MIRA INFORM REPORT

Report Date :

21.04.2014

IDENTIFICATION DETAILS

Name :	GERALD CULLIFORD LTD.

Registered Office :	52 Lower Marsh Lane Kingston Upon Thames, KT1 3BJ

Country :	United Kingdom

Financials (as on) :	30.04.2013

Date of Incorporation :	27.04.1993

Com. Reg. No.:	02813151

Legal Form :	Private Independent

Line of Business :	Subject is a stone wholesaler of quality marble, granite, limestone and quartz. Granite Worktops to Marble tiles & more

No. of Employees	25

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, 2014

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

United Kingdom

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	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. 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, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. 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. Falling 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 included 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 about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 largely due to 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 £375 billion (approximately $605 billion) as of December 2013. 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, however, in 2013 GDP grew 1.4%, accelerating unexpectedly in the second half of the year because of greater consumer spending and a recovering housing market. The budget deficit is falling but remains high at nearly 7% and public debt has continued to increase

Source : CIA

Company name and address

GERALD CULLIFORD LTD.

52 Lower Marsh Lane


Kingston Upon Thames, KT1 3BJ
United Kingdom
(Trading Address) $Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\arrow(1).gif$ Registered Address
$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\arrow(1).gif$ Map

Tel:	02083904656
Fax:	02083908088

$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\arrow(1).gif$ www.geraldculliford.co.uk

Employees:	25
Company Type:	Private Independent

Quoted Status:	Non-quoted Company
Incorporation Date:	27-Apr-1993
Auditor:	Keymer Haslam & Co.


Fiscal Year End:	30-Apr-2013
Reporting Currency:	British Pound Sterling
Annual Sales:	NA
Total Assets:	5.7

Business Description

Gerald Culliford are a leading London & Surrey stone wholesaler of quality marble, granite, limestone and quartz. Granite Worktops to Marble tiles & more.

Industry

Industry	Miscellaneous Wholesale
ANZSIC 2006:	373 - Furniture, Floor Covering and Other Goods Wholesaling
ISIC Rev 4:	4669 - Wholesale of waste and scrap and other products n.e.c.
NACE Rev 2:	4676 - Wholesale of other intermediate products
NAICS 2012:	4239 - Miscellaneous Durable Goods Merchant Wholesalers
UK SIC 2007:	4676 - Wholesale of other intermediate products
US SIC 1987:	509 - Miscellaneous Durable Goods

Key Executives

Name	Title
Simon Sands	Director, Secretary
James Edward Semmens	Director
Oliver Sinclair Webb	Director

Financial Summary

FYE: 30-Apr-2013

USD (mil)

Key Figures
Current Assets	5.46
Fixed Assets	0.28
Total Liabilities	1.67
Net Worth	4.08

Key Ratios
Current Ratio	3.27
Acid Test	2.10

Registered No.(UK): 02813151

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6351951

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.645416

Corporate Overview

Location
52 Lower Marsh Lane
Kingston Upon Thames, KT1 3BJ
Surrey County
United Kingdom

Tel:	02083904656
Fax:	02083908088

$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\externalright.gif$ www.geraldculliford.co.uk

$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\spacer.gif$

Sales GBP(mil):	NA
Assets GBP(mil):	3.7
Employees:	25
Fiscal Year End:	30-Apr-2013

$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\spacer.gif$
KeyID^SM:	42308306
Industry:	Retail (Department and Discount)

$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\spacer.gif$

Registered Address:
4-6 Church Road
Burgess Hill, RH15 9AE
United Kingdom

Incorporation Date:	27-Apr-1993
Company Type:	Private Independent
Quoted Status:	Not Quoted
Registered No.(UK):	02813151

$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\spacer.gif$
Director:	James Edward Semmens

Industry Codes

ANZSIC 2006 Codes:
373	-	Furniture, Floor Covering and Other Goods Wholesaling

ISIC Rev 4 Codes:
4669	-	Wholesale of waste and scrap and other products n.e.c.

