MIRA INFORM REPORT

Report Date :

23.09.2014

IDENTIFICATION DETAILS

Name :	HAQS LIMITED

Registered Office :	16 Legrams Lane, Bradford, West Yorkshire BD7 1 ND

Country :	United Kingdom

Financials (as on) :	30.06.2013

Date of Incorporation :	25.06.1998

Com. Reg. No.:	03587166

Legal Form :	Private Limited With Share Capital

Line of Business :	Subject is engaged in Retail Non-Specialized Stores, Food.

No of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
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

Company Name & address

COMPANY NAME: HAQS LIMITED

COMPANY NO.: 03587166

COMPANY STATUS: Active-Accounts Filed

REGISTERED ADDRESS: 16 Legrams Lane, Bradford, West Yorkshire BD7 1 ND

Company summary

REGISTERED ADDRESS: 16 Legrams Lane, Bradford, West Yorkshire BD7 1 ND

TRADING ADDRESS: 16 Legrams Lane, Bradford, West Yorkshire BD7 1 ND

Website Address: http://www.haqs.co.uk

TYPE: Private Limited With Share Capital

FILING DATE OF ACCOUNTS: 04.09.2014

SHARE CAPITAL: £ 150

TELEPHONE NO.: 01274371113

TPS: Yes

INCORPORATION DATE: 25.06.1998

CURRENCY: GBP

SIC07: 47190

SIC07 DESCRIPTION: Other Retail Sale in Non-Specialized Stores

PRINCIPAL ACTIVITY: Retail Non-Specialized Stores, Food.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
30.06.2013	--	--	- £58,365	--
30.06.2012	--	--	£ 2,663	--
30.06.2011	--	--	£ 5,285	--

Mortgage summary

Total Mortgage 6

Outstanding 4

Satisfied 2

Trade Debtors/ Bad debt summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

Net Worth decreased by 49% during the latest trading period.

A 5.7% decline in Total Assets occurred during the latest trading period.

The company saw a decrease in their Cash Balance of 44.6% during the latest trading period.

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

No exact match CCJs are recorded against the company.

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 is exempt from audit.

The company has undergone recent changes in its directorships.

The company is not part of a group.

The company was established over 16 years ago.

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 -	-

Total Current Directors	1
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	6

Current Directors

Name	Nergis Begum Khan	Date of Birth	16/04/1956
Officers Title	Mrs	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	20/09/2013
Address	73 Crow Tree Lane, Bradford, West Yorkshire, BD8 0AN
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	Nergis Begum Khan	Date of Birth	16/04/1956
Officers Title		Nationality	British
Present Appointments	3	Function	Company Secretary
Appointment Date	02/07/2000
Address	73 Crowtree Lane, Bradford, West Yorkshire, BD8 0AN
Other Actions		View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
N.B. KHAN	GBP	150	ORDINARY	1	100

Profit & loss

Date Of Accounts	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10	(%)	30/06/09
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	£13,328	-15%	£15,686	-9.9%	£17,406	-9.9%	£19,327	-14.6%	£22,629
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance sheet

Date Of Accounts	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10	(%)	30/06/09
Tangible Assets	£81,783	-14%	£95,111	-9.2%	£104,750	-9.3%	£115,456	-13.8%	£133,872
Intangible Assets	£80,150	-16.2%	£95,600	-13.9%	£111,050	-12.2%	£126,500	-10.9%	£141,950
Total Fixed Assets	£161,933	-15.1%	£190,711	-11.6%	£215,800	-10.8%	£241,956	-12.3%	£275,822
Stock	£107,520	7.1%	£100,362	30.9%	£76,672	-20.1%	£95,917	40%	£68,492
Trade Debtors	£67,647	56%	£43,356	-4.9%	£45,611	24.3%	£36,685	-13.3%	£42,334
Cash	£19,719	-44.6%	£35,586	-30.4%	£51,098	174.2%	£18,632	-32.2%	£27,494
Other Debtors	0	-100%	£8,193	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£194,886	3.9%	£187,497	8.1%	£173,381	14.6%	£151,234	9.3%	£138,320
Trade Creditors	£362,866	18.6%	£306,031	3.7%	£295,138	15.4%	£255,721	-14.5%	£298,934
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	£362,866	18.6%	£306,031	3.7%	£295,138	15.4%	£255,721	-14.5%	£298,934
Bank Loans & Overdrafts and LTL	£52,318	-24.7%	£69,514	-21.7%	£88,758	-39.2%	£145,942	39.1%	£104,912
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£52,318	-24.7%	£69,514	-21.7%	£88,758	-39.2%	£145,942	39.1%	£104,912

