MIRA INFORM REPORT

Report Date :

25.10.2007

IDENTIFICATION DETAILS

Name :	THE JAMES ALLOY CO LTD

Registered Office :	9 Riverside, Waters Meeting Road, Bolton, Lancashire BL1 8TU

Country :	United Kingdom

Financials (as on) :	30.04.2006

Date of Incorporation :	13/02/2003

Com. Reg. No.:	04665197

Legal Form :	Private Limited Liability Company (GB)

Line of Business :	Metal traders Wholesale of metals and metal ores

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Company

Payment Behaviour :	No Complaints

Litigation :	Clear

Company Identification Details


Subject Reported on	THE JAMES ALLOY CO LTD
Trading Address	MONTON HOUSE,MONTON,MANCHESTER,M3O 9LE

Telephone	01612-816003


	Average Risk - This company has an average risk status and should be treated with a degree of caution

Credit Limit	GBP 600
	Selling to this company? The Credit Limit is the recommended maximum outstanding debtor exposure at any one time.

Contract Limit	GBP 5,300
	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	04665197
Date of Incorporation	13/02/2003
Registered Office	9 Riverside, Waters Meeting Road, Bolton, Lancashire BL1 8TU
Date of Last Annual Return to Registry	13/02/2007
Activities	Metal traders
Accounts	The last filed accounts cover the period to 30/04/2006 and were filed on 08/05/2007

Recently Filed Documents

Details of the most recent documents

Date Received	Description
13/02/2007	Annual Return
30/04/2006	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 GRANGE CATLOW

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

Occupation

DIRECTOR

Address

MONTON HOUSE , NONTON , MANCHESTER , M30 9LE

Country of Origin

BRITISH

Date of Birth

23/04/1967

Appointment Date

18/02/2003

Other Appointments

M.G.C. METALS LIMITED, HOWARTH CUTTING SERVICES LTD, HOWARTH CUTTING SERVICES LTD, INVEGA LTD, THE JAMES ALLOY CO LTD

DIRECTOR

JOHN TIMOTHY LAMB

Occupation

DIRECTOR

Address

53, GRANGE DRIVE MONTON , MANCHESTER , M30 9JS

Country of Origin

BRITISH

Date of Birth

07/05/1972

Appointment Date

09/01/2007

Other Appointments

THE JAMES ALLOY CO LTD

SECRETARY

MR MARK CATLOW

Address

MONTON HOUSE, NONTON , MANCHESTER , M30 9LE

Country of Origin

BRITISH

Date of Birth

23/04/1967

Appointment Date

15/02/2007

Recently Resigned Directors (last 3)

None

Share Summary


Principle Shareholders:	Type Of Share	No. of Shares	Value	%age
M G Catlow				50.00
M Catlow				50.00

Mortgages and Charges


Total Registered	2
Total Outstanding	2
Total Satisfied	0
Most Recent Mortgage	12/02/2007


Date Registered	14/02/2007
Type	395
Date Created	12/02/2007
Lender	BIBBY FINANCIAL SERVICES LIMITED
Secured On	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
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 SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Satisfied?	No

Date Registered	24/09/2004
Type	395
Date Created	17/09/2004
Lender	BIBBY FACTORS NORTHWEST LIMITED
Secured On	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details	(i) BY WAY OF FIXED CHARGE ANY PRESENT OR FUTURE DEBT THE OWNERSHIP OF WHICH FAIL TO VEST ABSOLUTELY AND EFFECTIVELY IN THE SECURITY HOLDER FOR ANY REASON TOGETHER WITH THE RELATED RIGHTS (THE FACTORED DEBTS) AND (ii) ALL AMOUNTS OF INDEBTEDNESS DUE TO THE COMPANY ON ANY ACCOUNT WHATSOEVER OTHER THAN THE FACTORED DEBTS (THE OTHER DEBTS).BY WAY OF FLOATING CHARGE ALL THE UNDERTAKING AND ALL THE PROPERTY RIGHTS AND ASSETS
Satisfied?	No

Public Record Information

Summary of CCJ's/Scottish Decrees

There are no unsatisfied CCJs against the company.

Operations


Activities	Metal traders
Sic Code	Description
5152	Wholesale of metals and metal ores
Staff Employed	10
Auditors	Davies & 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
Accounts Date	30/04/2006	30/04/2005	30/04/2004
Currency	GBP	GBP	GBP
Consolidated?	No	No	No
RETAINED PROFITS	-	-	-

Balance Sheet

Number of Weeks	52	52	52
Accounts Date	30/04/2006	30/04/2005	30/04/2004
Currency	GBP	GBP	GBP
Consolidated?	No	No	No
TOTAL FIXED ASSETS	20	3	3
Total Fixed Assets	20	3	3
TOTAL CURRENT ASSETS	278	243	63
Stocks	76	45	23
Trade Debtors	202	196	-
Cash	0	2	40
TOTAL ASSETS	298	247	66
TOTAL CURRENT LIABILITIES	272	219	45
Other Current Liabilities	272	219	45
WORKING CAPITAL	6	25	18
TOTAL LONG TERM LIABS	14	0	0
Other Long Term Liabilities	14	-	-
NET ASSETS/(LIABILITIES)	26	28	21
SHARE CAPITAL + RESERVES	12	28	21
Issued Share Capital	0	0	0
Profit and Loss account	12	28	21
SHAREHOLDERS FUNDS	12	28	21
CAPITAL EMPLOYED	26	28	21
TANGIBLE NET WORTH	12	28	21

Key Credit Ratios

Accounts Date	30/04/2006	30/04/2005	30/04/2004
Current Ratio	1.02	1.11	1.40
Quick Ratio	0.74	0.90	0.89
T.N.W/Total Assets	0.04	0.11	0.32
Equity Gearing	0.01	-	-

Financial Summary

Working Capital	The company's working capital decreased in the period by 76%
Tangible Net Worth	Net worth reduced by 16,000 during the period and now stands at GBP 12,000
Fixed Assets	The subjects fixed assets increased during the period by GBP 17,000 to GBP 20,000 and are now 7% of total assets compared with 1% 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%)

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