| HARRODS HOLDINGS LIMITED |
Reg No 01848143 |
|
Statutory Information
| | | |
Previous name(s):
| HARRODS HOLDINGS PLC (until
29/03/2000)
| | HARRODS INVESTMENTS PLC (until 26/07/1996)
| | HOUSE OF FRASER HOLDINGS PLC (until 30/01/1994)
| | ALFAYED INVESTMENT AND TRUST (UK) PLC (until 24/12/1985)
| | PRECIS (317) LIMITED (until 19/11/1984)
| | | |
Registered Number:
| 01848143 |
Incorporation Date:
| 14/09/1984 | | | | |
Registered Office:
| 87-135 BROMPTON ROAD | |
| KNIGHTSBRIDGE | |
| LONDON | |
| SW1X 7XL | | | |
Latest Filed Accounts:
| 29/01/2005 |
Date Accounts Lodged:
| 30/11/2005 | |
Analysed Accounts:
| 29/01/2005 |
Accounts Ref. Date:
| 31/01 | | | |
Latest Annual Return:
| 08/11/2005 |
Issued Capital:
GBP
| 50,000,002 | | | |
Company Status:
| Large | |
| Public limited with share capital | |
| English/Welsh companies incorporated under part 1 of the Companies Act | |
Type of Accounts:
| Group | | | |
Directory Information
| | | |
Trading Address:
| - | | | |
Telephone Number:
| - |
Fax Number:
| - | | | |
Region:
| CENTRAL LONDON | |
Bankers:
| NATWEST BANK | |
Auditors:
| Grant Thornton UK LLP | |
Audit Opinion or Qualification:
| The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 29/01/2005. | |
Principal Activities:
| A group engaged in the operation of retail businesses and the provision of aviation services. | | | |
UK SIC Code(s):
| | 52120 | Other retail sale in non-specialised stores |
| | |
|
Risk Information
| | | |
Todays Score:
| 79 |
Credit Limit (GBP):
| 25,000,000 | | 29/01/2005 | 78 |
Contract Limit (GBP):
| 70,000,000 | | 31/01/2004 | 85 | | 01/02/2003 | 77 | | 02/02/2002 | 79 | |
Commentary
| | Based on standard Companies House filing requirements the latest accounts were late in being filed.The company has been established for more than 21 years.The period to 29/01/2005 saw a slight increase in Sales from £433,700,000 to £448,400,000.Pre-Tax Profits decreased from £15,800,000 to £15,500,000.The resultant Profit Margin of 3.46% (previous = 3.64%) compares unfavourably with the industry average of 3.91%.Shareholders Funds decreased from £356,800,000 to £325,600,000, whilst Total Assets increased from £799,900,000 to £821,900,000.The resultant Gearing Ratio of 0.40 (Previous = 0.45) compares favourably with the industry average of 0.33.This company operates in a sector which has historically generated a similar level of insolvency relative to the total population. |
| | |
County Court Judgments Summary:
|
Number of exact unsatisfied CCJs
None
| |
Number of probable unsatisfied CCJ
None
| |
Number of possible unsatisfied CCJs:
None
| | | |
| |
|
Ownership
| | | |
GROUP STRUCTURE
| |
Holding Company:
| None | |
Ultimate Holding Company:
| ALFAYED INVESTMENT & TRUST PVT LP [Bermuda] | | |
|
ALL IMMEDIATE SHAREHOLDINGS ON ICC DATABASE BY TURNOVER
| | | |
Name
|
Share Class
|
% Held
|
Sales ('000)
|
A/c Date
|
Status
| | HARRODS (UK) LIMITED | ORDINARY | 100.00 | 400 | 29/01/2005 | Trading | | |
|
Profit & Loss Account
| | | |
Date of Accounts
