MIRA INFORM REPORT

Report Date :

23.03.2013

IDENTIFICATION DETAILS

Name :	ANIXTER LIMITED
Formerly Known As :	WALTERS HEXAGON LIMITED
Registered Office :	Inspired Easthampstead Road Bracknell Berkshire RG12 1YQ
Country :	United Kingdom
Financials (as on) :	31.12.2011
Date of Incorporation :	21.06.1930
Com. Reg. No.:	00248952
Legal Form :	Private Limited with Share Capital
Line of Business :	Provider of products for voice, data, multimedia and energy networks and also provides direct line feed systems for manufacturers, systems that control and manage the supply of fasteners and small components delivered directly to the point of use.
No. of Employees :	1089

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 :	Good
Payment Behaviour :	Regular
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

Company name and address

Top of Form

Company Name	ANIXTER LIMITED	Company Number	00248952
Registered Address	INSPIRED EASTHAMPSTEAD ROAD	Trading Address	35 Rocky Lane Aston Cross Birmingham West Midlands B6 5RQ
	BRACKNELL
	BERKSHIRE
	RG12 1YQ
Branch Office of Anixter Limited:	ANIXTER FASTENERS Address : Waterwells Drive Quedgeley, Gloucester, United Kingdom Incorporation : 01.01.2002
Website Address	http://www.anixter.co.uk
Telephone Number	-	Fax Number
TPS	-	FPS	No
Incorporation Date	21/06/1930	Company Status	Active - Accounts Filed
Previous Name	WALTERS HEXAGON LIMITED	Type	Private limited with Share Capital
Date of Change	05/01/2005	Filing Date of Accounts	08/08/2012
		Share Capital	£167,500,000
SIC03	5190	Currency	GBP
SIC03 Description	OTHER WHOLESALE
SIC07	46900
SIC07 Description	NON-SPECIALISED WHOLESALE TRADE
Principal Activity	Provider of products for voice, data, multimedia and energy networks and also provides direct line feed systems for manufacturers, systems that control and manage the supply of fasteners and small components delivered directly to the point of use.

Accounts Due Date 30/09/2013

Commentary

Multiple CCJ's recorded against the company.
Sales in the latest trading period increased 11.4% on the previous trading period.
Net Worth increased by 43.4% during the latest trading period.
A 8.6% growth in Total Assets occurred during the latest trading period.
Pre-tax profits increased by 273.8% compared to the previous trading period.
The company saw an increase in their Cash Balance of 56.5% during the latest trading period.
The audit report contains no adverse comments.
No recent changes in directorship are recorded.
The company is part of a group.
The company has changed its year end on multiple occasions.
The company has changed its registered address recently.
The company was established over 82 years ago.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/12/2011	£355,196,000	£5,476,000	£42,990,000	1089
31/12/2010	£318,873,000	£1,465,000	£30,074,000	1109
01/01/2010	£263,734,000	-£6,000,000	£21,397,000	1146

Payment Information Summary

Days Beyond Terms

Trend Indicator

2	10
Company DBT	UK Average DBT

Steady

Improving Worsening

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade Debtors / Bad Debt -	5
Total Value of Documented Trade Debtors / Bad Debt -	£11,156

CCJ

Total Number of Exact CCJs -	6	Total Value of Exact CCJs -	£16,797
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	1	Total Value of Satisfied CCJs -	£359
Total Number of Writs -	-

Exact CCJ Details

Date	Court	Amount	Status	Case Number	Date Paid
08/06/2011	NORTHAMPTON CCBC	£470	Judgement	1XI80729	-
12/04/2011	PLYMOUTH	£665	Judgement	1PL01174	-
14/01/2011	DERBY	£1,722	Judgement	0DE06370	-
22/12/2010	NORTHAMPTON CCBC	£2,499	Judgement	0XI80324	-
06/10/2010	NORTHAMPTON CCBC	£359	Satisfied	0XJ23493	26/11/2010

Possible CCJ Details

There are no possible CCJ details

Writ Details

Date	Court	Plaintiff
07/01/2010	London - Queen's Bench	PRECIMAX LTD

Mortgage Summary

Outstanding	0
Satisfied	7

Total Current Directors	3
Total Current Secretaries	2
Total Previous Directors / Company Secretaries	20

