MIRA INFORM REPORT

Report No. :	344950
Report Date :	12.10.2015

IDENTIFICATION DETAILS

Name :	FRENCH CONNECTION UK LIMITED

Formerly Known As :	FRENCH CONNECTION RETAIL LIMITED

Registered Office :	20-22 Bedford Row London WC1R 4JS

Country :	United Kingdom

Financials (as on) :	31.01.2015

Date of Incorporation :	08.08.1975

Com. Reg. No.:	01222335

Legal Form :	Private limited with Share Capital

Line of Business :	Retail sale of clothing in specialised stores

No. of Employee :	1210

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	Slow

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

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 leadingTRADING 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 financialMARKETS. 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 businessINVESTMENT 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 housingMARKET.

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

FRENCH CONNECTION UK LIMITED

Company No

01222335

Registered Address

20-22 BEDFORD ROW LONDON WC1R 4JS

Company Summary

Registered Address	20-22 BEDFORD ROW LONDON WC1R 4JS	Trading Address	20-22 Bedford Row London WC1R 4JS
Website Address	http://www.frenchconnection.com
Telephone Number	--	Fax Number
TPS	--	FPS	No
Incorporation Date	08/08/1975
Previous Name	FRENCH CONNECTION RETAIL LIMITED	Type	Private limited with Share Capital
FTSE Index	--	Date of Change	07/02/2011
Filing Date of Accounts	07/07/2015	Currency	GBP
Share Capital	£100,000,100	SIC07	47710
Charity Number	--
SIC07 Description	RETAIL SALE OF CLOTHING IN SPECIALISED STORES
Principal Activity	Operates in the fashion-oriented market place offering a fashion-forward range of quality products at affordable prices.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
31/01/2015	£93,189,000	-£1,040,000	£38,670,000	1210
31/01/2014	£99,674,000	-£9,160,000	-£34,619,000	1235
31/01/2013	£106,787,000	-£12,293,000	-£25,784,000	1420

Mortgage Summary

Total Mortgage 23

Outstanding 1

Satisfied 22

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 poor or negative return on 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	2

Current Directors

Name	Stephen Anthony Solomon Marks	Date of Birth	23/05/1946
Officers Title	Mr	Nationality	British
Present Appointments	26	Function	Director
Appointment Date	07/07/1992
Address	39-41 Egerton Terrace, London, SW3 2BU

Name	Catherine Elizabeth Pynor	Date of Birth	07/10/1952
Officers Title	Ms	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	20/09/1993
Address	5 Henville Road, Bromley, Kent, BR1 3HX

Name	Neil Pryce Williams	Date of Birth	08/09/1964
Officers Title	Mr	Nationality	British
Present Appointments	21	Function	Director
Appointment Date	15/12/2000
Address	Beech Hurst Tyrrells Wood, Leatherhead, Surrey, KT22 8QJ

Name	Adam Castleton	Date of Birth	13/03/1964
Officers Title	Mr	Nationality	British
Present Appointments	12	Function	Director
Appointment Date	12/08/2013
Address	20-22 Bedford Row, London, WC1R 4JS

Current Company Secretary

Name	Dinesh Raichand Shah	Date of Birth	12/01/1951
Officers Title		Nationality	British
Present Appointments	19	Function	Company Secretary
Appointment Date	07/07/1992
Address	4 Chantry Close, Harrow, Middlesex, HA3 9QZ

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
FRENCH CONNECTION GROUP PLC	GBP	100,000,099	ORDINARY	1	100
MR STEPHEN ANTHONY SOLOMON MARKS	GBP	1	ORDINARY	1	0

