MIRA INFORM REPORT

Report Date :

14.06.2012

IDENTIFICATION DETAILS

Name :	TIMBMET HOLDINGS LIMITED
Formerly Known As :	Terryglass limited
Registered Office :	Kemp House Cumnor Hill , Oxford, Ox2 9ph
Country :	United Kingdom
Financials (as on) :	31.03.2011
Date of Incorporation :	08.01.2008
Com. Reg. No.:	06466786
Legal Form :	Private limited with Share Capital
Line of Business :	Wholesaler of wood, construction materials
No. of Employees :	325

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

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

REGISTERED NAME & COMPANY SUMMARY

Summary

Company Name	TIMBMET HOLDINGS LIMITED	Company Number	06466786
Registered Address	KEMP HOUSE CUMNOR HILL	Trading Address	Kemp House Cumnor Hill Cumnor Oxford, Oxfordshire OX2 9PH
	OXFORD
	OXFORD
	OX2 9PH
Website Address	http://www.timbmet.co.uk
Telephone Number	01865862223	Fax Number
TPS	No	FPS	No
Incorporation Date	08/01/2008	Company Status	Active - Accounts Filed
Previous Name	TERRYGLASS LIMITED	Type	Private limited with Share Capital
Date of Change	27/05/2010	Filing Date of Accounts	08/10/2011
		Share Capital	£32,725
SIC03	5153	Currency	GBP
SIC03 Description	WHOLESALE OF WOOD, CONSTRUCTION MATERIALS
SIC07	46730
SIC07 Description	WHOLESALE OF WOOD, CONSTRUCTION MATERIALS AND SANITARY EQUIPMENT
Principal Activity	A group engaged in the importation and distribution of hardwoods, clear grade soft woods, sheet materials and hardwood flooring.

DIRECTORS/MANAGEMENT

Directors

TIMBMET HOLDINGS LIMITED

06466786

Total Current Directors	4
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	2

Current Directors

Name	John Peter Oswald Cole	Date of Birth	10/05/1946
Officers Title	Mr	Nationality	British
Present Appointments	9	Function	Director
Appointment Date	18/03/2008
Address	Buxton Court,  3 West Way,  Oxford,  OX2 0SZ
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Simon Lewis Fineman	Date of Birth	05/12/1959
Officers Title	Mr	Nationality	British
Present Appointments	25	Function	Director
Appointment Date	08/01/2008
Address	1 Farndon Road,  ,  Oxford,  OX2 6RS
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Stephen John Key	Date of Birth	20/08/1955
Officers Title	Mr	Nationality	British
Present Appointments	6	Function	Director
Appointment Date	18/03/2008
Address	Kemp House Cumnor Hill,  ,  Oxford,  OX2 9PH
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Evelyn Frances Kemp	Date of Birth	06/08/1961
Officers Title	Dr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	01/06/2010
Address	Kemp House Cumnor Hill,  ,  Oxford,  OX2 9PH
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	John William Dobson	Date of Birth	07/12/1951
Officers Title	Mr	Nationality	British
Present Appointments	40	Function	Company Secretary
Appointment Date	08/01/2008
Address	Japonica Cottage Blacksmith Lane,  Charlton On Otmoor,  Kidlington,  OX5 2UH

Auditors PRICEWATERHOUSECOOPERS LLP

Auditor Comments The audit report contains no adverse comments

Directors

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
CITY EXECUTOR AND TRUSTEE COMPANY LIMITED	38	503
CETC (NOMINEES) LIMITED	75	539

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 -	-

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	1
Satisfied	0

Full CCJ Details

Exact CCJ Details

No CCJs found

Possible CCJs Details

There are no possible CCJ details

Writ Details

No writs found

Mortgage Details

Mortgage Type:	DEBENTURE
Date Charge Created:	29/01/10
Date Charge Registered:	09/02/10
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLU DING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Individual Share Value
STEPHEN KEY & EVELYN KEMP	12,940 ORDINARY GBP 1.00
SIMON FINEMAN & EVELYN KEMP	6,000 ORDINARY GBP 1.00
EVELYN KEMP	3,925 ORDINARY GBP 1.00
SIMON KEMP	3,300 ORDINARY GBP 1.00
JOHN COLE & STEPHEN KEY	2,730 ORDINARY GBP 1.00
JOHN PETER COLE & STEPHEN KEY	2,730 ORDINARY GBP 1.00
DAVID COLE & JOHN COLE & EVELYN KEMP	1,000 ORDINARY GBP 1.00
SIMON FINEMAN	100 ORDINARY GBP 1.00

PAYMENT INFORMATION

Summary – Payment History

Last 3 Years Credit Limit

Date	Limit
31/12/2011	£570,000
31/12/2010	£590,000
31/12/2009	£1,000

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/03/2011	£90,087,000	£399,000	£18,913,000	325
31/03/2010	£84,753,000	£1,208,000	£18,974,000	364
31/03/2009	£98,044,000	-£6,917,000	£16,516,000	517

