MIRA INFORM REPORT

Report Date :

30.01.2013

IDENTIFICATION DETAILS

Name :	HYFAME UK LIMITED
Registered Office :	Unit 2 Johal Building 461 St Saviours Road Leicester LE5 4HU
Country :	United Kingdom
Financials (as on) :	31.12.2011
Date of Incorporation :	03.12.2007
Com. Reg. No.:	06443363
Legal Form :	Private limited with Share Capital
Line of Business :	Wholesale of Textiles
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 and delayed
Litigation :	--

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

Company name and address

Top of Form

Company Name	HYFAME UK LIMITED	Company Number	06443363
Registered Address	UNIT 2 JOHAL BUILDING	Trading Address	Unit 2 Johal Building 461 St. Saviours Road Leicester Leicestershire LE5 4HU
	461 ST SAVIOURS ROAD
	LEICESTER
	LE5 4HU
Website Address	-
Telephone Number	07830324234	Fax Number
TPS	No	FPS	No
Incorporation Date	03/12/2007	Company Status	Active - Accounts Filed
Previous Name		Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	30/09/2012
		Share Capital	£100
SIC03	5141	Currency	GBP
SIC03 Description	WHOLESALE OF TEXTILES
SIC07	46410
SIC07 Description	WHOLESALE OF TEXTILES
Principal Activity

Accounts Due Date 30/09/2013

Commentary

CCJ recorded against the company.
The company's credit rating has increased from 4 to 9 but they still fall into a discretionary Credit banding.
There is insufficient data to indicate a change in this companies percentage of sales.
Net Worth decreased by 52.2% during the latest trading period.
A 25.1% 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 26% 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 negative change in the P&L Account Reserve suggests that the company made a loss after tax and other appropriations.
The company has changed its registered address recently.
The company was established over 5 years ago.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/12/2011	-	-	-£90,417	-
31/12/2010	-	-	-£59,390	-
31/12/2009	-	-	-£40,566	-

Payment Information Summary

Days Beyond Terms

Trend Indicator

N/A	10
Company DBT	UK Average DBT

Steady

Improving Worsening

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade Debtors / Bad Debt -	2
Total Value of Documented Trade Debtors / Bad Debt -	£72,160

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 -	1	Total Value of Satisfied CCJs -	£897
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	2

Current Directors

Name	Mustaq Ahmed Talati	Date of Birth	30/07/1967
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	03/12/2007
Address	50 Crown Hills Avenue, Leicester, Leicestershire, LE5 4HE
Other Actions	View Director Report	View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	Mohammed Faiz Talati	Date of Birth	-
Officers Title	Mr	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	01/01/2011
Address	50 Crown Hills Avenue, Leicester, LE5 4HE
Other Actions		View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Top 20 Shareholders

Name	Individual Share Value
MUSTAK AHMED TALATI	100 ORDINARY GBP 1.00

Profit & Loss

	Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	-
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	-
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	-
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	-
	Turnover	-	-	-	-	-	-	-	-	-
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	-	-	-	-	-	-	-	-	-
	Gross Profit	-	-	-	-	-	-	-	-	-
	Wages & Salaries	-	-	-	-	-	-	-	-	-
	Directors Emoluments	-	-	-	-	-	-	-	-	-
	Operating Profit	-	-	-	-	-	-	-	-	-
	Depreciation	£1,383	-16.6%	£1,658	-20.6%	£2,088	70.2%	£1,227	-	-
	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	(%)	31/12/09	(%)	31/12/08	(%)	-
	Tangible Assets	£5,210	-21%	£6,593	-12%	£7,493	-17.6%	£9,097	-	-
	Intangible Assets	0	-	0	-	0	-	0	-	-
	Total Fixed Assets	£5,210	-21%	£6,593	-12%	£7,493	-17.6%	£9,097	-	-
	Stock	£198,645	214.1%	£63,247	-3.1%	£65,248	-17%	£78,642	-	-
	Trade Debtors	£123,010	-66.5%	£367,413	79.1%	£205,107	363.5%	£44,256	-	-
	Cash	£1,574	26%	£1,249	-83.6%	£7,636	-73.8%	£29,179	-	-
	Other Debtors	0	-	0	-	0	-	0	-	-
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	-
	Total Current Assets	£323,229	-25.2%	£431,909	55.4%	£277,991	82.8%	£152,077	-	-
	Trade Creditors	£418,856	-15.9%	£497,892	52.7%	£326,050	130.9%	£141,218	-	-
	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	-
	Other Short Term Finance	0	-	0	-	0	-	0	-	-
	Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	-
	Total Current Liabilities	£418,856	-15.9%	£497,892	52.7%	£326,050	130.9%	£141,218	-	-
	Bank Loans & Overdrafts and LTL	0	-	0	-	0	-100%	£826	-	-
	Other Long Term Finance	0	-	0	-	0	-	0	-	-
	Total Long Term Liabilities	0	-	0	-	0	-100%	£826	-	-