NACE Rev 2 Codes:
4676	-	Wholesale of other intermediate products

NAICS 2012 Codes:
4239	-	Miscellaneous Durable Goods Merchant Wholesalers

US SIC 1987:
509	-	Miscellaneous Durable Goods

UK SIC 2007:
4676	-	Wholesale of other intermediate products

Business Description

Importation and sale of natural stones, granite, marble and other stone materials.

$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\spacer.gif$

More Business Descriptions

$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\spacer.gif$

Importation and sale of natural stones, granite, marble and other stone materials.

$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\spacer.gif$

Gerald Culliford are a leading London & Surrey stone wholesaler of quality marble, granite, limestone and quartz. Granite Worktops to Marble tiles & more.

$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\spacer.gif$

Financial Data

Financials in:	GBP(mil)
$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\spacer.gif$
Assets:	3.7
Current Assets:	3.5
Fixed Assets:	0.2
Long Term Debt:	0.0
Total Liabilities:	1.1
Issued Capital:	0.0
Working Capital:	2.4
Net Worth:	2.6
$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\spacer.gif$
Date of Financial Data:	30-Apr-2013

$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\spacer.gif$

1 Year Growth

Key Corporate Relationships

Auditor:	Keymer Haslam & Co.
Bank:	National Westminster Bank PLC
$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\spacer.gif$
Auditor:	Keymer Haslam & Co., Keymer Haslam & Co.
$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\spacer.gif$
Auditor History
Keymer Haslam & Co.	30-Apr-2013
Keymer Haslam &Co	30-Apr-2012
Keymer Haslam &Co	30-Apr-2011
Keymer Haslam And Co	30-Apr-2010
Keymer Haslam And Co	30-Apr-2009
$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\spacer.gif$

	GBP(mil)
Audit Fees:	0.0
Non Audit Fees:	0.0
Audit Fiscal Year:	04-30-2013

Executives Report

Gerald Culliford Ltd.

Kingston Upon Thames, , United Kingdom, Tel: 02083904656, URL: http://www.geraldculliford.co.uk

$Description: \\vivek\Foreign Report Raw\Gerald Culliford Ltd_files\spacer.gif$

Board of Directors

Name

Title

Function

Simon Sands

Director, Secretary

Director/Board Member

Age: 69

James Edward Semmens

Director

Director/Board Member

Age: 36

Oliver Sinclair Webb

Director

Director/Board Member

Age: 37

Executives

Name

Title

Function

Simon Sands

Director, Secretary

Company Secretary

Age: 69

Directors and Shareholders Report

Main Office Address:
52 Lower Marsh Lane
Kingston Upon Thames
United Kingdom KT1 3BJ

Tel: 02083904656
Fax: 02083908088
URL: http://www.geraldculliford.co.uk

Annual Return Date: 27 Apr 2013
Total Issued Capital (GBP 000): 36

Individual Directors

Name	Status	DOB	Filed Address	Appointment Date	Resignation Date	Summary of Directorships
James Edward Semmens	Current	31 Jan 1978	4-6 Church Road, Burgess Hill, West Sussex, West Sussex RH15 9AE	23 Jan 2009	NA	Current:1 Previous:0 Disqualifications:0
Oliver Sinclair Webb	Current	15 Mar 1977	4-6 Church Road, Burgess Hill, West Sussex, West Sussex RH15 9AE	23 Jan 2009	NA	Current:1 Previous:0 Disqualifications:0
Simon Sands	Current	05 Nov 1944	51 Lillian Road, London, London SW13 9JF	27 Apr 1993	NA	Current:2 Previous:2 Disqualifications:0
Gerald Marie Richard Culliford	Previous	15 Mar 1934	Bracken Cottage Mill Road, South Holmwood, Dorking, Surrey RH5 4NU	27 Apr 1993	05 Apr 2005	Current:1 Previous:3 Disqualifications:0

Corporate Directors

There are no corporate directors for this company.