Profit & Loss

Date Of Accounts	31/01/15	(%)	31/01/14	(%)	31/01/13	(%)	31/01/12	(%)	31/01/11
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£93,189,000	-6.5%	£99,674,000	-6.7%	£106,787,000	-14.2%	£124,451,000	-1.1%	£125,837,000
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	£41,406,000	-7.3%	£44,679,000	-8.1%	£48,622,000	-16.3%	£58,114,000	11.4%	£52,167,000
Gross Profit	£51,783,000	-5.8%	£54,995,000	-5.5%	£58,165,000	-12.3%	£66,337,000	-10%	£73,670,000
Wages & Salaries	£16,276,000	-3%	£16,775,000	-10.6%	£18,762,000	-5.9%	£19,944,000	-3.3%	£20,629,000
Directors Emoluments	-	-	-	-	-	-100%	£1,147,000	46.5%	£783,000
Operating Profit	-£449,000	94.4%	-£7,966,000	36%	-£12,444,000	-999.9%	-£755,000	88%	-£6,269,000
Depreciation	£985,000	-19.1%	£1,217,000	-30.7%	£1,755,000	9.3%	£1,605,000	-16.3%	£1,918,000
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-£1,040,000	88.6%	-£9,160,000	25.5%	-£12,293,000	-999.9%	-£818,000	85%	-£5,470,000
Taxation	-£671,000	-306.5%	£325,000	591.5%	£47,000	-91.4%	£547,000	-6.7%	£586,000
Profit After Tax	-£1,711,000	80.6%	-£8,835,000	27.9%	-£12,246,000	-999.9%	-£271,000	94.5%	-£4,884,000
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-£1,711,000	80.6%	-£8,835,000	27.9%	-£12,246,000	-999.9%	-£271,000	94.5%	-£4,884,000

Balance Sheet

Date Of Accounts	31/01/15	(%)	31/01/14	(%)	31/01/13	(%)	31/01/12	(%)	31/01/11
Tangible Assets	£1,799,000	-27.5%	£2,481,000	-31.2%	£3,604,000	-18.7%	£4,432,000	-20.2%	£5,551,000
Intangible Assets	0	-	0	-	0	-100%	£1,379,000	-8.3%	£1,504,000
Total Fixed Assets	£1,799,000	-27.5%	£2,481,000	-31.2%	£3,604,000	-38%	£5,811,000	-17.6%	£7,055,000
Stock	£22,211,000	-8.7%	£24,327,000	-0.1%	£24,340,000	-20.5%	£30,606,000	10.9%	£27,607,000
Trade Debtors	£6,700,000	-5.1%	£7,061,000	16.2%	£6,078,000	-11.4%	£6,862,000	22.1%	£5,618,000
Cash	£13,861,000	-35.9%	£21,618,000	1.3%	£21,339,000	-14.9%	£25,064,000	-9%	£27,545,000
Other Debtors	£25,937,000	19.9%	£21,624,000	-17.6%	£26,247,000	-10.1%	£29,212,000	-22.7%	£37,810,000
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£68,709,000	-7.9%	£74,630,000	-4.3%	£78,004,000	-15%	£91,744,000	-6.9%	£98,580,000
Trade Creditors	£10,120,000	-18%	£12,341,000	2.3%	£12,064,000	-10.9%	£13,540,000	19.9%	£11,290,000
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	£11,356,000	-87%	£87,241,000	5.6%	£82,635,000	-3.1%	£85,246,000	-11.3%	£96,121,000
Miscellaneous Current Liabilities	£9,388,000	-10.1%	£10,448,000	-5.1%	£11,007,000	-10.6%	£12,307,000	7.1%	£11,491,000
Total Current Liabilities	£30,864,000	-71.9%	£110,030,000	4.1%	£105,706,000	-4.8%	£111,093,000	-6.6%	£118,902,000
Bank Loans & Overdrafts and LTL	£974,000	-42.7%	£1,700,000	0.8%	£1,686,000	-	0	-	0
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£974,000	-42.7%	£1,700,000	0.8%	£1,686,000	-	0	-	0

Capital & Reserves

Date Of Accounts	31/01/15	(%)	31/01/14	(%)	31/01/13	(%)	31/01/12	(%)	31/01/11
Called Up Share Capital	£100,000,000	300%	£25,000,000	-	£25,000,000	-	£25,000,000	-	£25,000,000
P & L Account Reserve	-£61,330,000	-2.9%	-£59,619,000	-17.4%	-£50,784,000	-31.8%	-£38,538,000	-0.7%	-£38,267,000
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£38,670,000	211.7%	-£34,619,000	-34.3%	-£25,784,000	-90.5%	-£13,538,000	-2%	-£13,267,000

