MIRA INFORM REPORT

Report Date :

29.01.2011

IDENTIFICATION DETAILS

Name :	TECHNIX RUBBER & PLASTICS LIMITED

Formerly Known As :	TECHNIX RUBBER & PLASTIC LIMITED

Registered Office :	Unit 14 Bottings Indus Estate, Hillsons Road, Southampton, Hampshire, So30 2dy.

Country :	United Kingdom

Financials (as on) :	30.06.2009

Date of Incorporation :	19.01.1989

Com. Reg. No.:	02336704

Legal Form :	Private Limited Company

Line of Business :	Manufacturers And Suppliers of Rubber Products

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 1,650
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 – 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	TECHNIX RUBBER & PLASTICS LIMITED
Registration Number	02336704
Address	UNIT 14 BOTTINGS INDUS ESTATE, HILLSONS ROAD, SOUTHAMPTON, HAMPSHIRE, SO30 2DY.
Telephone	01489 789 944
Facsimile	01489 798 866
Email	sales@technix-rubber.com
Web Address	www.technix-rubber.com

Creditline Recommendations

Monthly Credit Guide

GBP 1,650

Official Company Data

Legal Form	Private Limited
Registration Number	02336704
Subject Status	Trading
Date of Incorporation	19/01/1989
Registered Office	UNIT 14, BOTTINGS INDUSTRIAL ESTATE, HILLSONS ROAD BOTLEY, SOUTHAMPTON HAMPSHIRE, SO30 2DY.
History	14/01/2003 : The Registered Office address changed from UNITS 12-13 CITY COMMERCE CENTRE, MARSH LANE,.
	28/06/2000 : The Registered Office address changed from UNIT 13, CITY COMMERCE CENTRE, MARSH LANE, SO.
	13/03/1992 : The Registered Office address changed from 10 ROMSEY ROAD, EASTLEIGH, HAMPSHIRE, SO5 4A.
	17/02/1989 : Change of name from TECHNIX RUBBER & PLASTIC LIMITED.
Date of Last Annual Return to Registry	30/06/2010
Accounts	The last filed accounts at Companies House are those to 30/06/2009
Accounting Reference Date	30/06

Operations

Activities	Manufacturers and suppliers of rubber products.
Nace Code	2513
Premises	Leased,Offices,Factory
Staff Employed	26
Import Countries	No Import Activity
Export Countries	No Export Activity
Bankers	BARCLAYS BANK PLC
Address	30 HIGH STREET, SOUTHAMPTON, SO9 7AB.
Auditors	Ray Davis

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	3
Number Partially Satisfied	0
Number Satisfied	0

Date of Latest Mortgage Created	16/12/2009

Details of most recent Mortgages, Charges and Satisfactions

Date Fully Satisfied	Date Registered	Date Created	Charge Description	Form Type	Lender
	22/12/2009	16/12/2009	Fixed Floating Charge	MG01	Barclays Bank Plc
	25/03/1989	23/03/1989	Legal Charge	N/A	Barclays Bank Plc
	16/03/1989	06/03/1989	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

22/10/2004	Companies House Gazette	Alteration in memorandum or articles of association
11/02/2002	Companies House Gazette	Change among directors of a company
18/07/1994	Companies House Gazette	Change among directors of a company
16/08/1990	Companies House Gazette	Change among directors of a company
25/01/1989	Companies House Gazette	Change among directors of a company

Company Secretary

Secretary	MS JAYNE ELIZABETH KEITH
Service Address	7 WALKER GARDENS, HEDGE END, SOUTHAMPTON, HAMPSHIRE, SO30 2RH.
Country of Origin	UNITED KINGDOM
Date of Birth	04/05/1957
Appointment Date	01/02/2004

Directors

Director	MR RICHARD LYNCH
Service Address	35 PAINSWICK CLOSE, SARISBURY GREEN, SOUTHAMPTON, SO31 7EQ.
Country of Origin	UNITED KINGDOM
Date of Birth	16/07/1964
Appointment Date	31/05/1991
Managing Director	MR PAUL COLLINS
Service Address	BANK COTTAGE, UPHAM STREET UPHAM, SOUTHAMPTON, SO32 1JD.
Country of Origin	UNITED KINGDOM
Date of Birth	06/03/1959
Appointment Date	31/05/1991

Share Capital

Shares	Ordinary GBP 1.00
Issued Number	400
Shares	Ordinary B GBP 1.00
Issued Number	225
Principal Shareholder	250 Paul Collins
	150 Richard Lynch
	100 Jayne Keith
	40 Rebekah Stephenson
	33 Susan Collins
	28 Philipra Lynch
	24 Shaun Good

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.

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	83	80	78	27
Tangible Assets	55	38	22	27
Intangible Assets	28	42	56
TOTAL CURRENT ASSETS	945	744	622	574
Trade debtors	644	532	494	464
Stocks	300	211	125	91
Other Current Assets	1	1	3	19
Cash	1	1	3	19
TOTAL ASSETS	1028	824	700	601
TOTAL CURRENT LIABILITIES	941	678	659	556
Trade creditors	941	678	659	556
WORKING CAPITAL	4	66	(37)	18
TOTAL LONG TERM LIABS	31	18
NET ASSETS/(LIABILITIES)	56	128	41	45
SHARE CAPITAL + RESERVES	56	128	41	45
Share Cap + Sundry Res	1	1	1
Profit and Loss account	55	127	40	45
SHAREHOLDERS FUNDS	56	128	41	45
CAPITAL EMPLOYED	87	146	41	45

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	645	533	497	483
Net Working Capital	4	66	(37)	18
Other Deferred Liabs	31	18
Tangible Net Worth(T.N.W)	28	86	(15)	45
Equity	56	128	41	45
Number of Years Trading	20	19	18	17

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	0.9	1
Quick Ratio	0.7	0.8	0.8	0.9
T.N.W/Total Assets%	2.7	10.4	(2.1)	7.5
Borrowing Ratio%
Equity Gearing%	5.8	18.4	6.2	8.1

Key Industry Sector Trends

Year	2010	2009	2008	2007
Sample Size	192	509	520	522
Pre-Tax Profit Margin	(5.4)	2.6	2.7	4
Current Ratio	1.6	1.6	1.6	1.6
Borrowing Ratio	51	40.3	15.1	34.2
Return on Capital	43.9	14.9	22.7	19.8
Creditors Days	60	33	40	40

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Manufacture of rubber products

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 72,000 decrease. This suggests that the Company may have made a post-tax loss of GBP 72,000.

Working Capital

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

Net Worth

Net worth reduced by GBP 72,000 during the period and now stands at GBP 56,000.

Fixed Assets

The subject's fixed assets increased during the year by GBP 3,000 to GBP 83,000 and are now 8 % of total assets compared with 9 % in the previous year.

Long Term Liabilities

The company's long term liabilities increased during the period by 72% and are now 55 % of net worth compared with 14 % in the previous period.

Long Term Liabilities

Long term liabilities are now 3 % of total liabilities compared with 2 % in the previous period.

Long Term Liabilities

Long term liabilities are 36 % of capital employed, an increase of 24 % over the previous period.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.74
UK Pound	1	Rs.72.73
Euro	1	Rs.62.73

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.