MIRA INFORM REPORT

Report Date :

22.08.2008

IDENTIFICATION DETAILS

Name :	GLOBAL ESSENCE UK LTD
Registered Office :	Unit 1 Parklands Business Cntr, Stortford Rd, Leaden Roding
Country :	United Kingdom
Financials (as on) :	31.12.2006
Date of Incorporation :	09.03.2001
Com. Reg. No.:	04176516
Legal Form :	Private Limited Liability Company (GB)
Line of Business :	Essential Oils and Aromatic Chemical Mailly for Fragrence

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

Maximum Credit Limit :	GBP   2,200
Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

Company Identification Details

Subject Reported on	GLOBAL ESSENCE UK LTD
Trading Address	3 SOUTHSIDE,SOUTHMILL RD,BISHOP'S STORTFORD,CM23 3DH
Telephone	01279-836186

	This company has an average risk status and should be treated with a degree of caution
Credit Limit	GBP   2,200
	Selling to this company? The Credit Limit is the recommended maximum outstanding debtor exposure at any one time.
Contract Limit	GBP   17,600
	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	04176516
Date of Incorporation	09/03/2001
Registered Office	Unit 1 Parklands Business Cntr, Stortford Rd, Leaden Roding
Date of Last Annual Return to Registry	09/03/2008
Activities	Essential Oils and Aromatic Chemical mailly for Fragrence
Accounts	The last filed accounts cover the period to 31/12/2006 and were filed on 12/11/2007 with Companies House. Please note that the transition, analysis and publication of these accounts may take up to 10 days to appear on this report.

Payment Performance

Summary
Days Beyond Terms (DBT) for	08/2008
No. Of Experiences	7
No. Of References	4
Current DBT	42

DBT Monthly Trend

Month	07/2008	06/2008	05/2008	04/2008	03/2008	02/2008	01/2008	12/2007	11/2007	10/2007	09/2007
DBT	45	45	45	42	42	48	48	48	48	36	27

Industry DBT Comparison

Upper Quartile	2
Median	9
Lower Quartile	19

DBT Table

Period	1-3mths		4-6mths		7-12mths
DBT	Exp	Amt	Exp	Amt	Exp	Amt
Within Terms	2	600	0	0	1	200
0-30	0	0	2	3,000	0	0
31-60	0	0	0	0	0	0
61-90	2	4,000	0	0	0	0
91-120	0	0	0	0	0	0
121-180	0	0	0	0	0	0
180+	0	0	0	0	0	0
Total	4	4,600	2	3,000	1	200

Recently Filed Documents ( view available documents )

Details of the most recent documents

Date Received	Description
09/03/2008	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	MR  GARY  ZAK
Occupation
Address	91 RADCLIFFE DRIVE,  , LINCROFT N J , MONMOUTH 07738
Country of Origin	AMERICAN
Date of Birth	30/09/1950
Appointment Date	18/05/2001
Other Appointments	PERSONAL ESSENCE UK LTD
DIRECTOR	MS  DEBORAH JOAN MOCKFORD
Occupation
Address	24 THE PADDOCK,  , BISHOPS STORTFORD , HERTFORDSHIRE , CM23 4JN
Country of Origin	BRITISH
Date of Birth	04/05/1959
Appointment Date	25/03/2004
Other Appointments	BRITISH ESSENTIAL OIL ASSOCIATION LTD(THE)
DIRECTOR	MS  KATRINA ANNE NEALE
Occupation	IMPORTER
Address	17 CHAMBERLIN COURT,  , CRANBURY , NEW JERSEY 08512
Country of Origin	BRITISH
Date of Birth	30/03/1960
Appointment Date	24/12/2002
DIRECTOR	MR  ALAN EDWARD YORK
Occupation	IMPORT EXPORT
Address	DENEWOOD HAY GREEN LANE,  HOOK END , BRENTWOOD , ESSEX , CM15 0NX
Country of Origin	BRITISH
Date of Birth	12/02/1960
Appointment Date	23/06/2004
Other Appointments	PROSPECT BUSINESS PARK MANAGEMENT COMPANY LIMITED, INTERNATIONAL GENERAL PRODUCE ASSOCIATION LTD (THE), BUCKTON PAGE LTD
SECRETARY	MS  DEBORAH MOCKFORD
Address	24 THE PADDOCK,  , BISHOPS STORTFORD , HERTFORDSHIRE , CM23 4JN
Country of Origin	BRITISH
Date of Birth	04/05/1959
Appointment Date	25/03/2004

Recently Resigned Directors (last 3)

