MIRA INFORM REPORT

Report Date :

12.03.2014

IDENTIFICATION DETAILS

Name :	ESME VALVES LIMITED
Registered Office :	Coronation Road Basingstoke Hampshire Rg21 4et
Country :	United Kingdom
Financials (as on) :	31.03.2013
Date of Incorporation :	06.02.2001
Com. Reg. No.:	04154700
Legal Form :	Private limited with Share Capital
Line of Business :	· Manufacture of tubes, pipes, hollow profiles and related fittings, of steel · Manufacture of taps and valves
No. of Employees :	Not Available

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 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

REGISTERED NAME & COMPANY SUMMARY

Company Name	ESME VALVES LIMITED	Company Number	04154700
Registered Address	CORONATION ROAD BASINGSTOKE HAMPSHIRE RG21 4ET	Trading Address	ESME VALVES LIMITED Coronation Road Basingstoke Hampshire RG21 4ET
Website Address	http://www.esme-valve.co.uk
Telephone Number	01256464646
TPS	No
Incorporation Date	06/02/2001	Company Status	Active - Accounts Filed
Previous Name		Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	04/11/2013
		Share Capital	£100
SIC03	2722	Currency	GBP
SIC03 Description	Manufacture of steel tubes
SIC07	24200
SIC07 Description	MANUFACTURE OF TUBES, PIPES, HOLLOW PROFILES AND RELATED FITTINGS, OF STEEL
Principal Activity	Manufacture of taps and valves.

DIRECTORS/MANAGEMENT

Current Directors

Name	Roger Andre L'Herminier	Date of Birth	29/03/1936
Officers Title	Mr	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	06/02/2001
Address	Ivy Farm, Farringdon, Alton, Hampshire, GU34 3EL
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Christopher Roger L'Herminier	Date of Birth	21/06/1961
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	30/06/2001
Address	Coronation Road, Basingstoke, Hampshire, RG21 4ET

Current Company Secretary

Name	Alison L'Herminier	Date of Birth	-
Officers Title	Ms	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	31/08/2011
Address	Coronation Road, Basingstoke, Hampshire, RG21 4ET

NEGATIVE INFORMATION

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade Debtors / Bad Debt -	1
Total Value of Documented Trade Debtors / Bad Debt -	£348

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	2
Satisfied	0

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
ELECTRICAL STEAM & MINING EQUIPMENT LTD	GBP	100	ORDINARY	1	100

PAYMENT INFORMATION

Payment Information Summary

Days Beyond Terms

Trend Indicator

N/A	15
Company DBT	UK Average DBT

Steady

Improving Worsening

GROUP STRUCTURE & AFFILIATED COMPANIES

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Holding Company	ELECTRICAL STEAM & MINING EQUIPMENT LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	ELECTRICAL STEAM & MINING EQUIPMENT LIMITED

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Rating	Limit	Turnover
ELECTRICAL STEAM & MININ...	00355909	31.03.2013	N	94	£50,000
ESME VALVES LIMITED	04154700	31.03.2013	N	96	£25,000

FINANCIAL INFORMATION

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/03/2013	-	-	£145,748	-
31/03/2012	-	-	£108,835	-
31/03/2011	-	-	£139,032	-

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	£2,189	140.5%	£910	-10.8%	£1,020	-4.7%	£1,070	-4.5%	£1,120
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	£6,430	191%	£2,210	-29.2%	£3,120	-24.6%	£4,140	157.1%	£1,610
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£6,430	191%	£2,210	-29.2%	£3,120	-24.6%	£4,140	157.1%	£1,610
Stock	£299,657	9.1%	£274,552	0.7%	£272,686	9.1%	£249,841	-7.1%	£268,802
Trade Debtors	£146,729	-52.8%	£311,056	61.5%	£192,595	63.4%	£117,902	-19.3%	£146,103
Cash	£218,781	201.6%	£72,535	-28.9%	£101,954	-32.1%	£150,227	4.4%	£143,850
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£665,167	1.1%	£658,143	16%	£567,235	9.5%	£517,970	-7.3%	£558,755
Trade Creditors	£525,849	-4.7%	£551,518	27.9%	£431,323	15.7%	£372,895	-6.8%	£400,267
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	£525,849	-4.7%	£551,518	27.9%	£431,323	15.7%	£372,895	-6.8%	£400,267
Bank Loans & Overdrafts and LTL	0	-	0	-	0	-	0	-	0
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	0	-	0	-	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	£145,648	33.9%	£108,735	-21.7%	£138,932	-6.8%	£149,115	-6.8%	£159,998
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£145,748	33.9%	£108,835	-21.7%	£139,032	-6.8%	£149,215	-6.8%	£160,098

Other Financial Items

Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
Net Worth	£145,748	33.9%	£108,835	-21.7%	£139,032	-6.8%	£149,215	-6.8%	£160,098
Working Capital	£139,318	30.7%	£106,625	-21.5%	£135,912	-6.3%	£145,075	-8.5%	£158,488
Total Assets	£671,597	1.7%	£660,353	15.8%	£570,355	9.2%	£522,110	-6.8%	£560,365
Total Liabilities	£525,849	-4.7%	£551,518	27.9%	£431,323	15.7%	£372,895	-6.8%	£400,267
Net Assets	£145,748	33.9%	£108,835	-21.7%	£139,032	-6.8%	£149,215	-6.8%	£160,098

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	£145,748	33.9%	£108,835	-21.7%	£139,032	-6.8%	£149,215	-6.8%	£160,098
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers
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	1.26	1.19	1.32	1.39	1.40
Sales/Net Working Capital	-	-	-	-	-
Gearing %	0	0	0	0	0
Equity in %	21.70	16.50	24.40	28.60	28.60
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	0.69	0.69	0.68	0.71	0.72
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	3.60	5.06	3.10	2.49	2.50
Total Debt Ratio	3.60	5.06	3.10	2.49	2.50
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Status History

No Status History found.

Event History

Date	Description
06/03/2014	Annual Returns
13/11/2013	New Accounts Filed
26/03/2013	Annual Returns
07/11/2012	New Accounts Filed
23/04/2012	Annual Returns
14/12/2011	Mrs P.A. Griggs has resigned as company secretary
14/12/2011	New Company Secretary Ms A. L'Herminier appointed
07/11/2011	New Accounts Filed
25/03/2011	Annual Returns
18/12/2010	New Accounts Filed
24/03/2010	Annual Returns
12/10/2009	New Accounts Filed
18/03/2009	Annual Returns
14/11/2008	New Accounts Filed
09/01/2008	New Accounts Filed

Previous Company Names

No Previous Names found.

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.
The company's credit rating has increased from 88 to 96 which indicates very good creditworthiness.
There is insufficient data to indicate a change in this company's percentage of sales.
Net Worth increased by 33.9% during the latest trading period.
A 1.7% 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 201.6% during the latest trading period.
The company is exempt from audit.
No recent changes in directorship are recorded.
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 13 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.70
UK Pound	1	Rs.100.97
Euro	1	Rs.84.16

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.