MIRA INFORM REPORT

Report Date :

05.05.2014

IDENTIFICATION DETAILS

Name :	R.G. FOSTER TEXTILE MACHINERY LIMITED
Registered Office :	Litchurch Plaza Litchurch Lane, Derby, DE24 8AA
Country :	United Kingdom
Financials (as on) :	31.12.2012
Date of Incorporation :	24.12.1976
Com. Reg. No.:	01292470
Legal Form :	Private limited with Share Capital
Line of Business :	Manufacture of other general machinery
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 – 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
Moderately Low Risk	B1
Moderate Risk	B2
Moderately 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:	R.G. FOSTER TEXTILE MACHINERY LIMITED
Company No:	01292470
Registered Address:
LITCHURCH PLAZA LITCHURCH LANE
DERBY
DE24 8AA

Summary – Company Information

Company Name	R.G. FOSTER TEXTILE MACHINERY LIMITED	Company Number	01292470
Registered Address	LITCHURCH PLAZA LITCHURCH LANE DERBY DE24 8AA	Trading Address	Litchurch Lane Derby Derbyshire DE24 8AA
Website Address	http://www.foster-tm.co.uk
Telephone Number	-
TPS	-
Incorporation Date	24/12/1976	Company Status	Active - Accounts Filed
Previous Name		Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	25/09/2013
		Share Capital	£250,004
SIC03	2924	Currency	GBP
SIC03 Description	Manufacture of other general machinery
SIC07	28290
SIC07 Description	MANUFACTURE OF OTHER GENERAL-PURPOSE MACHINERY N.E.C.
Principal Activity

Commentary

No exact match CCJs are recorded against the company.

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

Net Worth decreased by 10.4% during the latest trading period.

A 5.2% 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 a decrease in their Cash Balance of 40.4% 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 incurred a loss after tax and other appropriations, including dividends.

The company has changed its registered address recently.

The company was established over 37 years ago.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/12/2012	-	-	£1,539,312	-
31/12/2011	-	-	£1,718,529	-
31/12/2010	-	-	£695,453	-

Payment Information Summary

Days Beyond Terms

Trend Indicator

                         Average Payment Experience  

N/A	16
Company DBT	UK Average DBT

Steady

Improving Worsening

Within Terms 91+ Days

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	9
Satisfied	0

Total Current Directors	2
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	4

Current Directors

Name	Roger Gregory	Date of Birth	18/05/1944
Officers Title	Mr	Nationality	British
Present Appointments	27	Function	Director
Appointment Date	16/10/1992
Address	16 Porters Lane, Oakwood, Derby, DE21 4FZ

Name	Russell Glen Foster	Date of Birth	01/11/1948
Officers Title	Mr	Nationality	British
Present Appointments	20	Function	Director
Appointment Date	16/10/1992
Address	Vale View 8 Bolton Lane, Hose, Melton Mowbray, Leicestershire, LE14 4JE

Current Company Secretary

Name	Roger Gregory	Date of Birth	18/05/1944
Officers Title	Mr	Nationality	British
Present Appointments	27	Function	Company Secretary
Appointment Date	28/06/1996
Address	16 Porters Lane, Oakwood, Derby, DE21 4FZ

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value
RUSSELL GLEN FOSTER	GBP	1,250,020	ORDINARY	0.1
ROGER GREGORY	GBP	1,250,020	ORDINARY	0.1