| 29/01/2005 | 31/01/2004 | 01/02/2003 | 02/02/2002 | 27/01/2001 | |
Consolidated
| Y | Y | Y | Y | Y | |
Subsidiary
| Y | Y | Y | Y | Y | |
No. of Weeks
| 52 | 52 | 52 | 53 | 52 | |
Currency
|
(GBP '000)
|
(GBP '000)
|
(GBP '000) |
(GBP '000) |
(GBP '000) | |
Audit Qual./Comment
| No | No | No | No | No |
| | | Turnover [1] | 448,400 | 433,700 | 425,200 | 531,200 | 540,200 | | Cost of Sales | 208,500 | 209,400 | 206,500 | 307,000 | 316,300 | | Gross Profit | 239,900 | 224,300 | 218,700 | 224,200 | 223,900 | | Operating Profit [2] | 40,900 | 40,200 | 23,200 | 31,500 | 34,900 | | Non-Trading Income | 2,400 | 2,300 | 2,200 | 9,900 | -6,200 | | Interest Payable | 27,800 | 26,700 | 34,300 | 23,800 | 23,100 | | Pre-Tax Profit | 15,500 | 15,800 | -8,900 | 17,600 | 5,600 | | Taxation | 7,700 | 2,400 | -5,700 | 2,000 | -2,300 | | Profit After Tax | 7,800 | 13,400 | -3,200 | 15,600 | 7,900 | | Dividends Payable | - | - | - | - | - | | Retained Profit | -31,200 | -13,600 | -14,700 | -58,400 | -51,700 | | | | Value Added | 165,795 | 165,974 | 152,997 | 161,698 | 162,607 |
| | |
Balance Sheet
| | | |
Date of Accounts
| 29/01/2005 | 31/01/2004 | 01/02/2003 | 02/02/2002 | 27/01/2001 | |
Consolidated
| Y | Y | Y | Y | Y | |
Subsidiary
| Y | Y | Y | Y | Y | |
No. of Weeks
| 52 | 52 | 52 | 53 | 52 | |
Currency
|
(GBP '000)
|
(GBP '000)
|
(GBP '000) |
(GBP '000) |
(GBP '000) | | | | Tangible Fixed Assets [3] | 653,400 | 666,700 | 694,100 | 703,800 | 766,200 | | Intangible Assets | - | - | - | - | - | | Total Fixed Assets | 653,500 | 666,800 | 696,700 | 706,400 | 769,100 | | | | Stocks | 47,300 | 45,900 | 47,300 | 51,500 | 47,800 | | Trade Debtors | 19,700 | 15,500 | 12,800 | 12,400 | 9,700 | | Cash | 61,400 | 58,000 | 9,000 | 29,600 | 18,000 | | Miscellaneous Current Assets [4] | 40,000 | 13,700 | 45,700 | 21,600 | 20,300 | | Total Current Assets | 168,400 | 133,100 | 114,800 | 115,100 | 95,800 | | | | Creditors: Amounts falling due within one year [5] | 114,700 | 95,900 | 88,700 | 86,700 | 80,700 | | | | Total Assets less Current Liabilities | 707,200 | 704,000 | 722,800 | 734,800 | 784,200 | | | | Total Liabilities | 496,300 | 443,100 | 441,100 | 436,400 | 421,400 | | | | Share Capital & Reserves [7] | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | | P & L Account Reserve | -17,400 | 13,800 | 27,400 | 41,600 | 88,100 | | Revaluation Reserve | 293,000 | 293,000 | 293,000 | 293,500 | 305,400 | | Shareholders Funds | 325,600 | 356,800 | 370,400 | 385,100 | 443,500 | | Capital Employed | 707,200 | 704,000 | 722,800 | 734,800 | 784,200 | | | | Net Worth | 325,500 | 356,700 | 367,800 | 382,500 | 440,600 | | Working Capital | 53,700 | 37,200 | 26,100 | 28,400 | 15,100 | | | | Contingent Liabilities | 9,100 | 15,000 | 15,000 | - | - |
| | |
Cash Flow
| | | |
Date of Accounts
| 29/01/2005 | 31/01/2004 | 01/02/2003 | 02/02/2002 | 27/01/2001 | |
Consolidated
| Y | Y | Y | Y | Y | |
Subsidiary
| Y | Y | Y | Y | Y | |
No. of Weeks
| 52 | 52 | 52 | 53 | 52 | |
Currency
|
(GBP '000)
|
(GBP '000)
|
(GBP '000) |
(GBP '000) |
