MIRA INFORM REPORT

Report Date :

23.04.2013

IDENTIFICATION DETAILS

Name :	MIXING SOLUTIONS LIMITED
Formerly Known As :	FINLAW 369 LIMITED
Registered Office :	179 Great Portland Street London W1W 5LW
Country :	United Kingdom
Financials (as on) :	31.12.2011
Date of Incorporation :	02.06.2002
Legal Form :	Private limited with Share Capital
Line of Business :	Other business support service activities. The design and manufacture of agitation equipment.
No. of Employees :	26

RATING & COMMENTS

MIRA’s Rating :

B

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 (31.03.2011)	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

Company Name	MIXING SOLUTIONS LIMITED	Company Number	04453452
Registered Address	179 GREAT PORTLAND STREET	Trading Address	Unit G Venture House Bone Lane Newbury, Berkshire RG14 5SH
	LONDON
	W1W 5LW
Website Address	http://www.mixingsolutions.com
Telephone Number	-	Fax Number
TPS	-	FPS	No
Incorporation Date	02/06/2002	Company Status	Active - Accounts Filed
Previous Name	FINLAW 369 LIMITED	Type	Private limited with Share Capital
Date of Change	23/07/2002	Filing Date of Accounts	04/07/2012
		Share Capital	£2
SIC03	7487	Currency	GBP
SIC03 Description	OTHER BUSINESS ACTIVITIES
SIC07	82990
SIC07 Description	OTHER BUSINESS SUPPORT SERVICE ACTIVITIES N.E.C.
Principal Activity	The design and manufacture of agitation equipment.

DIRECTORS/MANAGEMENT

Current Directors

Name	Candice Samantha Jackson	Date of Birth	03/08/1977
Officers Title	Ms	Nationality	South African
Present Appointments	1	Function	Director
Appointment Date	20/04/2010
Address	Unit J Venture House, Bone Lane, Newbury, RG14 5SH
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Thomas Ferdinand Paul May	Date of Birth	07/01/1938
Officers Title	Mr	Nationality	British
Present Appointments	13	Function	Director
Appointment Date	10/07/2002
Address	Lower Penn House, Hilmarton, Calne, SN11 8SA
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Timothy Dwyer	Date of Birth	24/01/1964
Officers Title	Mr	Nationality	American
Present Appointments	1	Function	Director
Appointment Date	04/01/2013
Address	Unit J Venture House Bone Lane, Newbury, RG14 5SH

Current Company Secretary

Name	FILEX SERVICES LIMITED	Date of Birth	-
Officers Title		Nationality	British
Present Appointments	104	Function	Company Secretary
Appointment Date	02/06/2002
Address	179 Great Portland Street, London, W1W 5LS

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.

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
THUNDER BASIN CORP.	GBP	2	ORDINARY	1	100

PAYMENT INFORMATION

Payment Information Summary

Days Beyond Terms

Trend Indicator

4	10
Company DBT	UK Average DBT

Steady

Improving Worsening

GROUP STRUCTURE & AFFILIATED COMPANIES

Holding Company	-
Ownership Status	Intermediately Owned
Ultimate Holding Company	AMERICAN MANUFACTURING CORP

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
AMERICAN MANUFACTURING CORP	N/A	-	-
THUNDER BASIN CORP		-	-	$88,000
MIXING SOLUTIONS LIMITED	04453452	31.12.2011	N	£5,874,404

FINANCIAL INFORMATION

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/12/2011	£5,874,404	£1,344,529	-£2,288,650	26
31/12/2010	£3,715,256	-£1,311,406	-£3,621,908	28
31/12/2009	£8,675,306	£408,743	-£2,316,973	38

