MIRA INFORM REPORT

Report Date :

22.04.2011

IDENTIFICATION DETAILS

Name :	RTW (LONDON) LIMITED

Registered Office :	40 Woodborough Road, Winscombe, Avon, Bs25 1ag.

Country :	United Kingdom

Financials (as on) :	31.12.2009

Date of Incorporation :	07.05.2004

Com. Reg. No.:	05121952

Legal Form :	Private Limited Company

Line of Business :	Manufacturers and supplies of ladies clothing

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	GBP 30,500
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

Risk CategoryECGC Classification

Insignificant

Low

Moderate

High

Very High

Restricted

Off-credit

Company Identification Details

Subject Reported on	RTW (LONDON) LIMITED
Registration Number	05121952
VAT Number	GB843722917
Address	UNIT 120 BUSPACE STUDIOS, CONLAN STREET, LONDON, W10 5AP.
Telephone	020 7460 0002
Facsimile	020 7460 0003

Creditline Recommendations

Monthly Credit Guide

GBP 30,500

Payment Behaviors

( No Payment Analysis Data is Available )

Official Company Data

Legal Form	Private Limited
Registration Number	05121952
VAT Number	GB843722917
Subject Status	Trading
Date of Incorporation	07/05/2004
Registered Office	40 WOODBOROUGH ROAD, WINSCOMBE, AVON, BS25 1AG.
History	25/02/2010 : The Registered Office address changed from HILTON CONSULTING 119 THE HUB, 300 KENSAL ROA.
	22/05/2008 : The Registered Office address changed from HILTON CONSULTING, 117 BUSPACE STUDIOS, CONLA.
	24/05/2006 : The Registered Office address changed from 117 BUSPACE STUDIOS CONLAN, STREET, LONDON, W.
	9/05/2005 : The Registered Office address changed from 117 BUSPACE STUDIOS, CONLAN STREET, LONDON, W.
	13/01/2005 : The Registered Office address changed from 63 COPSE WOOD WAY, NORTHWOOD, MIDDLESEX HA6 2.
	18/08/2004 : Change of name from CLUB WORLD LIMITED.
	1/07/2004 : The Registered Office address changed from 63 COPSEWOOD WAY, NORTHWOOD, MIDDLESEX HA6 2T.
	16/06/2004 : The Registered Office address changed from THE STUDIO, ST NICHOLAS CLOSE, ELSTREE, HERTS.
Date of Last Annual Return to Registry	07/05/2010
Accounts	The last filed accounts at Companies House are those to 31/12/2009
Accounting Reference Date	31/12

Operations

Activities	Manufacturers and supplies of ladies clothing.
Nace Code	5116
Premises	Rented,Offices,Warehouse
Staff Employed	25
Import Countries	INDIA, TURKEY
Export Countries	No Export Activity
Bankers	HSBC BANK PLC
Address	LONDON.
Sort Code	430122
Auditors	Paul Venn

Historical Rating

Date	Monthly Credit Guide
22/04/2011	30,500
22/01/2011	54,000
22/10/2010	54,500
22/07/2010	54,500
22/04/2010	30,500

Previous Searches

Search History Summary

Last 3 Months	Last 6 Months	Last 12 Months
4	7	10

Search History Details

The Search History Details shows details of the most recent 40 searches

Date	Description
31/03/2011	Miscellaneous
30/03/2011	Activities of other transport agencies
09/02/2011	Other credit granting
09/02/2011	Other credit granting
18/01/2011	Other credit granting
23/11/2010	Other credit granting
23/11/2010	Other credit granting
21/09/2010	Other credit granting
26/07/2010	Other credit granting
26/07/2010	Other credit granting
15/04/2010	Miscellaneous

Public Record Information

Summary of CCJ's/Scottish Decrees

No CCJs/Scottish Decrees are recorded in our file.

Summary of Mortgages, Charges and Satisfactions

Total Number of Mortgages/Charges Registered	5
Number Outstanding	5
Number Partially Satisfied	0
Number Satisfied	0

Date of Latest Mortgage Created	16/04/2008

Details of most recent Mortgages, Charges and Satisfactions

Date Fully Satisfied	Date Registered	Date Created	Charge Description	Form Type	Lender
	24/04/2008	16/04/2008	Legal Assignment	395	Hsbc Bank Plc
	24/04/2008	16/04/2008	Debenture	395	Hsbc Bank Plc
	15/11/2005	11/11/2005	Floating Charge (All Assets)	395	Hsbc Invoice Finance (Uk) Ltd ("The Security Holder")
	04/08/2005	03/08/2005	Fixed Charge On Purchased Debts Which Fail To Vest	395	Hsbc Invoice Finance (Uk) Ltd (The Security Holder)
	21/04/2005	18/04/2005	Debenture	395	Jubilee Brecker

It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.