(GBP '000) | | | | Net Cash Flow from Operating Activities | 69,600 | 66,900 | 47,500 | 45,200 | 56,300 | | Net Cash Flow from Return on Investment and Servicing of Finance | -60,200 | -50,800 | -34,900 | -94,700 | -88,000 | | Net Cash Flow before Financing | -29,600 | 54,800 | -22,000 | 4,300 | -80,400 | | Net Cash Flow from Financing | 33,000 | -5,800 | 1,400 | 7,300 | 53,300 | | Increase in cash | 3,400 | 49,000 | -20,600 | 11,600 | -27,100 |
| | |
Accounts Notes
| | | |
Date of Accounts
| 29/01/2005 | 31/01/2004 | 01/02/2003 | 02/02/2002 | 27/01/2001 | |
Consolidated
| Y | Y | Y | Y | Y | |
Subsidiary
| Y | Y | Y | Y | Y | |
No. of Weeks
| 52 | 52 | 52 | 53 | 52 | |
Currency
|
(GBP '000)
|
(GBP '000)
|
(GBP '000) |
(GBP '000) |
(GBP '000) | | | | [1] Exports | 14,400 | 12,800 | 12,700 | 13,700 | 15,000 | |
[2] Operating Profit is after charging the following
| | Employees Remuneration | 91,300 | 91,100 | 94,200 | 97,100 | 94,300 | | Directors Remuneration | 1,129 | 1,426 | 1,328 | 2,001 | 1,201 | | Audit Fees | 400 | 300 | 300 | 300 | 300 | | Non-Audit Fees | 50 | 43 | 0 | 400 | 400 | | Depreciation | 24,100 | 25,200 | 25,800 | 23,000 | 23,600 | | | | Average Number of Employees (actual) | 4,099 | 4,548 | 4,657 | 4,795 | 4,955 | | | |
[3] Tangible Assets consist of
| | Fixed Assets | 645,700 | 659,000 | 686,400 | 696,100 | 729,400 | | Intermediate Assets | 7,700 | 7,700 | 7,700 | 7,700 | 36,800 | |
which includes:
| | -Due from Group, Non-Current | 0 | 0 | 0 | 0 | 0 | | | |
[4] Miscellaneous Current Assets includes:
| | -Due from Group, Current | 0 | 0 | 0 | 0 | 0 | |
[5] Creditors: Amounts falling due within one year consists of:
| | Trade Creditors | 44,100 | 40,200 | 37,400 | 37,400 | 33,800 | | a Bank Overdraft | 0 | 0 | 0 | 0 | 0 | | Miscellaneous Current Liabilities includes: | 70,600 | 55,700 | 51,300 | 49,300 | 46,900 | | b -Bank Loans - Current Portion | 7,200 | 4,200 | 4,300 | 4,000 | 4,400 | | c Other Short-Term Finance, including: | 0 | 0 | 0 | 0 | 0 | | -Due to Group, Current | 0 | 0 | 0 | 0 | 0 | | -Due to Directors, Current | 0 | 0 | 0 | 0 | 0 | | -Other Current Liabilities | - | - | - | - | - | | | | Short-Term Loans (a+b+c) | 7,200 | 4,200 | 4,300 | 4,000 | 4,400 | | | |
[6] Total Long-Term Liabilities consists of:
| | Long-Term Loans, which consists of: | 363,100 | 332,800 | 338,200 | 336,800 | 329,100 | | -Long-Term Bank Loans | 363,100 | 332,800 | 338,200 | 336,800 | 329,100 | | -Other Long-Term Finance including: | 0 | 0 | 0 | 0 | 0 | | -Due to Group, Non-Current | 0 | 0 | 0 | 0 | 0 | | -Due to Directors, Non-Current | 0 | 0 | 0 | 0 | 0 | | Other Long-Term Liabilities | 18,500 | 14,400 | 14,200 | 12,900 | 11,600 | | | |
[7] Share Capital and Reserves consists of:
| | Called-up Share Capital | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | | Sundry Reserves | 0 | 0 | 0 | 0 | 0 |
| | |
Ratios
| | | |
Date of Accounts
