MIRA INFORM REPORT

Report Date :

06.02.2014

IDENTIFICATION DETAILS

Name :	STATUS INTERNATIONAL (UK) LTD
Formerly Known As :	STATUSEXPERT LIMITED
Registered Office :	Pennine House Mortimer Street Cleckheaton BD19 5AR
Country :	United Kingdom
Financials (as on) :	31.07.2012
Date of Incorporation :	22.11.1990
Com. Reg. No.:	02561562
Legal Form :	Private limited with Share Capital
Line of Business :	· Wholesale of household goods (other than musical instruments) · Sale of electrical products
No. of Employees :	60

RATING & COMMENTS

MIRA’s Rating :

Ba

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, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
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 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

Company Name	STATUS INTERNATIONAL (UK) LTD	Company Number	02561562
Registered Address	PENNINE HOUSE MORTIMER STREET CLECKHEATON BD19 5AR	Trading Address	Pennine House Mortimer Street Cleckheaton West Yorkshire BD19 5AR
Website Address	http://www.statusinternationaluk.co.uk
Telephone Number	01274852200
TPS	No
Incorporation Date	22/11/1990	Company Status	Active - Accounts Filed
Previous Name	STATUSEXPERT LIMITED	Type	Private limited with Share Capital
Date of Change	02/04/1998	Filing Date of Accounts	16/04/2013
		Share Capital	£100,000
SIC03	5147	Currency	GBP
SIC03 Description	Wholesale of other household goods
SIC07	46499
SIC07 Description	WHOLESALE OF HOUSEHOLD GOODS (OTHER THAN MUSICAL INSTRUMENTS) N.E.C.
Principal Activity	The sale of electrical products.

DIRECTORS/MANAGEMENT

Total Current Directors	5
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	0

Current Directors

Name	Nicholas John McVeigh	Date of Birth	12/01/1967
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Director
Appointment Date	22/11/1991
Address	15 The Coppice, Gomersal, Cleckheaton, West Yorkshire, BD19 4QA
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Peter Barre McVeigh	Date of Birth	24/02/1938
Officers Title	Mr	Nationality	British
Present Appointments	5	Function	Director
Appointment Date	22/11/1991
Address	45 Batley Field Hill, Batley, West Yorkshire, WF17 0AY
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	John Barry Hudson	Date of Birth	18/10/1946
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	02/08/2004
Address	45 Spring Bank Drive, Norristhorpe, Liversedge, West Yorkshire, WF15 7QS
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Jonathan Mark Sheard	Date of Birth	09/02/1971
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	02/08/2004
Address	12a Cliffe Mount, Gomersal, West Yorkshire, BD19 4SD
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Andrew Myatt	Date of Birth	17/04/1969
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	02/08/2004
Address	The Barn House Mutton Pitts, Paw Lane Queensbury, Bradford, Yorkshire, BD13 2LB
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

NEGATIVE INFORMATION

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

Outstanding	3
Satisfied	4

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
NICHOLAS JOHN MCVEIGH	GBP	49,999	ORDINARY	1	50
MR PETER BARRE MCVEIGH	GBP	50,001	ORDINARY	1	50

PAYMENT INFORMATION

Payment Information Summary

Days Beyond Terms

Trend Indicator

8	15
Company DBT	UK Average DBT

Steady

Improving Worsening

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group structure

No group structure

FINANCIAL INFORMATION

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/07/2012	£26,394,641	£3,721,785	£12,225,004	60
31/07/2011	£29,747,163	£2,849,712	£9,654,085	54
31/07/2010	£24,352,628	£2,737,763	£7,988,374	53

