MIRA INFORM REPORT

Report Date :

19.05.2011

IDENTIFICATION DETAILS

Name :	BRADLEY PULVERIZER COMPANY
Registered Office :	123 SOUTH THIRD STREET, PO BOX 1318 ALLENTOWN, PA 18105
Country :	United Kingdom
Financials (as on) :	31.12.2007
Date of Incorporation :	23.11.1908
Com. Reg. No.:	FC000701
Legal Form :	See Report
Line of Business :	The design, engineering and manufacture of mills for fine grinding.

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 :	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	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	BRADLEY PULVERIZER COMPANY
Registration Number	FC000701
VAT Number	GB235585251
Address	15 KENNET ROAD, DARTFORD, KENT, DA1 4QN.
Telephone	01322 559106
Email	bradley.pulverizer@btinternet.com
Web Address	www.bradleypulverizer.co.uk

Creditline Recommendations

Monthly Credit Guide

GBP 0

Official Company Data

Legal Form	See Report
Registration Number	FC000701
VAT Number	GB235585251
Subject Status	Trading
Date of Incorporation	23/11/1908
Registered Office	123 SOUTH THIRD STREET, PO BOX 1318 ALLENTOWN, PA 18105, USA.
Accounts	The last filed accounts at Companies House are those to 31/12/2009
Accounting Reference Date	31/12

Operations

Activities	The design, engineering and manufacture of mills for fine grinding.
Nace Code	2953
Premises	Owned,Offices,Warehouse
Staff Employed	7
Import Countries	No Import Activity
Export Countries	ALL OVER THE WORLD
Bankers	WACHOVIA BANK NA
Address	LONDON.
Sort Code	609307
Auditors	Buckno Lisicky & Co
Branches	15 KENNET ROAD, DARTFORD, KENT, DA1 4QN.

Previous Searches

Search History Summary

Last 3 Months	Last 6 Months	Last 12 Months
0	0	2

Search History Details

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

Date	Description
26/08/2010	Other credit granting
21/07/2010	Other credit granting
01/05/2009	Miscellaneous

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	07/06/1991

Details of most recent Mortgages, Charges and Satisfactions

Date Fully Satisfied	Date Registered	Date Created	Charge Description	Form Type	Lender
	20/06/1991	07/06/1991	Cash Collateral Agreement	N/A	Fidelity Bank Na

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

Company Secretary

Secretary	ROSEMARIE FRONHEISER
Service Address	123 SOUTH THIRD STREET, PO BOX 1318, ALLENTOWN, PENNSYLVANIA 18105.
Country of Origin	USA
Appointment Date	01/01/1993

Directors

Director	ROSEMARIE FRONHEISER
Service Address	123 SOUTH THIRD STREET, PO BOX 1318, ALLENTOWN, PENNSYLVANIA 18105.
Country of Origin	USA
Appointment Date	01/01/1993
Director	DAVID FRONHEISER
Service Address	123 SOUTH THIRD STREET, PO BOX 1318, ALLENTOWN, PENNSYLVANIA 18105.
Country of Origin	USA
Appointment Date	01/01/1993
Director	BOYD HIXSON
Service Address	LIBERTY ONE PLAZA, FOGELSVILL, PENNSYLVANIA 18051.
Country of Origin	USA
Appointment Date	01/01/1993
Accountant	JAMES FRONHEISER
Service Address	123 SOUTH THIRD STREET, PO BOX 1318, ALLENTOWN, PENNSYLVANIA 18105.
Country of Origin	USA
Appointment Date	21/09/1983

General Information

04/09/2007 

Foreign registered companies are not required to file annual return / shareholders documents at Companies House. 

