MIRA INFORM REPORT

Report Date :

25.11.2014

IDENTIFICATION DETAILS

Name :	SHREDMET LIMITED
Registered Office :	Old Bank Chambers 582-586 Kingsbury Road Erdington West Midlands B24 9ND
Country :	United Kingdom
Financials (as on) :	30.04.2013
Date of Incorporation :	04.06.2008
Com. Reg. No.:	06611675
Legal Form :	Private limited with Share Capital
Line of Business :	· Remediation activities and other waste management services · Sanitation, remediation & similar activities
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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

Company name and address

SHREDMET LIMITED	Telephone
OLD BANK CHAMBERS	Fax	-
582-586 KINGSBURY ROAD	Website	www.shredmet.com
ERDINGTON
WEST MIDLANDS
B24 9ND
United Kingdom

Company Number:	06611675	Status:	Active - Accounts Filed
Foundation:	04/06/2008

Comments

No exact match CCJs are recorded against the company. The company's credit rating has increased from not rated to 63 which indicates good creditworthiness. The movement in accumulated earnings would indicate that the company made a profit after tax and other appropriations, including dividends.

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. There is insufficient data to indicate a change in this company's pre-tax profit. The company is exempt from audit. The company has undergone recent changes in its directorships. The company is not part of a group. The company was established over 6 years ago.

Basic information

Legal form

Private limited with Share Capital

Foundation

04/06/2008

Company No.

06611675

Shareholders

Name	Currency	Number of shares	Share type	Nominal value
HAWKESWOOD FAMILY LIMITED	GBP	100,000	ORDINARY	0
Total Share Capital				GBP 100

Management

Directors
Name	Address:	Date of birth	Nationality	Appointment date
Mr Wayne Anthony Hawkeswood	Old Bank Chambers 582-586 Kingsbury Road, Erdington, West Midlands B24 9ND	16/08/1970	British	04/06/2008
Mr Graham John Woodhouse	Old Bank Chambers 582-586 Kingsbury Road, Erdington, West Midlands B24 9ND	09/11/1966	British	15/01/2014

Secretary

No Secretary appointed

Other Known Addresses

Old Bank Chambers, Central House, 582-586 Kingsbury Road, Erdington, Birmingham, West Midlands B24 9ND Riverside Works, Trevor Street, Birmingham, West Midlands B7 5RG

Company relationships

Company No.	Name	Status	Country
Ultimate parent
09015775	HAWKESWOOD HOLDING GROUP LIMITED	Active	United Kingdom
Affiliated companies
04282969	HAWKESWOOD METAL RECYCLING LIMITED	Active	United Kingdom
05572758	RECYCLING MANAGEMENT LIMITED	Active	United Kingdom
08205689	HAWKMET LIMITED	Active	United Kingdom
09125928	RML TRANSPORT SOLUTIONS LIMITED	Active	United Kingdom
07269766	WEEE HELP RECYCLE LIMITED	Non Trading	United Kingdom
Immediate parent
09015775	HAWKESWOOD HOLDING GROUP LIMITED	Active	United Kingdom

Business activities

Main activity
SIC03	Sanitation, remediation & similar activities
SIC07	Remediation activities and other waste management services

Economic data

Turnover and Employees

Date of Accounts	Turnover	Employees
30/04/2011	Not Stated	Not Stated
30/04/2012	Not Stated	Not Stated
30/04/2013	Not Stated	Not Stated

Supplementary data

Events

Company history

Date	Action
18/01/2010	New Accounts Filed
17/06/2010	Annual Returns
28/01/2011	New Accounts Filed
08/06/2011	Annual Returns
20/01/2012	New Accounts Filed
21/05/2012	New Accounts Filed
30/05/2012	New Company Secretary Miss J. Hill appointed
09/06/2012	Annual Returns
10/06/2013	Annual Returns
17/01/2014	New Board Member Mr G.J. Woodhouse appointed
05/02/2014	Miss J. Hill has resigned as company secretary
07/02/2014	New Accounts Filed

