MIRA INFORM REPORT

Report Date :

08.09.2014

IDENTIFICATION DETAILS

Name :	MIXING SOLUTIONS LIMITED

Formerly Known As :	FINLAW 369 LIMITED

Registered Office :	179 Great Portland Street London W1w 5lw

Country :	United Kingdom

Financials (as on) :	31.12.2013

Date of Incorporation :	23.07.2002

Com. Reg. No.:	04453452

Legal Form :	Private Limited Liability with Share Capital

Line of Business :	Then Design Manufacture of Agitation Equipment

No. of Employees	25

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

Company Name: MIXING SOLUTIONS LIMITED

Company No: 04453452

Company Status: Active - Accounts Filed

Registered Address: 179 GREAT PORTLAND STREET LONDON W1W 5LW

DIRECTORS/MANAGEMENT

Total Current Directors	4
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	7

Current Directors

Name	Thomas Ferdinand Paul May	Date of Birth	07/01/1938
Officers Title	Mr	Nationality	British
Present Appointments	13	Function	Director
Appointment Date	10/07/2002
Address	Lower Penn House, Hilmarton, Calne, SN11 8SA
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Candice Samantha Jackson	Date of Birth	03/08/1977
Officers Title	Ms	Nationality	South African
Present Appointments	1	Function	Director
Appointment Date	20/04/2010
Address	Unit J Venture House, Bone Lane, Newbury, RG14 5SH
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Timothy Dwyer	Date of Birth	24/01/1964
Officers Title	Mr	Nationality	American
Present Appointments	1	Function	Director
Appointment Date	04/01/2013
Address	Unit J Venture House Bone Lane, Newbury, RG14 5SH
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Mark Edgar Self	Date of Birth	12/11/1956
Officers Title	Mr	Nationality	American
Present Appointments	1	Function	Director
Appointment Date	10/07/2014
Address	1221 East Main Street, Palmyra, Pennsylvania Philadelphia, 17078
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	FILEX SERVICES LIMITED	Date of Birth	-
Officers Title		Nationality	British
Present Appointments	101	Function	Company Secretary
Appointment Date	02/06/2002
Address	179 Great Portland Street, London, W1W 5LS

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Laurence Heck	0	1
FILEX NOMINEES LIMITED	35	244
Peter John Knights	0	1
John Richard Brace	0	1
Carl Douglas Anders Rapp	0	1
Simon Colin Maxwell Hunt	1	2
Greogory Andrew Gilligan	0	1

NEGATIVE INFORMATION

Mortgage Summary

Total Mortgage

Outstanding

Satisfied

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

Mortgage Details

Mortgage Type:	CHARGE OF DEPOSIT
Date Charge Created:	16/06/06
Date Charge Registered:	21/06/06
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ALL DEPOSITS NOW AND IN THE FUTURE CREDITED TO ACCOUNT DESIGNATION 62072420 WITH THE BANK AND ANY DEPOSIT OR ACCOUNT OFANY OTHER DESCRIPTION OR DESIGNATION WHICH DERIVES IN WHOLE OR IN PART FROM SUCHDEPOSITS OR ACCOUNT

Mortgage Type:	CHARGE OF DEPOSIT
Date Charge Created:	16/06/06
Date Charge Registered:	21/06/06
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ALL DEPOSITS NOW AND IN THE FUTURE CREDITED TO ACCOUNT DESIGNATION 140/01/10391770 WITH THE BANK ANDANY DEPOSIT OR ACCOUNT OF ANY OTHER DESCRIPTION OR DESIGNATION WHICH DERIVES IN WHOLE OR IN PART FROM SUCH DEPOSITS OR ACCOUNT

Mortgage Type:	CHARGE OF DEPOSIT
Date Charge Created:	16/06/06
Date Charge Registered:	21/06/06
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ALL DEPOSITS NOW AND IN THE FUTURE CREDITED TO ACCOUNT DESIGNATION 550/01/65000668 WITH THE BANK ANDANY DEPOSIT OR ACCOUNT OF ANY OTHER DESCRIPTION OR DESIGNATION WHICH DERIVES IN WHOLE OR IN PART FROM SUCH DEPOSITS OR ACCOUNT

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
PHILADELPHIA MIXING SOLUTIONS LIMITED	GBP	2	ORDINARY	1	100

PAYMENT INFORMATION

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade

Total Value of Documented Trade

£0

Trade Payment Information

Average Invoice Value	677.25
Invoices available	125
Paid	120
Outstanding	5

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

Average Invoice Value	£677.25
Invoices available	125
Paid	120
Outstanding	5

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	74	16	17	12	1
Outstanding	0	0	2	1	2

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	3 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status	Wholly Owned
Ultimate Holding Company	AMERICAN MANUFACTUREING CORP

