MIRA INFORM REPORT

Report Date :

18.12.2008

IDENTIFICATION DETAILS

Name :	H. K. FOUNDERS LIMITED

Formerly Known as :	FINDMASS LIMITED

Registered Office :	Provident House, 51 Wardwick, Derby DE1 1HN

Country :	United Kingdom

Financials (as on) :	31.12.2007

Date of Incorporation :	09.05.1986

Legal Form :	Private Limited with Share Capital

Line of Business :	Supply of Engineering Castings and the Manufacture of Decorative Cast Street Furniture.

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 :	[£] 45,000

Status :	Good

Payment Behaviour :	No Complaints

Litigation :	Clear

Name of the company

H. K. FOUNDERS LIMITED

Number 02018081

company summary

Phone

Type

Private limited with Share Capital

Address

PROVIDENT HOUSE,

51 WARDWICK,

DERBY DE1 1HN

Company Status

Active – Accounts Filed

Postcode

DE1 1HN

Incorporated Date

09/05/1986

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

	Current Directors	4
	Total Directorships	4

Trading to Date	31/12/07	31/12/06	31/12/05
Turnover	-	-	-
Shareholder Funds	£285,699	£301,109	£268,104
Employees	-	-	-

	Trends
	Profitability
	Liquidity
	Shareholders Funds

Previous Names Details

	Previous Name(s)
	Changed :	03/09/1986	Findmass Limited

Secondary Industry Code Details

	SIC Code	Description
	2751	Casting Of Iron

Shareholders Details

	Name	Shares
	Chessco Industries Inc	2 Ordinary Gbp 1.00

	Address	Telephone Number	TCPS
	Provident House 51 Wardwick Derby DE1 1HN

accounts

PROFIT & LOSS

Annual Accounts	01/07-12/07	Change (%)	01/06-12/06	Change (%)	01/05-12/05
Months	12	-	12	-	12
Currency	GBP	-	GBP	-	GBP
Consolidated A/cs	N	-	N	-	N
Turnover	-	-	-	-	-
Export	-	-	-	-	-
Cost of Sales	-	-	-	-	-
Gross Profit	-	-	-	-	-
Wages & Salaries	-	-	-	-	-
Directors Emoluments	-	-	-	-	-
Operating Profits	-	-	-	-	-
Depreciation	5,676	137.5 %	2,390	-24.5 %	3,164
Audit Fees	-	-	-	-	-
Interest Payments	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-
Taxation	-	-	-	-	-
Profit After Tax	-	-	-	-	-
Dividends Payable	-	-	-	-	-
Retained Profits	-	-	-	-	-

BALANCE SHEET

Annual Accounts	01/07-12/07	Change (%)	01/06-12/06	Change (%)	01/05-12/05
Tangible Assets	23,867	116.1 %	11,043	-1.9 %	11,261
Intangible Assets	-	-	-	-	-
Total Fixed Assets	23,867	116.1 %	11,043	-1.9 %	11,261
Total Current Assets	428,182	-13.4 %	494,192	-0.6 %	497,182
Trade Debtors	222,808	-	-	-	-
Stocks & WIP	108,211	1.0 %	107,118	4.9 %	102,139
Cash	97,163	-30.4 %	139,540	-8.5 %	152,545
Other Debtors	-	-100.0 %	247,534	2.1 %	242,498
Increase In Cash	-42,377	-225.9 %	-13,005	-116.6 %	78,527
Miscellaneous Current Assets	-	-	-	-	-
Total Assets	452,049	-10.5 %	505,235	-0.6 %	508,443
Total Current Liabilities	157,331	-22.9 %	204,126	-15.1 %	240,339
Trade Creditors	157,331	-	-	-	-
Bank Loans & Overdrafts	-	-	-	-	-
Other Short Term Fin	-	-	-	-	-
Miscellaneous Current Liabilities	-	-100.0 %	204,126	-15.1 %	240,339
Other Long Term Fin	-	-	-	-	-
Total Long Term Liabilities	9,019	-	-	-	-
Bank Loans & Overdrafts & LTL	9,019	-	-	-	-
Total Liabilities	166,350	-18.5 %	204,126	-15.1 %	240,339
Net Assets	285,699	-5.1 %	301,109	12.3 %	268,104
Working Capital	270,851	-6.6 %	290,066	12.9 %	256,843

