MIRA INFORM REPORT

Report Date :

12.04.2013

IDENTIFICATION DETAILS

Name :	MCGREGOR BALFOUR (TEXTILES) LIMITED
Registered Office :	37 Fairfield Road, Broughty Ferry, Dundee Angus DD5 1PL
Country :	United Kingdom
Financials (as on) :	31.07.2012
Date of Incorporation :	21.06.2004
Com. Reg. No.:	SC269581
Legal Form :	Private limited with Share Capital
Line of Business :	Retail Sale of Textiles In Specialised Stores
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
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 (31.03.2011)	Current Rating (30.06.2012)
United Kingdom	A1	A1

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

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

REGISTERED NAME & COMPANY SUMMARY

Summary – Company Information

Company Name	MCGREGOR BALFOUR (TEXTILES) LIMITED	Company Number	SC269581
Registered Address	37 FAIRFIELD ROAD, BROUGHTY	Trading Address	37 Fairfield Road Broughty Ferry Dundee Angus DD5 1PL
	FERRY, DUNDEE
	ANGUS
	DD5 1PL
Website Address	http://www.mcgregorbalfour.com
Telephone Number	01382732767	Fax Number
TPS	Yes	FPS	No
Incorporation Date	21/06/2004	Company Status	Active - Accounts Filed
Previous Name		Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	20/12/2012
		Share Capital	£101
SIC03	5241	Currency	GBP
SIC03 Description	RETAIL SALE OF TEXTILES
SIC07	47510
SIC07 Description	RETAIL SALE OF TEXTILES IN SPECIALISED STORES
Principal Activity	Retail sale of textiles.

DIRECTORS/MANAGEMENT

Directors

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

Current Directors

Name	Anne Alexandra Thomson	Date of Birth	24/10/1953
Officers Title	Mrs	Nationality	British
Present Appointments	8	Function	Director
Appointment Date	21/06/2004
Address	37 Fairfield Road, Broughty Ferry, Dundee, DD5 1PL
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	Fiona Winifred McIntosh	Date of Birth	05/05/1966
Officers Title	Ms	Nationality	British
Present Appointments	3	Function	Company Secretary
Appointment Date	15/10/2007
Address	Invergrange, Grange Road, Monifieth, Angus, DD5 4PT

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	2
Satisfied	0

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MRS ANNE ALEXANDRA THOMSON	GBP	88	ORDINARY	1	87.13
MRS ANNE ALEXANDRA THOMSON	GBP	12	ORDINARY A	1	11.88
MRS ANNE ALEXANDRA THOMSON	GBP	1	REDEEMABLE PREFERENCE	1	0.99

PAYMENT INFORMATION

Summary – Payment History

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/07/2012	-	-	-£242,709	-
31/07/2011	-	-	-£232,621	-
31/07/2010	-	-	-£215,628	-

Payment Information Summary

Days Beyond Terms

Trend Indicator

N/A	10
Company DBT	UK Average DBT

Steady

Improving Worsening

GROUP STRUCTURE & AFFILIATED COMPANIES

Group Structure

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Group structure

No group structure

FINANCIAL INFORMATION

Financials

Profit & Loss

Date Of Accounts	31/07/12	(%)	31/07/11	(%)	31/07/10	(%)	31/07/09	(%)	31/07/08
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	-	-	-	-	-	-	-	-	-
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages & Salaries	-	-	-	-	-	-	-	-	-
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	-	-	-	-	-	-	-	-	-
Depreciation	-	-	-	-100%	£612	-7.4%	£661	-23.4%	£863
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/07/12	(%)	31/07/11	(%)	31/07/10	(%)	31/07/09	(%)	31/07/08
Tangible Assets	0	-	0	-100%	£2,447	-20%	£3,059	-17.8%	£3,720
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	0	-	0	-100%	£2,447	-20%	£3,059	-17.8%	£3,720
Stock	£2,861	-2.6%	£2,936	-86.6%	£21,866	-30.7%	£31,562	-16.4%	£37,773
Trade Debtors	£7,860	-69.8%	£26,009	341.3%	£5,894	-39.4%	£9,720	-7.3%	£10,482
Cash	£3,482	999.9%	£250	-43.9%	£446	22.2%	£365	-59.9%	£910
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£14,203	-51.4%	£29,195	3.5%	£28,206	-32.3%	£41,647	-15.3%	£49,165
Trade Creditors	£9,012	-71.7%	£31,868	36.6%	£23,324	-34.4%	£35,540	-20.1%	£44,467
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	0	-	0	-	0	-	0	-	0
Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	0
Total Current Liabilities	£9,012	-71.7%	£31,868	36.6%	£23,324	-34.4%	£35,540	-20.1%	£44,467
Bank Loans & Overdrafts and LTL	£247,900	7.8%	£229,948	3.1%	£222,957	9.7%	£203,272	14.7%	£177,167
Other Long Term Finance	0	-	0	-	0	-	0	-100%	£126,270
Total Long Term Liabilities	£247,900	7.8%	£229,948	3.1%	£222,957	9.7%	£203,272	14.7%	£177,167

