MIRA INFORM REPORT

Report Date :

02.12.2013

IDENTIFICATION DETAILS

Name :	UKRAINIAN-ENGLISH JOINT VENTURE WITH FOREIGN INVESTMENT SOLOMIYA, LLC
Registered Office :	143/2 Chervonoarmiyska str., Kiev, 03150
Country :	Ukraine
Financials (as on) :	31.12.2012
Date of Incorporation :	09.04.1998
Com. Reg. No.:	25586053
Legal Form :	Limited Liability Company by Ukrainian Law
Line of Business :	· Production of mineral waters and soft drinks · Processing of tea and coffee · Wholesale of food, beverages and tobacco · Wholesale of coffee, tea, cocoa and spices
No. of Employees :	100

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	--

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

UKRAINE - ECONOMIC OVERVIEW

After Russia, the Ukrainian republic was the most important economic component of the former Soviet Union, producing about four times the output of the next-ranking republic. Its fertile black soil generated more than one-fourth of Soviet agricultural output, and its farms provided substantial quantities of meat, milk, grain, and vegetables to other republics. Likewise, its diversified heavy industry supplied the unique equipment (for example, large diameter pipes) and raw materials to industrial and mining sites (vertical drilling apparatus) in other regions of the former USSR. Shortly after independence in August 1991, the Ukrainian Government liberalized most prices and erected a legal framework for privatization, but widespread resistance to reform within the government and the legislature soon stalled reform efforts and led to some backtracking. Output by 1999 had fallen to less than 40% of the 1991 level. Ukraine's dependence on Russia for energy supplies and the lack of significant structural reform have made the Ukrainian economy vulnerable to external shocks. Ukraine depends on imports to meet about three-fourths of its annual oil and natural gas requirements and 100% of its nuclear fuel needs. After a two-week dispute that saw gas supplies cutoff to Europe, Ukraine agreed to 10-year gas supply and transit contracts with Russia in January 2009 that brought gas prices to "world" levels. The strict terms of the contracts have further hobbled Ukraine's cash-strapped state gas company, Naftohaz. Outside institutions - particularly the IMF - have encouraged Ukraine to quicken the pace and scope of reforms to foster economic growth. Ukrainian Government officials eliminated most tax and customs privileges in a March 2005 budget law, bringing more economic activity out of Ukraine's large shadow economy, but more improvements are needed, including fighting corruption, developing capital markets, and improving the legislative framework. Ukraine's economy was buoyant despite political turmoil between the prime minister and president until mid-2008. Real GDP growth exceeded 7% in 2006-07, fueled by high global prices for steel - Ukraine's top export - and by strong domestic consumption, spurred by rising pensions and wages. A drop in steel prices and Ukraine's exposure to the global financial crisis due to aggressive foreign borrowing lowered growth in 2008. Ukraine reached an agreement with the IMF for a $16.4 billion Stand-By Arrangement in November 2008 to deal with the economic crisis, but the program quickly stalled due to the Ukrainian Government's lack of progress in implementing reforms. The economy contracted nearly 15% in 2009, among the worst economic performances in the world. In April 2010, Ukraine negotiated a price discount on Russian gas imports in exchange for extending Russia's lease on its naval base in Crimea. In August 2010, Ukraine, under the YANUKOVYCH Administration, reached a new agreement with the IMF for a $15.1 billion Stand-By Agreement. Economic growth resumed in 2010 and 2011, buoyed by exports. After initial disbursements, the IMF program stalled in early 2011 due to the Ukrainian Government's lack of progress in implementing key gas sector reforms, namely gas tariff increases. Economic growth slowed in the second half of 2012 with Ukraine finishing the year in technical recession following two consecutive quarters of negative growth.

Source : CIA

Identification

Full Name

:

Tovarystvo z obmezhenoyu vidpovidalnistyu SP z inozemnymy investytsiyamy Ukrainsko-Angliyske SOLOMIYA

Name in English

:

UKRAINIAN-ENGLISH JOINT VENTURE WITH FOREIGN INVESTMENT SOLOMIYA, LLC

Name in national language

:

Товариство з обмеженою відповідальністю СП з іноземними інвестиціями Украінсько-Англійске СОЛОМІЯ

Trading Names, Brands

:

-	Arden, Batik, Askold, Domashniy tea
	All trading names: Arden, Batik, Askold, Domashniy tea, VivaTalia!, Suzirya, Dobra Kava, S la Zlakov, Kashka-Minutka, NA Zdorovye, Super Hruper.

