MIRA INFORM REPORT

Report Date :

12.11.2007

IDENTIFICATION DETAILS

Name :	MPI (HOLDINGS) LIMITED
Registered Office :	12/13 Ship Street, Brighton, East Sussex BN1 1AD
Country :	United Kingdom
Financials (as on) :	31.12.2006
Date of Incorporation :	10/11/1998
Com. Reg. No.:	03664880
Legal Form :	Private Limited Liability Company (GB)
Line of Business :	Seafood wholesalers

RATING & COMMENTS

MIRA’s Rating :

A

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear

Company Identification Details

Subject Reported on	MPI (HOLDINGS) LIMITED
Ultimate Holding Company	M P I (HOLDINGS) LTD
Trading Address	BOOKERS VINEYARD , FOXHOLE LA,BOLNEY,HAYWARDS HEATH,RH17 5NB
Telephone	01444-881091

	Low Risk - There is a high degree of confidence this company will prove good for the assigned Credit Limit
Credit Limit	GBP   38,100
	Selling to this company? The Credit Limit is the recommended maximum outstanding debtor exposure at any one time.
Contract Limit	GBP   269,300
	Buying from this company? The Contract Limit is the recommended aggregate annual value for supply contracts.

Official Company Data

Legal Form	Private Limited Liability Company (GB)
Registration Number	03664880
Date of Incorporation	10/11/1998
Registered Office	12/13 Ship Street, Brighton, East Sussex BN1 1AD
Date of Last Annual Return to Registry	10/11/2006
Activities	Seafood wholesalers
Accounts	The last filed accounts cover the period to 31/12/2006 and were filed on 02/04/2007

Recently Filed Documents

Details of the most recent documents

Date Received	Description
10/11/2006	Annual Return
31/12/2006	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	MARK  PRATT
Occupation	SEAFOOD TRADER
Address	ROSEMOUNT ,  NORTH BANK , HASSOCKS , WEST SUSSEX , BN6 8JG
Country of Origin	BRITISH
Date of Birth	13/01/1970
Appointment Date	10/11/1998
Other Appointments	MARINE PRODUCTS INTERNATIONAL LIMITED, MPI (HOLDINGS) LIMITED, BOOKERS VINEYARD LIMITED, M.P.I. SEAFOOD LIMITED
DIRECTOR	RODNEY VINCE PRATT
Occupation	RUBBER TRADER
Address	BOOKERS VINEYARD ,  FOXHOLE LANE BOLNEY , HAYWARDS HEATH , WEST SUSSEX , RH17 5NB
Country of Origin	BRITISH
Date of Birth	08/04/1942
Appointment Date	10/11/1998
Other Appointments	CHICHESTER DIOCESAN ASSOCIATION FOR FAMILY SUPPORT WORK, MPI (HOLDINGS) LIMITED, THE ASSOCIATION OF THE INTERNATIONAL RUBBER TRADE LIMITED, BOOKERS VINEYARD LIMITED, BOOKERS VINEYARD (EVENTS) LIMITED
SECRETARY	MR  MARK PRATT
Address	ROSEMOUNT,  NORTH BANK , HASSOCKS , WEST SUSSEX , BN6 8JG
Country of Origin	BRITISH
Date of Birth	13/01/1970
Appointment Date	10/11/1998

Recently Resigned Directors (last 3)

None

Share Summary

Shareholder Name	Percentage
Mark Gordon Pratt	50.00%
Rodney Vince Pratt	50.00%

Mortgages and Charges

Total Registered	1
Total Outstanding	1
Total Satisfied	0
Most Recent Mortgage	23/02/2006

Date Registered	01/03/2006
Type	395
Date Created	23/02/2006
Lender	BARCLAYS BANK PLC
Secured On	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY 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

Activities	Seafood wholesalers
Sic Code	Description
5138	Wholesale of other food including fish, crustaceans and molluscs
Staff Employed	3
Auditors	John A. Tuffin & Co
Auditors Notes	No Qualification. The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the latest accounts.
Bankers	HSBC Bank PLC
Sort Codes	402433

