MIRA INFORM REPORT

Report Date :

03.10.2007

IDENTIFICATION DETAILS

Name :	KIDDE PRODUCTS LIMITED

Registered Office :	Mathisen Way, Colnbrook, Slough Berkshire SL3 0HB

Country :	United Kingdom

Financials (as on) :	31.12.2006

Date of Incorporation :	19/12/2002

Com. Reg. No.:	04622271

Legal Form :	Private Limited Liability Company (GB)

Line of Business :	Manufacturers of fire related products. Manufacture of other rubber products.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

Company Identification Details


Subject Reported on	KIDDE PRODUCTS LIMITED
Holding Company	Kidde (U K) Holdings Ltd
Ultimate Holding Company	United Technologies Corporation
Trading Address	THAME PARK RD,THAME,OX9 3RT

Telephone	01844-265000


Credit Limit	GBP 2,588,900
	Selling to this company? The Credit Limit is the recommended maximum outstanding debtor exposure at any one time.

Contract Limit	GBP 37,137,800
	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	04622271
Date of Incorporation	19/12/2002
Registered Office	Mathisen Way, Colnbrook, Slough Berkshire SL3 0HB
Date of Last Annual Return to Registry	19/12/2006
Activities	Manufacturers of fire related products
Accounts	The last filed accounts cover the period to 31/12/2006 and were filed on 02/07/2007

Recently Filed Documents

Details of the most recent documents

Date Received	Description
19/12/2006	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

DOMINIQUE TAMBORINI

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

Occupation

CHARTERED ACCOUNTANT

Address

4, RUE DU CONGO 75012 PARIS , FRANCE ,

Country of Origin

FRENCH

Date of Birth

04/10/1963

Appointment Date

01/04/2006

Other Appointments

CHUBB FIRE LIMITED, KIDDE FIRE PROTECTION SERVICES LIMITED, T G PRODUCTS LIMITED, KIDDE PRODUCTS LIMITED

DIRECTOR

SCOTT ALLEN BUCKHOUT

Occupation

DIRECTOR

Address

85, THE AVENUE DES PAGES , LE VESINET , FRANCE ,

Country of Origin

AMERICAN

Date of Birth

14/12/1966

Appointment Date

11/05/2007

Other Appointments

KIDDE PRODUCTS LIMITED

SECRETARY

MR ROBERT SADLER

Address

8 EDDISCOMBE ROAD, , LONDON , SW6 4UA

Country of Origin

BRITISH

Date of Birth

08/05/1967

Appointment Date

01/12/2005

Recently Resigned Directors (last 3)


DIRECTOR	ALEC NIGHTINGALE
Occupation	MANAGING DIRECTOR
Address	3 , SWAN LANE , BICESTER , OXON , - -
Country of Origin	BRITISH
Date of Birth	16/12/1945
Resignation Date	11/05/2007
DIRECTOR	CHRISTOPHER MILBURN
Occupation	MANAGING DIRECTOR
Address	MILLSTONE , HIGH STREET , KIDLINGTON , OXON , - -
Country of Origin	BRITISH
Date of Birth	05/08/1966
Resignation Date	15/03/2007
DIRECTOR	DAVID JAMES JOHNSTON
Occupation	FINANCE DIRECTOR
Address	33 , FRENSHAM VALE , FARNHAM , SURREY , - -
Country of Origin	BRITISH
Date of Birth	15/08/1956
Resignation Date	01/04/2006

Share Summary

Share information is not held for this company.

Mortgages and Charges

There are no mortgages

Public Record Information

Summary of CCJ's/Scottish Decrees

There are 1 exact unsatisfied CCJs totaling GBP 478 in the last 72 months

Details of most recent CCJ's/Scottish Decrees

15/02/2005, a Judgment of "GBP" 478 was made in NORTHAMPTON court (Case No. 5XH80457 ) against Kidde Fire Protection Services Ltd, R/o Mathisen Way Colnbrook, Slough, Berkshire, SL3 0HB

Operations


Activities	Manufacturers of fire related products
Sic Code	Description
2513	Manufacture of other rubber products
2956	Manufacture of other special purpose machinery not elsewhere classified
Staff Employed	999
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	202585
Bankers	HSBC Bank Plc
Sort Codes	401923
Bankers	HSBC Bank PLC
Sort Codes	401915

