MIRA INFORM REPORT

Report Date :

29.06.2011

IDENTIFICATION DETAILS

Name :	Sri Apparels Limited

Registered Office :	1 Ontario Terracerathminesdublin 6dublin 6

Country :	Ireland

Financials (as on) :	31.12.2009

Date of Incorporation :	20.02.2008

Com. Reg. No.:	IE453610

Legal Form :	Single Member Private Company Limited By Shares

Line of Business :	The wholesale of clothing and accesories under the CAT brand

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 :	65,000€
Status :	Good
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 – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Ireland

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

REGISTERED NAME & COMPANY SUMMARY

Company Summary
Company Name	SRI APPAREL LIMITED
Company Number	IE453610
Telephone Number
Address	1 ONTARIO TERRACE, RATHMINES, DUBLIN 6, DUBLIN 6
Town Code	216410
Company Type	SINGLE MEMBER PRIVATE COMPANY LIMITED BY SHARES
Incorporation Date	20/02/2008

CREDIT RECOMENDATION

Current Credit Limit: 65,000€

DIRECTORS/MANAGEMENT

Director Summary
Directorships
Total Directorships

Directors

Director
Directors Title
Name of Director	MATTHEW BROWNING GALLINGER,
Address of Director	3645 HARPAR,, BILLINGS MONTANA 59102, UNITED STATES OF AMERICA
Postcode of Director
Date of Birth	15/07/1974
Nationality of Director
Director Honours
Present Appointments	2
Function	Director
Appointment Date	20/02/2008

Director
Directors Title
Name of Director	SEAN PATRICK GALLINGER
Address of Director	11 GALLATIN DRIVE B,, BOZEMAN MONTANA 59715,, UNITED STATES
Postcode of Director
Date of Birth	01/06/1976
Nationality of Director
Director Honours
Present Appointments	2
Function	Director
Appointment Date	20/02/2008

Director
Directors Title
Name of Director	KURTIS CHARLES TOLLIVER
Address of Director	1375 MOOSE POINT ROAD,, BOZEMAN MONTANA 59715,, UNITED STATES OF AMERICA
Postcode of Director
Date of Birth	26/07/1967
Nationality of Director
Director Honours
Present Appointments	2
Function	Director
Appointment Date	20/02/2008

Director
Directors Title
Name of Director	KENNETH D TOLLIVER
Address of Director	6335 STRATTON ROAD,, BILLINGS MT 59101,, UNITED STATES OF AMERICA
Postcode of Director
Date of Birth	23/06/1945
Nationality of Director
Director Honours
Present Appointments	4
Function	Company Secretary
Appointment Date	20/02/2008

Director
Directors Title
Name of Director	KENNETH D TOLLIVER
Address of Director	6335 STRATTON ROAD,, BILLINGS MT 59101,, UNITED STATES OF AMERICA
Postcode of Director
Date of Birth	23/06/1945
Nationality of Director
Director Honours
Present Appointments	4
Function	Director
Appointment Date	20/02/2008

Director
Directors Title
Name of Director	LORRAINE, DIVVER GALLINGER,
Address of Director	6336 STRATTON ROAD,, BILLINGS MONTANA 59101,, UNITED STATES OF AMERICA
Postcode of Director
Date of Birth	02/09/1947
Nationality of Director
Director Honours
Present Appointments	2
Function	Director
Appointment Date	20/02/2008

Director
Directors Title
Name of Director	EAMONN MACKEN
Address of Director	4, WESTERN RISE,, BALLINTEER,, DUBLIN 16.
Postcode of Director
Date of Birth	12/04/1934
Nationality of Director
Director Honours
Present Appointments	2
Function	Director
Appointment Date	17/02/2010

NEGATIVE INFORMATION

CCJ Summary

CCJ Summary
CCJ's Amount	0
CCJ's Value (€)	0
Writs	0

SHARE & SHARE CAPITAL INFORMATION

Details

Shareholders information
Shares Held	25,000
Currency of Share	EUR

Name of Shareholder	J.P. DIVVER HOLDING COMPANY LTD
Nominal Value of each Share
Currency of Share	EUR

PAYMENT INFORMATION

Record of Payments

No record of payments for company.

GROUP STRUCTURE & AFFILIATED COMPANIES

Group Structure

No Group Structure for this company.

FINANCIAL INFORMATION

Financial Information
Date	31/12/2009	%	31/12/2008
Currency	NaN		NaN
Turnover	0	-	0
Shareholder Equity	310,928	60.4%	193,843
Number of employees	6	-	6

Accounts & Ratios

Period
Date From	01/01/2009	%	02/01/2008
Date To	31/12/2009	-	31/12/2008
Period of Month	12	-	12
Currency	EUR	-	EUR
Profit & Loss
Consolidated Accounts	N	-	N
Turnover	0	-	0
Export	-	-	-
Cost of Sales	-	-	-
Gross Profit	1,749,063	17.1%	1,493,200
Operating Profit	173,300	27.3%	136,138
Pre-Tax Profit	134,774	-1.0%	136,166
Tax	-17,689	5.5%	-18,723
Post-Tax Profit	117,085	-0.3%	117,443
Dividends	0	-	0
Retained Profit	117,085	-0.3%	117,443
Interest Payable	38,526	-	0
Directors Remuneration	-	-	-
Wages & Salaries	0	-	0
Depreciation of Tangibles	0	-	0
Auditor Fees	8,525	-	0

Capitals & Reserves
Called up Share Capital	30,446	0.0%	30,446
P&L Account Reserve	234,527	99.7%	117,443
Sundry Reserves	45,955	0.0%	45,955
Revaluation Reserve	0	-	0
Shareholder Funds	310,928	60.4%	193,843
Net Worth	310,928	60.4%	193,843

