MIRA INFORM REPORT

Report Date :

04.01.2011

IDENTIFICATION DETAILS

Name :	CABLEWORLD LIMITED

Registered Office :	Unit H, Wingate IND PK, Bolton, Lancashire, BL5 3XP

Country :	United Kingdom

Financials (as on) :	30.06.2009

Date of Incorporation :	14.04.2000

Com. Reg. No.:	03973673

Legal Form :	Private Limited

Line of Business :	Distributors of Cables

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	GBP 18,500
Status :	Moderate
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 – June 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

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	CABLEWORLD LIMITED
Registration Number	03973673
VAT Number	GB634044661
Address	UNIT H, WINGATE IND PK, BOLTON, LANCASHIRE, BL5 3XP.
Telephone	01942 840200
Web Address	www.cable-world.co.uk

Creditline Recommendations

Monthly Credit Guide

GBP 18,500

Official Company Data

Legal Form	Private Limited
Registration Number	03973673
VAT Number	GB634044661
Subject Status	Trading
Date of Incorporation	14/04/2000
Registered Office	UNIT H FARSLEY PARK, WINGATES INDUSTRIAL PARK, BOLTON, BL5 3XH.
History	1/04/2009 : The Registered Office address changed from UNIT H FARSLEY PARK WINGATES, INDUSTRIAL PARK.
	Previously located at UNIT 16 MORRIS GREEN, FEARNHEAD STREET, BOLTO.
	8/11/2003 : The Registered Office address changed from UNIT 17 MORRIS GREEN BUSINESS, PARK, BOLTON,.
	Previously located at unit 17, Morris green business, fearnhead str.
	2/05/2002 : The Registered Office address changed from 12 NEW FETTER LANE, LONDON, EC4A 1AG.
	30/05/2000 : Change of name from BRAYHOLM LIMITED.
	26/04/2000 : Change of name from BRAYHOLME LIMITED.
Date of Last Annual Return to Registry	29/03/2010
Accounts	The last filed accounts at Companies House are those to 30/06/2009
Accounting Reference Date	30/06

Operations

Activities	Distributors of Cables.
Nace Code	3130
Premises	Owned,Offices,Warehouse
Staff Employed	10
Import Countries	ALL OVER THE WORLD
Export Countries	ALL OVER THE WORLD
Bankers	BANK OF INDIA
Address	BOOTH.ST MANCHESTER..
Sort Code	609291
Auditors	Bentleys
Branches	UNIT H, WINGATE IND PK, BOLTON, LANCASHIRE, BL5 3XP.
Subsidiaries	SAFEVALUE SERVICES LIMITED

Historical Rating

Date	Monthly Credit Guide
04/01/2011	18,500
04/10/2010	18,500
04/07/2010	19,000
04/04/2010	32,500
04/01/2010	28,000

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	6
Number Outstanding	5
Number Partially Satisfied	0
Number Satisfied	1

Date of Latest Mortgage Created	23/10/2008
Date of Latest Satisfaction	15/06/2004

Details of most recent Mortgages, Charges and Satisfactions

Date Fully Satisfied	Date Registered	Date Created	Charge Description	Form Type	Lender
	28/10/2008	23/10/2008	Debenture	395	Rbs Invoice Finance Limited
	16/06/2007	14/06/2007	Debenture	395	The Royal Bank Of Scotland Plc
	06/07/2005	28/06/2005	Legal Charge	395	Bank Of India
	02/08/2003	23/07/2003	Legal Charge	395	The Royal Bank Of Scotland Plc
	21/06/2003	16/06/2003	Debenture	395	Bank Of India
15/06/2004	20/05/2003	02/05/2003	Legal Charge	395	Commercial Development Projects Limited

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

19/05/2003	Companies House Gazette	Change among directors of a company
04/04/2002	Companies House Gazette	Change among directors of a company
12/02/2002	Companies House Gazette	Withdrawal of application for striking-off
23/01/2002	Companies House Gazette	Application for striking-off
20/04/2000	Companies House Gazette	Change among directors of a company

Company Secretary

Secretary	PRAVINA HITESH VEGAD
Service Address	UNIT H FARSLEY PARK WINGATES INDUST, WESTHOUGHTON, BOLTON, BL5 3XH.
Country of Origin	UNITED KINGDOM
Date of Birth	02/11/1967
Appointment Date	31/03/2002