Other Financial Items

Date Of Accounts	31/01/15	(%)	31/01/14	(%)	31/01/13	(%)	31/01/12	(%)	31/01/11
Net Worth	£38,670,000	211.7%	-£34,619,000	-34.3%	-£25,784,000	-72.8%	-£14,917,000	-1%	-£14,771,000
Working Capital	£37,845,000	206.9%	-£35,400,000	-27.8%	-£27,702,000	-43.2%	-£19,349,000	4.8%	-£20,322,000
Total Assets	£70,508,000	-8.6%	£77,111,000	-5.5%	£81,608,000	-16.3%	£97,555,000	-7.6%	£105,635,000
Total Liabilities	£31,838,000	-71.5%	£111,730,000	4%	£107,392,000	-3.3%	£111,093,000	-6.6%	£118,902,000
Net Assets	£38,670,000	211.7%	-£34,619,000	-34.3%	-£25,784,000	-90.5%	-£13,538,000	-2%	-£13,267,000

Cash Flow

Date Of Accounts	31/01/15	(%)	31/01/14	(%)	31/01/13	(%)	31/01/12	(%)	31/01/11
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	31/01/15	(%)	31/01/14	(%)	31/01/13	(%)	31/01/12	(%)	31/01/11
Contingent Liability	YES	-	YES	-	YES	-	YES	-	YES
Capital Employed	£39,644,000	220.4%	-£32,919,000	-36.6%	-£24,098,000	-78%	-£13,538,000	-2%	-£13,267,000
Number of Employees	1210	-2%	1235	-13%	1420	-8.3%	1548	-2.9%	1595

Accountants
Auditors	KPMG LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	BARCLAYS BANK PLC
Bank Branch Code

Ratios

Date Of Accounts	31/01/15	31/01/14	31/01/13	31/01/12	31/01/11
Pre-tax profit margin %	-1.12	-9.19	-11.51	-0.66	-4.35
Current ratio	2.23	0.68	0.74	0.83	0.83
Sales/Net Working Capital	2.46	-2.82	-3.85	-6.43	-6.19
Gearing %	2.50	-4.90	-6.50	0	0
Equity in %	54.80	-44.90	-31.60	-14.10	-12.70
Creditor Days	39.52	45.06	41.12	39.60	32.65
Debtor Days	26.17	25.78	20.71	20.07	16.25
Liquidity/Acid Test	1.50	0.45	0.50	0.55	0.59
Return On Capital Employed %	-2.62	27.82	51.01	6.04	41.23
Return On Total Assets Employed %	-1.47	-11.87	-15.06	-0.83	-5.17
Current Debt Ratio	0.79	-3.17	-4.09	-8.20	-8.96
Total Debt Ratio	0.82	-3.22	-4.16	-8.20	-8.96
Stock Turnover Ratio %	23.83	24.40	22.79	24.59	21.93
Return on Net Assets Employed %	-2.68	26.45	47.67	6.04	41.23

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
01/08/2015	Annual Returns
15/07/2015	New Accounts Filed
06/08/2014	New Accounts Filed
06/08/2014	New Accounts Filed
11/07/2014	Annual Returns
11/10/2013	New Board Member Mr A. Castleton appointed
03/08/2013	New Accounts Filed
03/08/2013	New Accounts Filed
22/07/2013	Annual Returns
03/06/2013	Mr R.C. Naismith has left the board
20/09/2012	New Accounts Filed
14/07/2012	Annual Returns
18/10/2011	New Accounts Filed
20/07/2011	Annual Returns
09/02/2011	Change of Name

Previous Company Names

Date	Previous Name
07/02/2011	FRENCH CONNECTION RETAIL LIMITED
04/05/1993	LILAJOY LIMITED

Writ Details

No writs found

Statistics

Group	12 companies
Linkages	3 companies
Countries	In 2 countries

Summary

Holding Company	FRENCH CONNECTION GROUP PLC
Ownership Status	Wholly Owned
Ultimate Holding Company	FRENCH CONNECTION GROUP PLC

