MIRA INFORM REPORT

Report Date :

14.05.2011

IDENTIFICATION DETAILS

Name :	RICHARD MORREY LTD
Registered Office :	Unit 22 Battersea Road, Stockport, Cheshire, Sk4 3ea
Country :	United Kingdom
Financials (as on) :	31.12.2009
Date of Incorporation :	24.04.2008
Com. Reg. No.:	06576051
Legal Form :	Private Limited Company
Line of Business :	Manufacturer of other textiles

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

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 – December 31, 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

Company Identification Details

Subject Reported on	RICHARD MORREY LTD
Registration Number	06576051

Payment Behaviour

( No Payment Analysis Data is Available )

Official Company Data

Legal Form	Private Limited
Registration Number	06576051
Subject Status	Trading
Date of Incorporation	24/04/2008
Registered Office	UNIT 22 BATTERSEA ROAD, STOCKPORT, CHESHIRE, SK4 3EA.
History	21/07/2009 : The Registered Office address changed from 10 ALBANY ROAD, BRAMHALL, CHESHIRE SK7 1ND, S.
Date of Last Annual Return to Registry	24/04/2011
Accounts	The last filed accounts at Companies House are those to 31/12/2009
Accounting Reference Date	31/12

Operations

Activities
Nace Code	1751
Auditors	Allens Accountants Ltd

Historical Rating

Date	Monthly Credit Guide
13/05/2011	600
13/02/2011	600
13/11/2010	650
13/08/2010	0
13/05/2010	0

Previous Searches

Search History Summary

Last 3 Months	Last 6 Months	Last 12 Months
0	0	0

Search History Details

The Search History Details shows details of the most recent 40 searches

Date	Description
07/09/2009	Activities of other transport agencies

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	1
Number Outstanding	1
Number Partially Satisfied	0
Number Satisfied	0
Date of Latest Mortgage Created	08/12/2009

Details of most recent Mortgages, Charges and Satisfactions

Date Fully Satisfied	Date Registered	Date Created	Charge Description	Form Type	Lender
	24/12/2009	08/12/2009	Debenture	MG01	The Royal Bank Of Scotland 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

15/04/2011	Companies House Gazette	Notification of any change among the company's directors
26/03/2011	Companies House Gazette	Any amendment to company's articles (including every resolution or agreement required to be embodied in or annexed to copies of the company's articles issued by
26/03/2011	Companies House Gazette	Notice delivered under section 636 (notice of new name of class of shares) or 637 (notice of variation of rights attached to shares)
08/09/2009	Companies House Gazette	Change among directors of a company

Directors

Director	MR RICHARD JAMES MORREY
Service Address	UNIT 22 BATTERSEA ROAD, STOCKPORT, CHESHIRE, SK4 3EA.
Country of Origin	UNITED KINGDOM
Date of Birth	24/10/1966
Appointment Date	14/02/2011
Other Directorships	RIMO DESIGNS LIMITED, RMW HAND MADE CARPETS LTD
Director	MR STEVEN SIEVWRIGHT
Service Address	112 VICUS LIVERPOOL ROAD, MANCHESTER, M3 4AQ.
Country of Origin	UNITED KINGDOM
Date of Birth	14/06/1980
Appointment Date	01/08/2009

Share Capital

Shares	Ordinary A GBP 1.00
Issued Number	100
Shares	Ordinary B GBP 1.00
Issued Number	100
Principal Shareholder	100 Richard James Morrey
	70 Richard Morrey
	30 Steven Sievwright

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
Accounts Date	31/12/2009
Currency	GBP
TOTAL FIXED ASSETS	1
Tangible Assets	1
TOTAL CURRENT ASSETS	63
Trade debtors	38
Stocks	21
Other Current Assets	4
Cash	4
TOTAL ASSETS	64
TOTAL CURRENT LIABILITIES	62
Trade creditors	62
WORKING CAPITAL	1
NET ASSETS/(LIABILITIES)	2
SHARE CAPITAL + RESERVES	2
Profit and Loss account	2
SHAREHOLDERS FUNDS	2
CAPITAL EMPLOYED	2

Financial Comparison

The following figures are shown in units of 1000

Number of Weeks	52
Accounts Date	31/12/2009
Currency	GBP
Liquid Assets	42
Net Working Capital	1
Tangible Net Worth(T.N.W)	2
Equity	2
Number of Years Trading	1

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	31/12/2009
Current Ratio	1
Quick Ratio	0.7
T.N.W/Total Assets%	3.1
Equity Gearing%	3.2

Key Industry Sector Trends

Year	2010	2009	2008	2007
Sample Size	543	818	811	775
Pre-Tax Profit Margin	4.2	1.6	2.6	5.1
Current Ratio	1.5	1.5	1.4	1.4
Borrowing Ratio	53.3	66.5	53.4	81.3
Return on Capital	17.2	20.1	26.1	39.3
Creditors Days	42	43	51	48

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

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 1,000, current ratio of 1.0 and a quick ratio of .7.

Net Worth

Net worth was GBP 2,000.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.91
UK Pound	1	Rs.73.06
Euro	1	Rs.64.03

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.