MIRA INFORM REPORT

Report Date :

06.12.2008

IDENTIFICATION DETAILS

Name :	DILBAG CLOTH HOUSE LIMITED

Registered Office :	Dilbag Building Duncomb Road, Ingleby Road, Bradford, West Yorkshire BD8 9AL

Country :	United Kingdom

Financials (as on) :	31.10.2007

Date of Incorporation :	11.6.1993

Legal Form :	Private Limited with Share Capital

Line of Business :	Import, Export and Wholesale of Textiles

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	[£] 13,000

Status :	Satisfactory

Payment Behaviour :	No Complaints

Litigation :	Clear

Name of the company

DILBAG CLOTH HOUSE LIMITED

Number 02826388

company summary

Phone	01274521711	Type	Private limited with Share Capital
Address	DILBAG BUILDING DUNCOMB ROAD, INGLEBY ROAD, BRADFORD, WEST YORKSHIRE BD8 9AL	Company Status	Active - Accounts Filed
Postcode	BD8 9AL	Incorporated Date	11/06/1993

Todays Limit [£] 13,000

	Active CCJ's	0
	Value of CCJ's [£]	£0
	Number Of Writs	0

	Current Directors	5
	Total Directorships	5

Trading to Date	31/10/07	31/10/06	31/10/05
Turnover	-	-	-
Shareholder Funds	£8,485,517	£8,096,414	£7,919,918
Employees	61	69	51

	Trends
	Profitability
	Liquidity
	Shareholders Funds

Secondary Industry Code Details

	SIC Code	Description
	5141	Wholesale Of Textiles

Mortgage Details

Mortgage Type:	deed of legal mortgage
Date Charge Created:	29/10/2008	Date Charge Registered:	05/11/2008
Date Charge Satisfied:		Status:	Outstanding
Person(s) Entitled:	SVENSKA HANDELSBANKEN AB (PUBL)
Amount Secured:	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:	retail development adwick road mexborough formerly k/a job centre adwick road mexborough t/n syk486839 and each and every part thereof and all buildings erections and structures and fixtures and fittings and fixed plant and machinery and with the benefit of all existing and future leases underleases tenancies agreements for lease rights covenants undertakings warranties floating charge all moveable plant machinery implements utensils furniture and equipment fixed charge all the benefit of and the right to enforce all contracts and agreements for the sale purchase leasing mortgaging management or other dealing with the mortgaged property all rents and licence fees floating charge the property assets and rights of the company

Mortgage Type:	legal charge
Date Charge Created:	07/05/2008	Date Charge Registered:	08/05/2008
Date Charge Satisfied:		Status:	Outstanding
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC
Amount Secured:	all monies due or to become due from the company to the chargee on any account whatsoever
Details:	wilkinson unit mill green way clowne derbyshire by way of fixed charge, the benefit of all covenants & rights concerning the property & all plant machinery, fixtures, fittings, furniture, equipment, implements & utensils. the goodwill of any business carried on at the property & the proceeds of any insurance affecting the property or assets

Mortgage Type:	legal mortgage
Date Charge Created:	09/03/2000	Date Charge Registered:	22/03/2000
Date Charge Satisfied:		Status:	Outstanding
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC
Amount Secured:	all monies due or to become due from the company to the chargee on any account whatsoever.
Details:	the freehold property known as 2-10 (eve n) duncombe road off ingleby road bradfo rd west yorkshire 19 and the proceeds of sale thereof floating charge over all moveable plant machinery implements utensils furniture and equipment and an assignment of the goodwill and connection of any business together with the full benefit of all licences

Mortgage Type:	mortgage debenture
Date Charge Created:	17/09/1993	Date Charge Registered:	24/09/1993
Date Charge Satisfied:		Status:	Outstanding
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC
Amount Secured:	all monies due or to become due from the company to the chargee on any account whatsoever.
Details:	10 a specific equitable charge over all freehold and leasehold properties and/or the proceeds of sale thereof, fixed and floating charges over undertaking and allproperty and assets present and future including goodwill, bookdebts and the benefits of any licences.

