MIRA INFORM REPORT

Report Date :

04.02.2014

IDENTIFICATION DETAILS

Name :	K.T.C. (EDIBLES) LIMITED
Registered Office :	JS House Moorcroft Drive, Moorcroft Park, Wednesbury, WS10 7DE
Country :	United Kingdom
Financials (as on) :	31.12.2012
Date of Incorporation :	29.06.1979
Com. Reg. No.:	01433723
Legal Form :	Private limited with Share Capital
Line of Business :	· Manufacture of crude oils and fats · Processing and dealing with foods items.
No. of Employees :	220

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 :	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.

UNITED KINGDOM - ECONOMIC OVERVIEW

The UK, a leading trading power and financial center, is the second largest economy in Europe after Germany. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. 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, account by far for the largest proportion of GDP while industry continues to decline in importance. 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. Sharply declining 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 include 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 over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of 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 up to £375 billion (approximately $605 billion) as of December 2012. 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. GDP fell 0.1%, and the budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued to increase.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Summary – Company Information

Company Name	K.T.C. (EDIBLES) LIMITED	Company Number	01433723
Registered Address	JS HOUSE MOORCROFT DRIVE MOORCROFT PARK WEDNESBURY WS10 7DE	Trading Address	J S House Moorcroft Drive Wednesbury West Midlands WS10 7DE
Website Address	http://www.ktc-edibles.co.uk
Telephone Number	01215059200
TPS	No
Incorporation Date	29/06/1979	Company Status	Active - Accounts Filed
Previous Name		Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	13/09/2013
		Share Capital	£222,222
SIC03	1541	Currency	GBP
SIC03 Description	Manufacture of crude oils and fats
SIC07	10410
SIC07 Description	MANUFACTURE OF OILS AND FATS
Principal Activity	Processing and dealing with foods items.

DIRECTORS/MANAGEMENT

Directors

Total Current Directors	4
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	4

Current Directors

Name	Santokh Singh Khera	Date of Birth	10/06/1948
Officers Title	Mr	Nationality	British
Present Appointments	6	Function	Director
Appointment Date	21/03/1991
Address	17 Jesson Road, Walsall, West Midlands, WS1 3AY
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Sukhjinder Singh Khera	Date of Birth	05/06/1950
Officers Title	Mr	Nationality	Indian
Present Appointments	9	Function	Director
Appointment Date	23/09/1993
Address	18 Gorway Road, Walsall, West Midlands, WS1 3BG
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Michael William Baldrey	Date of Birth	13/03/1947
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Director
Appointment Date	21/03/1991
Address	The White House, Burcot, Bromsgrove, West Midlands, B60 1PP
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Paresh Kumar Mehta	Date of Birth	04/02/1972
Officers Title	Mr	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	14/01/2011
Address	118 Thornhill Park, Sutton Coldfield, West Midlands, B74 2LW
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	Bhima Godhania	Date of Birth	20/12/1951
Officers Title		Nationality	British
Present Appointments	6	Function	Company Secretary
Appointment Date	21/03/1991
Address	5 Don Close, Edgbaston, Birmingham, B15 3PN

NEGATIVE INFORMATION

CCJ

Total Number of Exact CCJs -	1	Total Value of Exact CCJs -	£108
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

Date	Court	Amount	Status	Case Number	Date Paid
08/07/2008	NORTHAMPTON CCBC	£108	Judgement	8XJ81170	-

Possible CCJ Details

There are no possible CCJ details

Writ Details

There are no writ details

Mortgage Summary

Outstanding	6
Satisfied	19

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MR SANTOKH SINGH KHERA	GBP	90,000	ORDINARY	1	40.5
MR SUKHJINDER SINGH KHERA	GBP	70,000	ORDINARY	1	31.5
PARESH KUMAR MEHTA	GBP	22,222	ORDINARY	1	10
MICHAEL WILLIAM BALDREY	GBP	20,000	ORDINARY	1	9
RAMINDER KHERA	GBP	20,000	ORDINARY	1	9

PAYMENT INFORMATION

Summary – Payment History

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/12/2012	£227,057,292	£768,214	£8,964,474	220
31/12/2011	£228,289,976	£736,281	£8,589,946	223
31/12/2010	£188,289,071	£529,751	£8,156,767	196

Payment Information Summary

Days Beyond Terms

Trend Indicator

                         Average Payment Experience  

23	15
Company DBT	UK Average DBT

Steady

Improving Worsening

31 - 60 Days.

