MIRA INFORM REPORT

Report Date :

12.05.2014

IDENTIFICATION DETAILS

Name :	MARDON PUBLIC LIMITED COMPANY
Registered Office :	Fenton House 10 Fenton Street Lancaster LA1 1TE
Country :	United Kingdom
Financials (as on) :	30.09.2013
Date of Incorporation :	26.06.2008
Com. Reg. No.:	01853428
Legal Form :	Public limited with Share Capital
Line of Business :	Wholesale distribution of fish and meat, and eco-products
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

MARDON PUBLIC LIMITED COMPANY

REGISTERED ADDRESS:

FENTON HOUSE

10 FENTON STREET

LANCASTER

LA1 1TE

Company summary

Company Name	MARDON PUBLIC LIMITED COMPANY	Company Number	01853428
Registered Address	FENTON HOUSE 10 FENTON STREET LANCASTER LA1 1TE	Trading Address	Fenton House 10 Fenton Street Lancaster Lancashire LA1 1TE
Website Address	http://www.mardonplc.com
Telephone Number	01524845000
TPS	No
Incorporation Date	08/10/1984	Company Status	Active - Accounts Filed
Previous Name	MARDON LIMITED	Type	Public limited with Share Capital
Date of Change	26/06/2008	Filing Date of Accounts	29/03/2014
		Share Capital	£50,000
SIC03	0501 View More	Currency	GBP
SIC03 Description	Fishing
SIC07	03110
SIC07 Description	MARINE FISHING
Principal Activity	Wholesale distribution of fish and meat, and eco-products throughout the UK and overseas.

Accounts Due Date 30/06/2015

Commentary

No exact match CCJs are recorded against the company.
Sales in the latest trading period decreased 49.6% on the previous trading period.
Net Worth increased by 19.6% during the latest trading period.
A 27.1% decline in Total Assets occurred during the latest trading period.
Pre-tax profits increased by 101.8% compared to the previous trading period.
The company saw a decrease in their Cash Balance of 82.3% during the latest trading period.
The audit report contains no adverse comments.
No recent changes in directorship are recorded.
The company is part of a group.
The company was established over 29 years ago.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
30/09/2013	£7,304,989	£22,366	£604,270	14
30/09/2012	£14,482,437	-£1,244,877	£505,264	23
30/09/2011	£18,442,613	£143,979	£1,842,608	25

Payment Information Summary

Days Beyond Terms

Trend Indicator

15	16
Company DBT	UK Average DBT

Steady

Improving Worsening

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	7
Satisfied	5

Total Current Directors	2
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	7

Current Directors

Name	Mark John Donoghue	Date of Birth	03/02/1958
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Director
Appointment Date	26/10/2012
Address	Fenton House, 10 Fenton Street, Lancaster, Lancashire, LA1 1TE
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Kevin John Bailey	Date of Birth	26/10/1961
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	23/03/2011
Address	Fenton House, 10 Fenton Street, Lancaster, Lancashire, LA1 1TE
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	Mark John Donoghue	Date of Birth	-
Officers Title	Mr	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	26/10/2012
Address	Fenton House, 10 Fenton Street, Lancaster, Lancashire, LA1 1TE
Other Actions		View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MARDON HOLDINGS LTD	GBP	50,000	ORDINARY	1	100

