MIRA INFORM REPORT

Report No. :	315347
Report Date :	06.04.2015

IDENTIFICATION DETAILS

Name :	GEMINI DISPERSIONS LIMITED

Formerly Known As :	CASTLEGATE 374 LIMITED

Registered Office :	Holt Mill Road, Waterfoot Rossendale BB4 7JB

Country :	United Kingdom

Financials (as on) :	31.03.2014

Date of Incorporation :	16.05.2005

Com. Reg. No.:	05452955

Legal Form :	Private Limited With Share Capital

Line of Business :	Manufacture of Dyes and Pigments

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 :	Slow but correct
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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 summary

Registered Address	Holt Mill Road, Waterfoot Rossendale BB4 7JB	Trading Address	Holt Mill Road, Waterfoot Rossendale BB4 7JB
Website Address	http://www.geminidispersions.com
Telephone Number	01706214751	Company Number	05452955
TPS	No	FPS	No
Incorporation Date	16/05/2005
Previous Name	CASTLEGATE 374 LIMITED	Type	Private Limited With Share Capital
Date of Charge	05/07/2005	Filing Date of Accounts	16/12/2014
Currency	GBP	Share Capital	£300,100
SIC07	20120	Charity Number	--
SIC07 Description	Manufacture of Dyes and Pigments

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
31/03/2014	-	-	£1,289,562	-
31/03/2013	-	-	£1,385,107	-
31/03/2012	-	-	£1,015,208	-

Mortgage Summary

Total Mortgage 3

Outstanding 1

Satisfied 2

Trade Debtors/Bad Debt Summary

Total Number of Documented Trade 1

Total Value of Documented Trade £4,166

Commentary

This company has been treated as a Small company in respect of the rating/limit generated.

This company has made late payments on a medium percentage of invoices.

The latest Balance Sheet indicates a very positive net working capital position.

This company trades in an industry with a moderate level of corporate failures.

Current Directors

Name	Susan Veronica Ashby	Date of Birth	08/12/1961
Officers Title	Ms	Nationality	British
Present Appointments	7	Function	Director
Appointment Date	07/06/2005
Address	Holt Mill Road, Waterfoot, Rossendale, Lancashire, BB4 7JB

Name	Adrian George Abel	Date of Birth	05/11/1946
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Director
Appointment Date	17/11/2008
Address	Holt Mill Road, Waterfoot, Rossendale, Lancashire, BB4 7JB

Name	John Francis Nelligan	Date of Birth	15/04/1950
Officers Title	Mr	Nationality	Canadian
Present Appointments	4	Function	Director
Appointment Date	11/08/2005
Address	Holt Mill Road, Waterfoot, Rossendale, Lancashire, BB4 7JB

Name	Elias Michael Klein	Date of Birth	11/11/1946
Officers Title	Mr	Nationality	Canadian
Present Appointments	4	Function	Director
Appointment Date	11/08/2005
Address	Holt Mill Road, Waterfoot, Rossendale, Lancashire, BB4 7JB

Name	Mark John Vincent	Date of Birth	07/07/1970
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	11/08/2005
Address	Holt Mill Road, Waterfoot, Rossendale, Lancashire, BB4 7JB

Name	Jonathan Paul Rymer	Date of Birth	14/06/1972
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	01/11/2010
Address	Holt Mill Road, Waterfoot, Rossendale, Lancashire, BB4 7JB

Current Company Secretary

Name	Susan Veronica Ashby	Date of Birth	08/12/1961
Officers Title	Ms	Nationality	British
Present Appointments	7	Function	Company Secretary
Appointment Date	07/06/2005
Address	Holt Mill Road, Waterfoot, Rossendale, Lancashire, BB4 7JB

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value
DOMINION COLOUR CORPORATION (EUROPE)	GBP	3,000	PREFERENCE	100
DOMINION COLOUR CORPORATION (EUROPE)	GBP	85	ORDINARY A	1
DOMINION COLOUR CORPORATION (EUROPE)	GBP	15	ORDINARY B	1

Profit & Loss

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
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	£56,066	-7.8%	£60,826	4.1%	£58,416	8.1%	£54,060	55.8%	£34,694
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Tangible Assets	£207,208	-16%	£246,576	-17.3%	£298,166	-6.1%	£317,483	3.6%	£306,472
Intangible Assets	0	-	0	-	0	-	0	100%	-£11,596
Total Fixed Assets	£207,208	-16%	£246,576	-17.3%	£298,166	-6.1%	£317,483	7.7%	£294,876
Stock	£1,035,769	18.1%	£877,272	0.1%	£876,536	-7.8%	£950,539	15%	£826,788
Trade Debtors	£2,293,539	-9.8%	£2,542,661	25.3%	£2,029,254	22.3%	£1,659,307	25.3%	£1,323,973
Cash	£129,258	999.9%	£215	7.5%	£200	-	£200	-99.2%	£24,478
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£3,458,566	1.1%	£3,420,148	17.7%	£2,905,990	11.3%	£2,610,046	20%	£2,175,239
Trade Creditors	£1,250,778	11%	£1,127,174	-25%	£1,503,725	2.4%	£1,468,537	38.1%	£1,063,378
Bank Loans & Overdrafts	£675,997	-4.1%	£705,006	219.7%	£220,512	-35%	£339,448	-37.9%	£546,418
Other Short Term Finance	0	-	0	-100%	£8,100	-	£8,100	-	£8,100
Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	0
Total Current Liabilities	£1,926,775	5.2%	£1,832,180	5.8%	£1,732,337	-4.6%	£1,816,085	12.2%	£1,617,896
Bank Loans & Overdrafts and LTL	£1,125,434	-2.5%	£1,154,443	70.5%	£677,123	-18.4%	£829,858	-20.5%	£1,044,002
Other Long Term Finance	0	-	0	-	0	-100%	£8,100	-50%	£16,200
Total Long Term Liabilities	£449,437	-	£449,437	-1.6%	£456,611	-6.9%	£490,410	-1.4%	£497,584