Shareholders Details

	Name	Shares
	Gurmail Kaur	500,000 Ordinary Gbp 1.00
	Dilbag Singh	500,000 Ordinary Gbp 1.00

	Address	Telephone Number	TCPS
	Dilbag Building Duncomb Road Ingleby Road Bradford BD8 9AL

accounts

PROFIT & LOSS

Annual Accounts	11/06-10/07	Change (%)	11/05-10/06	Change (%)	11/04-10/05
Months	12	-	12	-	12
Currency	GBP	-	GBP	-	GBP
Consolidated A/cs	N	-	N	-	N
Turnover	-	-	-	-	-
Export	-	-	-	-	-
Cost of Sales	-	-	-	-	-
Gross Profit	2,443,057	23.6 %	1,976,496	-7.7 %	2,141,242
Wages & Salaries	996,157	1.3 %	983,827	14.6 %	858,205
Directors Emoluments	355,037	-6.0 %	377,534	0.2 %	376,599
Operating Profits	453,302	161.7 %	173,218	-59.8 %	430,563
Depreciation	157,839	-5.8 %	167,632	4.5 %	160,411
Audit Fees	-	-	-	-	10,000
Interest Payments	65,746	87.1 %	35,134	999.9%	1,515
Pre Tax Profit	537,279	138.7 %	225,099	-52.7 %	475,758
Taxation	-148,176	-204.9 %	-48,603	90.2 %	-496,164
Profit After Tax	389,103	120.5 %	176,496	964.9 %	-20,406
Dividends Payable	-	-	-	-	-
Retained Profits	389,103	120.5 %	176,496	964.9 %	-20,406

BALANCE SHEET

Annual Accounts	11/06-10/07	Change (%)	11/05-10/06	Change (%)	11/04-10/05
Tangible Assets	3,525,040	-4.1 %	3,676,859	51.8 %	2,422,852
Intangible Assets	53,580	-14.3 %	62,510	-12.5 %	71,440
Total Fixed Assets	3,578,620	-4.3 %	3,739,369	49.9 %	2,494,292
Total Current Assets	6,131,429	-9.6 %	6,784,236	-6.2 %	7,232,042
Trade Debtors	3,720,589	-1.4 %	3,774,655	6.2 %	3,554,819
Stocks & WIP	2,030,173	-20.0 %	2,537,153	63.2 %	1,555,076
Cash	260,744	-27.4 %	358,909	-82.1 %	2,001,045
Other Debtors	119,923	5.6 %	113,519	-6.3 %	121,102
Increase In Cash	-98,165	94.0 %	-1,642,136	-988.5 %	-150,858
Miscellaneous Current Assets	-	-	-	-	-
Total Assets	9,710,049	-7.7 %	10,523,605	8.2 %	9,726,334
Total Current Liabilities	1,054,923	-53.7 %	2,278,283	44.8 %	1,573,116
Trade Creditors	582,095	11.9 %	520,090	543.9 %	80,770
Bank Loans & Overdrafts	23,303	-92.4 %	305,995	-	-
Other Short Term Fin	-	-	-	-	-
Miscellaneous Current Liabilities	449,525	-69.0 %	1,452,198	-2.7 %	1,492,346
Other Long Term Fin	69,221	-	-	-	-
Total Long Term Liabilities	169,609	13.9 %	148,908	-36.2 %	233,300
Bank Loans & Overdrafts & LTL	192,912	-57.6 %	454,903	95.0 %	233,300
Total Liabilities	1,224,532	-49.5 %	2,427,191	34.4 %	1,806,416
Net Assets	8,485,517	4.8 %	8,096,414	2.2 %	7,919,918
Working Capital	5,076,506	12.7 %	4,505,953	-20.4 %	5,658,926

CAPITALS & RESERVES

Annual Accounts	11/06-10/07	Change (%)	11/05-10/06	Change (%)	11/04-10/05
Called up Share Capital	1,000,000	-	1,000,000	-	1,000,000
P&L Account Reserve	7,485,517	5.5 %	7,096,414	2.6 %	6,919,918
Sundry Reserves	-	-	-	-	-
Revaluation Reserve	-	-	-	-	-
Shareholder Funds	8,485,517	4.8 %	8,096,414	2.2 %	7,919,918
Net Worth	8,431,937	5.0 %	8,033,904	2.4 %	7,848,478

