MIRA INFORM REPORT

Report Date :

24.11.2011

IDENTIFICATION DETAILS

Name :	GOLDCREST DISTRIBUTION LTD

Registered Office :	Unit 4 Trafalgar Business Park Broughton Lane Manchester, M8 9TZ

Country :	United Kingdom

Financials (as on) :	31.03.2011

Date of Incorporation :	17.02.1993

Com. Reg. No.:	02791022

Legal Form :	Private Independent

Line of Business :	Other Miscellaneous Durable Goods Merchant Wholesalers

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

United Kingdom

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

Company name and address

Goldcrest Distribution Ltd

Unit 4 Trafalgar Business Park

Broughton Lane

Manchester, M8 9TZ

United Kingdom

Map

Suggest Company URL

Employees:	NA
Company Type:	Private Independent

Quoted Status:	Non-quoted Company
Incorporation Date:	17-Feb-1993
Auditor:	Dbf Associates

Financials in:	USD (mil)

Fiscal Year End:	31-Mar-2011
Reporting Currency:	British Pound Sterling
Annual Sales:	NA
Total Assets:	7.5

Business Description

Wholesale.

Industry

Industry	Miscellaneous Capital Goods
ANZSIC 2006:	3739 - Other Goods Wholesaling Not Elsewhere Classified
NACE 2002:	5190 - Other wholesale
NAICS 2002:	423990 - Other Miscellaneous Durable Goods Merchant Wholesalers
UK SIC 2003:	5190 - Other wholesale
US SIC 1987:	5099 - Durable Goods, Not Elsewhere Classified

Key Executives

Name	Title
Raj Chawla	Secretary
Darshan Lal Chawla	Director
Kulvinder Chawla	Director

Financial Summary

FYE: 31-Mar-2011

USD (mil)

Key Figures
Current Assets	6.17
Fixed Assets	1.31
Total Liabilities	1.23
Net Worth	5.52

Key Ratios
Current Ratio	5.03
Acid Test	4.86

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1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6433939
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6238497

Corporate Overview

Location
Unit 4 Trafalgar Business Park
Broughton Lane
Manchester, M8 9TZ
Greater Manchester County
United Kingdom

Suggest Company URL

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Sales GBP(mil):	NA
Assets GBP(mil):	4.7
Employees:	NA
Fiscal Year End:	31-Mar-2011

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Industry:	Miscellaneous Capital Goods

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Registered Address:
Unit 4, Trafalgar Business Par
Broughton Lane
Manchester, M8 9TZ
United Kingdom

Incorporation Date:	17-Feb-1993
Company Type:	Private Independent
Quoted Status:	Not Quoted
Registered No.(UK):	02791022

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Director:	Darshan Lal Chawla

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

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Industry Codes

ANZSIC 2006 Codes:
3739	-	Other Goods Wholesaling Not Elsewhere Classified

NACE 2002 Codes:
5190	-	Other wholesale

NAICS 2002 Codes:
423990	-	Other Miscellaneous Durable Goods Merchant Wholesalers

US SIC 1987:
5099	-	Durable Goods, Not Elsewhere Classified

UK SIC 2003:
5190	-	Other wholesale

Business Description

Wholesale.

Financial Data

Financials in:	GBP(mil)
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Assets:	4.7
Current Assets:	3.9
Fixed Assets:	0.8
Long Term Debt:	0.5
Total Liabilities:	1.2
Issued Capital:	NaN
Working Capital:	3.1
Net Worth:	3.4
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Date of Financial Data:	31-Mar-2011

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1 Year Growth

Key Corporate Relationships

Auditor:	Dbf Associates
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Auditor:	Dbf Associates
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Auditor History
Dbf Associates	31-Mar-2011
Dbf Associates	31-Mar-2010
Dbf Associates	31-Mar-2009
Dbf Associates	31-Mar-2008
Dbf Associates	31-Mar-2007
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Executives Report

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Board of Directors

Name

Title

Function

Darshan Lal Chawla

Director

Director/Board Member

Kulvinder Chawla

Director

Director/Board Member

Raj Chawla

Secretary

Director/Board Member

Executives

Name

Title

Function

Raj Chawla

Secretary

Company Secretary

Directors and Shareholders Report

Annula Return Date: 17 Feb 2011

Individual Directors

Name	Status	DOB	Filed Address	Appointment Date	Resignation Date	Summary of Directorships
Ranjit Kaur Chawla	Current	15 May 1942	Unit 4 Trafalgar Business Park, Broughton Lane, Manchester, Greater Manchester M8 9TZ	17 Feb 1993	NA	Current:2 Previous:0 Disqualifications:0
Ravinder Singh Chawla	Current	20 Nov 1968	1 Eyebrook Road, Bowdon, Altrincham, Cheshire WA14 3LR	17 Feb 1993	NA	Current:3 Previous:3 Disqualifications:0
Darshan Lal Chawla	Current	01 Nov 1942	Unit 4 Trafalgar Business Park, Broughton Lane, Manchester, Greater Manchester M8 9TZ	17 Feb 1993	NA	Current:3 Previous:0 Disqualifications:0
Kulvinder Chawla	Current	05 Feb 1974	Unit 4 Trafalgar Business Park, Broughton Lane, Manchester, Greater Manchester M8 9TZ	06 Apr 1998	NA	Current:4 Previous:1 Disqualifications:0

Corporate Directors

There are no corporate directors for this company.

