MIRA INFORM REPORT

Report Date :

22.10.2013

IDENTIFICATION DETAILS

Name :	MED CUISINE LTD.
Registered Office :	28 Trouville Road London, SW4 8QL
Country :	United Kingdom
Financials (as on) :	31.10.2012
Date of Incorporation :	01.10.1998
Com. Reg. No.:	03642874
Legal Form :	Private Independent
Line of Business :	Subject is an agents in food, drink and tobacco
No. of Employees :	01

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 :	Slow
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

Company name and address

MED CUISINE LTD.

28 Trouville Road
London, SW4 8QL
United Kingdom
(Trading Address) Registered Address
Map
Tel:	020 8675 0304
Fax:	020 8675 2133

Employees:	1
Company Type:	Private Independent
Quoted Status:	Non-quoted Company
Incorporation Date:	01-Oct-1998
Auditor:	Samuels LLP

Fiscal Year End:	31-Oct-2012
Reporting Currency:	British Pound Sterling
Annual Sales:	NA
Total Assets:	0.9

Business Description

Agents in food, drink and tobacco.

Industry

Industry	Miscellaneous Personal Services
ANZSIC 2006:	9539 - Other Personal Services Not Elsewhere Classified
ISIC Rev 4:	9609 - Other personal service activities n.e.c.
NACE Rev 2:	9609 - Other personal service activities n.e.c.
NAICS 2012:	812990 - All Other Personal Services
UK SIC 2007:	9609 - Other personal service activities n.e.c.
US SIC 1987:	7299 - Miscellaneous Personal Services, Not Elsewhere Classified

Key Executives

Name	Title
Christopher Kuranz	Secretary
Joseph Louis	Director

News

Title	Date
Local Jack Fisher Named Sea 180º Chef at Pier South Hotel Imperial Beach Patch (196 Words)	13-Sep-2013
Jack Fisher Named Sea 180º Chef at Pier South Hotel Imperial Beach Patch (121 Words)	13-Sep-2013
San Diego hosts inaugural Latin Food Fest Big News Network (32 Words)	11-Sep-2013
New beachfront dining to open in Imperial Beach San Diego Business Journal (136 Words)	26-Aug-2013
How a fed-up mystery man sparked arrest of brutal drug lord in Mexico Hamilton Spectator, The (Ontario, Canada) (1369 Words)	10-Aug-2013
Greek classics Western Mail (Wales) (558 Words)	27-Jul-2013

Financial Summary

FYE: 31-Oct-2012

USD (mil)

Key Figures
Current Assets	0.94
Fixed Assets	0.0038
Total Liabilities	0.23
Net Worth	0.71

Key Ratios
Current Ratio	4.04
Acid Test	4.04

Key IDSM Number: 44638522

Registered No.(UK): 03642874

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6334069

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6219099

Corporate Overview

Location
28 Trouville Road
London, SW4 8QL
London County
United Kingdom

Tel:	020 8675 0304
Fax:	020 8675 2133

Suggest Company URL

Sales GBP(mil):	NA
Assets GBP(mil):	0.6
Employees:	1
Fiscal Year End:	31-Oct-2012

Industry:

Personal Services

Registered Address:
3 Locks Yard
High Street
Sevenoaks, TN13 1LT
United Kingdom

Incorporation Date:	01-Oct-1998
Company Type:	Private Independent
Quoted Status:	Not Quoted
Registered No.(UK):	03642874

Director:

Joseph Louis

Industry Codes

ANZSIC 2006 Codes:
9539	-	Other Personal Services Not Elsewhere Classified

ISIC Rev 4 Codes:
9609	-	Other personal service activities n.e.c.

NACE Rev 2 Codes:
9609	-	Other personal service activities n.e.c.

NAICS 2012 Codes:
812990	-	All Other Personal Services

US SIC 1987:
7299	-	Miscellaneous Personal Services, Not Elsewhere Classified

UK SIC 2007:
9609	-	Other personal service activities n.e.c.