Profit & Loss

	Date Of Accounts	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10	(%)	30/09/09
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
	Turnover	£7,304,989	-49.6%	£14,482,437	-21.5%	£18,442,613	-11.9%	£20,925,986	-11.2%	£23,557,921
	Export	£2,483,696	-25.4%	£3,330,961	-	-	-	-	-	-
	Cost of Sales	£6,313,147	-53.8%	£13,671,830	-19.3%	£16,936,805	-13.3%	£19,535,735	-11.6%	£22,097,508
	Gross Profit	£991,842	22.4%	£810,607	-46.2%	£1,505,808	8.3%	£1,390,251	-4.8%	£1,460,413
	Wages & Salaries	£523,865	-40%	£872,569	8.1%	£807,250	10.4%	£731,427	10.2%	£663,652
	Directors Emoluments	£97,791	-65.8%	£285,928	-16.7%	£343,336	12.5%	£305,055	10%	£277,371
	Operating Profit	£51,218	104.4%	-£1,167,821	-642.8%	£215,140	-31.2%	£312,860	-41.5%	£534,571
	Depreciation	£27,713	-4%	£28,874	14.6%	£25,193	-4.5%	£26,385	-17.6%	£32,011
	Audit Fees	-	-	-	-	£4,000	-16.7%	£4,800	-	£4,800
	Interest Payments	£33,892	-56%	£77,098	8.2%	£71,272	-22.6%	£92,121	-15.7%	£109,219
	Pre Tax Profit	£22,366	101.8%	-£1,244,877	-964.6%	£143,979	-35.4%	£222,820	-47.6%	£425,389
	Taxation	£209,404	660.6%	£27,533	193.2%	-£29,533	39.6%	-£48,886	53.6%	-£105,349
	Profit After Tax	£231,770	119%	-£1,217,344	-999.9%	£114,446	-34.2%	£173,934	-45.7%	£320,040
	Dividends Payable	£132,764	10.6%	£120,000	-	£120,000	-36.8%	£190,000	-20.8%	£240,000
	Retained Profit	£99,006	107.4%	-£1,337,344	-999.9%	-£5,554	65.4%	-£16,066	-120.1%	£80,040

Balance Sheet

	Date Of Accounts	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10	(%)	30/09/09
	Tangible Assets	£695,593	-3.8%	£723,306	-2.6%	£742,295	-1.2%	£751,126	-3.2%	£775,603
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£695,593	-3.8%	£723,306	-2.6%	£742,295	-1.2%	£751,126	-3.2%	£775,603
	Stock	£309,537	-56.1%	£705,543	-36.1%	£1,104,747	20.1%	£919,685	-43.4%	£1,624,324
	Trade Debtors	£1,657,691	-31.6%	£2,424,858	-37.9%	£3,905,450	44.8%	£2,697,843	-9.3%	£2,974,811
	Cash	£90,330	-82.3%	£511,538	999.9%	£31,002	-90.9%	£341,054	153.4%	£134,613
	Other Debtors	£577,866	222.8%	£179,017	-34.6%	£273,812	29.2%	£211,854	15.5%	£183,382
	Miscellaneous Current Assets	0	-100%	£25,000	-	£25,000	-	0	-	0
	Total Current Assets	£2,635,424	-31.5%	£3,845,956	-28%	£5,340,011	28%	£4,170,436	-15.2%	£4,917,130
	Trade Creditors	£372,699	-67.9%	£1,159,606	-32.2%	£1,709,809	88.9%	£905,188	-48.4%	£1,755,649
	Bank Loans & Overdrafts	£1,187,463	-56%	£2,700,663	10.1%	£2,452,937	17.5%	£2,088,273	10.2%	£1,894,493
	Other Short Term Finance	0	-	0	-	0	-	0	-	0
	Miscellaneous Current Liabilities	£169,420	-16.1%	£201,947	162.4%	£76,952	-3.7%	£79,941	-55.2%	£178,365
	Total Current Liabilities	£1,729,582	-57.4%	£4,062,216	-4.2%	£4,239,698	37.9%	£3,073,402	-19.7%	£3,828,507
	Bank Loans & Overdrafts and LTL	£2,184,628	-19.2%	£2,702,445	10.2%	£2,452,937	17.5%	£2,088,273	10.2%	£1,894,493
	Other Long Term Finance	£997,165	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£997,165	999.9%	£1,782	-	0	-	0	-	0

Capital & Reserves

	Date Of Accounts	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10	(%)	30/09/09
	Called Up Share Capital	£12,501	-	£12,501	-	£12,501	-	£12,501	-	£12,501
	P & L Account Reserve	£505,813	24.9%	£404,853	-76.7%	£1,740,243	-0.2%	£1,743,841	-0.8%	£1,757,953
	Revaluation Reserve	£85,956	-2.2%	£87,910	-2.2%	£89,864	-2.1%	£91,818	-2.1%	£93,772
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£604,270	19.6%	£505,264	-72.6%	£1,842,608	-0.3%	£1,848,160	-0.9%	£1,864,226

