MIRA INFORM REPORT

Report Date :

25.02.2012

IDENTIFICATION DETAILS

Name :	SQF 2009 LIMITED
Registered Office :	Woodbridge Road, East Road Industrial Estate, Sleaford, Lincolnshire, Ng34 7jx.
Country :	United Kingdom
Financials (as on) :	31.12.2010
Date of Incorporation :	15.10.2009
Com. Reg. No.:	07045183
Legal Form :	Private Limited Company
Line of Business :	A group engaged in import, processing and distribution of dehydrated and canned foods
No. of Employees :	86

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 43,500
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^th, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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 Identification Details

Subject Reported on	SQF 2009 LIMITED
Registration Number	07045183

Creditline Recommendations

Monthly Credit Guide

GBP 43,500

Official Company Data

Legal Form	Private Limited
Registration Number	07045183
Subject Status	Trading
Date of Incorporation	15/10/2009
Registered Office	WOODBRIDGE ROAD, EAST ROAD INDUSTRIAL ESTATE, SLEAFORD, LINCOLNSHIRE, NG34 7JX.
Date of Last Annual Return to Registry	15/10/2011
Accounts	The last filed accounts at Companies House are those to 31/12/2010
Accounting Reference Date	31/03

Operations

Activities	A group engaged in import, processing and distribution of dehydrated and canned foods.
Nace Code	1531
Auditors	PKF (UK) LLP
Subsidiaries	ARNOLDS QUICK DRIED FOODS LIMITED
	SLEAFORD FOOD GROUP LIMITED

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
13/01/2011	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	3
Number Outstanding	3
Number Partially Satisfied	0
Number Satisfied	0
Date of Latest Mortgage Created	11/12/2009

Details of most recent Mortgages, Charges and Satisfactions

Date Fully Satisfied	Date Registered	Date Created	Charge Description	Form Type	Lender
	12/12/2009	11/12/2009	Omnibus Guarantee And Set-Off Agreement	MG01	Lloyds Tsb Bank Plc
	12/12/2009	11/12/2009	All Assets Debenture	MG01	Lloyds Tsb Commercial Finance Limited
	12/12/2009	11/12/2009	Debenture	MG01	Lloyds Tsb 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

07/01/2011	Companies House Gazette	Notification of any change among the company's directors
20/11/2010	Companies House Gazette	Any amendment to company's articles (including every resolution or agreement required to be embodied in or annexed to copies of the company's articles issued by
21/11/2009	Companies House Gazette	Notification of any change among the company's directors
23/10/2009	Companies House Gazette	Notification of any change among the company's directors

Directors

Director	MR JAMES PATRICK ARNOLD
Service Address	BROOK HOUSE SPRING LANE, HORBLING, SLEAFORD, LINCOLNSHIRE, NG34 0PF.
Country of Origin	UNITED KINGDOM
Date of Birth	23/01/1965
Appointment Date	19/11/2009
Other Directorships	SLEAFORD QUALITY FOODS LIMITED, ARNOLDS QUICK DRIED FOODS LIMITED, SLEAFORD LIMITED, SLEAFORD FOOD GROUP LIMITED
Director	MR ANIL BHAVARLAL JAIN
Service Address	GROVE HOUSE 551 LONDON ROAD, ISLEWORTH, MIDDLESEX, TW7 4DS.
Country of Origin	INDIA
Date of Birth	10/03/1965
Appointment Date	02/11/2010
Other Directorships	SLEAFORD QUALITY FOODS LIMITED, ARNOLDS QUICK DRIED FOODS LIMITED, JAIN (EUROPE) LIMITED, SLEAFORD FOOD GROUP LIMITED
Director	MR ATUL JAIN
Service Address	GROVE HOUSE 551 LONDON ROAD, ISLEWORTH, MIDDLESEX, TW7 4DS.
Country of Origin	INDIA
Date of Birth	06/01/1969
Appointment Date	02/11/2010
Other Directorships	SLEAFORD QUALITY FOODS LIMITED, ARNOLDS QUICK DRIED FOODS LIMITED, SLEAFORD FOOD GROUP LIMITED
Director	MR SUVAN KUMAR SHARMA
Service Address	GROVE HOUSE 551 LONDON ROAD, ISLEWORTH, MIDDLESEX, TW7 4DS.
Country of Origin	UNITED KINGDOM
Date of Birth	21/04/1972
Appointment Date	02/11/2010
Other Directorships	SLEAFORD QUALITY FOODS LIMITED, ARNOLDS QUICK DRIED FOODS LIMITED, SLEAFORD FOOD GROUP LIMITED

