MIRA INFORM REPORT

Report Date :

09.11.2013

IDENTIFICATION DETAILS

Name :	BRITANNIA FASTENERS LIMITED

Formerly Known As :	A.F.U. LTD.

Registered Office :	4/6 Auckland Street, Burslem, Stoke On Trent, ST6 2AT

Country :	United Kingdom

Financials (as on) :	31.10.2012

Date of Incorporation :	18.06.1991

Legal Form :	Private limited with Share Capital

Line of Business :	Other Service Activities N.E.C. Laptop, Recycling Sales and Repair

No. of Employees :	No Available

RATING & COMMENTS

MIRA’s Rating :

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 – March 31^st, 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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 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

Company name

Company Name:	BRITANNIA FASTENERS LIMITED

Company No:	02621288

Registered Address:
4/6 AUCKLAND STREET
BURSLEM
STOKE ON TRENT
ST6 2AT

Company details

Company Name	BRITANNIA FASTENERS LIMITED	Company Number	02621288

Registered Address	4/6 AUCKLAND STREET	Trading Address	4-6 Auckland Street Burslem Stoke-On-Trent Staffordshire ST6 2AT
	BURSLEM
	STOKE ON TRENT
	ST6 2AT

Website Address	http://www.hemplan.co.uk
Telephone Number	01782833233	Fax Number
TPS	No	FPS	No
Incorporation Date	18/06/1991	Company Status	Active - Accounts Filed
Previous Name	A.F.U. LTD.	Type	Private limited with Share Capital
Date of Change	07/10/1991	Filing Date of Accounts	03/04/2013
		Share Capital	£2,000
SIC03	9305	Currency	GBP
SIC03 Description	Other service activities
SIC07	96090
SIC07 Description	OTHER SERVICE ACTIVITIES N.E.C.
Principal Activity

Commentary

No exact match CCJs are recorded against the company.
The company's credit rating has dropped from 68 to 59 but the company still indicates good creditworthiness.
The credit limit on this company has fallen 50% in comparison to the previously suggested credit limit.
There is insufficient data to indicate a change in this companies percentage of sales.
Net Worth increased by 6.2% during the latest trading period.
A 8.8% 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 a decrease in their Cash Balance of 64.8% during the latest trading period.
The company is exempt from audit.
The company has undergone recent changes in its directorships.
The company is not part of a group.
The movement in accumulated earnings would indicate that the company made a profit after tax and other appropriations, including dividends.
The company was established over 22 years ago.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/10/2012	-	-	£79,032	-
31/10/2011	-	-	£74,399	-
31/10/2010	-	-	£60,009	-

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade Debtors / Bad Debt -	4
Total Value of Documented Trade Debtors / Bad Debt -	£15,274

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
Company Name: BRITANNIA FASTENERS LIMITED		Company No: 02621288

Total Current Directors	3
Total Current Secretaries	0
Total Previous Directors / Company Secretaries	4

Current Directors

Name	Stephen Leonard Jenks	Date of Birth	03/02/1953
Officers Title	Mr	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	18/06/1992
Address	Woodcroft, Woodstone Avenue, Endon, Stoke-On-Trent, ST9 9DL

Name	Kevin Duncan Adams	Date of Birth	14/08/1969
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	18/06/1992
Address	12 Mallard Way, Bradeley, Stoke On Trent, Staffordshire, ST6 7QH

Name	Steven James Nicholl	Date of Birth	24/07/1967
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	18/06/1992
Address	16 Rowley Hall Drive, Stafford, ST17 9FF

Current Company Secretary

Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
STEPHEN LEONARD JENKS	GBP	500	ORDINARY	1	25
MR STEVEN JAMES NICHOLL	GBP	500	ORDINARY	1	25
MR KEVIN DUNCAN ADAMS	GBP	500	ORDINARY	1	25
DAVID ARTHUR FORD	GBP	500	ORDINARY A	1	25

