Company name and address

Business Description

Industry

Key Executives

Financial Summary

Registered No.(UK)

Corporate Overview

Directors and Shareholders Report

MIRA INFORM REPORT

Report Date :

02.10.2012

IDENTIFICATION DETAILS

Name :	LAKELAND LABORATORIES LTD.

Registered Office :	Peel Lane, Tyldesley, Manchester, M29 7FE, Greater Manchester County

Country :	United Kingdom

Financials (as on) :	31.12.2011

Date of Incorporation :	26.11.1993

Com. Reg. No.:	02875769

Legal Form :	Private Subsidiary

Line of Business :	Manufacture of other organic basic chemicals

No. of Employees :	25

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

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 – June 30^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

United Kingdom

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

UNITED KINGDOM - ECONOMIC OVERVIEW

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Sharply declining home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these include nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aims to lower London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 23% by 2015. The Bank of England (BoE) implemented an asset purchase program of up to £325 billion (approximately $525 billion) as of February 2011. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU).

Source : CIA

Lakeland Laboratories Ltd.

Peel Lane

Tyldesley
Manchester, M29 7FE
United Kingdom
Tel:	01942873555
Fax:	01942884409

www.lakeland-labs.co.uk

Employees:	25
Company Type:	Private Subsidiary
Corporate Family:	3 Companies
Ultimate Parent:	Lakeland Chemicals Ltd.

Quoted Status:	Non-quoted Company
Incorporation Date:	26-Nov-1993
Auditor:	Leavitt Walmsley Associates Ltd.

Fiscal Year End:	31-Dec-2011
Reporting Currency:	British Pound Sterling
Annual Sales:	NA
Total Assets:	3.4

Formed in 1963, Lakeland Laboratories Ltd. develops imidazolines, wax emulsions, amphoterics and phosphate esters. It offers dipropionates used for manufacturing lubricants, agricultural chemicals, detergents and vehicle cleaning products. The company undertakes the production of corrosion-resistant and biodegradable monopropionates. It also offers chemicals used for several water treatment and finishing applications. In addition, the company provides a range of products used in the production of papers and paints. Its chemicals are used for facade protection and its client base includes textiles and agriculture industries. Its production facilities are equipped with reactors and blenders.

Industry	Chemical Manufacturing
ANZSIC 2006:	1812 - Basic Organic Chemical Manufacturing
NACE 2002:	2414 - Manufacture of other organic basic chemicals
NAICS 2002:	32519 - Other Basic Organic Chemical Manufacturing
UK SIC 2003:	2414 - Manufacture of other organic basic chemicals
UK SIC 2007:	2014 - Manufacture of other organic basic chemicals
US SIC 1987:	2869 - Industrial Organic Chemicals, Not Elsewhere Classified

Name	Title
Philip Evan Clark	Managing Director
Colin Paul Mallard	Finance Director
Paul Mccormack	Sales Director
Barbara Thomson	Purchasing Manager
John Melvin Thomson	Works Director

FYE: 31-Dec-2011

USD (mil)

Key Figures
Current Assets	3.11
Fixed Assets	0.28
Total Liabilities	1.55
Net Worth	1.83

Key Ratios
Current Ratio	2.00
Acid Test	1.47

02875769

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.623776

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6434593

Location
Peel Lane
Tyldesley
Manchester, M29 7FE
Greater Manchester County
United Kingdom

Tel:	01942873555
Fax:	01942884409

www.lakeland-labs.co.uk

Sales GBP(mil):	NA
Assets GBP(mil):	2.2
Employees:	25
Fiscal Year End:	31-Dec-2011



Industry:	Chemical Manufacturing

Registered Address:
Peel Lane
Astley Green
Tyldesley
Manchester, M29 7FE
United Kingdom

Incorporation Date:	26-Nov-1993
Company Type:	Private Subsidiary
Quoted Status:	Not Quoted
Registered No.(UK):	02875769