DIRECTOR	MR   DAVID    ZAK
Occupation	Account Executive Global Essen
Address	524 ADAMS STREET APARTMENT 4L ,  , HOBOKEN NJ , HUDSON 07030 ,
Country of Origin	Usa
Date of Birth	03/08/1972
Resignation Date	31/12/2002
DIRECTOR	MS   LINDA  PATRICIA  JOHNSTON
Occupation	Company Director
Address	12 WOODPECKER CLOSE ,  , BISHOP'S STORTFORD , HERTFORDSHIRE , CM23 4QA
Country of Origin	British
Date of Birth	30/08/1960
Resignation Date	18/05/2001

Share Summary

Share Currency:	GBP
Principal Shareholders:	Type Of Share	No. of Shares	Value	Voting %age
Deborah Mockford		100	100.00	10.00
Katrina Neale		360	360.00	36.00
Mr Alan Edward York		100	100.00	10.00
Mr David Zak	ORD	40	40.00	4.00
Mr Gary Zak	B ORD	360	360.00	36.00
R Zak	ORD	40	40.00	4.00

Mortgages and Charges

Total Registered	2
Total Outstanding	2
Total Satisfied	0
Most Recent Mortgage	14/02/2005

Date Registered	19/02/2005
Type	395
Date Created	14/02/2005
Lender	NATIONAL WESTMINSTER 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
Date Registered	07/07/2004
Type	395
Date Created	30/06/2004
Lender	THE ROYAL BANK OF SCOTLAND COMMERCIAL SERVICES LIMITED (THE SECURITY HOLDER)
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	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	Essential Oils and Aromatic Chemical mailly for Fragrence
Sic Code	Description
2320	Manufacture of refined petroleum products
Staff Employed	3
Auditors	Giess Wallis Crisp
Auditors Notes	No Qualification. The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the latest accounts.
Bankers	NATIONAL WESTMINSTER BANK PLC
Sort Codes	600236

Financial Data

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
Units	units	units	units	units
Consolidated?	No	No	No	No
RETAINED PROFITS	-	-29,285	22,178	-

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
Units	units	units	units	units
Consolidated?	No	No	No	No
TOTAL FIXED ASSETS	13,270	12,032	9,227	474
Total Fixed Assets	13,270	-	-	474
TOTAL CURRENT ASSETS	1,653,825	1,120,378	973,628	234,980
Stocks	670,317	444,208	331,446	55,457
Trade Debtors	971,172	510,761	516,832	154,258
Cash	12,336	54,849	5,564	25,265
TOTAL ASSETS	1,667,095	1,132,410	982,855	235,454
TOTAL CURRENT LIABILITIES	1,626,770	1,072,887	894,047	168,824
Bank Overdraft	10,549	-	30,286	-
Other Current Liabilities	1,616,221	1,072,887	384,361	168,824
WORKING CAPITAL	27,055	47,491	79,581	66,156
TOTAL LONG TERM LIABS	758	0	0	0
Other Long Term Liabilities	758	-	-	-
NET ASSETS/(LIABILITIES)	40,325	59,523	88,808	66,630
SHARE CAPITAL + RESERVES	39,567	59,523	88,808	66,630
Issued Share Capital	1,000	1,000	1,000	1,000
Profit and Loss account	38,567	58,523	87,808	65,630
SHAREHOLDERS FUNDS	39,567	59,523	88,808	66,630
CAPITAL EMPLOYED	40,325	59,523	88,808	66,630
TANGIBLE NET WORTH	39,567	59,523	88,808	66,630

Key Credit Ratios

Accounts Date	31/12/2006	31/12/2005	31/12/2004	31/12/2003
Current Ratio	1.02	1.04	1.09	1.39
Profit Before Tax	-	0.02	0.02	-
Creditors Days (D.P.O)	-	-	129.32	-
Quick Ratio	0.60	0.63	0.72	1.06
Return on Assets	-	5.53	2.65	-
T.N.W/Total Assets	0.02	0.05	0.09	0.28
Return on Capital	-	105.20	29.34	-
Working Capital/Sales	-	0.00	0.00	-
Equity Gearing	0.52	-	-	-
Stock Turnover	-	0.00	0.00	-
Solvency (%)	4113.35	1802.47	1006.72	253.38

Financial Summary
Working Capital	The company's working capital decreased in the period by 43%
Tangible Net Worth	Net worth reduced by 19,956 during the period and now stands at GBP  39,567,units
Fixed Assets	The subjects fixed assets increased during the period by GBP  1,238 to GBP  13,270,units and are now 1% of total assets compared with 1% in the previous period
Long Term Liabilities	Long term liabilities are now 0% of total assets compared with 0% in the previous period

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FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.43.38
UK Pound	1	Rs.81.34
Euro	1	Rs.64.55

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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