Credit Report - Sample • Executive Summary • Header Information • Statutory Information • Company Capitalisation • Financial Analysis • Ratio Analysis • Industry Comparison • Auditors • Company Officers • Safeguard Information • Gazette or Detrimental Information • Credit Risk Information • Analyst Report Top Executive Summary Credit Category: Green Credit Limit: 10,000,000 Top Header Information Date Delivered: 23/04/2008 Report Name: Credit Report Time Delivered: 13:09:37 Report Version: 1.2 Account Number: 15537 Report Currency: GBP Top Statutory Information Company Name: HARRODS LIMITED Company Number: 00030209 Date of Incorporation: 20/03/1889 Company Type: Private Limited Latest Accounts to: 03/02/2007 Accounts Type: Group Accounts Latest Return to: 08/11/2007 Legal Status: Claim Form Legal Status Date: 30/07/2002 Company Secretary: SIMON DAVID HATHERLY DEAN Registered Office: 87/135 BROMPTON ROAD LONDON SW1X 7XL Post Code: SW1X 7XL Business Address: Brompton Rd Knightsbridge LONDON London SW1X 7XL Business Phone No: 020 7730 1234 Fax Number: Names of Directors: MOHAMED AL FAYED,ALI FAYED,ANIL TANNA,RAJIV LOCHAN ASSANAND,JEFFREY BYRNE,BENEDICT JAMES SMITH,DAWSON RAY PARKER,JAMES PHILIP HEALY,OMAR ALEXANDER MOHAMED AL FAYED,MARIA GAYNOR MCKEE,MICHAEL ASHLEY WARD Business Activities: Operate the world renowned department store in London. SIC Codes: 5212 OTHER RETAIL NON-SPECIALISED STORES US SIC Codes: 5311 DEPARTMENT SHOPS 5990 RETAIL STORES N.E.C. 5099 DURABLE GOODS NEC 0 CRO Activity: 01/12/1998 Annual Return Made Up Date 01/12/1998 SIC Codes 15/10/1999 Accounts Made Up Date 26/11/1999 Annual Return Made Up Date 26/11/1999 SIC Codes 29/07/2000 Accounts Made Up Date 23/11/2000 Annual Return Made Up Date 23/11/2000 SIC Codes 20/11/2001 Annual Return Made Up Date 20/11/2001 SIC Codes 29/11/2001 Accounts Made Up Date 09/11/2002 Annual Return Made Up Date 09/11/2002 SIC Codes 26/11/2002 Accounts Made Up Date 25/11/2003 Annual Return Made Up Date 25/11/2003 SIC Codes 28/11/2003 Accounts Made Up Date 21/06/2004 Accounts Made Up Date 11/11/2004 Annual Return Made Up Date 11/11/2004 SIC Codes 29/11/2005 Annual Return Made Up Date 29/11/2005 SIC Codes 30/11/2005 Accounts Made Up Date 28/11/2006 Annual Return Made Up Date 28/11/2006 SIC Codes 29/11/2006 Accounts Made Up Date 03/08/2007 Accounts Made Up Date 03/12/2007 Annual Return Made Up Date 03/12/2007 SIC Codes Previous Names: N/A Top Company Capitalisation Share Currency: GBP Issued at date of report: 192,000,000 ORD Shares of 0.10 each Principal Shareholders: Type of Share No. of Shares Value Harrods (UK) Ltd ORD 191,999,999 19,199,999.90 87-135 Brompton Road Knightsbridge London SW1X 7XL Harrods Nominees Ltd ORD 1 0.10 87-135 Brompton Road Knightsbridge London SW1X 7XL Immediate Holding Company: 01889348 HARRODS (UK) LIMITED Ultimate Holding Company: FP012808 ALFAYED INVESTMENT & TRUST PVT LP (BERMUDA) Up to 10 UK Subsidiaries: 00030209 HARRODS LIMITED 00099442 WYLIE AND COMPANY,LIMITED 00156158 HARRODS(CONTINENTAL),LIMITED 00208938 HARRODS VILLAGE LIMITED 00353351 HARRODS GROUP TRUSTEES LIMITED 00676533 HARRODS INTERNATIONAL LIMITED 00676534 HARRODS (MANAGEMENT) LIMITED 00782686 KURT GEIGER SHOES LIMITED 00835993 HARRODS ESTATES LIMITED 00855607 GENERAL NAVIGATION & COMMERCE COMPANY LIMITED Charges/Debentures Registered Full Mortgage Details Charge: 3 Dated: 15/11/2000 Date Registered:28/11/2000 CHARGE OVER SECURITIES Amount Secured:ALL MONIES AND LIABILITIES DUE OR TO BECOME DUE FROM THE BORROWER AND/OR THE COMPANY TO THE BENEFICIARIES ON ANY ACCOUNT WHATSOEVER Person(s) Entitled:NATIONAL WESTMINSTER BANK PLC (AS SECURITY TRUSTEE FOR THE BENEFICIARIES PURSUANT TO THE FACILI,,,,, TY AGREEMENT) Property Charged:BY WAY OF FIRST FIXED CHARGE THE 100,000 ORDINARY SHARES (AS DEFINED) TOGETHER WITH ALL ALLOTMENTS, ACCRETIONS, BENEFITS AND ADVANTAGES WHATEVER NOW OR IN THE FUTURE ACCRUING IN RESPECT OF THEM SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS Property Ceasing to Belong Charge: 4 Dated: 15/11/2000 Date Registered:28/11/2000 CHARGE OVER CONSTRUCTION AGREEMENTS Amount Secured:ALL MONIES AND LIABILITIES DUE OR TO BECOME DUE FROM THE BORROWER AND/OR THE COMPANY TO THE BENEFICIARIES ON ANY ACCOUNT WHATSOEVER Person(s) Entitled:NATIONAL WESTMINSTER BANK PLC (AS SECURITY TRUSTEE FOR THE BENEFICIARIES PURSUANT TO THE FACILI,,,,, TY AGREEMENT) Property Charged:THE COMPANYS' INTEREST IN THE BUILDING CONTRACT (AS DEFINED THEREIN) THE PROFESIONAL CONTRACTS AND THE GENERAL DEVELOPMENT DOCUMENTS AND THE CONTRACTS INCLUDING ALL CAPITAL MONIES OR OTHER SUMS PAYABLE UNDER THEM AND THE BENEFIT OF ALL COVENANTS AND AGREEMENTS AND ANY GUARANTEES SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS Charge: 6 Dated: 15/12/2006 Date Registered:22/12/2006 CHARGE OVER SUB-CONTRACTOR WARRANTIES Amount Secured:ALL MONIES DUE OR TO BEOCME DUE FROM EACH OBLIGOR TO THE FINANCE PARTIES ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE Person(s) Entitled:THE ROYAL BANK OF SCOTLAND PLC (SECURITY TRUSTEE) Property Charged:ALL RIGHTS OF INTEREST IN THE CONSTRUCTION DOCUMENTS AND ITS INTELLECTUAL PROPERTY THE BENEFIT OF THE COPYRIGHT AND SIMILAR RIGHTS ALL CAUSES OF ACTION AND THE BENEFIT OF ANY MONIES PAID OR PAYABLE SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS Charge: 7 Dated: 10/01/2007 Date Registered:12/01/2007 FLOATING CHARGE Amount Secured:ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY OR HARRODS HOLDINGS LIMITED TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER Person(s) Entitled:HARRODS GROUP TRUSTEES LIMITED Property Charged:FLOATING CHARGE ON ALL PRESENT AND FUTURE ITEMS OF STOCK IN TRADE SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS Bankers are: Top Financial Analysis Accounts Type: Group Accounts Scale: Millions