MIRA INFORM REPORT

Report Date :

15.12.2014

IDENTIFICATION DETAILS

Name :	HYPERAMA PLC

Formerly Known as :	HYPERAMA INTERNATIONAL LIMITED

Registered Office :	Hyperama Buildings, Bull Close Road, Nottingham, Nottinghamshire, Ng7 2ut

Country :	United Kingdom

Financials (as on) :	26.01.2014

Date of Incorporation :	26.11.1991

Com. Reg. No.:	02667340

Legal Form :	Public Limited With Share Capital

Line of Business :	A group engaged in wholesale of groceries, wines and spirits, tobacco and household goods and the importation, development and distribution of ethnic food, including it's own tiger tiger branded products.

No of Employees :	278 (26.01.2014)

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 :	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 – September 30, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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 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 identification

HYPERAMA PLC	Telephone	+44 011 5985 1301
HYPERAMA BUILDINGS	Fax	+44 0115 935 0342
BULL CLOSE ROAD	Website	www.hyperama.com
NOTTINGHAM
NOTTINGHAMSHIRE
NG7 2UT
United Kingdom

Company Number:	02667340	Status:	Active - Accounts Filed
Foundation:	26/11/1991

Comments

No exact match CCJs are recorded against the company. Sales in the latest trading period increased 7.2% on the previous trading period. Net Worth increased by 6.5% during the latest trading period. A 1.7% growth in Total Assets occurred during the latest trading period. Pre-tax profits increased by 111% compared to the previous trading period. The company saw an increase in their Cash Balance of 15.5% during the latest trading period. The audit report contains no adverse comments.

No recent changes in directorship are recorded. The company is part of a group. The company was established over 23 years ago.

Basic information

Legal form

Public limited with Share Capital

Foundation

26/11/1991

Company No.

02667340

Previous Names

Date of Change	Previous Name
28/10/1994	HYPERAMA INTERNATIONAL LIMITED

Shareholders

Name	Currency	Number of shares	Share type	Nominal value
MARK JOHAL FAMILY SETTLEMENT 2008 TRUST	GBP	1,990,000	REDEEMABLE PREFERENCE	1
M.S. JOHAL	GBP	80,763	ORDINARY	1
TRUSTEES OF K.S. KHERA TRUST	GBP	67,997	ORDINARY	1
Total Share Capital				GBP 2,138,760

Management

Directors
Name	Address:	Date of birth	Nationality	Appointment date
Mr Markhan Singh Johal	5 Park Valley, The Park, Nottingham, Nottinghamshire NG7 1BS	05/10/1951	British	26/11/1991
Mr Peter Robert Fairley	20 Burleigh Road, West Bridgford, Nottingham, Nottinghamshire NG2 6FQ	07/10/1968	British	01/05/2005
Mr Marcus Singh	5a Park Valley, Nottingham, Nottinghamshire NG7 1BS	25/12/1979	British	04/02/2009

Company Secretary
Name	Address:	Appointment date
Ms Sharan Kaur	20 Pelham Crescent, The Park, Nottingham, Nottinghamshire NG7 1AW	01/06/2005

Other Known Addresses

Hyperama Buildings, Bull Close Road, Nottingham, Nottinghamshire NG7 2UT Richmond Street, West Bromwich, West Midlands B70 0DD

Business activities

Main activity
Principal Activity	A group engaged in wholesale of groceries, wines and spirits, tobacco and household goods and the importation, development and distribution of ethnic food, including it's own tiger tiger branded products.
SIC03	Non-specialised wholesale food
SIC07	Non-specialised wholesale of food, beverages and tobacco

Economic data

Turnover and Employees

Date of Accounts	Turnover	Employees
29/01/2012	GBP 116,515,000	269
27/01/2013	GBP 115,080,000	269
26/01/2014	GBP 123,330,000	278

Supplementary data

Banks

Bank Name	Bank Branch Sort Code
LLOYDS TSB BANK PLC	30-18-98

Auditor

Auditor name

SMITH COOPER LIMITED

SMITH COOPER LLP

Events

Company history
Date	Action
24/06/2010	New Accounts Filed
24/06/2010	New Accounts Filed
21/12/2010	Annual Returns
22/07/2011	Mr R. Lowe has left the board
25/07/2011	New Accounts Filed
25/07/2011	New Accounts Filed
03/12/2011	Annual Returns
11/06/2012	New Accounts Filed
11/06/2012	New Accounts Filed
01/12/2012	Annual Returns
01/04/2013	Mr A.K. Fletcher has left the board
24/07/2013	New Accounts Filed
24/07/2013	New Accounts Filed
30/11/2013	Annual Returns
23/07/2014	New Accounts Filed
23/07/2014	New Accounts Filed
06/12/2014	Annual Returns

