MIRA INFORM REPORT

Report Date :

30.12.2014

IDENTIFICATION DETAILS

Name :	CARTER BROTHERS (ROCHDALE) LIMITED
Registered Office :	28 Acorn Mill Lees, Oldham, Ol4 3dh
Country :	United Kingdom
Financials (as on) :	30.10.2013
Date of Incorporation :	24.04.2009
Com. Reg. No.:	06886640
Legal Form :	Private Limited With Share Capital
Line of Business :	· Engaged in manufacturing of rubber and Plastic Internal Mixing Machinery. · Engaged as Manufacturer of Other Special Purpose Machine · Engaged as Manufacturer of Plastics and Rubber Machinery
No of Employees :	Not Available [We tried to confirm the number of employees but no one is ready to part any information from the company management.]

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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 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

CARTER BROTHERS (ROCHDALE) LIMITED	Telephone	+44 (0)1706 638 301
28 ACORN MILL LEES	Fax	+44 (0)1706 526 569
OLDHAM	E-Mail :	info@cb-mixing.com
OL4 3DH	Website	www.cb-mixing.com
United Kingdom
Operating Address
Fieldhouse Industrial Estate, Rochdale, Lancashire, England OL12 OAA

Company Number:	06886640	Status:	Active - Accounts Filed
Foundation:	24/04/2009

Comments

No exact match CCJs are recorded against the company. A 74.9% growth in Total Assets occurred during the latest trading period.

Net Worth decreased by 239.1% 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.

The company is exempt from audit. No recent changes in directorship are recorded. The company is not part of a group. The company was established over 5 years ago.

CARTER BROTHERS (ROCHDALE) LIMITED Company No.: 06886640

Legal form

Private limited with Share Capital

Foundation

24/04/2009

Company No.

06886640

Shareholders

Name	Currency	Number of	Share type	Nominal value
		shares
DEBBIE HARGREAVES	GBP	1	ORDINARY	1

Total Share Capital GBP 1

Management

Directors

Name	Address:	Date of birth	Nationality	Appointment date
Mr Peter Jonathon Fletcher	38 George Street, Rutherford Park, Rochdale, Lancashire OL16 2RR	12/12/1974	British	21/09/2009
Ms Debbie Anne Hargreaves	28 Acorn Mill Mellor Street, Lees, Oldham, Lancashire OL4 3DH	27/10/1980	British	24/04/2009

Company Secretary

Name	Address:	Appointment date
Ms Debbie Anne Hargreaves	28 Acorn Mill Mellor Street, Lees, Oldham, Lancashire OL4 3DH	24/04/2009

Business activities

Main activity
Principal Activity	Engaged in manufacturing of rubber and Plastic Internal Mixing Machinery.
SIC03	Manufacture other special purpose machine
SIC07	Manufacture of plastics and rubber machinery

Economic data

Turnover and Employees

Date of Accounts	Turnover	Employees
30/04/2011	Not Stated	Not Stated
30/04/2012	Not Stated	Not Stated
30/10/2013	Not Stated	Not Stated

Supplementary data

Events

Company history
Date	Action
22/05/2010	Annual Returns
31/03/2011	New Accounts Filed
31/08/2011	Annual Returns
10/02/2012	New Accounts Filed
14/07/2012	Annual Returns
08/02/2013	New Accounts Filed
08/02/2013	New Accounts Filed
12/06/2013	Annual Returns
10/05/2014	Annual Returns
16/08/2014	New Accounts Filed

Mortgages
Charge created	02/05/2014
Charge registered	06/05/2014
Status	SATISFIED
Entitled person	SINGLE INVOICE FINANCE LIMITED;
Mortgage detail	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.

Charge created	08/07/2014
Charge registered	09/07/2014
Status	OUTSTANDING
Entitled person	BARCLAYS BANK PLC;
Mortgage detail	CONTAINS FIXED CHARGE.