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	75,779	93,811	104,728	83,150
Export Sales	54,062	49,267	51,610	39,756
Cost of goods sold	53,995	62,346	68,579	54,926
GROSS PROFIT	21,784	31,465	36,149	28,224
Other Expenses	7,676	14,876	17,684	12,573
General administration costs (-)	11,457	13,336	15,166	10,893
Wages and Salaries	15,049	24,643	28,132	22,490
Depreciation	4,107	6,196	6,746	4,365
Net Operating Profit(Loss)	2,651	2,757	1,361	4,758
Non Trading Income	1	4	3	-
Total Non Trading Income	1	4	3	0
Interest expenses & similar (-)	3	9	7	19
Other financial charges	77	11,624	-	-
Financial Expenses	80	11,633	7	19
PRE TAX PROFIT	2,572	-8,872	1,357	4,739
Other Taxation	321	-1,046	23	8
Taxation	0	-6,942	1,866	2,016
PROFIT AFTER TAX	2,251	-884	-532	2,715
Net Profit	2,251	-	-	2,715
Dividends Payable	0	0	0	0
RETAINED PROFITS	2,251	-	-	2,715

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	77,787	81,259	80,952	79,846
Land & buildings	3,591	3,337	5,476	4,445
Plant, machinery & equipment	4,719	5,210	6,856	4,200
Intermediate Assets	24,037	24,037	454	411
Intangible Assets	45,440	48,675	68,166	70,790
TOTAL CURRENT ASSETS	44,280	42,221	46,165	42,193
Stocks	8,252	7,922	13,127	11,392
Trade Debtors	15,269	13,186	20,736	19,828
Other Receivables	1,379	875	667	167
Prepaid expenses	450	420	1,378	1,573
Group Loans	8,652	8,021	8,488	8,125
Cash	9,330	10,496	1,498	1,108
Tax Recoverable	948	1,301	271	-
TOTAL ASSETS	122,067	123,480	127,117	122,039
TOTAL CURRENT LIABILITIES	42,958	45,590	52,704	47,197
Trade Creditors	12,693	8,570	13,891	13,079
Taxes	437	475	1,566	2,331
Other Current Liabilities	1,223	847	673	311
Due From Group	27,965	35,019	35,209	29,706
Hire Purchase	6	22	14	28
Accruals & deferred income	634	657	1,351	1,742
WORKING CAPITAL	1,322	-3,369	-6,539	-5,004
TOTAL LONG TERM LIABS	245	1,277	730	627
Other Long Term Liabilities	245	1,277	730	627
NET ASSETS/(LIABILITIES)	79,109	77,890	74,413	74,842
SHARE CAPITAL + RESERVES	78,864	76,613	73,683	74,215
Issued Share Capital	71,500	71,500	71,500	71,500
Share Premium Accounts	1,081	1,081	-	-
Reserves	2,733	2,733	-	-
Profit and Loss account	3,550	1,299	2,183	2,715
SHAREHOLDERS FUNDS	78,864	76,613	73,683	74,215
CAPITAL EMPLOYED	79,109	77,890	74,413	74,842
TANGIBLE NET WORTH	33,424	27,938	5,517	3,425

Key Credit Ratios

Accounts Date	31/12/2006	31/12/2005	31/12/2004	31/12/2003
Current Ratio	1.03	0.93	0.88	0.89
Profit Before Tax	0.03	-0.09	0.01	0.06
Creditors Days (D.P.O)	85.80	50.17	73.93	86.91
Quick Ratio	-	-	-	-
Return on Assets	4.89	-17.48	2.32	9.32
T.N.W/Total Assets	0.27	0.23	0.04	0.03
Return on Capital	3.25	-11.39	1.82	6.33
Working Capital/Sales	0.00	0.00	0.00	0.00
Equity Gearing	1.36	0.22	0.08	0.05
Stock Turnover	0.01	0.01	0.01	0.01

Financial Summary

Turnover	Turnover decreased by more than 19% in the period. Turnover totaled GBP 75,779,000 for the period.
Operating Profit	Totaled GBP 2,651,000 In the period prior a profit of GBP 2,757,000 was achieved.
Pre Tax	The subject made a profit of GBP 2,572,000 compared with a loss of GBP 8,872,000 in the previous period.
Working Capital	The company's working capital improved in the period by -139%
Tangible Net Worth	Net worth increased by 5,486,000 during the period and now stands at GBP 33,424,000
Fixed Assets	The subjects fixed assets reduced during the period by GBP 237,000 to GBP 8,310,000 and are now 7% of total assets compared with 7% in the previous period
Long Term Liabilities	The company's long term liabilities reduced during the period by 55% and are now 3% of net worth compared with 7% in the previous period
Long Term Liabilities	Long term liabilities are now 1% of total assets compared with 2% 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