MIRA INFORM REPORT

Report Date :

04.10.2014

IDENTIFICATION DETAILS

Name :	CARLISLE BRASS LIMITED
Formerly Known As :	DEMOGUIDE LIMITED
Registered Office :	C/o Arran Isle Limited Brindley House Eland HX59HF
Country :	United Kingdom
Financials (as on) :	31.12.2013
Date of Incorporation :	27.05.1986
Com. Reg. No.:	02022858
Legal Form :	Private limited with share capital
Line of Business :	Subject is engaged in design and specialized distribution of architectural hardware.
No. of Employees :	150

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 – 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

Company name CARLISLE BRASS LIMITED.

Company Number : 02022858

DIRECTORS/MANAGEMENT

Current Directors

Name	Mark Steven Wild	Date of Birth	06/08/1960
Officers Title	Mr	Nationality	British
Present Appointments	131	Function	Director
Appointment Date	03/10/2006
Address	Apartment 10, Maple Gardens Birkby Road, Huddersfield, HD2 2DW
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Mark Wallis	Date of Birth	04/01/1964
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	18/02/2002
Address	50a Harpenden Road, St Albans, Herts, AL3 6DE
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Robert George Anthony Barr	Date of Birth	29/05/1956
Officers Title	Mr	Nationality	Irish
Present Appointments	15	Function	Director
Appointment Date	03/10/2006
Address	Granary Cottage Main Street, Linton, Wetherby, West Yorkshire, LS22 4HT
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Michael James Russell Richards	Date of Birth	10/04/1964
Officers Title	Mr	Nationality	British
Present Appointments	15	Function	Director
Appointment Date	01/10/2007
Address	11 River View, Mirfield, West Yorkshire, WF14 0HD
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Martin Alexander Ross	Date of Birth	10/01/1962
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	29/05/2012
Address	3 Tweed Close, Altrincham, Cheshire, WA14 4UH
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Martin Wardhaugh	Date of Birth	31/07/1960
Officers Title	Mr	Nationality	British
Present Appointments	9	Function	Director
Appointment Date	01/02/2013
Address	Russetts, Green Lane, Henley-On-Thames, RG9 1LS

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

No CCJs found

Possible CCJs Details

There are no possible CCJ details

Writ Details

No writs found

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
ARRAN ISLE HOLDINGS LTD	GBP	80	ORDINARY	1	100

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	15 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	ARRAN ISLE HOLDINGS LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	ARRAN ISLE LIMITED

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
ARRAN ISLE LIMITED	07044474	31.12.2013	Y	£206,500,000
ARRAN ISLE HOLDINGS LI...	00109354	31.12.2013	Y	£206,500,000
HW FABRICATION LIMITED	01523953	31.12.2013	N
PLANET OVERSEAS HOLD...	01747198	31.12.2013	N
CARLISLE BRASS LIMITED	02022858	31.12.2013	N	£35,961,000
EUROSPEC ARCHITECT...	03419990	31.12.2013	N
STERLING HARDWARE...	03477410	31.12.2013	N
EUROLITE DECORATIV...	03590915	31.12.2013	N	£2,203,000
HEYWOOD WILLIAMS COM...	02523354	31.12.2013	N	£39,006,000
DAWNFOREST LIMITED	04517238	31.12.2013	N
AVENCO LIMITED	IE161527	31.12.2013	N
CASTLEVALE LIMITED	IE095515	31.12.2013	N
BALMAR LIMITED	IE035345	31.12.2013	N
LOCKS & HARDWAR...	IE327918	31.12.2013	N
MILA LIMITED	IE143406	31.12.2013	N

