MIRA INFORM REPORT

Report Date :

19.09.2008

IDENTIFICATION DETAILS

Name :	WESTBROOK RESOURCES LIMITED
Formerly Known as :	Broomco (2281) Limited
Registered Office :	Westbrook House Wreakes Lane, Dronfield, Sheffield, S18 1LY
Country :	United Kingdom
Financials (as on) :	31.12.2006
Date of Incorporation :	22.08.2000
Legal Form :	Private Limited With Share Capital
Line of Business :	Wholesale of Metals and Metal Ores

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 :	[£] 200,000
Status :	Good
Payment Behaviour :	No Complaints
Litigation :	Clear

Name of the company

WESTBROOK RESOURCES LIMITED

Number 04057615

company summary

Phone	01246290545	Type	Private limited with Share Capital
Address	WESTBROOK HOUSE WREAKES LANE, DRONFIELD, SHEFFIELD, S18 1LY	Company Status	Active - Accounts Filed
Postcode	S18 1LY	Incorporated Date	22/08/2000

Todays Limit [£] 200,000

Active CCJ's 0

Value of CCJ's [£] £0

Number Of Writs 0

Current Directors 4

Total Directorships 8

Trading to Date 31/12/06 31/12/05 31/12/04

Turnover £56,025,989 £81,944,000 £40,005,000

Shareholder Funds £4,865,853 £8,586,000 £5,413,000

Employees 26 24 6

Trends

Profitability

Liquidity

Shareholders Funds

company information

Registered Address		Trading Address
Telephone Number	01246290545	Telephone Number	01246 292292
TPS	N	TPS
Address		Address
WESTBROOK HOUSE WREAKES LANE DRONFIELD SHEFFIELD S18 1LY		Westbrook House Wreakes Lane Dronfield Sheffield S18 1LY

Web Address wbrl.co.uk Incorporation Date 22/08/2000

Type of Accounts Group Filing Date of Accounts 12/09/2008

Company Type Private Limited With Share Capital Date of Latest Accounts 31/12/2006

Annual Return 30/06/2008

Previous Name(s)

Changed: 20/09/2000 Broomco (2281) Limited

Industry:

Distribution Of Ferro Alloys. Accounts Data Converted From Us Dollar.

SIC Code Description

5152 Wholesale Of Metals & Metal Ores

Mortgage Charges

Outstanding 4 Satisfied 2

Shareholders

Share Capital 200000 Currency Gbp

Previous Names Details

Previous Name(s)

Changed : 20/09/2000 Broomco (2281) Limited

Secondary Industry Code Details

SIC Code Description

5152 Wholesale Of Metals & Metal Ores

Mortgage Details

Mortgage Type:	mortgage debenture
Date Charge Created:	11/07/2008	Date Charge Registered:	12/07/2008
Date Charge Satisfied:		Status:	Outstanding
Person(s) Entitled:	DBS BANK LIMITED
Amount Secured:	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 charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery. see image for full details

Mortgage Type:	a security deed
Date Charge Created:	11/06/2008	Date Charge Registered:	26/06/2008
Date Charge Satisfied:		Status:	Outstanding
Person(s) Entitled:	DBS BANK LIMITED
Amount Secured:	all monies due or to become due from the company to the chargee on any account whatsoever
Details:	the chargor assigns and charges and will assign and charge to the bank with full title gurantee the charged assets as a continuing security for the due and punctual payment and discharge of the liabilities. see image for full details

Mortgage Type:	mortgage debenture
Date Charge Created:	28/03/2006	Date Charge Registered:	08/04/2006
Date Charge Satisfied:		Status:	Outstanding
Person(s) Entitled:	SINGER & FRIEDLANDER LIMITED
Amount Secured:	all monies due or to become due from the company to the chargee or any receiver on any account whatsoever under the terms of the aforementioned instrument creating or evidencing the charge
Details:	01 fixed and floating charges over the undertaking and all property and assets present and future including goodwill bookdebts uncalled capital buildings fixturesfixed plant and machinery.