Office Address

:

6A Berkovetska str., Kiev, 04128, Ukraine

Legal Address

:

143/2 Chervonoarmiyska str., Kiev, 03150, Ukraine

Russian transliteration: 143/2 Krasnoarmeyskaya str.

Other Addresses

:

Previous legal address

8 Mechnikova str., apt.22, Kiev, 01023, Ukraine

( the data cancelled since 03.09.2010 )

Contacts

:

-	Phone	:	(+38 044) 4540332
-	Phone/fax	:	(+38 044) 4540333, 4540330
-	E-mail	:	office@solomija.com.ua
-	WWW	:	www.solomija.com.ua

SUMMARY

Legal Form : TOV (Limited Liability Company by Ukrainian Law)

Incorporation : 1998

Staff : 100

Litigation events : n/a Remarks on payments : Slow but correct

Sales :	205 600.00 th UAH ( for 12 months, ended 31.12.2012 )
	145 534.00 th UAH ( for 12 months, ended 31.12.2011 )

Incorporation

:

1998

Registration Data

Date of registration

:

09.04.1998

Registration number

:

25586053

Registr. authority

:

Local Administration (Kiev, Ukraine)

Number of the Certificate of State Registration: 301742 Series of the Certificate: A01

VAT number

:

255860526101

Registr. place

:

Ukraine

Number of VAT-certificate: 100310274 Certificate date: 21.11.2010

Legal Form

:

TOV (Limited Liability Company by Ukrainian Law)

since 15.02.2000

Share Capital

:

46 523 974 UAH (registered)

since 28.09.2010

Shareholders

:

-	Convery Investment Limited (United Kingdom)				97.72 %
		share's book value	:	45 463 974 UAH
-	Mrs Gotska Zhanna Vasilyevna (Ukraine)				2.27 %
		share's book value	:	1 056 500 UAH
-	Asset management company Real Capital Management, LLC(Ukraine)				0.01 %
		share's book value	:	3 500 UAH
		reg. number	:	34001384

Board / Executives

Executives
Director	:	Mrs Datsenko Yanina Petrovna (Ukraine)
Director	:	Mrs Goncharenko Elena Nikolaevna (Ukraine)
		( the data cancelled since 09.08.2013 )
Director	:	Mr Gotskiy Nikolay Nikolaevich (Ukraine)
		( the data cancelled since 07.05.2008 )
Director	:	Mr Harytonchuk Vasiliy Panasovich (Ukraine)
		( the data cancelled since 15.02.2000 )
Director	:	Mr Druchenko Grigoriy Andreevich (Ukraine)
		( the data cancelled since 30.06.1998 )
Authorised signature	:	Mrs Datsenko Yanina Petrovna
		Mrs Goncharenko Elena Nikolaevna
		( the data cancelled since 09.08.2013 )
		Mr Gotskiy Nikolay Nikolaevich
		( the data cancelled since 07.05.2008 )
		Mr Harytonchuk Vasiliy Panasovich
		( the data cancelled since 15.02.2000 )
		Mr Druchenko Grigoriy Andreevich
		( the data cancelled since 30.06.1998 )
Changes in Registration Data
- 09.08.2013	:	managers, authorised signature
- 28.09.2010	:	legal address, share capital
- 03.09.2010	:	legal address
- 07.05.2008	:	share capital, managers, authorised signature
- 20.09.2004	:	share capital
- 14.01.2004	:	share capital
- 20.02.2001	:	share capital
- 28.09.2000	:	share capital
- 16.05.2000	:	share capital
- 15.02.2000	:	legal form, legal address, share capital, managers, authorised signature
- 30.06.1998	:	share capital

