MIRA INFORM REPORT

Report Date :

22.04.2011

IDENTIFICATION DETAILS

Correct Name :	BHALLATEX LTD
Formerly Known As :	BHALLATEX FABRICS LTD
Registered Office :	93 Parker Drive, Leicester, LE4 0JP
Country :	United Kingdom
Financials (as on) :	31.12.2009
Date of Incorporation :	11.02.2003
Com. Reg. No.:	04662446
Legal Form :	Private limited with Share Capital
Line of Business :	Wholesale of textiles

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 :	£10,000
Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
United Kingdom	a1	a1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company summary

Top of Form

Company Name	BHALLATEX LTD	Company Number	04662446
Registered Address	93 PARKER DRIVE	Trading Address	93 Parker Drive Leicester LE4 0JP
	LEICESTER
	LE4 0JP
Website Address	-
Telephone Number	01162363660	Fax Number
TPS	No	FPS	No
Incorporation Date	11/02/2003	Company Status	Active - Accounts Filed
Previous Name	BHALLATEX FABRICS LTD	Type	Private limited with Share Capital
		Filing Date of Accounts	21/07/2010
Date of Change	31/01/2005	Share Capital	£12
Sic Code	5141	Currency	GBP
Sic Description	WHOLESALE OF TEXTILES
Principal Activity

Credit Limit

Limit	£10,000	Previous Limit	£2,500
Contract Limit	£20,000

Commentary

No exact match CCJs are recorded against the company.
The credit limit on this company has risen 300% in comparison to the previously suggested credit limit.
There is insufficient data to indicate a change in this companies percentage of sales.
In the previous 12 month trading period Net Worth increased by 54.9%.
A 29.2% growth in Total Assets occurred in the previous 12 month trading period.
There is insufficient data to indicate a change in this companies pre-tax profit.
The company is exempt from audit.
No recent changes in directorship are recorded.
The company is not part of a group.
The positive change in the P&L Account Reserve suggests that the company made a profit after tax and other appropriations.
The company was established over 8 years ago.

Last 3 Years Credit Limit

Date	Limit
31/12/2010	£10,000
31/12/2009	£2,500
31/12/2008	£500

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/12/2009	-	-	£68,971	-
31/12/2008	-	-	£44,518	-
31/12/2007	-	-	£15,416	-

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	0

Exact CCJ Details

There are no exact CCJ details

Possible CCJ Details

There are no possible CCJ details

Writ Details

There are no writ details

Mortgage Summary

Outstanding		1
	Satisfied		0

Total Current Directors	4
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	2

Current Directors

Name	Sanjay Bhalla	Date of Birth	09/11/1970
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	13/02/2003
Address	15 Toller Road,  ,  Leicester,  LE2 3HP
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Mukat Sarup Bhalla	Date of Birth	07/01/1935
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	13/02/2003
Address	15 Toller Road,  ,  Leicester,  LE2 3HP
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Anil Bhalla	Date of Birth	09/11/1970
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	13/02/2003
Address	Apartment 503 Metropolitan,  Apartments Lee Street,  Leicester,  LE1 3RF
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Bimal Roy Bhalla	Date of Birth	14/08/1965
Officers Title	Mr	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	13/02/2003
Address	15 Carisbrooke Road,  Knighton,  Leicester,  LE2 3PF
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	Geeta Bhalla	Date of Birth	19/04/1968
Officers Title	Ms	Nationality	British
Present Appointments	1	Function	Company Secretary
Appointment Date	13/02/2003
Address	15 Carisbrooke Road,  ,  Leicester,  LE2 3PF
Other Actions		View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Top 20 Shareholders

Name	Individual Share Value
ANIL BHALLA	3 ORDINARY GBP 1.00
SANJAY BHALLA	3 ORDINARY GBP 1.00
MUKAT SARUP BHALLA	3 ORDINARY GBP 1.00
BIMAL ROY BHALLA	3 ORDINARY GBP 1.00

