MIRA INFORM REPORT

Report Date :

30.04.2014

IDENTIFICATION DETAILS

Name :	UNICORN INGREDIENTS LTD
Registered Office :	9 Bridle Close Surbiton Road Kingston Upon Thames KT1 2JW
Country :	United Kingdom
Financials (as on) :	31.03.2012
Date of Incorporation :	28.03.2008
Com. Reg. No.:	06547767
Legal Form :	Private limited with Share Capital
Line of Business :	· Wholesale of food, including fish, crustaceans and molluscs · Wholesale of grain.
No. of Employees

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 but correct
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	A1	A1

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

Company Name:	UNICORN INGREDIENTS LTD
Company No:	06547767

Registered Address:

9 BRIDLE CLOSE

SURBITON ROAD

KINGSTON UPON THAMES

KT1 2JW

Company information

Company Name	UNICORN INGREDIENTS LTD	Company Number	06547767
Registered Address	9 BRIDLE CLOSE SURBITON ROAD KINGSTON UPON THAMES KT1 2JW	Trading Address	4-6 South Street Epsom Surrey KT18 7PF
Website Address	http://www.unicorningredients.com
Telephone Number	-
TPS	-
Incorporation Date	28/03/2008	Company Status	Active - Accounts Filed
Previous Name		Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	23/12/2013
		Share Capital	£100
SIC03	5138	Currency	GBP
SIC03 Description	Wholesale other food inc fish, etc.
SIC07	46380
SIC07 Description	WHOLESALE OF OTHER FOOD, INCLUDING FISH, CRUSTACEANS AND MOLLUSCS
Principal Activity	Wholesale of grain.

Accounts Due Date 31/12/2013

Commentary

No exact match CCJs are recorded against the company.
The company's credit rating has increased from not rated to 49 which indicates it is creditworthy.
There has been no significant change in the company's credit limit.
Sales in the latest trading period increased 4.8% on the previous trading period.
Net Worth decreased by 8.1% during the latest trading period.
A 7.9% growth in Total Assets occurred during the latest trading period.
Pre-tax profits decreased by 3% compared to the previous trading period.
The company saw a decrease in their Cash Balance of 58.8% during the latest trading period.
The audit report contains no adverse comments.
No recent changes in directorship are recorded.
The company is not part of a group.
The company was established over 6 years ago.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/03/2012	£12,968,277	£195,395	£69,111	6
31/03/2011	£12,373,807	£201,400	£75,208	7
31/03/2010	£10,175,458	£215,009	£57,990	5

Payment Information Summary

Days Beyond Terms

Trend Indicator

26	16
Company DBT	UK Average DBT

Steady

Improving Worsening

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

Total Current Directors	2
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	0

Current Directors

Name	Francis James Horan	Date of Birth	17/09/1962
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	28/03/2008
Address	186 Park Road, Kingston Upon Thames, Surrey, KT2 5LS
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Nicola Janice Divers	Date of Birth	23/11/1960
Officers Title	Ms	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	28/03/2009
Address	28 Stanhope Avenue, Bromley, Kent, BR2 7JR
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	Sally Claire Horan	Date of Birth	-
Officers Title	Ms	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	28/03/2008
Address	186 Park Road, Kingston Upon Thames, Surrey, KT2 5LS
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	% of Total Share Count
GREENGLOBE BUSINESS LTD	GBP	25	ORDINARY B	1	25
SANJAY CHANANA	GBP	25	ORDINARY B	1	25
NIKKI DIVERS	GBP	25	ORDINARY A	1	25
FRANCIS JAMES HORAN	GBP	25	ORDINARY A	1	25