Mortgage Type:	general charge of receivables and contract rights
Date Charge Created:	21/03/2006	Date Charge Registered:	22/03/2006
Date Charge Satisfied:		Status:	Outstanding
Person(s) Entitled:	SINGER & FRIEDLANDER LIMITED
Amount Secured:	all monies due or to become due from the company to the chargee on any account whatsoever.
Details:	all right title benefits and interest in and to all receivables being any contra ct of purchase or sale financed wholly o r in part directly or indirectly by the bank any monies arising from such contra ct

Mortgage Type:	fixed charge on purchased debts which fail to vest
Date Charge Created:	16/05/2005	Date Charge Registered:	17/05/2005
Date Charge Satisfied:	05/05/2006	Status:	Satisfied
Person(s) Entitled:	HSBC INVOICE FINANCE (UK) LTD (THE SECURITY HOLDER)
Amount Secured:	all monies due or to become due from the company to the chargee under the termsof the aforementioned instrument creating or evidencing the charge
Details:	by way of fixed equitable charge all deb ts purchased or purported to be purchase d by the security holder pursuant to an agreement for the purchase of debts betw een the security holder and the company (including associated rights relating th ereto) which fail to vest effectively or absolutely in the security holder for a ny reason

Mortgage Type:	debenture
Date Charge Created:	04/05/2001	Date Charge Registered:	11/05/2001
Date Charge Satisfied:	05/05/2006	Status:	Satisfied
Person(s) Entitled:	HSBC BANK PLC
Amount Secured:	all monies due or to become due from the company to the chargee on any account whatsoever.
Details:	01 fixed and floating charges over the undertaking and all property and assets present and future including goodwill bookdebts uncalled capital buildings fixturesfixed plant and machinery.

Shareholders Details

Name Shares

Westbrook Holdings Ltd 100,000 Ordinary Gbp 1.00

Westbrook Resources Ltd 50,000 A Gbp 1.00

Westbrook Holdings Ltd 50,000 A Gbp 1.00

Trading Address Details

Address	Telephone Number	TCPS
WESTBROOK HOUSE WREAKES LA DRONFIELD DERBYSHIRE S18 1LY	01246292292	N
WESTBROOK HOUSE WREAKES LA DRONFIELD DERBYSHIRE S18 1LY	01246292293	N
Westbrook House Wreakes Lane Dronfield Sheffield S18 1LY
WESTBROOK HOUSE WREAKES LA DRONFIELD DERBYSHIRE S18 1LY	01246292293	N
WESTBROOK HOUSE WREAKES LA DRONFIELD DERBYSHIRE S18 1LY	01246292292	N

accounts

PROFIT & LOSS

Annual Accounts	01/06-12/06	Change (%)	01/05-12/05	Change (%)	01/04-12/04
Months	12	-	12	-	12
Currency	GBP	-	GBP	-	GBP
Consolidated A/cs	Y	-	Y	-	Y
Turnover	56,025,989	-31.6 %	81,944,000	104.8 %	40,005,000
Export	-	-	46,604,000	25.4 %	37,163,000
Cost of Sales	51,809,872	-29.4 %	73,338,000	145.9 %	29,828,000
Gross Profit	4,216,117	-51.0 %	8,606,000	-15.4 %	10,177,000
Wages & Salaries	1,044,518	-32.1 %	1,539,000	33.0 %	1,157,000
Directors Emoluments	400,711	-43.1 %	704,000	9.0 %	646,000
Operating Profits	1,641,880	-63.9 %	4,542,000	-41.0 %	7,701,000
Depreciation	45,951	999.9%	4,000	-	-
Audit Fees	15,811	-1.2 %	16,000	33.3 %	12,000
Interest Payments	566,234	-10.0 %	629,000	231.1 %	190,000
Pre Tax Profit	1,083,552	-72.5 %	3,935,000	-47.6 %	7,512,000
Taxation	-362,666	70.0 %	-1,210,000	44.9 %	-2,195,000
Profit After Tax	720,885	-73.5 %	2,725,000	-48.7 %	5,317,000
Dividends Payable	-	-	-	-	-
Retained Profits	720,885	-73.5 %	2,725,000	-48.7 %	5,316,000