Activities

-	2086	Tea/Fruit Drinks (Can/Bottle)
		(NACE 1598: Production of mineral waters and soft drinks)
-	2095	Roasted Coffee
		(NACE 1586: Processing of tea and coffee)
-	514	Groceries and Related Products
		(NACE 5130: Wholesale of food, beverages and tobacco)
-	5149	Coffee & Tea
		(NACE 5137: Wholesale of coffee, tea, cocoa and spices)

Company manufactures and distributes its own products and attracting products of grocery group of the following product categories: tea, coffee, cereals, pasta, cereal noodles, canned, vegetable oil, snacks, drinks. Source: http://en.solomija.com.ua/about/company/

Staff employed

100 [E]

Staff History

-	100 [E]
	( the data as of 17.06.2013 )
-	150 [E]
	( the data as of 04.04.2013 )
-	157
	( the data as of 31.12.2012 )
-	100 [E]
	( the data as of 11.05.2011 )
-	100 [E]
	( the data as of 21.09.2010 )
-	100 [E]
	( the data as of 20.07.2010 )
-	79
	official data
	( the data as of 31.03.2010 )
-	79
	( the data as of 31.12.2009 )
-	n/a
	( the data as of 20.08.2009 )
-	Official data:
	83
	( the data as of 31.12.2007 )
-	Ofrficial data:
	82
	( the data as of 01.01.2007 )

Export

- 01.12.2012

:

Fiscal period: 11 month(s), currency: UAH

1 718 632.00

Russian Federation, Belarus

- 01.05.2011

:

Fiscal period: 4 month(s), currency: UAH

417 590.00

Lithuania, Russian Federation

- 01.01.2011

:

Fiscal period: 12 month(s), currency: UAH

266 428.00

Lithuania

:

none

Import

- 01.04.2013

:

Fiscal period: 3 month(s), currency: UAH

30 782 323.00

Netherlands, Indonesia, Sri Lanka, Vietnam, China Peoples Republic

- 01.12.2012

:

Fiscal period: 11 month(s), currency: UAH

75 554 437.00

China, Sri Lanka, Indonesia, Netherlands, Vietnam

- 01.05.2011

:

Fiscal period: 4 month(s), currency: UAH

21 845 925.00

China, Sri Lanka, Indonesia, Germany, Kenya

- 01.01.2011

:

Fiscal period: 12 month(s), currency: UAH	54 562 633.00
China, Netherlands, Sri Lanka, Italy, Vietnam

Facilities

Real estate

:

unknown ownership:
-	Premises - Office
	address	:	6A Berkovetska str., Kiev, 04128, Ukraine

Branches

none

Subsidiaries and Participation

-	Arden TD, LLC (Ukraine)				share n/a
		reg. number	:	34240626
		address	:	8 Mechnikova str., apt.22, Kiev, 01001, Ukraine
-	Healthy Food Factory, LLC (TOV Kombinat zdorovogo harchuvannya) (Ukraine)				share n/a
		reg. number	:	36403251
-	Tavr, LLC (Ukraine)				share n/a
		reg. number	:	31494384
		address	:	3 Sviridova str., Vesele settlement, Kherson region, Beryslavskiy district, 74344, Ukraine

Bankers

Hreschatyk (Ukraine)
address	:	Kiev, Ukraine
bank code	:	300670
account(s)	:	26006001002533 UAH, USD, EUR
Marfinbank (Ukraine)
bank code	:	328168
account(s)	:	26006419931 UAH

Suppliers

Drukkerij Zwart B. V. (Netherlands)

HUNAN TEA COMPANY LIMITED (China Peoples Republic)

KHANH HOA CO.,LTD (Vietnam)

PT.Pacific Agritama Comoditi (Indonesia)

RAINDROP TEAS (PVT) LTD (Sri Lanka)

Litigation

According to the data of Bulletin of the State Registration as of 26.11.2013, there are no bankruptcy registered in the name of the subject company.

Generally in the DB of the Unified State Register of the Legal Judgements data there have been traced 5 court where the subject company is filed as a co-defendant and defendant in the period from 05.03.2010 up to 14.10.2013. There are no bankruptcy/insolvency records filed. These litigation processes arise in the course of company's usual operation.

