MIRA INFORM REPORT

Report Date :

23.12.2014

IDENTIFICATION DETAILS

Name :	BOURNE INTERNATIONAL LIMITED

Registered Office :	Lower Guildford Road Knaphill Woking Surrey GU21 2EP

Country :	United Kingdom

Financials (as on) :	31.12.2013

Date of Incorporation :	22.05.1985

Com. Reg. No.:	01915984

Legal Form :	Private Limited With Share Capital

Line of Business :	Exporting of building supplies and publicity goods. Other wholesale. Non-specialized wholesale trade.

No. of Employee :	Not 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 – 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

BOURNE INTERNATIONAL LIMITED	Telephone	+44 014 8348 5789
102	Fax	-
LOWER GUILDFORD ROAD KNAPHILL	Website	www.bourne-intl.co.uk
WOKING
SURREY
GU21 2EP
United Kingdom

Company Number:	01915984	Status:	Active - Accounts Filed
Foundation:	22/05/1985

Main indices

Payment experience and credit opinion

Comments

No exact match CCJs are recorded against the company. The audit report contains no adverse comments. The company's credit rating has dropped from 87 to 81 but the company still indicates very good creditworthiness. The credit limit on this company has fallen 39.1% in comparison to the previously suggested credit limit. Net Worth decreased by 3.7% during the latest trading period. A 6.7% decline in Total Assets occurred during the latest trading period. The company saw a decrease in their Cash Balance of 53.7% during the latest trading period. The movement in accumulated earnings would indicate that the company incurred a loss after tax and other appropriations, including dividends. There is insufficient data to indicate a change in this company's percentage of sales. There is insufficient data to indicate a change in this company's pre-tax profit. No recent changes in directorship are recorded. The company is not part of a group. The company was established over 29 years ago.

Basic information

Legal form

Private limited with Share Capital

Foundation

22/05/1985

Company No.

01915984

Previous Names

Date of Change	Previous Name
06/04/1992	JB INTERNATIONAL LTD

Shareholders

Name	Currency	Number of shares	Share type	Nominal value
STEPHEN SIMMONS	GBP	45	ORDINARY A	1
MRS BARBARA MAY PIKE	GBP	5	ORDINARY B	1
Total Share Capital				GBP 50

Management

Directors

Name

Address:

Date of

birth

Nationality

Appointment date

Mr. Stephen Simmons

52 Coresbrook Way, Woking, Surrey GU21 2TP

20/11/1964

British

01/07/1994

Ms. Barbara May Pike

Fuchsias, Coldharbour Lane West End, Woking, Surrey GU24 9QN

06/06/1953

British

01/06/2001

Company Secretary
Name	Address:	Appointment date
Ms. Barbara May Pike	Fuchsias, Coldharbour Lane West End, Woking, Surrey GU24 9QN	01/09/1994

Other Known Addresses

3 Friar House, Copse Road, Woking, Surrey GU21 8ST

Lansbury Estate, 102 Lower Guildford Road, Knaphill, Woking, Surrey GU21 2EP

Business activities

Main activity

Principal Activity	Exporting of building supplies and publicity goods.
SIC03	Other wholesale
SIC07	Non-specialized wholesale trade

Economic data

Turnover and Employees

Date of Accounts	Turnover	Employees
31/12/2011	Not Stated	Not Stated
31/12/2012	Not Stated	Not Stated
31/12/2013	Not Stated	Not Stated

Supplementary data

Banks

Bank Name Bank Branch Sort Code

HSBC BANK PLC

Auditor

Auditor Name

PK AUDIT LLP

RODGERS GUPTA

Events

Company history
Date	Action
23/12/2009	Annual Returns
05/10/2010	New Accounts Filed
05/10/2010	New Accounts Filed
20/11/2010	Annual Returns
30/09/2011	New Accounts Filed
30/09/2011	New Accounts Filed
16/11/2011	Mr P.J. Bourne has left the board
16/11/2011	Mrs R.A. Bourne has left the board
18/11/2011	Annual Returns
17/09/2012	New Accounts Filed
01/12/2012	Annual Returns
02/10/2013	New Accounts Filed
30/11/2013	Annual Returns
03/10/2014	New Accounts Filed
19/11/2014	Annual Returns

Mortgages

Charge created	08/05/1991
Charge registered	11/05/1991
Status	SATISFIED
Entitled person	MIDLAND BANK PLC
Secured amount	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Mortgage detail	FIRST FIXED CHARGE ON ALL BOOK DEBTS AND OTHER DEBTS FLOATING CHARGE ON ALL OTHER UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL

Accounts

Profit & Loss

	31/12/2013 52 GBP Group: No	31/12/2012 52 GBP Group: No	31/12/2011 52 GBP Group: No	31/12/2010 52 GBP Group: No
Turnover	0	0	0	0
Export	-	-	-	-
Cost of Sales	-	-	-	-