Business Description

Agents in food, drink and tobacco.

More Business Descriptions

Food Import and Exporters and Agents

Financial Data

Financials in:	GBP(mil)
Assets:	0.6
Current Assets:	0.6
Fixed Assets:	0.0
Long Term Debt:	0.0
Total Liabilities:	0.1
Issued Capital:	0.0
Working Capital:	0.4
Net Worth:	0.4
Date of Financial Data:	31-Oct-2012

1 Year Growth

NA

Key Corporate Relationships

Auditor:	Samuels LLP
Auditor:	Samuels LLP
Auditor History
Samuels LLP	31-Oct-2012
Samuels LLP	31-Oct-2011
Samuels LLP	31-Oct-2010
Samuels LLP	31-Oct-2009
Samuels LLP	31-Oct-2008

Executives Report

Board of Directors

Name	Title	Function
Joseph Louis	Director	Director/Board Member

Executives

Name	Title	Function
Christopher Kuranz	Secretary	Company Secretary

Directors and Shareholders Report

Main Office Address: 28 Trouville Road London United Kingdom SW4 8QL

Tel: 020 8675 0304 Fax: 020 8675 2133

Annual Return Date: 01 Oct 2012

Individual Directors
Name	Status	DOB	Filed Address	Appointment Date	Resignation Date	Summary of Directorships
Joseph Louis	Current	25 Feb 1960	28 Trouville Road, London , London SW4 8QL	06 Oct 1998	NA	Current:1 Previous:0 Disqualifications:0

Corporate Directors
Company Name	Status	Registered Address	Appointment Date	Resignation Date
Company Directors Limited	Previous	788-790 Finchley Road, London , London NW11 7TJ	01 Oct 1998	06 Oct 1998

Individual Secretaries
Name	Status	DOB	Filed Address	Appointment Date	Resignation Date	Summary of Directorships
Christopher Kuranz	Current	NA	5108 Minnetoka Boulevard, St Louis Park, Minnesota	06 Oct 1998	NA	Current:1 Previous:0 Disqualifications:0

Corporate Secretaries
Company Name	Status	Registered Address	Appointment Date	Resignation Date
Temple Secretaries Limited	Previous	788-790 Finchley Road, London , London NW11 7TJ	01 Oct 1998	06 Oct 1998

Individual Shareholders
Name	Share Details (As Reported)	Share Type	# of Shares	Share Price (GBP)	Share Value (GBP)	% of Total Shares
Joseph Louis	2 Ordinary GBP 1.00	Ordinary	2	1.00	2.00	100.00

Corporate Shareholders

There are no corporate shareholders for this company.

News

Local Jack Fisher Named Sea 180º Chef at Pier South Hotel Imperial Beach Patch (196 Words)	13-Sep-2013
Jack Fisher Named Sea 180º Chef at Pier South Hotel Imperial Beach Patch (121 Words)	13-Sep-2013
San Diego hosts inaugural Latin Food Fest Big News Network (32 Words)	11-Sep-2013
New beachfront dining to open in Imperial Beach San Diego Business Journal (136 Words)	26-Aug-2013
How a fed-up mystery man sparked arrest of brutal drug lord in Mexico Hamilton Spectator, The (Ontario, Canada) (1369 Words)	10-Aug-2013
Greek classics Western Mail (Wales) (558 Words)	27-Jul-2013
Greek classics Despite economic woe, city's array of iconic; Despite economic woe, city's array of iconic buildings still make it a must-visit Destination: ATHENS The Journal (Newcastle, England) (567 Words)	27-Jul-2013
Greek classics Birmingham Post (UK) (558 Words)	25-Jul-2013
Greek classics; Destination: ATHENS Despite economic woe, city's array of iconic buildings still make it a must-visit The Birmingham Post (England) (567 Words)	25-Jul-2013
Capture of Mexican mob boss began with a fed-up informant Los Angeles Times (CA) (1423 Words)	21-Jul-2013
Phoenicia Hotel Malta Unveils New Kitchen Garden Planet Confidential (175 Words)	06-Jul-2013

