MIRA INFORM REPORT

Report Date :

11.04.2012

IDENTIFICATION DETAILS

Name :	MANTIS DEPOSITION LIMITED
Registered Office :	2 Goodson Mews Wellington Street, Thame, Oxfordshire, Ox9 3bx
Country :	United Kingdom
Financials (as on) :	31.07.2010
Date of Incorporation :	09.07.2003
Com. Reg. No.:	04827076
Legal Form :	Private Limited Company
Line of Business :	The design & manufacture of scientific equipment
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	GBP 9,000
Status :	Moderate
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 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
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	MANTIS DEPOSITION LIMITED
Registration Number	04827076
Address	UNIT 2, GOODSON IND MEWS WELLINGTON S, THAME, OXFORDSHIRE, OX9 3BX.
Telephone	01844 260160

Creditline Recommendations

Monthly Credit Guide

GBP 9,000

Official Company Data

Legal Form	Private Limited
Registration Number	04827076
Subject Status	Trading
Date of Incorporation	09/07/2003
Registered Office	2 GOODSON MEWS WELLINGTON STREET, THAME, OXFORDSHIRE, OX9 3BX.
History	26/09/2009 : The Registered Office address changed from 3A LOWER ROAD, CHINNOR, OXFORDSHIRE, OX39 4DT.
	10/07/2003 : The Registered Office address changed from 44 UPPER BELGRAVE ROAD, CLIFTON, BRISTOL, BS8.
Date of Last Annual Return to Registry	09/07/2011
Accounts	The last filed accounts at Companies House are those to 31/07/2010
Accounting Reference Date	31/12

Operations

Activities	The design & manufacture of scientific equipment.
Nace Code	3162
Auditors	Richardsons
Subsidiaries	MANTIS COATINGS LIMITED

Previous Searches

Search History Summary

Last 3 Months	Last 6 Months	Last 12 Months
0	1	4

Search History Details

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

Date	Description
10/11/2011	Miscellaneous
10/10/2011	Miscellaneous
26/08/2011	Miscellaneous
27/05/2011	Miscellaneous
24/05/2010	Investigation activities

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	7
Number Outstanding	5
Number Partially Satisfied	0
Number Satisfied	2
Date of Latest Mortgage Created	08/06/2011
Date of Latest Satisfaction	04/05/2011

Details of most recent Mortgages, Charges and Satisfactions

Date Fully Satisfied	Date Registered	Date Created	Charge Description	Form Type	Lender
	11/06/2011	08/06/2011	Charge Of Deposit	MG01	National Westminster Bank Plc
	11/06/2011	08/06/2011	Charge Of Deposit	MG01	National Westminster Bank Plc
	01/06/2011	25/05/2011	Charge Of Deposit	MG01	National Westminster Bank Plc
	10/07/2010	05/07/2010	Assignment Of Life Policy	MG01	Nvm Private Equity Limited
	10/07/2010	05/07/2010	Composite Guarantee And Debenture	MG01	Nvm Private Equity Limited
03/07/2010	01/03/2006	24/02/2006	Debenture	395	Hsbc Bank Plc
04/05/2011	07/10/2003	06/10/2003	Debenture	395	National Westminster Bank 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

27/09/2011	Companies House Gazette	Notification of any change among the company's directors
28/10/2010	Companies House Gazette	Notification of any change among the company's directors
23/10/2010	Companies House Gazette	Notification of any change among the company's directors
14/07/2010	Companies House Gazette	Notification of any change among the company's directors
17/10/2006	Companies House Gazette	Change among directors of a company
17/01/2006	Companies House Gazette	Resolutions or agreements to which section 380 applies (relating to shares rights or names)
17/01/2006	Companies House Gazette	Alteration in memorandum or articles of association

Company Secretary

Secretary	MRS CATHERINE RUTH LAW
Service Address	2 GOODSON MEWS WELLINGTON STREET, THAME, OXFORDSHIRE, OX9 3BX.
Country of Origin	UNITED KINGDOM
Appointment Date	30/04/2011

Directors

Director	ALISTAIR HENDERSON KEAN
Service Address	8 PYRTON LANE, WATLINGTON, OXFORDSHIRE, OX49 5LX.
Country of Origin	UNITED KINGDOM
Date of Birth	15/04/1961
Appointment Date	12/10/2006
Director	MR ANDREW PHILLIP PEARSON
Service Address	2 GOODSON MEWS WELLINGTON STREET, THAME, OXFORDSHIRE, OX9 3BX.
Country of Origin	UNITED KINGDOM
Date of Birth	03/05/1958
Appointment Date	05/07/2010
Other Directorships	WAYPOINT CHANGE LLP, K.M.B. TELEMARKETING LIMITED, WAYPOINT HOLDINGS LIMITED, MANTIS DEPOSITION HOLDINGS LTD, PHUSION HEALTHCARE LTD
Director	DR LARS ALLERS
Service Address	2 GOODSON MEWS WELLINGTON STREET, THAME, OXFORDSHIRE, OX9 3BX.
Country of Origin	GERMANY
Date of Birth	24/03/1970
Appointment Date	09/07/2003
Other Directorships	MANTIS DEPOSITION HOLDINGS LTD
Director	JULIA WALSH
Service Address	2 GOODSON MEWS WELLINGTON STREET, THAME, OXFORDSHIRE, OX9 3BX.
Country of Origin	UNITED KINGDOM
Date of Birth	21/11/1948
Appointment Date	05/07/2010
Director	MR THOMAS WYNNE-POWELL
Service Address	21 FERN HILL ROAD, OXFORD, OXFORDSHIRE, OX4 2JN.
Country of Origin	UNITED KINGDOM
Date of Birth	11/07/1979
Appointment Date	05/10/2010

Share Capital

Shares	Preference GBP 1.00
Issued Number	120,000
Shares	Ordinary GBP 1.00
Issued Number	200,100
Principal Shareholder	200,100 Mantis Deposition Holdings Ltd
	120,000 Mantis Deposition Holdings Ltd

The above reflects the principle shareholder(s) by number of shares held, irrespective of share classification type.

