MIRA INFORM REPORT

 

 

Report Date :

27.05.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

SPAREX LIMITED

 

 

Registered Office :

Exeter Airport, Devon, Ex5 2lj

 

 

Country :

united Kingdom            

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

19.03.1965

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Assembly and distribution of agricultural spare parts and accessories

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

£210,000

Status :

Very 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 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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 summary

 

Company Name

SPAREX LIMITED

Company Number

00841771

Registered Address

SPAREX LIMITED

Trading Address

Exeter Airport
Exeter
EX5 2LJ

 

EXETER AIRPORT.

 

 

DEVON. .

 

 

EX5 2LJ

 

 

 

 

 

Website Address

http://www.sparex.co.uk

 

 

Telephone Number

01392368892

Fax Number

 

TPS

No

FPS

No

Incorporation Date

19/03/1965

Company Status

Active - Accounts Filed

Previous Name

 

Type

Private limited with Share Capital

 

 

Filing Date of Accounts

30/04/2010

Date of Change

-

Share Capital

£261,612

Sic Code

5190

Currency

GBP

Sic Description

OTHER WHOLESALE

Principal Activity

Assembly and distribution of agricultural spare parts and accessories.

 

 

Credit Limit

 

Limit

£210,000

Previous Limit

£190,000

 

Contract Limit

£6,550,000

 

Commentary

 

No exact match CCJs are recorded against the company.

The previous 12 month trading period saw a rise in Sales of 17.2%.

In the previous 12 month trading period Net Worth decreased by 4.4%.

A 15.7% growth in Total Assets occurred in the previous 12 month trading period.

Pre-tax profits decreased by 117.5% in the previous 12 month trading period.

The company saw an increase in their Cash Balance of 26.3% in the previous 12 month trading period.

The audit report contains no adverse comments.

No recent changes in directorship are recorded.

The company is part of a group.

The company was established over 44 years ago.

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

31/12/2009

£26,145,489

£9,245,347

£21,453,404

161

31/12/2008

£23,873,773

-£647,414

£13,069,888

153

31/12/2007

£20,376,433

£3,707,025

£13,675,994

144

 

 

Payment Information Summary

 

Total number of Invoices available

746

Total number of Invoices paid within or up to 30 days after the due date

638

Total number of Invoices paid more than 30 days after the due date

17

Total number of Invoices currently outstanding where the due date has not yet been reached

0

Total number of Invoices currently outstanding beyond the due date

76

 

 

Trade Debtors / Bad Debt Summary

 

Total Number of Documented Trade Debtors / Bad Debt -

2

 

Total Value of Documented Trade Debtors / Bad Debt -

£590

 

 

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

 

Writ Details

There are no Writ Details

 

 

Mortgage Summary

 

Outstanding

1

Satisfied

1

Total Current Directors

8

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

11

 

 

Current Directors

 

Name

Theunis Stortenbeker

Date of Birth

23/07/1948

Officers Title

 

Nationality

Dutch

Present Appointments

2

Function

Director

Appointment Date

01/08/1996

 

 

Address

33 Parkside Drive

 

 

 

 

 

 

 

Exmouth

 

 

 

EX8 4LB

 

 

 

 

 

 

 

Name

Alan Thomas Fletcher

Date of Birth

17/12/1934

Officers Title

Mr

Nationality

British

Present Appointments

107

Function

Director

Appointment Date

18/04/2000

 

 

Address

14 Fiery Hill Road

 

 

 

Barnt Green

 

 

 

Birmingham

 

 

 

B45 8LG

 

 

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Alasdair Frederick Lachlan MacLean

Date of Birth

16/03/1957

Officers Title

Mr

Nationality

British

Present Appointments

3

Function

Director

Appointment Date

01/02/1997

 

 

Address

Mulberry Knowles

 

 

 

Coly Road

 

 

 

Colyton

 

 

 

EX24 6PU

 

 

 

Name

Ian Fisher

Date of Birth

22/08/1950

Officers Title

Mr

Nationality

Israeli

Present Appointments

104

Function

Director

Appointment Date

18/04/2000

 

 

Address

26 Loudoun Road

 

 

 

 

 

 

 

London

 

 

 

NW8 0LT

 

 

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Andrew Olaf Fischer

Date of Birth

24/08/1964

Officers Title

Mr

Nationality

German

Present Appointments

105

Function

Director

Appointment Date

18/04/2000

 