FINANCIAL INFORMATION

Profit & Loss

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£35,961,000	3.2%	£34,845,000	13.8%	£30,609,000	67.9%	£18,227,000	8.7%	£16,765,000
Export	£3,064,000	-5.1%	£3,228,000	48.1%	£2,180,000	40%	£1,557,000	68.3%	£925,000
Cost of Sales	£23,509,000	2.9%	£22,852,000	13.3%	£20,173,000	72.2%	£11,717,000	14.4%	£10,245,000
Gross Profit	£12,452,000	3.8%	£11,993,000	14.9%	£10,436,000	60.3%	£6,510,000	-0.2%	£6,520,000
Wages & Salaries	£4,162,000	-0.7%	£4,191,000	16.6%	£3,594,000	35.6%	£2,651,000	-6.3%	£2,828,000
Directors Emoluments	£406,000	-38.2%	£657,000	20.1%	£547,000	2.4%	£534,000	2.5%	£521,000
Operating Profit	£4,079,000	24.9%	£3,265,000	-3%	£3,367,000	76.9%	£1,903,000	671.5%	-£333,000
Depreciation	£183,000	18.8%	£154,000	21.3%	£127,000	53%	£83,000	-37.1%	£132,000
Audit Fees	£23,000	-17.9%	£28,000	21.7%	£23,000	27.8%	£18,000	28.6%	£14,000
Interest Payments	£219,000	-	-	-	-	-	-	-	-
Pre Tax Profit	£4,098,000	25.5%	£3,265,000	-3%	£3,367,000	76.9%	£1,903,000	671.5%	-£333,000
Taxation	-£966,000	-0.2%	-£964,000	3.5%	-£999,000	-88.5%	-£530,000	-425.2%	£163,000
Profit After Tax	£3,132,000	36.1%	£2,301,000	-2.8%	£2,368,000	72.5%	£1,373,000	907.6%	-£170,000
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	£3,132,000	36.1%	£2,301,000	-2.8%	£2,368,000	72.5%	£1,373,000	907.6%	-£170,000

Balance Sheet

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Tangible Assets	£3,214,000	-3.2%	£3,321,000	-10.2%	£3,697,000	31%	£2,823,000	-2.4%	£2,891,000
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£3,214,000	-3.2%	£3,321,000	-10.2%	£3,697,000	31%	£2,823,000	-2.4%	£2,891,000
Stock	£10,646,000	12.2%	£9,489,000	-11.8%	£10,762,000	78.8%	£6,018,000	39.8%	£4,305,000
Trade Debtors	£5,953,000	-2.1%	£6,080,000	-6.5%	£6,506,000	71.1%	£3,803,000	40%	£2,717,000
Cash	£272,000	-88.4%	£2,339,000	-26.8%	£3,197,000	21.4%	£2,634,000	16%	£2,271,000
Other Debtors	£31,263,000	107.4%	£15,075,000	37.6%	£10,958,000	283.7%	£2,856,000	-32.1%	£4,205,000
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£48,134,000	45.9%	£32,983,000	5%	£31,423,000	105.2%	£15,311,000	13.4%	£13,498,000
Trade Creditors	£4,348,000	69.4%	£2,567,000	-32.6%	£3,807,000	87.5%	£2,030,000	9.3%	£1,858,000
Bank Loans & Overdrafts	£9,286,000	-	0	-	0	-	0	-	0
Other Short Term Finance	£12,348,000	-2.1%	£12,616,000	-2.7%	£12,964,000	999.9%	£28,000	-3.4%	£29,000
Miscellaneous Current Liabilities	£857,000	-31.6%	£1,253,000	60.2%	£782,000	-7.7%	£847,000	38.4%	£612,000
Total Current Liabilities	£26,839,000	63.3%	£16,436,000	-6.4%	£17,553,000	504.2%	£2,905,000	16.2%	£2,499,000
Bank Loans & Overdrafts and LTL	£10,795,000	-	0	-	0	-100%	£30,000	-53.1%	£64,000
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£1,509,000	-	0	-	0	-100%	£30,000	-53.1%	£64,000

Capital & Reserves

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Called Up Share Capital	-	-	-	-	-	-	-	-	-
P & L Account Reserve	£23,000,000	15.8%	£19,868,000	13.1%	£17,567,000	15.6%	£15,199,000	9.9%	£13,826,000
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£23,000,000	15.8%	£19,868,000	13.1%	£17,567,000	15.6%	£15,199,000	9.9%	£13,826,000

Other Financial Items

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Worth	£23,000,000	15.8%	£19,868,000	13.1%	£17,567,000	15.6%	£15,199,000	9.9%	£13,826,000
Working Capital	£21,295,000	28.7%	£16,547,000	19.3%	£13,870,000	11.8%	£12,406,000	12.8%	£10,999,000
Total Assets	£51,348,000	41.4%	£36,304,000	3.4%	£35,120,000	93.7%	£18,134,000	10.6%	£16,389,000
Total Liabilities	£28,348,000	72.5%	£16,436,000	-6.4%	£17,553,000	498.1%	£2,935,000	14.5%	£2,563,000
Net Assets	£23,000,000	15.8%	£19,868,000	13.1%	£17,567,000	15.6%	£15,199,000	9.9%	£13,826,000