Holding Company	MANTIS DEPOSITION HOLDINGS LTD
Ultimate Parent	MANTIS DEPOSITION HOLDINGS LTD

Financial Data– Statutory Accounts

Profit and Loss

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/07/2010	31/07/2009	31/07/2008	31/07/2007
Currency	GBP	GBP	GBP	GBP
SALES		1586	803	492
Cost of goods sold		961	237	88
GROSS PROFIT		625	566	404
Directors Emoluments		128	114	89
Trading Profit		112	72	8
Depreciation		40	12	16
OPERATING PROFIT		72	60	(8)
Non Trading Income			61	51
Interest Payable		2	2	1
PRE TAX PROFIT		70	119	42
PROFIT AFTER TAX		70	119	42
RETAINED PROFITS		70	119	42

Balance Sheet

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/07/2010	31/07/2009	31/07/2008	31/07/2007
Currency	GBP	GBP	GBP	GBP
TOTAL FIXED ASSETS	103	112	53	27
Tangible Assets	103	112	53	27
Fixed Assets		112	53	27
TOTAL CURRENT ASSETS	675	570	443	310
Trade debtors	298	200	11	228
Stocks	377	243	374	60
Other Current Assets		127	58	22
Misc Current Assets		50	19	22
Cash		77	39
TOTAL ASSETS	778	682	496	337
TOTAL CURRENT LIABILITIES	463	420	258	247
Trade creditors	463	104	215	175
Short Term Loans		25	38	59
Bank Overdraft			30	37
Other Finance		7	6	11
Due To Directors		18	2	11
Other Liabilities		291	5	13
WORKING CAPITAL	212	150	185	63
TOTAL LONG TERM LIABS	313	76	122	94
Long Term Loans		76	122	94
Other Finance		76	83	64
Due To Directors			39	30
NET ASSETS/(LIABILITIES)	2	186	116	(4)
SHARE CAPITAL + RESERVES	2	186	116	(4)
Share Cap + Sundry Res	320	120	120	120
Issued Share Capital		120	120	120
Profit and Loss account	(318)	66	(4)	(124)
SHAREHOLDERS FUNDS	2	186	116	(4)
CAPITAL EMPLOYED	315	262	238	90

Financial Comparison

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/07/2010	31/07/2009	31/07/2008	31/07/2007
Currency	GBP	GBP	GBP	GBP
Directors Remuneration		128	114	89
Liquid Assets	298	277	50	228
Net Working Capital	212	150	185	63
Long Term Debt(>12 Months)		76	122	94
Other Deferred Liabs	313
Tangible Net Worth(T.N.W)	2	186	116	(4)
Equity	2	186	116	(4)
Number of Years Trading	7	6	5	4

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	31/07/2010	31/07/2009	31/07/2008	31/07/2007
Current Ratio	1.5	1.4	1.7	1.3
Long Term Debt/T.N.W		0.4	1.1	(23.5)
Pre Tax Profit Margin%		4.4	14.8	8.5
Gross Profit%		39.4	70.5	82.1
Debtors Days (D.S.O)		46	5	169
Creditors Days (D.P.O)		24	98	130
Quick Ratio	0.6	0.8	0.3	1
W.I.P/Inventory Days		92.3	576	248.9
Return on Investment%		25.1	43.8	28.9
Return on Assets%		10.3	24	12.5
T.N.W/Total Assets%	0.3	27.3	23.4	(1.2)
Return on Capital%		26.7	50	46.7
Rtn on Shareholders Funds%		37.6	102.6	(1050)
Working Capital/Sales%		9.5	23	12.8
Borrowing Ratio%		54.3	137.9	(3825)
Equity Gearing%	0.3	37.5	30.5	(1.2)
Stock Turnover		6.5	2.1	8.2
Days Purchases Outstanding		39.5	331.1	725.9
Sales/Fixed Assets		14.2	15.2	18.2
Debt Gearing		40.9	105.2	(2350)

Key Industry Sector Trends

Year	2011	2010	2009	2008
Sample Size	1419	2561	2569	2600
Pre-Tax Profit Margin	8	6.9	6.5	8.5
Current Ratio	1.9	1.9	1.9	1.8
Borrowing Ratio	26.5	35.8	34.5	41.5
Return on Capital	29.6	30.1	35.3	40
Creditors Days	46	92	74	77

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Manufacture of electrical equipment 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.

Working Capital

The company's working capital has increased by 41 % in the period.

Net Worth

Net worth reduced by GBP 184,000 during the period and now stands at GBP 2,000.

Fixed Assets

The subject's fixed assets reduced during the year by GBP 9,000 to GBP 103,000 and are now 13 % of total assets compared with 16 % in the previous year.

Long Term Liabilities

The company's long term liabilities increased during the period by 311% and are now 15,650 % of net worth compared with 41 % in the previous period.

Long Term Liabilities

Long term liabilities are now 40 % of total liabilities compared with 11 % in the previous period.

Long Term Liabilities

Long term liabilities are 99 % of capital employed, an increase of 70 % over the previous period.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.20
UK Pound	1	Rs.81.50
Euro	1	Rs.67.15

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.