MIRA INFORM REPORT

Report No. :	508797
Report Date :	12.05.2018

IDENTIFICATION DETAILS

Name :	PATRICK SHOES LIMITED
Formerly Known As :	PAIRS FOOTWEAR LIMITED
Registered Office :	Briggs House 430 Thurmaston Boulevard Leicester LE4 9LE
Country :	United Kingdom
Financials (as on) :	30.04.2017
Date of Incorporation :	01.12.2015
Com. Reg. No.:	09897569
Legal Form :	Private limited with Share Capital
Line of Business :	Wholesale of clothing and footwear
No. of Employees :	9 (2017)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A+

Credit Rating	Explanation	Rating Comments
A+	Low Risk	Business dealings permissible with low risk of default

Status :	Good
Payment Behaviour :	Regular
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
United Kingdom	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately 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. 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; 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 the UK’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 then CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which has continued under the Conservative government. However, the deficit still remains one of the highest in the G7, standing at 3.6% of GDP as of 2017, and the UK has pledged to lower its corporation tax from 20% to 17% by 2020. The UK had a debt burden of 90.4% GDP at the end of 2017.

The UK’s economy has begun to slow since the referendum vote to leave the EU in June 2016. A sustained depreciation of the British pound has increased consumer and producer prices, weighing on consumer spending without spurring a meaningful increase in exports. The UK has an extensive trade relationship with other EU members through its single market membership and economic observers have warned the exit will jeopardize its position as the central location for European financial services. Prime Minister MAY is seeking a new “deep and special” trade relationship with the EU following the UK’s exit. However, economists doubt that the UK will be able to preserve the benefits of EU membership without the obligations.

Source : CIA

Company Name and address

PATRICK SHOES LIMITED

BRIGGS HOUSE 430 THURMASTON BOULEVARD LEICESTER LE4 9LE

Company No.

09897569

Company Status

Active - Accounts Filed

Company Summary

Registered Address BRIGGS HOUSE
430 THURMASTON BOULEVARD
LEICESTER
LE4 9LE

Trading Address Briggs House
430 Thurmaston Boulevard
Leicester
LE4 9LE
LE4 9LE

Website Address -

Telephone Number -

Fax Number

TPS -

FPS Yes

Incorporation Date 01/12/2015

Previous Name PAIRS FOOTWEAR LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 01/03/2016

Filing Date of Accounts 23/11/2017

Currency GBP

Share Capital £1,939,823

SIC07 46420

Charity Number -

SIC07 Description WHOLESALE OF CLOTHING AND FOOTWEAR

Principal Activity

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company AMINSONS INVESTMENTS LIMITED

Accountant WATERGATES LTD

Mortgages 2

Group 2 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder's Funds Employees

30/04/2017 - - £2,011,794 9

30/04/2016 - - £1,965,085 1

Mortgage Summary

Total Mortgage 2

Outstanding 1

Satisfied 1

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

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

The latest cash balances represent a positive level in terms of the overall outstanding creditor obligations.

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	6	Total Current Secretaries	0
Total Previous Directors / Company Secretaries	0	Total Person's With Significant Control	4

Current Directors

Title	Mr	Function	Director
Name	Nicholas Simon Englert	Nationality	British
Date of Birth	07/1962	Present Appointments	5
Latest Address	Broad March Long March Industrial Estate, Daventry, Northamptonshire	Appointment Date	01/12/2015
Post Code	NN11 4HE
Title	Mr	Function	Director
Name	Mark Christopher Englert	Nationality	British
Date of Birth	09/1959	Present Appointments	7
Latest Address	Broad March Long March Industrial Estate, Daventry, Northamptonshire	Appointment Date	01/12/2015
Post Code	NN11 4HE

Title	Mr	Function	Director
Name	Akbar Waris	Nationality	British
Date of Birth	11/1970	Present Appointments	3
Latest Address	Briggs House 430 Thurmaston Boulevard, Leicester, Leicestershire	Appointment Date	29/04/2016
Post Code	LE4 9LE
Title	Mr	Function	Director
Name	Yusuf Amin	Nationality	Indian
Date of Birth	04/1996	Present Appointments	2
Latest Address	Briggs House 430 Thurmaston Boulevard, Leicester, Leicestershire	Appointment Date	29/04/2016
Post Code	LE4 9LE