County Court Judgments (CCJs)

There are no County Court Judgments listed against this company

Balance Sheet

	30/04/2013 52 GBP Group: No	30/04/2012 52 GBP Group: No	30/04/2011 52 GBP Group: No	30/04/2010 52 GBP Group: No
Tangible Assets	0	0	0	0
Intangible Assets	0	0	0	0
Total Fixed Assets	0	0	0	0
Stock	0	0	0	0
Trade Debtors	1,749,516	0	0	0
Cash	16,648	0	0	0
Other Debtors	0	0	0	0
Miscellaneous Current Assets	0	0	0	0
Total Current Assets	1,766,164	0	0	0
Trade Creditors	1,585,479	0	0	0
Bank Loans and Overdraft	0	0	0	0
Other Short Term Finance	0	0	0	0
Miscellaneous Current Liabilities	0	0	0	0
Total Current Liabilities	1,585,479	0	0	0
Bank Loans and Overdrafts LTL	0	0	0	0
Other Long Term Finance	0	0	0	0
Total Long Term Liabilities	0	0	0	0

Capital & Reserves

	30/04/2013	30/04/2012	30/04/2011	30/04/2010
	52	52	52	52
	GBP	GBP	GBP	GBP
	Group: No	Group: No	Group: No	Group: No
Called Up Share Capital	100	0	0	0
P and L Account Reserve	180,585	0	0	0
Revaluation Reserve	0	0	0	0
Sundry Reserves	0	0	0	0
Shareholders Funds	180,685	0	0	0

Other Financial Items

	30/04/2013 52 GBP Group: No	30/04/2012 52 GBP Group: No	30/04/2011 52 GBP Group: No	30/04/2010 52 GBP Group: No
Net Worth	180,685	0	0	0
Working Capital	180,685	0	0	0
Total Assets	1,766,164	0	0	0
Total Liabilities	1,585,479	0	0	0
Net Assets	180,685	0	0	0

Cash Flow

	30/04/2013	30/04/2012	30/04/2011	30/04/2010
	52	52	52	52
	GBP	GBP	GBP	GBP
	Group: No	Group: No	Group: No	Group: No
Net Cash Flow from Operations	0	0	0	0
Net Cash Flow before Financing	0	0	0	0
Net Cash Flow from Financing	0	0	0	0
Increase in Cash	16,648	0	0	0

Miscellaneous

CAPITAL EMPLOYED

30/04/2013	30/04/2012	30/04/2011	30/04/2010
52	52	52	52
GBP	GBP	GBP	GBP
Group: No	Group: No	Group: No	Group: No
180,685	0	0	0

Financial Ratios

Name	30/04/2013	30/04/2012	30/04/2011	30/04/2010
Pre Tax Profit Margin	0.0%	0.0%	0.0%	0.0%
Current Ration	1.11	0.00	0.00	0.00
Sales or Net Working Capital	0.00	0.00	0.00	0.00
Gearing	0.00 %	0.0%	0.0%	0.0%
Equity	10.23 %	0.0%	0.0%	0.0%
Creditor Days	0.00	0.00	0.00	0.00
Debtor Days	0.00	0.00	0.00	0.00
Liquidity or Acid test	1.11	0.00	0.00	0.00
Return on Capital Employed	0.0%	0.0%	0.0%	0.0%
Return on Total Assets Employed	0.0%	0.0%	0.0%	0.0%
Current Debt Ratio	8.77 %	0.0%	0.0%	0.0%

Name	30/04/2013	30/04/2012	30/04/2011	30/04/2010
Total Debt Ratio	8.77 %	0.0%	0.0%	0.0%
Stock Turnover Ratio	0.0%	0.0%	0.0%	0.0%
Return on Net Assets Employed	0.0%	0.0%	0.0%	0.0%

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.78
UK Pound	1	Rs.96.78
Euro	1	Rs.76.59

INFORMATION DETAILS

Analysis Done by :	DIV
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.