Remarks on payment

No official information is available according to the Ukrainian legislation.

Financial Elements

:

The company is registered as a taxpayer at the State Tax Administration.

Period, months	12	12	12
Ended	31.12.2012	31.12.2011	31.12.2010
Currency	UAH th	UAH th	UAH th
===== BALANCE SHEET ====================
--- A S S E T S --------------------
NON-CURRENT ASSETS
- Intangible assets		12 587.00
- Fixed assets		12 051.00	12 591.00
- Investments in tangible assets
- Financial assets		3 691.00	3 691.00
- Other non-current assets		0.00
Non-current assets total	34 376.00	28 329.00	29 665.00
CURRENT ASSETS
- Stock		27 690.00	17 210.00
- Debtors	46 546.00	45 896.00	41 438.00
- Other receivables		10 038.00
- Short-term financial investments	25 236.00	19 222.00
- Cash	722.00	375.00	274.00
- Other current assets	8.00	118.00
Current assets total	111 594.00	103 339.00	87 507.00
Assets total	145 970.00	131 668.00	117 172.00
--- EQUITY AND LIABILITIES ---------
CAPITAL AND RESERVES
- Share capital	46 524.00	46 524.00	46 524.00
- Additional capital	0.00	0.00
- Other capital	0.00	0.00
- Reserve capital		0.00
- Retained earnings (Non-covered loss)		3 480.00
Capital and reserves total	53 637.00	50 004.00	50 613.00
Provisions	0.00	0.00
LONG-TERM LIABILITIES
- Loans and credits	0.00	0.00
- long-term amounts owed to banks	0.00	0.00
- Other long-term liabilities		46 543.00
Long-term liabilities total	58 377.00	46 543.00	22 687.00
SHORT-TERM LIABILITIES
- Loans and credits	11 000.00	10 859.00
- short-term amounts owed to banks	11 000.00	10 859.00
- Creditors		21 969.00
- trade debts		21 375.00
- accrued payroll		354.00
- tax liabilities		240.00
- other creditors
- advances received		0.00
- Dividends in arrears
- Accrued income, deferred charges	0.00	0.00
- Other short-term liabilities		2 293.00
Short-term liabilities total	33 956.00	35 121.00	43 872.00
Liabilities total	92 333.00	81 664.00	66 559.00
Equity and liabilities total	145 970.00	131 668.00	117 172.00
===== PROFIT AND LOSS ACCOUNT ==========
ORDINARY ACTIVITY INCOME AND CHARGES
Net sales	205 600.00	145 534.00	122 662.00
Cost of goods sold	126 979.00	110 681.00	79 216.00
Gross profit		34 853.00
Distribution costs		18 626.00
Administrative and management costs		4 024.00
Profit on sales
OPERATING INCOME AND CHARGES
Interest receivable
Interest payable
Income from participating interests		0.00
Other operating income	145.00	10 030.00
Other operating charges		11 313.00
Operating profit			8 395.00
INVESTMENT INCOME AND CHARGES
Investment income less charges	-18 624.00	-11 634.00
Profit before taxation		-714.00	5 368.00
Income-tax and other similar payments	185.00	260.00
Profit (loss) from ordinary activity
Extraordinary income less charges		0.00
Net profit	3 716.00	-974.00	5 181.00
- - - - - - - KEY RATIOS - - - - - - -
Return on sales, %		-0.49	4.38
Profit before taxation / Net sales
Operating margin of profit, %			6.84
Operating profit / Net sales
Return on investment, %		-1.43	10.61
Profit before taxation / Equity
Current assets turnover	1.84	1.41	1.40
Net sales / Current assets
Working capital	77 638.00	68 218.00	43 635.00
Current assets - Short-term liabilities
Leverage	0.37	0.38	0.43
Equity / Total assets
Current ratio	3.29	2.94	1.99
Current assets / Short-term liabilities
Quick ratio		2.15	1.60
(Current assets - Stock) / Short-term liabilities
Debt-to-equity ratio	1.72	1.63	1.32
Total liabilities / Equity

FINAL COMMENTS

The information given in this report was collected from all the sources accessible. We contacted Mrs Viktoriya (office-manager) on 26.11.2013 by the tel. number: +38 044 4540332. She confirmed the general information and asked us to send a questionnaire. An inquiry was sent for the attention of the Director but no answer was received. If the additional information comes in we will update the subject report.