Mortgages

Charge created	23/09/1992
Charge registered	08/10/1992
Status	SATISFIED
Entitled person	NATIONAL WESTMINSTER BANK PLC
Secured amount	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Mortgage detail	A SPECIFIC EQUITABLE CHARGE OVER ALL FREEHOLD AND LEASEHOLD PROPERTIES AND/OR THE PROCEEDS OF SALE THEREOF FIXED AND FLOATING CHARGES OVER UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS AND THE BENEFITS OF ANY LICENCES

Charge created 19/05/1993

Charge registered 03/06/1993

Status SATISFIED

Entitled person LOMBARD NORTH CENTRAL PLC

Secured amount ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE

ON ANY ACCOUNT WHATSOEVER

Mortgage detail LAND AND BUILDINGS ON THE EAST SIDE OF BULL CLOSE ROAD NOTTINGHAM

TOGETHER WITH ALL FIXTURES FLOATING CHARGE OVER ALL MOVEABLE

PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT

Charge created 19/05/1993

Charge registered 25/05/1993

Status SATISFIED

Entitled person NATIONAL WESTMINSTER BANK PLC

Secured amount ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE

ON ANY ACCOUNT WHATSOEVER

Mortgage detail 7.87 ACRES OF LAND AT BULL CLOSE

ROAD,NOTTINGHAM, NOTTINGHAMSHIRE.TITLE NUMBER NT267470 AND THE PROCEEDS OF SALE THEREOF FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT

Charge created 09/11/2000

Charge registered 10/11/2000

Status SATISFIED

Entitled person LOMBARD NORTH CENTRAL PLC

Secured amount ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE

ON ANY ACCOUNT WHATSOEVER

Mortgage detail PALLET RACKING IDENTIFIED AS ”JK1143” ON THE COMPANY ASSET REGISTER,

FREEZER IDENTIFIED AS ”JK1138” ON THE COMPANY ASSET REGISTER

Charge created 23/01/2001

Charge registered 26/01/2001

Status SATISFIED

Entitled person LLOYDS TSB BANK PLC

Secured amount ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE

CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail HYPERAMA BUILDINGS,BULLCLOSE RD,LENTON LANE INDUSTRIAL

ESTATE, NOTTINGHAM; NT267470 TOGETHER WITH ALL BUILDINGS AND FIXTURES (INCLUDING TRADE FIXTURES) FIXED PLANT AND MACHINERY BY WAY OF FIXED CHARGE ALL PRESENT AND FUTURE BOOK AND OTHER DEBTS FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT BY WAY OF ASSIGNMENT THE GOODWILL OF THE BUSINESS (IF ANY) THE FULL BENEFIT OF ALL LICENCES AND ALL GUARANTEES

Charge created 23/01/2001

Charge registered 26/01/2001

Status SATISFIED

Entitled person LLOYDS TSB BANK PLC

Secured amount ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE

CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Charge created 01/12/2003

Charge registered 05/12/2003

Status OUTSTANDING

Entitled person LLOYDS TSB COMMERCIAL FINANCE LIMITED

Secured amount ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE

CHARGEE UNDER THE TERMSOF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Mortgage detail A FIXED CHARGE BY WAY OF LEGAL MORTGAGEON ALL AND ANY

FREEHOLD AND LEASEHOLD PROPERTY NOW VESTED IN THE COMPANY TOGETHER WITH ALL FIXTURES AND FITTINGS (INCLUDING TRADE FIXTURES AND FITTINGS) AND FIXED PLANT AND MACHINERY FROM TIME TO TIME THEREIN AND THEREON THE GOODWILL AND UNPAID AND/OR UNCALLED CAPITAL AND/OR ALLOHER FREEHOLD AND LEASEHOLD PROPERTY HEREAFTER VESTED FROM TIME TO TIME IN THE FUTURE OF THE COMPANY ALL STOCKS SHARES AND SECURITIES