| 29/01/2005 | 31/01/2004 | 01/02/2003 | 02/02/2002 | 27/01/2001 | | Acid Ratio | 1.06 | 0.91 | 0.76 | 0.73 | 0.59 | | Profit/Capital Employed | 2.19 | 2.24 | -1.23 | 2.35 | 0.71 | | Current Liquidity | 1.47 | 1.39 | 1.29 | 1.33 | 1.19 | | Profit/Sales (%) | 3.46 | 3.64 | -2.09 | 3.31 | 1.04 | | Interest Burden | 64.20 | 62.82 | 135.04 | 57.49 | 80.49 | | Stock Turnover (days) | 38.50 | 38.63 | 40.60 | 36.07 | 32.30 | | Days Sales Outstanding (DSO) | 16.04 | 13.04 | 10.99 | 8.68 | 6.55 | | Cash Cycle (days) | 54.54 | 51.67 | 51.59 | 44.75 | 38.85 | | Days Purchases Outstanding (DPO) | 77.20 | 70.07 | 66.11 | 45.32 | 39.00 | | Creditor Days | 35.90 | 33.83 | 32.10 | 26.19 | 22.84 | | Profit/Total Assets (%) | 1.89 | 1.98 | -1.10 | 2.10 | 0.65 | | Profit/ Shareholders Funds (%) | 4.76 | 4.43 | -2.40 | 4.48 | 1.26 | | Sales/Total Assets (%) | 54.56 | 54.22 | 52.40 | 63.44 | 62.46 | | Sales/Fixed Assets | 0.69 | 0.66 | 0.62 | 0.75 | 0.74 | | Working Capital/Sales (%) | 11.98 | 8.58 | 6.14 | 5.45 | 2.80 | | Total Debt/Net worth (%) | 113.76 | 94.48 | 93.12 | 89.10 | 75.69 | | Shareholders Funds/Total Assets | 0.40 | 0.45 | 0.46 | 0.47 | 0.51 | | Long-term Debt/Net Worth (%) | 111.55 | 93.30 | 91.95 | 88.05 | 74.69 | | Interest/Pre-interest Profit | 64.20 | 62.82 | 135.04 | 57.49 | 80.49 | | Total Debt/Working Capital (%) | 6.90 | 9.06 | 13.12 | 12.00 | 22.09 | | Average Employee Remuneration
(£)
| 22,274 | 20,031 | 20,228 | 19,868 | 19,031 | | Wages/Sales (%) | 20.36 | 21.01 | 22.15 | 18.28 | 17.46 | | Profit per Employee
(£)
| 3,781 | 3,474 | -1,911 | 3,601 | 1,130 | | Sales per Employee
(£)
| 109,393 | 95,361 | 91,303 | 108,692 | 109,021 | | Capital Employed per Employee
(£)
| 172,530 | 154,793 | 155,207 | 153,243 | 158,264 | | Total Fixed Assets per Employee
(£)
| 159,429 | 146,614 | 149,603 | 147,320 | 155,217 | | Total Assets per Employee
(£)
| 200,512 | 175,880 | 174,254 | 171,324 | 174,551 | | Creditors/Debtors | 2.24 | 2.59 | 2.92 | 3.02 | 3.48 | | Debtors/Total Assets (%) | 2.40 | 1.94 | 1.58 | 1.51 | 1.12 | | Current Liabilities/Stocks | 2.42 | 2.09 | 1.88 | 1.68 | 1.69 | | Exports/Sales (%) | 3.21 | 2.95 | 2.99 | 2.58 | 2.78 | | Sales/Audit Fees | 1,121.00 | 1,445.67 | 1,417.33 | 1,737.26 | 1,800.67 | | Total Assets/ Audit Fees | 2,054.75 | 2,666.33 | 2,705.00 | 2,738.33 | 2,883.00 |
| | |
Growth Rates
| | | | 1 year
| 2 year
| 3 year
| 4 year
| | Turnover | 3.4 | 5.5 | -13.7 | -16.9 | | Pre-tax Profit | -1.9 | - | -10.0 | 175.9 | | Audit Fees | 33.3 | 33.3 | 33.3 | 33.2 | | Directors Remuneration | -20.8 | -15.0 | -41.7 | -6.0 | | Number of Employees | -9.9 | -12.0 | -14.5 | -17.2 | | Employees Remuneration | 0.2 | -3.1 | -4.1 | -3.2 | | Fixed Assets | -2.0 | -5.9 | -7.2 | -11.4 | | Tangible Assets | -2.0 | -5.9 | -7.2 | -14.7 | | Total Fixed Assets | -2.0 | -6.2 | -7.5 | -15.0 | | Stocks | 3.1 | 0.0 | -8.2 | -1.0 | | Trade Debtors | 27.1 | 53.9 | 58.9 | 102.6 | | Total Current Assets | 26.5 | 46.7 | 46.3 | 75.4 | | Total Assets | 2.8 | 1.3 | 0.0 | -4.9 | | Trade Creditors | 9.7 | 17.9 | 17.9 | 30.3 | | Short-Term Loans | 71.4 | 67.4 | 80.0 | 63.3 | | Total Current Liabilities | 19.6 | 29.3 | 32.3 | 41.9 | | Net Cash | 5.9 | 582.2 | 107.4 | 240.0 | | Shareholders Funds | -8.7 | -12.1 | -15.5 | -26.5 | | Net Worth | -8.7 | -11.5 | -14.9 | -26.0 | | Long-Term Loans | 9.1 | 7.4 | 7.8 | 10.3 | | Long-Term Liabilities | 9.9 | 8.3 | 9.1 | 11.9 | | Capital Employed | 0.5 | -2.2 | -3.8 | -9.8 |
