MIRA INFORM REPORT

Report Date :

10.05.2007

IDENTIFICATION DETAILS

Name :	COLUMBIA PICTURES CORPORATION LTD
Registered Office :	Sony Pictures Europe House, 25 Golden Square, London, W1F 9LU
Country :	United Kingdom
Financials (as on) :	31.03.2006
Date of Incorporation :	17/09/1929
Com. Reg. No.:	00242372
Legal Form :	Private Limited Liability Company (GB)
Line of Business :	Motion picture distribution and production.

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Unknown
Litigation :	Clear

Company Identification Details

Subject Reported on	COLUMBIA PICTURES CORPORATION LTD
Holding Company	SONY MUSIC ENTERTAINMENT U K GROUP LTD
Ultimate Holding Company	SONY CORPORATION IN JAPAN (D-U-N-S 69-055-3649)
Trading Address	Europe Ho,25 Golden Sq,LONDON,W1F 9LS
Telephone	020-7533-1000

Official Company Data

Legal Form	Private Limited Liability Company (GB)
Registration Number	00242372
Date of Incorporation	17/09/1929
Registered Office	Sony Pictures Europe House, 25 Golden Square, London, W1F 9LU
Date of Last Annual Return to Registry	20/11/2006
Activities	Motion picture distribution and production.
Accounts	The last filed accounts cover the period to 31/03/2006

Recently Filed Documents

Details of the most recent documents

Date Received	Description
20/11/2006	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	ANTONY BRIAN ROBERTSON  (One or more of this director's other companies has adverse information related to it)
Occupation
Address	10,  COVAL GARDENS EAST SHEEN , LONDON , SW14 7DG
Country of Origin	BRITISH
Date of Birth	04/09/1956
Appointment Date	21/11/1994
Other Appointments	FILMBANK DISTRIBUTORS LIMITED, COLUMBIA PICTURES CORPORATION LTD, SONY PICTURES HOME ENTERTAINMENT LTD , COLGEMS PRODUCTIONS LTD , FILMBANK LTD , COLUMBIA VIDEO EUROPE LTD , BONNIE FILMS LTD , LINA PRODUCTIONS LTD , KLPS FILM PRODUCTIONS LTD , SHELLEY FILMS LTD , HOOFBEATS PRODUCTIONS LTD , POINT PRODUCTIONS LTD , COLUMBIA TRISTAR CINEMA CLUB LTD , OBELISK PRODUCTIONS LIMITED, UTHER PENDRAGON FILM PRODUCTIONS LTD , SONY SIGNATURES (EUROPE) LTD , ROSE LINE PRODUCTIONS LTD , THE BRIDGE FILM PRODUCTION COMPANY LIMITED, THE BRIDGE INVESTMENT COMPANY LIMITED, SONY PICTURES TELEVISION PRODUCTION UK LIMITED, SET INDIA PRODUCTIONS LTD , SONY CINEMA PRODUCTS EUROPE LTD , BOLEYN PRODUCTIONS LTD , SET ASIA LTD , VIRTUAL SEXUALITY PRODUCTIONS LTD , I DREAMED OF AFRICA LTD , LOST LAMBS PRODUCTIONS UK LIMITED, WAVELAND PICTURES LTD , BEN-SET LTD , SPE ITALY LTD , SPD WIRELESS EUROPE LTD , BESPOKE PRODUCTIONS LTD , SCREEN MUSIC UK LTD , IRIS PRODUCTIONS LTD , SPE DIBS INVESTMENTS LTD , SPD EUROPE LTD , SPE FINANCE ENTERPRISES LTD , SUPERCOMM EUROPE LTD , SOE EUROPE LTD , AXN EUROPE LTD , INDUSTRY TRUST FOR IP AWARENESS LTD , AXN NORTHERN EUROPE LTD , EAT CINEMA LTD , AXN SOUTHERN EUROPE LTD , HOLLISTON PRODUCTIONS LTD , EASTERN EUROPEAN HOLDINGS LTD
DIRECTOR	JEFFREY VINCENT BLAKE
Occupation	PRESIDENT WORLDWIDEDISTRIBUTI
Address	5567,  VISTA CANADA PLACE LA CANADA , CALIFORNIA , USA ,
Country of Origin	AMERICAN
Date of Birth	28/08/1952
Appointment Date	25/07/2000
Other Appointments	COLUMBIA PICTURES CORPORATION LTD, EASTERN EUROPEAN HOLDINGS LTD
DIRECTOR	MARK LEWIS ZUCKER
Occupation	EXECUTIVE VICE PRESIDENT
Address	2218,  CAREFUL AVENUE AGOURA , CALIFORNIA 91301 , USA ,
Country of Origin	AMERICAN
Date of Birth	04/09/1948
Appointment Date	01/07/2000
Other Appointments	COLUMBIA PICTURES CORPORATION LTD, EASTERN EUROPEAN HOLDINGS LTD
DIRECTOR	PAUL DONALD SMITH
Occupation	ENTERTAINMENT EXECUTIVE
Address	1250,  LA COLLINA DRIVE BEVERLY HILLS , CALIFORNIA , USA ,
Country of Origin	AMERICAN
Date of Birth	04/12/1957
Appointment Date	14/01/2002
Other Appointments	COLUMBIA PICTURES CORPORATION LTD
DIRECTOR	PETER  TAYLOR
Occupation	MANAGING DIRECTOR
Address	23,  ANLABY ROAD , TEDDINGTON , MIDDX , TW11 0PT
Country of Origin	BRITISH
Date of Birth	30/06/1962
Appointment Date	21/08/2006
Other Appointments	FILMBANK DISTRIBUTORS LIMITED, KRS FILM DISTRIBUTORS LTD , COLUMBIA PICTURES CORPORATION LTD
SECRETARY	MR  ANTONY ROBERTSON
Address	10 COVAL GARDENS,  EAST SHEEN , LONDON , SW14 7DG
Country of Origin	BRITISH
Date of Birth	04/09/1956
Appointment Date	01/09/1997

