MIRA INFORM REPORT

Report Date :

25.07.2014

IDENTIFICATION DETAILS

Name :	UNION COLOURS LIMITED

Registered Office :	Union House Hempshaw Lane Stockport Cheshire SK1 4LG

Country :	United Kingdom

Financials (as on) :	31.12.2012

Date of Incorporation :	09.10.2003

Com. Reg. No.:	04927813

Legal Form :	Private limited with Share Capital

Line of Business :	Wholesale of chemical products

No. of Employees	14

RATING & COMMENTS

MIRA’s Rating :

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 – March 31, 2014

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

United Kingdom

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:	UNION COLOURS LIMITED
Company Number:	04927813

Registered Address	UNION HOUSE HEMPSHAW LANE	Trading Address	Union House Hempshaw Lane
	STOCKPORT		Stockport
	CHESHIRE		Cheshire
	SK1 4LG		SK1 4LG
		Website Address	http://www.unioncolours.co.uk
Fax Number		Telephone Number	01614757200
FPS	No	TPS	No
		Incorporate Date	09/10/2003
Type	Private limited with Share Capital	Date of Change	-
FTSE Index	--	Currency	GBP
SIC07	46750	Filing Date of Accounts	27/09/2013
Principal Activity	WHOLESALE OF CHEMICAL PRODUCTS	Share Capital	£10,000
Wholesale Chemical dye products

DIRECTORS/MANAGEMENT

Current Directors

Name	Hongbo Rui	Date of Birth	19/04/1970
Officers Title		Nationality	Chinese
Present Appointments	1	Function	Director
Appointment Date	02/01/2004
Address	Union House Hempshaw Lane, Stockport, Cheshire, SK1 4LG
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Bo Zhu	Date of Birth	09/09/1974
Officers Title		Nationality	British
Present Appointments	1	Function	Director
Appointment Date	01/03/2010
Address	Union House Hempshaw Lane, Stockport, Cheshire, SK1 4LG
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Phillip Ian Myles	Date of Birth	21/04/1968
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	07/04/2010
Address	Union House Hempshaw Lane, Stockport, Cheshire, SK1 4LG
Other Actions	View Director Report	View Consumer Report

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Nicola Jane Myles	0	1
DUPORT DIRECTOR LIMITED	244	34173
DUPORT SECRETARY LIMITED	451	34606

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

No CCJs found

Possible CCJs Details

There are no possible CCJ details

Writ Details

No writs found

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
SINCOL CORP.	GBP	5,000	ORDINARY	1	50
LONGYU PIGMENT & CHEMICAL CO LTD	GBP	5,000	ORDINARY	1	50

PAYMENT INFORMATION

Mortgage Summary

Total Mortgage	3
Summary	1
Satisfied	2

Trade debtors / Bad debts Summary

Total Number of Documented Trade	1
Total Value of Documented Trade	£6,899

Trade Payment Information

Average Invoice Value	N/a
Invoices available	N/a
Paid	N/a
Outstanding	N/a

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

Enquiries Trend

There have been 22 enquiries in the last 12 months.

There are an average of 2 reports taken each month.

	3 MONTHS	6 MONTHS	9 MONTHS
Enquiries	10	12	15

Mortgage Details

Mortgage Type:	DEBENTURE
Date Charge Created:	29/04/10
Date Charge Registered:	06/05/10
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	FORTIS COMMERCIAL FINANCE LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY SEE IMAGEFOR FULL DETAILS

Mortgage Type:	COMPOSITE ALL ASSETS GUARANTEE AND DEBENTURE
Date Charge Created:	03/03/08
Date Charge Registered:	11/03/08
Date Charge Satisfied:	30/04/10
Status:	SATISFIED
Person(s) Entitled:	GE COMMERCIAL FINANCE LIMITED (THE SECURITY HOLDER)
Amount Secured:
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY. SEE IMAGEFOR FULL DETAILS

Mortgage Type:	DEBENTURE
Date Charge Created:	31/05/06
Date Charge Registered:	06/06/06
Date Charge Satisfied:	21/04/10
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Creditor Details

	Total Number	Total Value
Trade Creditors	0	-

No Creditor Data

Trade Debtors / Bad Debt Detail

	Total Number of Documented Trade	Total Value of Documented Trade
Trade Debtors	1	£6,899

Company Name	Amount	Statement Date
D & D Dispersions Limited	£6,899	23/07/2010

	Within Terms	0-30 Days	31-60 Days	61-90 Days	91+ Days
Paid
Outstanding

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	1 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	UNION COLOURS LIMITED