Current Directors

Name	James Hugh Ellis-Rees	Date of Birth	03/05/1957
Officers Title	Mr	Nationality	British
Present Appointments	15	Function	Director
Appointment Date	04/01/2011
Address	Inspired Easthampstead Road, Bracknell, Berkshire, RG12 1YQ
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	William Robert Banks	Date of Birth	17/04/1952
Officers Title	Mr	Nationality	British
Present Appointments	78	Function	Director
Appointment Date	26/09/2003
Address	Inspired Easthampstead Road, Bracknell, Berkshire, RG12 1YQ
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Theodore Dosch	Date of Birth	03/08/1959
Officers Title	Mr	Nationality
Present Appointments	3	Function	Director
Appointment Date	09/12/2011
Address	Inspired Easthampstead Road, Bracknell, Berkshire, RG12 1YQ
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	James Hugh Ellis-Rees	Date of Birth	-
Officers Title	Mr	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	04/01/2011
Address	Inspired Easthampstead Road, Bracknell, Berkshire, RG12 1YQ
Other Actions		View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	James Hugh Ellis-Rees	Date of Birth	-
Officers Title	Mr	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	04/01/2011
Address	Inspired Easthampstead Road, Bracknell, Berkshire, RG12 1YQ
Other Actions		View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value
ANIXTER INTERNATIONAL LTD	GBP	16,750,000	ORDINARY	10

Unable to report percentage holdings as filed Shareholder listing is not full.

Profit & Loss

Date Of Accounts	31/12/11	(%)	31/12/10	(%)	01/01/10	(%)	02/01/09	(%)	28/12/07
Weeks	52	(%)	52	(%)	52	(%)	53	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£355,196,000	11.4%	£318,873,000	20.9%	£263,734,000	-27.9%	£365,970,000	-1%	£369,741,000
Export	£42,470,000	41.3%	£30,058,000	206.1%	£9,819,000	-41.7%	£16,830,000	42.9%	£11,774,000
Cost of Sales	£275,267,000	11.8%	£246,318,000	23%	£200,302,000	-28%	£278,292,000	1.3%	£274,726,000
Gross Profit	£79,929,000	10.2%	£72,555,000	14.4%	£63,432,000	-27.7%	£87,678,000	-7.7%	£95,015,000
Wages & Salaries	£38,728,000	7.3%	£36,107,000	3.1%	£35,018,000	-12.5%	£40,037,000	4.5%	£38,299,000
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	£6,246,000	116.6%	£2,883,000	173.1%	-£3,944,000	-118.3%	£21,560,000	2.2%	£21,095,000
Depreciation	£1,867,000	-1.5%	£1,895,000	-21.1%	£2,401,000	11.3%	£2,158,000	-16.8%	£2,594,000
Audit Fees	£251,000	6.8%	£235,000	-34%	£356,000	49%	£239,000	14.4%	£209,000
Interest Payments	£955,000	-34.7%	£1,463,000	-28.8%	£2,056,000	-30.3%	£2,949,000	7.1%	£2,754,000
Pre Tax Profit	£5,476,000	273.8%	£1,465,000	124.4%	-£6,000,000	-132%	£18,762,000	1.2%	£18,543,000
Taxation	-£1,415,000	7%	-£1,521,000	-161%	£2,493,000	222.9%	-£2,029,000	68.3%	-£6,407,000
Profit After Tax	£4,061,000	999.9%	-£56,000	98.4%	-£3,507,000	-121%	£16,733,000	37.9%	£12,136,000
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	£4,061,000	999.9%	-£56,000	98.4%	-£3,507,000	-121%	£16,733,000	37.9%	£12,136,000