	31/12/2013 52 GBP Group: No	31/12/2012 52 GBP Group: No	31/12/2011 52 GBP Group: No	31/12/2010 52 GBP Group: No
Gross Profit	-	-	-	-
Wages And Salaries	0	0	0	0
Directors Emoluments	-	-	-	-
Operating Profit	-	-	-	-
Depreciation	2,500	3,083	2,467	2,435
Audit Fees	-	2,300	2,200	2,100
Interests Payments	-	-	-	-
Pre Tax Profit	0	0	0	0
Taxation	-	-	-	-
Profit After Tax	-	-	-	-
Dividends Payable	-	-	-	-
Retained Profit	-	-	-	-

Balance Sheet

	31/12/2013 52 GBP Group: No	31/12/2012 52 GBP Group: No	31/12/2011 52 GBP Group: No	31/12/2010 52 GBP Group: No
Tangible Assets	3,593	5,003	5,621	4,801
Intangible Assets	0	0	0	0
Total Fixed Assets	3,593	5,003	5,621	4,801
Stock	0	2,423	44,348	20,745
Trade Debtors	465,327	229,876	323,940	275,885
Cash	244,107	527,062	304,943	466,251
Other Debtors	0	0	0	0
Miscellaneous Current Assets	0	0	0	0
Total Current Assets	709,434	759,361	673,231	762,881
Trade Creditors	282,038	317,141	395,550	313,493
Bank Loans and Overdraft	0	0	0	0
Other Short Term Finance	0	0	0	0
Miscellaneous Current Liabilities	0	0	0	0
Total Current Liabilities	282,038	317,141	395,550	313,493
Bank Loans and Overdrafts LTL	288	0	0	0
Other Long Term Finance	0	0	0	0
Total Long Term Liabilities	288	0	0	0

Capital & Reserves

	31/12/2013 52 GBP Group: No	31/12/2012 52 GBP Group: No	31/12/2011 52 GBP Group: No	31/12/2010 52 GBP Group: No
Called Up Share Capital	50	50	50	100
P and L Account Reserve	430,651	447,173	283,252	454,089
Revaluation Reserve	0	0	0	0
Sundry Reserves	0	0	0	0
Shareholders Funds	430,701	447,223	283,302	454,189

Other Financial Items

	31/12/2013 52 GBP Group: No	31/12/2012 52 GBP Group: No	31/12/2011 52 GBP Group: No	31/12/2010 52 GBP Group: No
Net Worth	430,701	447,223	283,302	454,189
Working Capital	427,396	442,220	277,681	449,388
Total Assets	713,027	764,364	678,852	767,682
Total Liabilities	282,326	317,141	395,550	313,493
Net Assets	430,701	447,223	283,302	454,189

Cash Flow

	31/12/2013	31/12/2012	31/12/2011	31/12/2010
	52	52	52	52
	GBP	GBP	GBP	GBP
	Group: No	Group: No	Group: No	Group: No
Net Cash Flow from Operations	0	0	0	0
Net Cash Flow before Financing	0	0	0	0
Net Cash Flow from Financing	0	0	0	0
Increase in Cash	-282,955	222,119	-161,308	-22,832

Miscellaneous

31/12/2013

GBP Group: No

31/12/2012

GBP Group: No

31/12/2011

GBP Group: No

31/12/2010

GBP Group: No

Capital Employed

430,989

447,223

283,302

454,189

Financial Ratios

Name	31/12/2013	31/12/2012	31/12/2011	31/12/2010
Pre Tax Profit Margin	0.0%	0.0%	0.0%	0.0%
Current Ration	2.52	2.39	1.70	2.43
Sales or Net Working Capital	0.00	0.00	0.00	0.00
Gearing	0.07 %	0.00 %	0.00 %	0.00 %
Equity	60.40 %	58.51 %	41.73 %	59.16%
Creditor Days	0.00	0.00	0.00	0.00
Debtor Days	0.00	0.00	0.00	0.00
Liquidity or Acid test	2.51	2.38	1.58	2.36
Return on Capital Employed	0.0%	0.0%	0.0%	0.0%
Return on Total Assets Employed	0.0%	0.0%	0.0%	0.0%
Current Debt Ratio	0.65 %	0.70 %	1.39 %	0.69 %
Total Debt Ratio	0.65 %	0.70 %	1.39 %	0.69 %
Stock Turnover Ratio	0.0%	0.0%	0.0%	0.0%
Return on Net Assets Employed	0.0%	0.0%	0.0%	0.0%

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.17
UK Pound	1	Rs.98.85
Euro	1	Rs.77.42

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	TPT

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.