MIRA INFORM REPORT

Report Date :

02.03.2011

IDENTIFICATION DETAILS

Name :	SCOTT BADER UK LIMITED
Formerly Known As :	EVER 1938 LIMITED
Registered Office :	Wollaston Hall Wollaston Wellingborough NN29 7RL
Country :	United Kingdom
Financials (as on) :	31.12.2009
Date of Incorporation :	15.10.2002
Com. Reg. No.:	04562724
Legal Form :	Private Limited With Share Capital
Line of Business :	Manufacture of plastics in primary forms

RATING & COMMENTS

MIRA’s Rating :

A

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	£410,000
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 – June 30, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
United Kingdom	A1	A1

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

Summary

Top of Form

Company Name	SCOTT BADER UK LIMITED	Company Number	04562724
Registered Address	WOLLASTON HALL	Trading Address	Wollaston Hall Wollaston Wellingborough NN29 7RL
	WOLLASTON
	WELLINGBOROUGH
	NN29 7RL
Website Address	http://www.bader.com
Telephone Number	01933663100	Fax Number
TPS	Yes	FPS	No
Incorporation Date	15/10/2002	Company Status	Active - Accounts Filed
Previous Name	EVER 1938 LIMITED	Type	Private limited with Share Capital
		Filing Date of Accounts	05/08/2010
Date of Change	02/01/2003	Share Capital	£10,000,000
Sic Code	2416	Currency	GBP
Sic Description	MANUFACTURE OF PLASTICS IN PRIMARY FORMS
Principal Activity	Development, manufacture, distribution and sale of synthetic resins and polymers for applications in the marine, automotive, construction, adhesive, surface coating and textile markets.

Accounts Due Date 30/09/2011

Credit Rating & Limit

Todays Limit	£410,000
Todays Contract Limit	£12,350,000

Commentary

No exact match CCJs are recorded against the company.
There has been no significant change in the company's credit rating.
The credit limit on this company has risen 1.2% in comparison to the previously suggested credit limit.
The previous 12 month trading period saw a drop in Sales of 16%.
In the previous 12 month trading period Net Worth decreased by 15.5%.
A 5.8% decline in Total Assets occurred in the previous 12 month trading period.
Pre-tax profits increased by 184.8% in the previous 12 month trading period.
The company saw an decrease in their Cash Balance of 61.5% in the previous 12 month trading period.
The audit report contains no adverse comments.
The company has undergone recent changes in its directorships.
The company is part of a group.
The company was established over 8 years ago.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/12/2009	£54,904,000	£2,981,000	£10,669,000	208
31/12/2008	£65,396,000	-£3,514,000	£12,629,000	224
31/12/2007	£61,041,000	£1,821,000	£16,437,000	230

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade Debtors / Bad Debt -	1
Total Value of Documented Trade Debtors / Bad Debt -	£777

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	0

Exact CCJ Details

There are no exact CCJ details

Possible CCJ Details

There are no possible CCJ details

Writ Details

There are no writ details

Mortgage Summary

Outstanding	2
Satisfied	0

Total Current Directors	5
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	14

Current Directors

Name	Julianne Field	Date of Birth	10/02/1952
Officers Title	Ms	Nationality	British
Present Appointments	7	Function	Director
Appointment Date	01/08/2008
Address	Wollaston Hall,  Wollaston,  Wellingborough,  NN29 7RL
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Jean Marc Serge Bain	Date of Birth	24/10/1959
Officers Title		Nationality	French
Present Appointments	1	Function	Director
Appointment Date	30/12/2002
Address	Wollaston Hall,  Wollaston,  Wellingborough,  NN29 7RL
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Anthony Sibcy	Date of Birth	16/05/1966
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	01/01/2009
Address	Wollaston Hall,  Wollaston,  Wellingborough,  NN29 7RL
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Andrew John Forrester	Date of Birth	12/07/1962
Officers Title	Mr	Nationality	British
Present Appointments	8	Function	Director
Appointment Date	01/12/2005
Address	Wollaston Hall,  Wollaston,  Wellingborough,  NN29 7RL
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Philip James Bruce	Date of Birth	23/06/1952
Officers Title	Mr	Nationality	British
Present Appointments	8	Function	Director
Appointment Date	01/03/2005
Address	Wollaston Hall,  Wollaston,  Wellingborough,  NN29 7RL
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	Andrew John Forrester	Date of Birth	-
Officers Title	Mr	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	01/10/2009
Address	Wollaston Hall,  Wollaston,  Wellingborough,  NN29 7RL
Other Actions		View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Top 20 Shareholders

Name	Individual Share Value
SCOTT BADER COMPANY LTD	10,000,000 ORDINARY GBP 1.00

Profit & Loss

Date Of Accounts	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06	(%)	31/12/05
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£54,904,000	-16%	£65,396,000	7.1%	£61,041,000	8.4%	£56,292,000	1.4%	£55,505,000
Export	-	-	-	-	-	-	£18,334,000	-	-
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages & Salaries	£7,932,000	2.9%	£7,707,000	-3.4%	£7,982,000	-11.9%	£9,059,000	-24.2%	£11,948,000
Directors Emoluments	-	-	-	-	-	-	-	-100%	£6,160,000
Operating Profit	£3,283,000	212.7%	-£2,913,000	-230.3%	£2,236,000	-10.8%	£2,508,000	156.7%	-£4,426,000
Depreciation	£1,449,000	-1%	£1,464,000	-0.2%	£1,467,000	-17.6%	£1,780,000	-3.4%	£1,842,000
Audit Fees	£43,000	65.4%	£26,000	-61.2%	£67,000	42.6%	£47,000	-2.1%	£48,000
Interest Payments	£5,622,000	-13.8%	£6,522,000	454.1%	£1,177,000	37.5%	£856,000	-35.9%	£1,336,000
Pre Tax Profit	£2,981,000	184.8%	-£3,514,000	-293%	£1,821,000	1.2%	£1,799,000	178.2%	-£2,300,000
Taxation	£703,000	227.8%	-£550,000	-80.9%	-£304,000	44.9%	-£552,000	-188.5%	£624,000
Profit After Tax	£3,684,000	190.6%	-£4,064,000	-367.9%	£1,517,000	21.7%	£1,247,000	174.4%	-£1,676,000
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	£3,684,000	190.6%	-£4,064,000	-367.9%	£1,517,000	21.7%	£1,247,000	174.4%	-£1,676,000

Balance Sheet

Date Of Accounts	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06	(%)	31/12/05
Tangible Assets	£13,713,000	-8.4%	£14,976,000	-22%	£19,192,000	13.7%	£16,876,000	-9.1%	£18,559,000
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£13,713,000	-8.4%	£14,976,000	-22%	£19,192,000	13.7%	£16,876,000	-9.1%	£18,559,000
Stock	£5,459,000	15.9%	£4,709,000	-13.1%	£5,418,000	-3.4%	£5,608,000	4.1%	£5,385,000
Trade Debtors	£8,969,000	3.4%	£8,675,000	5.4%	£8,229,000	5.7%	£7,788,000	8.9%	£7,153,000
Cash	£556,000	-61.5%	£1,446,000	999.9%	£100,000	-	0	-	0
Other Debtors	£4,448,000	-17.5%	£5,390,000	-61%	£13,825,000	2.8%	£13,447,000	-7.9%	£14,607,000
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£19,432,000	-3.9%	£20,220,000	-26.7%	£27,572,000	2.7%	£26,843,000	-1.1%	£27,145,000
Trade Creditors	£6,476,000	-20.3%	£8,130,000	7%	£7,599,000	11.8%	£6,794,000	14.2%	£5,951,000
Bank Loans & Overdrafts	£4,512,000	-42%	£7,776,000	-	0	-100%	£8,457,000	0.5%	£8,419,000
Other Short Term Finance	£4,479,000	-11.7%	£5,071,000	-51.9%	£10,540,000	157.2%	£4,098,000	-6.1%	£4,366,000
Miscellaneous Current Liabilities	£1,737,000	9.2%	£1,590,000	-34.4%	£2,423,000	12.9%	£2,146,000	26.9%	£1,691,000
Total Current Liabilities	£17,204,000	-23.8%	£22,567,000	9.8%	£20,562,000	-4.3%	£21,495,000	5.2%	£20,427,000
Bank Loans & Overdrafts and LTL	£9,784,000	25.8%	£7,776,000	-20.4%	£9,765,000	-47.7%	£18,681,000	-31.5%	£27,262,000
Other Long Term Finance	0	-	0	-100%	£8,454,000	108.9%	£4,047,000	-25%	£5,394,000
Total Long Term Liabilities	£5,272,000	-	0	-100%	£9,765,000	-4.5%	£10,224,000	-45.7%	£18,843,000

Capital & Reserves

Date Of Accounts	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06	(%)	31/12/05
Called Up Share Capital	£10,000,000	-	£10,000,000	-	£10,000,000	-	£10,000,000	-	£10,000,000
P & L Account Reserve	-£9,906,000	-24.7%	-£7,946,000	-92%	-£4,138,000	51.7%	-£8,575,000	39.4%	-£14,141,000
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£10,575,000	-	£10,575,000	-	£10,575,000	-	£10,575,000	-	£10,575,000
Shareholder Funds	£10,669,000	-15.5%	£12,629,000	-23.2%	£16,437,000	37%	£12,000,000	86.5%	£6,434,000

Other Financial Items

Date Of Accounts	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06	(%)	31/12/05
Net Worth	£10,669,000	-15.5%	£12,629,000	-23.2%	£16,437,000	37%	£12,000,000	86.5%	£6,434,000
Working Capital	£2,228,000	194.9%	-£2,347,000	-133.5%	£7,010,000	31.1%	£5,348,000	-20.4%	£6,718,000
Total Assets	£33,145,000	-5.8%	£35,196,000	-24.7%	£46,764,000	7%	£43,719,000	-4.3%	£45,704,000
Total Liabilities	£22,476,000	-0.4%	£22,567,000	-25.6%	£30,327,000	-4.4%	£31,719,000	-19.2%	£39,270,000
Net Assets	£10,669,000	-15.5%	£12,629,000	-23.2%	£16,437,000	37%	£12,000,000	86.5%	£6,434,000

Cash Flow

Date Of Accounts	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06	(%)	31/12/05
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	31/12/09	(%)	31/12/08	(%)	31/12/07	(%)	31/12/06	(%)	31/12/05
Contingent Liability	YES	-	YES	-	NO	-	NO	-	NO
Capital Employed	£15,941,000	26.2%	£12,629,000	-51.8%	£26,202,000	17.9%	£22,224,000	-12.1%	£25,277,000
Number of Employees	208	-7.1%	224	-2.6%	230	-	-	-	283
Auditors	GRANT THORNTON UK LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	THE ROYAL BANK OF SCOTLAND PLC
Bank Branch Code	16-15-19

Ratios

Date Of Accounts	31/12/09	31/12/08	31/12/07	31/12/06	31/12/05
Pre-tax profit margin %	5.43	-5.37	2.98	3.20	-4.14
Current ratio	1.13	0.90	1.34	1.25	1.33
Sales/Net Working Capital	24.64	-27.86	8.71	10.53	-
Gearing %	91.70	61.60	59.40	155.70	423.70
Equity in %	32.20	35.90	35.10	27.40	14.10
Creditor Days	42.93	45.25	45.31	43.93	39.13
Debtor Days	59.46	48.28	49.07	50.36	47.04
Liquidity/Acid Test	0.81	0.68	1.08	0.99	1.07
Return On Capital Employed %	18.70	-27.82	6.95	8.09	-9.10
Return On Total Assets Employed %	8.99	-9.98	3.89	4.11	-5.03
Current Debt Ratio	1.61	1.78	1.25	1.79	3.17
Total Debt Ratio	2.10	1.78	1.84	2.64	6.10
Stock Turnover Ratio %	9.94	7.20	8.88	9.96	9.70
Return on Net Assets Employed %	27.94	-27.82	11.08	14.99	-35.75

Status History

No Status History found

Event History

Date	Description
23/10/2010	Annual Returns
18/08/2010	New Accounts Filed
18/08/2010	New Accounts Filed
30/12/2009	Annual Returns
08/12/2009	New Company Secretary Mr A.J. Forrester appointed
30/11/2009	Annual Returns
27/11/2009	Mr S.J. Whiffen has resigned as company secretary
19/10/2009	New Accounts Filed
19/01/2009	New Board Member Mr A. Sibcy appointed
30/12/2008	New Board Member Ms J. Field appointed
12/12/2008	Annual Returns
06/11/2008	Mr R. Leeson has left the board
28/10/2008	New Accounts Filed
24/09/2008	New Board Member Ms J. Field appointed
19/09/2008	Mr R.J. Meikle has left the board

Limit History

Date	Limit
20/10/2010	£410,000
18/08/2010	£405,000
19/10/2009	£335,000
02/10/2009	£475,000
06/03/2009	£950,000
28/10/2008	£1,000,000
24/10/2008	£1,000,000
21/09/2007	£1,000,000
01/11/2006	£50,000
18/10/2006	£600,000

Previous Company Names

Date	Previous Name	Companies House Documents
02/01/2003	EVER 1938 LIMITED

Group Structure Summary

Company Name	SCOTT BADER UK LIMITED	Company Number	04562724
Holding Company	SCOTT BADER COMPANY LIMITED	Ownership Status	Wholly Owned
Ultimate Holding Company	SCOTT BADER COMMONWEALTH LIMITED(THE)	Companies in group	10

Group structure

Company Name	Safe Number	Registered Number	Latest Key Financials	Consol. Accounts	Limit	Turnover
SCOTT BADER COMMONWEALTH LIMITED...	UK00185077	00496082	31.12.2009	Y	£1,200,000	£150,911,000
SCOTT BADER COMPANY LIMITED	UK00029540	00189141	31.12.2009	Y	£1,100,000	£150,508,000
SCOTT BADER COMMUNITY FUND T...	UK00952570	01282834	31.12.2009	N	-	-
SCOTT BADER EXPORTS LIMITED	UK00860849	01190209	31.12.2009	N	-	£0
HYPAR TANK PANELS LIMITED	UK01477343	01810634	31.12.2009	N	-	-
SCOTT BADER PENSION SCHEME T...	UK03994693	04345836	31.12.2009	N	-	£0
SCOTT BADER UK LIMITED	UK04210307	04562724	31.12.2009	N	£410,000	£54,904,000
STRAND GLASSFIBRE LIMITED	UK02585325	02925296	31.12.2009	N	-	-
SYNTHETIC RESINS LIMITED	UK00059129	00282663	31.12.2009	N	£100,000	£0
BOLDHELP LIMITED	UK03448662	03793984	31.12.2009	N	£1,000	£0

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.12
UK Pound	1	Rs.73.43
Euro	1	Rs.62.32

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.