MIRA INFORM REPORT

Report Date :

07.07.2014

IDENTIFICATION DETAILS

Name :	CHARLES BENTLEY & SON LIMITED
Formerly Known As :	F.A.B. HANDLES LIMITED
Registered Office :	1 Monarch Way Loughborough Leicester LE11 5XG
Country :	United Kingdom
Financials (as on) :	31.03.2013
Date of Incorporation :	16.01.1979
Com. Reg. No.:	01409627
Legal Form :	Private limited with Share Capital
Line of Business :	· Non-Specialised Wholesale Trade · Dealing in brushware and other related products.
No. of Employees	120

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 – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
United Kingdom	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	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 name and address

Company Name CHARLES BENTLEY & SON LIMITED

Company Number: 01409627

Company Summary

Registered Address

1 MONARCH WAY
LOUGHBOROUGH
LEICESTER
LE11 5XG

Trading Address

Central House
1 Monarch Way
Loughborough
Leicestershire
LE11 5XG

Website Address http://www.bentleybrushware.co.uk

Telephone Number 01509232757

Fax Number -

TPS No

FPS No

Incorporation Date 16/01/1979

Previous Name F.A.B. HANDLES LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 15/09/2005

Filing Date of Accounts 21/12/2013

Currency GBP

Share Capital £2

SIC07 46900

Charity Number -

SIC07 Description NON-SPECIALISED WHOLESALE TRADE

Principal Activity Dealing in brushware and other related products.

DIRECTORS/MANAGEMENT

Total Current Directors	2
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	3

Current Directors

Name	Charles William Bentley	Date of Birth	01/10/1953
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	31/12/1990
Address	1 Monarch Way, Loughborough, Leicester, LE11 5XG
Other Actions	View Director Report	View Consumer Report

Name			Shirley Jayne Bentley		Date of Birth	02/12/1957
Officers Title			Ms		Nationality	British
Present Appointments			2		Function	Director
Appointment Date			29/11/2007
Address			1 Monarch Way, Loughborough, Leicester, LE11 5XG
Other Actions			View Director Report		View Consumer Report
Disqualified					Disqualified End Date
Disqualification Exception			No
	Disqualified			Disqualified End Date
	Disqualification Exception	No

Current Company Secretary

Name	Shirley Jayne Bentley	Date of Birth	02/12/1957
Officers Title	Ms	Nationality	British
Present Appointments	2	Function	Company Secretary
Appointment Date	24/11/2004
Address	1 Monarch Way, Loughborough, Leicester, LE11 5XG
Other Actions		View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Raymond Bentley	0	4
Charles William Bentley	2	2
Robert Glyn Bentley	0	3

NEGATIVE INFORMATION

CCJ

Total Number of Exact CCJs -	1	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

Date	Court	Amount	Status	Case Number	Date Paid
04/12/2008	LEICESTER	£317	Judgement	8LE04928	-

Exact CCJ Details

Date	Court	Amount	Status	Case Number	Date Paid
04/12/2008	LEICESTER	£317	Judgement	8LE04928	-

Possible CCJs Details

There are no possible CCJ details

Writ Details

No writs found

Mortgage Details

Mortgage Type:	CHATTEL MORTGAGE
Date Charge Created:	05/01/09
Date Charge Registered:	21/01/09
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	CHARLES WILLIAM BENTLEY AND SHIRLEY BENTLEY AS TRUSTEES FOR THE CHARLES BENTLEY SELF-ADMINISTER
Amount Secured:	£190,000.00 DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE
Details:	SCHELESINGER VPBFK2/E3.TR 5198 1997,COMPACTOR/BALER STATIC REFUSE COMPACTOR, 3 X FORK LIFT TRUCKS (FOR FURTHER DETAILS OF CHATTELS CHARGED PLEASE REFER TO FORM395)