Title	Mr	Function	Director
Name	Mohammad Shadab	Nationality	Indian
Date of Birth	01/1977	Present Appointments	1
Latest Address	Briggs House 430 Thurmaston Boulevard, Leicester, Leicestershire	Appointment Date	29/04/2016
Post Code	LE4 9LE
Title	Mr	Function	Director
Name	Mukhtarul Amin	Nationality	Indian
Date of Birth	02/1952	Present Appointments	1
Latest Address	Briggs House 430 Thurmaston Boulevard, Thurmaston, Leicester	Appointment Date	29/04/2016
Post Code	LE4 9LE

Current Company Secretary

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
AMINSONS INVESTMENTS LIMITED	GBP	1,939,823	ORDINARY	1	100

Profit & Loss

	Date Of Accounts	30/04/17	(%)	30/04/16	(%)	-	(%)	-	(%)	-
	Weeks	52	(%)	52	(%)	-	(%)	-	(%)	-
	Currency	GBP	(%)	GBP	(%)	-	(%)	-	(%)	-
	Consolidated A/cs	N	(%)	N	(%)	-	(%)	-	(%)	-
	Turnover	-	-	-	-	-	-	-	-	-
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	-	-	-	-	-	-	-	-	-
	Gross Profit	-	-	-	-	-	-	-	-	-
	Wages & Salaries	-	-	-	-	-	-	-	-	-
	Directors Emoluments	-	-	-	-	-	-	-	-	-
	Operating Profit	-	-	-	-	-	-	-	-	-
	Depreciation	£6,749	-92%	£84,000	-	-	-	-	-	-
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	30/04/17	(%)	30/04/16	(%)	-	(%)	-	(%)	-
	Tangible Assets	£23,875	-21%	£30,224	-	-	-	-	-	-
	Intangible Assets	£735,000	-10.3%	£819,000	-	-	-	-	-	-
	Total Fixed Assets	£758,875	-10.6%	£849,224	-	-	-	-	-	-
	Stock	£789,625	29.7%	£608,974	-	-	-	-	-	-
	Trade Debtors	£510,250	-25.4%	£683,563	-	-	-	-	-	-
	Cash	£116,076	-63.8%	£320,856	-	-	-	-	-	-
	Other Debtors	£178,375	15.1%	£154,911	-	-	-	-	-	-
	Miscellaneous Current Assets	0	-	0	-	-	-	-	-	-
	Total Current Assets	£1,594,326	-9.8%	£1,768,304	-	-	-	-	-	-
	Trade Creditors	£204,290	-56.3%	£467,199	-	-	-	-	-	-
	Bank Loans & Overdrafts	£555	-	0	-	-	-	-	-	-
	Other Short Term Finance	0	-100%	£15,000	-	-	-	-	-	-
	Miscellaneous Current Liabilities	£136,562	-19.8%	£170,244	-	-	-	-	-	-
	Total Current Liabilities	£341,407	-47.7%	£652,443	-	-	-	-	-	-
	Bank Loans & Overdrafts and LTL	£555	-	0	-	-	-	-	-	-
	Other Long Term Finance	0	-	0	-	0	-	-	-	-
	Total Long Term Liabilities	0	-	0	-	-	-	-	-	-

Capital & Reserves

	Date Of Accounts	30/04/17	(%)	30/04/16	(%)	-	(%)	-	(%)	-
	Called Up Share Capital	£1,939,823	-	£1,939,823	-	-	-	-	-	-
	P & L Account Reserve	£71,971	184.9%	£25,262	-	-	-	-	-	-
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£2,011,794	2.4%	£1,965,085	-	-	-	-	-	-

Other Financial Items

	Date Of Accounts	30/04/17	(%)	30/04/16	(%)	-	(%)	-	(%)	-
	Net Worth	£1,276,794	11.4%	£1,146,085	-	-	-	-	-	-
	Working Capital	£1,252,919	12.3%	£1,115,861	-	-	-	-	-	-
	Total Assets	£2,353,201	-10.1%	£2,617,528	-	-	-	-	-	-
	Total Liabilities	£341,407	-47.7%	£652,443	-	-	-	-	-	-
	Net Assets	£2,011,794	2.4%	£1,965,085	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	30/04/17	(%)	30/04/16	(%)	-	(%)	-	(%)	-
	Contingent Liability	NO	-	NO	-	-	-	-	-	-
	Capital Employed	£2,011,794	2.4%	£1,965,085	-	-	-	-	-	-
	Number of Employees	9	800%	1	-	-	-	-	-	-
	Accountants	WATERGATES LTD
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	30/04/17	30/04/16	-	-	-
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	4.67	2.71	-	-	-
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	0	0	-	-	-
	Equity in %	124.30	109.30	-	-	-
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	2.35	1.77	-	-	-
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	0.16	0.33	-	-	-
	Total Debt Ratio	0.16	0.33	-	-	-
	Stock Turnover Ratio %	-	-	-	-	-
	Return on Net Assets Employed %	-	-	-	-	-