Miscellaneous

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£24,509,000	23.4%	£19,868,000	13.1%	£17,567,000	15.4%	£15,229,000	9.6%	£13,890,000
Number of Employees	150	-0.7%	151	4.1%	145	98.6%	73	-1.4%	74
Auditors	ERNST & YOUNG LLP
Auditor Comments	The audit report contains no adverse comments

Ratios

Date Of Accounts	31/12/13	31/12/12	31/12/11	31/12/10	31/12/09
Pre-tax profit margin %	11.40	9.37	11	10.44	-1.99
Current ratio	1.79	2.01	1.79	5.27	5.40
Sales/Net Working Capital	1.69	2.11	2.21	1.47	1.52
Gearing %	46.90	0	0	0.20	0.50
Equity in %	44.80	54.70	50	83.80	84.40
Creditor Days	44.01	26.81	45.27	40.53	40.34
Debtor Days	60.25	63.51	77.36	75.94	58.99
Liquidity/Acid Test	1.39	1.42	1.17	3.19	3.67
Return On Capital Employed %	16.72	16.43	19.16	12.49	-2.39
Return On Total Assets Employed %	7.98	8.99	9.58	10.49	-2.03
Current Debt Ratio	1.16	0.82	0.99	0.19	0.18
Total Debt Ratio	1.23	0.82	0.99	0.19	0.18
Stock Turnover Ratio %	29.60	27.23	35.15	33.01	25.67
Return on Net Assets Employed %	17.81	16.43	19.16	12.52	-2.40

Creditor Details

	Total Number	Total Value
Trade Creditors	0	-

No Creditor Data

Trade Debtors / Bad Debt Detail

	Total Number of Documented Trade	Total Value of Documented Trade
Trade Debtors	13	£28,458

Company Name	Amount	Statement Date
Earlswood Court Limited	£11,446	24/09/2013
Daves Limited	£5,697	18/04/2012
Ironmongery2u Ltd	£3,608	07/05/2014
Wessex Ironmongery Ltd	£1,695	01/05/2012
Authorized Access Limited	£1,630	12/08/2013
Dendura Ltd	£1,092	16/03/2011
Systembox Limited	£1,085	11/08/2014
Dawes For Doors Ltd	£678	02/11/2011
T M S Scheduling Ltd	£502	17/12/2013
Ameray Limited	£434	20/12/2010
Brookeswood Limited	£341	19/03/2014
Bonner Moran Limited	£127	14/06/2011
Doors & Doors (Finchley) Ltd	£123	18/04/2013

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Enquiries Trend

There have been 134 enquiries in the last 12 months.

There are an average of 11 reports taken each month.

Current Company Secretary

Name	Mark Steven Wild	Date of Birth	06/08/1960
Officers Title	Mr	Nationality	British
Present Appointments	131	Function	Company Secretary
Appointment Date	03/10/2006
Address	Apartment 10, Maple Gardens Birkby Road, Huddersfield, HD2 2DW

Status History

No Status History found

Event History

Date	Description
10/06/2014	Annual Returns
10/06/2014	Annual Returns
15/04/2014	New Accounts Filed
15/04/2014	New Accounts Filed
21/08/2013	New Accounts Filed
09/08/2013	Mr D.G. Fenna has left the board
08/06/2013	Annual Returns
11/02/2013	Mr J.M. Anderson has left the board
11/02/2013	New Board Member Mr M. Wardhaugh appointed
14/08/2012	New Board Member Mr M.A. Ross appointed
10/08/2012	Change in Reg.Office
02/06/2012	Annual Returns
02/04/2012	New Accounts Filed
07/07/2011	New Accounts Filed
07/06/2011	Annual Returns

Previous Company Names

Date	Previous Name
19/08/1997	DEMOGUIDE LIMITED

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Jason Mark Anderson	2	7
Peter Geoffrey Dallimore	0	1
Ian Walter Hewitson	0	2
Ian Walter Hewitson	0	2
David Geoffrey Fenna	2	8
Michael Edward Buckley	0	2
Robin George Graham	3	4
John Little	5	8
Richard Staples	0	1
Richard Antony Whiting	9	34
Mark Wild	0	1

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.

Sales in the latest trading period increased 3.2% on the previous trading period.

Net Worth increased by 15.8% during the latest trading period.

A 41.4% growth in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 25.5% compared to the previous trading period.

The company saw a decrease in their Cash Balance of 88.4% 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 28 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.75
UK Pound	1	Rs.100.07
Euro	1	Rs.77.95

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%)

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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.