Group structure

Company Name		Registered Number	Latest Key Financials	Consol. Accounts	Turnover
UNION COLOURS LIMITED		04927813	31.12.2012	N	£19,142,697

FINANCIAL INFORMATION

Key Financials
Year to date	Turnover	Pre Tax Profit	Shareholders	Funds Employee
31/12/2012	£19,142,697	-£159,602	-£1,564,456	14
31/12/2011	£17,868,527	-£83,753	-£1,404,854	13
31/12/2010	£17,110,275	-£72,309	-£1,321,101	12

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	£19,142,697	7.1%	£17,868,527	4.4%	£17,110,275	-	-	-	£8,275,778
Export	-	-	-	-	-	-	-	-	£7,961,143
Cost of Sales	-	-	-	-	-	-	-	-100%	£7,311,837
Gross Profit	-	-	-	-	-	-	£1,528,098	58.5%	£963,941
Wages & Salaries	£552,323	5%	£525,830	14.6%	£458,935	10.2%	£416,418	11.1%	£374,865
Directors Emoluments	£151,999	3.3%	£147,081	37.4%	£107,080	-	-	-	-
Operating Profit	-£159,614	-90.6%	-£83,756	-15.8%	-£72,316	-121.6%	£334,259	143.3%	-£772,231
Depreciation	£22,680	27.1%	£17,839	1.2%	£17,635	45.4%	£12,126	74.9%	£6,935
Audit Fees	£10,580	-	£10,580	1.2%	£10,450	-33.7%	£15,750	57.5%	£10,000
Interest Payments	-	-	-	-	-	-	-	-100%	£51
Pre Tax Profit	-£159,602	-90.6%	-£83,753	-15.8%	-£72,309	-121.6%	£334,277	143.3%	-£772,245
Taxation	-	-	-	-	-	100%	-£5	-	-
Profit After Tax	-£159,602	-90.6%	-£83,753	-15.8%	-£72,309	-121.6%	£334,272	143.3%	-£772,245
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-£159,602	-90.6%	-£83,753	-15.8%	-£72,309	-121.6%	£334,272	143.3%	-£772,245

Balance Sheet

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Tangible Assets	£40,300	1%	£39,912	-19.4%	£49,512	-24.5%	£65,561	355.8%	£14,383
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£40,300	1%	£39,912	-19.4%	£49,512	-24.5%	£65,561	355.8%	£14,383
Stock	£1,650,967	-33%	£2,462,778	36%	£1,811,148	-23.9%	£2,380,505	30.7%	£1,821,037
Trade Debtors	£5,312,139	50.1%	£3,539,364	-28.7%	£4,962,638	56.9%	£3,162,424	11.4%	£2,839,249
Cash	£456,493	747.8%	£53,844	-84.3%	£343,968	-0.5%	£345,660	999.9%	£29,971
Other Debtors	£190,353	146.6%	£77,193	-28.8%	£108,350	85.4%	£58,448	116.5%	£27,001
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£7,609,952	24.1%	£6,133,179	-15.1%	£7,226,104	21.5%	£5,947,037	26.1%	£4,717,258
Trade Creditors	£800,252	20.1%	£666,069	144%	£272,930	32%	£206,719	999.9%	£17,355
Bank Loans & Overdrafts	0	-100%	£785,312	-7.2%	£846,449	-	0	-100%	£100,622
Other Short Term Finance	£8,353,901	37.2%	£6,090,605	-18.1%	£7,434,578	6.4%	£6,989,192	13.4%	£6,165,692
Miscellaneous Current Liabilities	£60,555	68.4%	£35,959	-15.9%	£42,760	-34.7%	£65,479	111%	£31,036
Total Current Liabilities	£9,214,708	21.6%	£7,577,945	-11.9%	£8,596,717	18.4%	£7,261,390	15%	£6,314,705
Bank Loans & Overdrafts and LTL	0	-100%	£785,312	-7.2%	£846,449	-	0	-100%	£100,622
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	0	-	0	-	0	-	0	-	0

Capital & Reserves

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Called Up Share Capital	£10,000	-	£10,000	-	£10,000	-	£10,000	-	£10,000
P & L Account Reserve	-£1,574,456	-11.3%	-£1,414,854	-6.3%	-£1,331,101	-5.7%	-£1,258,792	21%	-£1,593,064
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	-£1,564,456	-11.4%	-£1,404,854	-6.3%	-£1,321,101	-5.8%	-£1,248,792	21.1%	-£1,583,064