Annual Profit & Loss

	31-Oct-2012	31-Oct-2011	31-Oct-2010	31-Oct-2009	31-Oct-2008
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate (Period Average)	0.633407	0.62326	0.643546	0.650218	0.516581
Consolidated	No	No	No	No	No
Depreciation	0.0	0.0	0.0	0.0	0.0

Annual Balance Sheet

Financials in: USD (mil)

	31-Oct-2012	31-Oct-2011	31-Oct-2010	31-Oct-2009	31-Oct-2008
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate	0.62191	0.61954	0.625469	0.606667	0.618908
Consolidated	No	No	No	No	No
Total Tangible Fixed Assets	0.0	0.0	0.0	0.0	0.0
Intangible Assets	0.0	0.0	0.0	0.0	0.0
Investments	0.0	0.0	0.0	0.0	0.0
Total Fixed Assets	0.0	0.0	0.0	0.0	0.0
Stocks	0.0	0.0	0.0	0.0	0.0
Work in Progress	0.0	0.0	0.0	0.0	0.0
Total Stocks Work In Progress	0.0	0.0	0.0	0.0	0.0
Total Debtors	0.2	0.3	0.4	0.5	0.5
Cash and Equivalents	0.7	0.7	0.3	0.3	0.2
Other Current Assets	0.0	0.0	0.0	0.0	0.0
Total Current Assets	0.9	0.9	0.8	0.7	0.6
Total Assets	0.9	0.9	0.8	0.7	0.6
Other Current Liabilities	0.2	0.3	0.2	0.2	0.3
Total Current Liabilities	0.2	0.3	0.2	0.2	0.3
Group Loans (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Director Loans (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Hire Purchase (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Leasing (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Total Hire Purchase Loans (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Other Long Term Loans	0.0	0.0	0.0	0.0	0.0
Accruals/Deferred Income (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Other Long Term Liabilities	0.0	0.0	0.0	0.0	0.0
Total Long Term Liabilities	0.0	0.0	0.0	0.0	0.0
Deferred Taxation	0.0	0.0	0.0	0.0	0.0
Other Provisions	0.0	0.0	0.0	0.0	0.0
Total Provisions	0.0	0.0	0.0	0.0	0.0
Issued Capital	0.0	0.0	0.0	0.0	0.0
Share Premium Accounts	0.0	0.0	0.0	0.0	0.0
Revaluation Reserve	0.0	0.0	0.0	0.0	0.0
Retained Earnings	0.7	0.7	0.6	0.5	0.4
Other Reserves	0.0	0.0	0.0	0.0	0.0
Minority Interests (Balance Sheet)	0.0	0.0	0.0	0.0	0.0
Total Shareholders Funds	0.7	0.7	0.6	0.5	0.4
Net Worth	0.7	0.7	0.6	0.5	0.4

Annual Cash Flows

Financials in: USD (mil)

	31-Oct-2012	31-Oct-2011	31-Oct-2010	31-Oct-2009	31-Oct-2008
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate (Period Average)	0.633407	0.62326	0.643546	0.650218	0.516581
Consolidated	No	No	No	No	No

Annual Ratios

Financials in: USD (mil)

	31-Oct-2012	31-Oct-2011	31-Oct-2010	31-Oct-2009	31-Oct-2008
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate	0.62191	0.61954	0.625469	0.606667	0.618908
Consolidated	No	No	No	No	No
Current Ratio	4.04	3.75	3.66	3.08	2.23
Liquidity Ratio	4.04	3.75	3.66	3.08	2.23
Equity Gearing	7,533.00%	7,342.00%	7,276.00%	6,772.00%	5,552.00%

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.49
UK Pound	1	Rs.99.41
Euro	1	Rs.84.12

INFORMATION DETAILS

Report Prepared by :

NIS

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.