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
AMERICAN MANUFACTUREING...	N/A	-	-
PHILADELPHIA MIXING SO...	N/A	-	-
MIXING SOLUTIONS LIM...	04453452	31.12.2013	N	£4,425,768

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	£4,425,768	-20.6%	£5,574,628	-5.1%	£5,874,404	58.1%	£3,715,256	-57.2%	£8,675,306
Export	£3,994,866	-25.5%	£5,362,886	-3.2%	£5,540,064	63.3%	£3,392,982	-59.2%	£8,317,818
Cost of Sales	£1,792,633	-38.1%	£2,897,442	13.4%	£2,555,648	37%	£1,866,083	-65.6%	£5,429,676
Gross Profit	£2,633,135	-1.6%	£2,677,186	-19.3%	£3,318,756	79.5%	£1,849,173	-43%	£3,245,630
Wages & Salaries	£1,172,443	1.9%	£1,150,973	-2.3%	£1,178,192	-5.2%	£1,242,273	281%	£326,043
Directors Emoluments	£114,364	-10.6%	£127,963	37.5%	£93,063	-42.4%	£161,526	-6.1%	£172,096
Operating Profit	£808,653	-14.2%	£942,052	-40.9%	£1,595,079	284.8%	-£863,274	-355.8%	£337,461
Depreciation	£91,342	19.8%	£76,265	4.2%	£73,199	-56.5%	£168,128	-2.8%	£172,972
Audit Fees	£26,500	-7.8%	£28,743	9.3%	£26,289	3.1%	£25,500	4.1%	£24,500
Interest Payments	£247,151	-7.9%	£268,254	-6.6%	£287,269	-22.9%	£372,737	-7.7%	£403,701
Pre Tax Profit	£637,288	-25.7%	£857,596	-36.2%	£1,344,529	202.5%	-£1,311,406	-420.8%	£408,743
Taxation	-£233,043	-43.6%	-£162,232	-999.9%	-£11,271	-274.2%	£6,471	209%	-£5,935
Profit After Tax	£404,245	-41.9%	£695,364	-47.8%	£1,333,258	202.2%	-£1,304,935	-424%	£402,808
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	£404,245	-41.9%	£695,364	-47.8%	£1,333,258	202.2%	-£1,304,935	-424%	£402,808

Balance Sheet

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Tangible Assets	£316,961	2.6%	£308,859	14.7%	£269,215	-10.4%	£300,525	-5.4%	£317,598
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£316,961	2.6%	£308,859	14.7%	£269,215	-10.4%	£300,525	-5.4%	£317,598
Stock	£1,266,139	32.7%	£954,396	-44.6%	£1,723,027	106.7%	£833,698	-26.6%	£1,135,439
Trade Debtors	£1,111,769	70.1%	£653,591	-55.3%	£1,461,709	159.8%	£562,678	-81.4%	£3,023,999
Cash	£1,351,655	6.1%	£1,273,558	18.4%	£1,075,520	6.5%	£1,009,858	381.2%	£209,883
Other Debtors	£187,627	-53.4%	£402,711	0.3%	£401,573	25.2%	£320,872	24.7%	£257,305
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£3,917,190	19.3%	£3,284,256	-29.6%	£4,661,829	70.9%	£2,727,106	-41.1%	£4,626,626
Trade Creditors	£611,994	12.6%	£543,485	-19.1%	£672,025	-7.9%	£729,745	-2.7%	£749,708
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	£3,593,052	-6.3%	£3,832,962	-24.3%	£5,064,103	-1.1%	£5,118,101	-10.8%	£5,735,956
Miscellaneous Current Liabilities	£1,166,146	52.2%	£766,086	-43.6%	£1,357,333	99.8%	£679,387	20.4%	£564,359
Total Current Liabilities	£5,371,192	4.4%	£5,142,533	-27.5%	£7,093,461	8.7%	£6,527,233	-7.4%	£7,050,023
Bank Loans & Overdrafts and LTL	£52,000	18.5%	£43,868	-65.2%	£126,233	3.2%	£122,306	-42.1%	£211,174
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£52,000	18.5%	£43,868	-65.2%	£126,233	3.2%	£122,306	-42.1%	£211,174

Capital & Reserves

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Called Up Share Capital	£2	-	£2	-	£2	-	£2	-	£2
P & L Account Reserve	-£1,318,536	23.5%	-£1,722,781	28.8%	-£2,418,145	35.5%	-£3,751,403	-53.3%	-£2,446,468
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£129,493	-	£129,493	-	£129,493	-	£129,493	-	£129,493
Shareholder Funds	-£1,189,041	25.4%	-£1,593,286	30.4%	-£2,288,650	36.8%	-£3,621,908	-56.3%	-£2,316,973