CAPITALS & RESERVES

Annual Accounts	01/07-12/07	Change (%)	01/06-12/06	Change (%)	01/05-12/05
Called up Share Capital	2	-	2	-	2
P&L Account Reserve	285,697	-5.1 %	301,107	12.3 %	268,102
Sundry Reserves	-	-	-	-	-
Revaluation Reserve	-	-	-	-	-
Shareholder Funds	285,699	-5.1 %	301,109	12.3 %	268,104
Net Worth	285,699	-5.1 %	301,109	12.3 %	268,104

MISCELLANEOUS

Annual Accounts	01/07-12/07	Change (%)	01/06-12/06	Change (%)	01/05-12/05
Net Cashflow from Operations	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-
Contingent Liability	NO	-	NO	-	NO
Capital Employed	294,718	-2.1 %	301,109	12.3 %	268,104
No of Employees	-	-	-	-	-

	Auditors	LINGS
	AuditQualification	No Adverse Comments
	Bankers	NATIONAL WESTMINSTER BANK PLC
	BankBranchCode

RATIOS

Annual Accounts	01/07-12/07	01/06-12/06	01/05-12/05
Pre-tax profit margin %	-	-	-
Current ratio	2.72	2.42	2.07
Sales/Net Working Capital	-	0.00	0.00
Gearing %	3.2 %	0.0 %	0.0 %
Equity in %	63.2 %	59.6 %	52.7 %
Creditor Days	-	-	-
Debtor Days	-	-	-
Liquidity/Acid Test	2.03	1.90	1.64
Return On Capital Employed %	-	0.0 %	0.0 %
Return On Total Assets Employed %	-	0.0 %	0.0 %
Current Debt Ratio %	0.6 %	0.7 %	0.9 %
Total Debt Ratio %	0.6 %	0.7 %	0.9 %
Stock Turnover Ratio %	-	-	-
Return on Net Assets Employed %	-	0.0 %	0.0 %

group structure

	Ultimate Parent Company	CHESSCO INDUSTRIES INC
	Companies in Group	2

Company Name	Registered Number	Latest Annual Accounts
CHESSCO INDUSTRIES INC	U.S.A.	N/A
H. K. FOUNDERS LIMITED<<<	02018081	31/12/2007

Status History

Date	Description
No Status History

Event History

Date	Description
22/04/2008	New Accounts Filed
01/02/2008	Annual Returns
23/05/2007	New Accounts Filed
28/04/2006	New Accounts Filed
10/05/2005	New Accounts Filed
03/05/2005	John Edmund Leighkruger Has Left The Board
03/05/2005	New Board Member (sarah Janecleminson) Appointed
15/02/2005	Annual Returns
17/06/2004	Data Refresh
05/05/2004	New Accounts Filed
04/05/2004	New Accounts Filed
29/04/2004	New Accounts Filed
10/04/2004	New Board Member (stephen Victormiddleton) Appointed
09/04/2004	John Edmund Leighkruger Has Left The Board
09/04/2004	Annual Returns

Directors

Name	Sarah Jane Cleminson
Address	6 Alton Close
	Allestree
	Derby
	Derbyshire
	DE22 2LJ
Officers Title	Ms	Date Of Birth
Honours		Present Appointments	1
Appointment Date		Function	Company Secretary

Name	Louis Radler
Address	1300 Post Road East
	Westport Connecticut 06880
	United States Of Ammerica
Officers Title	Mr	Date Of Birth	29/07/1931
Honours		Present Appointments	1
Appointment Date	11/04/1997	Function	Director

Name	Jeffrey Radler
Address	50 Bud Lane
	Stamford
	Ct 06903
	Usa
Officers Title	Mr	Date Of Birth	28/05/1959
Honours		Present Appointments	1
Appointment Date	11/04/1997	Function	Director

Name	Stephen Victor Middleton
Address	2 Ellesmere Drive
	Trowell
	Nottingham
	NG9 3PH
Officers Title	Mr	Date Of Birth	21/10/1963
Honours		Present Appointments	1
Appointment Date	01/04/2004	Function	Director

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.47.08
UK Pound	1	Rs.71.17
Euro	1	Rs.66.98

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	hk-founders.com	Incorporation Date	09/05/1986
Type of Accounts	Small Company	Filing Date of Accounts	16/04/2008
Company Type	Private Limited With Share Capital	Date of Latest Accounts	31/12/2007
Annual Return	31/12/2007

	Registered Address		Trading Address
	Telephone Number		Telephone Number
	TPS		TPS
	Address		Address
	PROVIDENT HOUSE 51 WARDWICK DERBY DE1 1HN		Provident House 51 Wardwick Derby DE1 1HN

	Industry:
	Principally the supply of engineering castings and the manufacture of decorative cast street furniture.

	Mortgage Charges
	Outstanding	0	Satisfied	0