| | |
Company/Industry Comparison
| | | | This comparison is based on the results of 3870 companies in the same industrial sector: 52120 Other retail sale in non-specialised stores | | | | | Company | Industry Averages | | | 29/01/2005 | Lower | Median | Upper | |
Performance
| | | | Profit/Sales (%) | 3.46 | 0.00 | 3.91 | 11.17 | | Profit/Capital Employed (%) | 2.19 | 1.21 | 16.73 | 81.82 | | Profit/Total Assets (%) | 1.89 | 0.00 | 6.76 | 25.00 | | Profit/Shareholders Funds (%) | 4.76 | 5.01 | 30.00 | 100.00 | | |
Turnover
| | | | Sales/Total Assets (%) | 54.56 | 116.60 | 216.77 | 372.00 | | Sales/Fixed Assets (%) | 0.69 | 2.14 | 3.75 | 11.84 | | Working Capital/Sales (%) | 11.98 | 15.36 | 1.22 | -10.71 | | Stock Turnover (days) | 38.50 | 121.00 | 52.00 | 26.00 | | Credit Period (days) | 16.04 | 8.52 | 0.00 | 0.00 | | Creditor Days | 35.90 | 29.22 | 11.70 | 0.00 | | |
Liquidity
| | | | Current Ratio | 1.47 | 0.63 | 1.06 | 1.82 | | Liquidity Ratio | 1.06 | 0.13 | 0.45 | 1.03 | | |
Gearing
| | | | Total Debt/Net Worth (%) | 113.76 | 100.00 | 49.46 | 7.24 | | Shareholders Funds/Total Assets | 0.40 | 0.11 | 0.33 | 0.61 | | Long Term Debt/Net Worth (%) | 111.55 | 34.95 | 2.72 | 0.00 | | Interest/Pre-interest Profit | 64.20 | 26.83 | 6.70 | 0.00 | | Total Debt/Working Capital | 6.90 | 2.13 | 0.62 | 0.05 | | |
Employee
| | | | Average Employee Remuneration
(£)
| 22,274 | 6,865 | 9,750 | 13,702 | | Wages/Sales (%) | 20.36 | 20.92 | 14.72 | 9.44 | | Profit per Employee
(£)
| 3,781 | 0 | 1,942 | 5,434 | | Sales per Employee
(£)
| 109,393 | 33,714 | 58,790 | 85,800 | | Capital Employed per Employee
(£)
| 172,530 | 3,500 | 16,792 | 45,250 | | Total Fixed Assets per Employee
(£)
| 159,429 | 2,000 | 13,000 | 35,537 | | Total Assets per Employee
(£)
| 200,512 | 17,581 | 32,810 | 69,169 | | |
Other
| | | | Creditors/Debtors | 2.24 | 1.38 | 4.00 | 12.21 | | Debtors/Total Assets (%) | 2.40 | 0.00 | 3.49 | 17.63 | | Current Liabilities/Stocks | 2.42 | 1.02 | 1.75 | 3.62 | | Exports/Sales (%) | 3.21 | 0.00 | 0.00 | 0.00 | | Sales/Audit Fees | 1,121.00 | 684.33 | 1,263.75 | 2,318.00 | | Total Assets/Audit Fees | 2,054.75 | 408.19 | 865.13 | 2,032.51 |
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Filing History
| | | | 12/02/2005 | Change among the directors of a company | | 15/04/2003 | Particulars of a mortgage or charge | | 29/03/2000 | Alteration in memorandum or articles of association | | 14/03/1997 | Resolutions or agreements to which section 380 applies (relating to shares, rights or names) | | 14/03/1997 | Returns of allotments of a public company | | 22/04/1995 | Memorandum of satisfaction | | 09/05/1994 | Memorandum of satisfaction | | 19/04/1994 | Mortgage document | | 21/03/1994 | Mortgage document | | 17/05/1993 | Mortgage document |
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