 

Address

The Chantry Little Casterton

 

 

 

Rutland

 

 

 

Stamford

 

 

 

PE9 4BE

 

 

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Pierre Nadeau

Date of Birth

18/10/1962

Officers Title

Mr

Nationality

British

Present Appointments

5

Function

Director

Appointment Date

21/03/2006

 

 

Address

Swiss Cottage

 

 

 

Mapstone Hill, Lustleigh

 

 

 

Newton Abbot

 

 

 

TQ13 9SE

 

 

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Stephen Brian Potter

Date of Birth

30/01/1959

Officers Title

Mr

Nationality

British

Present Appointments

3

Function

Director

Appointment Date

21/03/2006

 

 

Address

12 Avon Road

 

 

 

West Moors

 

 

 

Ferndown

 

 

 

BH22 0EG

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Jonathan Charles Richardson

Date of Birth

05/11/1960

Officers Title

Mr

Nationality

British

Present Appointments

118

Function

Director

Appointment Date

09/08/2005

 

 

Address

24 Foxcote Way

 

 

 

Walton

 

 

 

Chesterfield

 

 

 

S42 7NP

 

 

 

Current Company Secretary

 

Name

Hugh Andrew Trapnell

Date of Birth

31/05/1949

Officers Title

Mr

Nationality

British

Present Appointments

3

Function

Company Secretary

Appointment Date

21/12/2005

 

 

Address

5 The Orchard

 

 

 

 

 

 

 

Abbotskerswell

 

 

 

TQ12 5QE

 

 

 

 

Top 20 Shareholders

 

Name

Individual Share Value

ANGLEHAWK LTD

261,612 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

£26,145,489

9.5%

£23,873,773

17.2%

£20,376,433

8.7%

£18,748,366

5.8%

£17,713,000

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-

-

-

-

-

-

Gross Profit

-

-

-

-

-

-

-

-

-

Wages & Salaries

£4,794,912

-8.2%

£5,222,508

25.2%

£4,170,759

13.6%

£3,670,723

0.6%

£3,648,000

Directors Emoluments

£811,673

-0.2%

£812,915

28.6%

£632,049

31.2%

£481,682

-36.5%

£758,000

Operating Profit

£957,648

298.2%

-£483,275

-133.2%

£1,456,481

185.1%

-£1,712,333

-999.9%

-£42,000

Depreciation

£127,608

-7.3%

£137,671

-26.7%

£187,697

-3.6%

£194,736

-7.7%

£211,000

Audit Fees

£32,667

2.4%

£31,890

-24.9%

£42,481

-2.3%

£43,500

-9.4%

£48,000

Interest Payments

£388,552

2.4%

£379,605

2.5%

£370,438

6.6%

£347,515

-9.3%

£383,000

Pre Tax Profit

£9,245,347

999.9%

-£647,414

-117.5%

£3,707,025

509.1%

-£906,074

-185.2%

£1,063,000

Taxation

-£861,831

-999.9%

£41,308

-54.8%

£91,375

-30.8%

£132,101

210.1%

-£120,000

Profit After Tax

£8,383,516

999.9%

-£606,106

-116%

£3,798,400

590.8%

-£773,973

-182.1%

£943,000

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

£8,383,516

999.9%

-£606,106

-116%

£3,798,400

590.8%

-£773,973

-182.1%

£943,000

 

 

