MIRA INFORM REPORT

Report Date :

28.10.2014

IDENTIFICATION DETAILS

Name :	DASAN LIMITED

Registered Office :	Flat 45 9 Devonhurst Place, Heathfield Terrace, London W4 4JB

Country :	United Kingdom

Financials (as on) :	31.12.2013

Date of Incorporation :	06.04.2010

Legal Form :	Private limited with Share Capital

Line of Business :	Wholesale of clothing and footwear

No of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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

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

DASAN LIMITED

Company Summary

Registered Address	FLAT 45 9 DEVONHURST PLACE HEATHFIELD TERRACE LONDON W4 4JB	Trading Address	Flat 45 9 Devonhurst Place Heathfleld Terrace London W4 4JB
Website Address	-	Telephone Number	-
Fax Number	-	TPS	-
FPS	No	Incorporate Date	06/04/2010
Previous Name		Type	Private limited with Share Capital
FTSE Index	-	Date of Change	-
Filing Date of Accounts	23/09/2014	Currency	GBP
Share Capital	£100	SIC07	46420
Charity Number	-	SIC07 Description	WHOLESALE OF CLOTHING AND FOOTWEAR
Principal Activity

DIRECTORS/MANAGEMENT

Current Directors

Name	Puja Sachdev	Date of Birth	18/04/1977
Officers Title	Ms	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	06/04/2010
Address	Flat 45 9 Devonhurst Place, Heathfield Terrace, London, W4 4JB

Previous Director/Company Secretaries

No Previous Director Details

NEGATIVE INFORMATION

Mortgage Summary

Total Mortgage 2

Outstanding 2

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:
Date Charge Created:	04/08/14
Date Charge Registered:	08/08/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC;
Amount Secured:
Details:	3 SWAN CLOSE, GLOUCESTER ROAD, CROYDON T/NO SGL567341CONTAINS FIXED CHARGE.CONTAINS NEGATIVE PLEDGE.

Mortgage Type:
Date Charge Created:	25/07/14
Date Charge Registered:	01/08/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value
PUJA SACHDEV	GBP	1	ORDINARY	100

PAYMENT INFORMATION

Average Invoice Value	n/a
Invoices available	n/a
Paid	n/a
Outstanding	n/a

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
Outstanding

GROUP STRUCTURE & AFFILIATED COMPANIES

Group structure

No group structure

FINANCIAL INFORMATION

FINANCIALS

Profit & Loss

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	-
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	-
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	-
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	-
Turnover	-	-	-	-	-	-	-	-	-
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages & Salaries	-	-	-	-	-	-	-	-	-
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	-	-	-	-	-	-	-	-	-
Depreciation	£1,787	191%	£614	-4.4%	£642	132.6%	£276	-	-
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	(%)	-
Tangible Assets	£5,363	190.8%	£1,844	-4.3%	£1,926	132.6%	£828	-	-
Intangible Assets	0	-	0	-	0	-	0	-	-
Total Fixed Assets	£5,363	190.8%	£1,844	-4.3%	£1,926	132.6%	£828	-	-
Stock	£1,550	55%	£1,000	81.8%	£550	-98.5%	£37,900	-	-
Trade Debtors	£126,392	-22.8%	£163,783	75.1%	£93,538	189.3%	£32,334	-	-
Cash	£83,553	409.6%	£16,397	-44.3%	£29,451	-28.4%	£41,158	-	-
Other Debtors	0	-	0	-	0	-	0	-	-
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	-
Total Current Assets	£211,495	16.7%	£181,180	46.7%	£123,539	10.9%	£111,392	-	-
Trade Creditors	£112,551	-19.8%	£140,312	27.6%	£109,949	-18.7%	£135,252	-	-
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	-
Other Short Term Finance	0	-	0	-	0	-	0	-	-
Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	-
Total Current Liabilities	£112,551	-19.8%	£140,312	27.6%	£109,949	-18.7%	£135,252	-	-
Bank Loans & Overdrafts and LTL	0	-	0	-	0	-	0	-	-
Other Long Term Finance	0	-	0	-	0	-	0	-	-
Total Long Term Liabilities	0	-	0	-	0	-	0	-	-

Capital & Reserves

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	-
Called Up Share Capital	£1	-	£1	-	£1	-	£1	-	-
P & L Account Reserve	£104,306	144.2%	£42,711	175.3%	£15,515	167.4%	-£23,033	-	-
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£104,307	144.2%	£42,712	175.3%	£15,516	167.4%	-£23,032	-	-

Other Financial Items

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	-
Net Worth	£104,307	144.2%	£42,712	175.3%	£15,516	167.4%	-£23,032	-	-
Working Capital	£98,944	142.1%	£40,868	200.7%	£13,590	157%	-£23,860	-	-
Total Assets	£216,858	18.5%	£183,024	45.9%	£125,465	11.8%	£112,220	-	-
Total Liabilities	£112,551	-19.8%	£140,312	27.6%	£109,949	-18.7%	£135,252	-	-
Net Assets	£104,307	144.2%	£42,712	175.3%	£15,516	167.4%	-£23,032	-	-

Cash Flow

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	-
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	(%)	-
Contingent Liability	NO	-	NO	-	NO	-	NO	-	-
Capital Employed	£104,307	144.2%	£42,712	175.3%	£15,516	167.4%	-£23,032	-	-
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers
Bank Branch Code

Ratios

Date Of Accounts	31/12/13	31/12/12	31/12/11	31/12/10	-
Pre-tax profit margin %	-	-	-	-	-
Current ratio	1.88	1.29	1.12	0.82	-
Sales/Net Working Capital	-	-	-	-	-
Gearing %	0	0	0	0	-
Equity in %	48.10	23.30	12.40	-20.50	-
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	1.86	1.28	1.11	0.54	-
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	1.07	3.28	7.08	-5.87	-
Total Debt Ratio	1.07	3.28	7.08	-5.87	-
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
01/10/2014	New Accounts Filed
26/05/2014	Annual Returns
13/08/2013	New Accounts Filed
29/05/2013	Annual Returns
03/10/2012	New Accounts Filed
04/05/2012	Annual Returns
04/10/2011	New Accounts Filed
08/06/2011	Annual Returns
28/02/2011	Change in Reg.Office
28/02/2011	Change of Company Postcode
30/12/2010	New Board Member Ms P. Sachdev appointed
08/04/2010	New Board Member Ms P. Sachdev appointed

Previous Company Names

No Previous Names found

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.

Net Worth increased by 144.2% during the latest trading period.

A 18.5% growth in Total Assets occurred during the latest trading period.

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 saw an increase in their Cash Balance of 409.6% during the latest trading period.

The company is exempt from audit.

No recent changes in directorship are recorded.

The company is not part of a group.

The movement in accumulated earnings would indicate that the company made a profit after tax and other appropriations, including dividends.

The company was established over 4 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.23
UK Pound	1	Rs.98.53
Euro	1	Rs.77.75

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	SMN

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.