MIRA INFORM REPORT

Report Date :

29.07.2014

IDENTIFICATION DETAILS

Name :	MELTECH LIMITED

Registered Office :	2 Mill Road Haverhill Suffolk CB9 8BD

Country :	United Kingdom

Financials (as on) :	31.03.2013

Date of Incorporation :	28.05.1999

Com. Reg. No.:	03780047

Legal Form :	Private limited with Share Capital

Line of Business :	Manufacture of furnaces and furnace burners and general mechanical engineering

No. of Employees	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Slow but correct
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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

United Kingdom

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 name

Company Name:	MELTECH LIMITED
Company Number:	03780047

Company summary

Registered Address	2 MILL ROAD	Trading Address	2 MILL ROAD
	HAVERHILL		HAVERHILL
	SUFFOLK		SUFFOLK
	CB9 8BD		CB9 8BD
Website Address	http://www.inductionfurnaces.co.uk
Telephone Number	--	Fax Number	--
TPS	-	FPS	--
Incorporation Date	28/05/1999	Previous Name	--
Type	Private limited with Share Capital
FTSE Index	--	Date of Change	09/01/2014
Filing Date of Accounts	03/07/013	Currency	GBP
SIC07	25620	Share Capital	£500
SIC07 Description	MACHINING
Principal Activity	Manufacture of furnaces and furnace burners and general mechanical engineering

DIRECTORS/MANAGEMENT

Current Directors

Name	James Alan Macey	Date of Birth	09/04/1932
Officers Title	Mr	Nationality	British
Present Appointments	6	Function	Director
Appointment Date	28/05/1999
Address	102 Coalway Road, Penn, Wolverhampton, West Midlands, WV3 7NB
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Neil Stephen Moore	Date of Birth	16/06/1966
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Director
Appointment Date	28/05/1999
Address	54 Dovehouse Road, Haverhill, Suffolk, CB9 0BZ
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Stephen James Macey	Date of Birth	18/03/1963
Officers Title	Mr	Nationality	British
Present Appointments	8	Function	Director
Appointment Date	28/05/1999
Address	185 Cannock Road, Westcroft, North Wolverhampton, South Staffordshire, WV10 8QL
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Russell Anthony Hunt	Date of Birth	14/12/1965
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	15/11/2013
Address	2 Mill Road, Haverhill, Suffolk, CB9 8BD
Other Actions	View Director Report	View Consumer Report

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Neil Stephen Moore	4	1
SWIFT INCORPORATIONS LIMITED	2579	263489

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
NEIL STEPHEN MOORE	GBP	100	ORDINARY B	1	20
STEPHEN JAMES MACEY	GBP	100	ORDINARY A	1	20
STEPHEN JAMES MACEY	GBP	100	ORDINARY B	1	20
MRS JANET MACEY	GBP	100	ORDINARY A	1	20
NEIL STEPHEN MOORE	GBP	100	ORDINARY A	1	20

PAYMENT INFORMATION

Mortgage Summary

Total Mortgage	0
Summary	0
Satisfied	0

Trade debtors / Bad debts Summary

Total Number of Documented Trade	0
Total Value of Documented Trade	£0

Trade Payment Information

Average Invoice Value	£ 280.09
Invoices available	56
Paid	48
Outstanding	8

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 30 enquiries in the last 12 months.

There are an average of 3 reports taken each month.

	3 MONTHS	6 MONTHS	9 MONTHS
Enquiries	10	15	23

	Within Terms	0-30 Days	31-60 Days	61-90 Days	91+ Days
Paid	19	23	5	1	0
Outstanding	2	4	0	0	2

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	MELTECH LIMITED
Ownership Status	Ultimately Owned
Ultimate Holding Company	MELTECH LIMITED

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
MELTECH LIMITED	03780047	31.03.2013	N
INDUCTION FURNACES LIM...	07635735	31.03.2013	N

FINANCIAL INFORMATION

Year to Date	Turnover	Pre Tax Profit	Shareholder	Funds Employee
31/03/2013	-	-	£267,069	-
31/03/2012	-	-	£252,033	-
31/03/2011	-	-	£140,527	-