Payment Information Summary

Creditor & Debtor Details

Creditor Details

No Creditor Data

Total Value

-

Trade Debtors / Bad Debt Detail

No Debtor Data

Total Value

-

GROUP STRUCTURE & AFFILIATED COMPANIES

Group Structure

Summary

Holding Company	TIMBMET HOLDINGS LIMITED
Ownership Status	Ultimately Owned
Ultimate Holding Company	TIMBMET HOLDINGS LIMITED

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Limit	Turnover
TIMBMET HOLDINGS LIMITED	06466786	31.03.2011	Y	£650,000	£90,087,000
TIMBMET GROUP LIMITED	00375704	31.03.2011	N	£505,000
MITRE-MASTER LIMITED	02818428	31.03.2011	N	-
TIMBMET LIMITED	03009353	31.03.2011	N	£600,000	£86,710,098
C. LEARY & CO. LIMITED	03195797	31.03.2011	N	£50,000	£3,441,222
NOVA FORESTS LIMITED	06504163	31.03.2011	N	-
VINCENT MURPHY AND COMPANY...	03810570	31.03.2010	N	-
S. SILVERMAN & SON (IMPO...	00584040	31.03.2010	N	-

FINANCIAL INFORMATION

Profit & Loss

Date Of Accounts	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	-	(%)	-
Weeks	52	(%)	52	(%)	53	(%)	-	(%)	-
Currency	GBP	(%)	GBP	(%)	GBP	(%)	-	(%)	-
Consolidated A/cs	Y	(%)	Y	(%)	Y	(%)	-	(%)	-
Turnover	£90,087,000	6.3%	£84,753,000	-13.6%	£98,044,000	-	-	-	-
Export	-	-	-	-	£4,251,000	-	-	-	-
Cost of Sales	£70,148,000	-	£64,112,000	-13.1%	£73,748,000	-	-	-	-
Gross Profit	£19,939,000	-3.4%	£20,641,000	-15%	£24,296,000	-	-	-	-
Wages & Salaries	£11,022,000	-5.8%	£11,702,000	-35.6%	£18,162,000	-	-	-	-
Directors Emoluments	£635,000	27.3%	£499,000	36.3%	£366,000	-	-	-	-
Operating Profit	£1,260,000	-50.1%	£2,525,000	158.9%	-£4,287,000	-	-	-	-
Depreciation	£1,737,000	14.1%	£1,523,000	-40.1%	£2,541,000	-	-	-	-
Audit Fees	£74,000	4.2%	£71,000	-2.7%	£73,000	-	-	-	-
Interest Payments	£2,758,000	-1%	£2,787,000	-13.7%	£3,231,000	-	-	-	-
Pre Tax Profit	£399,000	-67%	£1,208,000	117.5%	-£6,917,000	-	-	-	-
Taxation	£125,000	-57.5%	£294,000	-48.6%	£572,000	-	-	-	-
Profit After Tax	£524,000	-65.1%	£1,502,000	123.7%	-£6,345,000	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	£524,000	-65.1%	£1,502,000	123.7%	-£6,345,000	-	-	-	-

Balance Sheet

Date Of Accounts	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	-	(%)	-
Tangible Assets	£28,068,000	-7.6%	£30,375,000	-3.8%	£31,574,000	-	-	-	-
Intangible Assets	£2,000	-	£2,000	100.1%	-£2,539,000	-	-	-	-
Total Fixed Assets	£28,070,000	-7.6%	£30,377,000	4.6%	£29,035,000	-	-	-	-
Stock	£12,878,000	11.7%	£11,528,000	-27.8%	£15,965,000	-	-	-	-
Trade Debtors	£20,529,000	16.3%	£17,646,000	-9.9%	£19,580,000	-	-	-	-
Cash	£2,617,000	57.9%	£1,657,000	28.8%	£1,286,000	-	-	-	-
Other Debtors	£1,551,000	-46.4%	£2,892,000	13.2%	£2,554,000	-	-	-	-
Miscellaneous Current Assets	0	-	0	-	0	-	-	-	-
Total Current Assets	£37,575,000	11.4%	£33,723,000	-14.4%	£39,385,000	-	-	-	-
Trade Creditors	£9,150,000	37.4%	£6,659,000	-16.2%	£7,946,000	-	-	-	-
Bank Loans & Overdrafts	£253,000	-98%	£12,592,000	-8.3%	£13,729,000	-	-	-	-
Other Short Term Finance	£1,895,000	-13%	£2,178,000	104.3%	£1,066,000	-	-	-	-
Miscellaneous Current Liabilities	£16,307,000	13.4%	£14,374,000	-21.7%	£18,354,000	-	-	-	-
Total Current Liabilities	£27,605,000	-22.9%	£35,803,000	-12.9%	£41,095,000	-	-	-	-
Bank Loans & Overdrafts and LTL	£19,380,000	-11.6%	£21,915,000	-10.7%	£24,538,000	-	-	-	-
Other Long Term Finance	£623,000	-47.1%	£1,178,000	-43.7%	£2,092,000	-	-	-	-
Total Long Term Liabilities	£19,127,000	105.2%	£9,323,000	-13.7%	£10,809,000	-	-	-	-