Directors

Director	HITESH KUMAR VEGAD
Service Address	UNIT H FARSLEY PARK WINGATES INDUST, WESTHOUGHTON, BOLTON, BL5 3XH.
Country of Origin	UNITED KINGDOM
Date of Birth	03/07/1962
Appointment Date	31/03/2002
Other Directorships	SAFEVALUE SERVICES LIMITED
Director	MUNAVVAR MUNSHI
Service Address	UNIT H FARSLEY PARK WINGATES INDUST, WESTHOUGHTON, BOLTON, BL5 3XH.
Country of Origin	KENYA
Date of Birth	15/04/1960
Appointment Date	01/01/2003
Other Directorships	SAFEVALUE SERVICES LIMITED

Share Capital

Shares	Ordinary GBP 1.00
Issued Number	10,000
Principal Shareholder	3,500 Munavvar Munshi
	3,000 Mushtaq Munshi
	1,750 Pravina Vegad
	1,750 Hitesh Vegad

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

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	30/06/2009	30/06/2008	30/06/2007	30/06/2006
Currency	GBP	GBP	GBP	GBP
TOTAL FIXED ASSETS	1363	1416	1430	1460
Tangible Assets	1363	1416	1430	1460
TOTAL CURRENT ASSETS	2113	2254	1545	1503
Trade debtors	964	920	901	723
Stocks	1133	1316	631	775
Other Current Assets	16	18	13	5
Cash	16	18	13	5
TOTAL ASSETS	3476	3670	2975	2963
TOTAL CURRENT LIABILITIES	2099	2028	1383	1429
Trade creditors	2099	2028	526	1429
Short Term Loans			857
Bank Overdraft			857
WORKING CAPITAL	14	226	162	74
TOTAL LONG TERM LIABS	911	1049	1103	1152
Long Term Loans				165
Due To Directors				165
Other Liabilities				987
NET ASSETS/(LIABILITIES)	466	593	489	382
SHARE CAPITAL + RESERVES	466	593	489	382
Share Cap + Sundry Res	10	10	10	10
Revaluation Reserves	362	362	362	362
Profit and Loss account	94	221	117	10
SHAREHOLDERS FUNDS	466	593	489	382
CAPITAL EMPLOYED	1377	1642	1592	1534

Financial Comparison

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	30/06/2009	30/06/2008	30/06/2007	30/06/2006
Currency	GBP	GBP	GBP	GBP
Liquid Assets	980	938	914	728
Net Working Capital	14	226	162	74
Long Term Debt(>12 Months)				165
Other Deferred Liabs	911	1049	1103	987
Tangible Net Worth(T.N.W)	466	593	489	382
Equity	466	593	489	382
Number of Years Trading	9	8	7	6

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	30/06/2009	30/06/2008	30/06/2007	30/06/2006
Current Ratio	1	1.1	1.1	1.1
Long Term Debt/T.N.W				0.4
Quick Ratio	0.5	0.5	0.7	0.5
T.N.W/Total Assets%	13.4	16.2	16.4	12.9
Borrowing Ratio%			175.3	43.2
Equity Gearing%	15.5	19.3	19.7	14.8
Debt Gearing				43.2

Key Industry Sector Trends

Year	2009	2008	2007	2006
Sample Size	118	123	134	131
Pre-Tax Profit Margin	2.7	7.7	7.2	5.8
Current Ratio	1.9	1.9	1.8	1.7
Borrowing Ratio	131.1	83.8	44.4	(5.6)
Return on Capital	11.4	24.8	25	29.2
Creditors Days	35	35	33	36

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Manufacture of insulated wire and cable

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 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 shownon the Balance Sheet is GBP 127,000 decrease. This suggests that the Company may have made a post-tax loss of GBP 127,000.

Working Capital

The company's working capital, while remaining positive, decreased by 94 % in the period.

Net Worth

Net worth reduced by GBP 127,000 during the period and now stands at GBP 466,000.

Fixed Assets

The subject's fixed assets reduced during the year by GBP 53,000 to GBP 1,363,000 and are now 39 % of total assets compared with 38 % in the previous year.

Long Term Liabilities

The company's long term liabilities reduced during the period by 13 % and are now 195 % of net worth compared with 177 % in the previous period.

Long Term Liabilities

Long term liabilities are now 26 % of total liabilities compared with 29 % in the previous period.

Long Term Liabilities

Long term liabilities are 66 % of capital employed, an increase of 2 % over the previous period.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.67
UK Pound	1	Rs.69.45
Euro	1	Rs.59.37

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%)

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