MIRA INFORM REPORT

Report Date :

04.03.2008

IDENTIFICATION DETAILS

Name :	H&H BANCROFT WINES LIMITED
Registered Office :	1 China Wharf, Mill Street, London, SE1 2BQ
Country :	United Kingdom
Financials (as on) :	31.03.2007
Date of Incorporation :	20.8.999
Com. Reg. No.:	03829460
Legal Form :	Private Limited Liability Company (GB)
Line of Business :	Wholesalers of Wne

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Maximum Credit Limit :	GBP   66,400
Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

Company Identification Details

Subject Reported on	H&H BANCROFT WINES LIMITED
Ultimate Holding Company	H&H BANCROFT WINES LTD
Trading Address	China Wharf,29 Mill St,LONDON,SE1 2BQ
Telephone	020-7232-5450

	This company has an average risk status and should be treated with a degree of caution
Credit Limit	GBP   66,400
	Selling to this company? The Credit Limit is the recommended maximum outstanding debtor exposure at any one time.
Contract Limit	GBP   362,800
	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	03829460
Date of Incorporation	20/08/1999
Registered Office	1 China Wharf, Mill Street, London, SE1 2BQ
Date of Last Annual Return to Registry	20/08/2007
Activities	Wholesalers of wine
Accounts	The last filed accounts cover the period to 31/03/2007

Recently Filed Documents

Details of the most recent documents

Date Received	Description
20/08/2007	Annual Return
31/03/2007	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	PETER CHARLES DE HAAN  (One or more of this director's other companies has adverse information related to it)
Occupation
Address	1 CHINA WHARF ,  MILL STREET , LONDON , SE1 2BQ
Date of Birth	24/03/1952
Appointment Date	31/10/1999
Other Appointments	ADAM BANCROFT ASSOCIATES LIMITED, ADM GROUP MAILING SERVICES LIMITED, ADMS FULFILMENT CENTRE LIMITED, BORADA LIMITED, D H PROPERTY INVESTMENTS LIMITED, DATABASE INTERNATIONAL (UK) LIMITED, DATAFONIX LIMITED, DOWNSTREAM ACCESS LIMITED, EQS ASSOCIATES LIMITED, EUROWIDE TELEMANAGEMENT SOLUTIONS LIMITED, H & H FINE WINES LIMITED, H&H BANCROFT WINES LIMITED, OPTECON LIMITED, OPUS 101 LIMITED, OPUS 102 LIMITED, OPUS PROPERTY FINANCE LIMITED, OPUS TRUST GROUP LIMITED, OPUS TRUST LIMITED, OPUS TRUST MARKETING LIMITED, OTM FULFILMENT LIMITED, OTM MAILING LIMITED, VERSATILE FURNITURE SOLUTIONS LIMITED
DIRECTOR	ANDREW CHARLES LAVERY  (One or more of this director's other companies has adverse information related to it)
Occupation	DIRECTOR
Address	FOREST SIDE COTTAGE ,  BOUNDARY ROAD , FARNHAM , SURREY , GU10 4EP
Country of Origin	BRITISH
Date of Birth	04/04/1964
Appointment Date	01/07/2002
Other Appointments	ADAM BANCROFT ASSOCIATES LIMITED, ADM GROUP MAILING SERVICES LIMITED, ADMS FULFILMENT CENTRE LIMITED, ANKLEDOCK LIMITED, BANCROFT WINES LIMITED, BARTLETT LAVERY LIMITED, BARTLETT MILLER LIMITED, BORADA LIMITED, BRITTENDEN PROPERTY DEVELOPMENTS LIMITED, BRITTENDEN PROPERTY SERVICES LIMITED, C. WHARF LIMITED, D H PROPERTY INVESTMENTS LIMITED, DATABASE INTERNATIONAL (UK) LIMITED, DATAFONIX LIMITED, DOWNSTREAM ACCESS LIMITED, EQS ASSOCIATES LIMITED, EUROWIDE TELEMANAGEMENT SOLUTIONS LIMITED, H & H FINE WINES LIMITED, H&H BANCROFT WINES LIMITED, OCTAGON PRINT SERVICES LIMITED, OPTECON LIMITED, OPUS 101 LIMITED, OPUS 102 LIMITED, OPUS CORPORATE TRUSTEES LIMITED, OPUS PROPERTY FINANCE LIMITED, OPUS PROPERTY INVESTMENT LIMITED, OPUS RESIDENTIAL INVESTMENTS , OPUS TRUST GROUP LIMITED, OPUS TRUST LIMITED, OPUS TRUST MARKETING LIMITED, OTM FULFILMENT LIMITED, OTM MAILING LIMITED, SHELFCO (NO.1769) LIMITED, STANLEY GROVE LIMITED, VERSATILE FURNITURE SOLUTIONS LIMITED
DIRECTOR	DAVID SIMON CHARLES ROUND
Occupation	DIRECTOR
Address	4,  LENTON RISE , RICHMOND , SURREY , TW9 2TP
Country of Origin	BRITISH
Date of Birth	03/10/1966
Appointment Date	27/04/2004
Other Appointments	H&H BANCROFT WINES LIMITED
DIRECTOR	ROBIN PIERS GONVILLE GERMAN
Occupation	SALES DIRECTOR
Address	55,  IDMISTON ROAD , LONDON , SE27 9HL
Date of Birth	15/03/1969
Appointment Date	27/04/2004
Other Appointments	H&H BANCROFT WINES LIMITED
DIRECTOR	NEIL  MCANDREW
Occupation	SALES DIRECTOR
Address	3,  ICKLINGHAM ROAD WEST STOW , BURY ST EDMUNDS , SUFFOLK , IP28 6EZ
Date of Birth	07/07/1969
Appointment Date	27/04/2004
Other Appointments	H&H BANCROFT WINES LIMITED
SECRETARY	MR  ANDREW LAVERY
Address	FOREST SIDE COTTAGE,  BOUNDARY ROAD , FARNHAM , SURREY , GU10 4EP
Country of Origin	BRITISH
Date of Birth	04/04/1964
Appointment Date	01/07/2002