Profit & Loss

	Date Of Accounts	31/07/12	(%)	31/07/11	(%)	31/07/10	(%)	31/07/09	(%)	31/07/08
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
	Turnover	£26,394,641	-11.3%	£29,747,163	22.2%	£24,352,628	45.4%	£16,745,192	3.5%	£16,172,242
	Export	£502,701	-	-	-	-	-	-	-	-
	Cost of Sales	£18,652,655	-20.8%	£23,563,967	25%	£18,855,059	35.2%	£13,945,129	6.6%	£13,085,536
	Gross Profit	£7,741,986	25.2%	£6,183,196	12.5%	£5,497,569	96.3%	£2,800,063	-9.3%	£3,086,706
	Wages & Salaries	£1,952,745	39.4%	£1,400,524	10.2%	£1,270,677	16.8%	£1,087,903	-22.4%	£1,401,771
	Directors Emoluments	£792,495	92.3%	£412,160	-15.7%	£489,161	39.6%	£350,367	-44.5%	£631,810
	Operating Profit	£3,875,588	29.5%	£2,993,593	2.3%	£2,927,586	156%	£1,143,562	29.5%	£883,098
	Depreciation	£179,806	50.7%	£119,285	-0.1%	£119,454	20%	£99,541	-4.1%	£103,790
	Audit Fees	£10,000	-	£10,000	-16.7%	£12,000	4.3%	£11,500	6.8%	£10,770
	Interest Payments	£153,803	6.9%	£143,881	-24.2%	£189,823	15.7%	£164,083	8.7%	£150,973
	Pre Tax Profit	£3,721,785	30.6%	£2,849,712	4.1%	£2,737,763	179.5%	£979,479	33.8%	£732,125
	Taxation	-£950,866	-21.3%	-£784,002	-1.3%	-£774,000	-197.1%	-£260,515	-19.6%	-£217,862
	Profit After Tax	£2,770,919	34.1%	£2,065,710	5.2%	£1,963,763	173.1%	£718,964	39.8%	£514,263
	Dividends Payable	£200,000	-50%	£400,000	-20%	£500,000	66.7%	£300,000	-	-
	Retained Profit	£2,570,919	54.3%	£1,665,710	13.8%	£1,463,763	249.4%	£418,964	-18.5%	£514,263

Balance Sheet

	Date Of Accounts	31/07/12	(%)	31/07/11	(%)	31/07/10	(%)	31/07/09	(%)	31/07/08
	Tangible Assets	£4,123,074	-0.5%	£4,142,636	56.7%	£2,643,513	-0.9%	£2,667,313	-1.7%	£2,712,811
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£4,123,074	-0.5%	£4,142,636	56.7%	£2,643,513	-0.9%	£2,667,313	-1.7%	£2,712,811
	Stock	£12,421,622	0.3%	£12,383,508	55.7%	£7,950,988	-3.1%	£8,209,345	24.2%	£6,607,527
	Trade Debtors	£3,675,306	35.7%	£2,708,029	-21%	£3,429,111	36.6%	£2,509,735	17.8%	£2,131,351
	Cash	£253	33.2%	£190	5%	£181	-14.2%	£211	-	0
	Other Debtors	£189,645	-44.1%	£339,291	-40.6%	£571,487	-29.1%	£806,516	150.4%	£322,093
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£16,286,826	5.5%	£15,431,018	29.1%	£11,951,767	3.7%	£11,525,807	27.2%	£9,060,971
	Trade Creditors	£1,940,906	-21.7%	£2,477,232	20.2%	£2,060,085	-22.1%	£2,644,910	79.6%	£1,472,967
	Bank Loans & Overdrafts	£3,048,792	-23.4%	£3,982,223	258%	£1,112,271	-58.8%	£2,702,841	50.3%	£1,798,285
	Other Short Term Finance	£1,445	-	0	-100%	£205,888	-31.4%	£300,311	999.9%	£10,728
	Miscellaneous Current Liabilities	£1,696,978	-2%	£1,732,088	-18.2%	£2,117,493	155.7%	£828,081	-23.9%	£1,088,122
	Total Current Liabilities	£6,688,121	-18.4%	£8,191,543	49.1%	£5,495,737	-15.1%	£6,476,143	48.2%	£4,370,102
	Bank Loans & Overdrafts and LTL	£4,545,567	-20.4%	£5,710,249	156.8%	£2,223,440	-42.9%	£3,895,207	25.8%	£3,096,318
	Other Long Term Finance	£1,077	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£1,496,775	-13.4%	£1,728,026	55.5%	£1,111,169	-6.8%	£1,192,366	-8.1%	£1,298,033

Capital & Reserves

	Date Of Accounts	31/07/12	(%)	31/07/11	(%)	31/07/10	(%)	31/07/09	(%)	31/07/08
	Called Up Share Capital	£100,000	-	£100,000	-	£100,000	-	£100,000	-	£100,000
	P & L Account Reserve	£12,125,004	26.9%	£9,554,085	21.1%	£7,888,374	22.8%	£6,424,611	7%	£6,005,647
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£12,225,004	26.6%	£9,654,085	20.9%	£7,988,374	22.4%	£6,524,611	6.9%	£6,105,647

Other Financial Items

	Date Of Accounts	31/07/12	(%)	31/07/11	(%)	31/07/10	(%)	31/07/09	(%)	31/07/08
	Net Worth	£12,225,004	26.6%	£9,654,085	20.9%	£7,988,374	22.4%	£6,524,611	6.9%	£6,105,647
	Working Capital	£9,598,705	32.6%	£7,239,475	12.1%	£6,456,030	27.9%	£5,049,664	7.6%	£4,690,869
	Total Assets	£20,409,900	4.3%	£19,573,654	34.1%	£14,595,280	2.8%	£14,193,120	20.5%	£11,773,782
	Total Liabilities	£8,184,896	-17.5%	£9,919,569	50.1%	£6,606,906	-13.8%	£7,668,509	35.3%	£5,668,135
	Net Assets	£12,225,004	26.6%	£9,654,085	20.9%	£7,988,374	22.4%	£6,524,611	6.9%	£6,105,647