Managing Director:	Philip Evan Clark

Industry Codes

ANZSIC 2006 Codes:
1812	-	Basic Organic Chemical Manufacturing

NACE 2002 Codes:
2414	-	Manufacture of other organic basic chemicals

NAICS 2002 Codes:
32519	-	Other Basic Organic Chemical Manufacturing

US SIC 1987:
2869	-	Industrial Organic Chemicals, Not Elsewhere Classified

UK SIC 2003:
2414	-	Manufacture of other organic basic chemicals

UK SIC 2007:
2014	-	Manufacture of other organic basic chemicals

Business Description

More Business Descriptions

Chemicals and Allied Products

Top

Financial Data

Financials in:	GBP(mil)

Assets:	2.2
Current Assets:	2.0
Fixed Assets:	0.2
Long Term Debt:	0.0
Total Liabilities:	1.0
Issued Capital:	0.2
Working Capital:	1.0
Net Worth:	1.2

Date of Financial Data:	31-Dec-2011

1 Year Growth

Top

Key Corporate Relationships

Auditor:	Leavitt Walmsley Associates Ltd.

Auditor:	Leavitt Walmsley Associates Ltd.

Top



Corporate Family	Corporate Structure News:
	Lakeland Chemicals Ltd. Lakeland Laboratories Ltd.
Lakeland Laboratories Ltd. Total Corporate Family Members: 3

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees
Lakeland Chemicals Ltd.	Parent	Manchester	United Kingdom	Business Services
Lakeland Laboratories Ltd.	Subsidiary	Manchester	United Kingdom	Chemical Manufacturing		25
Custom Chemicals Ltd.	Subsidiary	Manchester	United Kingdom	Nonclassifiable Industries

Lakeland Laboratories Ltd.

Manchester, , United Kingdom, Tel: 01942873555, URL: http://www.lakeland-labs.co.uk

Executives Report

Executives

Name

Title

Function

Philip Evan Clark

Managing Director

Age: 60

Colin Paul Mallard

Finance Director

Finance Executive

Age: 58

Paul Mccormack

Sales Director

Sales Executive

Age: 45

John Melvin Thomson

Works Director

Manufacturing Executive

Age: 54

Barbara Thomson

Purchasing Manager

Purchasing Executive

Individual Shareholders

There are no individual shareholders for this company.

Main Office Address:
Peel Lane
Manchester
United Kingdom M29 7FE

Tel: 01942873555
Fax: 01942884409
URL: http://www.lakeland-labs.co.uk

Annual Return Date: 26 Nov 2011
Total Issued Capital (GBP 000): 194

Individual Directors

Name	Status	DOB	Filed Address	Appointment Date	Resignation Date	Summary of Directorships
Philip Evan Clark	Current	10 Dec 1951	24 Skipton Avenue, Chadderton, Oldham, Greater Manchester OL9 0QA	24 Jan 1994	NA	Current:5 Previous:1 Disqualifications:0
John Melvin Thomson	Current	20 Dec 1957	16 Gregory Avenue, Atherton, Manchester, Greater Manchester M46 9NX	09 May 2002	NA	Current:3 Previous:0 Disqualifications:0
Paul Mccormack	Current	29 Jul 1967	11 Rock Road, Urmston, Manchester, Greater Manchester M41 9WD	09 May 2002	NA	Current:3 Previous:0 Disqualifications:0
Colin Paul Mallard	Current	08 Nov 1953	9 Mill Close, Houghton Green, Warrington, Cheshire WA2 0ST	23 Sep 1998	NA	Current:7 Previous:0 Disqualifications:0
Paul Middleton	Previous	04 Dec 1951	12 Barleycorn Close, Sale, Cheshire M33 2NP	24 Jan 1994	25 May 2001	Current:0 Previous:1 Disqualifications:0
Anthony Keith Waterhouse	Previous	03 Jul 1939	Springmead Wetherby Road, Rigton Hill Bardsey, Leeds, West Yorkshire LS17 9BR	24 Jan 1994	18 Dec 2003	Current:0 Previous:7 Disqualifications:0
John Peter Hess	Previous	17 May 1934	Chorlton Hall, Chorlton By Backford, Chester, Cheshire CH2 4BJ	24 Jan 1994	18 Dec 2003	Current:0 Previous:3 Disqualifications:0
Colin Prince	Previous	06 Dec 1933	25 Wynmore Avenue, Bramhope, Leeds, West Yorkshire LS16 9DD	24 Jan 1994	18 Dec 2003	Current:0 Previous:4 Disqualifications:0

Corporate Directors

There are no corporate directors for this company.

