MIRA INFORM REPORT

Report Date :

10.08.2011

IDENTIFICATION DETAILS

Name :	METALAS (U.K.) LIMITED

Registered Office :	19 Guithavon Street, Witham, Essex, CM8 1BL.

Country :	United Kingdom

Financials (as on) :	31.12.2009

Date of Incorporation :	10.05.1979

Com. Reg. No.:	01418747

Legal Form :	Private Limited

Line of Business :	Suppliers The supply of industrial cleaning equipment.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	GBP 1,200

Status :	Poor

Payment Behaviour :	Unknown

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 – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

United Kingdom

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

Company Identification Details

Subject Reported on	METALAS (U.K.) LIMITED
Registration Number	01418747
Address	MOORCROFT HOUSE, MALDON ROAD, CHELMSFORD, ESSEX, CM3 2JP.
Telephone	01245 380798

Creditline Recommendations

Monthly Credit Guide

GBP 1,200

Official Company Data

Legal Form	Private Limited
Registration Number	01418747
Subject Status	Trading
Date of Incorporation	10/05/1979
Registered Office	19 GUITHAVON STREET, WITHAM, ESSEX, CM8 1BL.
History	9/02/2006 : The Registered Office address changed from 17 ENSIGN HOUSE, ADMIRALS WAY CANARY WHARF, L.
	21/12/2005 : The Registered Office address changed from 19 GUITHAVON STREET, WITHAM, ESSEX, CM8 1BL,.
Date of Last Annual Return to Registry	24/10/2010
Accounts	The last filed accounts at Companies House are those to 31/12/2009
Accounting Reference Date	31/12

Operations

Activities	Suppliers The supply of industrial cleaning equipment.
Nace Code	5114
Premises	Offices
Staff Employed	4
Bankers	BARCLAYS BANK PLC
Auditors	Conway Fielden Gough

Previous Searches

Search History Summary

Last 3 Months	Last 6 Months	Last 12 Months
0	0	0

Search History Details

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

Date	Description
01/12/2009	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	2
Number Outstanding	1
Number Partially Satisfied	0
Number Satisfied	1

Date of Latest Mortgage Created	17/02/1999
Date of Latest Satisfaction	21/04/1999

Details of most recent Mortgages, Charges and Satisfactions

Date Fully Satisfied	Date Registered	Date Created	Charge Description	Form Type	Lender
	18/02/1999	17/02/1999	Fixed Charge On Book Debts	395	Cooperatieve Rabobank "Hardinxveld-Giessendam" B.A.
21/04/1999	17/10/1984	08/10/1984	Debenture	N/A	Barclays Bank Plc

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

04/10/2008	Companies House Gazette	Change among directors of a company
05/12/2006	Companies House Gazette	Change among directors of a company
04/12/2006	Companies House Gazette	Change among directors of a company
09/02/2006	Companies House Gazette	Change among directors of a company
21/01/2006	Companies House Gazette	Change among directors of a company
27/07/2004	Companies House Gazette	Change among directors of a company
25/03/1996	Companies House Gazette	Change among directors of a company
08/11/1995	Companies House Gazette	Change among directors of a company
14/10/1988	Companies House Gazette	Change among directors of a company
01/07/1988	Companies House Gazette	Documents delivered by a company under section 241 (annual accounts)
12/01/1988	Companies House Gazette	Documents delivered by a company under section 241 (annual accounts)
17/06/1987	Companies House Gazette	Change in the situation of a company's registered office

Directors

Managing Director	MARINUS PIETER VAN SLIEDREGT
Service Address	HET GROENEVELD 18, PL HENDR IDO AMBACHT, ZUID, 3343 PL.
Country of Origin	NETHERLANDS
Date of Birth	16/03/1961
Appointment Date	01/11/2006

Share Capital

Shares	Ordinary GBP 1.00
Issued Number	20,000
Principal Shareholder	10,000 Foelie Boheer BV
	10,000 Landszoom Boheer BV

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

Ultimate Parent

METALAS CLEANING SYSTEMS BV, a company incorporated in NETHERLANDS

Financial Data– Statutory Accounts

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

For annual accounts images, view the

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	25	13	15	16
Tangible Assets	25	13	15	16
TOTAL CURRENT ASSETS	226	237	142	234
Trade debtors	168	155	91	166
Stocks	10	11	26	27
Other Current Assets	48	71	25	41
Cash	48	71	25	41
TOTAL ASSETS	251	250	157	250
TOTAL CURRENT LIABILITIES	48	70	41	101
Trade creditors	48	70	41	101
WORKING CAPITAL	178	167	101	133
TOTAL LONG TERM LIABS	377	347	271	282
NET ASSETS/(LIABILITIES)	(174)	(167)	(155)	(133)
SHARE CAPITAL + RESERVES	(174)	(167)	(155)	(133)
Share Cap + Sundry Res	4	4	4	4
Profit and Loss account	(178)	(171)	(159)	(137)
SHAREHOLDERS FUNDS	(174)	(167)	(155)	(133)
CAPITAL EMPLOYED	203	180	116	149

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	216	226	116	207
Net Working Capital	178	167	101	133
Other Deferred Liabs	377	347	271	282
Tangible Net Worth(T.N.W)	(174)	(167)	(155)	(133)
Equity	(174)	(167)	(155)	(133)
Number of Years Trading	30	29	28	27

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	4.7	3.4	3.5	2.3
Quick Ratio	4.5	3.2	2.8	2
T.N.W/Total Assets%	(69.3)	(66.8)	(98.7)	(53.2)
Equity Gearing%	(40.9)	(40)	(49.7)	(34.7)

Key Industry Sector Trends

Year	2011	2010	2009	2008
Sample Size	606	10860	13857	14065
Pre-Tax Profit Margin	30.5	10.5	8.7	8.8
Current Ratio	1.8	1.6	1.6	1.6
Borrowing Ratio	36	77.9	76.2	101.3
Return on Capital	67.2	60.2	53	57.8
Creditors Days	219	234	201	304

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

Financial Summary

Auditors Qualification

The company has taken advantage of exemptions under the Companies Act such that the accounts have not been audited or examined.

No Turnover

The company's balance sheet total is less than GBP 2,800,001 and therefore this is a small company as defined by the Companies Act.It is not required to disclose turnover but it is likely to be less than GBP 5,600,000.

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 shownon the Balance Sheet is GBP 7,000 decrease. This suggests that the Company may have made a post-tax loss of GBP 7,000.

Working Capital

The subject's working capital has improved by 11,000 in the period.

Net Worth

The company's negative net worth increased during the year by GBP 7,000 and is now deficient by GBP 174,000.

Fixed Assets

The subject's fixed assets increased during the year by GBP 12,000 to GBP 25,000 and are now 9 % of total assets compared with 5 % in the previous year.

Long Term Liabilities

The company's long term liabilities increased during the period by 8% and are now 217 % of net worth compared with 208 % in the previous period.

Long Term Liabilities

Long term liabilities are now 150 % of total liabilities compared with 139 % in the previous period.

Long Term Liabilities

Long term liabilities are 186 % of capital employed, a decrease of 7 % over the previous period.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.17
UK Pound	1	Rs.73.72
Euro	1	Rs.64.26

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
--	NB	New Business	--

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.