AND DOCUMENTS EVIDENCING TITLE OR RIGHT TO POSSESSION OF ANY PROPERTY DEPOSIED WITH LLOYDS TSB COMMERCIALFINANCE LIMITED THE BOOK DEBTS AND OTHER DEBTS BOTH PRESENT AND FUTURE A FLOATING CHARGE ON ALL THE UNDERTAKING AND ALLTHE PROPERTY RIGHTS AND ASSETS OF THE COMPANY WHATSOEVER AND WHERESOEVER BOTH PRESENT AND FUTURE

Charge created 04/02/2004

Charge registered 09/02/2004

Status OUTSTANDING

Entitled person AIB GROUP (UK) PLC

Secured amount ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail LAND ON THE EAST SIDE OF BULL CLOSE ROAD NOTTINGHAM T/N NT267470 BY WAY OF SPECIFIC CHARGE THE GOODWILLAND CONNECTION OF THE BUSINESS OR BUSINESSES AND ALSO BY WAY OF FLOATING SECURITY ALL MOVEABLE PLANT MACHINERY IMPLEMENTS FURNITURE EQUIPMENT STOCKIN- TRADE WORK IN PROGRESS AND OTHER CHATTELS

Charge created 04/02/2004

Charge registered 09/02/2004

Status OUTSTANDING

Entitled person AIB GROUP (UK) PLC

Secured amount ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE

CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL

PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Charge created 01/07/2005

Charge registered 14/07/2005

Status OUTSTANDING

Entitled person NATIONWIDE BUILDING SOCIETY

Secured amount ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE

CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail F/H PROPERTY K/A LAND AND BUILDINGS ON THE WEST SIDE OF

STOREYS BAR ROAD, PETERBOROUGH T/NO. CB183740 TOGETHER WITH ALL BUILDINGS FIXTURES (INCLUDING TRADE FIXTURES) FIXED PLANT AND MACHINERY THEREON THE GOODWILL OF ANY BUSINESS CARRIED ON AT THE PROPERTY THE BENEFIT OF ANY LICENCES AND REGISTRATIONS REQUIRED IN THE RUNNING OF SUCH BUSINESS

Charge created 09/02/2011

Charge registered 10/02/2011

Status OUTSTANDING

Entitled person LLOYDS TSB BANK PLC

Secured amount ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE

CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Mortgage detail 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 IN STERLING DESIGNATED LTSB RE: HYPERAMA PLC AND NUMBERED 00982723 AND ANY ACCOUNT(S) FOR THE TIME BEING REPLACING THE SAMEAND ALL INTEREST OWING IN RESPECT THEREOF AND ALL DEPOSITS WITH THE BANKS TREASURY DIVISION IN THE NAME OF THE BANK RE THE COMPANY

County Court Judgments

(CCJs)

There are no County Court Judgments listed against this company

Profit & Loss

	26/01/2014 56 GBP Group: Yes	27/01/2013 56 GBP Group: Yes	29/01/2012 56 GBP Group: Yes	30/01/2011 56 GBP Group: Yes
Turnover	123,330,000	115,080,000	116,515,000	111,463,000
Export	-	-	-	0
Cost of Sales	110,724,000	103,426,000	102,978,000	98,208,000
Gross Profit	12,606,000	11,654,000	13,537,000	13,255,000
Wages And Salaries	5,123,000	4,806,000	5,022,000	4,649,000
Directors Emoluments	163,000	167,000	333,000	369,000
Operating Profit	1,172,000	859,000	1,774,000	2,088,000
Depreciation	506,000	504,000	517,000	616,000
Audit Fees	18,000	18,000	18,000	19,000
Interests Payments	253,000	362,000	371,000	354,000
Pre Tax Profit	922,000	437,000	1,403,000	1,734,000
Taxation	-201,000	-60,000	-340,000	-505,000
Profit After Tax	721,000	377,000	1,063,000	1,229,000
Dividends Payable	0	0	0	0
Retained Profit	721,000	377,000	1,063,000	1,229,000