Within Terms 91+ Days

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade Debtors / Bad Debt -	24
Total Value of Documented Trade Debtors / Bad Debt -	£194,300

GROUP STRUCTURE & AFFILIATED COMPANIES

Group Structure

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group structure

No group structure

FINANCIAL INFORMATION

Financials

Profit & Loss

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£227,057,292	-0.5%	£228,289,976	21.2%	£188,289,071	15.8%	£162,586,754	-10.9%	£182,549,336
Export	£6,327,844	-2.8%	£6,511,995	33.8%	£4,865,609	5.7%	£4,601,920	19.6%	£3,847,851
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages & Salaries	£4,365,285	2.2%	£4,270,808	11.2%	£3,841,366	17.9%	£3,257,253	22.3%	£2,664,141
Directors Emoluments	£330,071	-21.1%	£418,415	33.1%	£314,411	9.4%	£287,402	-8.3%	£313,275
Operating Profit	£1,540,512	-6.8%	£1,652,815	21%	£1,366,416	6.7%	£1,280,177	-47.2%	£2,426,489
Depreciation	£1,201,520	1.1%	£1,188,153	0.9%	£1,177,658	0.5%	£1,171,218	-8%	£1,273,267
Audit Fees	£21,000	-	£21,000	-	£21,000	-	£21,000	-	£21,000
Interest Payments	£772,298	-15.7%	£916,534	9.5%	£836,665	8.4%	£772,162	-54.3%	£1,690,741
Pre Tax Profit	£768,214	4.3%	£736,281	39%	£529,751	4.3%	£508,015	-31%	£735,748
Taxation	-£154,498	10.5%	-£172,530	-54.2%	-£111,886	10.6%	-£125,111	54.8%	-£276,961
Profit After Tax	£613,716	8.9%	£563,751	34.9%	£417,865	9.1%	£382,904	-16.5%	£458,787
Dividends Payable	£239,188	83.2%	£130,572	999.9%	£11,325	-61.7%	£29,600	-	-
Retained Profit	£374,528	-13.5%	£433,179	6.6%	£406,540	15.1%	£353,304	-23%	£458,787

Balance Sheet

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Tangible Assets	£12,868,681	-2.1%	£13,143,863	-2.6%	£13,499,570	-0.1%	£13,518,912	-4.3%	£14,124,413
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£12,868,681	-2.1%	£13,143,863	-2.6%	£13,499,570	-0.1%	£13,518,912	-4.3%	£14,124,413
Stock	£11,798,595	-3.4%	£12,211,193	-8.4%	£13,336,701	23%	£10,842,577	-7.8%	£11,764,212
Trade Debtors	£32,260,596	-1.8%	£32,842,288	-4.2%	£34,273,934	18.8%	£28,838,647	-7.6%	£31,200,186
Cash	£144,473	17%	£123,488	-39.1%	£202,749	168.7%	£75,457	-70.7%	£257,836
Other Debtors	£1,033,385	1%	£1,023,357	27%	£805,502	18.1%	£682,074	-25.1%	£910,512
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£45,237,049	-2.1%	£46,200,326	-5%	£48,618,886	20.2%	£40,438,755	-8.4%	£44,132,746
Trade Creditors	£16,772,607	-1.7%	£17,061,415	-2.1%	£17,418,925	32%	£13,198,435	-17.5%	£16,002,709
Bank Loans & Overdrafts	£28,497,786	-1.4%	£28,894,843	-6.6%	£30,952,396	13.7%	£27,223,757	-1.7%	£27,683,563
Other Short Term Finance	£301,687	-62.3%	£799,226	-24.7%	£1,061,963	12.8%	£941,214	-0.3%	£944,338
Miscellaneous Current Liabilities	£1,314,798	2.4%	£1,284,078	-0.2%	£1,286,414	41%	£912,609	-39.2%	£1,500,830
Total Current Liabilities	£46,886,878	-2.4%	£48,039,562	-5.3%	£50,719,698	20%	£42,276,015	-8.4%	£46,131,440
Bank Loans & Overdrafts and LTL	£30,752,164	-2.7%	£31,609,524	-7.6%	£34,194,387	9.8%	£31,155,182	-3.9%	£32,434,581
Other Long Term Finance	£303,171	-44.8%	£549,547	-39.5%	£909,056	-36.3%	£1,428,029	-37%	£2,266,935
Total Long Term Liabilities	£2,254,378	-17%	£2,714,681	-16.3%	£3,241,991	-17.5%	£3,931,425	-17.3%	£4,751,018

Capital & Reserves

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Called Up Share Capital	£222,222	-	£222,222	-	£222,222	-	£222,222	11.1%	£200,000
P & L Account Reserve	£6,381,602	6.7%	£5,980,943	8.3%	£5,521,633	8.5%	£5,088,962	9.5%	£4,645,770
Revaluation Reserve	£2,350,644	-1.1%	£2,376,775	-1.1%	£2,402,906	-1.1%	£2,429,037	-3.6%	£2,518,925
Sundry Reserves	£10,006	-	£10,006	-	£10,006	-	£10,006	-	£10,006
Shareholder Funds	£8,964,474	4.4%	£8,589,946	5.3%	£8,156,767	5.2%	£7,750,227	5.1%	£7,374,701