Legal Form History

- 09.04.1998	:	PP (Private Company by Ukrainian Law)
		( the data as of 09.04.1998, cancelled since 15.02.2000 )

Capital History

- 07.05.2008	:	40 000 000 UAH (registered)
		( the data as of 21.09.2010, cancelled since 28.09.2010 )
- 23.05.2005	:	12 708 821 UAH (registered)
		( the data as of 23.05.2005, cancelled since 07.05.2008 )
- 14.01.2004	:	7 381 420 UAH (registered)
		( the data as of 14.01.2004, cancelled since 23.05.2005 )
- 20.02.2001	:	2 336 409 UAH (registered)
		( the data as of 20.02.2001, cancelled since 14.01.2004 )
- 28.09.2000	:	706 209 UAH (registered)
		( the data as of 28.09.2000, cancelled since 20.02.2001 )
- 16.05.2000	:	708 660 UAH (registered)
		( the data as of 16.05.2000, cancelled since 28.09.2000 )
- 15.02.2000	:	451 925 UAH (registered)
		( the data as of 15.02.2000, cancelled since 16.05.2000 )
- 30.06.1998	:	60 000 UAH (registered)
		( the data as of 30.06.1998, cancelled since 15.02.2000 )
- 09.04.1998	:	1 000 UAH (registered)
		( the data as of 09.04.1998, cancelled since 30.06.1998 )

Financial Statements

Period, months	12	12	12
Ended	31.12.2012	31.12.2011	31.12.2010
Currency	UAH th	UAH th	UAH th
PROFIT AND LOSS ACCOUNT (s)
010 Sales revenue (Income from sales of goods, work,	205 600.00
services
015 VAT tax
020 Excise tax
025
030 Other compulsory payments
035 Net sales revenue	172 196.00
040 Cost of goods, work, services	126 979.00
045 Total production costs
050 Gross profit
055 Gross loss
060 Other operating income	145.00
070 Administrative and management costs
080 Distribution costs
090 Other operating charges
100 Operating profit	15 919.00
105 Operating loss	0.00
110 Income from capital participating
120 Other financial income
130 Other income
140 Financial charges	18 624.00
150 Capital participating expenses
160 Other expenses
170 Profit from ordinary activity before taxation
175 Loss from ordinary activity before taxation
180 Ordinary activity Income-tax	185.00
190 Profit from ordinary activity
195 Loss from ordinary activity
200 Extraordinary income
205 Extraordinary charges
210 Extraordinary activity Income-Tax	0.00
220 Net profit	3 716.00
225 Net loss	0.00
Operating charges details:
230 Tangible expenses	108 684.00
240 Payroll costs	5 317.00
250 Allocation to social needs
260 Amortization charges	1 923.00
270 Other operating charges
280 Operating charges total	142 875.00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
BALANCE SHEET
ASSETS
I. NON-CURRENT ASSETS
Intangible assets
010 residual value