Profit & Loss

Date Of Accounts	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06	(%)	31/12/05
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	-	-	-	-	-	-	-	-	-
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages & Salaries	-	-	-	-	-	-	-	-	-
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	-	-	-	-	-	-	-	-	-
Depreciation	£2,653	-13.7%	£3,073	10.5%	£2,782	-	-	-	-
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06	(%)	31/12/05
Tangible Assets	£15,540	64.4%	£9,451	-21.6%	£12,057	-	0	-	0
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£15,540	64.4%	£9,451	-21.6%	£12,057	-	0	-	0
Stock	£196,641	35.8%	£144,774	-23.8%	£189,982	-	0	-	0
Trade Debtors	£306,108	23.9%	£246,974	143.7%	£101,346	-	0	-	0
Cash	0	-	0	-	0	-100%	£12	-	£12
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£502,749	28.3%	£391,748	34.5%	£291,328	999.9%	£12	-	£12
Trade Creditors	£364,897	29%	£282,931	-1.7%	£287,969	-	0	-	0
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	£78,407	6.3%	£73,750	-	0	-	0	-	0
Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	0
Total Current Liabilities	£443,304	24.3%	£356,681	23.9%	£287,969	-	0	-	0
Bank Loans & Overdrafts and LTL	£6,014	-	0	-	0	-	0	-	0
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£6,014	-	0	-	0	-	0	-	0

Capital & Reserves

Date Of Accounts	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06	(%)	31/12/05
Called Up Share Capital	£12	-	£12	-	£12	-	£12	-	£12
P & L Account Reserve	£68,959	54.9%	£44,506	188.9%	£15,404	-	-	-	-
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£68,971	54.9%	£44,518	188.8%	£15,416	999.9%	£12	-	£12

Other Financial Items

Date Of Accounts	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06	(%)	31/12/05
Net Worth	£68,971	54.9%	£44,518	188.8%	£15,416	999.9%	£12	-	£12
Working Capital	£59,445	69.5%	£35,067	944%	£3,359	999.9%	£12	-	£12
Total Assets	£518,289	29.2%	£401,199	32.2%	£303,385	999.9%	£12	-	£12
Total Liabilities	£449,318	26%	£356,681	23.9%	£287,969	-	-	-	-
Net Assets	£68,971	54.9%	£44,518	188.8%	£15,416	999.9%	£12	-	£12

Cash Flow

Date Of Accounts	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06	(%)	31/12/05
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06	(%)	31/12/05
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£74,985	68.4%	£44,518	188.8%	£15,416	999.9%	£12	-	£12
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers
Bank Branch Code

Ratios

Date Of Accounts	31/12/09	31/12/08	31/12/07	31/12/06	31/12/05
Pre-tax profit margin %	-	-	-	-	-
Current ratio	1.13	1.10	1.01	-	-
Sales/Net Working Capital	-	-	-	-	-
Gearing %	8.70	0	0	0	0
Equity in %	13.30	11.10	5.10	100	100
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	0.69	0.69	0.35	-	-
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	6.42	8.01	18.67	-	-
Total Debt Ratio	6.51	8.01	18.67	-	-
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

Status History

No Status History found

Event History

Date	Description
17/02/2011	Annual Returns
31/07/2010	New Accounts Filed
31/07/2010	New Accounts Filed
31/03/2010	Annual Returns
21/09/2009	New Accounts Filed
21/09/2009	New Accounts Filed
18/02/2009	Annual Returns
02/10/2008	New Accounts Filed
04/03/2008	Annual Returns
31/01/2008	New Board Member Mr B.R. Bhalla appointed
05/06/2007	New Accounts Filed
14/05/2006	New Accounts Filed
05/07/2005	New Accounts Filed
03/02/2005	Change of Name
05/03/2004	the annual account type changed

Limit History

Date	Limit
31/07/2010	£10,000
20/02/2009	£2,500
02/10/2008	£500
30/09/2008	£1,000
05/03/2004	£0

Previous Company Names

Date	Previous Name	Companies House Documents
31/01/2005	BHALLATEX FABRICS LTD
25/02/2003	BHALLTEX FABRICS LTD

Exact CCJ Details

No CCJs found

Possible CCJs Details

There are no possible CCJ details

Writ Details

No writs found

Mortgage Details

Mortgage Type:	DEBENTURE
Date Charge Created:	19/04/07
Date Charge Registered:	25/04/07
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	CLYDESDALE BANK PLC
Amount Secured:	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 FIXTURESFIXED PLANT AND MACHINERY

Creditor Details

No Creditor Data
Total Value	-

Trade Debtors / Bad Debt Detail

No Debtor Data
Total Value	-

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
FORM 10 DIRECTORS FD LTD	120	99274
FORM 10 SECRETARIES FD LTD	140	87061

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.33
UK Pound	1	Rs.72.92
Euro	1	Rs.64.69

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	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

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.