MISCELLANEOUS

Annual Accounts	11/06-10/07	Change (%)	11/05-10/06	Change (%)	11/04-10/05
Net Cashflow from Operations	135,908	130.9 %	-439,663	-130.1 %	1,462,209
Net Cashflow before Financing	184,527	109.5 %	-1,948,131	-1,656.2 %	125,189
Net Cashflow from Financing	-	-	-	100.0 %	-25,669
Contingent Liability	NO	-	NO	-	NO
Capital Employed	8,655,126	5.0 %	8,245,322	1.1 %	8,153,218
No of Employees	61	-11.6 %	69	35.3 %	51

	Auditors	ORACLE ACCOUNTANTS LIMITED
	AuditQualification	No Adverse Comments
	Bankers	NATIONAL WESTMINSTER BANK PLC
	BankBranchCode	56-00-36

RATIOS

Annual Accounts	11/06-10/07	11/05-10/06	11/04-10/05
Pre-tax profit margin %	-	-	-
Current ratio	5.81	2.98	4.60
Sales/Net Working Capital	-	-	0.00
Gearing %	2.3 %	5.6 %	2.9 %
Equity in %	87.9 %	77.4 %	82.0 %
Creditor Days	-	-	-
Debtor Days	-	-	-
Liquidity/Acid Test	3.89	1.86	3.61
Return On Capital Employed %	6.2 %	2.7 %	5.8 %
Return On Total Assets Employed %	5.5 %	2.1 %	4.9 %
Current Debt Ratio %	0.1 %	0.3 %	0.2 %
Total Debt Ratio %	0.1 %	0.3 %	0.2 %
Stock Turnover Ratio %	-	-	-
Return on Net Assets Employed %	6.3 %	2.8 %	6.0 %

group structure

No group structure for this company.

Status History

Date	Description
No Status History

Event History

Date	Description
09/09/2008	New Accounts Filed
25/06/2008	Annual Returns
13/08/2007	New Accounts Filed
06/08/2007	Annual Returns
10/12/2006	New Accounts Filed
17/08/2005	New Accounts Filed
13/09/2004	New Accounts Filed
12/06/2004	Data Refresh
10/06/2004	Change In Reg.office
10/06/2004	Change Of Company Postcode
10/06/2004	Annual Returns

directors

Name	Jaswant Singh Makker
Address	Heygate House Heygate Lane
	Baildon
	Shipley
	BD17 6SH
Officers Title		Date Of Birth	18/03/1973
Honours		Present Appointments	1
Appointment Date	01/09/1998	Function	Director

Name	Harpreet Singh Makker
Address	Heygate House Heygate Lane
	Baildon
	Shipley
	BD17 6SH
Officers Title		Date Of Birth	24/03/1975
Honours		Present Appointments	1
Appointment Date	01/09/1998	Function	Director

Name	Gurmail Kaur
Address	Heygate House
	Heygate Lane
	Baildon
	West Yorkshire
	BD17 6SH
Officers Title	Mr	Date Of Birth	20/09/1945
Honours		Present Appointments	1
Appointment Date	14/06/1993	Function	Director

Name	Dilbag Singh
Address	Heygate House
	Heygate Lane
	Baildon
	West Yorkshire
	BD17 6SH
Officers Title		Date Of Birth	11/04/1939
Honours		Present Appointments	2
Appointment Date	14/06/1993	Function	Company Secretary

Name	Dilbag Singh
Address	Heygate House
	Heygate Lane
	Baildon
	West Yorkshire
	BD17 6SH
Officers Title		Date Of Birth	11/04/1939
Honours		Present Appointments	2
Appointment Date	14/06/1993	Function	Director

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.22
UK Pound	1	Rs.75.03
Euro	1	Rs.63.14

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

Web Address	dilbagclothhouseltd.co.uk	Incorporation Date	11/06/1993
Type of Accounts	Full Accounts	Filing Date of Accounts	30/08/2008
Company Type	Private Limited With Share Capital	Date of Latest Accounts	31/10/2007
Annual Return	11/06/2008
Industry:
The import, export and wholesale of textiles.

Registered Address		Trading Address
Telephone Number	01274521711	Telephone Number	01274 521711
TPS	N	TPS
Address		Address
DILBAG BUILDING DUNCOMB ROAD INGLEBY ROAD BRADFORD WEST YORKSHIRE BD8 9AL		Dilbag Building Duncomb Road Ingleby Road Bradford BD8 9AL

	Mortgage Charges
	Outstanding	4	Satisfied	0