011 acquisition cost
012 depreciation
020 Construction in progress
Fixed assets
030 residual value
031 acquisition cost
032 depreciation
Long-term biological assets
035 residual value
036 acquisition cost
037 depreciation
Long-term financial assets
040 Capital participation in other enterprises
045 Other financial investments
050 Long-term accounts receivable
060 Deferred tax assets
070 Other non-current assets
080 NON-CURRENT ASSETS TOTAL	34 376.00
II. CURRENT ASSETS
Stock
100 Raw materials, consumables and supplies
110 Current biological assets
120 Work in progress
130 Finished goods
140 Goods for resale
150 Bills of exchange receivable	0.00
Trade debtors:
160 net realizable value	46 546.00
161 acquisition cost
162 doubtful debts reserve
Accounts receivable
170 Budget accounts receivable
180 Payments in advance
190 Accrued income
200 Internal payments
210 Other current accounts receivable
220 Current financial investments	25 236.00
Cash at bank and on hands
230 Funds in local currency	722.00
231 incl. cash on hands
240 Funds in foreign currencies	0.00
250 Other current assets
260 CURRENT ASSETS TOTAL	111 586.00
270 III. DEFERRED CHARGES	8.00
280 ASSETS TOTAL	145 970.00
EQUITY AND LIABILITIES
I. CAPITAL AND RESERVES
300 Authorized capital	46 524.00
310 Share capital	0.00
320 Additional contributed capital	0.00
330 Other additional capital	0.00
340 Reserve capital
350 Retained earnings (loss)
360 Unpaid capital (minus)	0.00
370 Retired capital (minus)	0.00
380 CAPITAL AND RESERVES TOTAL	53 637.00
II. PROVISIONS OF EXPENSES AND
LIABILITIES
400 Provisions of payments to personnel
410 Other provisions
415 Insurance reserves
416 portion covered by insurers
417
418
420 Targeted funding
430 PROVISIONS OF EXPENSES AND	0.00
LIABILITIES TOTAL
III. LONG-TERM LIABILITIES
440 Long-term amounts owed to credit institutions	0.00
450 Other financial liabilities
460 Deferred tax liabilities
470 Other long-term liabilities
480 TOTAL LONG-TERM LIABILITIES	58 377.00
IV. SHORT-TERM LIABILITIES
500 Short-term amounts owed to credit institutions	11 000.00
510 Short-term portion of long-term liabilities
520 Bills of exchange payable
530 Trade creditors
Accounts payable:
540 Advance payments
550 Budget accounts payable
560 Non-budget accounts payable
570 Insurance payments
580 Accrued payroll
590 Liabilities to shareholders
600 Internal payments
610 Other short-term liabilities
620 SHORT-TERM LIABILITIES TOTAL	33 956.00
630 V. DEFERRED INCOME	0.00
640 EQUITY AND LIABILITIES TOTAL	145 970.00

