MIRA INFORM REPORT

Report Date :

30.06.2012

IDENTIFICATION DETAILS

Name :	RICHARD MORREY LTD

Registered Office :	Unit 22 Battersea Road Stockport, SK4 3EA

Country :	United Kingdom

Financials (as on) :	31.12.2010

Date of Incorporation :	24.04.2008

Com. Reg. No.:	06576051

Legal Form :	Private Independent

Line of Business :	Manufacture of carpets and rugs

No. of Employees :	NA

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

11-25

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

Limited with full security

Status :	Moderate
Payment Behaviour :	Unknown
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, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

United Kingdom

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name aNd address

Richard Morrey Ltd

Unit 22 Battersea Road Stockport, SK4 3EA United Kingdom

Employees: NA

Company Type: Private Independent

Quoted Status: Non-quoted Company

Incorporation Date: 24-Apr-2008

Financials in: USD (mil)

Fiscal Year End: 31-Dec-2010

Reporting Currency: British Pound Sterling

Annual Sales: NA

Total Assets: 0.2

Industry

Industry Textiles - Non Apparel

ANZSIC 2006: 1331 - Textile Floor Covering Manufacturing

NACE 2002: 1751 - Manufacture of carpets and rugs

NAICS 2002: 314110 - Carpet and Rug Mills

UK SIC 2003: 17519 - Manufacture of other carpets and rugs

US SIC 1987: 2273 - Carpets and Rugs

Key Executives

Name Title

Richard James Morrey Director

Steven Sievwright Designer

News

Title

CLASSIC TALE: Kenneth Grahame's The
Sentinel, The (Stoke-on-Trent, UK) (73 Words)

Date: 29-Nov-2011

Financial Summary

FYE: 31-Dec-2010 USD (mil)

Key Figures
Current Assets	0.21
Fixed Assets	0.01
Total Liabilities	0.0000
Net Worth	0.0067

Key Ratios
Current Ratio	0.99
Liquidity Ratio	0.47

Registered No.(UK):

06576051

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6475734
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6387123

Corporate Overview

Location
Unit 22 Battersea Road Stockport, SK4 3EA Greater Manchester County United Kingdom

Sales GBP(mil): NA

Assets GBP(mil): 0.1

Employees: NA

Fiscal Year End: 31-Dec-2010

Industry: Textiles - Non Apparel

Registered Address:
Unit 22 Battersea Road Cheshire Stockport, SK4 3EA United Kingdom

Incorporation Date: 24-Apr-2008

Company Type: Private Independent

Quoted Status: Not Quoted

Registered No.(UK): 06576051

Director: Richard James Morrey

Industry Codes

ANZSIC 2006 Codes:

1331 - Textile Floor Covering Manufacturing

NACE 2002 Codes:

1751 - Manufacture of carpets and rugs

NAICS 2002 Codes:

314110 - Carpet and Rug Mills

US SIC 1987:

2273 - Carpets and Rugs

UK SIC 2003:

17519 - Manufacture of other carpets and rugs

Financial Data

Financials in: GBP(mil)

Assets: 0.1

Current Assets: 0.1

Fixed Assets: 0.0

Long Term Debt: 0.0

Issued Capital: 0.0

Working Capital: 0.0

Net Worth: 0.0

Date of Financial Data: 31-Dec-2010

1 Year Growth

Key Corporate Relationships

GBP(mil)

Audit Fees: 0.0

Audit Fiscal Year: 12-31-2010

Executives Report

Board of Directors

Name

Title

Function

Richard James Morrey

Director

Director/Board Member

Age: 45

Steven Sievwright

Designer Director/Board Member RM

Age: 32

Directors and Shareholders Report

Main Office Address:

Unit 22 Battersea Road Stockport United Kingdom SK4 3EA

Annual Return Date: 24 Apr 2012

Individual Directors

Name	Status	DOB	Filed Address	Appointment Date	Resignation Date	Summary of Directorships
Steven Sievwright	Current	14.06.1980	112 Vicus Liverpool Road, Salford, Greater Manchester M3 4AQ	01.08.2009	NA	Current:1 Previous:0 Disqualifications:0
Richard James Morrey	Current	24.10.1966.	Unit 22 Battersea Road, Stockport, Greater Manchester SK4 3EA	14.02.2011	NA	Current:1 Previous:1 Disqualifications:0
Richard James Morrey	Previous	24.10.1966	Unit 22 Battersea Road, Stockport, Greater Manchester SK4 3EA	24.04.2008	01.08.2009	Current:1 Previous:1 Disqualifications:0

Corporate Directors

There are no corporate directors for this company.

