MIRA INFORM REPORT

Report Date :

01.06.2013

IDENTIFICATION DETAILS

Name :	UNIVERSAL COMPONENTS UK LIMITED
Formerly Known As :	UNIVERSAL COMPONENTS UK LIMITED
Registered Office :	8 Stevenson Way Sheffield South Yorkshire S9 3WZ
Country :	United Kingdom
Financials (as on) :	31.03.2012
Date of Incorporation :	07.07.2004
Com. Reg. No.:	05172752
Legal Form :	Private limited with Share Capital
Line of Business :	Wholesale Trade of Motor Vehicle Parts and Accessories
No. of Employees :	95

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 – March, 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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 second largest economy in Europe after Germany. 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 aimed 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 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of up to £375 billion (approximately $605 billion) as of December 2012. 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). In 2012, weak consumer spending and subdued business investment weighed on the economy. GDP fell 0.1%, and the budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued to increase.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Company Name	UNIVERSAL COMPONENTS UK LIMITED	Company Number	05172752
Registered Address	8 STEVENSON WAY	Trading Address	Unit 9 Guinness Road Trafford Park Manchester, Lancashire M17 1SD
	SHEFFIELD
	SOUTH YORKSHIRE
	S9 3WZ
Website Address	http://www.ucukltd.com
Telephone Number	01142611188	Fax Number
TPS	Yes	FPS	No
Incorporation Date	07/07/2004	Company Status	Active - Accounts Filed
Previous Name	UNIVERSAL COMPONENTS UK LIMITED	Type	Private limited with Share Capital
Date of Change	06/10/2009	Filing Date of Accounts	28/09/2012
		Share Capital	£50,000
SIC03	5030	Currency	GBP
SIC03 Description	Sale of motor vehicle parts.
SIC07	45310
SIC07 Description	Wholesale Trade of Motor Vehicle Parts and Accessories
Principal Activity	A group engaged in distribution of commercial vehicle parts.

DIRECTORS/MANAGEMENT

Total Current Directors	4
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	7

Current Directors

Name	David Kernahan	Date of Birth	12/07/1973
Officers Title	Mr	Nationality	British
Present Appointments	11	Function	Director
Appointment Date	01/11/2004
Address	The Byre Upper Bagden Farm, Bagden Lane, Huddersfield, West Yorkshire, HD8 9LQ
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Paul John Roberts	Date of Birth	02/12/1968
Officers Title	Mr	Nationality	British
Present Appointments	22	Function	Director
Appointment Date	25/11/2011
Address	8 Stevenson Way, Sheffield, South Yorkshire, S9 3WZ
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Richard Slee	Date of Birth	14/03/1962
Officers Title	Mr	Nationality	British
Present Appointments	9	Function	Director
Appointment Date	25/11/2011
Address	8 Stevenson Way, Sheffield, South Yorkshire, S9 3WZ
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Santhanagopalan Subramanian	Date of Birth	23/07/1958
Officers Title	Mr	Nationality	Indian
Present Appointments	3	Function	Director
Appointment Date	25/11/2011
Address	8 Stevenson Way, Sheffield, South Yorkshire, S9 3WZ
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

NEGATIVE INFORMATION

Commentary

No exact match CCJs are recorded against the company.
There has been no significant change in the company's credit rating.
The credit limit on this company has risen 17.6% in comparison to the previously suggested credit limit.
Net Worth increased by 15.3% during the latest trading period.
A 9% growth in Total Assets occurred during the latest trading period.
The company saw a decrease in their Cash Balance of 54.5% 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 was established over 8 years ago.

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -	\csukserver01002INT'L CREDIT REPORT2013.05.002013.05.30CCJDetails.aspx?CompanyNumber=05172752
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -	\csukserver01002INT'L CREDIT REPORT2013.05.002013.05.30CCJDetails.aspx?CompanyNumber=05172752
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -	\csukserver01002INT'L CREDIT REPORT2013.05.002013.05.30CCJDetails.aspx?CompanyNumber=05172752
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
TVS EUROPE DISTRIBUTION LIMITED	GBP	50,000	ORDINARY	1	100

PAYMENT INFORMATION

Payment Information Summary

Days Beyond Terms

Trend Indicator

                         Average Payment Experience  

6	11
Company DBT	UK Average DBT

Steady

Improving Worsening

Within Terms

\csukserver01002INT'L CREDIT REPORT2013.05.002013.05.30DebtorDetails.aspx?companyNumber=05172752&companyName=Trade Debtors / Bad Debt Summary

Total Number of Documented Trade Debtors / Bad Debt -	9
Total Value of Documented Trade Debtors / Bad Debt -	£25,525

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	8 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	TVS EUROPE DISTRIBUTION LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	TVS SRICHAKRA LTD

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
TVS SRICHAKRA LTD	N/A	-	-
TVS EUROPE DISTRIBUTIO...	07839757	31.03.2012	Y	£6,187,357
UNIVERSAL COMPONENTS...	05172752	31.03.2012	Y	£5,057,000
KELLETT (UK) LIMITED	00153935	31.03.2012	N
UNIVERSAL COMPONEN...	05395043	31.03.2012	N
POLLARD BEAUMONT L...	05775938	31.03.2012	N
REFLECTED LIGHT LI...	05547641	31.03.2012	N
EUROPEAN TRUCK &...	04567432	31.03.2012	N