Balance Sheet

Date Of Accounts	31/12/11	(%)	31/12/10	(%)	01/01/10	(%)	02/01/09	(%)	28/12/07
Tangible Assets	£9,720,000	-1.5%	£9,872,000	-11.9%	£11,202,000	-25.4%	£15,016,000	-40.3%	£25,160,000
Intangible Assets	£205,000	-16.7%	£246,000	-14.3%	£287,000	-12.2%	£327,000	-15.9%	£389,000
Total Fixed Assets	£9,925,000	-1.9%	£10,118,000	-11.9%	£11,489,000	-25.1%	£15,343,000	-39.9%	£25,549,000
Stock	£85,701,000	24.8%	£68,675,000	10.3%	£62,285,000	-28.9%	£87,594,000	10.5%	£79,257,000
Trade Debtors	£77,245,000	9.4%	£70,585,000	32.3%	£53,338,000	-15.7%	£63,265,000	-17.7%	£76,829,000
Cash	£4,216,000	56.5%	£2,694,000	24.4%	£2,165,000	-28.9%	£3,043,000	-66.9%	£9,194,000
Other Debtors	£11,227,000	-47.3%	£21,284,000	-61.1%	£54,784,000	-25.5%	£73,487,000	108.6%	£35,226,000
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£178,389,000	9.3%	£163,238,000	-5.4%	£172,572,000	-24.1%	£227,389,000	13.4%	£200,506,000
Trade Creditors	£40,580,000	-3.2%	£41,928,000	17.4%	£35,711,000	-29.2%	£50,440,000	-18%	£61,507,000
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-100%	£17,000
Other Short Term Finance	£86,721,000	0%	£86,740,000	-17.8%	£105,575,000	-24.6%	£140,076,000	37.4%	£101,975,000
Miscellaneous Current Liabilities	£12,102,000	6.1%	£11,409,000	29.7%	£8,795,000	-36.7%	£13,892,000	-26.7%	£18,948,000
Total Current Liabilities	£139,403,000	-0.5%	£140,077,000	-6.7%	£150,081,000	-26.6%	£204,408,000	12%	£182,447,000
Bank Loans & Overdrafts and LTL	£5,921,000	84.7%	£3,205,000	-74.5%	£12,583,000	190.7%	£4,328,000	-28%	£6,013,000
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£5,921,000	84.7%	£3,205,000	-74.5%	£12,583,000	190.7%	£4,328,000	-27.8%	£5,996,000

Capital & Reserves

Date Of Accounts	31/12/11	(%)	31/12/10	(%)	01/01/10	(%)	02/01/09	(%)	28/12/07
Called Up Share Capital	£16,750,000	295.2%	£4,238,000	-	£4,238,000	-	£4,238,000	-	£4,238,000
P & L Account Reserve	£24,585,000	1.7%	£24,181,000	56%	£15,504,000	-44.8%	£28,103,000	-11.4%	£31,719,000
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£1,655,000	-	£1,655,000	-	£1,655,000	-	£1,655,000	-	£1,655,000
Shareholder Funds	£42,990,000	42.9%	£30,074,000	40.6%	£21,397,000	-37.1%	£33,996,000	-9.6%	£37,612,000

Other Financial Items

Date Of Accounts	31/12/11	(%)	31/12/10	(%)	01/01/10	(%)	02/01/09	(%)	28/12/07
Net Worth	£42,785,000	43.4%	£29,828,000	41.3%	£21,110,000	-37.3%	£33,669,000	-9.5%	£37,223,000
Working Capital	£38,986,000	68.3%	£23,161,000	3%	£22,491,000	-2.1%	£22,981,000	27.3%	£18,059,000
Total Assets	£188,314,000	8.6%	£173,356,000	-5.8%	£184,061,000	-24.2%	£242,732,000	7.4%	£226,055,000
Total Liabilities	£145,324,000	1.4%	£143,282,000	-11.9%	£162,664,000	-22.1%	£208,736,000	10.8%	£188,443,000
Net Assets	£42,990,000	42.9%	£30,074,000	40.6%	£21,397,000	-37.1%	£33,996,000	-9.6%	£37,612,000

