MIRA INFORM REPORT

Report Date :

18.05.2011

IDENTIFICATION DETAILS

Name :	EURO METALS LIMITED

Registered Office :	8th Floor York House Empire Way, Wembley, Middx, Ha9 0pa.

Country :	United Kingdom

Financials (as on) :	30.11.2009

Date of Incorporation :	07.06.2004

Com. Reg. No.:	05146807

Legal Form :	Private Limited Company

Line of Business :	Exporters of secondary and re-usable steels.

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 9,500
Status :	Small Company
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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

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	EURO METALS LIMITED
Registration Number	05146807
VAT Number	GB835482413
Address	8TH FLOOR YORK HOUSE, EMPIRE WAY, WEMBLEY, MIDDLESEX, HA9 0PA.
Telephone	020 8782 8744
Facsimile	020 8795 0711

Creditline Recommendations

Monthly Credit Guide

GBP 9,500

Payment Behaviour

( No Payment Analysis Data is Available )

Official Company Data

Legal Form	Private Limited
Registration Number	05146807
VAT Number	GB835482413
Subject Status	Trading
Date of Incorporation	07/06/2004
Registered Office	8TH FLOOR YORK HOUSE EMPIRE WAY, WEMBLEY, MIDDX, HA9 0PA.
History	5/08/2010 : The Registered Office address changed from 20 LEIGH COURT, BYRON HILL ROAD, HARROW, MIDD.
	22/12/2004 : The Registered Office address changed from 1 BRUCE HOUSE, 195 PRESTON HILL, HARROW, MIDD.
	1/07/2004 : The Registered Office address changed from 60 BLENHEIM ROAD, WALTHAMSTOW, LONDON E17 6HT.
Date of Last Annual Return to Registry	07/06/2010
Accounts	The last filed accounts at Companies House are those to 30/11/2009
Accounting Reference Date	30/11

Operations

Activities	Exporters of secondary and re-usable steels.
Nace Code	7487
Premises	Leased,Offices
Staff Employed	4
Import Countries	No Import Activity
Export Countries	ALL OVER THE WORLD
Bankers	HABIB BK AG ZURICH
Address	160 BELGRAVE ROAD, LEICESTER.
Sort Code	609139
Auditors	King & King

Historical Rating

Date	Monthly Credit Guide
16/05/2011	9,500
16/02/2011	10,000
16/11/2010	10,250
16/08/2010	10,000
16/05/2010	16,000

Previous Searches

Search History Summary

Last 3 Months	Last 6 Months	Last 12 Months
0	0	1

Search History Details

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

Date	Description
01/10/2010	Wholesale of waste and scrap
16/11/2009	Activities auxiliary to insurance and pension funding

Public Record Information

Summary of CCJ's/Scottish Decrees

No CCJs/Scottish Decrees are recorded in our file.

Other Filings and Notices

Date

Source

Description

09/01/2009

Companies House Gazette

Change among directors of a company

Company Secretary

Secretary	MRS NEETU CHOPRA
Service Address	118 COTSWOLD AVENUE, BUSHEY, HERTFORDSHIRE, WD23 4QH.
Country of Origin	INDIA
Date of Birth	16/06/1980
Appointment Date	07/06/2004

Directors

Director	MR ASHISH CHAUDHARI
Service Address	20 LEIGH COURT, BYRON HILL ROAD, HARROW, MIDDLESEX, HA2 0HZ.
Country of Origin	INDIA
Date of Birth	08/01/1979
Appointment Date	07/06/2004
Other Directorships	GLOBAL METCORP LIMITED, ARDOUR WORLD LIMITED
Director	MRS NEETU CHOPRA
Service Address	118 COTSWOLD AVENUE, BUSHEY, HERTFORDSHIRE, WD23 4QH.
Country of Origin	INDIA
Date of Birth	16/06/1980
Appointment Date	07/06/2004
Director	MR ADITYA CHOPRA
Service Address	118 COTSWOLD AVENUE, BUSHEY, HERTFORDSHIRE, WD23 4QH.
Country of Origin	INDIA
Date of Birth	18/04/1980
Appointment Date	01/12/2007

Share Capital

Shares	Ordinary GBP 1.00
Issued Number	100
Principal Shareholder	50 Ashish Chaudhari
	45 Neetu Chopra
	5 Sardarmal Kothari

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	30/11/2009	30/11/2008	30/11/2007	30/11/2006
Currency	GBP	GBP	GBP	GBP
TOTAL FIXED ASSETS		1	1	1
Tangible Assets		1	1	1
TOTAL CURRENT ASSETS	1115	283	192	57
Trade debtors	541	270	170	50
Stocks	411		17
Other Current Assets	163	13	5	7
Cash	163	13	5	7
TOTAL ASSETS	1115	284	193	58
TOTAL CURRENT LIABILITIES	1060	200	122	26
Trade creditors	1060	200	122	26
WORKING CAPITAL	55	83	70	31
NET ASSETS/(LIABILITIES)	55	84	71	32
SHARE CAPITAL + RESERVES	55	84	71	32
Profit and Loss account	55	84	71	32
SHAREHOLDERS FUNDS	55	84	71	32
CAPITAL EMPLOYED	55	84	71	32

Financial Comparison

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	30/11/2009	30/11/2008	30/11/2007	30/11/2006
Currency	GBP	GBP	GBP	GBP
Liquid Assets	704	283	175	57
Net Working Capital	55	83	70	31
Tangible Net Worth(T.N.W)	55	84	71	32
Equity	55	84	71	32
Number of Years Trading	5	4	3	2

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	30/11/2009	30/11/2008	30/11/2007	30/11/2006
Current Ratio	1.1	1.4	1.6	2.2
Quick Ratio	0.7	1.4	1.4	2.2
T.N.W/Total Assets%	4.9	29.6	36.8	55.2
Equity Gearing%	5.2	42	58.2	123.1

Key Industry Sector Trends

Year	2011	2010	2009	2008
Sample Size	1209	99999	99999	99999
Pre-Tax Profit Margin	28.4	16.8	13.3	16.5
Current Ratio	1.7	1.7	1.9	1.8
Borrowing Ratio	59.6	33.5	39	44.6
Return on Capital	214.4	71.2	48.3	58.1
Creditors Days	151	274	273	216

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Miscellaneous business activities not elsewhere classified

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 29,000 decrease. This suggests that the Company may have made a post-tax loss of GBP 29,000.

Working Capital

The company's working capital, while remaining positive, decreased by 34 % in the period.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.07
UK Pound	1	Rs.63.57
Euro	1	Rs.72.97

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.