FINANCIAL INFORMATION

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/03/2012	£5,057,000	£411,000	£4,179,000	95
31/12/2011	£19,812,000	£2,125,000	£3,844,000	91
31/12/2010	£19,812,000	£2,125,000	£3,844,000	91

Profit & Loss

	Date Of Accounts	31/03/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
	Weeks	65	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	Y	(%)	Y	(%)	Y	(%)	Y	(%)	Y
	Turnover	£5,057,000	-74.5%	£19,812,000	-	£19,812,000	25.7%	£15,759,058	7.8%	£14,617,024
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	£3,474,000	-73.5%	£13,127,000	-	£13,127,000	24.4%	£10,555,165	0.7%	£10,482,059
	Gross Profit	£1,583,000	-76.3%	£6,685,000	-	£6,685,000	28.5%	£5,203,893	25.9%	£4,134,965
	Wages & Salaries	£523,000	-74%	£2,013,000	-	£2,013,000	17.7%	£1,709,810	4.5%	£1,635,917
	Directors Emoluments	£35,000	-45.3%	£64,000	-	£64,000	-49.3%	£126,185	-8.8%	£138,298
	Operating Profit	£424,000	-80.6%	£2,184,000	-	£2,184,000	263.7%	£600,413	176.6%	£217,057
	Depreciation	£12,000	-76.5%	£51,000	-	£51,000	-32.3%	£75,343	124.2%	£33,607
	Audit Fees	£25,000	-	£25,000	-	£25,000	30.9%	£19,100	-0.5%	£19,200
	Interest Payments	£13,000	-78%	£59,000	-	£59,000	-12.3%	£67,238	-55.3%	£150,299
	Pre Tax Profit	£411,000	-80.7%	£2,125,000	-	£2,125,000	298.6%	£533,175	698.2%	£66,795
	Taxation	-£76,000	87.8%	-£624,000	-	-£624,000	-431.4%	-£117,423	-556.5%	-£17,887
	Profit After Tax	£335,000	-77.7%	£1,501,000	-	£1,501,000	261%	£415,752	750.1%	£48,908
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	£335,000	-77.7%	£1,501,000	-	£1,501,000	261%	£415,752	750.1%	£48,908

Balance Sheet

	Date Of Accounts	31/03/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
	Tangible Assets	£136,000	103%	£67,000	-	£67,000	-32.8%	£99,669	-48.5%	£193,610
	Intangible Assets	£1,222,000	-4.5%	£1,280,000	-	£1,280,000	-24.7%	£1,699,904	3.3%	£1,645,884
	Total Fixed Assets	£1,358,000	0.8%	£1,347,000	-	£1,347,000	-25.1%	£1,799,573	-2.2%	£1,839,494
	Stock	£3,883,000	9.1%	£3,558,000	-	£3,558,000	16.4%	£3,056,219	-1.2%	£3,093,807
	Trade Debtors	£4,450,000	14.2%	£3,898,000	-	£3,898,000	16.4%	£3,350,152	6.6%	£3,142,272
	Cash	£15,000	-54.5%	£33,000	-	£33,000	999.9%	£2,880	-88.4%	£24,797
	Other Debtors	£158,000	-26.9%	£216,000	-	£216,000	69.4%	£127,498	-45.5%	£234,151
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£8,506,000	10.4%	£7,705,000	-	£7,705,000	17.9%	£6,536,749	0.6%	£6,495,027
	Trade Creditors	£2,304,000	10.1%	£2,092,000	-	£2,092,000	8.6%	£1,925,782	13.4%	£1,697,649
	Bank Loans & Overdrafts	£86,000	109.8%	£41,000	-	£41,000	-79%	£194,984	0.9%	£193,311
	Other Short Term Finance	£1,910,000	18.3%	£1,614,000	-	£1,614,000	-9.4%	£1,781,822	-33.8%	£2,690,045
	Miscellaneous Current Liabilities	£926,000	-8.1%	£1,008,000	-	£1,008,000	-36%	£1,576,043	30.8%	£1,204,534
	Total Current Liabilities	£5,226,000	9.9%	£4,755,000	-	£4,755,000	-13.2%	£5,478,631	-5.3%	£5,785,539
	Bank Loans & Overdrafts and LTL	£545,000	10.3%	£494,000	-	£494,000	-67.8%	£1,535,276	23.7%	£1,240,646
	Other Long Term Finance	0	-	0	-	0	-	0	-100%	£12,667
	Total Long Term Liabilities	£459,000	1.3%	£453,000	-	£453,000	-66.2%	£1,340,292	28%	£1,047,335