Recently Resigned Directors (last 3)

DIRECTOR	CHRISTIAN PIERRE HONORERZ
Occupation	WINE MERCHANT
Address	29 , HOLLOW LANE , HUNTINGDON , CAMBS , - -
Country of Origin	FRENCH
Date of Birth	27/03/1959
Resignation Date	27/11/2003
DIRECTOR	TOM  HEYWOOD-LONSDALE
Occupation	COMPANY DIRECTOR
Address	STOW COTTAGE , MOUNT FARM , CHIPPING NORTON , OXON , - -
Country of Origin	BRITISH
Date of Birth	04/07/1953
Resignation Date	12/11/2003
DIRECTOR	DAVID  TILYARD
Occupation	DIRECTOR
Address	60 , WRIGHTS WAY , BURY ST EDMUNDS , SUFFOLK , - -
Country of Origin	BRITISH
Date of Birth	10/10/1964
Resignation Date	29/04/2003

Share Summary

Share Currency:	GBP
Priniciple Shareholders:	Type Of Share	No. of Shares	Value	%age
Mr Peter De Haan		2,000,000	2,000,000.00	100.00
Mr Peter De Haan	ORD	250,000	250,000.00	26.00
Trustees Of Mjs De Haan 1989 Settlement Trust	ORD	717,000	717,000.00	74.00

Mortgages and Charges

Total Registered	2
Total Outstanding	2
Total Satisfied	0
Most Recent Mortgage	12/12/2005

Date Registered	23/12/2005
Type	395
Date Created	12/12/2005
Lender	PETER DE HAAN
Secured On	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE 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	07/02/2001
Type	395
Date Created	05/02/2001
Lender	THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND
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

Public Record Information

Summary of CCJ's/Scottish Decrees

There are no unsatisfied CCJs against the company.

Operations

Activities	Wholesalers of wine
Sic Code	Description
5134	Wholesale of alcoholic and other beverages
Staff Employed	25
Auditors	Reeves & Neylan LLP
Auditors Notes	No Qualification. The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the latest accounts.
Bankers	Bank of Scotland
Sort Codes	802000

Financial Data

The following figures are shown in units of 000

Profit and Loss

Number of Weeks	52	52	52	52
Accounts Date	31/03/2007	30/09/2005	30/09/2004	30/09/2003
Currency	GBP	GBP	GBP	GBP
Consolidated?	No	No	No	No
RETAINED PROFITS	-	-	-	-

Balance Sheet

Number of Weeks	52	52	52	52
Accounts Date	31/03/2007	30/09/2005	30/09/2004	30/09/2003
Currency	GBP	GBP	GBP	GBP
Consolidated?	No	No	No	No
TOTAL FIXED ASSETS	22	11	21	86
Total Fixed Assets	22	11	-	-
TOTAL CURRENT ASSETS	2,812	1,955	1,962	1,873
Stocks	894	907	1,072	928
Trade Debtors	1,844	1,004	813	532
Cash	75	45	58	83
TOTAL ASSETS	2,834	1,965	1,984	1,959
TOTAL CURRENT LIABILITIES	1,872	1,146	921	1,308
Other Current Liabilities	1,872	1,146	2	161
WORKING CAPITAL	940	809	1,042	565
TOTAL LONG TERM LIABS	310	285	185	185
Other Long Term Liabilities	310	285	-	-
NET ASSETS/(LIABILITIES)	963	819	1,063	651
SHARE CAPITAL + RESERVES	653	534	878	466
Issued Share Capital	3,186	2,786	2,786	2,250
Share Premium Accounts	264	264	264	-
Profit and Loss account	-2,797	-2,516	-2,172	-1,784
SHAREHOLDERS FUNDS	653	534	878	466
CAPITAL EMPLOYED	963	819	1,063	651
TANGIBLE NET WORTH	653	534	878	466

Key Credit Ratios

Accounts Date	31/03/2007	30/09/2005	30/09/2004	30/09/2003
Current Ratio	1.50	1.71	2.13	1.43
Profit Before Tax	-	-	-0.10	-0.07
Creditors Days (D.P.O)	-	-	16.48	29.69
Quick Ratio	1.02	0.91	0.97	0.72
Return on Assets	-	-	-19.62	-14.19
T.N.W/Total Assets	0.23	0.27	0.44	0.24
Return on Capital	-	-	-36.59	-42.70
Working Capital/Sales	-	-	0.00	0.00
Equity Gearing	0.02	0.02	-	-
Stock Turnover	-	-	0.01	0.01
Solvency (%)	334.15	267.98	125.97	320.39

Financial Summary

Working Capital	The company's working capital improved in the period by 16%
Tangible Net Worth	Net worth increased by 119,000 during the period and now stands at GBP  653,000
Fixed Assets	The subjects fixed assets increased during the period by GBP  11,000 to GBP  22,000 and are now 1% of total assets compared with 1% in the previous period
Long Term Liabilities	The company's long term liabilities increased during the period by 9% and are now 47% of net worth compared with 53% in the previous period
Long Term Liabilities	Long term liabilities are now 11% of total assets compared with 15% 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%)

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