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
FRENCH CONNECTION GROUP PLC	01410568	31.01.2015	Y	£178,500,000
WESTERN JEAN COMPANY L...	01242025	31.01.2014	N
FRENCH CONNECTION OVER...	01364202	31.01.2014	N
N F RESTAURANTS LIMITED	03028187	31.01.2014	N
EFSEL LIMITED	03372070	31.01.2014	N
FRENCH CONNECTION (CHI...	05267768	31.01.2014	N
CONTRACTS LIMITED	01825819	31.01.2015	N	£185,000
FRENCH CONNECTION (LON...	00996609	31.01.2015	N	£11,840,000
FRENCH CONNECTION UK L...	01222335	31.01.2015	N	£93,189,000
FRENCH CONNECTION LIMITED	01069342	31.01.2015	N	£8,861,000
TOAST (MAIL ORDER) LIM...	03399254	31.01.2015	N	£15,703,000
YMC LIMITED	03118702	31.01.2015	N	£3,286,000

Mortgage Details

Mortgage Type:	RENT DEPOSIT DEED
Date Charge Created:	31/07/08
Date Charge Registered:	06/08/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	191 WESTBOURNE GROVE LIMITED
Amount Secured:	£16,250.00 DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE
Details:	£16,250.00
Mortgage Type:	TRADEMARK MORTGAGE
Date Charge Created:	01/12/89
Date Charge Registered:	11/12/89
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND/OR ALL OR ANY OF THE OTHERCOMPANIES NAMED THEREIN TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ALL TRADE MARKS LISTED UNDER THE COMPANY\S NAME TOGETHER WITH ALL GOODWILL OF THE BUSINESS AND ALL RELATED RIGHTS THERETO AND THEREFROM SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	GUARANTEE AND DEBENTURE
Date Charge Created:	01/12/89
Date Charge Registered:	30/01/98
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND/OR ALL OR ANY OF THE OTHERCOMPANIES NAMED THEREIN 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:	SUPPLEMENTAL LEGAL CHARGE
Date Charge Created:	17/12/96
Date Charge Registered:	30/12/96
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THETERMS OF A GUARANTEE AND DEBENTURE DATED 1ST DAY OF DECEMBER 1989 AND DEED OF ACCESSION AND SUPPLEMENTAL CHARGE DATED 1ST MAY 1996
Details:	PROPERTY K/A L/H PREMISES ON THE BASEMENT GROUND FIRST FLOORS OF PREMISES K/A NUMBERS 99/103 LONG ACRE ODHAMS WALK COVENT GARDEN LONDON BOROUGH OF CITY OF WESTMINSTER

Mortgage Type:	SUPPLEMENTAL LEGAL CHARGE
Date Charge Created:	22/11/96
Date Charge Registered:	28/11/96
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC AS AGENT AND TRUSTEE FOR THE LENDERS
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER BUT PURSUANT TO A GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989 ANDA DEED OF ACCESSION AND SUPPLEMENTAL CHARGE DATED 1ST MAY 1996
Details:	L/H PROPERTY COMPRISED AT LAND AND PREMISES SITUATE AT BASEMENT GROUND FIRST & SECOND FLOORS 57 BROMPTON ROAD LONDON BOROUGH OF KENSINGTON AND CHELSEA
Mortgage Type:	SUPPLEMENTAL LEGAL CHARGE
Date Charge Created:	13/06/96
Date Charge Registered:	24/06/96
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC, AS AGENT AND TRUSTEE FOR THE LENDERS
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER BUT PURSUANT TO A GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989 ANDDEED OF ACCESSION AND SUPPLEMENTAL CHARGEDATED 1ST MAY 1996
Details:	L/H PROPERTY COMPRISED AT 170 KENSINGTON HIGH STREET, L/B OF KENSINGTON & CHELSEA. SEE THE MORTGAGECHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	SUPPLEMENTAL LEGAL CHARGE
Date Charge Created:	13/06/96
Date Charge Registered:	24/06/96
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO BARCLAYS BANK PLC AS AGENT AND TRUSTEE FOR THE LENDERS ON ANY ACCOUNT WHATSOEVER BUT PURSUANT TO A GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989 AND DEED OF ACCESSION AND SUPPLEMENTAL CHARGE DATED 1ST MAY 1996 ("THE SECURITY")
Details:	ALL THAT L/H PROPERTY COMPRISED AT 11 FLORAL STREET COVENT GARDEN WESTMINSTER LONDON BOROUGH OF CITYOF WESTMINSTER
Mortgage Type:	SUPPLEMENTAL LEGAL CHARGE
Date Charge Created:	13/06/96
Date Charge Registered:	24/06/96
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO BARCLAYS BANK PLC AS AGENT AND TRUSTEE FOR THE LENDERS ON ANY ACCOUNT WHATSOEVER BUT PURSUANT TO A GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989 AND DEED OF ACCESSION AND SUPPLEMENTAL CHARGE DATED 1ST MAY 1996 ("THE SECURITY")
Details:	ALL THAT L/H PROPERTY COMPRISED IN THE LOCK UP SHOP SITUATED ON THE GROUND FLOOR AND BASEMENT OF 10MARKET STREET THE ROYAL EXCHANGE MANCHESTER GREATER MANCHESTER