Cash Flow

	Date Of Accounts	31/07/12	(%)	31/07/11	(%)	31/07/10	(%)	31/07/09	(%)	31/07/08
	Net Cashflow from Operations	£2,456,879	999.9%	-£91,126	-103.3%	£2,725,528	999.9%	-£62,400	91%	-£695,622
	Net Cashflow before Financing	£1,158,758	133.4%	-£3,469,409	-308.2%	£1,666,736	310.1%	-£793,389	38.8%	-£1,296,093
	Net Cashflow from Financing	-£225,264	-131%	£727,762	999.9%	-£45,138	59.3%	-£110,956	2.6%	-£113,908
	Increase in Cash	£933,494	134%	-£2,741,647	-269.1%	£1,621,598	279.3%	-£904,345	35.9%	-£1,410,001

Miscellaneous

	Date Of Accounts	31/07/12	(%)	31/07/11	(%)	31/07/10	(%)	31/07/09	(%)	31/07/08
	Contingent Liability	YES	-	YES	-	YES	-	NO	-	NO
	Capital Employed	£13,721,779	20.6%	£11,382,111	25.1%	£9,099,543	17.9%	£7,716,977	4.2%	£7,403,680
	Number of Employees	60	11.1%	54	1.9%	53	8.2%	49	-2%	50
	Auditors	MAZARS LLP
	Auditor Comments	The audit report contains no adverse comments
	Bankers	HSBC BANK PLC
	Bank Branch Code	40-25-10

Ratios

	Date Of Accounts	31/07/12	31/07/11	31/07/10	31/07/09	31/07/08
	Pre-tax profit margin %	14.10	9.58	11.24	5.85	4.53
	Current ratio	2.44	1.88	2.17	1.78	2.07
	Sales/Net Working Capital	2.75	4.11	3.77	3.32	3.45
	Gearing %	37.20	59.10	27.80	59.70	50.70
	Equity in %	59.90	49.30	54.70	46	51.90
	Creditor Days	26.76	30.31	30.79	57.49	33.15
	Debtor Days	50.68	33.13	51.25	54.55	47.97
	Liquidity/Acid Test	0.57	0.37	0.72	0.51	0.56
	Return On Capital Employed %	27.12	25.03	30.08	12.69	9.88
	Return On Total Assets Employed %	18.23	14.55	18.75	6.90	6.21
	Current Debt Ratio	0.54	0.84	0.68	0.99	0.71
	Total Debt Ratio	0.66	1.02	0.82	1.17	0.92
	Stock Turnover Ratio %	47.06	41.62	32.64	49.02	40.85
	Return on Net Assets Employed %	30.44	29.51	34.27	15.01	11.99

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade Debtors / Bad Debt -	9
Total Value of Documented Trade Debtors / Bad Debt -	£14,127

Current Company Secretary

Name	Nicholas John McVeigh	Date of Birth	12/01/1967
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Company Secretary
Appointment Date	22/11/1991
Address	15 The Coppice, Gomersal, Cleckheaton, West Yorkshire, BD19 4QA

Status History

No Status History found

Event History

Date	Description
18/11/2013	Annual Returns
27/04/2013	New Accounts Filed
27/04/2013	New Accounts Filed
14/11/2012	Annual Returns
21/11/2011	Annual Returns
19/11/2011	New Accounts Filed
19/11/2011	New Accounts Filed
10/03/2011	New Accounts Filed
19/11/2010	Annual Returns
11/02/2010	New Accounts Filed
11/02/2010	New Accounts Filed
29/12/2009	Annual Returns
23/11/2009	Annual Returns
04/01/2009	New Accounts Filed
14/11/2008	Annual Returns

Previous Company Names

Date	Previous Name
02/04/1998	STATUSEXPERT LIMITED

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.
There has been no significant change in the company's credit rating.
Sales in the latest trading period decreased 11.3% on the previous trading period.
Net Worth increased by 26.6% during the latest trading period.
A 4.3% growth in Total Assets occurred during the latest trading period.
Pre-tax profits increased by 30.6% compared to the previous trading period.
The company saw an increase in their Cash Balance of 33.2% 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 22 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.45
UK Pound	1	Rs.102.01
Euro	1	Rs.84.35

INFORMATION DETAILS

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.