- 31.12.2011

:

Fiscal period: 12 month(s), currency: UAH, th
PROFIT AND LOSS ACCOUNT (s)
010 Sales revenue (Income from sales of goods, work,	182 938.00
services
015 VAT tax	29 901.00
020 Excise tax	0.00
025	0.00
030 Other compulsory payments	7 503.00
035 Net sales revenue	145 534.00
040 Cost of goods, work, services	110 681.00
045 Total production costs
050 Gross profit	34 853.00
055 Gross loss	0.00
060 Other operating income	845.00
070 Administrative and management costs	4 024.00
080 Distribution costs	18 626.00
090 Other operating charges	2 164.00
100 Operating profit	10 884.00
105 Operating loss	0.00
110 Income from capital participating	0.00
120 Other financial income	0.00
130 Other income	9 185.00
140 Financial charges	11 634.00
150 Capital participating expenses	0.00
160 Other expenses	9 149.00
170 Profit from ordinary activity before taxation	0.00
175 Loss from ordinary activity before taxation	714.00
180 Ordinary activity Income-tax	260.00
190 Profit from ordinary activity	0.00
195 Loss from ordinary activity	974.00
200 Extraordinary income	0.00
205 Extraordinary charges	0.00
210 Extraordinary activity Income-Tax	0.00
220 Net profit	0.00
225 Net loss	974.00
Operating charges details:
230 Tangible expenses	109 097.00
240 Payroll costs	4 302.00
250 Allocation to social needs	1 584.00
260 Amortization charges	2 202.00
270 Other operating charges	18 397.00
280 Operating charges total	135 582.00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
BALANCE SHEET
ASSETS
I. NON-CURRENT ASSETS
Intangible assets
010 residual value	12 587.00
011 acquisition cost	18 115.00
012 depreciation	5 528.00
020 Construction in progress	333.00
Fixed assets
030 residual value	11 718.00
031 acquisition cost	23 981.00
032 depreciation	12 263.00
Long-term biological assets
035 residual value
036 acquisition cost
037 depreciation
Long-term financial assets
040 Capital participation in other enterprises	100.00
045 Other financial investments	3 591.00
050 Long-term accounts receivable	0.00
060 Deferred tax assets	0.00
070 Other non-current assets	0.00
080 NON-CURRENT ASSETS TOTAL	28 329.00
II. CURRENT ASSETS
Stock
100 Raw materials, consumables and supplies	19 935.00
110 Current biological assets	0.00
120 Work in progress	0.00
130 Finished goods	7 489.00
140 Goods for resale	266.00
150 Bills of exchange receivable	0.00
Trade debtors:
160 net realizable value	43 957.00
161 acquisition cost	44 207.00
162 doubtful debts reserve	250.00
Accounts receivable
170 Budget accounts receivable	7 061.00
180 Payments in advance	1 939.00
190 Accrued income	0.00
200 Internal payments	0.00
210 Other current accounts receivable	2 977.00
220 Current financial investments	19 222.00
Cash at bank and on hands
230 Funds in local currency	318.00
231 incl. cash on hands
240 Funds in foreign currencies	57.00
250 Other current assets	118.00
260 CURRENT ASSETS TOTAL	103 339.00
270 III. DEFERRED CHARGES	0.00
280 ASSETS TOTAL	131 668.00
EQUITY AND LIABILITIES
I. CAPITAL AND RESERVES
300 Authorized capital	46 524.00
310 Share capital	0.00
320 Additional contributed capital	0.00
330 Other additional capital	0.00
340 Reserve capital	0.00
350 Retained earnings (loss)	3 480.00
360 Unpaid capital (minus)	0.00
370 Retired capital (minus)	0.00
380 CAPITAL AND RESERVES TOTAL	50 004.00
II. PROVISIONS OF EXPENSES AND
LIABILITIES
400 Provisions of payments to personnel	0.00
410 Other provisions	0.00
415 Insurance reserves	0.00
416 portion covered by insurers	0.00
417
418
420 Targeted funding	0.00
430 PROVISIONS OF EXPENSES AND	0.00
LIABILITIES TOTAL
III. LONG-TERM LIABILITIES
440 Long-term amounts owed to credit institutions	0.00
450 Other financial liabilities	0.00
460 Deferred tax liabilities	0.00
470 Other long-term liabilities	46 543.00
480 TOTAL LONG-TERM LIABILITIES	46 543.00
IV. SHORT-TERM LIABILITIES
500 Short-term amounts owed to credit institutions	10 859.00
510 Short-term portion of long-term liabilities	0.00
520 Bills of exchange payable	0.00
530 Trade creditors	21 375.00
Accounts payable:
540 Advance payments	0.00
550 Budget accounts payable	64.00
560 Non-budget accounts payable	0.00
570 Insurance payments	176.00
580 Accrued payroll	354.00
590 Liabilities to shareholders	0.00
600 Internal payments	0.00
610 Other short-term liabilities	2 293.00
620 SHORT-TERM LIABILITIES TOTAL	35 121.00
630 V. DEFERRED INCOME	0.00
640 EQUITY AND LIABILITIES TOTAL	131 668.00

- 31.12.2010

:

Fiscal period: 12 month(s), currency: UAH, th
PROFIT AND LOSS ACCOUNT (s)
010 Sales revenue (Income from sales of goods, work,	122 662.00
services
015 VAT tax	20 399.00
020 Excise tax	0.00
025
030 Other compulsory payments	535.00
035 Net sales revenue	101 728.00
040 Cost of goods, work, services	79 216.00
050 Gross profit	22 512.00
055 Gross loss	0.00
060 Other operating income	285.00
070 Administrative and management costs	3 310.00
080 Distribution costs	10 061.00
090 Other operating charges	1 031.00
100 Operating profit	8 395.00
105 Operating loss	0.00
110 Income from capital participating	0.00
120 Other financial income	0.00
130 Other income	7 279.00
140 Financial charges	5 705.00
150 Capital participating expenses	0.00
160 Other expenses	4 601.00
170 Profit from ordinary activity before taxation	5 368.00
175 Loss from ordinary activity before taxation	0.00
180 Ordinary activity Income-tax	187.00
190 Profit from ordinary activity	5 181.00
195 Loss from ordinary activity	0.00
200 Extraordinary income	0.00
205 Extraordinary charges	0.00
210 Extraordinary activity Income-Tax	0.00
220 Net profit	5 181.00
225 Net loss	0.00
Operating charges details:
230 Tangible expenses	76 515.00
240 Payroll costs	1 936.00
250 Allocation to social needs	708.00
260 Amortization charges	2 208.00
270 Other operating charges	11 096.00
280 Operating charges total	92 463.00
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
BALANCE SHEET
ASSETS
I. NON-CURRENT ASSETS
Intangible assets
010 residual value	13 383.00
011 acquisition cost	17 887.00
012 depreciation	4 504.00
020 Construction in progress	315.00
Fixed assets
030 residual assets	12 276.00
031 acquisition cost	23 373.00
032 depreciation	11 097.00
Long-term financial assets
040 Capital participation in other enterprises	100.00
045 Other financial investments	3 591.00
050 Long-term accounts receivable	0.00
060 Deferred tax charges	0.00
070 Other non-current assets	0.00
080 NON-CURRENT ASSETS TOTAL	29 665.00
II. CURRENT ASSETS
Stock
100 Raw materials, consumables and supplies	11 323.00
110 Working and productive animals	0.00
120 Construction in progress	3 204.00
130 Finished goods	2 645.00
140 Goods for resale	38.00
150 Bills of exchange receivable	0.00
Trade debtors:
160 net realizable value	31 182.00
161 acquisition cost	31 182.00
162 doubtful debts reserve	0.00
Accounts receivable
170 Budget accounts receivable	4 624.00
180 Payments in advance	3 288.00
190 Accrued income	0.00
200 Internal payments	0.00
210 Other current accounts receivable	2 344.00
220 Current financial investments	0.00
Cash at bank and in hand
230 Funds in local currency	274.00
240 Funds in foreign currencies	0.00
250 Other current assets	28 585.00
260 CURRENT ASSETS TOTAL	87 507.00
270 III. DEFERRED CHARGES	0.00
280 ASSETS TOTAL	117 172.00
EQUITY AND LIABILITIES
I. CAPITAL AND RESERVES
300 Authorized capital	46 524.00
310 Share capital	0.00
320 Additional contributed capital	0.00
330 Other additional capital	0.00
340 Reserve capital	0.00
350 Retained earnings (loss)	4 089.00
360 Unpaid capital (minus)	0.00
370 Retired capital (minus)	0.00
380 CAPITAL AND RESERVES TOTAL	50 613.00
II. PROVISIONS FOR EXPENSES AND
LIABILITIES
400 Provisions for payments to personnel	0.00
410 Other provisions	0.00
415 Insurance reserves	0.00
416 portion covered by insurers	0.00
420 Special-purpose funding	0.00
430 PROVISIONS FOR EXPENSES AND	0.00
LIABILITIES TOTAL
III. LONG-TERM LIABILITIES
440 Long-term amounts owed to credit institutions	0.00
450 Other financial liabilities	0.00
460 Deferred tax liabilities	0.00
470 Other long-term liabilities	22 687.00
480 TOTAL LONG-TERM LIABILITIES	22 687.00
IV. SHORT-TERM LIABILITIES
500 Short-term amounts owed to credit institutions	6 960.00
510 Short-term portion of long-term liabilities	0.00
520 Bills of exchange payable	353.00
530 Trade creditors	16 250.00
Accounts payable:
540 Advance payments	0.00
550 Budget accounts payable	66.00
560 Non-budget accounts payable	0.00
570 Insurance payments	0.00
580 Accrued payroll	0.00
590 Liabilities to shareholders	0.00
600 Internal payments	0.00
610 Other short-term liabilities	20 243.00
620 SHORT-TERM LIABILITIES TOTAL	43 872.00
630 V. DEFERRED INCOME	0.00
640 EQUITY AND LIABILITIES TOTAL	117 172.00

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.39
UK Pound	1	Rs.102.06
Euro	1	Rs.84.98

INFORMATION DETAILS

Report Prepared by :

NNA

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.