Mortgage Type:	LEGAL CHARGE
Date Charge Created:	14/10/05
Date Charge Registered:	18/10/05
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	1 MONARCH WAY BELTON ROAD TRADING ESTATE LOUGHBOROUGH LEICESTERSHIRE BY WAY OF FIXED CHARGE THE BENEFIT OF ALL COVENANTS AND RIGHTS CONCERNING THE PROPERTY AND PLANT MACHINERY FIXTURES FITTINGS FURNITURE EQUIPMENT IMPLEMENTS AND UTENSILS THE GOODWILL OF ANY BUSINESS CARRIED ON AT THE PROPERTY AND THE PROCEEDS OF ANY INSURANCE AFFECTING THE PROPERTY OR ASSETS

Mortgage Type:	MORTGAGE DEBENTURE
Date Charge Created:	08/11/95
Date Charge Registered:	13/11/95
Date Charge Satisfied:	-
Status:	PARTIAL PROPERTY RELEASE
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	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

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value
SHIRLEY JAYNE BENTLEY	GBP	2	ORDINARY	0.5
CHARLES WILLIAM BENTLEY	GBP	2	ORDINARY	0.5

Unable to report percentage holdings as filed Shareholder listing is not full.

PAYMENT INFORMATION

Trade Payment Information

Average Invoice Value	1308.04
Invoices available	167
Paid	161
Outstanding	6

Average Invoice Value	£1308.04
Invoices available	167
Paid	161
Outstanding	6

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

	Within Terms	0-30 Days	31-60 Days	61-90 Days	91+ Days
Paid	32	46	64	12	7
Outstanding	0	0	4	0	2

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

Trade Debtors / Bad Debt Detail

	Total Number of Documented Trade	Total Value of Documented Trade
Trade Debtors	8	£15,720

Company Name	Amount	Statement Date
Hit And Run Fashions Ltd	£3,648	14/10/2011
M T L Management & Solutions Ltd	£3,078	06/10/2011
Specials (North East) Limited	£2,868	19/07/2011
Elasons & Asna Houseware Ltd	£2,500	01/03/2011
Pound Centre + Ltd	£1,644	22/02/2012
W M Granger & Son (Leicester) Limited	£1,605	16/12/2011
Trading Experts Ltd	£259	13/06/2011
Tools And Equipment Ltd	£118	10/04/2014

Creditor Details

	Total Number	Total Value
Trade Creditors	0	-

No Creditor Data

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade: 8

Total Value of Documented Trade: £15,720

Profit & Loss

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£22,182,945	2.6%	£21,619,504	7.4%	£20,132,110	5%	£19,165,603	-0.4%	£19,235,259
Export	£21,673,392	999.9%	£1,115,763	-	-	-	-	-	-
Cost of Sales	£14,760,840	2.1%	£14,460,361	6.1%	£13,630,154	-	-	-	-
Gross Profit	£7,422,105	3.7%	£7,159,143	10.1%	£6,501,956	-	-	-	-
Wages & Salaries	£2,441,156	2.5%	£2,380,736	7.1%	£2,221,993	-12.1%	£2,527,053	-2.5%	£2,591,753
Directors Emoluments	£19,945	-	£19,945	-3.8%	£20,739	-86.2%	£150,000	-	£150,000
Operating Profit	£1,232,757	17.2%	£1,051,649	21.6%	£864,534	-43.4%	£1,527,702	102.4%	£754,896
Depreciation	£208,570	18.3%	£176,360	-2.4%	£180,692	-4%	£188,250	0.8%	£186,723
Audit Fees	£15,000	-	£15,000	-	£15,000	-26.8%	£20,500	-	£20,500
Interest Payments	£196,664	8.6%	£181,132	4%	£174,133	-4.6%	£182,482	-49.1%	£358,221
Pre Tax Profit	£1,036,093	19%	£870,517	26.1%	£690,401	-46.5%	£1,290,625	225.4%	£396,675
Taxation	-£250,833	-7.9%	-£232,432	13.1%	-£267,482	41.6%	-£458,117	-433.8%	-£85,819
Profit After Tax	£785,260	23.1%	£638,085	50.9%	£422,919	-49.2%	£832,508	167.8%	£310,856
Dividends Payable	-	-	-	-	-	-100%	£300,000	-	-
Retained Profit	£785,260	23.1%	£638,085	50.9%	£422,919	-20.6%	£532,508	71.3%	£310,856