Capital & Reserves

	Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	-
	Called Up Share Capital	£100	-	£100	-	£100	-	£100	-	-
	P & L Account Reserve	-£90,517	-52.2%	-£59,490	-46.3%	-£40,666	-313.7%	£19,030	-	-
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	-£90,417	-52.2%	-£59,390	-46.4%	-£40,566	-312.1%	£19,130	-	-

Other Financial Items

	Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	-
	Net Worth	-£90,417	-52.2%	-£59,390	-46.4%	-£40,566	-312.1%	£19,130	-	-
	Working Capital	-£95,627	-44.9%	-£65,983	-37.3%	-£48,059	-542.6%	£10,859	-	-
	Total Assets	£328,439	-25.1%	£438,502	53.6%	£285,484	77.1%	£161,174	-	-
	Total Liabilities	£418,856	-15.9%	£497,892	52.7%	£326,050	129.5%	£142,044	-	-
	Net Assets	-£90,417	-52.2%	-£59,390	-46.4%	-£40,566	-312.1%	£19,130	-	-

Miscellaneous

	Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	-
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	-
	Capital Employed	-£90,417	-52.2%	-£59,390	-46.4%	-£40,566	-303.3%	£19,956	-	-
	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	31/12/09	31/12/08	-
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	0.77	0.87	0.85	1.08	-
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	0	0	0	4.30	-
	Equity in %	-27.50	-13.50	-14.20	11.90	-
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	0.29	0.74	0.65	0.52	-
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	-4.63	-8.38	-8.03	7.38	-
	Total Debt Ratio	-4.63	-8.38	-8.03	7.42	-
	Stock Turnover Ratio %	-	-	-	-	-
	Return on Net Assets Employed %	-	-	-	-	-

Status History

No Status History found

Event History

Date	Description
25/12/2012	Annual Returns
04/10/2012	New Accounts Filed
06/01/2012	New Accounts Filed
19/12/2011	Annual Returns
18/02/2011	Change in Reg.Office
18/02/2011	Change of Company Postcode
18/02/2011	Mr M.H. Hingora has resigned as company secretary
18/02/2011	New Company Secretary Mr M.F. Talati appointed
07/01/2011	Change in Reg.Office
07/01/2011	Change of Company Postcode
04/01/2011	Annual Returns
08/11/2010	New Accounts Filed
07/01/2010	Annual Returns
07/09/2009	New Accounts Filed
21/05/2009	Change in Reg.Office

Previous Company Names

No Previous Names found

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Group structure

No group structure

Exact CCJ Details

Date	Court	Amount	Status	Case Number	Date Paid
14/06/2012	NORTHAMPTON CCBC	£897	Satisfied	2QG62426	23/07/2012

Possible CCJs Details

There are no possible CCJ details

Writ Details

No writs found

Mortgage Details

Trade Debtors / Bad Debt Detail

Company Name	Amount	Statement Date
Chicago Clothing Limited	£71,371	26/11/2009
Wyngates Limited	£789	18/02/2010
Total Value	£72,160

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Yusuf Nabibhai Hassanbhai Surtee	0	2
Mahamad Hanif Hingora	0	1

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.70
UK Pound	1	Rs.84.35
Euro	1	Rs.72.21

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%)

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.