Capital & Reserves

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Called Up Share Capital	£100	-	£100	-	£100	-	£100	-	£100
P & L Account Reserve	£1,289,462	-6.9%	£1,385,007	36.4%	£1,015,108	63.5%	£620,934	75.1%	£354,535
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£1,289,562	-6.9%	£1,385,107	36.4%	£1,015,208	63.5%	£621,034	75.1%	£354,635

Other Financial Items

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Net Worth	£1,289,562	-6.9%	£1,385,107	36.4%	£1,015,208	63.5%	£621,034	69.6%	£366,231
Working Capital	£1,531,791	-3.5%	£1,587,968	35.3%	£1,173,653	47.8%	£793,961	42.5%	£557,343
Total Assets	£3,665,774	0%	£3,666,724	14.4%	£3,204,156	9.4%	£2,927,529	18.5%	£2,470,115
Total Liabilities	£2,376,212	4.1%	£2,281,617	4.2%	£2,188,948	-5.1%	£2,306,495	9%	£2,115,480
Net Assets	£1,289,562	-6.9%	£1,385,107	36.4%	£1,015,208	63.5%	£621,034	75.1%	£354,635

Miscellaneous

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£1,738,999	-5.2%	£1,834,544	24.6%	£1,471,819	32.4%	£1,111,444	30.4%	£852,219
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors	BAKER TILLY UK AUDIT LLP
Auditor Comments	The audit report contains no adverse comments
Bankers
Bank Branch Code

Ratios

Date Of Accounts	31/03/14	31/03/13	31/03/12	31/03/11	31/03/10
Pre-tax profit margin %	-	-	-	-	-
Current ratio	1.80	1.87	1.68	1.44	1.34
Sales/Net Working Capital	-	-	-	-	-
Gearing %	87.30	83.30	66.70	133.60	294.40
Equity in %	35.20	37.80	31.70	21.20	14.30
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	1.25	1.38	1.17	0.91	0.83
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	1.49	1.32	1.70	2.92	4.56
Total Debt Ratio	1.84	1.64	2.15	3.71	5.96
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

Status History

No status history found

Event History

Date	Description
28/12/2014	New Accounts Filed
28/05/2014	Annual Returns
20/12/2013	New Accounts Filed
14/06/2013	Annual Returns
24/12/2012	New Accounts Filed
21/05/2012	Annual Returns
17/10/2011	Mr M. Serene has left the board
08/08/2011	New Accounts Filed
25/05/2011	Annual Returns
04/11/2010	New Board Member Mr J.P. Rymer appointed
01/11/2010	Mr P. Gabriel has left the board
12/07/2010	New Accounts Filed
14/06/2010	Annual Returns
12/06/2009	New Accounts Filed
28/05/2009	Annual Returns

Previous Company Names

Date	Previous Name
05/07/2005	CASTLEGATE 374 LIMITED

Group Structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
KNRV INVESTMENTS INC	N/A	-	-
DCC (EUROPE) INC	N/A	-	-
DOMINION COLOUR CORP...	06540698	31.03.2014	N
DOMINION COLOUR CORP (...	N/A	-	-
DCC PROPERTIES UK LI...	05452946	31.03.2014	N
GEMINI DISPERSIONS L...	05452955	31.03.2014	N
STAMPMAGNET LIMITED	04980954	31.03.2014	N

Mortgage Details

Mortgage Type:
Date Charge Created:	28/05/13
Date Charge Registered:	31/05/13
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.
Mortgage Type:	DEBENTURE
Date Charge Created:	22/06/07
Date Charge Registered:	03/07/13
Date Charge Satisfied:	-
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC;
Amount Secured:
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:	COMPOSITE GUARANTEE AND DEBENTURE
Date Charge Created:	27/10/05
Date Charge Registered:	12/11/05
Date Charge Satisfied:	03/02/11
Status:	SATISFIED
Person(s) Entitled:	ROYAL BANK OF CANADA, LONDON BRANCH
Amount Secured:
Details:	F/H PROPERTY LYING ON THE NORTH WEST SIDE OF HOLT MILL ROAD WATERFOOT ROSSENDALE LANCASHIRE T/NO LA754651FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTUREINCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERYSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Creditor Details

	Total Number	Total Value
Trade Creditors	0	-
No Creditor Data

Trade Debtors/Bad Debt Details

	Total Number of Documented Trade	Total Value of Documented Trade
Trade Debtors	1	£4,166
Company Name	Amount	Statement Date
Advance C P Ltd	£4,166	07/08/2013

Previous Director/company secretaries

Name	Current Directorships	Previous Directorships
Michael Serene	0	1
Jeffrey Henry Cox	0	1
BOISDUR-SALBRIS LINE	204	395
CASTLEGATE SECRETARIES LIMITED	80	364
Philip Gabriel	0	2

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.59
UK Pound	1	Rs.92.46
Euro	1	Rs.67.51

INFORMATION DETAILS

Analysis Done by :	KAR

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%)

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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.