MIRA INFORM REPORT

Report Date :

03.03.2012

IDENTIFICATION DETAILS

Name :	RIMATEX LIMITED

Registered Office :	First Floor Kirkland House, 11-15 Peterborough Road, Harrow, Middlesex, Ha1 2ax.

Country :	United Kingdom

Financials (as on) :	30.09.2010

Date of Incorporation :	18.05.1987

Com. Reg. No.:	02132452

Legal Form :	Private Limited Company

Line of Business :	Importers and wholesaler of textiles

No. of Employees :	07

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	Gbp 76,000

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^th, 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

Company Identification Details

Subject Reported on	RIMATEX LIMITED
Registration Number	02132452
Address	UNIT 10 BARRETT IND PARK, PARK AV, SOUTHALL, MIDDLESEX, UB1 3AF.
Telephone	020 85743363
Facsimile	020 85711647

Creditline Recommendations

Monthly Credit Guide

GBP 76,000

Official Company Data

Legal Form	Private Limited
Registration Number	02132452
Subject Status	Trading
Date of Incorporation	18/05/1987
Registered Office	FIRST FLOOR KIRKLAND HOUSE, 11-15 PETERBOROUGH ROAD, HARROW, MIDDLESEX, HA1 2AX.
History	1/11/2006 : The Registered Office address changed from 150 STRAND, LONDON, WC2R 1JA.
	16/10/2002 : The Registered Office address changed from 150 STRAND, LONDON, WC2R 1JP.
	4/10/2002 : The Registered Office address changed from 4TH FLOOR THERESE HOUSE, 29/30 GLASSHOUSE YAR.
	27/05/1999 : The Registered Office address changed from 252 GOSWELL ROAD, LONDON, EC1V 7EB.
Date of Last Annual Return to Registry	31/12/2011
Registered Objectives	TO CARRY ON BUSINESS AS WHOLESALERS AND DISTRIBUTORS.
Accounts	The last filed accounts at Companies House are those to 30/09/2010
Accounting Reference Date	31/03

Operations

Activities	Importers The import and wholesale of textiles.
Nace Code	5141
Staff Employed	7
Import Countries	JAPAN, INDIA
Bankers	CREDIT LYONNAIS
Address	P O BOX 81, 84-94 QUEEN VICTORIA STREET, LONDON, EC4P 4LX.
Auditors	John Cumming Ross Ltd

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

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	10
Number Outstanding	1
Number Partially Satisfied	0
Number Satisfied	9

Date of Latest Mortgage Created	13/12/2010
Date of Latest Satisfaction	03/09/2010

Details of most recent Mortgages, Charges and Satisfactions

Date Fully Satisfied	Date Registered	Date Created	Charge Description	Form Type	Lender
	23/12/2010	13/12/2010	Legal Charge	MG01	Habib Bank Ag Zurich
03/09/2010	27/10/2000	25/10/2000	General Letter Of Pledge And Charge	395	Bangkok Bank Public Company Limited
03/09/2010	27/10/2000	20/10/2000	Legal Charge	395	Leopold Joseph & Sons Limited
03/09/2010	05/10/1999	01/10/1999	Memorandum Of Pledge	395	Leopold Joseph & Sons Limited
03/09/2010	05/10/1999	01/10/1999	Legal Charge	395	Leopold Joseph & Sons Limited
03/09/2010	24/08/1996	20/08/1996	Memorandum Of Pledge	395	Bank Of Ireland
03/09/2010	12/08/1994	09/08/1994	Legal Charge	395	Meghraj Bank Limited
03/09/2010	26/05/1993	18/05/1993	Indemnity Pledge Charge Over Credit Balances.	395	Meghraj Bank Limited
03/09/2010	07/02/1990	29/01/1990	Letter Of Hypothecation And Lien	N/A	Meghraj Bank Limited
03/09/2010	15/06/1989	13/06/1989	Legal Charge	N/A	P K English Trust Company Limited

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

17/07/2009	Companies House Gazette	Change among directors of a company
16/12/2008	Companies House Gazette	Change among directors of a company
13/07/1987	Companies House Gazette	Change among directors of a company
20/05/1987	Companies House Gazette	Change in the situation of a company's registered office

Company Secretary

Secretary	RITA BHARATKUMAR SHETH
Service Address	UNIT 10 BARRATT INDUSTRIAL ESTATE, PARK AVENUE, SOUTHALL, MIDDLESEX, UB1 3AF.
Country of Origin	UNITED KINGDOM
Appointment Date	10/07/2009