Profit & Loss

Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£5,874,404	58.1%	£3,715,256	-57.2%	£8,675,306	-28.6%	£12,152,284	26.6%	£9,598,559
Export	£5,540,064	63.3%	£3,392,982	-59.2%	£8,317,818	-0.9%	£8,396,998	-2%	£8,568,138
Cost of Sales	£2,555,648	37%	£1,866,083	-65.6%	£5,429,676	-33.5%	£8,159,382	16.9%	£6,981,030
Gross Profit	£3,318,756	79.5%	£1,849,173	-43%	£3,245,630	-18.7%	£3,992,902	52.5%	£2,617,529
Wages & Salaries	£1,178,192	-5.2%	£1,242,273	281%	£326,043	-84.3%	£2,071,875	13.2%	£1,830,126
Directors Emoluments	£93,063	-42.4%	£161,526	-6.1%	£172,096	-33.4%	£258,492	28.2%	£201,643
Operating Profit	£1,595,079	284.8%	-£863,274	-355.8%	£337,461	-11.7%	£382,087	154%	-£707,290
Depreciation	£73,199	-56.5%	£168,128	-2.8%	£172,972	-3%	£178,360	70.4%	£104,642
Audit Fees	£26,289	3.1%	£25,500	4.1%	£24,500	0.9%	£24,280	21.4%	£20,000
Interest Payments	£287,269	-22.9%	£372,737	-7.7%	£403,701	37.3%	£294,124	81.7%	£161,894
Pre Tax Profit	£1,344,529	202.5%	-£1,311,406	-420.8%	£408,743	123.2%	-£1,760,608	-136.2%	-£745,273
Taxation	-£11,271	-274.2%	£6,471	209%	-£5,935	91.5%	-£70,000	-999.9%	£1,055
Profit After Tax	£1,333,258	202.2%	-£1,304,935	-424%	£402,808	122%	-£1,830,608	-146%	-£744,218
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	£1,333,258	202.2%	-£1,304,935	-424%	£402,808	122%	-£1,830,608	-146%	-£744,218

Balance Sheet

Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
Tangible Assets	£269,215	-10.4%	£300,525	-5.4%	£317,598	-30.2%	£454,855	-16.1%	£542,028
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£269,215	-10.4%	£300,525	-5.4%	£317,598	-30.2%	£454,855	-16.1%	£542,028
Stock	£1,723,027	106.7%	£833,698	-26.6%	£1,135,439	-62%	£2,989,889	154.2%	£1,176,308
Trade Debtors	£1,461,709	159.8%	£562,678	-81.4%	£3,023,999	-54.2%	£6,605,604	304%	£1,635,224
Cash	£1,075,520	6.5%	£1,009,858	381.2%	£209,883	-90.3%	£2,172,032	339.4%	£494,267
Other Debtors	£401,573	25.2%	£320,872	24.7%	£257,305	-69.7%	£849,451	122%	£382,634
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£4,661,829	70.9%	£2,727,106	-41.1%	£4,626,626	-63.3%	£12,616,976	242.1%	£3,688,433
Trade Creditors	£672,025	-7.9%	£729,745	-2.7%	£749,708	-74.4%	£2,928,133	128.1%	£1,283,498
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	£5,064,103	-1.1%	£5,118,101	-10.8%	£5,735,956	-50.6%	£11,610,182	239.7%	£3,418,178
Miscellaneous Current Liabilities	£1,357,333	99.8%	£679,387	20.4%	£564,359	-43.2%	£994,197	212.2%	£318,478
Total Current Liabilities	£7,093,461	8.7%	£6,527,233	-7.4%	£7,050,023	-54.6%	£15,532,512	209.4%	£5,020,154
Bank Loans & Overdrafts and LTL	£126,233	3.2%	£122,306	-42.1%	£211,174	-18.5%	£259,100	160.5%	£99,480
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£126,233	3.2%	£122,306	-42.1%	£211,174	-18.5%	£259,100	160.5%	£99,480

Capital & Reserves

Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
Called Up Share Capital	£2	-	£2	-	£2	-	£2	-	£2
P & L Account Reserve	-£2,418,145	35.5%	-£3,751,403	-53.3%	-£2,446,468	14.1%	-£2,849,276	-179.7%	-£1,018,668
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£129,493	-	£129,493	-	£129,493	-	£129,493	-	£129,493
Shareholder Funds	-£2,288,650	36.8%	-£3,621,908	-56.3%	-£2,316,973	14.8%	-£2,719,781	-205.9%	-£889,173

