MIRA INFORM REPORT

Report Date :

11.02.2013

IDENTIFICATION DETAILS

Name :	ORN CLOTHING COMPANY LIMITED

Formerly Known As :	ORN CLOTHING COMPANY

Registered Office :	Unit 4 Beaumont Close Banbury Oxfordshire Ox16 1tr

Country :	United Kingdom

Financials (as on) :	31.12.2011

Date of Incorporation :	14.05.2010

Com. Reg. No.:	07254574

Legal Form :	Private limited with Share Capital

Line of Business :	Retail Sale of Clothing

No. of Employees :	Not Available

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

Company Name

ORN CLOTHING COMPANY LIMITED

Company No

07254574

Registered Address

UNIT 4 BEAUMONT CLOSE

BANBURY

OXFORDSHIRE

OX16 1TR

Company Name	ORN CLOTHING COMPANY LIMITED	Company Number	07254574
Registered Address	UNIT 4 BEAUMONT CLOSE	Trading Address	Unit 4 Mallorie House Beaumont Road Banbury Oxfordshire OX16 1RH
	BANBURY
	OXFORDSHIRE
	OX16 1TR

Website Address	-
Telephone Number	-	Fax Number
TPS	-	FPS	No
Incorporation Date	14/05/2010	Company Status	Active - Accounts Filed
Previous Name	ORN CLOTHING COMPANY	Type	Private limited with Share Capital
Date of Change	08/10/2012	Filing Date of Accounts	22/09/2012
		Share Capital	£100
SIC03	5242	Currency	GBP
SIC03 Description	RETAIL SALE OF CLOTHING
SIC07	47710
SIC07 Description	RETAIL SALE OF CLOTHING IN SPECIALISED STORES
Principal Activity

Commentary

No exact match CCJs are recorded against the company.
The company's credit rating has increased from 42 to 51 which indicates good creditworthiness.
The credit limit on this company has risen 78.6% in comparison to the previously suggested credit limit.
Net Worth increased by 883.6% during the latest trading period.
A 6.9% growth in Total Assets occurred during the latest trading period.
The company saw a decrease in their Cash Balance of 72.3% 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 positive change in the P&L Account Reserve suggests that the company made a profit after tax and other appropriations.
The company has changed its registered name recently.
The company was established over 2 years ago.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/12/2011	-	-	£98,148	-
31/12/2010	-	-	£7,261	-

Payment Information Summary

Days Beyond Terms

Trend Indicator

Average Payment Experience

22	10
Company DBT	UK Average DBT

Steady

Improving Worsening

Within Terms 91+ Days

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	0
Satisfied	0

Total Current Directors	1
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	0

Current Directors

Name	Ivor Tunley	Date of Birth	05/04/1980
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	14/05/2010
Address	Unit 4 Beaumont Close, Banbury, Oxfordshire, OX16 1TR

Current Company Secretary

Name	Cameron Tunley	Date of Birth	-
Officers Title	Mr	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	14/05/2010
Address	Unit 4 Beaumont Close, Banbury, Oxfordshire, OX16 1TR

Top 20 Shareholders

Name	Currency	Share Value	Share Type	Nominal Value	% of Total Share Count
IVOR TUNLEY	GBP	100	ORDINARY	1	100

