MIRA INFORM REPORT

Report Date :

16.01.2012

IDENTIFICATION DETAILS

Name :	S. SACKER (CLAYDON) LIMITED
Registered Office :	Railway Siding, Gipping Road, Ipswich, Suffolk, IP6 0JB.
Country :	United Kingdom
Financials (as on) :	30.04.2011
Date of Incorporation :	03.11.1980
Com. Reg. No.:	01526052
Legal Form :	Private Limited
Line of Business :	The recycling of scrap metal.
No. of Employees :	52

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 115,000
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 – September 30, 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	S. SACKER (CLAYDON) LIMITED
Registration Number	01526052
Address	RAILWAY SIDING, GIPPING ROAD, IPSWICH, SUFFOLK, IP6 0JB.
Telephone	01473 830 373
Facsimile	01473 832 535
Email	recycle@sackers.co.uk
Web Address	www.sackers.co.uk

Creditline Recommendations

Monthly Credit Guide

GBP 115,000

Official Company Data

Legal Form	Private Limited
Registration Number	01526052
Subject Status	Trading
Date of Incorporation	03/11/1980
Registered Office	RAILWAY SIDINGS, GIPPING ROAD GREAT, BLAKENHAM IPSWICH, SUFFOLK, IP6 0JB.
History	13/07/2000 : The Registered Office address changed from RAILWAY SIDINGS, CLAYDON, NEAR IPSWICH, SUFFO.
	7/02/1985 : Change of name from CLAYDON METALS LIMITED.
	31/12/1981 : Change of name from WALEPARK LIMITED.
Date of Last Annual Return to Registry	10/07/2011
Accounts	The last filed accounts at Companies House are those to 30/04/2011
Accounting Reference Date	30/04

Operations

Activities	The recycling of scrap metal.
Nace Code	3710
Staff Employed	52
Bankers	HSBC BANK PLC
Address	STOWMARKET.
Sort Code	404337
Auditors	Ensors

Historical Rating

Date	Monthly Credit Guide
12/01/2012	115,000
12/10/2011	115,000
12/07/2011	81,000
12/04/2011	85,000
12/01/2011	85,000

Previous Searches

Search History Summary

Last 3 Months	Last 6 Months	Last 12 Months
1	5	17

Search History Details

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

Date	Description
12/12/2011	Miscellaneous
10/10/2011	Miscellaneous
08/09/2011	Miscellaneous
15/08/2011	Miscellaneous
28/07/2011	Miscellaneous
15/06/2011	Miscellaneous
15/06/2011	Miscellaneous
14/06/2011	Miscellaneous
13/06/2011	Miscellaneous
13/06/2011	Miscellaneous
17/05/2011	Miscellaneous
17/05/2011	Miscellaneous
05/05/2011	Miscellaneous
04/05/2011	Miscellaneous
22/03/2011	Miscellaneous
01/03/2011	Miscellaneous
08/02/2011	Miscellaneous
17/12/2010	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	14
Number Outstanding	5
Number Partially Satisfied	0
Number Satisfied	9
Date of Latest Mortgage Created	28/10/2008
Date of Latest Satisfaction	27/01/2009

Details of most recent Mortgages,

Charges and Satisfactions

Date Fully Satisfied	Date Registered	Date Created	Charge Description	Form Type	Lender
	01/11/2008	28/10/2008	Mortgage	395	Barclays Bank Plc
	18/01/2008	08/01/2008	Debenture	395	Barclays Bank Plc
27/01/2009	24/01/2007	19/01/2007	Legal Mortgage	395	Hsbc Bank Plc
	19/10/2004	18/10/2004	Chattel Mortgage	395	Hsbc Bank Plc
	07/06/2003	04/06/2003	Chattel Mortgage	395	Hsbc Bank Plc
	08/01/2003	06/01/2003	Chattel Mortgage	395	Hsbc Bank Plc
27/01/2009	03/06/2000	01/06/2000	Legal Mortgage	395	Hsbc Bank Plc
27/01/2009	28/12/1996	20/12/1996	Legal Mortgage	395	Midland Bank Plc
27/01/2009	10/01/1992	09/01/1992	Legal Charge	395	Midland Bank Plc
27/01/2009	21/11/1991	20/11/1991	Chattel Mortgage	395	Midland 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

