MIRA INFORM REPORT

Report Date :

13.10.2007

IDENTIFICATION DETAILS

Name :	TAISON LIGHTING LIMITED
Registered Office :	Horton Ind Pk, Great Horton Rd, Bradford, W Yorks BD7 4EN
Country :	United Kingdom
Financials (as on) :	31.12.2006
Date of Incorporation :	25/11/2002
Com. Reg. No.:	04599759
Legal Form :	Private Limited Liability Company (GB)
Line of Business :	Manufactures of industrial lighting

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 :	No Complaints
Litigation :	Clear

Company Identification Details

Subject Reported on	TAISON LIGHTING LIMITED
Telephone	01274-521550
Registered Office	Horton Ind Pk, Great Horton Rd, Bradford, W Yorks BD7 4EN

	Above Average Risk - Assurances in the form of guarantees may be necessary especially if the Credit Limit assigned is required to be exceeded
Credit Limit	GBP   2,300
	Selling to this company? The Credit Limit is the recommended maximum outstanding debtor exposure at any one time.
Contract Limit	GBP   2,300
	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	04599759
Date of Incorporation	25/11/2002
Registered Office	Horton Ind Pk, Great Horton Rd, Bradford, W Yorks BD7 4EN
Date of Last Annual Return to Registry	25/11/2006
Activities	Manufactures of industrial lighting
Accounts	The last filed accounts cover the period to 31/12/2006 and were filed on 26/03/2007

Recently Filed Documents

Details of the most recent documents

Date Received	Description
25/11/2006	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	JAGDISH  TAILOR
Occupation	DIRECTOR
Address	HIGHFIELD PARSONS ROAD ,  HEATON , BRADFORD , WEST YORKSHIRE , BD9 4DW
Country of Origin	BRITISH
Date of Birth	16/05/1960
Appointment Date	12/12/2002
Other Appointments	TAISON LIGHTING LIMITED, J.V.N.PROPERTIES LIMITED, SOURCE BIZ LIMITED
DIRECTOR	DAVID MARK SLADDIN
Occupation	DIRECTOR
Address	39,  CATHERINE STREET , ELLAND , WEST YORKSHIRE , HX5 0EZ
Country of Origin	BRITISH
Date of Birth	01/12/1963
Appointment Date	12/12/2002
Other Appointments	LIGHTNING TRANSPORT GROUP (YORK) LIMITED, LIGHTNING TRANSPORT GROUP LIMITED, TAISON HOLDINGS LIMITED, HM METAL FINISHING LIMITED, TAISON LIGHTING LIMITED, J.V.N.PROPERTIES LIMITED
SECRETARY	MR  DAVID SLADDIN
Address	39 CATHERINE STREET,  , ELLAND , WEST YORKSHIRE , HX5 0EZ
Country of Origin	BRITISH
Date of Birth	01/12/1963
Appointment Date	12/12/2002

Recently Resigned Directors (last 3)

DIRECTOR	MICHAEL  HOLMES
Occupation	ACCOUNTANT
Address	NORTH HOUSE , ELLAND ROAD , LEEDS , - -
Country of Origin	BRITISH
Date of Birth	16/11/1949
Resignation Date	01/01/2003
DIRECTOR	ANDREW  CASTLE
Occupation	LAWYER
Address	NORTH HOUSE , ELLAND ROAD , LEEDS , - -
Country of Origin	BRITISH
Date of Birth	01/02/1952
Resignation Date	01/01/2003
DIRECTOR	YORK PLACE COMPANY NOMINEES LIMITED  -
Address	12 , YORK PLACE , LEEDS , - -
Resignation Date	05/12/2002

Share Summary

Priniciple Shareholders:	Type Of Share	No. of Shares	Value	%age
Jagdish Tailor				100.00

Mortgages and Charges

Total Registered	2
Total Outstanding	2
Total Satisfied	0
Most Recent Mortgage	06/01/2003