Other Financial Items

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Net Worth	£8,964,474	4.4%	£8,589,946	5.3%	£8,156,767	5.2%	£7,750,227	5.1%	£7,374,701
Working Capital	-£1,649,829	10.3%	-£1,839,236	12.5%	-£2,100,812	-14.3%	-£1,837,260	8.1%	-£1,998,694
Total Assets	£58,105,730	-2.1%	£59,344,189	-4.5%	£62,118,456	15.1%	£53,957,667	-7.4%	£58,257,159
Total Liabilities	£49,141,256	-3.2%	£50,754,243	-5.9%	£53,961,689	16.8%	£46,207,440	-9.2%	£50,882,458
Net Assets	£8,964,474	4.4%	£8,589,946	5.3%	£8,156,767	5.2%	£7,750,227	5.1%	£7,374,701

Cash Flow

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Net Cashflow from Operations	£3,452,826	-27.4%	£4,754,389	742.1%	-£740,443	-130%	£2,467,614	214.3%	-£2,158,983
Net Cashflow before Financing	£1,340,268	-59.3%	£3,295,571	242.5%	-£2,313,108	-284.2%	£1,256,022	142.4%	-£2,961,236
Net Cashflow from Financing	-£1,588,893	3.7%	-£1,650,612	-180.6%	-£588,236	23%	-£764,357	-15.7%	-£660,564
Increase in Cash	-£248,625	-115.1%	£1,644,959	156.7%	-£2,901,344	-690.1%	£491,665	113.6%	-£3,621,800

Miscellaneous

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Contingent Liability	YES	-	YES	-	YES	-	YES	-	YES
Capital Employed	£11,218,852	-0.8%	£11,304,627	-0.8%	£11,398,758	-2.4%	£11,681,652	-3.7%	£12,125,719
Number of Employees	220	-1.3%	223	13.8%	196	18.8%	165	21.3%	136
Auditors	BDO LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	HSBC BANK PLC
Bank Branch Code	40-46-13

Ratios

Date Of Accounts	31/12/12	31/12/11	31/12/10	31/12/09	31/12/08
Pre-tax profit margin %	0.34	0.32	0.28	0.31	0.40
Current ratio	0.96	0.96	0.96	0.96	0.96
Sales/Net Working Capital	-137.62	-124.12	-89.63	-88.49	-91.33
Gearing %	343	368	419.20	402	439.80
Equity in %	15.40	14.50	13.10	14.40	12.70
Creditor Days	26.88	27.20	33.67	29.54	31.90
Debtor Days	51.71	52.36	66.25	64.56	62.21
Liquidity/Acid Test	0.71	0.70	0.69	0.70	0.70
Return On Capital Employed %	6.84	6.51	4.64	4.34	6.06
Return On Total Assets Employed %	1.32	1.24	0.85	0.94	1.26
Current Debt Ratio	5.23	5.59	6.21	5.45	6.25
Total Debt Ratio	5.48	5.90	6.61	5.96	6.89
Stock Turnover Ratio %	5.19	5.34	7.08	6.66	6.44
Return on Net Assets Employed %	8.56	8.57	6.49	6.55	9.97

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Commentary

CCJ recorded against the company.

Sales in the latest trading period decreased 0.5% on the previous trading period.

Net Worth increased by 4.4% during the latest trading period.

A 2.1% decline in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 4.3% compared to the previous trading period.

The company saw an increase in their Cash Balance of 17% 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 34 years ago.

Event History

Status History

No Status History found

Event History

Date	Description
24/09/2013	New Accounts Filed
24/09/2013	New Accounts Filed
24/09/2013	New Accounts Filed
27/03/2013	Annual Returns
24/09/2012	New Accounts Filed
24/09/2012	New Accounts Filed
26/03/2012	Annual Returns
11/08/2011	Mr M.G. Booth has left the board
01/08/2011	New Accounts Filed
01/08/2011	New Accounts Filed
09/04/2011	Annual Returns
21/01/2011	New Board Member Mr P.K. Mehta appointed
04/08/2010	New Accounts Filed
20/07/2010	New Accounts Filed
27/04/2010	Annual Returns

Previous Company Names

No Previous Names found

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.69
UK Pound	1	Rs.102.97
Euro	1	Rs.84.58

INFORMATION DETAILS

Report Prepared by :

NNA

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.