Individual Secretaries

Name	Status	DOB	Filed Address	Appointment Date	Resignation Date	Summary of Directorships
Raj Chawla	Current	NA	Unit 4 Trafalgar Business Park, Broughton Lane, Manchester, Greater Manchester M8 9TZ	06 Apr 1998	NA	Current:4 Previous:0 Disqualifications:0
Ravinder Singh Chawla	Previous	20 Nov 1968	1 Eyebrook Road, Bowdon, Altrincham, Cheshire WA14 3LR	17 Feb 1993	05 Apr 1998	Current:3 Previous:3 Disqualifications:0

Corporate Secretaries

There are no corporate secretaries for this company.

Individual Shareholders

Name	Share Details (As Reported)	Share Type	# of Shares	Share Price (GBP)	Share Value (GBP)	% of Total Shares
D L Chawla	33 Ordinary GBP 1.00	Ordinary	33	1.00	33.00	33.33
R K Chawla	33 Ordinary GBP 1.00	Ordinary	33	1.00	33.00	33.33
R S Chawla	33 Ordinary GBP 1.00	Ordinary	33	1.00	33.00	33.33

Corporate Shareholders

There are no corporate shareholders for this company.

Annual Profit & Loss

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008	31-Mar-2007
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate (Period Average)	0.643394	0.627794	0.592803	0.498361	0.528925
Consolidated	No	No	No	No	No

Depreciation	0.0	0.0	-	-	-

Annual Balance Sheet

Financials in: USD (mil)


Financial Glossary

	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008	31-Mar-2007
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate	0.62385	0.659239	0.697666	0.503145	0.509853
Consolidated	No	No	No	No	No

Land & Buildings	-	-	0.0	0.0	0.0
Fixtures & Fittings	-	-	0.0	0.0	0.0
Plant & Vehicles	-	-	0.0	0.0	0.0
Total Tangible Fixed Assets	1.3	1.2	0.0	0.0	0.0
Intangible Assets	0.0	0.0	0.0	0.0	0.0
Investments	0.0	0.0	0.0	0.0	0.0
Total Fixed Assets	1.3	1.2	0.0	0.0	0.0
Total Stocks Work In Progress	0.2	0.1	0.1	0.7	0.6
Total Debtors	2.3	3.2	3.3	2.9	3.3
Cash and Equivalents	3.6	1.5	1.1	1.6	0.8
Other Current Assets	0.0	0.0	0.0	0.0	0.0
Total Current Assets	6.2	4.8	4.5	5.2	4.7
Total Assets	7.5	6.1	4.5	5.2	4.7
Other Current Liabilities	1.2	0.8	0.7	0.9	1.0
Total Current Liabilities	1.2	0.8	0.7	0.9	1.0
Group Loans (Long Term Liability)	-	-	0.0	0.0	0.0
Director Loans (Long Term Liability)	-	-	0.0	0.0	0.0
Hire Purchase (Long Term Liability)	-	-	0.0	0.0	0.0
Leasing (Long Term Liability)	-	-	0.0	0.0	0.0
Total Hire Purchase Loans (Long Term Liability)	-	-	0.0	0.0	0.0
Other Long Term Loans	-	-	0.0	0.0	0.0
Accruals/Deferred Income (Long Term Liability)	-	-	0.0	0.0	0.0
Other Long Term Liabilities	0.7	0.7	0.0	0.0	0.0
Total Long Term Liabilities	0.7	0.7	0.0	0.0	0.0
Deferred Taxation	0.0	0.0	0.0	0.0	0.0
Other Provisions	0.0	0.0	0.0	0.0	0.0
Total Provisions	0.0	0.0	0.0	0.0	0.0
Issued Capital	0.0	0.0	0.0	0.0	0.0
Share Premium Accounts	0.0	0.0	0.0	0.0	0.0
Revaluation Reserve	0.0	0.0	0.0	0.0	0.0
Retained Earnings	5.5	4.5	3.8	4.4	3.7
Other Reserves	0.0	0.0	0.0	0.0	0.0
Minority Interests (Balance Sheet)	0.0	0.0	0.0	0.0	0.0
Total Shareholders Funds	5.5	4.5	3.8	4.4	3.7
Net Worth	5.5	4.5	3.8	4.4	3.7

Annual Cash Flows

Financials in: USD (mil)


Financial Glossary

	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008	31-Mar-2007
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate (Period Average)	0.643394	0.627794	0.592803	0.498361	0.528925
Consolidated	No	No	No	No	No

Annual Ratios

Financials in: USD (mil)

	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008	31-Mar-2007
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate	0.62385	0.659239	0.697666	0.503145	0.509853
Consolidated	No	No	No	No	No

Current Ratio	5.03	5.75	6.42	5.89	4.76
Liquidity Ratio	4.86	5.58	6.32	5.06	4.11
Equity Gearing	73.76%	74.03%	84.41%	83.03%	79.01%

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.10
UK Pound	1	Rs.81.30
Euro	1	Rs.70.07

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.