Individual Secretaries

There are no individual secretaries for this company.

Corporate Secretaries

There are no corporate secretaries for this company.

Individual Shareholders

Name	Share Details (As Reported)	Share Type	# of Shares	Share Price (GBP)	Share Value (GBP)	% of Total Shares
Richard Morrey	100 A Ordinary GBP 1.00	A Ordinary	100	1.00	100.00	50.00
Richard Morrey	70 B Ordinary GBP 1.00	B Ordinary	70	1.00	70.00	35.00
Steven Seivwright	30 B Ordinary GBP 1.00	B Ordinary	30	1.00	30.00	15.00

Corporate Shareholders

There are no corporate shareholders for this company.

Annual Profit & Loss

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008
Period Length	12 Months	12 Months	12 Months
Filed Currency	GBP	GBP	GBP
Exchange Rate (Period Average)	0.647573	0.641508	0.545576
Consolidated	No	No	No

Audit Fees	0.0	0.0	0.0

Annual Balance Sheet

Financials in: USD (mil)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008
Filed Currency	GBP	GBP	GBP
Exchange Rate	0.638712	0.619253	0.695531
Consolidated	No	No	No

Total Tangible Fixed Assets	0.0	0.0	-
Total Fixed Assets	0.0	0.0	-
Total Stocks	0.1	0.0	-
Trade Debtors	0.0	0.1	0.0
Cash and Equivalents	0.1	0.0	-
Other Current Assets	0.0	0.0	0.0
Total Current Assets	0.2	0.1	0.0
Total Assets	0.2	0.1	0.0
Trade Creditors	0.2	0.1	-
Bank Overdraft	0.0	0.0	0.0
Bank Loan Overdrafts	0.0	0.0	0.0
Total Short Term Loans	0.0	0.0	0.0
Other Current Liabilities	0.0	0.0	0.0
Total Current Liabilities	0.0	0.0	0.0
Working Capital	0.0	0.0	0.0
Total Long Term Loans	0.0	0.0	0.0
Other Long Term Liabilities	0.0	0.0	0.0
Total Long Term Liabilities	0.0	0.0	0.0
Issued Capital	0.0	-	-
Retained Earnings	0.0	0.0	-
Total Reserve	0.0	0.0	0.0
Total Shareholders Funds	0.0	0.0	0.0
Net Worth	0.0	0.0	0.0

Annual Cash Flows

Financials in: USD (mil)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008
Period Length	12 Months	12 Months	12 Months
Filed Currency	GBP	GBP	GBP
Exchange Rate (Period Average)	0.647573	0.641508	0.545576
Consolidated	No	No	No

Paid Up Equity	0.0	0.0	0.0

Annual Ratios

Financials in: USD (mil)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008
Period Length	12 Months	12 Months	12 Months
Filed Currency	-	-	-
Exchange Rate	-	-	-
Consolidated	No	No	No

Current Ratio	0.99	1.02	-
Liquidity Ratio	0.47	0.67	-
Solvency Ratio	3.03%	3.49%	100.00%
Current Debt Ratio	31.61	27.53	-
Long Term Debt Ratio	0.28	0.11	-
Total Debt Ratio	32.00	27.65	-
Debt Asset Ratio	95.79%	96.09%	-
Working Finance	8,003.43%	23,361.48%	-
Stock Financing	-35.48	17.39	-
Fixed Asset Investment	0.06	0.02	-
Shareholder Liquidity	2.57	8.32	-
Stock to Total Assets	201.85%	299.32%	-
Financial Strength Ratio	1.84	1.81	0.00
Reserve Movement	94.08%	-	-

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.31
UK Pound	1	Rs.88.06
Euro	1	Rs.70.91

INFORMATION DETAILS

Report Prepared by :

SHG

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.