BALANCE SHEET

Annual Accounts	01/06-12/06	Change (%)	01/05-12/05	Change (%)	01/04-12/04
Tangible Assets	126,983	999.9%	6,000	-53.8 %	13,000
Intangible Assets	-	-	-	-	-
Total Fix Assets	126,983	999.9%	6,000	-53.8 %	13,000
Total Current Assets	17,924,799	-28.0 %	24,906,000	-3.8 %	25,888,000
Trade Debtors	7,799,792	-23.7 %	10,218,000	-11.6 %	11,553,000
Stock	9,591,877	-31.7 %	14,034,000	-0.1 %	14,051,000
Cash	415,040	5.6 %	393,000	-	-
Other Current Assets	118,089	-54.8 %	261,000	-8.4 %	285,000
Increase In Cash	22,040	-94.4 %	393,000	230.1 %	-302,000
Miscellaneous Current Assets	-	-	-	-	-
Total Assets	18,051,781	-27.5 %	24,912,000	-3.8 %	25,901,000
Total Current Liabilities	13,185,928	-19.2 %	16,326,000	-20.3 %	20,488,000
Trade Creditors	3,242,255	-41.4 %	5,533,000	157.0 %	2,153,000
Bank Overdraft	8,948,565	2.5 %	8,731,000	22.8 %	7,110,000
Other Short Term Fin	78,561	-84.4 %	505,000	-93.3 %	7,486,000
Miscellaneous Current Liabilities	916,547	-41.1 %	1,557,000	-58.4 %	3,740,000
Other Long Term Fin	-	-	-	-	-
Total Long Term Liabilities	-	-	-	-	-
Bank Overdraft & LTL	8,948,565	2.5 %	8,731,000	22.8 %	7,110,000
Total Liabilities	13,185,928	-19.2 %	16,326,000	-20.3 %	20,488,000
Net Assets	4,865,853	-43.3 %	8,586,000	58.6 %	5,413,000
Working Capital	4,738,871	-44.8 %	8,580,000	58.9 %	5,400,000

CAPITALS & RESERVES

Annual Accounts	01/06-12/06	Change (%)	01/05-12/05	Change (%)	01/04-12/04
Paid up equity	99,807	-30.2 %	143,000	83.3 %	78,000
P&L Account Reserve	4,744,800	-43.8 %	8,444,000	58.2 %	5,336,000
Sundry Reserves	21,246	-	-	-	-
Revaluation Reserve	-	-	-	-	-
Shareholder Funds	4,865,853	-43.3 %	8,586,000	58.6 %	5,413,000
Net Worth	4,865,853	-43.3 %	8,586,000	58.6 %	5,413,000

MISCELLANEOUS

Annual Accounts	01/06-12/06	Change (%)	01/05-12/05	Change (%)	01/04-12/04
Net Cashflow from Operations	2,957,656	-15.6 %	3,505,000	17.0 %	2,997,000
Net Cashflow before Financing	1,684,866	179.9 %	602,000	-80.9 %	3,159,000
Net Cashflow from Financing	-3,145,906	-	-	-	-
Contingent Liability	YES	-	YES	-	YES
Capital Employed	4,865,853	-43.3 %	8,586,000	58.6 %	5,413,000
No of Employees	26	8.3 %	24	300.0 %	6

Auditors	GRANT THORNTON UK LLP
AuditQualification	No Adverse Comments
Bankers	HSBC BANK PLC
BankBranchCode	40-41-07