Date Registered	09/01/2003
Type	395
Date Created	06/01/2003
Lender	THE ROYAL BANK OF SCOTLAND 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
Date Registered	02/01/2003
Type	395
Date Created	18/12/2002
Lender	EURO SALES FINANCE PLC
Secured On	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details	FIXED CHARGE OVER ALL BOOK AND OTHER DEBTS PRESENT AND FUTURE AND THE BENEFIT OF ALL CONTRACTS AND POLICIES OF INSURANCE AND BY WAY OF FLOATING CHARGE THE UNDERTAKING AND ALL PROPERTY ASSETS AND RIGHTS OF THE COMPANY PRESENT AND FUTURE
Satisfied?	No

Public Record Information

Summary of CCJ's/Scottish Decrees

There are 1 exact unsatisfied CCJs totalling GBP 6362 in the last 72 months

Details of most recent CCJ's/Scottish Decrees

01/03/2005, a Judgment of "GBP" 6362 was made in YORK court (Case No. 5YO00558 ) against Taison Lighting Ltd, Horton Indstl Pk, Gt Horton Rd, Bradford, West Yorkshire, BD7 4EN

Operations

Activities	Manufactures of industrial lighting
Sic Code	Description
3150	Manufacture of lighting equipment and electric lamps
Staff Employed	15
Auditors	Haywood & Co
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	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
GROSS PROFIT	565	-	-	-
Other Expenses	75	-	-	-
General administration costs (-)	282	-	-	-
Wages and Salaries	142	-	-	-
Depreciation	35	-	-	-
Net Operating Profit(Loss)	208	-	-	-
Total Non Trading Income	0	-	-	-
Interest expenses & similar (-)	35	-	-	-
Financial Expenses	35	-	-	-
PRE TAX PROFIT	173	-	-	-
Other Taxation	2	-	-	-
Taxation	34	-	-	-
PROFIT AFTER TAX	137	-	-	-
Net Profit	137	-	-	-
Dividends Payable	29	-	-	-
RETAINED PROFITS	108	-	-	-

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	329	364	456	476
Plant, machinery & equipment	62	-	-	-
Intangible Assets	267	299	325	325
TOTAL CURRENT ASSETS	764	622	510	625
Stocks	393	234	238	249
Trade Debtors	365	383	270	366
Prepaid expenses	5	-	-	-
Cash	2	4	2	10
TOTAL ASSETS	1,093	986	966	1,101
TOTAL CURRENT LIABILITIES	991	990	1,140	1,132
Trade Creditors	321	-	-	-
Bank Overdraft	61	-	-	-
Loans From Principals	264	-	-	-
Taxes	43	-	-	-
Other Current Liabilities	293	990	1,140	1,132
Hire Purchase	3	-	-	-
Accruals & deferred income	6	-	-	-
WORKING CAPITAL	-226	-368	-630	-506
TOTAL LONG TERM LIABS	3	4	6	7
Taxation	3	-	-	-
NET ASSETS/(LIABILITIES)	103	-5	-174	-30
SHARE CAPITAL + RESERVES	100	-8	-179	-37
Issued Share Capital	8	8	8	8
Profit and Loss account	92	-16	-187	-45
SHAREHOLDERS FUNDS	100	-8	-179	-37
CAPITAL EMPLOYED	103	-4	-173	-30
TANGIBLE NET WORTH	-168	-307	-505	-363

Key Credit Ratios

Accounts Date	31/12/2006	31/12/2005	31/12/2004	31/12/2003
Current Ratio	0.77	0.63	0.45	0.55
Quick Ratio	0.37	0.39	0.24	0.33
Return on Assets	20.94	-	-	-
T.N.W/Total Assets	-0.15	-0.31	-0.52	-0.33
Return on Capital	167.96	-	-	-
Equity Gearing	-0.56	-0.77	-0.84	-0.52

Financial Summary

Working Capital	The company's working capital deficiency decreased in the period and now stands at GBP  226,000
Tangible Net Worth	Net worth increased by 139,000 during the period and now stands at GBP  -168,000
Fixed Assets	The subjects fixed assets reduced during the period by GBP  3,000 to GBP  62,000 and are now 6% of total assets compared with 7% in the previous period
Long Term Liabilities	The company's long term liabilities increased during the period by 125% and are now -5% of net worth compared with -1% in the previous period
Long Term Liabilities	Long term liabilities are now 1% of total assets compared with 0% 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