MIRA INFORM REPORT

Report Date :

03.01.2008

IDENTIFICATION DETAILS

Name :	WEALMOOR LIMITED
Registered Office :	Jehta Ho Springfield Rd Hayes Middlesex UB4 0JT
Country :	United Kingdom
Financials (as on) :	31.03.2006
Date of Incorporation :	06/03/1973
Com. Reg. No.:	01100044
Legal Form :	Private Limited Liability Company (GB)
Line of Business :	Fruit and vegetable importers and wholesalers

RATING & COMMENTS

MIRA’s Rating :

Aa

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Excellent
Payment Behaviour :	No Complaints
Litigation :	Clear

Company Identification Details

Subject Reported on	WEALMOOR LIMITED
Trading Address	Jehta Ho,Springfield Rd,HAYES,UB4 0JT
Telephone	020-8867-3700

	Very Low Risk - There is every confidence this company will prove good for the assigned Credit Limit
Credit Limit	GBP   1,080,100
	Selling to this company? The Credit Limit is the recommended maximum outstanding debtor exposure at any one time.
Contract Limit	GBP   11,144,400
	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	01100044
Date of Incorporation	06/03/1973
Registered Office	Jehta Ho Springfield Rd Hayes Middlesex UB4 0JT
Date of Last Annual Return to Registry	01/08/2007
Activities	Fruit and vegetable importers and wholesalers
Accounts	The last filed accounts cover the period to 31/03/2006 and were filed on 04/04/2007

Recently Filed Documents

Details of the most recent documents

Date Received	Description
01/08/2007	Annual Return
31/03/2006	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	RATILAL JETHALAL DHANANI
Occupation
Address	7,  HATHAWAY CLOSE , STANMORE , MIDDX , HA7 3NR
Date of Birth	28/08/1930
Appointment Date	01/08/1991
Other Appointments	WEALMOOR ATHERSTONE LTD, WEALMOOR LIMITED
DIRECTOR	LEENA AVNISH MALDE
Occupation	ADMINISTRATOR
Address	ASHOVER ,  CATLINS LANE , PINNER , MIDDX , HA5 2EZ
Date of Birth	29/05/1966
Appointment Date	26/04/2004
Other Appointments	SCION FILMS SALE AND LEASEBACK SIXTH LLP, THE CLOSE FILM SALE AND LEASEBACK (2004/5) LLP, WEALMOOR ATHERSTONE LTD,  WEALMOOR LIMITED
DIRECTOR	VILASGAURI RATILAL DHANANI
Occupation
Address	7,  HATHAWAY CLOSE , STANMORE , MIDDX , HA7 3NR
Date of Birth	03/04/1937
Appointment Date	01/08/1991
Other Appointments	WEALMOOR LIMITED
DIRECTOR	AVNISH  MALDE
Occupation
Address	ASHOVER ,  CATLINS LANE , PINNER , MIDDX , HA5 2EZ
Date of Birth	08/11/1965
Appointment Date	03/11/2003
Other Appointments	THE CLOSE FILM SALE AND LEASEBACK (2004/5) LLP, WEALMOOR ATHERSTONE LTD, WEALMOOR LIMITED
SECRETARY	MS  LEENA MALDE
Address	ASHOVER,  CATLINS LANE , PINNER , MIDDLESEX , HA5 2EZ
Country of Origin	BRITISH
Date of Birth	29/05/1966
Appointment Date	02/10/1992

Recently Resigned Directors (last 3)

DIRECTOR	GIRISH K MULJI SHAH
Occupation	SALES MANAGER
Address	54 , SHERINGTON AVENUE , PINNER , MIDDX , - -
Date of Birth	25/04/1957
Resignation Date	31/03/1993

Share Summary

Share Currency:	GBP
Priniciple Shareholders:	Type Of Share	No. of Shares	Value	%age
Mrs Vilasgauri Ratilal Dhanani	ORD	250,000	25,000.00	50.00
Ratilal Jethalal Dhanani	ORD	250,000	25,000.00	50.00

Mortgages and Charges

Total Registered	3
Total Outstanding	3
Total Satisfied	0
Most Recent Mortgage	30/11/1987

Date Registered	04/12/1987
Type	9999
Date Created	30/11/1987
Lender	NATIONAL WESTMINSTER BANK LTD
Secured On	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details	A SPECIFIC EQUITABLE CHARGE OVER ALL FREEHOLD AND LEASEHOLD PROPERTIES ANDOR THE PROCEEDS OF SALE THEREOF, FIXED AND FLOATING CHARGES OVER UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL, BOOKDEBTS AND THE BENEFITS OF ANY LICENCES
Satisfied?	No
Date Registered	18/06/1987
Type	9999
Date Created	11/06/1987
Lender	NATIONAL WESTMINSTER BANK LTD
Secured On	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details	LAND BEING 2 ACRES OR THEREABOUTS ADJOINING BULLSBROOK ROAD AND SPRINGFIELDS ROAD HAYES HILLINGDON, LONDON. TITLE NO MX 33589. ANDOR THE PROCEEDS OF SALE, FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT
Satisfied?	No
Date Registered	23/11/1979
Type	9999
Date Created	02/11/1979
Lender	NATIONAL WESTMINSTER BANK LTD
Secured On	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details	1516 WESTFIELD LANE, KENTON, HARROW, MIDDX. TITLE NO. NGL 320994 FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT
Satisfied?	No