Financial Data

The following figures are shown in units of 000

Profit and Loss

Number of Weeks	52	52	52	52
Accounts Date	31/12/2006	31/12/2005	31/12/2004	31/12/2003
Currency	GBP	GBP	GBP	GBP
Consolidated?	No	No	No	No
SALES	4,073	2,122	-	1,426
Other operating income	22	37	-	-
Cost of goods sold	3,809	1,992	-	1,290
GROSS PROFIT	264	130	-	136
General administration costs (-)	112	55	-	87
Wages and Salaries	31	35	-	-
Depreciation	2	1	-	-
Net Operating Profit(Loss)	174	112	-	50
Non Trading Income	1	0	-	0
Total Non Trading Income	1	0	-	0
Interest expenses & similar (-)	9	4	-	1
Financial Expenses	9	4	-	1
PRE TAX PROFIT	166	108	-	49
Other Taxation	0	0	-	0
Taxation	41	22	-	9
PROFIT AFTER TAX	125	86	-	39
Net Profit	125	86	-	39
Dividends Payable	0	0	-	0
RETAINED PROFITS	125	86	-	39

Balance Sheet

Number of Weeks	52	52	52	52
Accounts Date	31/12/2006	31/12/2005	31/12/2004	31/12/2003
Currency	GBP	GBP	GBP	GBP
Consolidated?	No	No	No	No
TOTAL FIXED ASSETS	12	2	2	0
Plant, machinery & equipment	12	2	-	-
TOTAL CURRENT ASSETS	556	301	384	172
Trade Debtors	167	276	156	30
Other Receivables	16	11	-	51
Prepaid expenses	29	-	-	-
Cash	330	14	228	90
Tax Recoverable	15	-	-	-
TOTAL ASSETS	569	302	385	172
TOTAL CURRENT LIABILITIES	266	124	235	75
Trade Creditors	20	18	-	-
Bank Overdraft	43	1	-	2
Loans From Principals	37	37	-	40
Taxes	41	9	-	28
Other Current Liabilities	100	-	235	-
Accruals & deferred income	24	10	-	5
WORKING CAPITAL	291	176	148	97
TOTAL LONG TERM LIABS	0	0	0	0
NET ASSETS/(LIABILITIES)	303	178	150	97
SHARE CAPITAL + RESERVES	303	178	150	97
Issued Share Capital	50	50	50	50
Profit and Loss account	253	128	100	47
SHAREHOLDERS FUNDS	303	178	150	97
CAPITAL EMPLOYED	303	178	150	97
TANGIBLE NET WORTH	303	178	150	97

Key Credit Ratios

Accounts Date	31/12/2006	31/12/2005	31/12/2004	31/12/2003
Current Ratio	2.09	2.43	1.63	2.29
Profit Before Tax	0.04	0.05	-	0.03
Creditors Days (D.P.O)	1.92	3.30	-	-
Quick Ratio	-	2.43	-	-
Return on Assets	29.23	35.64	-	-
T.N.W/Total Assets	0.53	0.59	0.39	0.56
Return on Capital	54.79	60.67	-	50.52
Working Capital/Sales	0.00	0.00	-	0.00
Stock Turnover	0.00	0.00	-	0.00

Financial Summary

Turnover	Turnover increased by more than 92% in the period. Turnover totaled GBP  4,073,000 for the period.
Operating Profit	Totaled GBP  174,000 In the period prior a profit of GBP   112,000 was achieved.
Pre Tax	The subject made a profit of GBP  166,000 compared with a profit of GBP  108,000 in the previous period.
Working Capital	The company's working capital improved in the period by 65%
Tangible Net Worth	Net worth increased by 125,000 during the period and now stands at GBP  303,000
Fixed Assets	The subjects fixed assets increased during the period by GBP  10,000 to GBP  12,000 and are now 2% of total assets compared with 1% in the previous period
Long Term Liabilities	The company's long term liabilities increased during the period by 140% and are now 8% of net worth compared with 6% in the previous period
Long Term Liabilities	Long term liabilities are now 4% of total assets compared with 3% 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.	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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions