MIRA INFORM REPORT

Report Date :

15.04.2008

IDENTIFICATION DETAILS

Name :	COMPLETE PARTS LIMITED

Registered Office :	3 The Archway, Radford Road, Alvechurch, B48 7LD

Country :	United Kingdom

Financials (as on) :	30.09.2007

Date of Incorporation :	30.04.1985

Com. Reg. No.:	01909947

Legal Form :	Private Limited Liability Company (GB)

Line of Business :	Agricultural and Commercial Vehicle Component Distributors.

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	GBP 98,300

Status :	Good

Payment Behaviour :	No Complaints

Litigation :	Clear

Company Identification Details


Subject Reported on	COMPLETE PARTS LIMITED
Holding Company	CONCENTRIC PUMPS LTD
Ultimate Holding Company	Haldex AB
Trading Address	PO BOX 10267,BIRMINGHAM,B24 8WL

Telephone	0121-322-8946



	There is every confidence this company will prove good for the assigned Credit Limit

Credit Limit	GBP 98,300
	Selling to this company? The Credit Limit is the recommended maximum outstanding debtor exposure at any one time.

Contract Limit	GBP 715,600
	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	01909947
Date of Incorporation	30/04/1985
Registered Office	3 The Archway, Radford Road, Alvechurch, B48 7LD
Date of Last Annual Return to Registry	21/12/2007
Activities	Agricultural and commercial vehicle component distributors.
Accounts	The last filed accounts cover the period to 30/09/2007

Recently Filed Documents

Details of the most recent documents

Date Received	Description
21/12/2007	Annual Return
30/09/2007	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

GRAHAM DONALD KIRK

Occupation

ENGINEER

Address

62, ENNERDALE CRESCENT ST NICOLAS PARK , NUNEATON , WARWICKSHIRE , CV11 6HZ

Country of Origin

BRITISH

Date of Birth

31/07/1954

Appointment Date

10/10/2000

Other Appointments

COMPLETE PARTS LIMITED

DIRECTOR

IAN ROBERT DUGAN

Occupation

DIRECTOR

Address

PHEASANT FARM , UPPER BENTLEY , REDDITCH , WORCS , B97 5SX

Country of Origin

BRITISH

Date of Birth

14/03/1956

Appointment Date

04/11/2002

Other Appointments

COMPLETE PARTS LIMITED, CONCENTRIC (TIPTON) LIMITED, CONCENTRIC ENGINEERING LIMITED, CONCENTRIC OVERSEAS LIMITED, CONCENTRIC PLC , CONCENTRIC PUMPS LIMITED, CONCENTRIC VFP LIMITED, LANDON KINGSWAY LIMITED

DIRECTOR

EDWARD JOHN RILEY

Occupation

DIRECTOR

Address

LANGLAND , BROAD LANE TANWORTH IN ARDEN , SOLIHULL , WEST MIDLANDS , B94 5HX

Country of Origin

BRITISH

Date of Birth

12/09/1957

Appointment Date

26/08/2003

Other Appointments

DIRECTOR

DAVID JOHN WOOLLEY

Occupation

DIRECTOR

Address

MEADOW HOUSE , BENTON GREEN LANE BERKSWELL , COVENTRY , CV7 7AX

Country of Origin

BRITISH

Date of Birth

01/05/1962

Appointment Date

01/10/2005

Other Appointments

COMPLETE PARTS LIMITED, CONCENTRIC PLC , CONCENTRIC PUMPS LIMITED

Recently Resigned Directors (last 3)


DIRECTOR	JOHN GRAHAM TOOKEY
Occupation	DIRECTOR
Address	PIPPINS MEADOW , ATCH LENCH ROAD CHURCH LANE , EVESHAM , WORCS , - -
Country of Origin	BRITISH
Date of Birth	06/07/1951
Resignation Date	14/10/2005
DIRECTOR	ROBERT WALTER MITCHELL
Occupation	ACCOUNTANT
Address	54 , SOMERSET ROAD , BIRMINGHAM , - -
Country of Origin	BRITISH
Date of Birth	25/04/1953
Resignation Date	25/09/2003
DIRECTOR	JOHN TOWERS
Occupation	ENGINEER
Address	TALL TREES , RUGBY , WARWICKSHIRE , - -
Country of Origin	BRITISH
Date of Birth	30/03/1948
Resignation Date	25/09/2003

Share Summary

Share Currency:	GBP

Priniciple Shareholders:	Type Of Share	No. of Shares	Value	%age
CONCENTRIC PUMPS LTD	ORD	99	99.00	99.00
Concentric Pumps Ltd & Mr Anthony Christopher Firth & Mr Roger Frederick Miles	ORD	1	1.00	1.00

Mortgages and Charges


Total Registered	3
Total Outstanding	3
Total Satisfied	0
Most Recent Mortgage	28/03/2000


Date Registered	13/04/2000
Type	395
Date Created	28/03/2000
Lender	THE ROYAL BANK OF SCOTLAND PLC,AS TRUSTEE ON BEHALF OF ITSELF,THE BANKS AND FINANCIAL
Secured On	UNDER OR PURSUANT TO VARIOUS AGREEMENTS (AS DEFINED),ANY OTHER DOCUMENTS AND THIS DEBENTURE ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE
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	02/02/1999
Type	395
Date Created	22/01/1999
Lender	THE ROYAL BANK OF SCOTLAND plc
Secured On	AND VARYING THE TERMS OF THE COMPOSITE GUARANTEE AND DEBENTURE DATED 14th OCTOBER 1998
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	02/11/1998
Type	395
Date Created	14/10/1998
Lender	THE ROYAL BANK OF SCOTLAND plc
Secured On	ALL MONEYS OBLIGATIONS AND LIABILITIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE AS SECURITY TRUSTEE FOR THE SECURED PARTIES (AS DEFINED) OR ANY OF THEM INCLUDING WITHOUT LIMITATION ALL MONEYS OBLIGATIONS AND LIABILITIES DUE UNDER OR PURSUANT TO THE SECURED DOCUMENTS (AS DEFINED)
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

Public Record Information

Summary of CCJ's/Scottish Decrees

There are no unsatisfied CCJs against the company.

Operations


Activities	Agricultural and commercial vehicle component distributors.
Sic Code	Description
5030	Sale of motor vehicle parts and accessories
Staff Employed	6
Auditors	KPMG
Auditors Notes	No Qualification. The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the latest accounts.
Bankers	The Royal Bank of Scotland plc P.O. Box 450
Sort Codes	160400

Financial Data

Profit and Loss

Number of Weeks	52	52	52	52
Accounts Date	30/09/2007	30/09/2006	30/09/2005	30/09/2004
Currency	GBP	GBP	GBP	GBP
Units	000	000	000	000
Consolidated?	No	No	No	No
SALES	2,401	2,653	3,186	3,011
Export Sales	1,326	1,479	2,049	1,652
Cost of goods sold	1,797	2,166	2,621	2,475
GROSS PROFIT	604	487	565	536
Other Expenses	120	177	240	114
General administration costs (-)	294	312	456	422
Wages and Salaries	159	176	316	223
Depreciation	4	3	2	2
Net Operating Profit(Loss)	190	-2	-131	0
Other financial income	23	21	18	-
Total Non Trading Income	23	21	18	0
Other financial charges	27	-	-	-
Financial Expenses	27	26	23	0
PRE TAX PROFIT	186	-7	-136	0
Other Taxation	6	-1	2	7
Taxation	59	0	0	0
PROFIT AFTER TAX	121	-6	-138	-7
Net Profit	121	-	-	-
Dividends Payable	0	0	0	0
RETAINED PROFITS	121	-	-	-

Balance Sheet

Number of Weeks	52	52	52	52
Accounts Date	30/09/2007	30/09/2006	30/09/2005	30/09/2004
Currency	GBP	GBP	GBP	GBP
Units	000	000	000	000
Consolidated?	No	No	No	No
TOTAL FIXED ASSETS	13	17	12	12
Plant, machinery & equipment	13	17	12	12
TOTAL CURRENT ASSETS	1,380	1,138	1,341	1,442
Stocks	239	252	499	322
Trade Debtors	488	393	478	472
Prepaid expenses	5	2	14	34
Group Loans	9	31	68	65
Cash	637	403	254	549
Tax Recoverable	2	57	28	-
TOTAL ASSETS	1,393	1,155	1,353	1,454
TOTAL CURRENT LIABILITIES	641	530	711	668
Trade Creditors	272	303	410	133
Due From Group	171	69	112	462
Accruals & deferred income	198	158	189	73
WORKING CAPITAL	739	608	630	774
TOTAL LONG TERM LIABS	108	113	129	8
Other Long Term Liabilities	108	113	129	8
NET ASSETS/(LIABILITIES)	752	625	642	786
SHARE CAPITAL + RESERVES	644	512	513	778
Profit and Loss account	644	512	513	778
SHAREHOLDERS FUNDS	644	512	513	778
CAPITAL EMPLOYED	752	625	642	786
TANGIBLE NET WORTH	644	512	513	778

Key Credit Ratios

Accounts Date	30/09/2007	30/09/2006	30/09/2005	30/09/2004
Current Ratio	2.15	2.15	1.89	2.16
Profit Before Tax	0.08	0.00	-0.04	0.00
Creditors Days (D.P.O)	55.25	51.06	57.10	19.61
Quick Ratio	1.78	1.67	1.18	1.68
Return on Assets	13.35	-0.61	-10.05	0.00
T.N.W/Total Assets	0.46	0.44	0.38	0.54
Return on Capital	24.73	-1.12	-21.18	0.00
Working Capital/Sales	0.00	0.00	0.00	0.00
Equity Gearing	0.06	0.05	0.04	0.97
Solvency (%)	116.30	125.59	163.74	86.89

Financial Summary

Turnover	Turnover decreased by more than 9% in the period. Turnover totalled GBP 2,401,000 for the period.
Operating Profit	Totalled GBP 190,000 In the period prior a loss of GBP 2,000 was achieved.
Pre Tax	The subject made a profit of GBP 186,000 compared with a loss of GBP 7,000 in the previous period.
Working Capital	The company's working capital improved in the period by 22%
Tangible Net Worth	Net worth increased by 132,000 during the period and now stands at GBP 644,000
Fixed Assets	The subjects fixed assets reduced during the period by GBP 4,000 to GBP 13,000 and are now 1% of total assets compared with 1% in the previous period
Long Term Liabilities	The company's long term liabilities reduced during the period by 4% and are now 17% of net worth compared with 22% in the previous period
Long Term Liabilities	Long term liabilities are now 8% of total assets compared with 10% 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