Capital & Reserves

	Date Of Accounts	31/03/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
	Called Up Share Capital	£50,000	-	£50,000	-	£50,000	-	£50,000	-18%	£60,975
	P & L Account Reserve	£3,364,000	11.1%	£3,029,000	-	£3,029,000	331.2%	£702,399	2.3%	£686,647
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	£765,000	-	£765,000	-	£765,000	-	£765,000	1.5%	£754,025
	Shareholder Funds	£4,179,000	8.7%	£3,844,000	-	£3,844,000	153.3%	£1,517,399	1%	£1,501,647

Other Financial Items

	Date Of Accounts	31/03/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
	Net Worth	£2,957,000	15.3%	£2,564,000	-	£2,564,000	999.9%	-£182,505	-26.5%	-£144,237
	Working Capital	£3,280,000	11.2%	£2,950,000	-	£2,950,000	178.8%	£1,058,118	49.1%	£709,488
	Total Assets	£9,864,000	9%	£9,052,000	-	£9,052,000	8.6%	£8,336,322	0%	£8,334,521
	Total Liabilities	£5,685,000	9.2%	£5,208,000	-	£5,208,000	-23.6%	£6,818,923	-0.2%	£6,832,874
	Net Assets	£4,179,000	8.7%	£3,844,000	-	£3,844,000	153.3%	£1,517,399	1%	£1,501,647

Cash Flow

	Date Of Accounts	31/03/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
	Net Cashflow from Operations	-£227,000	-112.7%	£1,786,000	33.5%	£1,338,000	152.5%	£529,813	-77.2%	£2,328,610
	Net Cashflow before Financing	-£323,000	-124.1%	£1,342,000	50.1%	£894,000	114.5%	£416,690	999.9%	-£45,825
	Net Cashflow from Financing	£260,000	121.1%	-£1,235,000	-56.9%	-£787,000	-78.7%	-£440,280	-999.9%	-£25,047
	Increase in Cash	-£63,000	-158.9%	£107,000	-	£107,000	553.6%	-£23,590	66.7%	-£70,872

Miscellaneous

	Date Of Accounts	31/03/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£4,638,000	7.9%	£4,297,000	-	£4,297,000	50.4%	£2,857,691	12.1%	£2,548,982
	Number of Employees	95	4.4%	91	-	91	12.3%	81	-11%	91
	Auditors	BAKER TILLY UK AUDIT LLP
	Auditor Comments	The audit report contains no adverse comments
	Bankers	YORKSHIRE BANK PLC
	Bank Branch Code	05-08-08

Ratios

	Date Of Accounts	31/03/12	31/12/11	31/12/10	31/12/09	31/12/08
	Pre-tax profit margin %	8.13	10.73	10.73	3.38	0.46
	Current ratio	1.63	1.62	1.62	1.19	1.12
	Sales/Net Working Capital	1.54	6.72	6.72	14.89	20.60
	Gearing %	13	12.90	12.90	101.20	82.60
	Equity in %	48.40	49.50	49.50	22.90	22.50
	Creditor Days	207.30	38.43	38.43	44.48	42.27
	Debtor Days	400.38	71.61	71.61	77.38	78.25
	Liquidity/Acid Test	0.88	0.87	0.87	0.63	0.58
	Return On Capital Employed %	8.86	49.45	49.45	18.65	2.62
	Return On Total Assets Employed %	4.16	23.47	23.47	6.39	0.80
	Current Debt Ratio	1.25	1.23	1.23	3.61	3.85
	Total Debt Ratio	1.36	1.35	1.35	4.49	4.55
	Stock Turnover Ratio %	76.78	17.95	17.95	19.39	21.16
	Return on Net Assets Employed %	9.83	55.28	55.28	35.13	4.44

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Mortgage Summary

Outstanding	1
Satisfied	1

Company Secretary

Name	Paul Roberts	Date of Birth	-
Officers Title	Mr	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	25/11/2011
Address	8 Stevenson Way, Sheffield, South Yorkshire, S9 3WZ

Status History

No Status History found

Event History

Date	Description
10/10/2012	New Accounts Filed	View Document
10/10/2012	New Accounts Filed	View Document
10/10/2012	New Accounts Filed	View Document
17/07/2012	Annual Returns	View Document
17/05/2012	New Board Member Mr S. Subramanian appointed	View Document
17/05/2012	New Board Member Mr R. Slee appointed	View Document
11/05/2012	New Company Secretary Mr P. Roberts appointed	View Document
10/05/2012	Mr G. Hadley has resigned as company secretary	View Document
10/05/2012	Mr G. Hadley has left the board	View Document
10/05/2012	New Board Member Mr S. Subramanian appointed	View Document
10/05/2012	New Board Member Mr R. Slee appointed	View Document
10/05/2012	New Board Member Mr P.J. Roberts appointed	View Document
03/10/2011	New Accounts Filed	View Document
14/07/2011	Annual Returns	View Document
11/10/2010	New Accounts Filed	View Document

Previous Company Names

Date	Previous Name
06/10/2009	UNIVERSAL COMPONENTS UK LIMITED
08/09/2004	HLW 236 LIMITED

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.49
UK Pound	1	Rs.86.81
Euro	1	Rs.73.68

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%)

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.