MIRA INFORM REPORT

Report Date :

19.06.2014

IDENTIFICATION DETAILS

Name :	EUROFLAIR IMPORT/EXPORT LIMITED
Registered Office :	342B Rear, First Floor Bath Road Hounslow TW4 7HW
Country :	United Kingdom
Financials (as on) :	31.03.2013
Date of Incorporation :	29.04.1993
Com. Reg. No.:	2813896
Legal Form :	Private limited with Share Capital
Line of Business :	Retail Sale Not In Stores, Stalls Or Markets [We tried to confirm / obtain the detailed activity but the same is not available from any sources]
No. of Employees	Not Available

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 :	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 – 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: EUROFLAIR IMPORT/EXPORT LIMITED

Company Number: 2813896

Registered Address: 342B REAR, FIRST FLOOR BATH ROAD HOUNSLOW TW4 7HW

Office address : 40 Shelley Cres Hounslow, Middlesex, Tw5 9bj, United Kingdom

Website Address : -

Telephone Number -

TPS : -

Incorporation Date : 29/04/1993

Currency: GBP

SIC07 47990

SIC07 Description OTHER RETAIL SALE NOT IN STORES, STALLS OR MARKETS

Trading Address : 342B Rear, First Floor

Bath Road

Hounslow

TW4 7HW

TW4 7HW

Fax Number: -

FPS : No

Type : Private limited with Share Capital

FTSE Index: -

Filing Date of Accounts : 30/12/2013

Share Capital : £100

DIRECTORS/MANAGEMENT

Current Directors

Name	Niraj Mohindroo	Date of Birth	24/07/1960
Officers Title	Mr	Nationality	Indian
Present Appointments	1	Function	Director
Appointment Date	08/05/2014
Address	342 Bath Road, Hounslow, TW4 7HW
Other Actions	View Director Report	View Consumer Report

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
MR HARAVTAR SINGH ARORA	GBP	100	ORDINARY	1	100

PAYMENT INFORMATION

Payment Trend

Stable

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.

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

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

Statistics

Group	0 companies
Linkages	0 companies
Countries	In 0 countries

FINANCIAL INFORMATION

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	£986	-6.5%	£1,055	-7%	£1,135	70.4%	£666	865.2%	£69
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	£175,332	-7.4%	£189,318	999.9%	£10,819	23.5%	£8,760	40%	£6,258
Intangible Assets	£412	-10.8%	£462	-9.8%	£512	-8.9%	£562	-8.2%	£612
Total Fixed Assets	£175,744	-7.4%	£189,780	999.9%	£11,331	21.6%	£9,322	35.7%	£6,870
Stock	£2,400	-11.1%	£2,700	-10%	£3,000	-14.3%	£3,500	-39.1%	£5,750
Trade Debtors	0	-	0	-100%	£100,908	-60.2%	£253,739	7.4%	£236,289
Cash	£3,153	223.1%	£976	-46.1%	£1,812	999.9%	£10	-99.2%	£1,275
Other Debtors	0	-	0	-100%	£78,322	-60.9%	£200,566	-4.2%	£209,301
Miscellaneous Current Assets	0	-	0	-100%	£361	-	0	-	0
Total Current Assets	£5,553	51.1%	£3,676	-98%	£184,403	-59.7%	£457,815	1.1%	£452,615
Trade Creditors	£136,819	-3.4%	£141,629	28.9%	£109,910	3.8%	£105,872	20.4%	£87,959
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	0	-	0	-	0	-	0	-	0
Miscellaneous Current Liabilities	0	-	0	-100%	£42,193	-86.5%	£312,193	-0.5%	£313,725
Total Current Liabilities	£136,819	-3.4%	£141,629	-6.9%	£152,103	-63.6%	£418,065	4.1%	£401,684
Bank Loans & Overdrafts and LTL	£13,997	-10.1%	£15,573	-	0	-	0	-	0
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£13,997	-10.1%	£15,573	-	0	-	0	-	0

Capital & Reserves

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
Called Up Share Capital	£100	-	£100	-	£100	-	£100	-	£100
P & L Account Reserve	£30,381	-16%	£36,154	-16.9%	£43,531	-11.1%	£48,972	-15.1%	£57,701
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£30,481	-15.9%	£36,254	-16.9%	£43,631	-11.1%	£49,072	-15.1%	£57,801

Other Financial Items

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
Net Worth	£30,069	-16%	£35,792	-17%	£43,119	-11.1%	£48,510	-15.2%	£57,189
Working Capital	-£131,266	4.8%	-£137,953	-527.1%	£32,300	-18.7%	£39,750	-22%	£50,931
Total Assets	£181,297	-6.3%	£193,456	-1.2%	£195,734	-58.1%	£467,137	1.7%	£459,485
Total Liabilities	£150,816	-4.1%	£157,202	3.4%	£152,103	-63.6%	£418,065	4.1%	£401,684
Net Assets	£30,481	-15.9%	£36,254	-16.9%	£43,631	-11.1%	£49,072	-15.1%	£57,801

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	£44,478	-14.2%	£51,827	18.8%	£43,631	-11.1%	£49,072	-15.1%	£57,801
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers	BARCLAYS BANK PLC
Bank Branch Code

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	0.04	0.03	1.21	1.10	1.13
Sales/Net Working Capital	-	-	-	-	-
Gearing %	45.90	43	0	0	0
Equity in %	16.90	18.80	22.30	10.50	12.60
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	0.02	-	1.19	1.08	1.11
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	4.48	3.90	3.48	8.51	6.94
Total Debt Ratio	4.94	4.33	3.48	8.51	6.94
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

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	-	-

No Debtor Data

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Current Company Secretary

Status History

No Status History found

Event History

Date	Description
09/06/2014	Change in Reg.Office
03/06/2014	Annual Returns
14/05/2014	Mr H.S. Arora has left the board
14/05/2014	New Board Member Mr N. Mohindroo appointed
06/01/2014	New Accounts Filed
06/01/2014	New Accounts Filed
07/10/2013	Mr K. Singh has left the board
05/07/2013	New Board Member Mr K. Singh appointed
30/05/2013	Annual Returns
08/01/2013	New Accounts Filed
15/05/2012	Annual Returns
04/05/2012	Mr K.C. Bhargava has left the board
06/01/2012	New Accounts Filed
06/01/2012	New Accounts Filed
30/05/2011	Annual Returns

Previous Company Names

No Previous Names found

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Jaswinder Singh	1	1
Kamlesh Chandra Bhargava	32	10
Haravtar Singh Arora	16	14
Chandeep Kaur Khurana	0	4
Kalpana Jagjivan Master	16	20
Preet Singh Suri	4	5
TEMPLE SECRETARIES LIMITED	11630	198011
COMPANY DIRECTORS LIMITED	9352	196298
Kulbir Singh	6	5

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.

The company's credit rating has increased from 39 to 44 which indicates it is creditworthy.

There has been no significant change in the company's credit limit.

There is insufficient data to indicate a change in this company's percentage of sales.

Net Worth decreased by 16% during the latest trading period.

A 6.3% decline 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 223.1% during the latest trading period.

The company is exempt from audit.

The company has undergone recent changes in its directorships.

The company is not part of a group.

The movement in accumulated earnings would indicate that the company incurred a loss after tax and other appropriations, including dividends.

The company has changed its registered address recently.

The company was established over 21 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.12
UK Pound	1	Rs.102.00
Euro	1	Rs.81.43

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%)

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.