Balance Sheet

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Tangible Assets

£4,089,285

-7.5%

£4,420,332

-13.3%

£5,098,624

0.1%

£5,091,353

-22.1%

£6,536,000

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£4,089,285

-7.5%

£4,420,332

-13.3%

£5,098,624

0.1%

£5,091,353

-22.1%

£6,536,000

Stock

£5,591,993

-11.3%

£6,303,420

15.2%

£5,472,573

18.8%

£4,604,772

-3.3%

£4,761,000

Trade Debtors

£2,511,619

6.9%

£2,349,475

6.3%

£2,211,104

2.4%

£2,159,666

21.5%

£1,777,000

Cash

£219,526

-57.7%

£518,910

26.3%

£410,944

42.3%

£288,705

23.4%

£234,000

Other Debtors

£20,107,832

24.3%

£16,172,024

29.1%

£12,530,846

35.8%

£9,225,746

38.9%

£6,643,000

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£28,430,970

12.2%

£25,343,829

22.9%

£20,625,467

26.7%

£16,278,889

21.3%

£13,415,000

Trade Creditors

£2,008,555

-27.2%

£2,760,272

23.9%

£2,227,589

4.2%

£2,137,515

-9.7%

£2,368,000

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

£7,586,146

-40.8%

£12,813,289

43.9%

£8,907,087

5.7%

£8,427,028

40.7%

£5,988,000

Miscellaneous Current Liabilities

£1,472,150

34.4%

£1,095,712

23.3%

£888,421

-1.6%

£903,105

-1.6%

£918,000

Total Current Liabilities

£11,066,851

-33.6%

£16,669,273

38.6%

£12,023,097

4.8%

£11,467,648

23.7%

£9,274,000

Bank Loans & Overdrafts and LTL

0

-100%

£25,000

-

£25,000

-

£25,000

-

£25,000

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-100%

£25,000

-

£25,000

-

£25,000

-

£25,000

 

Capital & Reserves

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Called Up Share Capital

£261,612

-

£261,612

-

£261,612

-

£261,612

-0.1%

£262,000

P & L Account Reserve

£21,139,286

65.7%

£12,755,770

-4.5%

£13,361,876

39.7%

£9,563,476

-7.5%

£10,337,000

Revaluation Reserve

£12,824

-

£12,824

-

£12,824

-

£12,824

-1.4%

£13,000

Sundry Reserves

£39,682

-

£39,682

-

£39,682

-

£39,682

-0.8%

£40,000

Shareholder Funds

£21,453,404

64.1%

£13,069,888

-4.4%

£13,675,994

38.5%

£9,877,594

-7.3%

£10,652,000

 

Other Financial Items

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Net Worth

£21,453,404

64.1%

£13,069,888

-4.4%

£13,675,994

38.5%

£9,877,594

-7.3%

£10,652,000

Working Capital

£17,364,119

100.2%

£8,674,556

0.8%

£8,602,370

78.8%

£4,811,241

16.2%

£4,141,000

Total Assets

£32,520,255

9.3%

£29,764,161

15.7%

£25,724,091

20.4%

£21,370,242

7.1%

£19,951,000

Total Liabilities

£11,066,851

-33.7%

£16,694,273

38.6%

£12,048,097

4.8%

£11,492,648

23.6%

£9,299,000

Net Assets

£21,453,404

64.1%

£13,069,888

-4.4%

£13,675,994

38.5%

£9,877,594

-7.3%

£10,652,000

 

 

Miscellaneous

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Contingent Liability

YES

-

YES

-

YES

-

YES

-

YES

Capital Employed

£21,453,404

63.8%

£13,094,888

-4.4%

£13,700,994

38.4%

£9,902,594

-7.3%

£10,677,000

Number of Employees

161

5.2%

153

6.3%

144

2.9%

140

-2.8%

144

Auditors

PRICEWATERHOUSECOOPERS LLP

Auditor Comments

The audit report contains no adverse comments

Bankers

LLOYDS TSB BANK PLC

Bank Branch Code

 

 

 

Ratios

 

 

Date Of Accounts

31/12/09

31/12/08

31/12/07

31/12/06

31/12/05

Pre-tax profit margin %

35.36

-2.71

18.19

-4.83

6

Current ratio

2.57

1.52

1.72

1.42

1.45

Sales/Net Working Capital

1.51

2.75

2.37

3.90

-

Gearing %

0

0.20

0.20

0.30

0.20

Equity in %

66

43.90

53.20

46.20

53.40

Creditor Days

27.96

42.08

39.79

41.50

48.80

Debtor Days

34.96

35.82

39.49

41.93

36.62

Liquidity/Acid Test

2.06

1.14

1.26

1.02

0.93

Return On Capital Employed %

43.09

-4.94

27.05

-9.15

9.96

Return On Total Assets Employed %

28.42

-2.17

14.41

-4.23

5.33

Current Debt Ratio

0.51

1.27

0.87

1.16

0.87

Total Debt Ratio

0.51

1.27

0.88

1.16

0.87

Stock Turnover Ratio %

21.38

26.40

26.85

24.56

26.88

Return on Net Assets Employed %

43.09

-4.95

27.10

-9.17

9.98

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

 

