MIRA INFORM REPORT

Report Date :

20.04.2012

IDENTIFICATION DETAILS

Name :	MONTGOMERY TOMLINSON LIMITED
Formerly Known As :	THE BRONICO COMPANY LTD
Registered Office :	Broughton Mills Road, Bretton, Chester, Ch4 0by
Country :	United Kingdom
Financials (as on) :	31.12.2010
Date of Incorporation :	20.06.1928
Com. Reg. No.:	00231354
Legal Form :	Private Limited Company
Line of Business :	A group engaged in the design of fabrics and the manufacture and retail of curtains and accessories
No. of Employees :	668

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Maximum Credit Limit :	GBP 128,000
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 – 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	MONTGOMERY TOMLINSON LIMITED
Registration Number	00231354
VAT Number	GB160560585
Address	BROUGHTON INDUSTRIAL ESTATE, BROUGHTON MILLS ROAD, CHESTER, CHESHIRE, CH4 0BY.
Telephone	01244 661363
Email	info@montgomery.co.uk
Web Address	www.montgomery.co.uk

Creditline Recommendations

Monthly Credit Guide

GBP 128,000

Official Company Data

Legal Form	Private Limited
Registration Number	00231354
VAT Number	GB160560585
Subject Status	Trading
Date of Incorporation	20/06/1928
Registered Office	BROUGHTON MILLS ROAD, BRETTON, CHESTER, CH4 0BY.
History	25/04/1952 : Change of name from THE BRONICO COMPANY LTD.
Date of Last Annual Return to Registry	24/10/2011
Registered Objectives	TO CARRY ON BUSINESS AS DEALERS IN ART SILKS
Accounts	The last filed accounts at Companies House are those to 31/12/2010
Accounting Reference Date	31/12

Operations

Activities	A group engaged in the design of fabrics and the manufacture and retail of curtains and accessories.
Nace Code	1723
Premises	Owned,Offices,Factory,Warehouse
Staff Employed	668
Trade Names	MONTGOMERY INTERIOR FABRI
Import Countries	ALL OVER THE WORLD
Export Countries	ALL OVER THE WORLD
Bankers	BANK OF SCOTLAND
Address	MANCHESTER.
Sort Code	120895
Auditors	Grant Thornton UK LLP
Branches	CONCESSIONS IN DEPARTMENT, STORES THROUGHOUT THE UK.
	DEBENHAMS, STAFFORD STREET, HANLEY, STOKE ON TRENT, ST1 1LT.
	BROUGHTON INDUSTRIAL ESTATE, BROUGHTON MILLS ROAD, CHESTER, CHESHIRE, CH4 0BY.
Subsidiaries	MONTGOMERY TOMLINSON EB TRUSTEES LIMITED

Previous Searches

Search History Summary

Last 3 Months	Last 6 Months	Last 12 Months
1	1	5

Search History Details

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

Date	Description
22/02/2012	Miscellaneous
11/10/2011	Miscellaneous
11/10/2011	Miscellaneous
20/09/2011	Miscellaneous
03/08/2011	Miscellaneous
23/03/2011	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	15
Number Outstanding	3
Number Partially Satisfied	0
Number Satisfied	12
Date of Latest Mortgage Created	01/04/2011
Date of Latest Satisfaction	10/11/2006

Details of most recent Mortgages, Charges and Satisfactions

Date Fully Satisfied	Date Registered	Date Created	Charge Description	Form Type	Lender
	05/04/2011	01/04/2011	Debenture	MG01	Bank Of Scotland Plc
	04/11/2006	31/10/2006	Debenture	395	The Governor And Company Of The Bank Of Scotland
	04/11/2006	31/10/2006	Legal Charge	395	The Governor And Company Of The Bank Of Scotland
10/11/2006	01/07/1994	28/06/1994	Mortgage Debenture	395	National Westminster Bank Plc
10/11/2006	11/01/1991	09/01/1991	Legal Mortgage	N/A	National Westminster Bank Plc
10/11/2006	27/09/1989	21/09/1989	Legal Charge	N/A	John Kenneth Dickin Roberts
10/11/2006	09/06/1981	02/06/1981	Legal Mortgage	N/A	National Westminster Bank Plc
10/11/2006	09/06/1981	02/06/1981	Legal Mortgage	N/A	National Westminster Bank Plc
10/11/2006	09/06/1981	02/06/1981	Legal Charge	N/A	National Westminster Bank Plc
10/11/2006	09/06/1981	02/06/1981	Legal Mortgage	N/A	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

