MIRA INFORM REPORT

Report Date :

07.05.2014

IDENTIFICATION DETAILS

Name :	BARROW,LANE & BALLARD LIMITED
Registered Office :	56A Crewys Road, London, NW2 2AD
Country :	United Kingdom
Financials (as on) :	30.09.2013
Date of Incorporation :	05.08.1964
Com. Reg. No.:	00814563
Legal Form :	Private limited with Share Capital
Line of Business :	Import, export and distribution of edible nuts and dried fruits.
No. of Employees :	16

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

REGISTERED NAME & COMPANY SUMMARY

Company Name	BARROW,LANE & BALLARD LIMITED	Company Number	00814563
Registered Address	56A CREWYS ROAD LONDON NW2 2AD	Trading Address	56A Crewys Road London NW2 2AD
Website Address	http://www.barrow-lane.co.uk
Telephone Number	-
TPS	-
Incorporation Date	05/08/1964	Company Status	Active - Accounts Filed
Previous Name		Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	16/01/2014
		Share Capital	£100,001
SIC03	5111	Currency	GBP
SIC03 Description	Agents agricultural & textile raw materials
SIC07	46110
SIC07 Description	AGENTS SELLING AGRICULTURAL RAW MATERIALS, LIVESTOCK, TEXTILE RAW MATERIALS AND SEMI-FINISHED GOODS
Principal Activity	Import, export and distribution of edible nuts and dried fruits.

DIRECTORS/MANAGEMENT

Current Directors

Name	Munir Kassamali Gulamali	Date of Birth	05/02/1955
Officers Title		Nationality	British
Present Appointments	4	Function	Director
Appointment Date	22/10/1996
Address	6 Kenmore Road, Kenton, Harrow, Middlesex, HA3 9EL
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Mark David Gravette	Date of Birth	02/12/1958
Officers Title	Mr	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	22/10/1996
Address	32 Thornash Road, Horsell, Woking, Surrey, GU21 4UW
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Maurice Stimler	Date of Birth	16/01/1978
Officers Title	Mr	Nationality	British
Present Appointments	20	Function	Director
Appointment Date	25/10/2010
Address	56a Crewys Road, London, NW2 2AD
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Stanley Stimler	Date of Birth	05/06/1955
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Director
Appointment Date	25/10/2010
Address	97 The Ridgeway, London, NW11 9RX
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Anthony Herman Stimler	Date of Birth	03/10/1971
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Director
Appointment Date	25/10/2010
Address	2 Holmfield Avenue, London, NW4 2LN

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

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	15

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value
LOUDWATER MANAGEMENT LTD	GBP	100,000	DEFERRED	1
LOUDWATER MANAGEMENT LTD	GBP	100	ORDINARY	0.01

Unable to report percentage holdings as filed Shareholder listing is not full.

PAYMENT INFORMATION

Payment Information Summary

Days Beyond Terms

Trend Indicator

           Average Payment Experience  

4	16
Company DBT	UK Average DBT

Steady

Improving Worsening

Within Terms 91+ Days

GROUP STRUCTURE & AFFILIATED COMPANIES

Group	4 companies
Linkages	0 companies
Countries	In 0 countries

Holding Company	LOUDWATER MANAGEMENT LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	LOUDWATER MANAGEMENT LIMITED

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
LOUDWATER TRADE AND FINA...	02669850	30.09.2013	Y	£103,069,030
LOUDWATER MANAGEMENT LIM...	07262452	30.09.2013	Y	£67,639,670
RISHY INVESTMENTS LIMITED	07351770	30.09.2013	Y	£33,819,835
BARROW,LANE & BALLARD...	00814563	30.09.2013	N	£67,639,670

FINANCIAL INFORMATION

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
30/09/2013	£67,639,670	£1,583,944	£3,852,856	16
30/09/2012	£64,970,312	£1,310,219	£3,116,796	13
30/09/2011	£60,317,024	£421,748	£2,265,883	12