10/05/2010

New Accounts Filed

 

10/05/2010

New Accounts Filed

 

10/05/2010

New Accounts Filed

 

10/05/2010

New Accounts Filed

 

10/03/2010

Mr C.R. Steele has left the board

 

23/12/2009

Annual Returns

 

10/11/2009

New Accounts Filed

 

10/11/2009

New Accounts Filed

 

09/11/2009

Annual Returns

 

04/11/2008

Annual Returns

 

05/10/2008

New Accounts Filed

 

03/01/2008

Pierre Nadeau Details have changed

 

27/11/2007

Annual Returns

 

30/10/2007

New Accounts Filed

 

10/11/2006

New Accounts Filed

 

 

 

Previous Company Names

 

No Previous Names found

 

Company Name

SPAREX LIMITED

Company Number

00841771

Holding Company

ANGLEHAWK LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

RUBICON PARTNERS INDUSTRIES LLP

Companies in Group

66

 

Ultimate Parent Company

RUBICON PARTNERS INDUSTRIES LLP

Companies in Group

66

Company Name

Registered
Number

Latest Key
Financials

Consol.
Accounts

Rating [0-100]

Limit

Turnover

RUBICON PARTNERS INDUSTRIES LLP

OC304887

31-12-2008

Y

95

£2,050,000

£258,893,000

-  FINANCE HOLDINGS LIMITED

05586096

31-12-2008

N

93

£500

£0

-  HELIX INDUSTRIES LIMITED

03896105

31-12-2008

N

87

£1,000

£0

-  VECTOR INDUSTRIES LIMITED

02843752

31-12-2008

N

96

£230,000

£5,003,000

VECTOR PENSION TRUSTEES LIMITED

04003961

31-12-2008

N

0

£0

-

-  G O S INVESTMENTS LIMITED

00137008

31-12-2008

N

95

£100,000

£0

ABBOT BROWN & SONS,LIMITED

00215661

31-12-2008

N

0

£0

-

SIDINGS NO. 5 LIMITED

01308233

31-12-2008

N

0

£0

-

SIDINGS NO. 4 LIMITED

01479417

31-12-2008

N

0

£0

-

SIDINGS NO. 3 LIMITED

01543656

31-12-2008

N

0

£0

-

TIMESQUEST LIMITED

03935681

31-12-2008

N

96

£100,000

£0

H.A. WEST (X-RAY) LIMITED

03940253

31-12-2008

N

0

£0

-

GENTECH INTERNATIONAL LIMITED

SC050236

31-12-2008

N

91

£100,000

£3,421,000

-  VECTOR ENGINEERING PRODUCTS LIMITED

00994043

31-12-2008

N

96

£100,000

£0

-  VECTOR BUILDING PRODUCTS LIMITED

00758609

31-12-2008

N

96

£100,000

£0

VECTOR NACO LIMITED

00565352

31-12-2008

N

0

£0

-

NETALINE A.D.P. LIMITED

02151297

31-12-2008

N

0

£0

-

INTERNATIONAL MARINE SYSTEMS LIMITED

02522673

31-12-2008

N

0

£0

-

-  VECTOR ENGINEERING & AVIATION LIMITED

00228520

31-12-2008

N

0

£0

-

VECTOR MERCHANTING LIMITED

00656739

31-12-2008

N

0

£0

-

VECTOR ENGINEERING INDUSTRIES LIMITED

00210429

31-12-2008

N

0

£0

£0

WEB EXPORTERS LIMITED

03899311

31-12-2008

N

0

£0

-

HELIX EBT LIMITED

04086120

31-12-2008

N

0

£0

-

-  CALUMET TRADING LIMITED

03936090

31-12-2008

N

93

£1,000

£0

-  CALUMET PHOTOGRAPHIC LTD

00425579

31-12-2009

N

74

£140,000

£37,501,284

LEEDS PHOTOVISUAL LIMITED

01800891

31-12-2009

N

0

£0

£0

REMROCK TRADING LIMITED

03896212

31-12-2008

N

96

£7,500

£0

-  SPAREX HOLDINGS LIMITED

05586098

31-12-2008

N

89

£500

£0

-  ANGLEHAWK LIMITED

03940260

31-12-2008

N

0

£0

£0

-  SPAREX LIMITED

00841771

31-12-2009

N

95

£210,000

£26,145,489

SPAREX (TRACTOR ACCESSORIES) LIMITED

Foreign (IRELAND)