05/11/2010	Companies House Gazette	Notification of any change among the company's directors
11/02/2010	Companies House Gazette	Notification of any change among the company's directors
22/10/2009	Companies House Gazette	Notification of any change among the company's directors
06/01/2007	Companies House Gazette	Change among directors of a company
27/09/2002	Companies House Gazette	Change among directors of a company
04/05/2002	Companies House Gazette	Change among directors of a company
29/05/1998	Companies House Gazette	Change among directors of a company
31/10/1996	Companies House Gazette	Change among directors of a company
27/10/1994	Companies House Gazette	Change among directors of a company
09/11/1990	Companies House Gazette	Change among directors of a company
19/11/1988	Companies House Gazette	Documents delivered by a company under section 241 (annual accounts)
17/09/1986	Companies House Gazette	Change among directors of a company

Company Secretary

Secretary	PHILIP JOHN SMITH
Service Address	DEEHILLS 24 STATION LANE, MICKLE TRAFFORD, CHESTER, CH2 4EH.
Country of Origin	UNITED KINGDOM
Date of Birth	25/01/1953
Appointment Date	01/05/2002
Other Directorships	MONTGOMERY TOMLINSON EB TRUSTEES LIMITED

Directors

Director	PHILIP JOHN SMITH
Service Address	DEEHILLS 24 STATION LANE, MICKLE TRAFFORD, CHESTER, CH2 4EH.
Country of Origin	UNITED KINGDOM
Date of Birth	25/01/1953
Appointment Date	24/10/1991
Other Directorships	MONTGOMERY TOMLINSON EB TRUSTEES LIMITED
Director	LOUISE ANNE TOMLINSON
Service Address	6 SANDY LANE, BOUGHTON, CHESTER, CHESHIRE, CH3 5UL.
Country of Origin	UNITED KINGDOM
Date of Birth	15/02/1962
Appointment Date	05/01/1998
Director	GRAHAME MONTGOMERY TOMLINSON
Service Address	6 SANDY LANE, CHESTER, CHESHIRE, CH3 5UL.
Country of Origin	UNITED KINGDOM
Date of Birth	03/05/1936
Appointment Date	24/10/1991
Other Directorships	MONTGOMERY TOMLINSON EB TRUSTEES LIMITED
Director	JOANNE MCEWAN
Service Address	NO 12 THE MALT HOUSE, GREEN END FARM, BROUGHTON CHESTER, CHESHIRE, CH4 0RU.
Country of Origin	UNITED KINGDOM
Date of Birth	03/08/1970
Appointment Date	01/01/2007
Director	MR BARRY STEPHEN GOODMAN-KING
Service Address	BROUGHTON MILLS ROAD, BRETTON, CHESTER, CH4 0BY.
Country of Origin	UNITED KINGDOM
Date of Birth	22/06/1966
Appointment Date	04/01/2010

Share Capital

Shares	Ordinary GBP 1.00
Issued Number	35,026
Principal Shareholder	27,135 Grahame Tomlinson
	3,849 Philip John Smith
	3,849 Clifford Roberts
	193 John Tomlinson

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

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	31/12/2010	31/12/2009	31/12/2008	31/12/2007
Consolidated	Yes	Yes	Yes	Yes
Currency	GBP	GBP	GBP	GBP
SALES	23261	25722	27874	28731
UK sales	22608	25024	26687	28003
Export	653	698	1187	728
Cost of goods sold	14269	15888	17158	17887
GROSS PROFIT	8992	9834	10716	10844
Wages and Salaries	7074	7644	8577	8653
Directors Emoluments	678	763	991	1086
Auditors Fees	26	26	26	26
Non-Audit Fees	8	7	12	8
Trading Profit	151	671	505	442
Depreciation	213	230	262	262
OPERATING PROFIT	(62)	441	243	180
Non Trading Income	(15)	19	174
Interest Payable	69	75	218	193
PRE TAX PROFIT	(146)	385	199	(13)
Taxation	(43)	100	28	(140)
PROFIT AFTER TAX	(103)	285	171	127
RETAINED PROFITS	(103)	285	171	127

Balance Sheet

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/12/2010	31/12/2009	31/12/2008	31/12/2007
Consolidated	Yes	Yes	Yes	Yes
Currency	GBP	GBP	GBP	GBP
TOTAL FIXED ASSETS	2216	2413	2585	2725
Tangible Assets	2216	2413	2585	2725
Fixed Assets	2216	2384	2554	2725
Intermediate assets		29	31
TOTAL CURRENT ASSETS	7469	7789	8320	8815
Trade debtors	2536	2989	3380	3891
Stocks	4459	4503	4663	4490
Other Current Assets	474	297	277	434
Misc Current Assets	442	239	202	291
Cash	32	58	75	143
TOTAL ASSETS	9685	10202	10905	11540
TOTAL CURRENT LIABILITIES	3238	3422	4310	5138
Trade creditors	771	963	1385	1825
Short Term Loans	1122	762	1207	1204
Bank Overdraft	987	624	1051	806
Bank Loans	100	100	100	100
Other Finance	15	18	21
Due To Directors	20	20	35	298
Other Liabilities	1345	1697	1718	2109
WORKING CAPITAL	4231	4367	4010	3677
TOTAL LONG TERM LIABS	1088	1180	1230	1356
Long Term Loans	975	1091	1229	1300
Bank Loans	975	1075	1200	1300
Other Finance		16	29
Other Liabilities	113	89	1	56
NET ASSETS/(LIABILITIES)	5359	5600	5365	5046
SHARE CAPITAL + RESERVES	5359	5600	5365	5046
Share Cap + Sundry Res	147	151	156	160
Issued Share Capital	35	35	35	35
Sundry Reserves	112	116	121	125
Profit and Loss account	5212	5449	5209	4886
SHAREHOLDERS FUNDS	5359	5600	5365	5046
CAPITAL EMPLOYED	6447	6780	6595	6402

