Drive, Sutton Coldfield, West Midlands B73 6RB
Room 11, Pier 2, South Terminal, London Gatwick Airport, Gatwick, West
Sussex RH6 0NN
The Maybird Centre, Birmingham Road, Stratford-upon-avon, Warwickshire
CV37 0HZ
The Peacocks Centre, Woking, Surrey GU21 6GH
Unit 1, Pydar Street, Truro, Cornwall TR1 2BD
Unit 1, The Avenue at Mearns, Newton Mearns, Glasgow, Lanarkshire G77
6EY
Unit 34 Street Stephens Centre Fere, Hull, North Humberside HU1 3UJ
Watling Street, Bletchley, Milton Keynes, Buckinghamshire MK1 1BN
|
Company
No. |
Name |
Status |
Country |
|
Affiliated
companies |
|||
|
03045421 |
NEXT
DISTRIBUTION LIMITED |
Active |
United
Kingdom |
|
05188107 |
NEXT
SOURCING (UK) LIMITED |
Non
Trading |
United
Kingdom |
|
06056341 |
VENTURA
NETWORK DISTRIBUTION LIMITED |
Non
Trading |
United
Kingdom |
|
07218431 |
AGRATECH
LIMITED |
Non
Trading |
United
Kingdom |
|
09189080 |
PROJECT
DONCASTER LIMITED |
Active |
United
Kingdom |
|
00866802 |
BRECON
DEBT RECOVERY LIMITED |
Non
Trading |
United
Kingdom |
|
05728110 |
LIPSY
LIMITED |
Active |
United
Kingdom |
|
02570797 |
NEXT
BRAND LIMITED |
Active |
United
Kingdom |
|
02570808 |
THE
NEXT DIRECTORY LIMITED |
Active |
United
Kingdom |
|
02958128 |
NEXT
FINANCIAL SERVICES LIMITED |
Non
Trading |
United
Kingdom |
|
00123434 |
NEXT
NEAR EAST LIMITED |
Non
Trading |
United
Kingdom |
|
00497131 |
NEXT
PENSION TRUSTEES LIMITED |
Non
Trading |
United
Kingdom |
|
02570546 |
NEXT
PROPERTIES LTD |
Non
Trading |
United
Kingdom |
|
04521150 |
NEXT
RETAIL LIMITED |
Active |
United
Kingdom |
|
00452053 |
PAIGE
GROUP LIMITED(THE) |
Non
Trading |
United
Kingdom |
|
02570801 |
V.C.S.M.
LIMITED |
Active |
United
Kingdom |
|
01210373 |
VENTURA
GROUP LIMITED |
Non
Trading |
United
Kingdom |
|
Subsidiary
companies |
|||
|
00035161 |
NEXT
GROUP PLC |
Active |
United
Kingdom |
|
Main
activity |
|
|
Principal
Activity |
EA
group engaged in the retailer offering exciting, beautyfully designed,
excellent quality, footwear, accessories and home products. |
|
SIC03 |
Holding
Companies including Head Offices |
|
SIC07 |
Activities
of head offices |
Turnover and Employees
|
Date
of Accounts |
Turnover |
Employees |
|
31/01/2012 |
GBP
3,441,100,000 |
88,467 |
|
26/01/2013 |
GBP
3,562,800,000 |
82,808 |
|
25/01/2014 |
GBP
3,740,000,000 |
52,533 |
BANKS
Bank Name Bank
Branch Sort Code
NATIONAL WESTMINSTER BANK PLC ---
AUDITOR
Auditor name
ERNST & YOUNG LLP
EVENTS
|
County
Court Judgments (CCJs) |
|||||
|
Date |
Amount |
Court |
Case
number |
Status |
Date
paid |
|
02/11/2009 |
GBP
2269 |
DERBY |
9DE05164 |
Satisfied |
21/01/2010 |
|
26/09/2012 |
GBP
2190 |
NORTHAMPTON CCMCC |
2YL15315 |
Judgement |
- |
COMPANY HISTORY
|
Date |
Action |
|
26/05/2010 |
New
Board Member Mr N.G. Brookes appointed |
|
27/05/2010 |
Mr
N.G. Brookes has left the board |
|
27/05/2010 |
New
Board Member Mr D.W. Keens appointed |
|
22/06/2010 |
New
Board Member Mr F.W. Salway appointed |
|
05/07/2010 |
New
Accounts Filed |
|
15/07/2010 |
Annual
Returns |
|
15/07/2010 |
New
Accounts Filed |
|
01/03/2011 |
Annual
Returns |
|
20/05/2011 |
New
Accounts Filed |
|
20/05/2011 |
New
Accounts Filed |
|
04/07/2011 |
Annual
Returns |
|