Profit & Loss

Date Of Accounts	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10	(%)	31/03/10
Weeks	52	(%)	52	(%)	52	(%)	26	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£67,639,670	4.1%	£64,970,312	7.7%	£60,317,024	188.1%	£20,934,734	-50.8%	£42,565,453
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	£64,298,518	3.8%	£61,952,722	5.6%	£58,644,381	191%	£20,155,939	-49.9%	£40,230,823
Gross Profit	£3,341,152	10.7%	£3,017,590	80.4%	£1,672,643	114.8%	£778,795	-66.6%	£2,334,630
Wages & Salaries	£1,111,037	8.5%	£1,023,919	39.6%	£733,493	102.5%	£362,131	-56%	£823,591
Directors Emoluments	£504,282	1.2%	£498,143	21.8%	£408,961	86.1%	£219,704	-53.2%	£469,033
Operating Profit	£1,850,029	22.4%	£1,511,532	152.2%	£599,413	182.3%	£212,357	-80.8%	£1,104,505
Depreciation	£7,305	-19.2%	£9,043	-8.9%	£9,924	36.4%	£7,277	-26.3%	£9,868
Audit Fees	£12,900	7.5%	£12,000	-	£12,000	100%	£6,000	-	-
Interest Payments	£266,664	32.2%	£201,675	13.4%	£177,919	118%	£81,615	-61.4%	£211,330
Pre Tax Profit	£1,583,944	20.9%	£1,310,219	210.7%	£421,748	201.9%	£139,684	-84.4%	£896,449
Taxation	-£372,474	-25.5%	-£296,795	-206.8%	-£96,727	-170.1%	-£35,816	85.8%	-£251,500
Profit After Tax	£1,211,470	19.5%	£1,013,424	211.8%	£325,021	212.9%	£103,868	-83.9%	£644,949
Dividends Payable	£475,410	192.5%	£162,511	-	-	-100%	£1,055,161	-	-
Retained Profit	£736,060	-13.5%	£850,913	161.8%	£325,021	134.2%	-£951,293	-247.5%	£644,949

Balance Sheet

Date Of Accounts	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10	(%)	31/03/10
Tangible Assets	£24,520	-18.3%	£30,015	-10.2%	£33,418	-13.3%	£38,546	-3.1%	£39,798
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£24,520	-18.3%	£30,015	-10.2%	£33,418	-13.3%	£38,546	-3.1%	£39,798
Stock	£7,455,432	-5.4%	£7,879,445	4.3%	£7,554,492	110.9%	£3,581,577	-5.4%	£3,785,106
Trade Debtors	£8,635,832	7.4%	£8,044,539	-6.8%	£8,631,494	57.6%	£5,475,744	27.9%	£4,280,307
Cash	£357,215	-39.5%	£590,913	-2.2%	£604,460	-26.4%	£821,577	-59.2%	£2,011,546
Other Debtors	£91,266	23.8%	£73,748	-51.5%	£152,177	126.9%	£67,063	-20.2%	£84,077
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£16,539,745	-0.3%	£16,588,645	-2.1%	£16,942,623	70.3%	£9,945,961	-2.1%	£10,161,036
Trade Creditors	£2,074,907	-45.7%	£3,820,430	-22.6%	£4,936,233	208.7%	£1,599,207	-24.1%	£2,107,959
Bank Loans & Overdrafts	£10,194,996	11.7%	£9,130,900	-4.5%	£9,565,180	56.9%	£6,096,513	148.8%	£2,449,919
Other Short Term Finance	0	-	0	-	0	-	0	-100%	£2,400,511
Miscellaneous Current Liabilities	£440,980	-19.8%	£549,908	163.6%	£208,601	-40%	£347,925	-0.7%	£350,290
Total Current Liabilities	£12,710,883	-5.9%	£13,501,238	-8.2%	£14,710,014	82.9%	£8,043,645	10.1%	£7,308,679
Bank Loans & Overdrafts and LTL	£10,195,522	11.7%	£9,131,526	-4.5%	£9,565,324	56.9%	£6,096,513	148.8%	£2,449,919
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£526	-16%	£626	334.7%	£144	-	0	-	0

Capital & Reserves

Date Of Accounts	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10	(%)	31/03/10
Called Up Share Capital	£100,001	-	£100,001	-	£100,001	-	£100,001	-	£100,001
P & L Account Reserve	£3,752,855	24.4%	£3,016,795	39.3%	£2,165,882	17.7%	£1,840,861	-34.1%	£2,792,154
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£3,852,856	23.6%	£3,116,796	37.6%	£2,265,883	16.7%	£1,940,862	-32.9%	£2,892,155