Capital & Reserves

Date Of Accounts	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10	(%)	30/06/09
Called Up Share Capital	£150	-	£150	-	£150	-	£150	-	£150
P & L Account Reserve	-£58,515	-999.9%	£2,513	-51.1%	£5,135	159.6%	-£8,623	-185%	£10,146
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	-£58,365	-999.9%	£2,663	-49.6%	£5,285	162.4%	-£8,473	-182.3%	£10,296

Other Financial Items

Date Of Accounts	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10	(%)	30/06/09
Net Worth	-£138,515	-49%	-£92,937	12.1%	-£105,765	21.6%	-£134,973	-2.5%	-£131,654
Working Capital	-£167,980	-41.7%	-£118,534	2.6%	-£121,757	-16.5%	-£104,487	34.9%	-£160,614
Total Assets	£356,819	-5.7%	£378,208	-2.8%	£389,181	-1%	£393,190	-5.1%	£414,142
Total Liabilities	£415,184	10.6%	£375,545	-2.2%	£383,896	-4.4%	£401,663	-0.5%	£403,846
Net Assets	-£58,365	-999.9%	£2,663	-49.6%	£5,285	162.4%	-£8,473	-182.3%	£10,296

Cash Flow

Date Of Accounts	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10	(%)	30/06/09
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10	(%)	30/06/09
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	-£6,047	-108.4%	£72,177	-23.3%	£94,043	-31.6%	£137,469	19.3%	£115,208
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers
Bank Branch Code

Ratios

Date Of Accounts	30/06/13	30/06/12	30/06/11	30/06/10	30/06/09
Pre-tax profit margin %	-	-	-	-	-
Current ratio	0.54	0.61	0.59	0.59	0.46
Sales/Net Working Capital	-	-	-	-	-
Gearing %	-89.60	2610.40	1679.40	-1722.40	1019
Equity in %	-21.10	0.90	1.90	-3.20	3.80
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	0.24	0.28	0.32	0.21	0.23
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	-6.21	114.91	55.84	-30.18	29.03
Total Debt Ratio	-7.11	141.02	72.63	-47.40	39.22
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

Status History

No Status History found

Event History

Date	Description
22/03/2014	Annual Returns	View Document
21/03/2014	New Accounts Filed	View Document
24/09/2013	Mr A.H. Khan has left the board	View Document
24/09/2013	New Board Member Mrs N.B. Khan appointed	View Document
09/04/2013	Mr A. Khan has left the board	View Document
06/03/2013	New Accounts Filed	View Document
26/02/2013	Annual Returns	View Document
22/02/2013	New Board Member Mr A. Khan appointed	View Document
03/07/2012	Annual Returns	View Document
21/02/2012	New Accounts Filed	View Document
08/07/2011	Annual Returns	View Document
13/10/2010	New Accounts Filed	View Document
10/07/2010	Annual Returns	View Document
13/03/2010	New Accounts Filed	View Document
07/08/2009	Annual Returns	View Document

Previous company names

No Precious Names Found

Group structure

No Group Structure

Mortgage Details

Mortgage Type:	DEBENTURE
Date Charge Created:	23/06/11
Date Charge Registered:	25/06/11
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY SEE IMAGEFOR FULL DETAILS
Mortgage Type:	DEBENTURE
Date Charge Created:	04/03/08
Date Charge Registered:	14/03/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY

Mortgage Type:	DEBENTURE
Date Charge Created:	01/11/04
Date Charge Registered:	05/11/04
Date Charge Satisfied:	26/02/10
Status:	SATISFIED
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:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY
Mortgage Type:	RENT DEPOSIT DEED
Date Charge Created:	08/09/04
Date Charge Registered:	14/09/04
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	ST MARTINS PROPERTY INVESTMENTS LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE
Details:	THE DEPOSIT ACCOUNT FROM TIME TO TIME HELD IN THE INTEREST EARNING DEPOSIT ACCOUNT

Mortgage Type:	RENT DEPOSIT DEED
Date Charge Created:	15/05/02
Date Charge Registered:	24/05/02
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	ST MARTINS PROPERTY INVESTMENTS LIMITED
Amount Secured:	£12,000 DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE
Details:	16 LEGRAMS LANE, BRADFORD, BD7 1ND
Mortgage Type:	DEBENTURE
Date Charge Created:	09/01/01
Date Charge Registered:	12/01/01
Date Charge Satisfied:	30/04/05
Status:	SATISFIED
Person(s) Entitled:	HSBC BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Previous Director/ Company Secretaries

Name	Current Directorships	Previous Directorships
Saleem Ahmed	5	1
Abdul Hamed Khan	1	1
Kaleem Ahmed	5	3
YORK PLACE COMPANY NOMINEES LIMITED	734	31909
YORK PLACE COMPANY SECRETARIES LIMITED	832	31479
Adil Khan	4	1

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.79
UK Pound	1	Rs.99.30
Euro	1	Rs.78.16

INFORMATION DETAILS

Analysis Done by :	SUM

Report Prepared by :	TPT

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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