Profit & Loss

Date Of Accounts	31/10/12	31/10/11	31/10/10	31/10/09	31/10/08
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	£3,726	£4,926	£1,265	£1,630	£2,101
Audit Fees	-	-	-	-	-
Interest Payments	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-
Taxation	-	-	-	-	-
Profit After Tax	-	-	-	-	-
Dividends Payable	-	-	-	-	-
Retained Profit	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/10/12	31/10/11	31/10/10	31/10/09	31/10/08
Tangible Assets	£77,490	£81,216	£70,382	£71,647	£73,277
Intangible Assets	0	0	0	0	0
Total Fixed Assets	£77,490	£81,216	£70,382	£71,647	£73,277
Stock	£230,000	£173,500	£141,500	£123,000	£119,570
Trade Debtors	£261,218	£368,884	£384,043	£238,166	£296,016
Cash	£160	£454	£611	£474	£526
Other Debtors	0	0	0	0	0
Miscellaneous Current Assets	0	0	0	0	0
Total Current Assets	£491,378	£542,838	£526,154	£361,640	£416,112
Trade Creditors	£481,108	£538,128	£535,267	£377,123	£430,347
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	£481,108	£538,128	£535,267	£377,123	£430,347
Bank Loans & Overdrafts and LTL	£8,728	£11,527	£1,260	£1,260	£1,260
Other Long Term Finance	0	0	0	0	0
Total Long Term Liabilities	£8,728	£11,527	£1,260	£1,260	£1,260

Capital & Reserves

Date Of Accounts	31/10/12	31/10/11	31/10/10	31/10/09	31/10/08
Called Up Share Capital	£2,000	£2,000	£2,000	£2,000	£2,000
P & L Account Reserve	£76,032	£71,399	£57,009	£51,904	£54,782
Revaluation Reserve	-	-	-	-	-
Sundry Reserves	£1,000	£1,000	£1,000	£1,000	£1,000
Shareholder Funds	£79,032	£74,399	£60,009	£54,904	£57,782

Other Financial Items

Date Of Accounts	31/10/12	31/10/11	31/10/10	31/10/09	31/10/08
Net Worth	£79,032	£74,399	£60,009	£54,904	£57,782
Working Capital	£10,270	£4,710	-£9,113	-£15,483	-£14,235
Total Assets	£568,868	£624,054	£596,536	£433,287	£489,389
Total Liabilities	£489,836	£549,655	£536,527	£378,383	£431,607
Net Assets	£79,032	£74,399	£60,009	£54,904	£57,782

Cash Flow

Date Of Accounts	31/10/12	31/10/11	31/10/10	31/10/09	31/10/08
Net Cashflow from Operations	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-
Increase in Cash	-	-	-	-	-

Miscellaneous

Date Of Accounts	31/10/12	31/10/11	31/10/10	31/10/09	31/10/08
Contingent Liability	NO	NO	NO	NO	NO
Capital Employed	£87,760	£85,926	£61,269	£56,164	£59,042
Number of Employees	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers	THE ROYAL BANK OF SCOTLAND PLC
Bank Branch Code

Ratios

Date Of Accounts	31/10/12	31/10/11	31/10/10	31/10/09	31/10/08
Pre-tax profit margin %	-	-	-	-	-
Current ratio	1.02	1.01	0.98	0.96	0.97
Sales/Net Working Capital	-	-	-	-	-
Gearing %	11	15.50	2.10	2.30	2.20
Equity in %	13.90	11.90	10.10	12.70	11.80
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	0.54	0.68	0.71	0.63	0.68
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	6.08	7.23	8.91	6.86	7.44
Total Debt Ratio	6.19	7.38	8.94	6.89	7.46
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

Status History

No Status History found

Event History

Date	Description
24/06/2013	Annual Returns
16/04/2013	New Accounts Filed
24/09/2012	Mr D.A. Ford has resigned as company secretary
24/09/2012	Mr D.A. Ford has left the board
26/06/2012	Annual Returns
20/04/2012	New Accounts Filed
25/06/2011	Annual Returns
11/04/2011	New Accounts Filed
11/09/2010	Annual Returns
25/05/2010	New Accounts Filed
17/07/2009	Annual Returns
12/05/2009	New Accounts Filed
25/07/2008	Annual Returns
30/05/2008	New Accounts Filed
13/08/2007	Annual Returns

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group structure

No group structure

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.73
UK Pound	1	Rs.100.92
Euro	1	Rs.84.06

INFORMATION DETAILS

Report Prepared by :

PDT

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.