MIRA INFORM REPORT

Report Date :

22.10.2014

IDENTIFICATION DETAILS

Name :	BIOPHARMA TECHNOLOGY LIMITED

Registered Office :	Biopharma House, 9 Winnall Valley Road Winchester SO23 0LD

Country :	United Kingdom

Financials (as on) :	31.12.2013

Date of Incorporation :	08.04.1997

Com. Reg. No.:	03347404

Legal Form :	Private Limited with Share Capital

Line of Business :	· Research and Experimental Development on Biotechnology · R and D on Natural Sciences and Engineering.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

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

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

REGISTERED NAME & COMPANY SUMMARY

BIOPHARMA TECHNOLOGY LIMITED

DIRECTORS/MANAGEMENT

Current Directors

Name	Michael Roy Richards	Date of Birth	09/07/1951
Officers Title	Mr	Nationality	British
Present Appointments	16	Function	Director
Appointment Date	05/02/2009
Address	Spruce Cottage, Newbridge, Cadnam, Southampton, Hampshire, SO40 2NW

Name	Andrew Edward Cowen	Date of Birth	25/02/1958
Officers Title	Mr	Nationality	British
Present Appointments	14	Function	Director
Appointment Date	05/02/2009
Address	Homestead Farm, North Houghton, Stockbridge, Hampshire, SO20 6LG

Name	Kevin Richard Ward	Date of Birth	19/02/1970
Officers Title	Dr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	01/01/2004
Address	1 Barn Lane, Oakley, Basingstoke, Hampshire, RG23 7HT

Name	Rupert James Graham Lowe	Date of Birth	31/10/1957
Officers Title	Mr	Nationality	British
Present Appointments	27	Function	Director
Appointment Date	05/02/2009
Address	Ravenswell Farm Farm House, Harnham Lane Withington, Cheltenham, Gloucestershire, GL54 4DD

Name	Laura Anna Stephania Ciccolini	Date of Birth	01/06/1974
Officers Title	Dr	Nationality	Italian
Present Appointments	1	Function	Director
Appointment Date	01/04/2012
Address	Biopharma House 9 Winnall Valley Road, Winchester, SO23 0LD

Current Company Secretary

Name	Michael Roy Richards	Date of Birth	09/07/1951
Officers Title	Mr	Nationality	British
Present Appointments	16	Function	Company Secretary
Appointment Date	05/02/2009
Address	Spruce Cottage, Newbridge, Cadnam, Southampton, Hampshire, SO40 2NW

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Anthony John Gaster	0	4
Anthony John Gaster	0	4
Clare Leonie Gaster	0	2

NEGATIVE INFORMATION

Mortgage Summary

Total Mortgage 1

Outstanding 1

Satisfied 0

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

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 -	-

Mortgage Details

Mortgage Type:	MORTGAGE DEBENTURE
Date Charge Created:	05/02/09
Date Charge Registered:	20/02/09
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	ANDREW COWEN,RUPERT LOWE,MICHAEL RICHARDS AND KOLKER CAPITAL INC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	THE ASSET CONTRACTS,THE OTHER CLAIMS,THE FIXED PLANT AND EQUIPMENT SEE IMAGE FOR FULL DETAILS

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
PE487 LTD	GBP	1,000	ORDINARY	1	100

PAYMENT INFORMATION

Average Invoice Value	£125.43
Invoices available	8
Paid	8
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	6	0	1	1	0
Outstanding	0	0	0	0	0

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	8 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	PE487 LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	PE487 LIMITED