Mortgage Type:	SUPPLEMENTAL LEGAL CHARGE
Date Charge Created:	13/06/96
Date Charge Registered:	24/06/96
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO BARCLAYS BANK PLC AS AGENT AND TRUSTEE FOR THE LENDERS ON ANY ACCOUNT WHATSOEVER BUT PURSUANT TO A GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989 AND DEED OF ACCESSION AND SUPPLEMENTAL CHARGE DATED 1ST MAY 1996 ("THE SECURITY")
Details:	ALL THAT L/H PROPERTY COMPRISED AT THE RETAIL SHOP UNIT ON BASEMENT GROUND AND FIRST FLOOR LEVELS K/A UNIT 3 BURTONS ARCADE LEEDS WEST YORKSHIRE
Mortgage Type:	SUPPLEMENTAL LEGAL CHARGE
Date Charge Created:	13/06/96
Date Charge Registered:	24/06/96
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO BARCLAYS BANK PLC AS AGENT AND TRUSTEE FOR THE LENDERS ON ANY ACCOUNT WHATSOEVER BUT PURSUANT TO A GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989 AND DEED OF ACCESSION AND SUPPLEMENTAL CHARGE DATED 1ST MAY 1996 ("THE SECURITY")
Details:	ALL THAT L/H PROPERTY COMPRISED IN THE PART BASEMENT GROUND FLOOR AND MEZZANINEOF 248/251 (ODD) REGENT STREET LONDON BOROUGH OF CITY OF WESTMINSTER

Mortgage Type:	SUPPLEMENTAL LEGAL CHARGE
Date Charge Created:	13/06/96
Date Charge Registered:	24/06/96
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO BARCLAYS BANK PLC AS AGENT AND TRUSTEE FOR THE LENDERS ON ANY ACCOUNT WHATSOEVER BUT PURSUANT TO A GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989 AND DEED OF ACCESSION AND SUPPLEMENTAL CHARGE DATED 1ST MAY 1996 ("THE SECURITY")
Details:	ALL THAT L/H PROPERTY K/A OR BEING 193 SLOANE STREET T/N NGL320932 IN THE LONDON BOROUGH OF KENSINGTON AND CHELSEA
Mortgage Type:	SUPPLEMENTAL LEGAL CHARGE
Date Charge Created:	13/06/96
Date Charge Registered:	24/06/96
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC, AS AGENT AND TRUSTEE FOR THE LENDERS (AS DEFINED)
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER BUT PURSUANT TO A GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989 ANDDEED OF ACCESSION AND SUPPLEMENTAL CHARGEDATED 1ST MAY 1996
Details:	L/H PROPERTY K/A OR BEING 10 ARGYLL STREET L/B OF WESTMINSTER T/NO:NGL732202

Mortgage Type:	SUPPLEMENTAL LEGAL CHARGE
Date Charge Created:	13/06/96
Date Charge Registered:	24/06/96
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC, AS AGENT AND TRUSTEE FOR THE LENDERS (AS DEFINED)
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER BUT PURSUANT TO A GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989 ANDDEED OF ACCESSION AND SUPPLEMENTAL CHARGEDATED THE 1ST MAY 1996 ("THE SECURITY")
Details:	L/H PROPERTY 99/103 LONG ACRE, ODHAMS WALK, COVENT GARDEN L/B OF CITY OF WESTMINSTER
Mortgage Type:	DEED OF ACCESSION AND SUPPLEMENTAL CHARGE
Date Charge Created:	01/05/96
Date Charge Registered:	16/05/96
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM FRENCH CONNECTION (HONG KONG) LIMITED TO THE CHARGEE AND TO THELENDERS AND EACH OF THEM 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 SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	LEGAL CHARGE
Date Charge Created:	29/02/96
Date Charge Registered:	07/03/96
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	PART BASEMENT PART GROUND FLOOR AND MEZZANINE OF 249/257 (ODD) REGENT STREET L.B. OF CITY OF WESTMINSTER
Mortgage Type:	LEGAL CHARGE
Date Charge Created:	17/09/95
Date Charge Registered:	03/10/95
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	193 SLOANE STREET LONDON SW1