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
01/02/2018	Confirmation Statement
27/11/2017	New Accounts Filed
27/11/2017	New Accounts Filed
10/12/2016	Annual Returns
07/12/2016	Change in Reg.Office
07/12/2016	Change of Company Postcode
25/05/2016	New Board Member Mr M. Amin appointed
19/05/2016	New Board Member Mr M. Shadab appointed
19/05/2016	New Board Member Mr Y. Amin appointed
19/05/2016	New Board Member Mr A. Waris appointed
03/03/2016	Change of Name
29/01/2016	New Board Member Mr M.C. Englert appointed
03/12/2015	New Board Member Mr M. Christopher appointed
03/12/2015	New Board Member Mr N.S. Englert appointed

Previous Company Names

Date	Previous Name
01/03/2016	PAIRS FOOTWEAR LIMITED

Writ Details

No writs found

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	AMINSONS INVESTMENTS LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	AMINSONS INVESTMENTS LIMITED

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
AMINSONS INVESTMENTS LIM...	09632082	30.04.2017	N
PATRICK SHOES LIMITED	09897569	30.04.2017	N

Mortgage Details

Mortgage Type:
Date Charge Created:	29/04/16
Date Charge Registered:	18/05/16
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BANK OF BARODA;
Amount Secured:
Details:	ALL FREEHOLD AND LEASEHOLD PROPERTIES (WHETHER REGISTERED OR UNREGISTERED) AND IN ALL COMMONHOLD PROPERTIES, NOW OR IN THE FUTURE (AND FROM TIME TO TIME) OWNEDBY PATRICK SHOES LIMITED, OR IN WHICH PATRICK SHOES LIMITED HOLDS AN INTEREST.CONTAINS FIXED CHARGE.CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.
Mortgage Type:
Date Charge Created:	25/01/16
Date Charge Registered:	28/01/16
Date Charge Satisfied:	10/05/16
Status:	SATISFIED
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.

Previous Director/Company Secretaries

No Previous Director Details
Total Persons With Significant Control	4	Total Statements	0
Active	2	Active	0
Ceased	2	Ceased	0

Active Persons With Significant Control

Name	Aminsons Investments Limited	Kind		Corporate Entity With Significant Control
Address	66 Commercial Square Freemans Common, Leicester, Leicestershire	Notified On		29/04/2016
Post Code	LE2 7SR	Legal Form		Limited Company
Authority	Companies Act 2006	Place Registered		N/A
Country Registered	England And Wales	Registration Number		09632082
Nature Of Control	Ownership Of Shares 75 To 100 Percent,Voting Rights 75 To 100 Percent,Right To Appoint And Remove Directors
Name	Mr Mukhtarul Amin	Kind	Individual Person With Significant Control
Address	Briggs House 430 Thurmaston Boulevard, Thurmaston, Leicester	Country Of Residence	India
Post Code	LE4 9LE	Nationality	Indian
Date of Birth	02/1952	Notified On	29/04/2016
Nature Of Control	Ownership Of Shares 25 To 50 Percent,Voting Rights 25 To 50 Percent,Right To Appoint And Remove Directors

Ceased Persons With Significant Control

Name	Mr Mark Christopher Englert	Kind	Individual Person With Significant Control
Address	6 Hazelwood Road, Northampton	Country Of Residence	United Kingdom
Post Code	NN1 1LW	Nationality	British
Date of Birth	09/1959	Notified On	06/04/2016
Nature Of Control	Ownership Of Shares 50 To 75 Percent,Voting Rights 50 To 75 Percent,Right To Appoint And Remove Directors	Ceased On	29/04/2016
Name	Mr Nicholas Simon Englert	Kind	Individual Person With Significant Control
Address	6 Hazelwood Road, Northampton	Country Of Residence	Daventry
Post Code	NN1 1LW	Nationality	British
Date of Birth	07/1962	Notified On	06/04/2016
Nature Of Control	Ownership Of Shares 25 To 50 Percent,Voting Rights 25 To 50 Percent,Right To Appoint And Remove Directors	Ceased On	29/04/2016

Active Statements

No Active Statements To Display

Ceased Statements

No Ceased Statements To Display

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.22
UK Pound	1	INR 90.88
Euro	1	INR 80.09
GBP	1	INR 91.29

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

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	TRU

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.