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
PE487 LIMITED	06802470	31.12.2013	N
BIOPHARMA PROCESS SYST...	02337313	31.12.2013	N
BIOPHARMA TECHNOLOGY L...	03347404	31.12.2013	N
BIOPHARMA OVERSEAS L...	08102654	31.12.2013	N
CROWTHORNE GROUP LIMITED	05012943	31.07.2013	Y	£1,531,433
CROWTHORNE HI-TEC SE...	01991838	31.07.2013	N
MEASURED PROTECTIO...	02573785	31.07.2013	N
CROWTHORNE LIMITED	02734927	31.07.2013	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	-	-	-	-	-	-	-	-	-
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages & Salaries	-	-	-	-	-	-	-	-	-
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	-	-	-	-	-	-	-	-	-
Depreciation	£40,870	22.6%	£33,324	-12.1%	£37,896	108.4%	£18,180	-3.3%	£18,805
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Tangible Assets	£128,208	-8.1%	£139,488	6%	£131,595	-21.7%	£168,148	98.4%	£84,750
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£128,208	-8.1%	£139,488	6%	£131,595	-21.7%	£168,148	98.4%	£84,750
Stock	£20,923	-47.8%	£40,058	7.2%	£37,370	-24.9%	£49,787	433.8%	£9,327
Trade Debtors	£265,767	-0.4%	£266,780	3.1%	£258,821	1.2%	£255,805	76.2%	£145,174
Cash	£266,384	-34.8%	£408,818	81.4%	£225,383	256.7%	£63,181	-66.3%	£187,703
Other Debtors	£812	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£553,886	-22.6%	£715,656	37.2%	£521,574	41.4%	£368,773	7.8%	£342,204
Trade Creditors	£229,329	-13.8%	£265,973	0.6%	£264,281	26.4%	£209,037	11.4%	£187,653
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	0	-	0	-	0	-	0	-	0
Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	0
Total Current Liabilities	£229,329	-13.8%	£265,973	0.6%	£264,281	26.4%	£209,037	11.4%	£187,653
Bank Loans & Overdrafts and LTL	£15,309	-45.7%	£28,180	33.5%	£21,109	-27.9%	£29,289	100.6%	£14,600
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£15,309	-45.7%	£28,180	33.5%	£21,109	-27.9%	£29,289	100.6%	£14,600

Capital & Reserves

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Called Up Share Capital	£1,000	-	£1,000	-	£1,000	-	£1,000	-	£1,000
P & L Account Reserve	£436,456	-22.1%	£559,991	52.7%	£366,779	23.2%	£297,595	33%	£223,701
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£437,456	-22%	£560,991	52.5%	£367,779	23.2%	£298,595	32.9%	£224,701

Other Financial Items

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Worth	£437,456	-22%	£560,991	52.5%	£367,779	23.2%	£298,595	32.9%	£224,701
Working Capital	£324,557	-27.8%	£449,683	74.8%	£257,293	61.1%	£159,736	3.4%	£154,551
Total Assets	£682,094	-20.2%	£855,144	30.9%	£653,169	21.7%	£536,921	25.8%	£426,954
Total Liabilities	£244,638	-16.8%	£294,153	3.1%	£285,390	19.7%	£238,326	17.8%	£202,253
Net Assets	£437,456	-22%	£560,991	52.5%	£367,779	23.2%	£298,595	32.9%	£224,701

Cash Flow

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Contingent Liability	YES	-	YES	-	YES	-	YES	-	YES
Capital Employed	£452,765	-23.2%	£589,171	51.5%	£388,888	18.6%	£327,884	37%	£239,301
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors	WILKINS KENNEDY LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	LLOYDS TSB BANK PLC
Bank Branch Code	30-99-71

Ratios

Date Of Accounts	31/12/13	31/12/12	31/12/11	31/12/10	31/12/09
Pre-tax profit margin %	-	-	-	-	-
Current ratio	2.42	2.69	1.97	1.76	1.82
Sales/Net Working Capital	-	-	-	-	-
Gearing %	3.50	5	5.70	9.80	6.50
Equity in %	64.10	65.60	56.30	55.60	52.60
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	2.32	2.54	1.83	1.52	1.77
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	0.52	0.47	0.71	0.70	0.83
Total Debt Ratio	0.55	0.52	0.77	0.79	0.90
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

FOREIGN EXCHANGE RATES

N/A

ADDITIONAL INFORMATION

Status History

No Status History found

Event History

Date	Description
28/05/2014	New Accounts Filed
28/05/2014	New Accounts Filed
16/04/2014	Annual Returns
27/05/2013	Annual Returns
15/05/2013	New Accounts Filed
30/04/2012	Annual Returns
11/04/2012	New Accounts Filed
06/04/2012	New Board Member Dr L.A. Ciccolini appointed
03/05/2011	Annual Returns
08/04/2011	New Accounts Filed
21/07/2010	New Accounts Filed
24/05/2010	Annual Returns
17/09/2009	New Accounts Filed
10/07/2009	New Board Member Mr R.J. Lowe appointed
10/05/2009	Annual Returns

Previous Company Names

No Previous Names found

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.

The audit report contains no adverse comments.

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.

Net Worth decreased by 22% during the latest trading period.

A 20.2% decline in Total Assets occurred during the latest trading period.

The company saw a decrease in their Cash Balance of 34.8% during the latest trading period.

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 was established over 17 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.30
UK Pound	1	Rs.99.16
Euro	1	Rs.78.59

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	NIT

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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