CAPITAL & RESERVES

Date Of Accounts	31/07/12	(%)	31/07/11	(%)	31/07/10	(%)	31/07/09	(%)	31/07/08
Called Up Share Capital	£140	-	£140	-	£140	-	£140	-	£140
P & L Account Reserve	-£267,814	-3.9%	-£257,726	-7.1%	-£240,733	-9.8%	-£219,211	-13.1%	-£193,854
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£24,965	-	£24,965	-	£24,965	-	£24,965	-	£24,965
Shareholder Funds	-£242,709	-4.3%	-£232,621	-7.9%	-£215,628	-11.1%	-£194,106	-15%	-£168,749

Other Financial Items

Date Of Accounts	31/07/12	(%)	31/07/11	(%)	31/07/10	(%)	31/07/09	(%)	31/07/08
Net Worth	-£242,709	-4.3%	-£232,621	-7.9%	-£215,628	-11.1%	-£194,106	-15%	-£168,749
Working Capital	£5,191	294.2%	-£2,673	-154.8%	£4,882	-20.1%	£6,107	30%	£4,698
Total Assets	£14,203	-51.4%	£29,195	-4.8%	£30,653	-31.4%	£44,706	-15.5%	£52,885
Total Liabilities	£256,912	-1.9%	£261,816	6.3%	£246,281	3.1%	£238,812	7.8%	£221,634
Net Assets	-£242,709	-4.3%	-£232,621	-7.9%	-£215,628	-11.1%	-£194,106	-15%	-£168,749

Cash Flow

Date Of Accounts	31/07/12	(%)	31/07/11	(%)	31/07/10	(%)	31/07/09	(%)	31/07/08
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	31/07/12	(%)	31/07/11	(%)	31/07/10	(%)	31/07/09	(%)	31/07/08
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£5,191	294.2%	-£2,673	-136.5%	£7,329	-20%	£9,166	8.9%	£8,418
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers
Bank Branch Code

Ratios

Date Of Accounts	31/07/12	31/07/11	31/07/10	31/07/09	31/07/08
Pre-tax profit margin %	-	-	-	-	-
Current ratio	1.58	0.92	1.21	1.17	1.11
Sales/Net Working Capital	-	-	-	-	-
Gearing %	-102.10	-98.90	-103.40	-104.70	-105
Equity in %	-1708.90	-796.80	-703.40	-434.20	-319.10
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	1.25	0.82	0.27	0.28	0.25
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	-0.03	-0.13	-0.10	-0.18	-0.26
Total Debt Ratio	-1.05	-1.12	-1.14	-1.23	-1.31
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Commentary

No exact match CCJs are recorded against the company.
There is insufficient data to indicate a change in this companies percentage of sales.
Net Worth decreased by 4.3% during the latest trading period.
A 51.4% decline in Total Assets occurred during the latest trading period.
There is insufficient data to indicate a change in this companies pre-tax profit.
The company saw an increase in their Cash Balance of 999.9% during the latest trading period.
The company is exempt from audit.
No recent changes in directorship are recorded.
The company is not part of a group.
The movement in accumulated earnings would indicate that the company incurred a loss after tax and other appropriations, including dividends.
The company was established over 8 years ago.

Status History

No Status History found

Event History

Date	Description
28/12/2012	New Accounts Filed
06/07/2012	Annual Returns
05/10/2011	New Accounts Filed
02/07/2011	Annual Returns
30/03/2011	New Accounts Filed
26/06/2010	Annual Returns
19/04/2010	New Accounts Filed
07/08/2009	Annual Returns
18/11/2008	New Accounts Filed
29/10/2008	New Company Secretary Ms F.W. McIntosh appointed
29/07/2008	Annual Returns
10/03/2008	New Accounts Filed
23/10/2007	ANNE BAIRD has resigned as company secretary
23/10/2007	New Company Secretary (FIONA MCINTOSH) appointed
20/07/2007	Annual Returns

Previous Company Names

No Previous Names found

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.53
UK Pound	1	Rs.83.59
Euro	1	Rs.71.33

INFORMATION DETAILS

Report Prepared by :

PRL

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.