County Court Judgments (CCJs)

There are no County Court Judgments listed against this company

Accounts

Profit & Loss

	30/10/2013 78 GBP Group: No	30/04/2012 52 GBP Group: No	30/04/2011 52 GBP Group: No	30/04/2010 52 GBP Group: No
Turnover	0	0	0	53,147
Export	-	-	-	53,147
Cost of Sales	-	-	-	40,900
Gross Profit	-	-	-	12,247
Wages And Salaries	0	0	0	8,500
Directors Emoluments	-	-	-	0
Operating Profit	-	-	-	-
Depreciation	15,782	0	0	0
Audit Fees	0	0	0	0
Interests Payments	-	-	-	0
Pre Tax Profit	0	0	0	10,844
Taxation	-	-	-	-2,447
Profit After Tax	-	-	-	8,397
Dividends Payable	-	-	-	0
Retained Profit	-	-	-	8,397

OTHERS (ROCHDALE) LIMITED Company No.: Balance Sheet

	30/10/2013 78 GBP Group: No	30/04/2012 52 GBP Group: No	30/04/2011 52 GBP Group: No	30/04/2010 52 GBP Group: No
Tangible Assets	277,796	0	0	0
Intangible Assets	0	0	0	0
Total Fixed Assets	277,796	0	0	0
Stock	40,000	0	0	0
Trade Debtors	308,274	409,224	137,802	0
Cash	89,494	0	0	0
Other Debtors	0	0	0	21,248
Miscellaneous Current Assets	0	0	0	0
Total Current Assets	437,768	409,224	137,802	21,248
Trade Creditors	706,920	316,897	97,086	0
Bank Loans and Overdraft	0	0	0	0
Other Short Term Finance	0	0	0	9,403
Miscellaneous Current Liabilities	0	0	0	3,447
Total Current Liabilities	706,920	316,897	97,086	12,850
Bank Loans and Overdrafts LTL	137,051	0	0	0
Other Long Term Finance	0	0	0	0
Total Long Term Liabilities	137,051	0	0	0

Capital & Reserves

	30/10/2013	30/04/2012	30/04/2011	30/04/2010
	78	52	52	52
	GBP	GBP	GBP	GBP
	Group: No	Group: No	Group: No	Group: No
Called Up Share Capital	1	1	1	1
P and L Account Reserve	-128,408	92,326	40,715	8,397
Revaluation Reserve	0	0	0	0
Sundry Reserves	0	0	0	0
Shareholders Funds	-128,407	92,327	40,716	8,398

Other Financial Items

	30/10/2013 78 GBP Group: No	30/04/2012 52 GBP Group: No	30/04/2011 52 GBP Group: No	30/04/2010 52 GBP Group: No
Net Worth	-128,407	92,327	40,716	8,398
Working Capital	-269,152	92,327	40,716	8,398
Total Assets	715,564	409,224	137,802	21,248
Total Liabilities	843,971	316,897	97,086	12,850
Net Assets	-128,407	92,327	40,716	8,398

Cash Flow

	30/10/2013	30/04/2012	30/04/2011	30/04/2010
	78	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	89,494	0	0	0

Miscellaneous

	30/10/2013	30/04/2012	30/04/2011	30/04/2010
	78	52	52	52
	GBP	GBP	GBP	GBP
	Group: No	Group: No	Group: No	Group: No
Capital Employed	8,644	92,327	40,716	8,398

Financial Ratios

Name	30/10/2013			30/04/2012	30/04/2011		30/04/2010
Pre Tax Profit Margin	0.0%			0.0%	0.0%		20.40 %
Current Ration	0.62			1.29	1.42		1.65
Sales or Net Working Capital	0.00			0.00	0.00		6.33
Gearing	-106.73 %			0.00 %	0.00 %		0.00 %
Equity	-17.94 %			22.56 %	29.55 %		39.52 %
Creditor Days	0.00			0.00	0.00		0.00
Debtor Days	0.00			0.00	0.00		0.00
Liquidity or Acid test	0.56			1.29	1.41		1.65
Return on Capital Employed	0.0%			0.0%	0.0%		129.12%
Return on Total Assets Employed	0.0%			0.0%	0.0%		51.03%
Current Debt Ratio	-5.50 %			3.43 %	2.38 %		1.53%
Total Debt Ratio		-6.57 %	3.43 %			2.38 %	1.53%
Stock Turnover Ratio		0.0%	0.0%			0.0%	0.0%
Return on Net Assets Employed		0.0%	0.0%			0.0%	129.12%

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.65
UK Pound	1	Rs.99.14
Euro	1	Rs.77.60

INFORMATION DETAILS

Analysis Done by :	DIV
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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