Capital & Reserves

Date Of Accounts	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	-	(%)	-
Called Up Share Capital	£33,000	-	£33,000	-	£33,000	-	-	-	-
P & L Account Reserve	-£8,415,000	-0.7%	-£8,354,000	22.7%	-£10,812,000	-	-	-	-
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£27,295,000	-	£27,295,000	-	£27,295,000	-	-	-	-
Shareholder Funds	£18,913,000	-0.3%	£18,974,000	14.9%	£16,516,000	-	-	-	-

Other Financial Items

Date Of Accounts	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	-	(%)	-
Net Worth	£18,911,000	-0.3%	£18,972,000	-0.4%	£19,055,000	-	-	-	-
Working Capital	£9,970,000	579.3%	-£2,080,000	-21.6%	-£1,710,000	-	-	-	-
Total Assets	£65,645,000	2.4%	£64,100,000	-6.3%	£68,420,000	-	-	-	-
Total Liabilities	£46,732,000	3.6%	£45,126,000	-13.1%	£51,904,000	-	-	-	-
Net Assets	£18,913,000	-0.3%	£18,974,000	14.9%	£16,516,000	-	-	-	-

Cash Flow

Date Of Accounts	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	-	(%)	-
Net Cashflow from Operations	£1,245,000	-62.5%	£3,318,000	-21.6%	£4,233,000	-	-	-	-
Net Cashflow before Financing	£1,881,000	-39.6%	£3,114,000	184.3%	-£3,694,000	-	-	-	-
Net Cashflow from Financing	-£921,000	56.7%	-£2,125,000	-165.7%	£3,233,000	-	-	-	-
Increase in Cash	£960,000	-2.9%	£989,000	314.5%	-£461,000	-	-	-	-

Miscellaneous

Date Of Accounts	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	-	(%)	-
Contingent Liability	NO	-	NO	-	NO	-	-	-	-
Capital Employed	£38,040,000	34.40%	£28,297,000	3.60%	£27,325,000	-	-	-	-
Number of Employees	325	-10.70%	364	-29.60%	517	-	-	-	-

Ratios

Date Of Accounts	31/03/11	31/03/10	31/03/09	-	-
Pre-tax profit margin %	0.44	1.43	-7.05	-	-
Current ratio	1.36	0.94	0.96	-	-
Sales/Net Working Capital	9.04	-40.75	-57.34	-	-
Gearing %	102.50	115.50	148.60	-	-
Equity in %	28.80	29.60	23.30	-	-
Creditor Days	36.97	28.59	30.06	-	-
Debtor Days	82.94	75.78	74.09	-	-
Liquidity/Acid Test	0.89	0.61	0.56	-	-
Return On Capital Employed %	1.04	4.26	-25.31	-	-
Return On Total Assets Employed %	0.60	1.88	-10.10	-	-
Current Debt Ratio	1.45	1.88	2.48	-	-
Total Debt Ratio	2.47	2.37	3.14	-	-
Stock Turnover Ratio %	14.29	13.60	16.28	-	-
Return on Net Assets Employed %	2.10	6.36	-41.88	-	-

ADDITIONAL INFORMATION

Commentary

No exact match CCJs are recorded against the company.
The credit limit on this company has risen 14% in comparison to the previously suggested credit limit.
Sales in the latest trading period increased 6.3% on the previous trading period.
Net Worth decreased by 0.3% during the latest trading period.
A 2.4% growth in Total Assets occurred during the latest trading period.
Pre-tax profits decreased by 67% compared to the previous trading period.
The company saw an increase in their Cash Balance of 57.9% during the latest trading period.
The audit report contains no adverse comments.
No recent changes in directorship are recorded.
The company is part of a group.
The company has changed its registered name recently.
The company was established over 4 years ago.

Bankers BARCLAYS BANK PLC Bank

Branch Code 20-65-18

Status History

No Status History found

Limit History

Date	Limit
18/01/2012	£650,000
17/10/2011	£570,000
20/09/2011	£550,000
01/03/2011	£260,000
21/12/2010	£590,000
17/12/2010	£485,000
31/05/2010	£700,000
15/02/2010	£750,000
13/01/2010	£0
04/03/2009	£1,000

Previous Company Names

Date	Previous Name
27/05/2010	TERRYGLASS LIMITED

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.85
UK Pound	1	Rs.86.88
Euro	1	Rs.69.88

INFORMATION DETAILS

Report Prepared by :

MNL

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.