Currency: GBP Profit & Loss Extracts No. of Months: 12 12 12 12 Period Ending: 03/02/2007 28/01/2006 29/01/2005 31/01/2004 Consolidated: Yes Yes Yes Yes Turnover: 401.00 352.10 343.90 329.40 Interest Paid: 21.00 25.90 27.50 25.70 Exports: 4.20 6.10 5.20 6.60 Dividends: 55.00 17.00 39.00 27.00 Directors Fees: 0.01 0.01 2.40 2.60 Wages: 92.70 87.40 84.00 72.80 Profit Before Tax: 42.70 22.30 23.90 19.90 Profit After Tax: 31.00 13.50 14.10 15.30 Balance Sheet Extracts No. of months: 12 12 12 12 Period Ending: 03/02/2007 28/01/2006 29/01/2005 31/01/2004 Tangible Fixed Assets: 66.00 755.90 778.40 792.30 Intangible Assets: N/K N/K N/K N/K Investments: 427.70 144.00 N/K N/K Total Fixed Assets: 493.70 899.90 778.40 792.30 Stock: 36.20 31.00 33.40 31.90 Trade Debtors: 9.20 12.80 11.10 8.60 Cash & Equivalent: 52.00 72.10 62.40 37.70 Inter Company Balances: 0.10 N/K 0.90 0.30 Total Current Assets: 105.00 121.20 120.50 83.80 Total Assets: 598.70 1,021.10 898.90 876.10 Trade Creditors: 54.90 39.60 34.90 33.70 Overdrafts: 0.00 0.00 0.00 0.00 ShortTerm Loans: 0.00 6.70 6.90 3.90 Inter Company Balances: 0.10 3.60 6.50 6.50 Total Current Liabilities: 99.60 91.00 101.40 88.20 Net Current Assets: 5.40 30.20 19.10 -4.40 Long Term Borrowings: 0.00 344.30 360.20 329.50 Other L.T. Liabilities: 17.80 98.40 18.60 14.80 Total L.T. Liabilities: 17.80 442.70 378.80 344.30 Paid Up Equity: 19.20 19.20 19.20 19.20 Reserves: 462.10 468.20 399.50 424.40 Shareholders Funds: 481.30 487.40 418.70 443.60 Number of Employees: 2,970 3,123 3,121 3,468 Top Ratio Analysis Figures Stated in: Millions Key Ratios No. of Months: 12 12 12 12 Period Ending: 03/02/2007 28/01/2006 29/01/2005 31/01/2004 Profit Margin: 10.65 6.33 6.95 6.04 Profit/Capital Employed: 8.56 2.40 3.00 2.53 Profit/Assets: 7.13 2.18 2.66 2.27 Current Debt: 0.21 0.19 0.24 0.20 Total Debt: 0.24 1.09 1.15 0.97 Long Term Debt: 0.04 0.48 0.47 0.44 Current Ratio: 1.05 1.33 1.19 0.95 Liquidity Ratio: 0.69 0.99 0.86 0.59 Stock/Turnover: 11.08 11.36 10.30 10.33 Collection Period: 8.37 13.27 11.78 9.53 Creditor Days: 49.97 41.05 37.04 37.34 Gearing (%): -10.80 57.22 72.77 66.66 Interest Coverage: 2.03 0.86 0.87 0.77 Credit Gearing: 2.08 2.05 2.39 2.25 Indicator Ratio: 29.93 34.08 34.89 36.43 Top Industry Comparison Industry: 55 Departmental Stores No. of companies: 3,572 Last Updated: 01/04/2008 Industry Comparison/Average: Latest Previous Previous Previous Scale: M M M M Turnover: 40.64 40.32 40.51 44.12 Profit Before Tax: 2.18 2.10 2.64 2.56 Debtors: 0.82 0.86 0.79 2.25 Total Assets: 30.99 32.82 35.04 40.75 Shareholders Funds: 13.78 13.82 14.98 18.51 Profit Margin (%): 5.36 5.21 6.52 5.80 Liquidity Ratio: 0.76 0.93 1.08 1.14 Collection Period: 7.36 7.79 7.12 18.61 Stock/Turnover: 14.67 13.86 12.78 12.57 Creditor Days: 19.94 21.55 21.08 18.94 Solvency Ratio (%): 44.47 42.11 42.75 45.42 Gearing (%): 63.64 76.63 84.18 70.83 Top Auditors