19/10/2007	Companies House Gazette	Alteration in memorandum or articles of association
30/07/2003	Companies House Gazette	Change among directors of a company
24/07/1996	Companies House Gazette	Change among directors of a company
27/08/1994	Companies House Gazette	Change among directors of a company
04/05/1990	Companies House Gazette	Change among directors of a company
31/07/1987	Companies House Gazette	Certification of registration for plc
27/08/1985	Companies House Gazette	Change among directors of a company
23/07/1985	Companies House Gazette	Alteration in memorandum or articles of association

Company Secretary

Secretary	MR EWAN CHRISTOPHER CAMERON DODDS
Service Address	RAILWAY SIDINGS, GIPPING ROAD GREAT, BLAKENHAM IPSWICH, SUFFOLK, IP6 0JB.
Country of Origin	UNITED KINGDOM
Date of Birth	01/10/1959
Appointment Date	01/10/1994
Other Directorships	WHYBROW & DODDS LIMITED

Directors

Director	MR CHARLES ANTHONY ROBERT DODDS
Service Address	RAILWAY SIDINGS, GIPPING ROAD GREAT, BLAKENHAM IPSWICH, SUFFOLK, IP6 0JB.
Country of Origin	UNITED KINGDOM
Date of Birth	06/05/1931
Appointment Date	09/07/1991
Director	MRS BERYL IDA DODDS
Service Address	RAILWAY SIDINGS, GIPPING ROAD GREAT, BLAKENHAM IPSWICH, SUFFOLK, IP6 0JB.
Country of Origin	UNITED KINGDOM
Date of Birth	08/09/1934
Appointment Date	09/07/1995
Director	MR ADRIAN ALEXANDER DODDS
Service Address	RAILWAY SIDINGS, GIPPING ROAD GREAT, BLAKENHAM IPSWICH, SUFFOLK, IP6 0JB.
Country of Origin	UNITED KINGDOM
Date of Birth	17/12/1960
Appointment Date	09/07/1991
Other Directorships	EXPOSURE 2000 LIMITED, THE BRITISH METALS RECYCLING ASSOCIATION
Director	MR DAVID GRAEME DODDS
Service Address	RAILWAY SIDINGS, GIPPING ROAD GREAT, BLAKENHAM IPSWICH, SUFFOLK, IP6 0JB.
Country of Origin	UNITED KINGDOM
Date of Birth	28/07/1962
Appointment Date	09/07/1991
Other Directorships	EXPOSURE 2000 LIMITED
Director	MR EWAN CHRISTOPHER CAMERON DODDS
Service Address	RAILWAY SIDINGS, GIPPING ROAD GREAT, BLAKENHAM IPSWICH, SUFFOLK, IP6 0JB.
Country of Origin	UNITED KINGDOM
Date of Birth	01/10/1959
Appointment Date	09/07/1991
Other Directorships	WHYBROW & DODDS LIMITED

Share Capital

Shares	Ordinary GBP 1.00
Issued Number	100
Principal Shareholder	30 Adrian Alexander Dodds
	30 David Graeme Dodds
	15 Charles Anthony Robert Dodds
	15 Beryl Ida Dodds
	10 Ewan Christopher Cameron Dodds

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	30/04/2011	30/04/2010	30/04/2009	30/04/2008
Currency	GBP	GBP	GBP	GBP
SALES	22938	17392	10950
UK sales			6990
Export			3960
Cost of goods sold		15003	9180
GROSS PROFIT		2389	1770	2129
Wages and Salaries	1363	1220	1148	1050
Directors Emoluments	352	248	295	356
Auditors Fees	6	6	6	6
Trading Profit	1388	921	720	1016
Depreciation	552	544	373	368
OPERATING PROFIT	836	377	347	648
Non Trading Income	18		3	6
Interest Payable	294	311	272	230
PRE TAX PROFIT	560	66	78	424
Taxation	103	25	6	188
PROFIT AFTER TAX	457	41	72	236
Dividends Payable	18			30
RETAINED PROFITS	439	41	72	206

