MIRA INFORM REPORT

Report Date :

13.01.2012

IDENTIFICATION DETAILS

Name :	BROWNS FASTENERS LIMITED

Formerly Known As :	BROWNS OF GILDERSOME LIMITED

Registered Office :	P O BOX 13 Deanfield Mills, Asquith Avenue, Morley, LS27 9RE

Country :	United Kingdom

Financials (as on) :	31.03.2011

Date of Incorporation :	30.06.1953

Com. Reg. No.:	00521228

Legal Form :	Private limited with Share Capital

Line of Business :	Suppliers of Fasteners

No. of Employees :	Not Available

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 :	£25,000

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 – 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

REGISTERED NAME & COMPANY SUMMARY

Company Name	BROWNS FASTENERS LIMITED	Company Number	00521228
		Safe Number	UK00205591
Registered Address	P O BOX 13 DEANFIELD MILLS	Trading Address	Asquith Avenue Morley Leeds West Yorkshire LS27 9QS
	ASQUITH AVENUE
	MORLEY
	LS27 9RE
Website Address	http://www.brownsfasteners.co.uk
Telephone Number	01132522185	Fax Number	01132520826
TPS	No	FPS	Yes
Incorporation Date	30/06/1953	Company Status	Active - Accounts Filed
Previous Name	BROWNS OF GILDERSOME LIMITED	Type	Private limited with Share Capital
Date of Change	06/03/1989	Filing Date of Accounts	04/11/2011
		Share Capital	£850
SIC03	5190	Currency	GBP
SIC03 Description	OTHER WHOLESALE
SIC07	46900
SIC07 Description	NON-SPECIALISED WHOLESALE TRADE
Principal Activity	Wholesale.

CREDIT recommendation

Current Credit Limit: £25,000

Credit Rating / Limit additional comments:

DIRECTORS/MANAGEMENT

Current Directors

Name	Tony Wilber	Date of Birth	08/05/1953
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	15/06/1991
Address	5 Keldale Gardens, Sharow, Ripon, HG4 5BA
Other Actions	View Director Report	View Consumer Report	View Trace Report

Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Mark Andrew Ainsworth	Date of Birth	01/01/1962
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	01/11/2003
Address	77 Altrincham Road, , Gatley, SK8 4EG
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	Tony Wilber	Date of Birth	08/05/1953
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Company Secretary
Appointment Date	20/08/2008
Address	5 Keldale Gardens, Sharow, Ripon, HG4 5BA

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Mark Adrian Harland	0	2
Mark Adrian Harland	0	2
Courtley Philip Jagger	0	1
Raymond Thompson	0	1
Glyn Anthony Brown	3	4

NEGATIVE INFORMATION

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	0

Exact CCJ Details

There are no exact CCJ details

Possible CCJ Details

There are no possible CCJ details

Writ Details

There are no writ details

Mortgage Summary

Outstanding	2
Satisfied	2

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Individual Share Value
TONY WILBER	425 ORDINARY GBP 1.00
CAROL WILBER	275 ORDINARY GBP 1.00
MARK ANDREW AINSWORTH	100 ORDINARY GBP 1.00
M.A. MARLAND	50 ORDINARY GBP 1.00

PAYMENT INFORMATION

GROUP STRUCTURE & AFFILIATED COMPANIES

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company

Ownership Status

Ultimate Holding Company

Group structure

Statistics

Group	0 companies
Linkages	0 companies
Countries	In 0 countries

FINANCIAL INFORMATION

Profit & Loss

Date Of Accounts	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	31/03/08	(%)	31/03/07
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	-	-	-	-	-	-	-	-	-
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages & Salaries	-	-	-	-	-	-	-	-	-
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	-	-	-	-	-	-	-	-	-
Depreciation	£35,349	34.9%	£26,211	-14.9%	£30,800	33.3%	£23,114	-8.4%	£25,235
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	31/03/08	(%)	31/03/07
Tangible Assets	£155,426	3.6%	£149,974	50.8%	£99,462	-10.3%	£110,840	-24.4%	£146,685
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£155,426	3.6%	£149,974	50.8%	£99,462	-10.3%	£110,840	-24.4%	£146,685
Stock	£728,485	25.8%	£579,044	0.1%	£578,303	-15.4%	£683,544	0.4%	£680,736
Trade Debtors	£585,178	-6.1%	£623,381	4.3%	£597,839	-24%	£786,920	13.2%	£695,332
Cash	£13,101	-45.7%	£24,128	999.9%	£21	-99.8%	£11,410	167.9%	£4,259
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£1,326,764	8.2%	£1,226,553	4.3%	£1,176,163	-20.6%	£1,481,874	7.4%	£1,380,327
Trade Creditors	£628,833	6.7%	£589,385	7.3%	£549,054	-26.8%	£750,298	25.1%	£599,701
Bank Loans & Overdrafts	£281,324	8.4%	£259,558	-8.2%	£282,742	-34%	£428,689	-20.1%	£536,390
Other Short Term Finance	£27,541	22.7%	£22,450	219%	£7,038	-70.5%	£23,851	-15.7%	£28,296
Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	0
Total Current Liabilities	£937,698	7.6%	£871,393	3.9%	£838,834	-30.3%	£1,202,838	3.3%	£1,164,387
Bank Loans & Overdrafts and LTL	£302,186	7.6%	£280,845	-1.2%	£284,242	-34.5%	£433,627	-26.9%	£593,448
Other Long Term Finance	£11,362	-17.6%	£13,787	-	0	-100%	£1,038	-95.7%	£24,050
Total Long Term Liabilities	£20,862	-2%	£21,287	999.9%	£1,500	-69.6%	£4,938	-91.3%	£57,058