Other Filings and Notices

Date

Source

Description

09/09/2004	Companies House Gazette	Change among directors of a company
03/07/2004	Companies House Gazette	Change among directors of a company
23/06/2004	Companies House Gazette	Alteration in memorandum or articles of association
16/06/2004	Companies House Gazette	Change among directors of a company

Company Secretary

Secretary	MARTIN BRECKER
Service Address	14 WINDERMERE AVENUE, LONDON, NW6 6LN.
Country of Origin	UNITED KINGDOM
Date of Birth	18/05/1935
Appointment Date	11/12/2007

Directors

Director	MRS JUBILEE BRECKER
Service Address	14 WINDERMERE AVENUE, LONDON, NW6 6LN.
Country of Origin	UNITED KINGDOM
Date of Birth	01/03/1942
Appointment Date	26/08/2004
Other Directorships	RTW HOLDINGS LIMITED

Share Capital

Shares	Ordinary GBP 1.00
Issued Number	15,000
Principal Shareholder	15,000 RTW Holdings Ltd

The above reflects the principle shareholder(s) by number of shares held, irrespective of share classification type.

Holding Company

RTW HOLDINGS LIMITED

General Information

11/06/2010

Alternative number 07791013474.

Financial Data– Statutory Accounts

Profit & Loss Accounts are not available for companies categorised as small companies under the companies act.

Balance Sheet

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/12/2009	31/12/2008	31/12/2007	31/12/2006
Currency	GBP	GBP	GBP	GBP
TOTAL FIXED ASSETS	14	11	16	9
Tangible Assets	14	11	16	9
TOTAL CURRENT ASSETS	2015	1366	553	1089
Trade debtors	1781	1271	552	956
Stocks	77	87		131
Other Current Assets	157	8	1	2
Cash	157	8	1	2
TOTAL ASSETS	2029	1377	569	1098
TOTAL CURRENT LIABILITIES	1704	1087	481	1053
Trade creditors	1704	1087	481	1053
WORKING CAPITAL	311	279	72	36
NET ASSETS/(LIABILITIES)	325	290	88	45
SHARE CAPITAL + RESERVES	325	290	88	45
Share Cap + Sundry Res	15	15	15	10
Profit and Loss account	310	275	73	35
SHAREHOLDERS FUNDS	325	290	88	45
CAPITAL EMPLOYED	325	290	88	45

Financial Comparison

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/12/2009	31/12/2008	31/12/2007	31/12/2006
Currency	GBP	GBP	GBP	GBP
Liquid Assets	1938	1279	553	958
Net Working Capital	311	279	72	36
Tangible Net Worth(T.N.W)	325	290	88	45
Equity	325	290	88	45
Number of Years Trading	5	4	3	2

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	31/12/2009	31/12/2008	31/12/2007	31/12/2006
Current Ratio	1.2	1.3	1.1	1
Quick Ratio	1.1	1.2	1.1	0.9
T.N.W/Total Assets%	16	21.1	15.5	4.1
Equity Gearing%	19.1	26.7	18.3	4.3

Key Industry Sector Trends

Year	2011	2010	2009	2008
Sample Size	59	8555	13871	14105
Pre-Tax Profit Margin	24.7	10.7	8.7	8.8
Current Ratio	1.7	1.6	1.6	1.6
Borrowing Ratio	(117.2)	76.5	72.9	100.8
Return on Capital	181.7	67.3	52.3	58.1
Creditors Days	63	255	196	305

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Wholesale on a fee or contract basis

Financial Summary

Auditors Qualification

The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 31/12/2009.

No Turnover

The company's balance sheet total is less than GBP 5,600,000 and is a medium sized company as defined by the Companies Act. It is not required to disclose turnover but it is likely to be in the range of GBP 2,800,000 - GBP 11,200,000.

No Pre-Tax Profit

The Company is exempt from the requirement to file a Profit Loss Account. We note that the difference on the Profit and Loss Account shown on the Balance Sheet is GBP 35,000 increase. This suggests that the Company may have made a post-tax profit of GBP 35,000.

Working Capital

The company's working capital has improved in the period by 11 %.

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.