20/04/2012 |
New
Accounts Filed |
|
21/05/2012 |
New
Accounts Filed |
|
13/07/2012 |
Annual
Returns |
|
11/01/2013 |
New
Board Member Ms C.M. Goodall appointed |
|
29/04/2013 |
New
Accounts Filed |
|
27/05/2013 |
New
Accounts Filed |
|
27/05/2013 |
New
Accounts Filed |
|
05/06/2013 |
Mr
A.J. Varley has left the board |
|
28/06/2013 |
Annual
Returns |
|
04/07/2013 |
New
Board Member Ms J.M. Shields appointed |
|
04/07/2013 |
New
Board Member Mr M.W. Law appointed |
|
05/02/2014 |
Mr
A.J. McKinlay has resigned as company secretary |
|
06/02/2014 |
New
Company Secretary S. Anderson appointed |
|
23/05/2014 |
Ms
C. Cross has left the board |
|
07/06/2014 |
New
Accounts Filed |
|
12/06/2014 |
Mr
C.E. Angelides has left the board |
|
19/07/2014 |
Annual
Returns |
PROFIT AND LOSS
|
|
25/01/2014 56 GBP Group:
Yes |
26/01/2013 56 GBP Group:
Yes |
31/01/2012 52 GBP Group:
Yes |
29/01/2011 56 GBP Group:
Yes |
|
Turnover |
3,740,000,000 |
3,562,800,000 |
3,441,100,000 |
3,453,700,000 |
|
Export |
- |
243,500,000 |
195,400,000 |
- |
|
Cost
of Sales |
2,499,900,000 |
2,437,000,000 |
2,395,800,000 |
2,445,000,000 |
|
Gross
Profit |
1,240,100,000 |
1,125,800,000 |
1,045,300,000 |
1,008,700,000 |
|
Wages
And Salaries |
531,900,000 |
510,100,000 |
536,900,000 |
591,800,000 |
|
Directors
Emoluments |
21,320,000 |
5,240,000 |
4,470,000 |
4,910,000 |
|
Operating
Profit |
722,800,000 |
695,100,000 |
601,800,000 |
574,800,000 |
|
Depreciation |
117,000,000 |
116,400,000 |
118,800,000 |
120,700,000 |
|
Audit
Fees |
472,000,000 |
450,000 |
450,000 |
180,000 |
|
Interests
Payments |
28,300,000 |
29,000,000 |
36,200,000 |
24,300,000 |
|
Pre
Tax Profit |
695,200,000 |
666,500,000 |
579,500,000 |
551,400,000 |
|
Taxation |
-142,000,000 |
-157,900,000 |
-145,300,000 |
-150,500,000 |
|
Profit
After Tax |
553,200,000 |
508,600,000 |
434,200,000 |
400,900,000 |
|
Dividends
Payable |
164,800,000 |
147,700,000 |
135,100,000 |
129,600,000 |
|
Retained
Profit |
388,400,000 |
360,900,000 |
299,100,000 |
271,300,000 |
BALANCE SHEET
|
|
25/01/2014 56 GBP Group: Yes |
26/01/2013 56 GBP Group:
Yes |
31/01/2012 52 GBP Group: Yes |
29/01/2011 56 GBP Group: Yes |
|
Tangible
Assets |
632,100,000 |
641,000,000 |
668,700,000 |
678,500,000 |
|
Intangible
Assets |
44,400,000 |
44,800,000 |
45,600,000 |
46,500,000 |
|
Total
Fixed Assets |
676,500,000 |
685,800,000 |
714,300,000 |
725,000,000 |
|
Stock |
385,600,000 |
331,800,000 |
371,900,000 |
368,300,000 |
|
Trade
Debtors |
703,600,000 |
622,200,000 |
597,000,000 |
533,300,000 |
|
Cash |
273,300,000 |
136,300,000 |
56,400,000 |
49,300,000 |
|
Other
Debtors |
104,400,000 |
95,900,000 |
102,100,000 |
112,300,000 |
|
Miscellaneous
Current Assets |
1,200,000 |
21,600,000 |
12,500,000 |
4,100,000 |
|
Total
Current Assets |
1,468,100,000 |
1,207,800,000 |
1,139,900,000 |
1,067,300,000 |
|
Trade
Creditors |
194,800,000 |
189,200,000 |
193,100,000 |
195,500,000 |
|
Bank
Loans and Overdraft |
2,600,000 |
5,400,000 |
7,600,000 |
10,200,000 |
|
Other
Short Term Finance |
184,000,000 |
202,400,000 |
109,200,000 |
169,900,000 |
|
Miscellaneous
Current Liabilities |
453,100,000 |
419,000,000 |
432,500,000 |
457,300,000 |
|