Capital & Reserves

Date Of Accounts	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	31/03/08	(%)	31/03/07
Called Up Share Capital	£850	-	£850	-5.6%	£900	-	£900	-	£900
P & L Account Reserve	£513,230	8.4%	£473,447	11.4%	£424,891	13.4%	£374,538	26.9%	£295,167
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£9,550	-	£9,550	0.5%	£9,500	-	£9,500	-	£9,500
Shareholder Funds	£523,630	8.2%	£483,847	11.2%	£435,291	13.1%	£384,938	26%	£305,567

Other Financial Items

Date Of Accounts	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	31/03/08	(%)	31/03/07
Net Worth	£523,630	8.2%	£483,847	11.2%	£435,291	13.1%	£384,938	26%	£305,567
Working Capital	£389,066	9.5%	£355,160	5.3%	£337,329	20.9%	£279,036	29.2%	£215,940
Total Assets	£1,482,190	7.7%	£1,376,527	7.9%	£1,275,625	-19.9%	£1,592,714	4.3%	£1,527,012
Total Liabilities	£958,560	7.4%	£892,680	6.2%	£840,334	-30.4%	£1,207,776	-1.1%	£1,221,445
Net Assets	£523,630	8.2%	£483,847	11.2%	£435,291	13.1%	£384,938	26%	£305,567

Cash Flow

Date Of Accounts	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	31/03/08	(%)	31/03/07
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	31/03/08	(%)	31/03/07
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£544,492	7.8%	£505,134	15.6%	£436,791	12%	£389,876	7.5%	£362,625
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors	SAGARS LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	THE ROYAL BANK OF SCOTLAND PLC
Bank Branch Code

Ratios

Date Of Accounts	31/03/11	31/03/10	31/03/09	31/03/08	31/03/07
Pre-tax profit margin %	-	-	-	-	-
Current ratio	1.41	1.41	1.40	1.23	1.19
Sales/Net Working Capital	-	-	-	-	-
Gearing %	57.70	58	65.30	112.60	194.20
Equity in %	35.30	35.10	34.10	24.20	20
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	0.63	0.74	0.71	0.66	0.60
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	1.79	1.80	1.92	3.12	3.81
Total Debt Ratio	1.83	1.84	1.93	3.13	3.99
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Previous Company Names

Date	Previous Name	Companies House Documents
06/03/1989	BROWNS OF GILDERSOME LIMITED	View Document

Mortgage Details

Mortgage Type:	FIXED AND FLOATING CHARGE
Date Charge Created:	31/12/04
Date Charge Registered:	14/01/05
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	THE ROYAL BANK OF SCOTLAND COMMERCIAL SERVICES LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	DEBENTURE
Date Charge Created:	26/05/91
Date Charge Registered:	30/05/91
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	THE ROYAL BANK OF SCOTLAND PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Mortgage Type:	CHARGE OVER ALL BOOK DEBTS
Date Charge Created:	12/06/84
Date Charge Registered:	15/06/84
Date Charge Satisfied:	22/07/91
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ALL BOOK AND OTHER DEBTS NOW AND FROM TIME TO TIME HEREAFTER DUE OWING OR INCURRED TO THE COMPANY

Mortgage Type:	FLOATING CHARGE
Date Charge Created:	29/09/77
Date Charge Registered:	05/10/77
Date Charge Satisfied:	22/07/91
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK LTD
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FLOATING CHARGE ON THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLEDCAPITAL

Creditor Details

No Creditor Data

Total Value

Trade Debtors / Bad Debt Detail

No Debtor Data

Total Value

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

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

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.