Directors

Director	BHARATKUMAR CHANDULAL SHETH
Service Address	FIRST FLOOR KIRKLAND HOUSE, 11-15 PETERBOROUGH ROAD, HARROW, MIDDLESEX, HA1 2AX.
Country of Origin	UNITED KINGDOM
Date of Birth	04/05/1961
Appointment Date	31/12/1992
Other Directorships	BARDOST INVESTMENTS LLP, KENT INVESTMENTS (2010) LLP, MOUNTFORD CHEMISTS LIMITED, CUREWELL LIMITED

Share Capital

Shares	Ordinary GBP 1.00
Issued Number	100,000
Principal Shareholder	50,000 Bharatkumar Chandulal Sheth
	30,000 Rita Bharatkumar Sheth
	10,000 Chandulal Girjashanker Sheth
	10,000 Rama Chandulal Sheth

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

Financial Data– Statutory Accounts

Profit & Loss Accounts are not available for companies categorised as small companies under the companies act.

Balance Sheet

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	30/09/2010	30/09/2009	30/09/2008	30/09/2007
Currency	GBP	GBP	GBP	GBP
TOTAL FIXED ASSETS	1018	730	708	732
Tangible Assets	1018	730	708	732
TOTAL CURRENT ASSETS	644	798	1190	937
Trade debtors	268	206	770	518
Stocks	326	193	418	409
Other Current Assets	50	399	2	10
Cash	50	399	2	10
TOTAL ASSETS	1662	1528	1898	1669
TOTAL CURRENT LIABILITIES	149	344	690	262
Trade creditors	149	344	690
Other Liabilities				262
WORKING CAPITAL	495	454	500	675
TOTAL LONG TERM LIABS	529	477	519	612
NET ASSETS/(LIABILITIES)	984	707	689	795
SHARE CAPITAL + RESERVES	984	707	689	795
Share Cap + Sundry Res	100	100	100	100
Revaluation Reserves	277
Profit and Loss account	607	607	589	695
SHAREHOLDERS FUNDS	984	707	689	795
CAPITAL EMPLOYED	1513	1184	1208	1407

Financial Comparison

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	30/09/2010	30/09/2009	30/09/2008	30/09/2007
Currency	GBP	GBP	GBP	GBP
Liquid Assets	318	605	772	528
Net Working Capital	495	454	500	675
Other Deferred Liabs	529	477	519	612
Tangible Net Worth(T.N.W)	984	707	689	795
Equity	984	707	689	795
Number of Years Trading	23	22	21	20

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	30/09/2010	30/09/2009	30/09/2008	30/09/2007
Current Ratio	4.3	2.3	1.7	3.6
Quick Ratio	2.1	1.8	1.1	2
T.N.W/Total Assets%	59.2	46.3	36.3	47.6
Equity Gearing%	145.1	86.1	57	91

Key Industry Sector Trends

Year	2011	2010	2009	2008
Sample Size	5037	11117	11111	11243
Pre-Tax Profit Margin	3	2.3	1	1
Current Ratio	1.7	1.6	1.7	1.6
Borrowing Ratio	45	43.4	53.5	58.9
Return on Capital	22.6	22.6	23	27.2
Creditors Days	72	168	123	101

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Wholesale of household goods

Financial Summary

Auditors Qualification

The company has taken advantage of exemptions under the Companies Act such that the accounts have not been audited or examined.

No Turnover

The company's balance sheet total is less than GBP 5,600,000 and is a medium sized company as defined by the Companies Act. It is not required to disclose turnover but it is likely to be in the range of GBP 2,800,000 - GBP 11,200,000.

Working Capital

The subject's working capital has improved by 41,000 in the period.

Net Worth

Net worth has increased by 39 % and now stands at GBP 984,000.

Fixed Assets

The subject's fixed assets increased during the year by GBP 288,000 to GBP 1,018,000 and are now 61 % of total assets compared with 47 % in the previous year.

Long Term Liabilities

The company's long term liabilities increased during the period by 10% and are now 54 % of net worth compared with 67 % in the previous period.

Long Term Liabilities

Long term liabilities are now 32 % of total liabilities compared with 31 % in the previous period.

Long Term Liabilities

Long term liabilities are 35 % of capital employed, a decrease of 5 % over the previous period.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.35
UK Pound	1	Rs.78.68
Euro	1	Rs.65.63

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.