31-12-2009

N

95

£205,000

£3,458,349

SPAREX INTERNATIONAL LIMITED

01750165

31-12-2009

N

0

£0

-

SPENCO ENGINEERING CO. LIMITED

01242155

31-12-2009

N

92

£205,000

£3,066,324

-  MGS GROUP HOLDINGS LIMITED

05586102

31-12-2008

N

89

£60,000

£0

M.G. SANDERS COMPANY LIMITED

01185512

31-12-2009

N

92

£100,000

£9,047,387

-  DIEMOULD HOLDINGS LIMITED

05586103

31-12-2008

N

89

£1,000

£0

DIEMOULD SERVICE COMPANY LIMITED

00728469

31-12-2008

N

93

£280,000

£3,289,161

-  DIHURST HOLDINGS LIMITED

00873378

31-12-2008

N

0

£0

£59,877

PANKHURST ENGINEERING COMPANY LIMITED

00582033

31-12-2008

N

0

£0

-

FINPLOT LIMITED

03940248

31-12-2008

N

96

£100,000

£0

-  CALUMET HOLDINGS LIMITED

05586282

31-12-2008

Y

63

£60,000

£137,308,000

-  CALUMET LIMITED

03935683

31-12-2008

N

65

£500

£0

-  CALUMET INTERNATIONAL LIMITED

01255244

31-12-2009

N

97

£100,000

£0

-  MID COUNTIES PHOTOGRAPHIC SUPPLIES LIMITED

03935680

31-12-2008

N

96

£100,000

£0

BOWENS INTERNATIONAL LIMITED

00754171

31-12-2009

N

98

£100,000

£9,915,102

-  XL EDM (HOLDINGS) LIMITED

06514225

31-12-2008

N

90

£3,000

£0

XL PRECISION TECHNOLOGIES LIMITED

03686730

31-12-2008

N

98

£50,000

£1,600,000

FRAMETILE LIMITED

06544812

31-12-2008

N

0

£0

-

PENCILWATER LIMITED

06544815

31-12-2008

N

0

£0

-

WAVEDRILL LIMITED

06544842

31-12-2008

N

0

£0

-

RIVERSTAMP LIMITED

06544846

31-12-2008

N

0

£0

-

-  ANTIFERENCE (HOLDINGS) LIMITED

04765921

31-12-2008

N

89

£1,000

£0

-  INTEGRA PRODUCTS HOLDINGS LIMITED

03940251

31-12-2008

N

96

£100,000

£0

ANTIFERENCE LIMITED

00336260

31-12-2009

N

90

£375,000

£3,214,000

INTEGRA PRODUCTS LIMITED

06373794

31-12-2009

N

90

£100,000

£8,759,000

-  ELECTRIC MOTOR COMPANY LTD (THE)

Foreign (UNKNOWN)

 

 

 

-

-

ELECTRIC MOTOR DEVELOPMENTS (HALSTEAD) LIMITED

01780765

31-12-2008

N

0

£0

-

PCH (HOLDINGS) LIMITED

04765849

31-12-2008

N

89

£28,500

£0

-  PNEUMATIC COMPONENTS (HOLDINGS) LIMITED

02270704

31-12-2008

N

0

£0

£0

PNEUMATIC COMPONENTS LIMITED

00341813

31-12-2009

N

92

£100,000

£7,680,000

-  STYLEX AUTO PRODUCTS (HOLDINGS) LIMITED

05186548

31-12-2008

N

83

£9,000

£0

-  STYLEX AUTO PRODUCTS LIMITED

01378507

31-12-2008

N

92

£120,000

£3,036,000

STYLESONIC LIMITED

04243080

31-12-2008

N

0

£0

-

-  W. H. BODDINGTON & CO (HOLDINGS) LIMITED

04765851

31-12-2008

N

89

£1,000

£0

-  BODDINGTONS TECHNICAL PLASTICS LIMITED

00497339

31-12-2009

N

43

£25,000

£5,327,989

TONBRIDGE TOOLS LIMITED

00806634

31-12-2009

N

0

£0

-

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.29

UK Pound

1

Rs.73.84

Euro

1

Rs.64.18

 

 

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

 

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.