Balance Sheet

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
Tangible Assets	£3,414,461	-1.6%	£3,470,522	2.2%	£3,396,342	-2.8%	£3,495,173	-5%	£3,677,306
Intangible Assets	0	-	0	-	0	-100%	£45,468	-66.7%	£136,404
Total Fixed Assets	£3,414,461	-1.6%	£3,470,522	2.2%	£3,396,342	-4.1%	£3,540,641	-7.2%	£3,813,710
Stock	£3,474,042	-11.1%	£3,905,860	36.6%	£2,860,216	20.1%	£2,381,416	-5.9%	£2,531,095
Trade Debtors	£3,675,593	-2.8%	£3,781,066	-2.4%	£3,872,947	-0.1%	£3,877,850	13.8%	£3,406,212
Cash	£7,070	-92.1%	£89,444	999.9%	£2,661	-28.2%	£3,706	6.6%	£3,475
Other Debtors	£1,413,362	8.6%	£1,301,030	-0.4%	£1,306,696	-28.9%	£1,836,987	4.4%	£1,759,023
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£8,570,067	-5.6%	£9,077,400	12.9%	£8,042,520	-0.7%	£8,099,959	5.2%	£7,699,805
Trade Creditors	£975,951	-36.7%	£1,542,171	46.2%	£1,055,146	-13.3%	£1,217,140	-14.6%	£1,425,808
Bank Loans & Overdrafts	£2,151,749	-40.4%	£3,611,409	12.1%	£3,222,128	10%	£2,929,277	-13.9%	£3,400,870
Other Short Term Finance	£283,244	-37.4%	£452,432	-20.4%	£568,467	-28%	£789,524	64.1%	£481,041
Miscellaneous Current Liabilities	£1,433,270	-13.4%	£1,655,464	4.3%	£1,587,749	0.1%	£1,586,391	29.9%	£1,221,057
Total Current Liabilities	£4,844,214	-33.3%	£7,261,476	12.9%	£6,433,490	-1.4%	£6,522,332	-0.1%	£6,528,776
Bank Loans & Overdrafts and LTL	£5,053,663	-7.2%	£5,444,715	0.6%	£5,412,445	-4.3%	£5,655,409	-13.3%	£6,525,981
Other Long Term Finance	£31,538	8.2%	£29,160	157.7%	£11,314	-91.2%	£127,903	-28%	£177,627
Total Long Term Liabilities	£2,901,914	58.3%	£1,833,306	-16.3%	£2,190,317	-19.7%	£2,726,132	-12.8%	£3,125,111

Capital & Reserves

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
Called Up Share Capital	£2	-	£2	-	£2	-	£2	-	£2
P & L Account Reserve	£4,238,398	22.7%	£3,453,138	22.7%	£2,815,053	17.7%	£2,392,134	28.6%	£1,859,626
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£4,238,400	22.7%	£3,453,140	22.7%	£2,815,055	17.7%	£2,392,136	28.6%	£1,859,628

Other Financial Items

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
Net Worth	£4,238,400	22.7%	£3,453,140	22.7%	£2,815,055	20%	£2,346,668	36.2%	£1,723,224
Working Capital	£3,725,853	105.2%	£1,815,924	12.9%	£1,609,030	2%	£1,577,627	34.7%	£1,171,029
Total Assets	£11,984,528	-4.5%	£12,547,922	9.7%	£11,438,862	-1.7%	£11,640,600	1.1%	£11,513,515
Total Liabilities	£7,746,128	-14.8%	£9,094,782	5.5%	£8,623,807	-6.8%	£9,248,464	-4.2%	£9,653,887
Net Assets	£4,238,400	22.7%	£3,453,140	22.7%	£2,815,055	17.7%	£2,392,136	28.6%	£1,859,628

