MIRA INFORM REPORT

Report Date :

10.05.2007

IDENTIFICATION DETAILS

Name :	POWERCORP INTERNATIONAL LTD

Registered Office :	34 Gresse Street, London, W1T 1QX

Country :	United Kingdom

Financials (as on) :	31.03.2005

Date of Incorporation :	10/03/2004

Com. Reg. No.:	05069961

Legal Form :	Private Limited Liability Company (GB)

Line of Business :	Motion picture and video production

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate

Payment Behaviour :	Unknown

Litigation :	Clear

Company Identification Details


Subject Reported on	POWERCORP INTERNATIONAL LTD
Holding Company	Powercorp International Holdings Ltd
Trading Address	Registered Address,34 GRESSE STREET,LONDON,W1T 1QX

Official Company Data


Legal Form	Private Limited Liability Company (GB)
Registration Number	05069961
Date of Incorporation	10/03/2004
Registered Office	34 Gresse Street, London, W1T 1QX
Date of Last Annual Return to Registry	06/03/2007
Accounts	The last filed accounts cover the period to 31/03/2006

Recently Filed Documents

Details of the most recent documents

Date Received	Description
06/03/2007	Annual Return
31/03/2006	Financial Statement / Set of Accounts

It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.

Known Directors

DIRECTOR

ELOISE TOOKE

(One or more of this director's other companies has adverse information related to it)

Occupation

MANAGING DIRECTOR

Address

60, IVERNA COURT , LONDON , W8 6TS

Country of Origin

BRITISH

Date of Birth

20/09/1973

Appointment Date

10/03/2004

Other Appointments

CHARACTER WAREHOUSE LTD., ALLTIME ENTERTAINMENT LTD , ALLTIME ENTERPRISES LTD , FILMTIME PRODUCTIONS LTD , HIGHTIME FILMS AND TELEVISION LIMITED, POWERCORP INTERNATIONAL LTD , POWERCORP INTERNATIONAL HOLDINGS LTD , POWERCORP PRODUCTIONS LTD , WILLOWDEANE ENTERPRISES LTD , POWERCORP DISTRIBUTION LTD , POWER STUDIOS INTERNATIONAL LTD , POWER TELEVISION ENTERPRISES LTD , WATERSHIP DOWN PRODUCTIONS (SERIES 3) LIMITED, THE FLOOD PRODUCTIONS LTD , THE FLOOD DISTRIBUTION LTD , PURE FILMS LTD , PURE TELEVISION LTD , PURE TV LIMITED

DIRECTOR

JUSTIN BODLE

Occupation

CHIEF EXECUTIVE OFFICER

Address

12, SEYMOUR WALK , LONDON , SW10 9NF

Country of Origin

BRITISH

Date of Birth

30/10/1960

Appointment Date

14/04/2004

Other Appointments

ALLTIME ENTERTAINMENT LTD , POWERCORP INTERNATIONAL LTD , POWERCORP INTERNATIONAL HOLDINGS LTD , POWERCORP PRODUCTIONS LTD , WILLOWDEANE ENTERPRISES LTD , POWERCORP DISTRIBUTION LTD , POWER STUDIOS INTERNATIONAL LTD , THE FLOOD PRODUCTIONS LTD , THE FLOOD DISTRIBUTION LTD , PURE FILMS LTD , PURE TELEVISION LTD , PURE TV LIMITED

SECRETARY

HAL MANAGEMENT LTD

Address

HANOVER HOUSE, 14 HANOVER SQUARE , LONDON , W1S 1HP

Country of Origin

Appointment Date

14/04/2004

Recently Resigned Directors (last 3)


DIRECTOR	JOHN HARRINGTON
Occupation	MANAGER
Address	11 , QUEENSGATE GARDENS , LONDON , - -
Country of Origin	BRITISH
Date of Birth	29/10/1961
Resignation Date	12/11/2004

Share Summary

Share information is not held for this company.

Mortgages and Charges


Total Registered	1
Total Outstanding	1
Total Satisfied	0
Most Recent Mortgage	18/11/2005


Date Registered	01/12/2005
Type	395
Date Created	18/11/2005
Lender	BARCLAYS BANK PLC
Secured On	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND/OR ALL OR ANY OF THE OTHER COMPANIES NAME 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 FIXTURES FIXED PLANT AND MACHINERY
Satisfied?	No

Public Record Information

Summary of CCJ's/Scottish Decrees

There are no unsatisfied CCJs against the company.

Operations


Sic Code	Description
9211	Motion picture and video production
Staff Employed
Auditors	KPMG Audit PLC
Auditors Notes	No Qualification. The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the latest accounts.

Financial Data

The following figures are shown in units of 000

Profit and Loss

Number of Weeks	52
Accounts Date	31/03/2005
Currency	GBP
Consolidated?	No
SALES	12,961
Export Sales	12,961
Cost of goods sold	7,539
GROSS PROFIT	5,422
General administration costs (-)	5,829
Wages and Salaries	1,408
Depreciation	2,401
Net Operating Profit(Loss)	-407
Non Trading Income	68
Total Non Trading Income	68
Interest expenses & similar (-)	2
Other financial charges	897
Financial Expenses	899
PRE TAX PROFIT	-1,238
Other Taxation	0
Taxation	58
PROFIT AFTER TAX	-1,296
Net Loss	1,296
Dividends Payable	0
RETAINED PROFITS

Balance Sheet

Number of Weeks	52
Accounts Date	31/03/2005
Currency	GBP
Consolidated?	No
TOTAL FIXED ASSETS	21,927
Plant, machinery & equipment	122
Intermediate Assets	542
Intangible Assets	21,263
TOTAL CURRENT ASSETS	27,815
Stocks	18,581
Trade Debtors	3,837
Other Receivables	323
Prepaid expenses	1,308
Group Loans	2,912
Cash	854
TOTAL ASSETS	49,742
TOTAL CURRENT LIABILITIES	42,244
Trade Creditors	1,895
Taxes	416
Other Current Liabilities	9
Due From Group	26,203
Accruals & deferred income	13,721
WORKING CAPITAL	-14,429
TOTAL LONG TERM LIABS	8,794
Other Long Term Liabilities	8,794
NET ASSETS/(LIABILITIES)	7,498
SHARE CAPITAL + RESERVES	-1,296
Profit and Loss account	-1,296
SHAREHOLDERS FUNDS	-1,296
CAPITAL EMPLOYED	7,498
TANGIBLE NET WORTH	-22,559

Key Credit Ratios

Accounts Date	31/03/2005
Current Ratio	0.66
Profit Before Tax	-0.10
Creditors Days (D.P.O)	91.75
Quick Ratio	-
Return on Assets	-4.43
T.N.W/Total Assets	-0.45
Return on Capital	0.09
Working Capital/Sales	-0.01
Equity Gearing	-0.03

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	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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%)

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