RATIOS

Annual Accounts	01/06-12/06	01/05-12/05	01/04-12/04
Pre-tax profit margin %	1.9 %	4.8 %	18.8 %
Current ratio	1.36	1.53	1.26
Sales/Net Working Capital	11.82	9.55	7.41
Gearing %	183.9 %	101.7 %	131.4 %
Equity in %	27.0 %	34.5 %	20.9 %
Creditor Days	21.06	24.65	19.64
Debtor Days	50.68	45.51	105.41
Liquidity/Acid Test	0.63	0.67	0.58
Return On Capital Employed %	22.3 %	45.8 %	138.8 %
Return On Total Assets Employed %	6.0 %	15.8 %	29.0 %
Current Debt Ratio %	2.7 %	1.9 %	3.8 %
Total Debt Ratio %	2.7 %	1.9 %	3.8 %
Stock Turnover Ratio %	17.1 %	17.1 %	35.1 %
Return on Net Assets Employed %	22.3 %	45.8 %	138.8 %

Credit Limit Explanation

The Recommended Credit Limit is calculated using a formula that analyses information from a company's financial accounts and payment record.
The advised amount can be defined as the maximum amount that could be advanced in any one calendar month, assuming standard payment terms of 30 days beyond the month of invoice. Therefore the same maximum amount could be advanced in the next calendar month.

Date Description

29/10/2007 Good Credit Worthiness

24/08/2006 Very Good Credit Worthiness

05/04/2006 Very Good Credit Worthiness

17/03/2006 Very Good Credit Worthiness

28/03/2005 Very Good Credit Worthiness

group structure

Ultimate Parent Company WESTBROOK HOLDINGS LIMITED

Companies in Group 2

Company Name Registered Number Latest Annual Accounts

WESTBROOK HOLDINGS LIMITED 06432224 N/A

WESTBROOK RESOURCES LIMITED<<< 04057615 31/12/2006

Status History

Date Description

No Status History

Event History

Date Description

01/08/2008 Annual Returns

24/07/2008 Change In Reg.office

07/05/2008 Mr G. Barelli Has Left The Board

29/10/2007 New Accounts Filed

17/07/2006 Calro Arturoghezzi Has Left The Board

05/04/2006 New Accounts Filed

03/04/2006 New Company Secretary (lee Grahambruce) Appointed

17/03/2006 William Francis Gilderoyglossop Has Left The Board

15/07/2005 New Board Member (giorgio Barelli) Appointed

28/03/2005 New Accounts Filed

10/02/2005 John Jamescunningham Has Left The Board

22/12/2004 New Board Member (calro Arturoghezzi) Appointed

30/10/2004 New Accounts Filed

20/10/2004 New Board Member (john Jamescunningham) Appointed

18/10/2004 New Board Member (lee Grahambruce) Appointed

directors

Name	Shaun  Walton	Locate the home address of this director
Address	Moor Lodge	Individual report for this director
	Sugworth
	Sheffield
	South Yorkshire
	S6 6JA
Officers Title	Mr	Date Of Birth	26/04/1966
Honours		Present Appointments	4
Appointment Date	13/09/2000	Function	Director

Name	Lee Graham Bruce
Address	Baskerville Manor
	14 Sandown Close Eckington
	Sheffield
	South Yorkshire
	S21 4HT
Officers Title	Mr	Date Of Birth	04/02/1971
Honours		Present Appointments	3
Appointment Date	14/03/2006	Function	Company Secretary

Name	Lee Graham Bruce
Address	Baskerville Manor
	14 Sandown Close Eckington
	Sheffield
	South Yorkshire
	S21 4HT
Officers Title	Mr	Date Of Birth	04/02/1971
Honours		Present Appointments	3
Appointment Date	11/08/2004	Function	Director

Name	Ian Paul Howe
Address	21 Sherwood Glen
	Sheffield
	S7 2RB
Officers Title	Mr	Date Of Birth	27/02/1963
Honours		Present Appointments	1
Appointment Date	04/11/2002	Function	Director

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.46.32
UK Pound	1	Rs.83.57
Euro	1	Rs.65.90

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