Profit & Loss

	Date Of Accounts	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	-
	Weeks	52	(%)	52	(%)	52	(%)	53	(%)	-
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	-
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	-
	Turnover	£12,968,277	4.8%	£12,373,807	21.6%	£10,175,458	157.2%	£3,955,998	-	-
	Export	£5,213,825	-4.9%	£5,481,792	136.6%	£2,316,892	171.6%	£853,040	-	-
	Cost of Sales	£12,374,330	4.5%	£11,839,525	22.6%	£9,660,972	158.6%	£3,736,240	-	-
	Gross Profit	£593,947	11.2%	£534,282	3.8%	£514,486	134.1%	£219,758	-	-
	Wages & Salaries	£154,938	26.2%	£122,747	86.5%	£65,812	888%	£6,661	-	-
	Directors Emoluments	-	-	-	-	-	-	-	-	-
	Operating Profit	£233,905	-4.7%	£245,550	-4.4%	£256,966	83.1%	£140,318	-	-
	Depreciation	£9,583	27.3%	£7,527	89.6%	£3,969	89.3%	£2,097	-	-
	Audit Fees	£3,500	16.7%	£3,000	20%	£2,500	-	-	-	-
	Interest Payments	£38,569	-12.8%	£44,241	5.4%	£41,958	122%	£18,896	-	-
	Pre Tax Profit	£195,395	-3%	£201,400	-6.3%	£215,009	74.8%	£123,028	-	-
	Taxation	-£43,987	-0.1%	-£43,957	-3.5%	-£42,490	-69.9%	-£25,003	-	-
	Profit After Tax	£151,408	-3.8%	£157,443	-8.7%	£172,519	76%	£98,025	-	-
	Dividends Payable	£157,601	12.4%	£140,225	21.5%	£115,384	18.7%	£97,174	-	-
	Retained Profit	-£6,193	-136%	£17,218	-69.9%	£57,135	999.9%	£851	-	-

Balance Sheet

	Date Of Accounts	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	-
	Tangible Assets	£15,155	-38.7%	£24,738	19.1%	£20,776	156.5%	£8,099	-	-
	Intangible Assets	0	-	0	-	0	-	0	-	-
	Total Fixed Assets	£15,155	-38.7%	£24,738	19.1%	£20,776	156.5%	£8,099	-	-
	Stock	£1,567,718	35.8%	£1,154,795	1.9%	£1,133,486	84.7%	£613,537	-	-
	Trade Debtors	£1,817,412	-4.7%	£1,907,470	56.4%	£1,219,871	13.3%	£1,076,725	-	-
	Cash	£121,433	-58.8%	£294,939	-18.3%	£361,111	33%	£271,612	-	-
	Other Debtors	£197,438	211.3%	£63,427	76.7%	£35,886	-84.6%	£233,105	-	-
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	-
	Total Current Assets	£3,704,001	8.3%	£3,420,631	24.4%	£2,750,354	25.3%	£2,194,979	-	-
	Trade Creditors	£2,882,577	16.2%	£2,481,233	34.1%	£1,850,971	28.6%	£1,439,474	-	-
	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	-
	Other Short Term Finance	0	-	0	-	0	-	0	-	-
	Miscellaneous Current Liabilities	£92,029	-56.9%	£213,489	14.3%	£186,730	113.9%	£87,311	-	-
	Total Current Liabilities	£2,974,606	10.4%	£2,694,722	32.2%	£2,037,701	33.5%	£1,526,785	-	-
	Bank Loans & Overdrafts and LTL	£675,439	-	£675,439	-	£675,439	0%	£675,438	-	-
	Other Long Term Finance	£675,439	-	£675,439	-	£675,439	35.6%	£498,187	-	-
	Total Long Term Liabilities	£675,439	-	£675,439	-	£675,439	0%	£675,438	-	-

Capital & Reserves

	Date Of Accounts	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	-
	Called Up Share Capital	£100	999.9%	£4	-	£4	-	£4	-	-
	P & L Account Reserve	£69,011	-8.2%	£75,204	29.7%	£57,986	999.9%	£851	-	-
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£69,111	-8.1%	£75,208	29.7%	£57,990	999.9%	£855	-	-

Other Financial Items

	Date Of Accounts	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	-
	Net Worth	£69,111	-8.1%	£75,208	29.7%	£57,990	999.9%	£855	-	-
	Working Capital	£729,395	0.5%	£725,909	1.9%	£712,653	6.7%	£668,194	-	-
	Total Assets	£3,719,156	7.9%	£3,445,369	24.3%	£2,771,130	25.8%	£2,203,078	-	-
	Total Liabilities	£3,650,045	8.3%	£3,370,161	24.2%	£2,713,140	23.2%	£2,202,223	-	-
	Net Assets	£69,111	-8.1%	£75,208	29.7%	£57,990	999.9%	£855	-	-