Recently Resigned Directors (last 3)

DIRECTOR	RICHARD MAURICE NAPPER
Occupation	FILM EXECUTIVE
Address	38 , LYNCROFT MANSIONS , LONDON , - -
Country of Origin	BRITISH
Date of Birth	01/02/1956
Resignation Date	30/10/2006
DIRECTOR	JOHN BARRY MCMAHON
Occupation	MANAGING DIRECTOR
Address	12 , HALL GATE , LONDON , - -
Country of Origin	IRISH AMERICAN
Date of Birth	12/07/1957
Resignation Date	07/12/2005
DIRECTOR	MR ALAN KEITH PRITCHARD
Occupation	EXECUTIVE
Address	22 , LEDBOROUGH LANE , BEACONSFIELD , BUCKS , - -
Country of Origin	BRITISH
Date of Birth	14/11/1941
Resignation Date	31/03/2003

Share Summary

Share information is not held for this company.

Mortgages and Charges

Total Registered	1
Total Outstanding	0
Total Satisfied	1
Most Recent Mortgage	06/05/1977

Date Created	06/05/1977
Satisfied?	Fully

Public Record Information

Summary of CCJ's/Scottish Decrees

There are no unsatisfied CCJs against the company.

Operations

Activities	Motion picture distribution and production.
Sic Code	Description
9211	Motion picture and video production
9212	Motion picture and video distribution
Staff Employed	400
Auditors	PricewaterhouseCoopers LLP
Auditors Notes	No Qualification. The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the latest accounts.
Bankers	Barclays Bank PLC
Sort Codes	203647

