MIRA INFORM REPORT

Report Date :

26.03.2013

IDENTIFICATION DETAILS

Name :	POLYMER PRODUCTS (U.K.) LIMITED
Registered Office :	4 Stepbridge Road Forest Of Dean Business Estate Coleford GL16 8PJ
Country :	United Kingdom
Financials (as on) :	30.09.2011
Date of Incorporation :	29.06.1993
Com. Reg. No.:	02831295
Legal Form :	Private limited with Share Capital
Line of Business :	Manufacture of Other Rubber Products
No. of Employees :	Not Available

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 :	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 (31.03.2011)	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

REGISTERED NAME & COMPANY SUMMARY

Summary – Company Information

Company Name	POLYMER PRODUCTS (U.K.) LIMITED	Company Number	02831295
Registered Address	4 STEPBRIDGE ROAD	Trading Address	Unit 4B, Tufthorn Industrial Estate Stepbridge Road Forest of Dean Business Estate Coleford, Gloucestershire GL16 8PJ
	FOREST OF DEAN BUSINESS ESTATE
	COLEFORD
	GL16 8PJ
Website Address	http://www.polymerproducts.co.uk
Telephone Number	01594833100	Fax Number
TPS	No	FPS	No
Incorporation Date	29/06/1993	Company Status	Active - Accounts Filed
Previous Name		Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	28/04/2012
		Share Capital	£2,000
SIC03	2513	Currency	GBP
SIC03 Description	MANUFACTURE OF OTHER RUBBER PRODUCTS
SIC07	22190
SIC07 Description	MANUFACTURE OF OTHER RUBBER PRODUCTS
Principal Activity	Manufacture of other rubber products.

DIRECTORS/MANAGEMENT

Directors

Total Current Directors	2
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	2

Current Directors

Name	Barrie Alan Hamilton	Date of Birth	02/01/1955
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Director
Appointment Date	29/06/1993
Address	Highfield, 4 Church View, Tarrington, Hereford, HR1 4FE
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Wendy Lister	Date of Birth	26/03/1954
Officers Title	Ms	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	29/06/1993
Address	24 Milling Crescent, Aylburton, Lydney, Gloucestershire, GL15 6DD
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	Jane Caroline Hamilton	Date of Birth	14/06/1958
Officers Title	Ms	Nationality	British
Present Appointments	2	Function	Company Secretary
Appointment Date	29/06/1993
Address	Highfield, 4 Church View, Tarrington, Hereford, HR1 4FE

NEGATIVE INFORMATION

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	2
Satisfied	0

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
BARRIE ALAN HAMILTON	GBP	1,200	ORDINARY	1	60
JANE CAROLINE HAMILTON	GBP	600	ORDINARY	1	30
MRS WENDY M. LISTER	GBP	200	ORDINARY	1	10

PAYMENT INFORMATION

Summary – Payment History

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
30/09/2011	-	-	£1,690,307	-
30/09/2010	-	-	£1,555,615	-
30/09/2009	-	-	£1,423,245	-

Payment Information Summary

Days Beyond Terms

Trend Indicator

8	10
Company DBT	UK Average DBT

Steady

Improving Worsening

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade Debtors / Bad Debt -	3
Total Value of Documented Trade Debtors / Bad Debt -	£3,003

GROUP STRUCTURE & AFFILIATED COMPANIES

Group Structure

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Group structure

No group structure

FINANCIAL INFORMATION

Financials

Profit & Loss

Date Of Accounts	30/09/11	(%)	30/09/10	(%)	30/09/09	(%)	30/09/08	(%)	30/09/07
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	-	-	-	-	-	-	-	-	-
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages & Salaries	-	-	-	-	-	-	-	-	-
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	-	-	-	-	-	-	-	-	-
Depreciation	£28,380	66%	£17,097	-14%	£19,881	3.4%	£19,236	-14.3%	£22,449
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	30/09/11	(%)	30/09/10	(%)	30/09/09	(%)	30/09/08	(%)	30/09/07
Tangible Assets	£538,096	8%	£498,275	0.9%	£493,975	-3%	£509,171	-1.2%	£515,545
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£538,096	8%	£498,275	0.9%	£493,975	-3%	£509,171	-1.2%	£515,545
Stock	£666,911	8.6%	£614,194	-5.3%	£648,869	27.5%	£508,903	19.4%	£426,341
Trade Debtors	£374,110	-1%	£378,002	45.4%	£260,034	-27%	£356,178	6.5%	£334,366
Cash	£284,714	27.8%	£222,806	8.9%	£204,511	36.3%	£150,094	-0.6%	£150,955
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£1,325,735	9.1%	£1,215,002	9.1%	£1,113,414	9.7%	£1,015,175	11.4%	£911,662
Trade Creditors	£170,407	9.3%	£155,838	-15.4%	£184,144	-28.6%	£258,022	15.1%	£224,082
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	0	-	0	-	0	-	0	-	0
Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	0
Total Current Liabilities	£170,407	9.3%	£155,838	-15.4%	£184,144	-28.6%	£258,022	15.1%	£224,082
Bank Loans & Overdrafts and LTL	£3,117	70.9%	£1,824	-	0	-	0	-100%	£119,955
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£3,117	70.9%	£1,824	-	0	-	0	-100%	£119,955

