MIRA INFORM REPORT

Report Date :

16.02.2011

IDENTIFICATION DETAILS

Name :	RANK METAL COMPANY LIMITED
Registered Office :	722 Capability Green, Luton, Bedfordshire, Lu1 3lu
Country :	United Kingdom
Financials (as on) :	31.03.2009
Date of Incorporation :	16.01.2008
Com. Reg. No.:	06474727
Legal Form :	Private Limited Company
Line of Business :	Recycling of scrap metal

RATING & COMMENTS

MIRA’s Rating :

Ca

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 7,500
Status :	Poor
Payment Behaviour :	Unknown
Litigation :	----

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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
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 Identification Details

Subject Reported on	RANK METAL COMPANY LIMITED
Registration Number	06474727
Address	UNITS B&C RONALD CLOSE, WOBURN RD IND EST/KEMPSTON, BEDFORD, BEDFORDSHIRE, MK42 7SH.
Telephone	0800 987 8822

Creditline Recommendations

Monthly Credit Guide

GBP 7,500

Official Company Data

Legal Form	Private Limited
Registration Number	06474727
Subject Status	Trading
Date of Incorporation	16/01/2008
Registered Office	722 CAPABILITY GREEN, LUTON, BEDFORDSHIRE, LU1 3LU.
History	31/01/2011 : The Registered Office address changed from 3RD FLOOR, 5 LLOYDS AVENUE, LONDON, EC3N 3AE.
	29/01/2010 : The Registered Office address changed from 3RD FLOOR 5 LLOYD'S AVENUE, LONDON, EC3N 3AE,.
	27/02/2009 : The Registered Office address changed from 2 AC COURT HIGH STREET, THAMES DITTON, SURREY.
	10/04/2008 : The Registered Office address changed from ABBEY BUSINESS CENTRE, 450 BATH ROAD, HEATHRO.
	8/03/2008 : The Registered Office address changed from 24 BUCKINGHAM GATE, LONDON, SW1E 6LB, SW1E 6L.
Date of Last Annual Return to Registry	16/01/2010
Accounts	The last filed accounts at Companies House are those to 31/03/2009
Accounting Reference Date	30/09

Operations

Activities	Recycling of scrap metal.
Nace Code	7487
Branches	RONALD CL, WOBURN RD IND EST/KEMPSTON BEDF, BEDFORDSHIRE, MK42 7SH.

Historical Rating

Date	Monthly Credit Guide
15/02/2011	7,500
15/11/2010	9,500
15/08/2010	11,000
15/05/2010	27,500
15/02/2010	28,500

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	3
Number Outstanding	2
Number Partially Satisfied	0
Number Satisfied	1
Date of Latest Mortgage Created	09/07/2010
Date of Latest Satisfaction	20/02/2010

Details of most recent Mortgages, Charges and Satisfactions

Date Fully Satisfied	Date Registered	Date Created	Charge Description	Form Type	Lender
	20/07/2010	09/07/2010	A Supplemental Debenture	MG01	Bank Of London And The Middle East Plc (The Bank)
	11/02/2010	03/02/2010	Debenture	MG01	Bank Of London And The Middle East Plc
20/02/2010	24/01/2009	22/01/2009	Debenture	395	Hsbc 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

10/02/2009	Companies House Gazette	Change among directors of a company
10/04/2008	Companies House Gazette	Change among directors of a company

Company Secretary

Secretary	AMICORP (UK) SECRETARIES LIMITED
Service Address	3RD FLOOR 5 LLOYDS AVENUE, LONDON, EC3N 3AE.
Country of Origin	UNITED KINGDOM
Appointment Date	17/02/2009

Directors

Director	MR AMIT KUMAR NARANG
Service Address	355 POCKET E, MAYVR VIHAR PHASE II, DELHI, 110091.
Country of Origin	INDIA
Date of Birth	31/12/1966
Appointment Date	16/01/2008
Other Directorships	RANK METAL HOLDINGS LIMITED

Share Capital

Shares	Ordinary GBP 0.25
Issued Number	450
Principal Shareholder	450 Rank Metal Holdings Ltd

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

Holding Company

RANK METAL HOLDINGS LIMITED

General Information

12/11/2010 

We have been unable to confirm if the Company is VAT registered. 

Number of employees - Unconfirmed. 

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	63
Accounts Date	31/03/2009
Currency	GBP
TOTAL FIXED ASSETS	281
Tangible Assets	281
TOTAL CURRENT ASSETS	820
Trade debtors	233
Other Current Assets	587
Misc Current Assets	554
Cash	33
TOTAL ASSETS	1101
TOTAL CURRENT LIABILITIES	328
Trade creditors	210
Short Term Loans	33
Bank Overdraft	33
Other Liabilities	85
WORKING CAPITAL	492
TOTAL LONG TERM LIABS	539
NET ASSETS/(LIABILITIES)	234
SHARE CAPITAL + RESERVES	234
Share Cap + Sundry Res	150
Profit and Loss account	84
SHAREHOLDERS FUNDS	234
CAPITAL EMPLOYED	773

Financial Comparison

The following figures are shown in units of 1000

Number of Weeks	63
Accounts Date	31/03/2009
Currency	GBP
Liquid Assets	266
Net Working Capital	492
Other Deferred Liabs	539
Tangible Net Worth(T.N.W)	234
Equity	234
Number of Years Trading	1

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	31/03/2009
Current Ratio	2.5
Quick Ratio	2.5
T.N.W/Total Assets%	21.3
Borrowing Ratio%	14.1
Equity Gearing%	27

Key Industry Sector Trends

Year	2010	2009	2008	2007
Sample Size	99999	99999	99999	99999
Pre-Tax Profit Margin	22.2	13.5	16.6	19.2
Current Ratio	1.6	1.9	1.8	1.8
Borrowing Ratio	41.6	36.1	44.7	37.1
Return on Capital	113.5	48.6	58.6	82.1
Creditors Days	146	175	206	150

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Miscellaneous business activities not elsewhere classified

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.

Working Capital

At the end of the period the company had working capital of GBP 492,000, current ratio of 2.5 and a quick ratio of 2.5.

Net Worth

Net worth was GBP 234,000.

Long Term Liabilities

Long term liabilities were GBP 539,000 which are 49 % of total liabilities and 70 % of capital employed.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.50
UK Pound	1	Rs.73.07
Euro	1	Rs.61.63

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.