Other Financial Items

	Date Of Accounts	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10	(%)	30/09/09
	Net Worth	£604,270	19.6%	£505,264	-72.6%	£1,842,608	-0.3%	£1,848,160	-0.9%	£1,864,226
	Working Capital	£905,842	518.9%	-£216,260	-119.7%	£1,100,313	0.3%	£1,097,034	0.8%	£1,088,623
	Total Assets	£3,331,017	-27.1%	£4,569,262	-24.9%	£6,082,306	23.6%	£4,921,562	-13.5%	£5,692,733
	Total Liabilities	£2,726,747	-32.9%	£4,063,998	-4.1%	£4,239,698	37.9%	£3,073,402	-19.7%	£3,828,507
	Net Assets	£604,270	19.6%	£505,264	-72.6%	£1,842,608	-0.3%	£1,848,160	-0.9%	£1,864,226

Miscellaneous

	Date Of Accounts	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10	(%)	30/09/09
	Contingent Liability	YES	-	YES	-	YES	-	YES	-	YES
	Capital Employed	£1,601,435	215.8%	£507,046	-72.5%	£1,842,608	-0.3%	£1,848,160	-0.9%	£1,864,226
	Number of Employees	14	-39.1%	23	-8%	25	31.6%	19	18.8%	16
	Auditors	MOORE & SMALLEY LLP
	Auditor Comments	The audit report contains no adverse comments
	Bankers	NATIONAL WESTMINSTER BANK PLC
	Bank Branch Code	01-67-14

Ratios

	Date Of Accounts	30/09/13	30/09/12	30/09/11	30/09/10	30/09/09
	Pre-tax profit margin %	0.31	-8.60	0.78	1.06	1.81
	Current ratio	1.52	0.95	1.26	1.36	1.28
	Sales/Net Working Capital	8.06	-66.97	16.76	19.08	21.64
	Gearing %	361.50	534.90	133.10	113	101.60
	Equity in %	18.10	11.10	30.30	37.60	32.70
	Creditor Days	18.57	29.14	33.74	15.74	27.12
	Debtor Days	82.60	60.94	77.08	46.92	45.96
	Liquidity/Acid Test	1.34	0.77	0.99	1.05	0.86
	Return On Capital Employed %	1.39	-245.51	7.81	12.05	22.81
	Return On Total Assets Employed %	0.67	-27.24	2.36	4.52	7.47
	Current Debt Ratio	2.86	8.03	2.30	1.66	2.05
	Total Debt Ratio	4.51	8.04	2.30	1.66	2.05
	Stock Turnover Ratio %	4.23	4.87	5.99	4.39	6.89
	Return on Net Assets Employed %	3.70	-246.38	7.81	12.05	22.81

Status History

No Status History found

Event History

Date	Description
10/04/2014	New Accounts Filed
10/04/2014	New Accounts Filed
14/09/2013	Annual Returns
16/08/2013	New Accounts Filed
16/08/2013	New Accounts Filed
16/11/2012	Mr D.B. Griffiths has left the board
13/11/2012	New Board Member Mr M.J. Donoghue appointed
09/11/2012	Annual Returns
06/11/2012	Mr J.A. Sutcliffe has left the board
06/11/2012	Mr J.A. Sutcliffe has resigned as company secretary
06/11/2012	Mr R.A. Bulman has left the board
06/11/2012	New Company Secretary Mr M.J. Donoghue appointed
06/11/2012	New Board Member Mr M.J. Donoghue appointed
05/09/2012	Change of Name
31/03/2012	New Accounts Filed

Previous Company Names

Date	Previous Name
26/06/2008	MARDON LIMITED
14/03/2008	MARDON PLC
03/11/1999	MARDON MCCOY PLC
04/10/1989	MARDON AND MCCOY LTD
22/04/1988	MARDON EXPORT BROKERS LIMITED

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	MARDON HOLDINGS LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	MARDON HOLDINGS LIMITED

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
MARDON HOLDINGS LIMITED	06271360	30.09.2013	Y	£5,319,717
MARDON PUBLIC LIMITED...	01853428	30.09.2013	N	£7,304,989

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:
Date Charge Created:	13/02/14
Date Charge Registered:	17/02/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.