Profit & Loss

Date Of Accounts	31/12/11	31/12/10	-	-	-
Weeks	52	33	-	-	-
Currency	GBP	GBP	-	-	-
Consolidated A/cs	N	N	-	-	-
Turnover	-	-	-	-	-
Export	-	-	-	-	-
Cost of Sales	-	-	-	-	-
Gross Profit	-	-	-	-	-
Wages & Salaries	-	-	-	-	-
Directors Emoluments	-	-	-	-	-
Operating Profit	-	-	-	-	-
Depreciation	£20,305	£5,320	-	-	-
Audit Fees	-	-	-	-	-
Interest Payments	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-
Taxation	-	-	-	-	-
Profit After Tax	-	-	-	-	-
Dividends Payable	-	-	-	-	-
Retained Profit	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/12/11	31/12/10	-	-	-
Tangible Assets	£72,816	£43,482	-	-	-
Intangible Assets	£14,000	£18,000	-	-	-
Total Fixed Assets	£86,816	£61,482	-	-	-
Stock	£676,349	£672,661	-	-	-
Trade Debtors	£420,272	£369,304	-	-	-
Cash	£1,378	£4,970	-	-	-
Other Debtors	0	0	-	-	-
Miscellaneous Current Assets	0	0	-	-	-
Total Current Assets	£1,097,999	£1,046,935	-	-	-
Trade Creditors	£255,822	£183,067	-	-	-
Bank Loans & Overdrafts	0	0	-	-	-
Other Short Term Finance	0	0	-	-	-
Miscellaneous Current Liabilities	0	0	-	-	-
Total Current Liabilities	£255,822	£183,067	-	-	-
Bank Loans & Overdrafts and LTL	£830,845	£918,089	-	-	-
Other Long Term Finance	0	0	0	-	-
Total Long Term Liabilities	£830,845	£918,089	-	-	-

Capital & Reserves

Date Of Accounts	31/12/11	31/12/10	-	-	-
Called Up Share Capital	£100	£100	-	-	-
P & L Account Reserve	£98,048	£7,161	-	-	-
Revaluation Reserve	-	-	-	-	-
Sundry Reserves	-	-	-	-	-
Shareholder Funds	£98,148	£7,261	-	-	-

Other Financial Items

Date Of Accounts	31/12/11	31/12/10	-	-	-
Net Worth	£84,148	-£10,739	-	-	-
Working Capital	£842,177	£863,868	-	-	-
Total Assets	£1,184,815	£1,108,417	-	-	-
Total Liabilities	£1,086,667	£1,101,156	-	-	-
Net Assets	£98,148	£7,261	-	-	-

Cash Flow

Date Of Accounts	31/12/11	31/12/10	-	-	-
Net Cashflow from Operations	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-
Increase in Cash	-	-	-	-	-

Miscellaneous

Date Of Accounts	31/12/11	31/12/10	-	-	-
	Contingent Liability	NO	NO	-	-	-
Capital Employed	£928,993	£925,350	-	-	-
Number of Employees	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers
Bank Branch Code

Ratios

Date Of Accounts	31/12/11	31/12/10	-	-	-
Pre-tax profit margin %	-	-	-	-	-
Current ratio	4.29	5.72	-	-	-
Sales/Net Working Capital	-	-	-	-	-
Gearing %	846.50	12644.10	-	-	-
Equity in %	8.40	0.70	-	-	-
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	1.64	2.04	-	-	-
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	2.60	25.21	-	-	-
Total Debt Ratio	11.07	151.65	-	-	-
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

Status History

No Status History found

Event History

Date	Description
10/10/2012	Change of Name
02/10/2012	New Accounts Filed
25/05/2012	Annual Returns
15/07/2011	Annual Returns
12/05/2011	New Accounts Filed
23/08/2010	Change in Reg.Office
23/08/2010	Change of Company Postcode
18/05/2010	New Board Member Mr I. Tunley appointed
18/05/2010	New Company Secretary Mr C. Tunley appointed

Previous Company Names

Date	Previous Name
08/10/2012	ORN CLOTHING COMPANY

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group structure

No group structure

Statistics

Group	0 companies
Linkages	0 companies
Countries	In 0 countries

Exact CCJ Details

No CCJs found

Possible CCJs Details

There are no possible CCJ details

Writ Details

No writs found

Mortgage Details

Creditor Details

No Creditor Data
Total Value	-

Trade Debtors / Bad Debt Detail

	No Debtor Data
Total Value		-

Previous Director/Company Secretaries

No Previous Director Details

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.57
UK Pound	1	Rs.84.25
Euro	1	Rs.71.78

INFORMATION DETAILS

Report Prepared by :

SDA

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.