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Credit Overview


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.

TopGazette or Detrimental Information

HCWClaim 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.


TopCredit 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
CourtDateAmount of JudgementStatusDate Settled
BASINGSTOKE11/07/2007866Judgement
Case No. 7BK03436


Gazette Information
Claim Form30/07/2002

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

TopAnalyst 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