MIRA INFORM REPORT

Report Date :

15.07.2008

IDENTIFICATION DETAILS

Name :	RAXTON LIMITED
Registered Office :	121 The Mount, York, North Yorkshire YO24 1DU
Country :	United Kingdom
Financials (as on) :	31.12.2007
Date of Incorporation :	28.06.1977
Com. Reg. No.:	01319188
Legal Form :	Private Limited Liability Company (GB)
Line of Business :	Manufactures of Electrical Components

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

Maximum Credit Limit :	GBP   339,200
Status :	Very Good
Payment Behaviour :	Regular
Litigation :	Clear

Company Identification Details

Subject Reported on	RAXTON LIMITED
Holding Company	Mount (York) Ltd
Ultimate Holding Company	MOUNT (YORK) LTD
Trading Address	Unit 1, Kingsway South,Westgate, Aldridge,WALSALL,WS9 8FS
Telephone	01922-450400

	There is every confidence this company will prove good for the assigned Credit Limit
Credit Limit	GBP   339,200
	Selling to this company? The Credit Limit is the recommended maximum outstanding debtor exposure at any one time.
Contract Limit	GBP   2,747,300
	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	01319188
Date of Incorporation	28/06/1977
Registered Office	121 The Mount, York, North Yorkshire YO24 1DU
Date of Last Annual Return to Registry	10/10/2007
Activities	Manufactures of electrical components
Accounts	The last filed accounts cover the period to 31/12/2007 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
10/10/2007	Annual Return
31/12/2007	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	DAVID NEIL STANHAM
Occupation	DIRECTOR
Address	18,  MALLOW CLOSE , BROADSTONE , DORSET , BH18 9NT
Country of Origin	BRITISH
Date of Birth	11/11/1953
Appointment Date	01/06/2007
Other Appointments	HI-FLOW VALVES LIMITED, MOUNT (YORK) LIMITED, RAXTON LIMITED, REDAPT ENGINEERING CO. LIMITED
DIRECTOR	ALAN  MCCLUE
Occupation	DIRECTOR
Address	WOODSIDE LODGE ,  KNOWLE ROAD , BROCKENHURST , HANTS , SO42 7SN
Country of Origin	BRITISH
Date of Birth	22/04/1947
Appointment Date	30/05/2007
Other Appointments	BRAY INDUSTRIES LIMITED, COUNTY DOORS LIMITED, MOUNT (YORK) LIMITED, MOUNT ENGINEERING PLC , RAXTON LIMITED
DIRECTOR	COLIN ERNEST DAVIES  (One or more of this director's other companies has adverse information related to it)
Occupation	DIRECTOR
Address	THE GRANARY ,  ESCRICK ROAD , YORK , YO19 6BQ
Country of Origin	BRITISH
Date of Birth	11/10/1957
Appointment Date	30/05/2007
Other Appointments	ACCESS CORPORATE FINANCE LIMITED, ACCESS INTELLIGENCE PLC , ARKLOW ENGINEERING LIMITED, ASHFIELD EXTRUSION LIMITED, BRAY INDUSTRIES LIMITED, CAUSEWAY CARPETS LIMITED, CRITICALBID LIMITED, HAVERSTRONG LIMITED, HI-FLOW VALVES LIMITED, ILG REALISATIONS (NO. 1) LIMITED, ILG REALISATIONS (NO. 15) LIMITED, ILG REALISATIONS (NO. 17) LIMITED, ILG REALISATIONS (NO. 18) LIMITED, ILG REALISATIONS (NO. 2) LIMITED, ILG REALISATIONS (NO. 3) LIMITED, ILG REALISATIONS (NO. 4) LIMITED, INTER LINK FOOD GROUP LIMITED, INTER LINK FOODS PLC, INTERNET MARKETING LIMITED, KIDS SAFETYNET LIMITED, MANAGEMENT SERVICES 2000 LIMITED, MOUNT (YORK) LIMITED, MOUNT ENGINEERING PLC , RAXTON LIMITED, READYMARKET LIMITED, REDAPT ENGINEERING CO. LIMITED, THE REEL CABLE COMPANY LIMITED, YORK EARLY MUSIC PRESS LIMITED
SECRETARY	MR  PHILIP ASHWORTH
Address	ST ANNS WHARF,  112 QUAYSIDE , NEWCASTLE UPON TYNE , TYNE & WEAR , NE1 3DX
Country of Origin	BRITISH
Date of Birth	11/06/1958
Appointment Date	30/05/2007