Miscellaneous

Date Of Accounts	31/12/11	(%)	31/12/10	(%)	01/01/10	(%)	02/01/09	(%)	28/12/07
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£48,911,000	47%	£33,279,000	-2.1%	£33,980,000	-11.3%	£38,324,000	-12.1%	£43,608,000
Number of Employees	1089	-1.8%	1109	-3.2%	1146	-15.8%	1361	3.7%	1313
Auditors	ERNST & YOUNG LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	NATIONAL WESTMINSTER BANK PLC
Bank Branch Code	60-50-40

Ratios

Date Of Accounts	31/12/11	31/12/10	01/01/10	02/01/09	28/12/07
Pre-tax profit margin %	1.54	0.46	-2.28	5.13	5.02
Current ratio	1.28	1.17	1.15	1.11	1.10
Sales/Net Working Capital	9.11	13.77	11.73	15.92	20.47
Gearing %	13.80	10.70	58.80	12.70	16
Equity in %	22.90	17.40	11.60	14	16.70
Creditor Days	41.58	47.86	49.28	51.13	60.55
Debtor Days	79.15	80.57	73.61	64.13	75.63
Liquidity/Acid Test	0.66	0.67	0.73	0.68	0.66
Return On Capital Employed %	11.19	4.40	-17.65	48.95	42.52
Return On Total Assets Employed %	2.90	0.84	-3.25	7.72	8.20
Current Debt Ratio	3.24	4.65	7.01	6.01	4.85
Total Debt Ratio	3.38	4.76	7.60	6.14	5.01
Stock Turnover Ratio %	24.12	21.53	23.61	23.93	21.43
Return on Net Assets Employed %	12.73	4.87	-28.04	55.18	49.30

Status History

No Status History found

Event History

Date	Description
27/12/2012	Annual Returns
05/12/2012	Change in Reg.Office
29/11/2012	Change in Reg.Office
29/11/2012	Change of Company Postcode
16/08/2012	New Accounts Filed
28/12/2011	Annual Returns
22/12/2011	New Board Member Mr T. Dosch appointed
15/12/2011	New Board Member Mr T. Dosch appointed
14/12/2011	Mr J.A. Dul has left the board
23/08/2011	Mr D. Letham has left the board
05/08/2011	New Accounts Filed
05/08/2011	New Accounts Filed
12/01/2011	Annual Returns
11/01/2011	New Company Secretary Mr J.H. Ellis-Rees appointed
06/01/2011	Ms A.M. Vaizey has resigned as company secretary

Previous Company Names

Date	Previous Name
05/01/2005	WALTERS HEXAGON LIMITED
05/02/1998	WEBB FASTENERS LIMITED

Statistics

Group	17 companies
Linkages	20 companies
Countries	In 4 countries

Summary

Holding Company	ANIXTER INTERNATIONAL LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	ANIXTER INTERNATIONAL INC

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
ANIXTER INTERNATIONAL INC		-	-	$6,146,900,000
ANIXTER EURINVEST BV	N/A	-	-
EURINVEST BV	N/A	-	-
ANIXTER INTERNATIONAL LIMITED	02265172	30.12.2011	N
ANIXTER LIMITED	00248952	31.12.2011	N	£355,196,000
ANIXTER(U.K.)LIMITED	01017023	30.12.2011	N
ANIXTER PENSION TRUSTE...	03538804	30.12.2011	N
TOTAL SUPPLY SOLUTIONS...	04141410	31.12.2011	N
COMPONENT INDUSTRIES...	03058477	02.01.2011	N
COMPONENT LOGISTIC...	02481254	02.01.2011	N
ANIXTER DISTRIBUTION I...	IE359608	31.12.2011	N	€21,239,000
ANIXTER HOLDINGS UNLIMITED	03491018	30.12.2011	N
INFAST GROUP LIMITED	00030847	31.12.2011	N
HMH FASTENERS LIMITED	02051082	30.12.2011	N
INFAST SUBSIDIARY NO...	00934832	30.12.2011	N
INDUSTRIAL FASTENER...	00974976	30.12.2011	N
HMH PENSION TRUSTEES L...	01622496	31.12.2011	N

