MIRA INFORM REPORT

Report Date :

06.02.2012

IDENTIFICATION DETAILS

Name :	WESTINGHOUSE BRAKE & EQUIPMENT LTD.

Registered Office :	The Green, Ryhope Village, Sunderland, Sr2 0pf.

Country :	United Kingdom

Financials (as on) :	30.11.2010

Date of Incorporation :	17.12.1996

Com. Reg. No.:	03293155

Legal Form :	Private Limited

Line of Business :	Wholesalers of Trackers Automotive parts.

No. of Employees :	4

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	GBP 9,750
Status :	Moderate
Payment Behaviour :	Slow
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 Identification Details

Subject Reported on	WESTINGHOUSE BRAKE & EQUIPMENT LTD.
Registration Number	03293155
VAT Number	GB756184508
Address	THE GREEN, RYHOPE VILLAGE, SUNDERLAND, TYNE AND WEAR, SR2 0PF.
Telephone	0191 521 2111
Facsimile	0191 521 2112

Creditline Recommendations

Monthly Credit Guide

GBP 9,750

Official Company Data

Legal Form	Private Limited
Registration Number	03293155
VAT Number	GB756184508
Subject Status	Trading
Date of Incorporation	17/12/1996
Registered Office	THE GREEN, RYHOPE VILLAGE, SUNDERLAND, SR2 0PF.
History	18/12/2007 : The Registered Office address changed from 42 MARY STREET, SILKSWORTH, SUNDERLAND, TYNE.
	5/12/2003 : The Registered Office address changed from 31 RYHOPE ROAD, SUNDERLAND, TYNE & WEAR, SR2.
Date of Last Annual Return to Registry	12/12/2011
Accounts	The last filed accounts at Companies House are those to 30/11/2010
Accounting Reference Date	30/11

Operations

Activities	Wholesalers of Trackers Automotive parts.
Nace Code	5030
Premises	Owned,Offices
Staff Employed	4
Trade Names	WBE AIR BRAKE DISTRIBUTOR
Bankers	BARCLAYS BANK PLC
Address	SUNDERLAND 2.
Sort Code	208373
Auditors	TTR Barnes

Previous Searches

Search History Summary

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

Search History Details

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

Date	Description
09/12/2010	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	31/03/2011

Details of most recent Mortgages, Charges and Satisfactions

Date Fully Satisfied	Date Registered	Date Created	Charge Description	Form Type	Lender
	08/04/2011	31/03/2011	Mortgage Debenture	MG01	Svenska Handelsbanken Ab (Publ)

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	JANICE YOUNG
Service Address	THE GREEN, RYHOPE VILLAGE, SUNDERLAND, TYNE & WEAR, SR2 0PF.
Country of Origin	UNITED KINGDOM
Appointment Date	17/12/1996

Directors

Director	GEOFFREY BRUCE YOUNG
Service Address	THE GREEN, RYHOPE VILLAGE, SUNDERLAND, TYNE & WEAR, SR2 0PF.
Country of Origin	UNITED KINGDOM
Date of Birth	30/01/1955
Appointment Date	17/12/1996
Other Directorships	MAVERICK COMPONENTS (UK) LIMITED

Share Capital

Shares	Ordinary GBP 1.00
Issued Number	2
Principal Shareholder	1 Geoffrey Bruce Young
	1 Janice Young

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

Financial Data– Statutory Accounts

Profit & Loss Accounts are not available for companies categorised as small companies under the companies act.

For annual accounts images, view the Document Image list

Balance Sheet

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	30/11/2010	30/11/2009	30/11/2008	30/11/2007
Currency	GBP	GBP	GBP	GBP
TOTAL FIXED ASSETS	50	68	72	61
Tangible Assets	25	41	43	30
Intangible Assets	25	27	29	31
TOTAL CURRENT ASSETS	235	263	238	304
Trade debtors	104	127	99	182
Stocks	128	114	130	110
Other Current Assets	3	22	9	12
Cash	3	22	9	12
TOTAL ASSETS	285	331	310	365
TOTAL CURRENT LIABILITIES	197	221	184	251
Trade creditors	197	221	184	202
Short Term Loans				49
Bank Overdraft				49
WORKING CAPITAL	38	42	54	53
TOTAL LONG TERM LIABS	6	8	3	2
NET ASSETS/(LIABILITIES)	82	102	123	112
SHARE CAPITAL + RESERVES	82	102	123	112
Profit and Loss account	82	102	123	112
SHAREHOLDERS FUNDS	82	102	123	112
CAPITAL EMPLOYED	88	110	126	114

Financial Comparison

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	30/11/2010	30/11/2009	30/11/2008	30/11/2007
Currency	GBP	GBP	GBP	GBP
Liquid Assets	107	149	108	194
Net Working Capital	38	42	54	53
Other Deferred Liabs	6	8	3	2
Tangible Net Worth(T.N.W)	57	75	94	81
Equity	82	102	123	112
Number of Years Trading	14	13	12	11

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	30/11/2010	30/11/2009	30/11/2008	30/11/2007
Current Ratio	1.2	1.2	1.3	1.2
Quick Ratio	0.5	0.7	0.6	0.8
T.N.W/Total Assets%	20	22.7	30.3	22.2
Borrowing Ratio%				60.5
Equity Gearing%	40.4	44.5	65.8	44.3

Key Industry Sector Trends

Year	2011	2010	2009	2008
Sample Size	1696	4098	4028	3995
Pre-Tax Profit Margin	5	4.9	4.1	4.6
Current Ratio	1.4	1.4	1.4	1.4
Borrowing Ratio	64.5	68.8	64.7	65
Return on Capital	26.3	33.1	38.7	39.4
Creditors Days	46	58	61	61

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Sale of motor vehicle parts and accessories

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.

No Pre-Tax Profit

The Company is exempt from the requirement to file a Profit Loss Account. We note that the difference on the Profit and Loss Account shownon the Balance Sheet is GBP 20,000 decrease. This suggests that the Company may have made a post-tax loss of GBP 20,000.

Working Capital

The subject's working capital decreased by 10 % in the period but remains positive.

Net Worth

Net worth reduced by GBP 20,000 during the period and now stands at GBP 82,000.

Fixed Assets

The subject's fixed assets reduced during the year by GBP 18,000 to GBP 50,000 and are now 17 % of total assets compared with 20 % in the previous year.

Long Term Liabilities

The company's long term liabilities reduced during the period by 25 % and are now 7 % of net worth compared with 8 % in the previous period.

Long Term Liabilities

Long term liabilities are now 2 % of total liabilities compared with 2 % in the previous period.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.48.96
UK Pound	1	Rs.77.46
Euro	1	Rs.64.39

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.