Recently Resigned Directors (last 3)

DIRECTOR	ANTHONY  HARPER
Occupation	COMPANY DIRECTOR
Address	35A , GORWAY ROAD , WALSALL , - -
Country of Origin	BRITISH
Date of Birth	27/02/1945
Resignation Date	30/05/2007
DIRECTOR	MR MALCOLM KEITH WILD
Occupation	TECHNICAL DIRECTOR
Address	73 , QUESLETT ROAD , BIRMINGHAM , - -
Country of Origin	BRITISH
Date of Birth	14/07/1942
Resignation Date	30/05/2007
DIRECTOR	RAYMOND LESLIE WILLIAMS
Occupation	COMPANY DIRECTOR
Address	64 , SYTCH LANE , WOLVERHAMPTON , - -
Country of Origin	BRITISH
Date of Birth	09/09/1944
Resignation Date	30/05/2007

Share Summary

Share Currency:	GBP
Principal Shareholders:	Type Of Share	No. of Shares	Value	Voting %age
Mount (York) Ltd	ORD	100	100.00	100.00

Mortgages and Charges

Total Registered	2
Total Outstanding	2
Total Satisfied	0
Most Recent Mortgage	30/05/2007

Date Registered	01/06/2007
Type	395
Date Created	30/05/2007
Lender	CLYDESDALE BANK PLC (TRADING AS YORKSHIRE BANK)
Secured On	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	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 SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Satisfied?	No
Date Registered	01/06/2007
Type	395
Date Created	30/05/2007
Lender	YORKSHIRE BANK
Secured On	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	LAND AND BUILDINGS ON THE SOUTH EAST SIDE OF WESTGATE ALDRIDGE TNO WM604681 ASSIGNS THE GOODWILL OF ALL BUSINESSES FROM TIME TO TIME CARRIED ON AT THE PROPERTY WITH THE BENEFIT OF ALL AUTHORISATIONS PERMITS REGISTRATION CERTIFICATES OR LICENCES OF ANY KIND ALSO BY WAY OF FIXED CHARGE THE EQUIPMENT AND GOODS (IF ANY) AND ALL OTHER FIXTURES FITTINGS PLANT AND MACHINERY AND BY WAY OF FLOATING CHARGE ON OTHER MOVEABLE PLANT MACHINERY FURNITURE EQUIPMENT GOODS AND OTHER EFFECTS WHICH FROM TIME TO TIME ON THE PROPERTY
Satisfied?	No

Public Record Information

Summary of CCJ's/Scottish Decrees

There are no unsatisfied CCJs against the company.

Operations

Activities	Manufactures of electrical components
Sic Code	Description
3162	Manufacture of other electrical equipment not elsewhere classified
Staff Employed	40
Auditors	PKF
Auditors Notes	No Qualification. The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the latest accounts.
Bankers	Lloyds TSB Bank Plc
Sort Codes	309906

Financial Data

Profit and Loss

Number of Weeks	52	52	52	52
Accounts Date	31/12/2007	31/12/2006	31/12/2005	31/12/2004
Currency	GBP	GBP	GBP	GBP
Units	units	units	units	units
Consolidated?	No	No	No	No
SALES	4,058,305	-	-	-
Export Sales	1,442,060	-	-	-
Cost of goods sold	2,034,454	-	-	-
GROSS PROFIT	2,023,851	-	-	-
Other Expenses	123,847	-	-	-
General administration costs (-)	815,577	-	-	-
Wages and Salaries	818,126	-	-	-
Depreciation	46,471	-	-	-
Net Operating Profit(Loss)	1,084,427	-	-	-
Non Trading Income	11,261	-	-	-
Total Non Trading Income	11,261	-	-	-
Financial Expenses	0	-	-	-
PRE TAX PROFIT	1,095,688	-	-	-
Other Taxation	-559	-	-	-
Taxation	330,000	-	-	-
PROFIT AFTER TAX	766,247	-	-	-
Net Profit	766,247	-	-	-
Dividends Payable	0	-	-	-
RETAINED PROFITS	766,247	-	-	-

