MIRA INFORM REPORT

Report Date :

30.06.2008

IDENTIFICATION DETAILS

Name :	GLOBAL SCAFFOLDING LTD.

Registered Office :	Unit 7-8 Clifton House, 14 Wells Terrace, London, N4 3JU

Country :	United Kingdom

Financials (as on) :	31.08.2006

Date of Incorporation :	24.08.2001

Com. Reg. No.:	04276390

Legal Form :	Private Limited Liability Company (GB)

Line of Business :	Scaffolding Wholesalers to the Industry

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	GLOBAL SCAFFOLDING LTD.
Registered Office	Unit 7-8 Clifton House, 14 Wells Terrace, London, N4 3JU



	Assurances in the form of guarantees may be necessary especially if the Credit Limit assigned is required to be exceeded

Official Company Data


Legal Form	Private Limited Liability Company (GB)
Registration Number	04276390
Date of Incorporation	24/08/2001
Registered Office	Unit 7-8 Clifton House, 14 Wells Terrace, London, N4 3JU
Date of Last Annual Return to Registry	24/08/2007
Activities	Scaffolding wholesalers to the industry
Accounts	The last filed accounts cover the period to 31/08/2007 and were filed on 26/06/2008 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.

Recently Filed Documents

Details of the most recent documents

Date Received	Description
24/08/2007	Annual Return
31/08/2007	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

ZORAWAR SINGH DODD

(One or more of this director's other companies has adverse information related to it)

Occupation

COMPANY DIRECTOR

Address

50, ALDERTON HILL , LOUGHTON , ESSEX , IG10 3JB

Country of Origin

BRITISH

Date of Birth

04/05/1938

Appointment Date

10/01/2007

Other Appointments

GLOBAL SCAFFOLDING LTD., LONDON AIR.COM LIMITED, MFB ENTERPRISES LIMITED, PGI PROPERTIES LIMITED, REESE LIMITED

SECRETARY

PARMEET SINGH

Address

37 STEVENAGE ROAD, , LONDON , E6 2AU

Country of Origin

BRITISH

Date of Birth

21/05/1962

Appointment Date

10/01/2007

Recently Resigned Directors (last 3)


DIRECTOR	GURMAKH SINGH MINHAS
Occupation	DIRECTOR
Address	82 , TYCEHURST HILL , LOUGHTON , ESSEX , - -
Country of Origin	BRITISH
Date of Birth	11/06/1958
Resignation Date	01/09/2005
DIRECTOR	PATRICK JOHN MCGINLEY
Occupation	MARKETING DIRECTOR
Address	65B , BREAKSPEARS ROAD , LONDON , - -
Country of Origin	BRITISH
Date of Birth	11/10/1966
Resignation Date	01/11/2003
DIRECTOR	COMPANY DIRECTORS LIMITED -
Address	788-7 , FINCHLEY ROAD , LONDON , - -
Resignation Date	24/08/2002

Share Summary

Share Currency:	GBP

Priniciple Shareholders:	Type Of Share	No. of Shares	Value	Voting %age
Mr Z S Dodd	ORD	100	100.00	100.00

Mortgages and Charges

There are no mortgages

Public Record Information

Summary of CCJ's/Scottish Decrees

There are 1 exact unsatisfied CCJs totalling GBP 602 in the last 72 months

Details of most recent CCJ's/Scottish Decrees

30/05/2008, a Judgment of "GBP" 602 was made in NORTHAMPTON court (Case No. 8QG63095 ) against Global Scaffolding Ltd, Unit 7-8, Clifton Ho 14 Wells Terrace, London, LONDON POSTAL, N4 3JU

Operations


Activities	Scaffolding wholealers to the industry
Sic Code	Description
5162	Wholesale of construction machinery
Staff Employed	5
Bankers	National Westminster Bank PLC
Sort Codes	515014

Financial Data

Profit and Loss

Number of Weeks	52	52	52	52
Accounts Date	31/08/2006	31/08/2005	31/08/2004	31/08/2003
Currency	GBP	GBP	GBP	GBP
Units	units	units	units	units
Consolidated?	No	No	No	No
RETAINED PROFITS	-	-	-	-

Balance Sheet

Number of Weeks	52	52	52	52
Accounts Date	31/08/2006	31/08/2005	31/08/2004	31/08/2003
Currency	GBP	GBP	GBP	GBP
Units	units	units	units	units
Consolidated?	No	No	No	No
TOTAL FIXED ASSETS	0	0	0	0
TOTAL CURRENT ASSETS	266,374	65,009	3,925	61,511
Trade Debtors	234,195	12,121	-	56,605
Cash	32,179	32,888	1,628	29
TOTAL ASSETS	266,374	65,009	3,925	61,511
TOTAL CURRENT LIABILITIES	257,412	57,369	723	56,752
Trade Creditors	226,585	56,565	-	56,452
Loans From Principals	21,754	-	-	-
Taxes	114	-	-	-
Other Current Liabilities	8,959	804	723	300
WORKING CAPITAL	8,962	7,640	3,202	4,759
TOTAL LONG TERM LIABS	0	0	0	0
NET ASSETS/(LIABILITIES)	8,962	7,640	3,202	4,759
SHARE CAPITAL + RESERVES	8,962	7,640	3,202	4,759
Issued Share Capital	100	100	100	2
Profit and Loss account	8,862	7,540	3,102	4,757
SHAREHOLDERS FUNDS	8,962	7,640	3,202	4,759
CAPITAL EMPLOYED	8,962	7,640	3,202	4,759
TANGIBLE NET WORTH	8,962	7,640	3,202	4,759

Key Credit Ratios

Accounts Date	31/08/2006	31/08/2005	31/08/2004	31/08/2003
Current Ratio	1.03	1.13	5.43	1.08
Quick Ratio	-	-	-	-
T.N.W/Total Assets	0.03	0.12	0.82	0.08
Solvency (%)	2872.26	750.90	22.58	1192.52

Financial Summary

Working Capital	The company's working capital improved in the period by 17%
Tangible Net Worth	Net worth increased by 1,322 during the period and now stands at GBP 8,962,units
Long Term Liabilities	Long term liabilities are now 0% of total assets compared with 0% in the previous period

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.42.95
UK Pound	1	Rs.85.62
Euro	1	Rs.67.81

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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