Individual Secretaries

Name	Status	DOB	Filed Address	Appointment Date	Resignation Date	Summary of Directorships
Colin Paul Mallard	Current	08 Nov 1953	9 Mill Close, Houghton Green, Warrington, Cheshire WA2 0ST	24 Jan 1994	NA	Current:7 Previous:0 Disqualifications:0

Corporate Secretaries

There are no corporate secretaries for this company.

Corporate Shareholders

Company Name	Registration Number	Share Details (As Reported)	Share Type	# of Shares	Share Price (GBP)	Share Value (GBP)	% of Total Shares
Lakeland Chemicals Ltd	03178821	194000 Ordinary GBP 1.00	Ordinary	194,000	1.00	194,000.00	100.00

News: 0 Matches

Articles: 0 Matches

Lakeland Laboratories Ltd.

Manchester, United Kingdom, Tel: 01942873555, URL: http://www.lakeland-labs.co.uk

Annual Profit & Loss

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate (Period Average)	0.623776	0.647573	0.641508	0.545576	0.499878
Consolidated	No	No	No	No	No

Depreciation	0.1	0.1	0.1	0.1	0.2

Annual Balance Sheet

Financials in: USD (mil)

Financial Glossary

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate	0.643459	0.638712	0.619253	0.695531	0.502361
Consolidated	No	No	No	No	No

Total Tangible Fixed Assets	0.1	0.1	0.2	0.2	0.4
Intangible Assets	0.0	0.0	0.0	0.0	0.0
Investments	0.2	0.2	0.2	0.2	0.2
Total Fixed Assets	0.3	0.3	0.4	0.4	0.7
Total Stocks Work In Progress	0.8	0.8	0.7	0.7	0.9
Director Loans	-	0.0	-	-	-
Other Debtors	-	2.3	-	-	2.5
Total Debtors	2.1	2.4	2.0	1.7	2.5
Cash and Equivalents	0.1	0.6	0.5	0.5	0.5
Other Current Assets	0.0	0.0	0.0	0.0	0.0
Total Current Assets	3.1	3.8	3.2	2.9	3.9
Total Assets	3.4	4.1	3.6	3.4	4.5
Other Current Liabilities	1.6	2.0	1.5	1.4	2.0
Total Current Liabilities	1.6	2.0	1.5	1.4	2.0
Group Loans (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Director Loans (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Hire Purchase (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Leasing (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Total Hire Purchase Loans (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Other Long Term Loans	0.0	0.0	0.0	0.0	0.0
Accruals/Deferred Income (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Other Long Term Liabilities	0.0	0.0	0.0	0.0	0.0
Total Long Term Liabilities	0.0	0.0	0.0	0.0	0.0
Other Provisions	0.0	0.0	0.0	0.0	0.0
Total Provisions	0.0	0.0	0.0	0.0	0.0
Issued Capital	0.3	0.3	0.3	0.3	0.4
Share Premium Accounts	0.0	0.0	0.0	0.0	0.0
Revaluation Reserve	0.0	0.0	0.0	0.0	0.0
Retained Earnings	1.5	1.8	1.8	1.6	2.1
Other Reserves	0.0	0.0	0.0	0.0	0.0
Minority Interests (Balance Sheet)	0.0	0.0	0.0	0.0	0.0
Total Shareholders Funds	1.8	2.1	2.1	1.9	2.5
Net Worth	1.8	2.1	2.1	1.9	2.5

Annual Cash Flows

Financials in: USD (mil)

Financial Glossary

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate (Period Average)	0.623776	0.647573	0.641508	0.545576	0.499878
Consolidated	No	No	No	No	No

Annual Ratios

Financials in: USD (mil)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate	0.643459	0.638712	0.619253	0.695531	0.502361
Consolidated	No	No	No	No	No

Current Ratio	2.00	1.92	2.14	2.10	1.97
Liquidity Ratio	1.47	1.51	1.67	1.57	1.50
Equity Gearing	54.15%	51.96%	58.18%	57.50%	55.71%

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.78
UK Pound	1	Rs.85.16
Euro	1	Rs.67.78

INFORMATION DETAILS

Report Prepared by :

PDT

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.