Public Record Information

Summary of CCJ's/Scottish Decrees

There are 1 exact unsatisfied CCJs totaling GBP 2081 in the last 72 months

Details of most recent CCJ's/Scottish Decrees

24/03/2006, a Judgment of "GBP" 2081 was made in GRANTHAM court (Case No. 6GR00197 ) against Wealmoor Ltd, Jetha Ho, Springfield Rd, Hayes, Middlesex, UB4 0JT

Operations

Activities	Fruit and vegetable importers and wholesalers
Sic Code	Description
5131	Wholesale of fruit and vegetables
Staff Employed	581
Auditors	Braham Noble Denholm & Co
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	600905

Financial Data

The following figures are shown in units of 000

Profit and Loss

Number of Weeks	52	52	52	52
Accounts Date	31/03/2006	31/03/2005	31/03/2004	31/03/2003
Currency	GBP	GBP	GBP	GBP
Consolidated?	No	No	Yes	Yes
SALES	61,835	51,152	44,234	41,527
Other operating income	70	76	-	-
Cost of goods sold	55,607	45,202	38,841	36,321
GROSS PROFIT	6,228	5,951	5,393	5,206
Other Expenses	241	-	-	-
General administration costs (-)	3,803	4,410	3,825	5,107
Wages and Salaries	1,988	6,818	6,140	5,027
Depreciation	213	149	172	437
Net Operating Profit(Loss)	2,254	1,617	1,568	99
Non Trading Income	3	13	4	67
Group Non Trading Income	0	-	-	-
Total Non Trading Income	4	13	635	67
Interest expenses & similar (-)	18	20	415	80
Financial Expenses	18	20	415	80
PRE TAX PROFIT	2,239	1,610	1,788	86
Other Taxation	0	-32	149	-10
Taxation	679	451	489	601
PROFIT AFTER TAX	1,560	1,191	1,150	-506
Net Profit	1,560	1,191	1,221	-
Dividends Payable	0	0	0	150
RETAINED PROFITS	1,560	1,191	1,221	-

Balance Sheet

Number of Weeks	52	52	52	52
Accounts Date	31/03/2006	31/03/2005	31/03/2004	31/03/2003
Currency	GBP	GBP	GBP	GBP
Consolidated?	No	No	Yes	Yes
TOTAL FIXED ASSETS	5,565	4,427	4,491	6,359
Land & buildings	3,688	3,646	3,679	4,301
Plant, machinery & equipment	487	344	375	1,154
Intermediate Assets	1,390	437	437	437
TOTAL CURRENT ASSETS	10,439	9,709	8,233	5,440
Stocks	507	337	340	475
Trade Debtors	7,037	6,148	4,817	4,240
Other Receivables	233	215	74	152
Prepaid expenses	234	259	211	552
Group Loans	2,398	2,472	2,388	-
Cash	0	248	374	21
Marketable Securities	29	29	29	-
TOTAL ASSETS	16,004	14,136	12,724	11,800
TOTAL CURRENT LIABILITIES	5,631	6,056	5,784	5,434
Trade Creditors	4,630	5,461	4,671	3,945
Bank Overdraft	360	-	564	659
Taxes	397	285	414	608
Other Current Liabilities	62	2	6	42
Hire Purchase	28	28	37	55
Accruals & deferred income	153	280	92	125
WORKING CAPITAL	4,808	3,653	2,449	7
TOTAL LONG TERM LIABS	343	337	389	1,036
Taxation	325	292	301	156
Total Hire Purchase / Leasing	18	45	88	152
NET ASSETS/(LIABILITIES)	10,373	8,080	6,940	6,366
SHARE CAPITAL + RESERVES	10,029	7,742	6,552	5,331
Issued Share Capital	50	50	50	50
Reserves	833	106	106	106
Profit and Loss account	9,146	7,586	6,396	5,175
SHAREHOLDERS FUNDS	10,029	7,742	6,552	5,331
CAPITAL EMPLOYED	10,372	8,079	6,941	6,367
TANGIBLE NET WORTH	10,030	7,742	6,552	4,863

Key Credit Ratios

Accounts Date	31/03/2006	31/03/2005	31/03/2004	31/03/2003
Current Ratio	1.85	1.60	1.42	1.00
Profit Before Tax	0.04	0.03	0.04	0.00
Creditors Days (D.P.O)	30.39	44.10	43.89	39.64
Quick Ratio	1.76	1.55	1.36	0.91
Return on Assets	15.32	11.75	14.55	0.79
T.N.W/Total Assets	0.63	0.55	0.51	0.41
Return on Capital	21.59	19.93	25.76	1.35
Working Capital/Sales	0.00	0.00	0.00	0.00
Equity Gearing	0.31	0.27	0.22	0.31
Stock Turnover	0.00	0.00	0.00	0.00
Solvency (%)	59.56	82.58	94.22	133.05

Financial Summary

Turnover	Turnover increased by more than 21% in the period. Turnover totaled GBP  61,835,000 for the period.
Operating Profit	Totaled GBP  2,254,000 In the period prior a profit of GBP   1,617,000 was achieved.
Pre Tax	The subject made a profit of GBP  2,239,000 compared with a profit of GBP  1,610,000 in the previous period.
Working Capital	The company's working capital improved in the period by 32%
Tangible Net Worth	Net worth increased by 2,288,000 during the period and now stands at GBP  10,030,000
Fixed Assets	The subjects fixed assets increased during the period by GBP  185,000 to GBP  4,175,000 and are now 26% of total assets compared with 28% in the previous period
Long Term Liabilities	The company's long term liabilities reduced during the period by 20% and are now 5% of net worth compared with 8% in the previous period
Long Term Liabilities	Long term liabilities are now 3% of total assets compared with 4% 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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