Mortgage Type:	DEBENTURE
Date Charge Created:	25/11/09
Date Charge Registered:	01/12/09
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:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXEDPLANT & MACHINERY

Mortgage Type:	DEBENTURE
Date Charge Created:	27/11/09
Date Charge Registered:	28/11/09
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	RBS INVOICE FINANCE LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY SEE IMAGEFOR FULL DETAILS

Mortgage Type:	DEED OF GENERAL ASSIGNMENT OF RECEIVABLES
Date Charge Created:	20/05/08
Date Charge Registered:	24/05/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	LANDSBANKI ISLANDS HF.
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	RIGHT TITLE AND INTEREST IN AND TO THE RECEIVABLES. SEE IMAGE FOR FULL DETAILS

Mortgage Type:	DEBENTURE
Date Charge Created:	20/05/08
Date Charge Registered:	24/05/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	LANDSBANKI ISLANDS HF.
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND HOLDINGS TO THE CHARGEE ONANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY. SEE IMAGEFOR FULL DETAILS

Mortgage Type:	LEGAL CHARGE
Date Charge Created:	10/04/08
Date Charge Registered:	17/04/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	MARK JOHN DONOGHUE AND CHRISTINE MARIE DONOGHUE
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:	THE PROPERTIES COMPRISING 6 8 10 12 14 AND 16 FENTON STREET LANCASTER PREVIOUSLY DESCRIBE AS 6 FENTON STREET LANCASTER AND FENTON COURT FENTON STREET LANCASTERT/NOS. LA619446 & LA644477

Mortgage Type:	DEBENTURE
Date Charge Created:	10/04/08
Date Charge Registered:	17/04/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	MARK JOHN DONOGHUE AND CHRISTINE MARIE DONOGHUE
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:	F/H OR L/H PROPERTIES, ALL RIGHTS LICENCES GUARANTEES RENT DEPOSITS CONTRACTS COVENANTS AND WARRANTIES RELATING TO THE PROPERTY,GOODWILL,UNCLAIMED CAPITAL, ALLEQUIPMENT INTELLECTUAL PROPERTY, BOOK DEBTS,INVESTMENTS AND ALL MONIES STANDINGTO THE CREDIT OF ITS ACCOUNTS

Mortgage Type:	LEGAL CHARGE
Date Charge Created:	09/09/98
Date Charge Registered:	15/09/98
Date Charge Satisfied:	08/12/06
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	94 DOCK STREET FLEETWOOD LANCASHIRE

Mortgage Type:	MORTGAGE DEBENTURE
Date Charge Created:	26/03/92
Date Charge Registered:	09/04/92
Date Charge Satisfied:	31/05/08
Status:	SATISFIED
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:	20/03/90
Date Charge Registered:	05/04/90
Date Charge Satisfied:	31/05/08
Status:	SATISFIED
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 KNOWN AS THE TRADES HALL 8FENTON STREET LANCASTER THE PROCEEDS OFSALE TOGETHER WITH FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT

Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	12/03/90
Date Charge Registered:	19/03/90
Date Charge Satisfied:	31/05/08
Status:	SATISFIED
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:	6 FENTON STREET, LANCASTERTITLE NO LA 619446AND THE PROCEEDS OF SALE THEREOF.FLOATING CHARGE OVER ALL MOVABLE PLANTMACHINERY IMPLEMENTS UTENSILS FURNITUREAND EQUIPMENT.

Mortgage Type:	DEBENTURE
Date Charge Created:	31/08/88
Date Charge Registered:	20/09/88
Date Charge Satisfied:	14/04/92
Status:	SATISFIED
Person(s) Entitled:	UDT COMMERCIAL FINACE LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

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
Jonathan David Horne Strachan	0	2
Christine Marie Donoghue	1	5
Christine Marie Donoghue	1	5
Robert Alastair Bulman	0	2
Julian Alexander Sutcliffe	6	8
Julian Alexander Sutcliffe	6	8
David Barry Griffiths	2	2
Average Invoice Value			£386.27
Invoices available			24
Paid			22
Outstanding			2

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	5	12	3	2	0
Outstanding	2	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.05
UK Pound	1	Rs.101.65
Euro	1	Rs.83.07

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.