Statistics

Group	17 companies
Linkages	20 companies
Countries	In 4 countries

Other Linked companies

Name	Number	Latest Key Financials	Turnover
ANIXTER SVERIGE AKTIEBOLAG	5562315126	31.12.2011	109,808 KSEK
ANIXTER EUROTWO HOLDINGS B.V.	24348387	31.12.2011
ANIXTER FINLAND, ANIXTER SVERIGE AB:S FILIAL I FINLAND	17712899	31.12.2010	€1,412,000
DISTRIBUTION DYNAMICS, INC		-	$31,576,000
ANIXTER FASTENERS		-
WORLD CLASS WIRE & CABLE, INC		-
ALIGN AEROSPACE HOLDINGS INC		-	$40,000,000
GENERAL LOCK		-	$150,000
CLARK SECURITY PRODUCTS, INC		-	$13,000,000
ANIXTER INC		-	$80,000,000
QUALITY SCREW & NUT CO, INC		-
QSN INDUSTRIES, INC		-
ANIXTER - IMS		-	$55,344,000
GREEN BAY & WESTERN RAILROAD		-
TORNIK INC		-
SIGNAL CAPITAL CORP		-
ANIXTER PUERTO RICO INC		-
ANIXTER REAL ESTATE INC		-	$299,000
ANIXTER INC		-
ITEL CONTAINER VENTURES INC		-

Exact CCJ Details

Date	Court	Amount	Status	Case Number	Date Paid
08/06/2011	NORTHAMPTON CCBC	£470	Judgement	1XI80729	-
12/04/2011	PLYMOUTH	£665	Judgement	1PL01174	-
14/01/2011	DERBY	£1,722	Judgement	0DE06370	-
22/12/2010	NORTHAMPTON CCBC	£2,499	Judgement	0XI80324	-
06/10/2010	NORTHAMPTON CCBC	£359	Satisfied	0XJ23493	26/11/2010
29/09/2009	CARDIFF	£11,068	Judgement	9CF06727	-
10/09/2008	NORTHAMPTON CCBC	£373	Judgement	8XJ82279	-

Possible CCJs Details

There are no possible CCJ details

Writ Details

Date	Court	Plaintiff
07/01/2010	London - Queen's Bench	PRECIMAX LTD

Mortgage Details

Mortgage Type:	CHATTEL MORTGAGE
Date Charge Created:	23/07/01
Date Charge Registered:	25/07/01
Date Charge Satisfied:	23/03/06
Status:	SATISFIED
Person(s) Entitled:	LOMBARD NORTH CENTRAL PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	INTERMEC 6110 DEVICES PEN*KEY 6110 486 WITH LASER SCANNER AND CHARGER LOCATION WEDNESBURY SERIAL NO4493930.INTERMEC EASY CODER 3400 LOCATION WORCESTER SERIAL NO 15100000036.IBM PERSONAL COMPUTER 300GL SERIAL NO PC/178.FOR FURTHER DETAILS OF CHATTELS CHARGED REFER TO FORM 395. SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	COMPOSITE GUARANTEE AND DEBENTURE BETWEEN THE COMPANY, WALTER HEXAGON GROUP LIMITED (FORMERLY KNOWNAS HOLLYCLAIRE LIMITED) (THE PARENT) HEYCO LIMITED AND THE BANK
Date Charge Created:	25/10/00
Date Charge Registered:	08/11/00
Date Charge Satisfied:	20/03/07
Status:	SATISFIED
Person(s) Entitled:	THE ROYAL BANK OF SCOTLAND PLC
Amount Secured:	ALL MONEYS OBLIGATIONS AND LIABILITIES DUE OR TO BECOME DUE FROM THE COMPANY TOTHE CHARGEE UNDER ORPURSUANT TO THE SECURED DOCUMENTS (AS DEFINED)
Details:	FIXED CHARGE PRESENT AND FUTURE INTERESTS IN LAND AND FIXTURES, PLANT, MACHINERY AND EQUIPMENT, DEBTS AND CLAIMS, THE PROCEEDS OF COLLECTION OF DEBTS AND THE BENEFIT OF INSURANCES. THE GOODWILL AND UNCALLED CAPITAL AND INTELLECTUAL PROPERTY. FLOATING CHARGE OVER ALL ASSETS OF THE COMPANY.