Auditors are:	Grant Thornton UK LLP
Town:	LONDON
Auditors Remuneration:	83,000
Auditors Comment on the latest Balance Sheet:
The accounts give a true and fair view.
Auditors Qualified Accounts?	no

Top	Company Officers

Co Secretary:	SIMON DAVID HATHERLY DEAN
Nationality:	BRITISH	Date Appointed:	01/06/2004
Home Address:		Date of Birth:	30/12/1964
3 THE FERNS		Occupation:
PLATT
SEVENOAKS
KENT TN15 8JF		Co Sec & Director:	N
		Other Directorships:	Y
Director Details
Director:	MOHAMED AL FAYED
Nationality:	BRITISH	Date Appointed:	08/11/1991
Home Address:		Date of Birth:	27/01/1933
60 PARK LANE		Occupation:
		COMPANY DIRECTOR
LONDON
W1K 1QE		Other Directorships:	Y
Director:	ALI FAYED
Nationality:	BRITISH	Date Appointed:	08/11/1991
Home Address:		Date of Birth:	18/12/1943
60 PARK LANE		Occupation:
		COMPANY DIRECTOR
LONDON
W1K 1QE		Other Directorships:	Y
Director:	ANIL TANNA
Nationality:	BRITISH	Date Appointed:	16/11/1999
Home Address:		Date of Birth:	16/06/1947
149 ALBURY DRIVE		Occupation:
		CHARTERED ACCOUNTANT
PINNER
MIDDLESEX HA5 3RH		Other Directorships:	Y
Director:	RAJIV LOCHAN ASSANAND
Nationality:	BRITISH	Date Appointed:	14/04/1994
Home Address:		Date of Birth:	25/04/1957
6A MATTHEWS STREET		Occupation:
		RETAIL EXECUTIVE
LONDON
SW11 5AB		Other Directorships:	Y
Director:	JEFFREY BYRNE
Nationality:	BRITISH	Date Appointed:	18/10/1999
Home Address:		Date of Birth:	06/12/1958
22 THURLEIGH ROAD		Occupation:
		LAWYER
LONDON
SW12 8UG		Other Directorships:	Y
Director:	BENEDICT JAMES SMITH
Nationality:	BRITISH	Date Appointed:	10/11/2006
Home Address:		Date of Birth:	15/01/1969
FLAT 9		Occupation:
62 ECCLESTON SQUARE		GROUP FINANCE DIRECTOR
LONDON
SW1V 1PH		Other Directorships:	Y
Director:	DAWSON RAY PARKER
Nationality:	AMERICAN	Date Appointed:	13/05/2002
Home Address:		Date of Birth:	10/03/1948
LONGCROFT		Occupation:
1 CROSSACRES, PYRFORD WOODS		RETAIL EXECUTIVE
WOKING
SURREY GU22 8QS		Other Directorships:	Y
Director:	JAMES PHILIP HEALY
Nationality:	BRITISH	Date Appointed:	10/02/2003
Home Address:		Date of Birth:	11/03/1966
58 ST JAMES'S DRIVE		Occupation:
WANDSWORTH		RETAIL EXECUTIVE
LONDON
SW17 7RT		Other Directorships:	Y
Director:	OMAR ALEXANDER MOHAMED AL FAYED
Nationality:	BRITISH	Date Appointed:	01/11/2006
Home Address:		Date of Birth:	01/10/1987
60 PARK LANE		Occupation:
		COMPANY DIRECTOR BUSINESSMAN
LONDON
W1K 1QE		Other Directorships:	Y
Director:	MARIA GAYNOR MCKEE
Nationality:	BRITISH	Date Appointed:	24/11/2005
Home Address:		Date of Birth:	25/05/1965
5 THE COMMON		Occupation:
EALING		RETAIL EXECUTIVE
LONDON
W5 3TR		Other Directorships:	N
Director:	MICHAEL ASHLEY WARD
Nationality:	BRITISH	Date Appointed:	01/08/2006
Home Address:		Date of Birth:	31/07/1956
FLAT 603 SHAD THAMES		Occupation:
		MANAGING DIRECTOR
LONDON
SE1 2YL		Other Directorships:	Y