Balance Sheet

	26/01/2014 56 GBP Group: Yes	27/01/2013 56 GBP Group: Yes	29/01/2012 56 GBP Group: Yes	30/01/2011 56 GBP Group: Yes
Tangible Assets	11,978,000	12,130,000	14,609,000	14,431,000
Intangible Assets	100,000	118,000	137,000	140,000
Total Fixed Assets	12,078,000	12,248,000	14,746,000	14,571,000
Stock	13,088,000	12,715,000	12,474,000	11,754,000
Trade Debtors	6,386,000	6,207,000	5,313,000	6,040,000
Cash	1,272,000	1,101,000	1,103,000	1,069,000
Other Debtors	1,509,000	1,502,000	1,411,000	1,277,000
Miscellaneous Current Assets	0	0	0	0
Total Current Assets	22,255,000	21,525,000	20,301,000	20,140,000
Trade Creditors	10,413,000	10,441,000	8,869,000	9,341,000
Bank Loans and Overdraft	1,834,000	1,722,000	2,375,000	2,230,000
Other Short Term Finance	4,017,000	3,939,000	4,300,000	4,218,000
Miscellaneous Current Liabilities	2,710,000	2,291,000	1,670,000	1,897,000
Total Current Liabilities	18,974,000	18,393,000	17,214,000	17,686,000
Bank Loans and Overdrafts LTL	4,984,000	5,614,000	9,097,000	9,207,000
Other Long Term Finance	23,000	63,000	998,000	268,000
Total Long Term Liabilities	3,150,000	3,892,000	6,722,000	6,977,000

Capital & Reserves

	26/01/2014 56 GBP Group: Yes	27/01/2013 56 GBP Group: Yes	29/01/2012 56 GBP Group: Yes	30/01/2011 56 GBP Group: Yes
Called Up Share Capital	2,139,000	2,139,000	2,139,000	2,139,000
P and L Account Reserve	4,442,000	3,721,000	3,344,000	2,281,000
Revaluation Reserve	5,472,000	5,472,000	5,472,000	5,472,000
Sundry Reserves	156,000	156,000	156,000	156,000
Shareholders Funds	12,209,000	11,488,000	11,111,000	10,048,000

Other Financial Items

	26/01/2014 56 GBP Group: Yes	27/01/2013 56 GBP Group: Yes	29/01/2012 56 GBP Group: Yes	30/01/2011 56 GBP Group: Yes
Net Worth	12,109,000	11,370,000	10,974,000	9,908,000
Working Capital	3,281,000	3,132,000	3,087,000	2,454,000
Total Assets	34,333,000	33,773,000	35,047,000	34,711,000
Total Liabilities	22,124,000	22,285,000	23,936,000	24,663,000
Net Assets	12,209,000	11,488,000	11,111,000	10,048,000

Cash Flow

	26/01/2014 56 GBP Group: Yes	27/01/2013 56 GBP Group: Yes	29/01/2012 56 GBP Group: Yes	30/01/2011 56 GBP Group: Yes
Net Cash Flow from Operations	1,370,000	2,841,000	1,450,000	1,403,000
Net Cash Flow before Financing	814,000	3,762,000	-54,000	-166,000
Net Cash Flow from Financing	-830,000	-3,284,000	7,000	-1,034,000
Increase in Cash	171,000	-2,000	34,000	-64,000

Miscellaneous

	26/01/2014	27/01/2013	29/01/2012	30/01/2011
	56	56	56	56
	GBP	GBP	GBP	GBP
	Group: Yes	Group: Yes	Group: Yes	Group: Yes
Capital employed	15,359,000	15,380,000	17,833,000	17,025,000

Financial Ratios

Name	26/01/2014	27/01/2013	29/01/2012	30/01/2011
Pre Tax Profit Margin	0.75 %	0.38 %	1.20 %	1.56%
Current Ration	1.17	1.17	1.18	1.14
Sales or Net Working Capital	37.59	36.74	37.74	45.42
Gearing	40.82 %	48.87 %	81.87 %	91.63%
Equity	35.66 %	34.13%	31.83 %	29.06 %
Creditor Days	30.73	33.02	27.70	30.50
Debtor Days	18.84	19.63	16.59	19.72
Liquidity or Acid test	0.48	0.47	0.45	0.47
Return on Capital Employed	6.00 %	2.84 %	7.86 %	10.18%
Return on Total Assets Employed	2.68 %	1.29 %	4.00 %	4.99 %
Current Debt Ratio	1.55 %	1.60 %	1.54 %	1.76%
Total Debt Ratio	1.81 %	1.93 %	2.15%	2.45 %
Stock Turnover Ratio	10.61 %	11.04 %	10.70%	10.54%
Return on Net Assets Employed	7.55 %	3.80 %	12.62%	17.25%

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.44
UK Pound	1	Rs.98.15
Euro	1	Rs.77.38

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	MNL

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.