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	-	-	-	-	-
Export	-	-	-	-	-
Cost of Sales	-	-	-	-	-
Gross Profit	-	-	-	-	-
Wages & Salaries	-	-	-	-	-
Directors Emoluments	-	-	-	-	-
Operating Profit	-	-	-	-	-
Depreciation	£22,000	£500	£41,998	£79,900	£68,313
Audit Fees	-	-	-	-	-
Interest Payments	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-
Taxation	-	-	-	-	-
Profit After Tax	-	-	-	-	-
Dividends Payable	-	-	-	-	-
Retained Profit	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/12/12	31/12/11	31/12/10	31/12/09	31/12/08
Tangible Assets	£2,118,100	£2,194,102	£2,369,484	£2,410,822	£2,422,782
Intangible Assets	0	0	0	0	0
Total Fixed Assets	£2,118,100	£2,194,102	£2,369,484	£2,410,822	£2,422,782
Stock	£29,890	£50,958	£62,022	£163,839	£105,677
Trade Debtors	£587,165	£630,209	£1,338,584	£1,163,072	£938,667
Cash	£17,981	£30,184	£31,638	£26,801	£677,544
Other Debtors	0	0	0	0	£311,825
Miscellaneous Current Assets	0	0	0	0	0
Total Current Assets	£635,036	£711,351	£1,432,244	£1,353,712	£2,033,713
Trade Creditors	£355,294	£316,151	£2,223,912	£255,183	£766,380
Bank Loans & Overdrafts	£825,000	0	0	£800,000	£1,197,029
Other Short Term Finance	0	0	0	0	0
Miscellaneous Current Liabilities	0	0	0	0	0
Total Current Liabilities	£1,180,294	£316,151	£2,223,912	£1,055,183	£1,963,409
Bank Loans & Overdrafts and LTL	£858,530	£870,773	£882,363	£2,661,819	£2,989,669
Other Long Term Finance	0	0	0	0	0
Total Long Term Liabilities	£33,530	£870,773	£882,363	£1,861,819	£1,792,640

Capital & Reserves

Date Of Accounts	31/12/12	31/12/11	31/12/10	31/12/09	31/12/08
Called Up Share Capital	£250,004	£250,004	£250,000	£250,000	£250,000
P & L Account Reserve	£1,289,308	£1,468,525	£436,382	£571,860	£439,810
Revaluation Reserve	-	-	£9,071	£25,672	£10,636
Sundry Reserves	-	-	-	-	-
Shareholder Funds	£1,539,312	£1,718,529	£695,453	£847,532	£700,446

Other Financial Items

Date Of Accounts	31/12/12	31/12/11	31/12/10	31/12/09	31/12/08
Net Worth	£1,539,312	£1,718,529	£695,453	£847,532	£700,446
Working Capital	-£545,258	£395,200	-£791,668	£298,529	£70,304
Total Assets	£2,753,136	£2,905,453	£3,801,728	£3,764,534	£4,456,495
Total Liabilities	£1,213,824	£1,186,924	£3,106,275	£2,917,002	£3,756,049
Net Assets	£1,539,312	£1,718,529	£695,453	£847,532	£700,446

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	£1,572,842	£2,589,302	£1,577,816	£2,709,351	£2,493,086
Number of Employees	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers	NATIONAL WESTMINSTER BANK PLC
Bank Branch Code

Ratios

Date Of Accounts	31/12/12	31/12/11	31/12/10	31/12/09	31/12/08
Pre-tax profit margin %	-	-	-	-	-
Current ratio	0.54	2.25	0.64	1.28	1.04
Sales/Net Working Capital	-	-	-	-	-
Gearing %	55.80	50.70	126.90	314.10	426.80
Equity in %	55.90	59.10	18.30	22.50	15.70
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	0.51	2.08	0.61	1.12	0.98
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	0.76	0.18	3.19	1.24	2.80
Total Debt Ratio	0.78	0.69	4.46	3.44	5.36
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

Status History

No Status History found

Event History

Date	Description
18/11/2013	Annual Returns
15/11/2013	Change in Reg.Office
15/11/2013	Change of Company Postcode
03/10/2013	New Accounts Filed
18/01/2013	Annual Returns
01/10/2012	New Accounts Filed
03/11/2011	Annual Returns
06/10/2011	New Accounts Filed
05/11/2010	Annual Returns
14/09/2010	New Accounts Filed
25/01/2010	Annual Returns
12/08/2009	New Accounts Filed
12/08/2009	New Accounts Filed
12/11/2008	Annual Returns
07/11/2008	New Accounts Filed

Previous Company Names

No Previous Names found

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	R.G. FOSTER TEXTILE MACHINERY LIMITED
Ownership Status	Ultimately Owned
Ultimate Holding Company	R.G. FOSTER TEXTILE MACHINERY LIMITED