Top	Safeguard Information

Safeguard Score:	+50
Safeguard Codes:
C8	External interest in subject predates 5 years.
H3	A Director and/or Secretary have been recorded as holding a directorship of one other company which has been subjected to voluntary or compulsory winding up procedures or an administration order.
H4	Caution.Current/previous Director(s) and/or current/previous Secretary have been recorded as being directors of a company/or companies which have been struck off the Register of Companies as a result of either a subject company voluntary application or due to non compliance.
V6	The auditors audit 16 or more U.K. limited companies according to data on file from Companies Registration Office

Safeguard Guidance
Safeguard evaluates a company against approximately 50 indicators of credit/fraud risk, providing a simple summary rating (positive is good). There are no benchmark scores, as the score is mainly driven by three variables, the number of directors, the size of the company and the risk assessment of those directors. The highest risk profile would therefore be a small company, with a low number of directors and a significant negative score. If further investigation is required, our "Directors Investigation Report" will provide more detailed information.

Top	Gazette or Detrimental Information

HCW	Claim Form
	Published:		Dated:	08/08/2002
	On 30/07/2002 a Claim Form was issued at R C J - LONDON QUEENS BENCH against the subject Company at the following address:- 87/135 BROMPTON RD,LONDON,SW1X 7XL. The Plaintiff is ESSANELLE LIMITED. The Solicitor acting on behalf of the plaintiff is S P R AVERY MIDGEN of:- , Fax number , Telex Number . Case number 20022473.

Top	Credit Risk Information

CCJ's Registered

Information concerning County Court Judgements is provided in good faith; however we do not accept responsibility for the accuracy thereof

Exact Matches
Court	Date	Amount of Judgement		Status	Date Settled
BASINGSTOKE	11/07/2007	866		Judgement
Case No. 7BK03436

Gazette Information
Claim Form	30/07/2002
Payment Profiles
Creditor Days
Sector Average:	19.94 Days
HARRODS LIMITED:	49.97 Days
Liquidity Ratio
Sector Average:	0.76
HARRODS LIMITED:	0.69
Vital Signs
Turnover increased by:	13.9%
Pre Tax Profit increased by:	91.5%
Gearing decreased by:	118.9%
Working Capital decreased by:	82.1%
Credit Score:	88
Credit Rating:	A
Credit Category:	Green
Credit Limit:	10,000,000
Credit Score Date:	23/04/2008

Credit Rating Guidance
Credit Score Range: 0 (Poor) to 100 (Excellent)
Credit Rating Codes: A=Excellent, B=Very Good, C=Above Average, D=Average, E=Poor, F=Very Poor, G=Serious Gazette code present, I=Technically insolvent, O=Late filing of accounts, N=Dormant accounts filed, NA=No accounts filed yet, NR=No Report, NT=Does not trade

Top	Analyst Report

The Companys latest filed accounts are for the year ended 03/02/2007. Figures are taken from consolidated accounts. Turnover has increased from GBP352.10m to GBP401.00m over the past year. Pre-tax profit has increased from GBP22.30m to GBP42.70m. There is exceptional income of GBP11.30m. Proposed and paid dividends total GBP55.00m. Investments listed under fixed assets are GBP427.70m. The companys liquidity appears to be healthy, with net current assets of GBP5.40m. (Previous accounts show net current assets of GBP30.20m). Bank and cash figures total GBP52.00m. The companys total reserves stand at GBP462.10m of which GBP461.70m is due to the profit and loss account balance. The revaluation reserve stands at GBP400000 (previous year GBP504.10m). All contracts may be considered. Having reviewed and analysed the latest information available: We would suggest setting a credit limit on monthly terms of GBP 10,000,000

Copyright 2008 Creditgate Limited. All Rights Reserved. | Home | Terms and Conditions | Privacy | A-Z | Site Map