Balance Sheet

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	30/04/2011	30/04/2010	30/04/2009	30/04/2008
Currency	GBP	GBP	GBP	GBP
TOTAL FIXED ASSETS	6885	7143	7162	5941
Tangible Assets	6885	7143	7162	5941
Fixed Assets	6875	7139	7159	5931
Intermediate assets	10	4	3	10
TOTAL CURRENT ASSETS	4183	3178	2064	3228
Trade debtors	3036	1606	970	2449
Stocks	806	1105	774	589
Other Current Assets	341	467	320	190
Misc Current Assets	305	405	290	147
Cash	36	62	30	43
TOTAL ASSETS	11068	10321	9226	9169
TOTAL CURRENT LIABILITIES	4143	3354	2131	2921
Trade creditors	2384	1580	1146	1940
Short Term Loans	775	1086	566	490
Bank Overdraft	619	884	437	292
Other Finance	156	202	116	146
Due To Directors			13	52
Other Liabilities	984	688	419	491
WORKING CAPITAL	40	(176)	(67)	307
TOTAL LONG TERM LIABS	4126	4607	4776	4001
Long Term Loans	3607	4190	4384	3631
Bank Loans	3445	3980	4213	3406
Other Finance	162	210	171	225
Other Liabilities	519	417	392	370
NET ASSETS/(LIABILITIES)	2799	2360	2319	2247
SHARE CAPITAL + RESERVES	2799	2360	2319	2247
Profit and Loss account	2799	2360	2319	2247
SHAREHOLDERS FUNDS	2799	2360	2319	2247
CAPITAL EMPLOYED	6925	6967	7095	6248

Financial Comparison

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	30/04/2011	30/04/2010	30/04/2009	30/04/2008
Currency	GBP	GBP	GBP	GBP
Net Cashflow from Oper.	1355	653	1803	75
Increase in Cash	392	(362)	(93)	67
Directors Remuneration	352	248	295	356
Auditors Remuneration	6	6	6	6
Liquid Assets	3072	1668	1000	2492
Net Working Capital	40	(176)	(67)	307
Long Term Debt(>12 Months)	3607	4190	4384	3631
Other Deferred Liabs	519	417	392	370
Tangible Net Worth(T.N.W)	2799	2360	2319	2247
Equity	2799	2360	2319	2247
Number of Years Trading	31	30	29	28
Number of Employees	52	51	48	44
Profit per Employee	10769.2	1294.1	1625	9636.4
Sales per Employee	441115.4	341019.6	228125

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	30/04/2011	30/04/2010	30/04/2009	30/04/2008
Current Ratio	1	0.9	1	1.1
Long Term Debt/T.N.W	1.3	1.8	1.9	1.6
Pre Tax Profit Margin%	2.4	0.4	0.7
Gross Profit%		13.7	16.2
Debtors Days (D.S.O)	48	34	32
Creditors Days (D.P.O)	38	33	38
Quick Ratio	0.8	0.6	0.6	0.9
W.I.P/Inventory Days		26.9	30.8
Return on Investment%	11.1	4.7	4.6	9.7
Return on Assets%	5.1	0.6	0.8	4.6
T.N.W/Total Assets%	25.3	22.9	25.1	24.5
Return on Capital%	8.1	0.9	1.1	6.8
Rtn on Shareholders Funds%	20	2.8	3.4	18.9
Working Capital/Sales%	0.2	(1)	(0.6)
Borrowing Ratio%	156.6	223.6	213.5	183.4
Equity Gearing%	33.8	29.6	33.6	32.5
Stock Turnover	28.5	15.7	14.1
Days Purchases Outstanding		38.4	45.6
Sales/Fixed Assets	3.3	2.4	1.5
Debt Gearing	128.9	177.5	189	161.6

Key Industry Sector Trends

Year	2011	2010	2009	2008
Sample Size	334	980	915	832
Pre-Tax Profit Margin	1.1	3	1.7	5.9
Current Ratio	1.4	1.3	1.4	1.4
Borrowing Ratio	(12.8)	22.1	48.5	51.8
Return on Capital	35	38.6	25.6	40.9
Creditors Days	27	59	60	38

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Recycling of metal waste and scrap

Financial Summary

Auditors Qualification

The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 30/04/2011.

Turnover

Turnover increased by 32 % in the period and now totals GBP 22,938,000.

Operating Profit

Totalled GBP 836,000. In the year prior a Profit of GBP 377,000 was achieved.

Pre Tax Profit

The subject's profit increased by 748 % in the year.

Working Capital

The subject has turned a deficient working capital of GBP 176,000 to surplus of GBP 40,000.

Net Worth

Net worth has increased by 19 % and now stands at GBP 2,799,000.

Fixed Assets

The subject's fixed assets reduced during the year by GBP 258,000 to GBP 6,885,000 and are now 62 % of total assets compared with 69 % in the previous year.

Long Term Liabilities

The company's long term liabilities reduced during the period by 10 % and are now 147 % of net worth compared with 195 % in the previous period.

Long Term Liabilities

Long term liabilities are now 37 % of total liabilities compared with 45 % in the previous period.

Long Term Liabilities

Long term liabilities are 60 % of capital employed, a decrease of 6 % over the previous period.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.43
UK Pound	1	Rs.79.10
Euro	1	Rs.66.17

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.