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
R.G. FOSTER TEXTILE MACH...	01292470	31.12.2012	N
FOSTER-GREGORY (BULL C...	03626198	31.12.2012	N

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Exact CCJ Details

No CCJs found

Possible CCJs Details

There are no possible CCJ details

Writ Details

No writs found

Mortgage Details

Mortgage Type:	FEE AGREEMENT SECOND CHARGE
Date Charge Created:	30/11/10
Date Charge Registered:	08/12/10
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	WEST REGISTER (TRADING) LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	LAND AT BOBBERS MILL INDUSTRIAL ESTATE OLD ALFRETON ROAD NOTTINGHAM CITY OF NOTTINGHAM T/NO:NT358023NT31155 NT72810 THE PLANT AND MACHINERY AND FIXTURES AND FITTINGS THE FURNITURE FURNISHINGS EQUIPMENT TOOLS AND OTHER CHATTELS GOODWILL AND ALL ASSETS RELATING TO THE BUSINESS

Mortgage Type:	LEGAL CHARGE
Date Charge Created:	29/06/07
Date Charge Registered:	30/06/07
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:	LAND AND BUILDINGS AT OLD ALFRETON ROADBOBBERS MILL NOTTINGHAM BY WAY OF FIXED CHARGE THE BENEFIT OFALL 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:	LEGAL MORTGAGE
Date Charge Created:	19/10/00
Date Charge Registered:	25/10/00
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:	THE LEASEHOLD PROPERTY KNOWN AS SOVEREIGN HOUSE QUEENSBRIDGE ROAD NOTTINGHAM (PART) TITLE NUMBER NT28775 AND THE PROCEEDS OF SALE THEREOF FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT AND AN ASSIGNMENT OF THE GOODWILL AND CONNECTION OF ANY BUSINESS TOGETHER WITH THE FULL BENEFIT OF ALL LICENCES

Mortgage Type:	LEGAL MORTAGE
Date Charge Created:	02/12/93
Date Charge Registered:	22/12/93
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:	F/H PROPERTY K/A 48 TONGE MOOR ROAD BOLTON T/N GM594974 AND THE PROCEEDS OF SALE THEROF FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT AND AN ASSIGNMENTOF THEGOODWILL AND CONNECTION OF ANY BUSINESSTOGETHER WITH THE FULL BENEFIT OF ALL LICENCES

Mortgage Type:	MORTGAGE DEBENTURE
Date Charge Created:	29/10/93
Date Charge Registered:	03/11/93
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:	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

Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	30/09/91
Date Charge Registered:	07/10/91
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:	LAND AT BULL CLOSE ROAD, LENTON LANE, NOTTINGHAM.TITLE NO NT 45437AND/OR THE PROCEEDS OF SALE THEREOF. FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT

Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	08/08/90
Date Charge Registered:	20/08/90
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:	LAND & BUILDINGS ON THE SOUTH SIDE OF TONGE MOOR ROAD BOLTON GREATER MANCHESTERT/NOS GM 316529 GM 355289 GM 279773 ANDGM 407329 AND GM 356792 AND PROCEEDS OFSALE THEREOF FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT

Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	31/12/85
Date Charge Registered:	13/01/86
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:	MASSON WORKS LITCHURCH LANE DERBY T/N DY 3272 AND THE PROCEEDS OF SALE THEREOF FLOATING CHARGE OVERALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT

Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	14/07/80
Date Charge Registered:	17/07/80
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:	F/H LAND LYING TO THE NORTH WEST OF QUEENS DRIVE, NOTTINGHAM. FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT

Creditor Details

	No Creditor Data
Total Value		-

Trade Debtors / Bad Debt Detail

No Debtor Data
Total Value	-

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Lesley Elizabeth Edwards	0	3
Maarten Van De Water	0	3
Elizabeth Jane Straughan	3	3
George Johnson Aird	0	1

Average Invoice Value	£594.89
Invoices available	4
Paid	4
Outstanding	0

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	0	4	0	0	0
Outstanding	0	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.23
UK Pound	1	Rs.101.68
Euro	1	Rs.83.46

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	NNA

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.