Other Financial Items

Date Of Accounts	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10	(%)	31/03/10
Net Worth	£3,852,856	23.6%	£3,116,796	37.6%	£2,265,883	16.7%	£1,940,862	-32.9%	£2,892,155
Working Capital	£3,828,862	24%	£3,087,407	38.3%	£2,232,609	17.4%	£1,902,316	-33.3%	£2,852,357
Total Assets	£16,564,265	-0.3%	£16,618,660	-2.1%	£16,976,041	70%	£9,984,507	-2.1%	£10,200,834
Total Liabilities	£12,711,409	-5.9%	£13,501,864	-8.2%	£14,710,158	82.9%	£8,043,645	10.1%	£7,308,679
Net Assets	£3,852,856	23.6%	£3,116,796	37.6%	£2,265,883	16.7%	£1,940,862	-32.9%	£2,892,155

Cash Flow

Date Of Accounts	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10	(%)	31/03/10
Net Cashflow from Operations	-£83,275	-109.5%	£873,869	127.1%	-£3,222,126	13%	-£3,702,704	-290.3%	£1,945,951
Net Cashflow before Financing	-£1,297,794	-408.5%	£420,733	111.4%	-£3,685,784	23.8%	-£4,836,563	-415%	£1,535,224
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-£1,297,794	-408.5%	£420,733	111.4%	-£3,685,784	23.8%	-£4,836,563	-415%	£1,535,224

Miscellaneous

Date Of Accounts	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10	(%)	31/03/10
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£3,853,382	23.6%	£3,117,422	37.6%	£2,266,027	16.8%	£1,940,862	-32.9%	£2,892,155
Number of Employees	16	23.1%	13	8.3%	12	-	12	-	12
Auditors	RDP NEWMANS LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	LLOYDS TSB BANK PLC
Bank Branch Code	30-00-02

Ratios

Date Of Accounts	30/09/13	30/09/12	30/09/11	30/09/10	31/03/10
Pre-tax profit margin %	2.34	2.02	0.70	0.67	2.11
Current ratio	1.30	1.23	1.15	1.24	1.39
Sales/Net Working Capital	17.67	21.04	27.02	11	14.92
Gearing %	264.60	293	422.10	314.10	84.70
Equity in %	23.30	18.80	13.30	19.40	28.40
Creditor Days	11.16	21.40	29.78	13.90	18.02
Debtor Days	46.47	45.07	52.08	47.60	36.60
Liquidity/Acid Test	0.71	0.64	0.63	0.79	0.87
Return On Capital Employed %	41.10	42.02	18.61	7.19	30.99
Return On Total Assets Employed %	9.56	7.88	2.48	1.39	8.78
Current Debt Ratio	3.29	4.33	6.49	4.14	2.52
Total Debt Ratio	3.29	4.33	6.49	4.14	2.52
Stock Turnover Ratio %	11.02	12.12	12.52	17.10	8.89
Return on Net Assets Employed %	41.11	42.03	18.61	7.19	30.99

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Status History

No Status History found.

Event History

Date	Description
24/01/2014	Change in Reg.Office
24/01/2014	Change of Company Postcode
23/01/2014	New Accounts Filed
23/01/2014	New Accounts Filed
16/01/2014	Mr P.J. Morgan has left the board
16/01/2014	Mr P.G. Sawbridge has left the board
02/09/2013	Annual Returns
17/12/2012	New Accounts Filed
17/12/2012	New Accounts Filed
24/08/2012	Annual Returns
17/01/2012	New Accounts Filed
17/01/2012	New Accounts Filed
19/09/2011	Annual Returns
28/01/2011	New Accounts Filed
28/01/2011	New Accounts Filed

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 4.1% on the previous trading period.

Net Worth increased by 23.6% during the latest trading period.

A 0.3% decline in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 20.9% compared to the previous trading period.

The company saw a decrease in their Cash Balance of 39.5% during the latest trading period.

The audit report contains no adverse comments.

The company has undergone recent changes in its directorships.

The company is part of a group.

The company has changed its registered address recently.

The company was established over 49 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.20
UK Pound	1	Rs.101.68
Euro	1	Rs.83.55

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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