Capital & Reserves

Date Of Accounts	30/09/11	(%)	30/09/10	(%)	30/09/09	(%)	30/09/08	(%)	30/09/07
Called Up Share Capital	£2,000	-	£2,000	-	£2,000	-	£2,000	-	£2,000
P & L Account Reserve	£1,688,307	8.7%	£1,553,615	9.3%	£1,421,245	12.4%	£1,264,324	16.9%	£1,081,170
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£1,690,307	8.7%	£1,555,615	9.3%	£1,423,245	12.4%	£1,266,324	16.9%	£1,083,170

Other Financial Items

Date Of Accounts	30/09/11	(%)	30/09/10	(%)	30/09/09	(%)	30/09/08	(%)	30/09/07
Net Worth	£1,690,307	8.7%	£1,555,615	9.3%	£1,423,245	12.4%	£1,266,324	16.9%	£1,083,170
Working Capital	£1,155,328	9.1%	£1,059,164	14%	£929,270	22.7%	£757,153	10.1%	£687,580
Total Assets	£1,863,831	8.8%	£1,713,277	6.6%	£1,607,389	5.4%	£1,524,346	6.8%	£1,427,207
Total Liabilities	£173,524	10.1%	£157,662	-14.4%	£184,144	-28.6%	£258,022	-25%	£344,037
Net Assets	£1,690,307	8.7%	£1,555,615	9.3%	£1,423,245	12.4%	£1,266,324	16.9%	£1,083,170

Miscellaneous

Date Of Accounts	30/09/11	(%)	30/09/10	(%)	30/09/09	(%)	30/09/08	(%)	30/09/07
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£1,693,424	8.7%	£1,557,439	9.4%	£1,423,245	12.4%	£1,266,324	5.3%	£1,203,125
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers	NATIONAL WESTMINSTER BANK PLC
Bank Branch Code

Ratios

Date Of Accounts	30/09/11	30/09/10	30/09/09	30/09/08	30/09/07
Pre-tax profit margin %	-	-	-	-	-
Current ratio	7.78	7.80	6.05	3.93	4.07
Sales/Net Working Capital	-	-	-	-	-
Gearing %	0.20	0.10	0	0	11.10
Equity in %	90.70	90.80	88.50	83.10	75.90
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	3.86	3.85	2.52	1.96	2.17
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	0.10	0.10	0.12	0.20	0.20
Total Debt Ratio	0.10	0.10	0.12	0.20	0.31
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Commentary

No exact match CCJs are recorded against the company.
There is insufficient data to indicate a change in this companies percentage of sales.
Net Worth increased by 8.7% during the latest trading period.
A 8.8% growth 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 27.8% 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 was established over 19 years ago.

Event History

Status History

No Status History found

Event History

Date	Description
18/07/2012	Annual Returns
07/05/2012	New Accounts Filed
12/07/2011	Annual Returns
02/07/2011	New Accounts Filed
27/07/2010	Annual Returns
07/12/2009	New Accounts Filed
19/07/2009	Annual Returns
23/11/2008	New Accounts Filed
01/08/2008	Annual Returns
26/11/2007	New Accounts Filed
11/07/2007	Annual Returns
10/07/2007	Annual Returns
07/12/2006	New Accounts Filed
02/12/2005	New Accounts Filed
23/09/2005	Change in Reg.Office

Previous Company Names

No Previous Names found

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.10
UK Pound	1	Rs.82.46
Euro	1	Rs.70.49

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.