Other Financial Items

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Net Worth	-£1,564,456	-11.4%	-£1,404,854	-6.3%	-£1,321,101	-5.8%	-£1,248,792	21.1%	-£1,583,064
Working Capital	-£1,604,756	-11.1%	-£1,444,766	-5.4%	-£1,370,613	-4.3%	-£1,314,353	17.7%	-£1,597,447
Total Assets	£7,650,252	23.9%	£6,173,091	-15.2%	£7,275,616	21%	£6,012,598	27.1%	£4,731,641
Total Liabilities	£9,214,708	21.6%	£7,577,945	-11.9%	£8,596,717	18.4%	£7,261,390	15%	£6,314,705
Net Assets	-£1,564,456	-11.4%	-£1,404,854	-6.3%	-£1,321,101	-5.8%	-£1,248,792	21.1%	-£1,583,064

Cash Flow

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Net Cashflow from Operations	£1,211,017	648.7%	-£220,708	73.9%	-£846,600	-274.7%	£484,608	999.9%	£5,271
Net Cashflow before Financing	£1,187,961	618.8%	-£228,987	73%	-£848,141	-303.7%	£416,311	999.9%	£346
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	£1,187,961	618.8%	-£228,987	73%	-£848,141	-303.7%	£416,311	999.9%	£346

Miscellaneous

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	-£1,564,456	-11.4%	-£1,404,854	-6.3%	-£1,321,101	-5.8%	-£1,248,792	21.1%	-£1,583,064

Ratios

Date Of Accounts	31/12/12	31/12/11	31/12/10	31/12/09	31/12/08
Pre-tax profit margin %	-0.83	-0.47	-0.42	-	-9.33
Current ratio	0.83	0.81	0.84	0.82	0.75
Sales/Net Working Capital	-11.93	-12.37	-12.48	-	-5.18
Gearing %	0	-55.90	-64.10	0	-6.40
Equity in %	-20.40	-22.80	-18.20	-20.80	-33.50
Creditor Days	15.21	13.56	5.80	-	0.76
Debtor Days	101.01	72.10	105.57	-	124.88
Liquidity/Acid Test	0.64	0.48	0.62	0.49	0.45
Return On Capital Employed %	10.20	5.96	5.47	-26.76	48.78
Return On Total Assets Employed %	-2.08	-1.35	-0.99	5.55	-16.32
Current Debt Ratio	-5.89	-5.39	-6.50	-5.81	-3.98
Total Debt Ratio	-5.89	-5.39	-6.50	-5.81	-3.98
Stock Turnover Ratio %	8.62	13.78	10.58	-	22
Return on Net Assets Employed %	10.20	5.96	5.47	-26.76	48.78

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Current Company Secretary

Name	Bo Zhu	Date of Birth	09/09/1974
Officers Title		Nationality	Chinese
Present Appointments	2	Function	Company Secretary
Appointment Date	17/12/2003
Address	Union House Hempshaw Lane, Stockport, Cheshire, SK1 4LG

Number of Employees	14	7.7%	13	8.3%	12	9.1%	11	37.5%	8
Auditors	MILNER BOARDMAN LIMITED
Auditor Comments	The audit report contains no adverse comments
Bankers
Bank Branch Code

Status History

No Status History found

Event History

Date	Description
15/10/2013	Annual Returns
09/10/2013	New Accounts Filed
09/10/2013	New Accounts Filed
09/11/2012	Annual Returns
19/06/2012	New Accounts Filed
19/06/2012	New Accounts Filed
20/10/2011	Annual Returns
19/10/2011	Change in Reg.Office
01/08/2011	New Accounts Filed
01/08/2011	New Accounts Filed
13/11/2010	Annual Returns
04/10/2010	New Accounts Filed
04/10/2010	New Accounts Filed
05/07/2010	New Board Member Mr P.I. Myles appointed
24/03/2010	New Board Member B. Zhu appointed

Previous Company Names

No Previous Names found

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.
Sales in the latest trading period increased 7.1% on the previous trading period.
Net Worth decreased by 11.4% during the latest trading period.

A 23.9% growth in Total Assets occurred during the latest trading period.
Pre-tax profits decreased by 90.6% compared to the previous trading period.
The company saw an increase in their Cash Balance of 747.8% during the latest trading period.
The audit report contains no adverse comments.
No recent changes in directorship are recorded.
The company is part of a group.
The company has changed its registered address recently.
The company was established over 10 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.00
UK Pound	1	Rs.102.19
Euro	1	Rs.80.68

INFORMATION DETAILS

Analysis Done by :	RAS

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.