Share Capital

Shares	Ordinary GBP 1.00
Issued Number	100
Principal Shareholder	100 James Arnold

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

Ultimate Parent

JAIN IRRIGATION SYSTEMS LTD, a company incorporated in INDIA

Financial Data– Statutory Accounts

Profit and Loss

The following figures are shown in units of 1000

Number of Weeks	63
Accounts Date	31/12/2010
Consolidated	Yes
Currency	GBP
SALES	28399
UK sales	27793
Export	606
Cost of goods sold	22565
GROSS PROFIT	5834
Wages and Salaries	2088
Directors Emoluments	261
Auditors Fees	12
Trading Profit	1630
Depreciation	223
OPERATING PROFIT	1407
Interest Payable	107
PRE TAX PROFIT	1300
Taxation	298
PROFIT AFTER TAX	1002
RETAINED PROFITS	1002

Balance Sheet

The following figures are shown in units of 1000

Number of Weeks	63
Accounts Date	31/12/2010
Consolidated	Yes
Currency	GBP
TOTAL FIXED ASSETS	2778
Tangible Assets	2778
Fixed Assets	2778
TOTAL CURRENT ASSETS	7584
Trade debtors	5136
Stocks	2303
Other Current Assets	145
Misc Current Assets	123
Cash	22
TOTAL ASSETS	10362
TOTAL CURRENT LIABILITIES	7814
Trade creditors	3737
Short Term Loans	3328
Bank Overdraft	3292
Other Finance	36
Other Liabilities	749
WORKING CAPITAL	(230)
TOTAL LONG TERM LIABS	685
Long Term Loans	260
Other Finance	260
Other Liabilities	425
NET ASSETS/(LIABILITIES)	1863
SHARE CAPITAL + RESERVES	1863
Share Cap + Sundry Res	860
Sundry Reserves	860
Profit and Loss account	1003
SHAREHOLDERS FUNDS	1863
CAPITAL EMPLOYED	2548

Financial Comparison

The following figures are shown in units of 1000

Number of Weeks	63
Accounts Date	31/12/2010
Consolidated	Yes
Currency	GBP
Net Cashflow from Oper.	1341
Increase in Cash	(119)
Directors Remuneration	261
Auditors Remuneration	12
Liquid Assets	5158
Net Working Capital	(230)
Long Term Debt(>12 Months)	260
Other Deferred Liabs	425
Tangible Net Worth(T.N.W)	1863
Equity	1863
Number of Years Trading	1
Number of Employees	86
Profit per Employee	15116.3
Sales per Employee	330220.9

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	31/12/2010
Consolidated	Yes
Current Ratio	1
Long Term Debt/T.N.W	0.1
Pre Tax Profit Margin%	4.6
Gross Profit%	20.5
Debtors Days (D.S.O)	66
Creditors Days (D.P.O)	48
Quick Ratio	0.7
W.I.P/Inventory Days	37.3
Return on Investment%	23.9
Return on Assets%	12.5
T.N.W/Total Assets%	18
Return on Capital%	51
Rtn on Shareholders Funds%	69.8
Working Capital/Sales%	(0.8)
Borrowing Ratio%	192.6
Equity Gearing%	21.9
Stock Turnover	12.3
Days Purchases Outstanding	60.4
Sales/Fixed Assets	10.2
Debt Gearing	14

Key Industry Sector Trends

Year	2011	2010	2009	2008
Sample Size	161	385	378	390
Pre-Tax Profit Margin	3.3	3.1	2.8	3.5
Current Ratio	1.7	1.5	1.4	1.4
Borrowing Ratio	53	63.6	74.8	38
Return on Capital	23.6	19.8	20.7	20.6
Creditors Days	37	40	42	51

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Processing and preserving of fruit and vegetables

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.

Only Turnover

Turnover for the year was 28,399,000.

Profit or Loss

Pre-tax Profit was GBP 1,300,000.

Operating Profit

Profit for the year was GBP 1,407,000.

Working Capital

At the end of the period the company had working capital of GBP -230,000, current ratio of 1.0 and a quick ratio of .7.

Net Worth

Net worth was GBP 1,863,000.

Long Term Liabilities

Long term liabilities were GBP 685,000 which are 7 % of total liabilities and 27 % of capital employed.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.07
UK Pound	1	Rs.77.19
Euro	1	Rs.65.57

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.