Financial Data

The following figures are shown in units of 000

Profit and Loss

Number of Weeks	52	52	52	52
Accounts Date	31/03/2006	31/03/2005	31/03/2004	31/03/2003
Currency	GBP	GBP	GBP	GBP
Consolidated?	No	No	No	No
SALES	85,845	82,709	59,314	81,049
Other operating income	17,259	15,176	13,784	11,974
Cost of goods sold	85,845	82,709	59,314	81,049
GROSS PROFIT	0	0	0	0
General administration costs (-)	14,090	13,488	12,157	12,535
Wages and Salaries	8,923	8,133	7,044	5,826
Depreciation	121	134	126	166
Net Operating Profit(Loss)	3,169	612	75	-561
Non Trading Income	148	63	51	238
Group Non Trading Income	2,631	1,613	735	1,032
Total Non Trading Income	2,779	1,676	846	1,270
Interest expenses & similar (-)	25	65	40	46
Other financial charges	413	298	53	26
Financial Expenses	438	363	93	72
PRE TAX PROFIT	5,510	1,925	828	637
Other Taxation	-572	15	-5	-38
Taxation	910	689	449	248
PROFIT AFTER TAX	5,172	1,221	384	427
Net Profit	5,172	1,221	384	427
Dividends Payable	0	0	0	0
RETAINED PROFITS	5,172	1,221	384	427

Balance Sheet

Number of Weeks	52	52	52	52
Accounts Date	31/03/2006	31/03/2005	31/03/2004	31/03/2003
Currency	GBP	GBP	GBP	GBP
Consolidated?	No	No	No	No
TOTAL FIXED ASSETS	1,816	1,306	253	224
Plant, machinery & equipment	229	119	186	224
Intermediate Assets	1,587	1,187	67
TOTAL CURRENT ASSETS	150,938	111,444	81,680	70,885
Trade Debtors	32,216	28,247	18,833	31,547
Other Receivables	1,482	233	2,339	1,037
Prepaid expenses	2	1,843	47	745
Group Loans	115,512	75,589	59,197	37,108
Cash	1,726	3,619	1,264	448
TOTAL ASSETS	152,754	112,750	81,933	71,109
TOTAL CURRENT LIABILITIES	134,836	101,522	72,441	64,396
Trade Creditors	12,310	7,021	6,155	9,557
Bank Overdraft	143	266	1,478
Taxes	1,840	1,786	1,582	1,874
Due From Group	111,004	74,513	49,449	41,059
Accruals & deferred income	9,539	17,935	13,719	11,843
WORKING CAPITAL	16,102	9,922	9,239	6,489
TOTAL LONG TERM LIABS	10,847	2,910	2,395	0
Other Long Term Liabilities	10,847	2,910	2,395
NET ASSETS/(LIABILITIES)	17,918	11,228	9,492	6,713
SHARE CAPITAL + RESERVES	7,071	8,318	7,097	6,713
Issued Share Capital	25	25	25	25
Profit and Loss account	7,046	8,293	7,072	6,688
SHAREHOLDERS FUNDS	7,071	8,318	7,097	6,713
CAPITAL EMPLOYED	17,918	11,228	9,492	6,713
TANGIBLE NET WORTH	7,071	8,318	7,097	6,713

Key Credit Ratios

Accounts Date	31/03/2006	31/03/2005	31/03/2004	31/03/2003
Current Ratio	1.12	1.10	1.13	1.10
Profit Before Tax	0.06	0.02	0.01	0.01
Creditors Days (D.P.O)	52.34	30.98	37.88	43.04
Quick Ratio	-	-	-	-
Return on Assets	3.64	1.73	1.01	0.90
T.N.W/Total Assets	0.05	0.07	0.09	0.09
Return on Capital	0.34	0.19	0.09	0.09
Working Capital/Sales	0.00	0.00	0.00	0.00
Equity Gearing	0.01	0.03	0.03	-
Stock Turnover	0.00	0.00	0.00	0.00

Financial Summary

Turnover	Turnover increased by more than 4% in the period. Turnover totaled GBP  85,845,000 for the period.
Operating Profit	Totaled GBP  3,169,000 In the period prior a profit of GBP   612,000 was achieved.
Pre Tax	The subject made a profit of GBP  5,510,000 compared with a profit of GBP  1,925,000 in the previous period.
Working Capital	The company's working capital improved in the period by 62%
Tangible Net Worth	Net worth reduced by 1,247,000 during the period and now stands at GBP  7,071,000
Fixed Assets	The subjects fixed assets increased during the period by GBP  110,000 to GBP  229,000 and are now 0% of total assets compared with 0% in the previous period
Long Term Liabilities	The company's long term liabilities reduced during the period by 2% and are now 288% of net worth compared with 251% in the previous period
Long Term Liabilities	Long term liabilities are now 13% of total assets compared with 18% in the previous period

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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