Total
Current Liabilities |
834,500,000 |
816,000,000 |
742,400,000 |
832,900,000 |
|
Bank
Loans and Overdrafts LTL |
1,026,500,000 |
797,400,000 |
896,700,000 |
737,200,000 |
|
Other
Long Term Finance |
195,800,000 |
191,000,000 |
193,700,000 |
473,800,000 |
|
Total
Long Term Liabilities |
1,023,900,000 |
792,000,000 |
889,100,000 |
727,000,000 |
CAPITAL AND RESERVES
|
|
25/01/2014 56 GBP Group:
Yes |
26/01/2013 56 GBP Group:
Yes |
31/01/2012 52 GBP Group:
Yes |
29/01/2011 56 GBP Group: Yes |
|
Called
Up Share Capital |
0 |
0 |
0 |
18,100,000 |
|
P
and L Account Reserve |
0 |
0 |
0 |
1,782,600,000 |
|
Revaluation
Reserve |
0 |
0 |
0 |
0 |
|
Sundry
Reserves |
286,200,000 |
285,600,000 |
222,700,000 |
-1,568,300,000 |
|
Shareholders
Funds |
286,200,000 |
285,600,000 |
222,700,000 |
232,400,000 |
OTHER FINANCIAL ITEMS
|
|
25/01/2014 56 GBP Group: Yes |
26/01/2013 56 GBP Group:
Yes |
31/01/2012 52 GBP Group: Yes |
29/01/2011 56 GBP Group: Yes |
|
Net
Worth |
241,800,000 |
240,800,000 |
177,100,000 |
185,900,000 |
|
Working
Capital |
633,600,000 |
391,800,000 |
397,500,000 |
234,400,000 |
|
Total
Assets |
2,144,600,000 |
1,893,600,000 |
1,854,200,000 |
1,792,300,000 |
|
Total
Liabilities |
1,858,400,000 |
1,608,000,000 |
1,631,500,000 |
1,559,900,000 |
|
Net
Assets |
286,200,000 |
285,600,000 |
222,700,000 |
232,400,000 |
CASH FLOW
|
|
25/01/2014 56 GBP Group:
Yes |
26/01/2013 56 GBP Group:
Yes |
31/01/2012 52 GBP Group:
Yes |
29/01/2011 56 GBP Group:
Yes |
|
Net
Cash Flow from Operations |
614,800,000 |
659,000,000 |
525,900,000 |
452,000,000 |
|
Net
Cash Flow before Financing |
512,200,000 |
573,300,000 |
455,700,000 |
313,900,000 |
|
Net
Cash Flow from Financing |
-371,800,000 |
-491,100,000 |
-446,100,000 |
-377,200,000 |
|
Increase
in Cash |
137,000,000 |
79,900,000 |
7,100,000 |
-57,700,000 |
MISCELLANEOUS
|
|
25/01/2014 56 GBP Group:
Yes |
26/01/2013 56 GBP Group: Yes |
31/01/2012 52 GBP Group: Yes |
29/01/2011 56 GBP Group:
Yes |
|
Capital
Employed |
1,310,100,000 |
1,077,600,000 |
1,111,800,000 |
959,400,000 |
FINANCIAL RATIOS
|
Name |
25/01/2014 |
26/01/2013 |
31/01/2012 |
29/01/2011 |
|
Pre
Tax Profit Margin |
18.59 % |
18.71 % |
16.84% |
15.97% |
|
Current
Ration |
1.76 |
1.48 |
1.54 |
1.28 |
|
Sales
or Net Working Capital |
5.90 |
9.09 |
8.66 |
14.73 |
|
Gearing |
358.67 % |
279.20 % |
402.65 % |
317.21 % |
|
Equity |
13.63 % |
15.45 % |
12.31 % |
13.31 % |
|
Creditor
Days |
18.95 |
19.32 |
20.42 |
20.60 |
|
Debtor
Days |
68.47 |
63.56 |
63.15 |
56.20 |
|
Liquidity
or Acid test |
1.29 |
1.07 |
1.03 |
0.83 |
|
Return
on Capital Employed |
53.06 % |
61.85% |
52.12% |
57.47 % |
|
Return
on Total Assets Employed |
32.41 % |
35.19% |
31.25 % |
30.76 % |
|
Current
Debt Ratio |
2.91 % |
2.85 % |
3.33 % |
3.58 % |
|
Total
Debt Ratio |
6.49 % |
5.63 % |
7.32 % |
6.71 % |
|
Stock
Turnover Ratio |
10.31 % |
9.31 % |
10.80% |
10.66% |
|
Return
on Net Assets Employed |
242.90 % |
233.36 % |
260.21 % |
237.26 % |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.87 |
|
|
1 |
Rs.98.89 |
|
Euro |
1 |
Rs.70.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
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.