Miscellaneous
Net Cashflow from Operations	309,533	161.1%	-506,774
Net Cashflow before Financing	49,222	-90.8%	534,803
Net Cashflow from Financing	49,222	-90.8%	534,803
Capital Employed	818,553	25.5%	652,246
No of Employees	6	0.0%	6

Balance Sheet
Tangible Assets	0		-			0
Intangible Assets	0		-			0
Total Fixed Assets	0		-			0
Stocks & Work-in-Progress	0		-100.0%			26,377
Debtors
- Trade Debtors	1,956,274		109.6%			933,492
Cash	348,285		1,141.3%			28,057
Misc. Current Assets	0			-			0
Total Current Assets
Creditors
- Trade Creditors	1,220,077		84.7%			660,621
- Bank Overdraft	0		-			0
Increase in Cash	320,228		-			0
Total Current Liabilities	1,486,006		70.7%			870,483
Other Short Term Loans	0		-			0
Miscellaneous Current Liabilities	265,930		26.7%			209,861
Other Long Term Finance	507,625		10.7%			458,403
Total Long Term Liabilities	507,625		10.7%			458,403
Overdraft Long Term Liabilites	507,625		10.7%			458,403
Liabilities	1,993,631		50.0%			1,328,886
Net Assets	310,928		60.4%			193,843
Working Captial	818,553		25.5%			652,246
Current Assets	2,304,559		51.3%			1,522,729
Other Current Assets	0		-100.0%			534,803
Ratios
Date To		31/12/2009		%	31/12/2008
Trading Performance
Pre-Tax Profit Margin		0.0%		-	0.0%
Return on Capital Employed		16.5 %		-	20.9 %
Return on Total Assets Employed		5.8 %		-	8.9 %
Return on Net Assets Employed		43.3 %		-		70.2 %
Sales/Net Working Capital		0.00		-	0.00
Operating Efficiency
Stock Turnover Ratio		0.0%		-	0.0%
Debtor Days		0.00		-		0.00
Creditor Days		0.00		-	0.00
Short Term Stability
Current Ratio		1.55		-	1.75
Liquidity Ratio/Acid Ratio		1.55		-	1.71
Current Debt Ratio		4.8 %		-	4.5 %
Long Term Stability
Gearing		163.3 %		-	236.5 %
Equity in Percentage		13.5 %		-	12.7 %
Total Debt Ratio		6.4 %		-	6.9 %

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Auditor/Banker's Information
Auditor Name	MC ARDLE CASSIDY MCQUAID
Auditor Qualification	No Adverse Comments
Banker Name
Banker Sort Code

Other Information
Website Address
Incorporation Date	20/02/2008
Company Type	SINGLE MEMBER PRIVATE COMPANY LIMITED BY SHARES
Type of Accounts	Medium Company
Date of Latest Accounts	31/12/2009
Filing Date of Accounts
Annual Return Date	20/08/2010

Industry Information
Industry Description	The wholesale of clothing and accesories under the CAT brand. Accounts data converted from US Dollars.

Mortgage Information

Mortgages(s) Outstanding

Mortgages(s) Satisfied

Mortgage Type

Date Charge Created

Date Charge Registered

Date Charge Satisfied

Status

Person(s) Entitled

Amount Secured

Company History

Event History
Date	Description
15/12/2010	Annual Returns
15/12/2010	New Accounts Filed
15/12/2010	New Accounts Filed
12/04/2010	Annual Returns
09/04/2010	New Accounts Filed
17/02/2010	PAUL FRANCIS BOND has left the board
17/02/2010	New Board Member (EAMONN MACKEN) appointed
31/08/2008	Annual Returns

Status History
No status history for this company.

Image Accounts

Accounts Images
31-12-2009
31-12-2008

Returns Images
31-12-2009
31-12-2008
21-08-2008

Other Images
17-06-2011	B47 NOTICE(LETTER) OF RESIGNATION OF AUDITOR
08-07-2010	B10 CHANGE IN DIRS/SEC
06-05-2010	CERTIFICATE
23-04-2010	B2 CHANGE IN SITUATION OF REG OFFICE.
02-02-2010	B5 RETURN OF ALLOTMENTS.
18-02-2009	CERTIFICATE
18-02-2009	C1 MORT/ CHARGE CREATED BY IRISH COMPANY
18-02-2009	B2 CHANGE IN SITUATION OF REG OFFICE.
16-02-2009	CERTIFICATE
16-02-2009	C1 MORT/ CHARGE CREATED BY IRISH COMPANY
12-05-2008	B10 CHANGE IN DIRS/SEC
12-05-2008	B10 CHANGE IN DIRS/SEC
13-03-2008	B10 CHANGE IN DIRS/SEC
06-03-2008	CERTIFICATE
06-03-2008	AMENDED MEMORANDUM AND ARTICLES.
06-03-2008	G1Q CHANGE OF NAME SPECIAL RESOLUTION
19-02-2008	CERTIFICATE
19-02-2008	A1 APPLICATION TO REGISTER AS A NEW COMPANY,
19-02-2008	MEMORANDUM AND ARTICLES

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.05
UK Pound	1	Rs.71.92
Euro	1	Rs.64.37

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%)

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.

Address Information
Company Name	SRI APPAREL LIMITED
Company Number	IE453610
Registered Office Address	1 ONTARIO TERRACERATHMINESDUBLIN 6DUBLIN 6
Registered Office Post Code	216410
Registered Telephone No.
TPS Registered	N
Trading Address
Trading Postal Code
Trading Telephone Number
TPS Registered