Cash Flow

	Date Of Accounts	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	-
	Net Cashflow from Operations	£66,467	-61.4%	£172,176	-40.3%	£288,488	-	-	-	-
	Net Cashflow before Financing	-£173,602	-162.3%	-£66,172	-173.9%	£89,498	-	-	-	-
	Net Cashflow from Financing	£96	-	-	-100%	£1	-	-	-	-
	Increase in Cash	-£173,506	-162.2%	-£66,172	-173.9%	£89,499	-	-	-	-

Miscellaneous

	Date Of Accounts	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09	(%)	-
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	-
	Capital Employed	£744,550	-0.8%	£750,647	2.3%	£733,429	8.4%	£676,293	-	-
	Number of Employees	6	-14.3%	7	40%	5	-	-	-	-
	Auditors	JAMES WORLEY & SONS
	Auditor Comments	The audit report contains no adverse comments
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	31/03/12	31/03/11	31/03/10	31/03/09	-
	Pre-tax profit margin %	1.51	1.63	2.11	3.11	-
	Current ratio	1.25	1.27	1.35	1.44	-
	Sales/Net Working Capital	17.78	17.05	14.28	5.92	-
	Gearing %	977.30	898.10	1164.80	78998.60	-
	Equity in %	1.90	2.20	2.10	-	-
	Creditor Days	80.90	72.99	66.21	134.99	-
	Debtor Days	51.01	56.11	43.63	100.97	-
	Liquidity/Acid Test	0.71	0.84	0.79	1.03	-
	Return On Capital Employed %	26.24	26.83	29.31	18.19	-
	Return On Total Assets Employed %	5.25	5.84	7.75	5.58	-
	Current Debt Ratio	43.04	35.83	35.13	1785.71	-
	Total Debt Ratio	52.81	44.81	46.78	2575.69	-
	Stock Turnover Ratio %	12.08	9.33	11.13	15.50	-
	Return on Net Assets Employed %	282.72	267.79	370.76	14389.23	-

Status History

No Status History found

Event History

Date	Description
14/05/2013	Annual Returns
13/12/2012	New Accounts Filed
03/04/2012	Annual Returns
14/01/2012	New Accounts Filed
14/01/2012	New Accounts Filed
04/04/2011	Annual Returns
05/01/2011	New Accounts Filed
05/01/2011	New Accounts Filed
15/05/2010	Annual Returns
10/02/2010	New Accounts Filed
28/04/2009	Annual Returns
21/04/2009	New Board Member Ms N.J. Divers appointed
01/04/2008	Change of Name
01/04/2008	Change in Reg.Office
01/04/2008	Change of Company Postcode

Previous Company Names

No Previous Names found

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Group structure

No group structure

Exact CCJ Details

No CCJs found

Possible CCJs Details

There are no possible CCJ details

Mortgage Details

Mortgage Type:	ALL ASSETS DEBENTURE
Date Charge Created:	29/11/12
Date Charge Registered:	03/12/12
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	LLOYDS TSB COMMERCIAL FINANCE LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY

Mortgage Type:	DEBENTURE
Date Charge Created:	28/04/09
Date Charge Registered:	29/04/09
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	LLOYDS TSB BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY

Mortgage Type:	DEPOSIT AGREEMENT TO SECURE OWN LIABILITIES
Date Charge Created:	29/09/08
Date Charge Registered:	01/10/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	LLOYDS TSB BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ALL SUCH RIGHTS TO THE REPAYMENT OF THEDEPOSIT MEANING THE DEBT(S) ON THE ACCOUNT(S) DESCRIBED IN THE SCHEDULE BEING THE ACCOUNT WITH THE BANK DENOMINATED STERLING IN DESIGNATED LLOYDS TSB RE UNICORNINGREDIENTS LIMITED AND NUMBERED 00242306 AND ANY ACCOUNT(S) FOR THE TIME BEING REPLACING THE SAME AND ALL INTEREST OWING IN RESPECT THEREOF AND ALL DEPOSITS WITH THE BANKS TREASURY DIVISION IN THE NAME OF THE BANK RE THE COMPANY

Creditor Details

No Creditor Data
Total Value	-

Trade Debtors / Bad Debt Detail

No Debtor Data
Total Value	-

Previous Director/Company Secretaries

Average Invoice Value	£241.90
Invoices available	64
Paid	59
Outstanding	5

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.53
UK Pound	1	Rs.101.77
Euro	1	Rs.83.92

INFORMATION DETAILS

Analysis Done by :	RAS
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.