Balance Sheet

Number of Weeks	52	52	52	52
Accounts Date	31/12/2007	31/12/2006	31/12/2005	31/12/2004
Currency	GBP	GBP	GBP	GBP
Units	units	units	units	units
Consolidated?	No	No	No	No
TOTAL FIXED ASSETS	663,069	150,612	133,682	133,415
Land & buildings	563,108	-	-	-
Plant, machinery & equipment	99,961	-	-	-
TOTAL CURRENT ASSETS	2,423,074	2,017,084	1,690,149	1,476,799
Stocks	508,659	709,506	488,868	488,518
Trade Debtors	788,885	771,900	497,577	490,834
Prepaid expenses	1,743	-	-	-
Group Loans	1,053,872	-	-	-
Cash	69,915	535,678	703,704	497,447
TOTAL ASSETS	3,086,143	2,167,696	1,823,831	1,610,214
TOTAL CURRENT LIABILITIES	610,308	457,549	681,989	711,396
Trade Creditors	174,789	-	-	-
Taxes	395,383	-	-	-
Other Current Liabilities	4,663	457,549	681,989	711,396
Accruals & deferred income	35,473	-	-	-
WORKING CAPITAL	1,812,766	1,559,535	1,008,160	765,403
TOTAL LONG TERM LIABS	3,267	3,826	1,289	1,138
Taxation	3,267	-	-	-
NET ASSETS/(LIABILITIES)	2,475,835	1,710,147	1,141,842	898,818
SHARE CAPITAL + RESERVES	2,472,568	1,706,321	1,140,553	897,680
Issued Share Capital	100	100	100	100
Profit and Loss account	2,472,468	1,706,221	1,140,453	897,580
SHAREHOLDERS FUNDS	2,472,568	1,706,321	1,140,553	897,680
CAPITAL EMPLOYED	2,475,835	1,710,147	1,141,842	898,818
TANGIBLE NET WORTH	2,472,568	1,706,321	1,140,553	897,680

Key Credit Ratios

Accounts Date	31/12/2007	31/12/2006	31/12/2005	31/12/2004
Current Ratio	3.97	4.41	2.48	2.08
Profit Before Tax	0.27	-	-	-
Creditors Days (D.P.O)	31.36	-	-	-
Quick Ratio	3.14	2.86	1.76	1.39
Return on Assets	35.50	-	-	-
T.N.W/Total Assets	0.80	0.79	0.63	0.56
Return on Capital	44.26	-	-	-
Working Capital/Sales	0.00	-	-	-
Equity Gearing	7.57	4.46	8.85	7.89
Stock Turnover	0.00	-	-	-
Solvency (%)	24.82	27.04	59.91	79.38

Financial Summary

Pre Tax	The subject made a profit of GBP  1,095,688,units compared with a profit of GBP  NaN,units in the previous period.
Working Capital	The company's working capital improved in the period by 16%
Tangible Net Worth	Net worth increased by 766,247 during the period and now stands at GBP  2,472,568,units
Fixed Assets	The subjects fixed assets increased during the period by GBP  512,457 to GBP  663,069,units and are now 21% of total assets compared with 7% in the previous period
Long Term Liabilities	The company's long term liabilities reduced during the period by 15% and are now 0% of net worth compared with 0% in the previous period
Long Term Liabilities	Long term liabilities are now 0% of total assets compared with 0% in the previous period

Previous Searches on this Company

Last 3 Months	Last 6 Months	Last 12 Months
1	1	4

FOREIGN EXCHANGE RATES

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

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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