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	-	-	-	-	-	-	-	-	-
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages & Salaries	-	-	-	-	-	-	-	-	-
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	-	-	-	-	-	-	-	-	-
Depreciation	£4,524	-9.2%	£4,980	-13.5%	£5,760	9.1%	£5,280	-25.8%	£7,119
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
Tangible Assets	£19,246	25.4%	£15,345	-49.2%	£30,226	78.1%	£16,967	-15.7%	£20,128
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£19,246	25.4%	£15,345	-49.2%	£30,226	78.1%	£16,967	-15.7%	£20,128
Stock	£218,650	108.9%	£104,650	15.7%	£90,450	14.1%	£79,300	35.6%	£58,500
Trade Debtors	£118,437	-38.8%	£193,646	10.7%	£174,882	39.6%	£125,263	-15.3%	£147,961
Cash	£220,783	108.7%	£105,813	528.1%	£16,847	-70%	£56,075	33.1%	£42,125
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£557,870	38%	£404,109	43.2%	£282,179	8.3%	£260,638	4.8%	£248,586
Trade Creditors	£303,182	82.8%	£165,851	-2.1%	£169,326	26%	£134,378	-15.9%	£159,795
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	0	-	0	-	0	-	0	-	0
Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	0
Total Current Liabilities	£303,182	82.8%	£165,851	-2.1%	£169,326	26%	£134,378	-15.9%	£159,795
Bank Loans & Overdrafts and LTL	£6,865	337.3%	£1,570	-32.4%	£2,322	98.1%	£1,172	-23.2%	£1,527
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£6,865	337.3%	£1,570	-32.4%	£2,322	98.1%	£1,172	-23.2%	£1,527

Capital & Reserves

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
Called Up Share Capital	£500	-	£500	-	£500	-	£500	-	£500
P & L Account Reserve	£266,569	6%	£251,533	79.3%	£140,257	-0.9%	£141,555	32.4%	£106,892
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£267,069	6%	£252,033	79.1%	£140,757	-0.9%	£142,055	32.3%	£107,392

Other Financial Items

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
Net Worth	£267,069	6%	£252,033	79.1%	£140,757	-0.9%	£142,055	32.3%	£107,392
Working Capital	£254,688	6.9%	£238,258	111.1%	£112,853	-10.6%	£126,260	42.2%	£88,791
Total Assets	£577,116	37.6%	£419,454	34.3%	£312,405	12.5%	£277,605	3.3%	£268,714
Total Liabilities	£310,047	85.2%	£167,421	-2.5%	£171,648	26.6%	£135,550	-16%	£161,322
Net Assets	£267,069	6%	£252,033	79.1%	£140,757	-0.9%	£142,055	32.3%	£107,392

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	£273,934	8%	£253,603	77.2%	£143,079	-0.1%	£143,227	31.5%	£108,919

Ratios

Date Of Accounts	31/03/13	31/03/12	31/03/11	31/03/10	31/03/09
Pre-tax profit margin %	-	-	-	-	-
Current ratio	1.84	2.44	1.67	1.94	1.56
Sales/Net Working Capital	-	-	-	-	-
Gearing %	2.60	0.60	1.60	0.80	1.40
Equity in %	46.30	60.10	45.10	51.20	40
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	1.11	1.80	1.13	1.34	1.18
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	1.13	0.65	1.20	0.94	1.48
Total Debt Ratio	1.16	0.66	1.21	0.95	1.50
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Current Company Secretary

Name	Jan Vanessa Macey	Date of Birth	-
Officers Title	Mrs	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	19/10/2011
Address	2 Mill Road, Haverhill, Suffolk, CB9 8BD

Number of Employees	-	-	-	-	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers	HSBC BANK PLC
Bank Branch Code	40-47-11

Status History

No Status History found

Event History

Date	Description
16/06/2014	Annual Returns
05/12/2013	New Board Member Mr R.A. Hunt appointed
08/07/2013	New Accounts Filed
18/06/2013	Annual Returns
24/10/2012	New Accounts Filed
15/06/2012	Annual Returns
01/11/2011	New Accounts Filed
01/11/2011	New Accounts Filed
26/10/2011	New Company Secretary Mrs J.V. Macey appointed
25/10/2011	Mr N.S. Moore has resigned as company secretary
17/06/2011	Annual Returns
11/09/2010	New Accounts Filed
12/06/2010	Annual Returns
21/10/2009	New Accounts Filed
07/06/2009	Annual Returns

Previous Company Names

No Previous Names found

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.
There has been no significant change in the company's credit rating.
There is insufficient data to indicate a change in this company's percentage of sales.
Net Worth increased by 6% during the latest trading period.

A 37.6% growth in Total Assets occurred during the latest trading period.
There is insufficient data to indicate a change in this company's pre-tax profit.
The company saw an increase in their Cash Balance of 108.7% during the latest trading period.
The company is exempt from audit.
The company has undergone recent changes in its directorships.
The company is part of a group.
The movement in accumulated earnings would indicate that the company made a profit after tax and other appropriations, including dividends.
The company was established over 15 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.10
UK Pound	1	Rs.102.04
Euro	1	Rs.80.74

INFORMATION DETAILS

Analysis Done by :	SUB

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.