Financial Data– Statutory Accounts

For annual accounts images, view the

Profit and Loss

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/12/2007	31/12/2006	31/12/2005	31/12/2004
Currency	USD	USD	USD	USD
SALES	5971	8880	8148	4894
Cost of goods sold	4151	6061	5404	3758
GROSS PROFIT	1820	2819	2744	1136
PRE TAX PROFIT	633	953	921	3

Balance Sheet

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/12/2007	31/12/2006	31/12/2005	31/12/2004
Currency	USD	USD	USD	USD
TOTAL FIXED ASSETS	498	519	569	608
Tangible Assets	498	519	569	608
TOTAL CURRENT ASSETS	3522	2919	4359	3322
Trade debtors	686	1329	2255	1056
Stocks	2502	1445	2035	2208
Other Current Assets	334	145	69	58
Misc Current Assets	146	61	69	58
Due From Group	188	84
TOTAL ASSETS	4020	3438	4928	3930
TOTAL CURRENT LIABILITIES	1838	1122	2786	2573
Trade creditors	222	161	445	392
Other Liabilities	1616	961	2341	2181
WORKING CAPITAL	1684	1797	1573	749
TOTAL LONG TERM LIABS	844	977	803	18
NET ASSETS/(LIABILITIES)	1338	1339	1339	1339
SHARE CAPITAL + RESERVES	1338	1339	1339	1339
Share Cap + Sundry Res	518	519	519	519
Profit and Loss account	820	820	820	820
SHAREHOLDERS FUNDS	1338	1339	1339	1339
CAPITAL EMPLOYED	2182	2316	2142	1357

Financial Comparison

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/12/2007	31/12/2006	31/12/2005	31/12/2004
Currency	USD	USD	USD	USD
Net Cashflow from Oper.
Increase in Cash
Liquid Assets	686	1329	2255	1056
Net Working Capital	1684	1797	1573	749
Long Term Debt(>12 Months)
Other Deferred Liabs	844	977	803	18
Tangible Net Worth(T.N.W)	1338	1339	1339	1339
Equity	1338	1339	1339	1339
Number of Years Trading	99	98	97	96

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	31/12/2007	31/12/2006	31/12/2005	31/12/2004
Current Ratio	1.9	2.6	1.6	1.3
Long Term Debt/T.N.W
Pre Tax Profit Margin%	10.6	10.7	11.3	0.1
Gross Profit%	30.5	31.7	33.7	23.2
Debtors Days (D.S.O)	42	55	101	79
Creditors Days (D.P.O)	14	7	20	29
Quick Ratio	0.6	1.3	0.8	0.4
W.I.P/Inventory Days	220	87	137.4	214.5
Return on Investment%	29	41.1	43	0.2
Return on Assets%	15.7	27.7	18.7	0.1
T.N.W/Total Assets%	33.3	38.9	27.2	34.1
Return on Capital%	29	41.1	43	0.2
Rtn on Shareholders Funds%	47.3	71.2	68.8	0.2
Working Capital/Sales%	28.2	20.2	19.3	15.3
Borrowing Ratio%
Equity Gearing%	49.9	63.8	37.3	51.7
Stock Turnover	2.4	6.1	4	2.2
Days Purchases Outstanding	19.5	9.7	30.1	38.1
Sales/Fixed Assets
Debt Gearing

Key Industry Sector Trends

Year	2010	2009	2008	2007
Sample Size	1138	1852	1883	1812
Pre-Tax Profit Margin	5.3	2.7	4.1	2.3
Current Ratio	1.6	1.6	1.5	1.5
Borrowing Ratio	25.1	23.2	17.9	18.6
Return on Capital	32.4	25.7	33.1	30.1
Creditors Days	91	63	70	78

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

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.

Turnover

Turnover decreased by 33 % and reduced by 2,909,000 to USD 5,971,000.

Pre Tax Profit

The subject's profit decreased by 33 % over the previous year.

Working Capital

The company's working capital remains positive but reduced by 6 % in the period.

Net Worth

Net worth reduced by USD 1,000 during the period and now stands at USD 1,338,000.

Fixed Assets

The subject's fixed assets reduced during the year by USD 21,000 to USD 498,000 and are now 12 % of total assets compared with 15 % in the previous year.

Long Term Liabilities

The company's long term liabilities reduced during the period by 13 % and are now 63 % of net worth compared with 73 % in the previous period.

Long Term Liabilities

Long term liabilities are now 21 % of total liabilities compared with 28 % in the previous period.

Long Term Liabilities

Long term liabilities are 39 % of capital employed, a decrease of 3 % over the previous period.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.08
UK Pound	1	Rs.73.35
Euro	1	Rs.64.30

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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