Other Financial Items

Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
Net Worth	-£2,288,650	36.8%	-£3,621,908	-56.3%	-£2,316,973	14.8%	-£2,719,781	-205.9%	-£889,173
Working Capital	-£2,431,632	36%	-£3,800,127	-56.8%	-£2,423,397	16.9%	-£2,915,536	-118.9%	-£1,331,721
Total Assets	£4,931,044	62.9%	£3,027,631	-38.8%	£4,944,224	-62.2%	£13,071,831	209%	£4,230,461
Total Liabilities	£7,219,694	8.6%	£6,649,539	-8.4%	£7,261,197	-54%	£15,791,612	208.5%	£5,119,634
Net Assets	-£2,288,650	36.8%	-£3,621,908	-56.3%	-£2,316,973	14.8%	-£2,719,781	-205.9%	-£889,173

Cash Flow

Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
Net Cashflow from Operations	£382,626	-80.9%	£2,003,086	-27.4%	£2,759,076	193.1%	-£2,962,432	-19.4%	-£2,480,699
Net Cashflow before Financing	£65,661	-95.7%	£1,513,188	-36.2%	£2,370,410	172.4%	-£3,272,233	-12.4%	-£2,912,139
Net Cashflow from Financing	-	100%	-£713,213	83.5%	-£4,332,559	-187.5%	£4,949,998	477.4%	£857,300
Increase in Cash	£65,661	-91.8%	£799,975	140.8%	-£1,962,149	-217%	£1,677,765	181.6%	-£2,054,839

Miscellaneous

Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	-£2,162,417	38.2%	-£3,499,602	-66.2%	-£2,105,799	14.4%	-£2,460,681	-211.6%	-£789,693
Number of Employees	26	-7.1%	28	-26.3%	38	-15.6%	45	4.7%	43
Auditors	PRICEWATERHOUSECOOPERS LLP
Auditor Comments	The audit report contains no adverse comments
Bankers
Bank Branch Code

Ratios

Date Of Accounts	31/12/11	31/12/10	31/12/09	31/12/08	31/12/07
Pre-tax profit margin %	22.89	-35.30	4.71	-14.49	-7.76
Current ratio	0.66	0.42	0.66	0.81	0.73
Sales/Net Working Capital	-2.42	-0.98	-3.58	-4.17	-7.21
Gearing %	-5.50	-3.40	-9.10	-9.50	-11.20
Equity in %	-46.40	-119.60	-46.90	-20.80	-21
Creditor Days	41.64	71.49	31.45	87.70	48.67
Debtor Days	90.57	55.12	126.88	197.85	62.01
Liquidity/Acid Test	0.41	0.29	0.49	0.61	0.50
Return On Capital Employed %	-62.17	37.47	-19.41	71.54	94.37
Return On Total Assets Employed %	27.26	-43.31	8.26	-13.46	-17.61
Current Debt Ratio	-3.09	-1.80	-3.04	-5.71	-5.64
Total Debt Ratio	-3.15	-1.83	-3.13	-5.80	-5.75
Stock Turnover Ratio %	29.33	22.43	13.08	24.60	12.25
Return on Net Assets Employed %	-58.74	36.20	-17.64	64.73	83.81

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Status History

No Status History found.

Event History

Date	Description
23/01/2013	L. Heck has left the board
23/01/2013	New Board Member Mr T. Dwyer appointed
13/07/2012	New Accounts Filed
13/07/2012	New Accounts Filed
23/06/2012	Annual Returns
19/04/2012	Change of Company Postcode
14/10/2011	New Accounts Filed
14/10/2011	New Accounts Filed
10/10/2011	Change of Company Postcode
05/07/2011	Annual Returns
16/12/2010	New Accounts Filed
24/07/2010	Annual Returns
12/05/2010	Mr J.R. Brace has left the board
12/05/2010	New Board Member Ms C.S. Jackson appointed
09/11/2009	New Accounts Filed

Previous Company Names

Date	Previous Name
23/07/2002	FINLAW 369 LIMITED

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.
Sales in the latest trading period increased 58.1% on the previous trading period.
Net Worth increased by 36.8% during the latest trading period.
A 62.9% growth in Total Assets occurred during the latest trading period.
Pre-tax profits increased by 202.5% compared to the previous trading period.
The company saw an increase in their Cash Balance of 6.5% during the latest trading period.
The audit report contains no adverse comments.
The company has undergone recent changes in its directorships.
The company is part of a group.
The company has changed its registered address recently.
The company was established over 10 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.16
UK Pound	1	Rs.82.45
Euro	1	Rs.70.70

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.