Mortgage Type:	LEGAL CHARGE
Date Charge Created:	17/09/95
Date Charge Registered:	03/10/95
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	170 KENSINGTON HIGH STREET LONDON W8
Mortgage Type:	SUPPLEMENTAL LEGAL CHARGE
Date Charge Created:	12/07/94
Date Charge Registered:	15/07/94
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER A GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989
Details:	L/H PREMISES SITUATE ON THE GROUND FLOOR AND LOWER GROUND FLOORS OF 140-144 KINGS ROAD CHELSEA

Mortgage Type:	SUPPLEMENTAL LEGAL CHARGE
Date Charge Created:	24/06/94
Date Charge Registered:	29/06/94
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE SUPPLEMENTAL TO THE GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989
Details:	L/H PROPERTY COMPRISED IN THE GROUND AND LOWER GROUND FLOORS OF NOS. 158 AND 159 NEW BOND STREET, LONDON N1 AS DEMISED BY A LEASE DATED 21/3/94
Mortgage Type:	SUPPLEMENTAL LEGAL CHARGE
Date Charge Created:	27/05/94
Date Charge Registered:	17/06/94
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE SUPPLEMENTAL TO THE GUARANTEE AND DEBENTURE DATED 1ST DECEMBER 1989
Details:	L/H PROPERTY K/A 249 REGENT STREET, LONDON T/NO. 292519 AND L/H PROPERTY K/A PART 251 REGENT STREET,LONDON T/NO. LN63558

Mortgage Type:	DEED OF ASSIGNMENT OF GUARANTEE
Date Charge Created:	07/06/94
Date Charge Registered:	10/06/94
Date Charge Satisfied:	30/01/98
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THETERMS OF THIS ASSIGNMENT OF GUARANTEE
Details:	ALL SUMS OF MONEY AT ANY TIME PAYABLE OR REPAYABLE TO THE COMPANY UNDER THE GUARANTEE, TOGETHER WITHTHE FULL BENEFIT OF ALL LEGAL RIGHTS AND REMEDIES RELATINGTHEREO SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Mortgage Type:	GENERAL LETTER OF PLEDGE AND HYPOTHECATION
Date Charge Created:	30/06/87
Date Charge Registered:	20/07/87
Date Charge Satisfied:	03/02/88
Status:	SATISFIED
Person(s) Entitled:	BANK INTERNATIONAL A LUXENBOUG
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ALL GOODS, BILLS OF LODING WARANES, DELIVERY ORDERS, DOCUMANTS OF TITLE TO GOODS, & ALL PROPERTY OFOTHER RIGHTS EMBODIED THEREIN.

Mortgage Type:	FURTHER GUARANTEE & DEBENTURE
Date Charge Created:	04/03/80
Date Charge Registered:	12/03/80
Date Charge Satisfied:	12/03/80
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND/OR ALL OR ANY OF THE OTHERCOMPANIES INCURRED THEREIN TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER.
Details:	ALL THAT UNDERTAKING ETC CHARGED BY THEPRINCIPAL AND FURTHER DEEDS

Previous Director/Company Secretaries

Name		Current Directorships	Previous Directorships
Roy Cameron Naismith		23	97
Nicholas Charles Holt Mather		7	15
Average Invoice Value	Ł585.89
Invoices available	1014
Paid	542
Outstanding	472

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	9	274	140	76	43
Outstanding	0	93	122	132	125

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.64.78
UK Pound	1	Rs.99.54
Euro	1	Rs.73.08

INFORMATION DETAILS

Analysis Done by :	HNA

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
--	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.

Name	Number	Latest Key Financials	Turnover
PRETEX TEXTILHANDELSGESELLSCHAFT MBH	HRB 62586	31.01.2014
LOUISIANA CONNECTION LIMITED		-
FRENCH CONNECTION HOLDINGS, INC		-	$4,673,000