Cash Flow

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
Net Cashflow from Operations	£866,751	8.5%	£798,710	-6.3%	£852,768	-50.2%	£1,712,579	207.2%	£557,543
Net Cashflow before Financing	£349,455	72.2%	£202,959	9.3%	£185,636	-80.2%	£938,778	404.4%	-£308,356
Net Cashflow from Financing	£551,269	314.3%	-£257,284	46.1%	-£477,142	-1.4%	-£470,463	-721.7%	£75,671
Increase in Cash	£900,724	999.9%	-£54,325	81.4%	-£291,506	-162.2%	£468,315	301.3%	-£232,685

Miscellaneous

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£7,140,314	35.1%	£5,286,446	5.6%	£5,005,372	-2.2%	£5,118,268	2.7%	£4,984,739
Number of Employees	120	-0.8%	121	9%	111	-7.5%	120	-2.4%	123
Auditors	BAKER TILLY AUDIT LIMITED
Auditor Comments	The audit report contains no adverse comments
Bankers	NATIONAL WESTMINSTER BANK PLC
Bank Branch Code	60-14-10

Ratios

Date Of Accounts	31/03/13	31/03/12	31/03/11	31/03/10	31/03/09
Pre-tax profit margin %	4.67	4.03	3.43	6.73	2.06
Current ratio	1.77	1.25	1.25	1.24	1.18
Sales/Net Working Capital	5.95	11.91	12.51	12.15	16.43
Gearing %	119.20	157.70	192.30	236.40	350.90
Equity in %	35.40	27.50	24.60	20.60	16.30
Creditor Days	16.01	25.96	19.07	23.11	26.98
Debtor Days	60.31	63.66	70.02	73.64	64.45
Liquidity/Acid Test	1.05	0.71	0.80	0.87	0.79
Return On Capital Employed %	14.51	16.46	13.79	25.21	7.95
Return On Total Assets Employed %	8.64	6.93	6.03	11.08	3.44
Current Debt Ratio	1.14	2.10	2.28	2.72	3.51
Total Debt Ratio	1.82	2.63	3.06	3.86	5.19
Stock Turnover Ratio %	15.66	18.06	14.20	12.42	13.15
Return on Net Assets Employed %	24.44	25.20	24.52	53.95	21.33

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Enquiries Trend

There have been 147 enquiries in the last 12 months.

There are an average of 12 reports taken each month.

	3 MONTHS	6 MONTHS	9 MONTHS
Enquiries	15	39	112

Status History

No Status History found

Event History

Date	Description
13/01/2014	Annual Returns
07/01/2014	New Accounts Filed
07/01/2014	New Accounts Filed
23/02/2013	New Accounts Filed
23/02/2013	New Accounts Filed
25/01/2013	Annual Returns
19/04/2012	Change of Company Postcode
27/03/2012	New Accounts Filed
27/03/2012	New Accounts Filed
01/02/2012	Annual Returns
31/01/2012	Change of Company Postcode
07/06/2011	New Accounts Filed
07/06/2011	New Accounts Filed
28/05/2011	Annual Returns
17/02/2010	Annual Returns

Previous Company Names

Date	Previous Name
15/09/2005	F.A.B. HANDLES LIMITED

NOTES & COMMENTS

Commentary

CCJ recorded against the company.

Sales in the latest trading period increased 2.6% on the previous trading period.

Net Worth increased by 22.7% during the latest trading period.

A 4.5% decline in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 19% compared to the previous trading period.

The company saw a decrease in their Cash Balance of 92.1% 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 has changed its registered address recently.

The company was established over 34 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.79
UK Pound	1	Rs.102.66
Euro	1	Rs.81.32

INFORMATION DETAILS

Analysis Done by :	SUM
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%)

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.