Financial Comparison

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/12/2010	31/12/2009	31/12/2008	31/12/2007
Consolidated	Yes	Yes	Yes	Yes
Currency	GBP	GBP	GBP	GBP
Net Cashflow from Oper.	(137)	674	153	1093
Increase in Cash	(389)	410	(313)	406
Directors Remuneration	678	763	991	1086
Auditors Remuneration	26	26	26	26
Liquid Assets	2568	3047	3455	4034
Net Working Capital	4231	4367	4010	3677
Long Term Debt(>12 Months)	975	1091	1229	1300
Other Deferred Liabs	113	89	1	56
Tangible Net Worth(T.N.W)	5359	5600	5365	5046
Equity	5359	5600	5365	5046
Number of Years Trading	82	81	80	79
Number of Employees	668	740	814	811
Profit per Employee	(218.6)	520.3	244.5	(16)
Sales per Employee	34821.9	34759.5	34243.2	35426.6

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	31/12/2010	31/12/2009	31/12/2008	31/12/2007
Consolidated	Yes	Yes	Yes	Yes
Current Ratio	2.3	2.3	1.9	1.7
Long Term Debt/T.N.W	0.2	0.2	0.2	0.3
Pre Tax Profit Margin%	(0.6)	1.5	0.7
Gross Profit%	38.7	38.2	38.4	37.7
Debtors Days (D.S.O)	40	42	44	49
Creditors Days (D.P.O)	12	14	18	23
Quick Ratio	0.9	1	0.8	0.8
W.I.P/Inventory Days	114.1	103.4	99.2	91.6
Return on Investment%	(1)	6.1	5.3	2.4
Return on Assets%	(1.5)	3.8	1.8	(0.1)
T.N.W/Total Assets%	55.3	54.9	49.2	43.7
Return on Capital%	(2.3)	5.7	3	(0.2)
Rtn on Shareholders Funds%	(2.7)	6.9	3.7	(0.3)
Working Capital/Sales%	18.2	17	14.4	12.8
Borrowing Ratio%	39.1	33.1	45.4	49.6
Equity Gearing%	123.9	121.7	96.8	77.7
Stock Turnover	5.2	5.7	6	6.4
Days Purchases Outstanding	19.7	22.1	29.5	37.2
Sales/Fixed Assets	10.5	10.8	10.9	10.5
Debt Gearing	18.2	19.5	22.9	25.8

Key Industry Sector Trends

Year	2011	2010	2009	2008
Sample Size	86	163	165	162
Pre-Tax Profit Margin	(0.1)			1.4
Current Ratio	1.8	1.9	1.9	1.9
Borrowing Ratio	21.9	129.5	35.3	(21.9)
Return on Capital	(2.5)	7.6	7.5	16.9
Creditors Days	55	56	58	43

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Textile weaving

Financial Summary

Auditors Qualification

The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 31/12/2010.

Turnover

Turnover decreased by more than 10 % in the year and totalled GBP 23,261,000 for the period.

Operating Loss

Totalled GBP 62,000. In the year prior a Profit of GBP 441,000 was achieved.

Pre Tax Profit

The subject made a loss of GBP 146,000 in the period compared with a profit of GBP 385,000 in the previous period.

Working Capital

The company's working capital remains positive but reduced by 3 % in the period.

Net Worth

Net worth reduced by GBP 241,000 during the period and now stands at GBP 5,359,000.

Fixed Assets

The subject's fixed assets reduced during the year by GBP 197,000 to GBP 2,216,000 and are now 22 % of total assets compared with 23 % in the previous year.

Long Term Liabilities

The company's long term liabilities reduced during the period by 7 % and are now 20 % of net worth compared with 21 % in the previous period.

Long Term Liabilities

Long term liabilities are now 11 % of total liabilities compared with 12 % in the previous period.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.89
UK Pound	1	Rs.83.18
Euro	1	Rs.68.06

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.