Other Financial Items

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Worth	-£1,189,041	25.4%	-£1,593,286	30.4%	-£2,288,650	36.8%	-£3,621,908	-56.3%	-£2,316,973
Working Capital	-£1,454,002	21.8%	-£1,858,277	23.6%	-£2,431,632	36%	-£3,800,127	-56.8%	-£2,423,397
Total Assets	£4,234,151	17.8%	£3,593,115	-27.1%	£4,931,044	62.9%	£3,027,631	-38.8%	£4,944,224
Total Liabilities	£5,423,192	4.6%	£5,186,401	-28.2%	£7,219,694	8.6%	£6,649,539	-8.4%	£7,261,197
Net Assets	-£1,189,041	25.4%	-£1,593,286	30.4%	-£2,288,650	36.8%	-£3,621,908	-56.3%	-£2,316,973

Cash Flow

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Cashflow from Operations	£829,041	-47.2%	£1,569,891	310.3%	£382,626	-80.9%	£2,003,086	-27.4%	£2,759,076
Net Cashflow before Financing	£305,919	-71%	£1,053,187	999.9%	£65,661	-95.7%	£1,513,188	-36.2%	£2,370,410
Net Cashflow from Financing	-£242,146	71.7%	-£855,149	-	-	100%	-£713,213	83.5%	-£4,332,559
Increase in Cash	£63,773	-67.8%	£198,038	201.6%	£65,661	-91.8%	£799,975	140.8%	-£1,962,149

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	-£1,137,041	26.6%	-£1,549,418	28.3%	-£2,162,417	38.2%	-£3,499,602	-66.2%	-£2,105,799
Number of Employees	25	4.2%	24	-7.7%	26	-7.1%	28	-26.3%	38
Auditors	PRICEWATERHOUSECOOPERS LLP
Auditor Comments	The audit report contains no adverse comments
Bankers
Bank Branch Code

Ratios

Date Of Accounts	31/12/13	31/12/12	31/12/11	31/12/10	31/12/09
Pre-tax profit margin %	14.40	15.38	22.89	-35.30	4.71
Current ratio	0.73	0.64	0.66	0.42	0.66
Sales/Net Working Capital	-3.04	-3	-2.42	-0.98	-3.58
Gearing %	-4.40	-2.80	-5.50	-3.40	-9.10
Equity in %	-28.10	-44.30	-46.40	-119.60	-46.90
Creditor Days	50.33	35.48	41.64	71.49	31.45
Debtor Days	91.43	42.67	90.57	55.12	126.88
Liquidity/Acid Test	0.49	0.45	0.41	0.29	0.49
Return On Capital Employed %	-56.04	-55.34	-62.17	37.47	-19.41
Return On Total Assets Employed %	15.05	23.86	27.26	-43.31	8.26
Current Debt Ratio	-4.51	-3.22	-3.09	-1.80	-3.04
Total Debt Ratio	-4.56	-3.25	-3.15	-1.83	-3.13
Stock Turnover Ratio %	28.60	17.12	29.33	22.43	13.08
Return on Net Assets Employed %	-53.59	-53.82	-58.74	36.20	-17.64

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Commentary

No exact match CCJs are recorded against the company.
The credit limit on this company has risen 3.8% in comparison to the previously suggested credit limit.
Sales in the latest trading period decreased 20.6% on the previous trading period.
Net Worth increased by 25.4% during the latest trading period.
A 17.8% growth in Total Assets occurred during the latest trading period.

There has been no significant change in the company's credit rating.
Pre-tax profits decreased by 25.7% compared to the previous trading period.
The company saw an increase in their Cash Balance of 6.1% 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 was established over 12 years ago.

Enquiries Trend

There have been 35 enquiries in the last 12 months.

There are an average of 3 reports taken each month.

	3 MONTHS	6 MONTHS	9 MONTHS
Enquiries	6	18	28

Status History

No Status History found

*Event History

Date	Description
03/09/2014	New Accounts Filed
27/08/2014	G.A. Gilligan has left the board
27/08/2014	New Board Member Mr M.E. Self appointed
20/06/2014	Annual Returns
30/09/2013	New Accounts Filed
22/06/2013	Annual Returns
21/06/2013	Annual Returns
13/06/2013	Annual Returns
10/06/2013	New Board Member G.A. Gilligan appointed
23/01/2013	L. Heck has left the board
23/01/2013	New Board Member Mr T. Dwyer appointed
13/07/2012	New Accounts Filed
13/07/2012	New Accounts Filed
23/06/2012	Annual Returns
19/04/2012	Change of Company Postcode

Previous Company Names

Date	Previous Name
23/07/2002	FINLAW 369 LIMITED

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.44
UK Pound	1	Rs.98.64
Euro	1	Rs.78.20

INFORMATION DETAILS

Analysis Done by :	SUM

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.