Individual Secretaries

Name	Status	DOB	Filed Address	Appointment Date	Resignation Date	Summary of Directorships
Simon Sands	Current	05 Nov 1944	51 Lillian Road, London, London SW13 9JF	16 Jun 2009	NA	Current:2 Previous:2 Disqualifications:0
Sheila Alden	Previous	NA	Cleaveland Cottage, 88 Rectory Lane, Long Ditton, Surrey KT6 5HW	05 Apr 2005	20 Jan 2009	Current:0 Previous:1 Disqualifications:0
Simon Sands	Previous	05 Nov 1944	51 Lillian Road, London, London SW13 9JF	27 Apr 1993	05 Apr 2005	Current:2 Previous:2 Disqualifications:0

Corporate Secretaries

There are no corporate secretaries for this company.

Individual Shareholders

Name	Share Details (As Reported)	Share Type	# of Shares	Share Price (GBP)	Share Value (GBP)	% of Total Shares
James Semmens	10800 Ordinary GBP 1.00	Ordinary	10,800	1.00	10,800.00	30.00
Oliver Webb	10800 Ordinary GBP 1.00	Ordinary	10,800	1.00	10,800.00	30.00
Simon Rae Sands	14400 Ordinary GBP 1.00	Ordinary	14,400	1.00	14,400.00	40.00

Corporate Shareholders

There are no corporate shareholders for this company.

Annual Profit & Loss
	30-Apr-2013	30-Apr-2012	30-Apr-2011	30-Apr-2010	30-Apr-2009
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate (Period Average)	0.635195	0.627861	0.640008	0.625491	0.607152
Consolidated	No	No	No	No	No

Depreciation	0.0	0.0	0.0	0.0	0.0
Audit Fees	0.0	0.0	0.0	0.0	0.0
Non Audit Fees	0.0	0.0	0.0	0.0	0.1

Annual Balance Sheet

Financials in: USD (mil)

	30-Apr-2013	30-Apr-2012	30-Apr-2011	30-Apr-2010	30-Apr-2009
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate	0.645416	0.614874	0.599538	0.653317	0.674855
Consolidated	No	No	No	No	No

Total Tangible Fixed Assets	0.1	0.1	0.1	0.1	0.1
Intangible Assets	0.0	0.0	0.0	0.0	0.0
Investments	0.2	0.1	0.0	0.0	0.0
Total Fixed Assets	0.3	0.2	0.1	0.1	0.1
Total Stocks Work In Progress	2.0	2.0	2.0	1.3	1.2
Total Debtors	1.2	1.6	1.7	1.4	1.5
Cash and Equivalents	2.3	1.7	1.4	2.4	2.8
Other Current Assets	0.0	0.0	0.0	0.0	0.0
Total Current Assets	5.5	5.3	5.1	5.1	5.5
Total Assets	5.7	5.4	5.2	5.2	5.6
Other Current Liabilities	1.7	1.7	1.7	2.2	2.9
Total Current Liabilities	1.7	1.7	1.7	2.2	2.9
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	0.1	0.1	0.1	0.1	0.1
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	4.0	3.7	3.4	2.9	2.6
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	4.1	3.8	3.5	3.0	2.7
Net Worth	4.1	3.8	3.5	3.0	2.7

Annual Cash Flows

Financials in: USD (mil)

	30-Apr-2013	30-Apr-2012	30-Apr-2011	30-Apr-2010	30-Apr-2009
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate (Period Average)	0.635195	0.627861	0.640008	0.625491	0.607152
Consolidated	No	No	No	No	No

Annual Ratios

Financials in: USD (mil)

	30-Apr-2013	30-Apr-2012	30-Apr-2011	30-Apr-2010	30-Apr-2009
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate	0.645416	0.614874	0.599538	0.653317	0.674855
Consolidated	No	No	No	No	No

Current Ratio	3.27	3.16	2.98	2.31	1.87
Liquidity Ratio	2.10	1.98	1.80	1.73	1.47
Equity Gearing	70.98%	69.25%	66.97%	57.60%	47.75%

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.38
UK Pound	1	Rs.101.63
Euro	1	Rs.83.57

INFORMATION DETAILS

Analysis Done by :	DIV

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%)

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.

MIRA INFORM REPORT

Company name and address

Business Description

Industry

Key Executives

Financial Summary

Corporate Overview

Executives Report

Directors and Shareholders Report

Annual Profit & Loss

Unit