Mortgage Type:	COMPOSITE GUARANTEE AND DEBENTURE
Date Charge Created:	14/01/98
Date Charge Registered:	04/02/98
Date Charge Satisfied:	17/10/03
Status:	SATISFIED
Person(s) Entitled:	NATWEST EQUITY PARTNERS LIMITED
Amount Secured:	ALL MONIES OBLIGATIONS AND LIABILITIES DUE FROM THE COMPANY TO THE CHARGEE AND/OR THE NOTEHOLDERS (AS DEFINED) INCLUDING ALL MONIES DUE PURSUANT TO THE SECUREDDOCUMENTS (AS DEFINED) AND THE DUE PERFORMANCE BY THE PARENT (AS DEFINED) OF ALL ITS OBLIGATIONS PURSUANT TO THE SECURED DOCUMENTS TO WHICH IT IS A PARTY AND ALL MONIES AND OBLIGATIONS DUE PURSUANT TO THE SECURED DOCUMENTS BY EACH OTHER COMPANY AND BY ANY OTHER PRESENT OR FUTURESUBSIDIARY OF THE PARENT OR OF ANY COMPANY (EXCEPT ANY OBLIGATIONS OR LIABILITIES OF SUCH OTHER COMPANY OR SUBSIDIARY AS GUARANTOR FOR THE COMPANY CONCERNED)
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	COMPOSITE GUARANTEE AND DEBENTURE
Date Charge Created:	14/01/98
Date Charge Registered:	21/01/98
Date Charge Satisfied:	20/03/07
Status:	SATISFIED
Person(s) Entitled:	THE ROYAL BANK OF SCOTLAND PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND/OR ALL OR ANY OF THE OTHERCOMPANIES NAMED THEREIN TO THE CHARGEE PURSUANT TO THE SECURED DOCUMENTS (AS DEFINED)
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	CHARGE
Date Charge Created:	07/02/83
Date Charge Registered:	10/02/83
Date Charge Satisfied:	10/02/83
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ALL BOOKS & OTHER DEBTS NOW DUE OWING OR INCURRED TO THE COMPANY.

Mortgage Type:	CHARGE
Date Charge Created:	07/05/81
Date Charge Registered:	12/05/81
Date Charge Satisfied:	12/05/81
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIRST FIXED CHARGE OVER BOOK & OTHER DEBTS WITH A FLOATING CHARGE OVER:(SEE DOC M93) UNDERTAKING ANDALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL

Mortgage Type:	MORTGAGE
Date Charge Created:	18/01/80
Date Charge Registered:	25/01/80
Date Charge Satisfied:	08/10/03
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	F/H LANDS & PREMISES BEING JUBILEE HOUSE DENMARK STREET, MAIDENHEAD, BERKSHIRE TOG WITH ALL FIXTURES.

Creditor Details

No Creditor Data
Total Value	-

Trade Debtors / Bad Debt Detail

Company Name	Amount	Statement Date
UK Cabling Limited	£6,997	21/07/2010
Guardian E C L (Northern) Limited	£2,005	13/04/2010
Axion Structural Glazing Limited	£1,321	24/05/2010
A J S I Limited	£588	18/05/2010
Coltran Products Limited	£245	25/07/2012
Total Value	£11,156

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Richard Norman Marchant	24	164
Ian Alexander Duncan	10	92
George Anthony Hazard	1	18
Lloyd Jay Trinkoff	7	33
Lloyd Jay Trinkoff	7	33
Nicholas Peter Horton	2	2
Denise Patricia MacAfee	37	291
David Woodcock	2	10
Gerald Anthony Rudolf	0	3
Richard Corson	0	1
Chris Miskell	0	1
Peter Mycoe	0	1
Philip Leach	0	2
John Albert Dul	4	8
Wilfred Arthur Jacobs	0	9
Alexandra Mary Jane Vaizey	73	30
Alexandra Mary Jane Vaizey	73	30
Dennis Letham	4	4
Mike Overend	15	11
Michael James Tuffy	1	1

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.33
UK Pound	1	Rs.82.56
Euro	1	Rs.70.10

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.