MIRA INFORM REPORT

Report Date :

01.09.2014

IDENTIFICATION DETAILS

Name :	FAIRMONT & MAIN LIMITED
Registered Office :	Jubilee Park Jubilee Way Grance Moor West Yorkshire WF44TD
Country :	United Kingdom
Financials (as on) :	31.05.2013
Date of Incorporation :	20.05.1994
Com. Reg. No.:	02931622
Legal Form :	Private Limited with Share Capital
Line of Business :	· Wholesale of Household Goods (Other than Musical Instrument) N.E.C. · Wholesale of China Wallpaper.
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 :	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.

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

Company Name:	FAIRMONT & MAIN LIMITED
Company No:	02931622
Company Status:	Active - Accounts Filed

DIRECTORS/MANAGEMENT

Current Directors

Name	Glennis Anne Harrison	Date of Birth	11/08/1944
Officers Title	Mrs	Nationality	British
Present Appointments	5	Function	Director
Appointment Date	20/05/1994
Address	Jubilee Park Jubilee Way, Grange Moor, West Yorkshire, WF4 4TD

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Philip Vaughan Harrison	2	1
Thomas Brennan	0	1
Ann Brennan	0	2
Ann Brennan	0	2
LONDON LAW SERVICES LIMITED	1697	53451
LONDON LAW SECRETARIAL LIMITED	1799	53393

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
GLENNIS ANNE HARRISON	GBP	5,000	ORDINARY	0.01
EXECUTORS OF P.V. HARRISON	GBP	5,000	ORDINARY	0.01

Unable to report percentage holdings as filed Shareholder listing is not full.

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group structure

No group structure

FINANCIAL INFORMATION

Profit & Loss

Date Of Accounts	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09
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	£16,105	-14.1%	£18,741	-10.6%	£20,974	-7.2%	£22,595	-7.6%	£24,454
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09
Tangible Assets	£1,237,921	-1.2%	£1,252,773	-2.2%	£1,281,019	-1.5%	£1,300,683	-1.5%	£1,320,583
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£1,237,921	-1.2%	£1,252,773	-2.2%	£1,281,019	-1.5%	£1,300,683	-1.5%	£1,320,583
Stock	£511,722	-10.3%	£570,306	6.8%	£533,847	-16.1%	£636,542	-3.2%	£657,677
Trade Debtors	£325,825	-7.3%	£351,465	-26.8%	£480,160	-7.3%	£517,878	14.6%	£451,969
Cash	£5,133	-46.8%	£9,653	659.5%	£1,271	-84.6%	£8,236	-35%	£12,680
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£842,680	-9.5%	£931,424	-8.3%	£1,015,278	-12.7%	£1,162,656	3.6%	£1,122,326
Trade Creditors	£828,777	-5.2%	£874,052	0.2%	£872,015	-9.2%	£960,244	1.5%	£946,338
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	£828,777	-5.2%	£874,052	0.2%	£872,015	-9.2%	£960,244	1.5%	£946,338
Bank Loans & Overdrafts and LTL	£300,521	-18.8%	£370,105	-19.7%	£460,693	-18.2%	£563,475	-14.6%	£659,928
Other Long Term Finance	0	-	0	-	0	-	0	-100%	£210,654
Total Long Term Liabilities	£300,521	-18.8%	£370,105	-19.7%	£460,693	-18.2%	£563,475	-14.6%	£659,928

Capital & Reserves

Date Of Accounts	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09
Called Up Share Capital	£100	-	£100	-	£100	-	£100	-	£100
P & L Account Reserve	£951,203	1.2%	£939,940	-2.4%	£963,489	2.6%	£939,520	12.3%	£836,543
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£951,303	1.2%	£940,040	-2.4%	£963,589	2.6%	£939,620	12.3%	£836,643

Other Financial Items

Date Of Accounts	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09
Net Worth	£951,303	1.2%	£940,040	-2.4%	£963,589	2.6%	£939,620	12.3%	£836,643
Working Capital	£13,903	-75.8%	£57,372	-60%	£143,263	-29.2%	£202,412	15%	£175,988
Total Assets	£2,080,601	-4.7%	£2,184,197	-4.9%	£2,296,297	-6.8%	£2,463,339	0.8%	£2,442,909
Total Liabilities	£1,129,298	-9.2%	£1,244,157	-6.6%	£1,332,708	-12.5%	£1,523,719	-5.1%	£1,606,266
Net Assets	£951,303	1.2%	£940,040	-2.4%	£963,589	2.6%	£939,620	12.3%	£836,643

Cash Flow

Date Of Accounts	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	31/05/13	(%)	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£1,251,824	-4.5%	£1,310,145	-8%	£1,424,282	-5.2%	£1,503,095	0.4%	£1,496,571
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors	SIMPSON WOOD
Auditor Comments	The audit report contains no adverse comments
Bankers
Bank Branch Code

Ratios

Date Of Accounts	31/05/13	31/05/12	31/05/11	31/05/10	31/05/09
Pre-tax profit margin %	-	-	-	-	-
Current ratio	1.02	1.07	1.16	1.21	1.19
Sales/Net Working Capital	-	-	-	-	-
Gearing %	31.60	39.40	47.80	60	78.90
Equity in %	45.70	43	42	38.10	34.20
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	0.39	0.41	0.55	0.54	0.49
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	0.87	0.92	0.90	1.02	1.13
Total Debt Ratio	1.18	1.32	1.38	1.62	1.91
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

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	1	£602

Company Name	Amount	Statement Date
Martin Hogg China Merchant Ltd	£602	26/02/2013

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Enquiries Trend

There have been 40 enquiries in the last 12 months.

There are an average of 3 reports taken each month.

Current Company Secretary

Name	Glennis Anne Harrison	Date of Birth	11/08/1944
Officers Title	Mrs	Nationality	British
Present Appointments	5	Function	Company Secretary
Appointment Date	28/10/1994
Address	Jubilee Park Jubilee Way, Grange Moor, West Yorkshire, WF4 4TD
Other Actions		View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Status History

No Status History found

Event History

Date	Description
06/06/2014	Annual Returns
22/01/2014	New Accounts Filed
22/01/2014	New Accounts Filed
12/12/2013	Mr P.V. Harrison has left the board
25/05/2013	Annual Returns
24/05/2013	Change in Reg.Office
26/02/2013	New Accounts Filed
26/02/2013	New Accounts Filed
26/05/2012	Annual Returns
07/03/2012	New Accounts Filed
27/05/2011	Annual Returns
05/03/2011	New Accounts Filed
05/03/2011	New Accounts Filed
11/06/2010	Annual Returns
09/03/2010	New Accounts Filed

Previous Company Names

No Previous Names found

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.

The company's credit rating has dropped from 60 to 48 but the company is still indicating it is creditworthy.

The credit limit on this company has fallen 60% in comparison to the previously suggested credit limit.

There is insufficient data to indicate a change in this company's percentage of sales.

Net Worth increased by 1.2% during the latest trading period.

A 4.7% decline in Total Assets occurred during the latest trading period.

There is insufficient data to indicate a change in this company's pre-tax profit.

The company saw a decrease in their Cash Balance of 46.8% during the latest trading period.

The audit report contains no adverse comments.

The company has undergone recent changes in its directorships.

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 has changed its registered address recently.

The company was established over 20 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.48
UK Pound	1	Rs.100.35
Euro	1	Rs.79.86

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	SDA

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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