MIRA INFORM REPORT

Report Date :

08.01.2008

IDENTIFICATION DETAILS

Name :	S.J.M. ALLOYS & METALS LIMITED

Registered Office :	98 Westbury La, Buckhurst Hill Essex IG9 5PW

Country :	United Kingdom

Financials (as on) :	30.04.2006

Date of Incorporation :	23/04/1993

Com. Reg. No.:	02812324

Legal Form :	Private Limited Liability Company (GB)

Line of Business :	Wholesalers of ferroalloys

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Satisfactory

Payment Behaviour :	No Complaints

Litigation :	Clear

Company Identification Details


Subject Reported on	S.J.M. ALLOYS & METALS LIMITED
Trading Address	191a Princes Rd,BUCKHURST HILL,IG9 5DJ

Telephone	020-8505-2210


	Average Risk - This company has an average risk status and should be treated with a degree of caution

Credit Limit	GBP 44,200
	Selling to this company? The Credit Limit is the recommended maximum outstanding debtor exposure at any one time.

Contract Limit	GBP 296,100
	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	02812324
Date of Incorporation	23/04/1993
Registered Office	98 WESTBURY LA, BUCKHURST HILL ESSEX IG9 5PW.
Date of Last Annual Return to Registry	23/04/2007
Activities	Wholesalers of ferroalloys
Accounts	The last filed accounts cover the period to 30/04/2006 and were filed on 08/05/2007

Recently Filed Documents

Details of the most recent documents

Date Received	Description
23/04/2007	Annual Return
30/04/2006	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

STEPHEN JAMES MIDGLEY

Occupation

METAL TRADING

Address

33, PIERCING HILL THEYDON BOIS , EPPING , ESSEX , CM16 7JW

Country of Origin

BRITISH

Date of Birth

23/01/1963

Appointment Date

23/04/1993

Other Appointments

S.J.M. ALLOYS & METALS LIMITED

SECRETARY

MRS CAROLINE MIDGLEY

Address

COLONSAY 33 PIERCING HILL, THEYDON BOIS , EPPING , ESSEX , CM16 7JW

Country of Origin

BRITISH

Appointment Date

23/04/1993

Recently Resigned Directors (last 3)

None

Share Summary

Share Currency:	GBP

Priniciple Shareholders:	Type Of Share	No. of Shares	Value	%age
Mr Stephen Midgley	ORD	3,000	3,000.00	60.00
Mrs Caroline Midgley	ORD	2,000	2,000.00	40.00

Mortgages and Charges


Total Registered	2
Total Outstanding	2
Total Satisfied	0
Most Recent Mortgage	04/12/2002


Date Registered	21/12/2002
Type	395
Date Created	04/12/2002
Lender	HSBC 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	01/05/1996
Type	395
Date Created	26/04/1996
Lender	MIDLAND 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 UNCALLED CAPITAL GOODWILL, BOOKDEBTS AND PATENTS
Satisfied?	No

Public Record Information

Summary of CCJ's/Scottish Decrees

There are no unsatisfied CCJs against the company.

Operations


Activities	Wholesalers of ferroalloys
Sic Code	Description
5152	Wholesale of metals and metal ores
Staff Employed	3
Auditors	R.J. Bradshaw & Co LLP
Auditors Notes	No Qualification. The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the latest accounts.
Bankers	HSBC Bank Plc
Sort Codes	400906

Financial Data

The following figures are shown in units of 000

Profit and Loss

Number of Weeks	52	52	52	52
Accounts Date	30/04/2006	30/04/2005	30/04/2004	30/04/2003
Currency	GBP	GBP	GBP	GBP
Consolidated?	No	No	No	No
RETAINED PROFITS	-	-	-	-

Balance Sheet

Number of Weeks	52	52	52	52
Accounts Date	30/04/2006	30/04/2005	30/04/2004	30/04/2003
Currency	GBP	GBP	GBP	GBP
Consolidated?	No	No	No	No
TOTAL FIXED ASSETS	7	28	37	33
Total Fixed Assets	7	28	37	33
TOTAL CURRENT ASSETS	1,674	1,772	1,061	932
Stocks	675	428	307	232
Trade Debtors	767	1,249	589	641
Cash	232	94	165	59
TOTAL ASSETS	1,681	1,800	1,097	965
TOTAL CURRENT LIABILITIES	1,148	1,276	688	619
Other Current Liabilities	1,148	1,276	688	619
WORKING CAPITAL	527	496	373	313
TOTAL LONG TERM LIABS	0	0	2	0
Other Long Term Liabilities	0	-	2	-
NET ASSETS/(LIABILITIES)	533	524	410	346
SHARE CAPITAL + RESERVES	533	524	408	346
Issued Share Capital	5	5	5	5
Profit and Loss account	528	519	403	341
SHAREHOLDERS FUNDS	533	524	408	346
CAPITAL EMPLOYED	533	524	410	346
TANGIBLE NET WORTH	533	524	408	346

Key Credit Ratios

Accounts Date	30/04/2006	30/04/2005	30/04/2004	30/04/2003
Current Ratio	1.46	1.39	1.54	1.51
Quick Ratio	0.87	1.05	1.10	1.13
T.N.W/Total Assets	0.32	0.29	0.37	0.36
Equity Gearing	NaN	-	2.04	-
Solvency (%)	215.38	243.51	169.12	178.90

Financial Summary

Working Capital	The company's working capital improved in the period by 6%
Tangible Net Worth	Net worth increased by 9,000 during the period and now stands at GBP 533,000
Fixed Assets	The subjects fixed assets reduced during the period by GBP 21,000 to GBP 7,000 and are now 0% of total assets compared with 2% 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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