MIRA INFORM REPORT

Report No. :	316348
Report Date :	09.04.2015

IDENTIFICATION DETAILS

Name :	LUSH LTD.

Formerly Known As :	COSMETIC HOUSE LIMITED

Registered Office :	29 High Street, Poole, Dorset, BH15 1AB

Country :	United Kingdom

Financials (as on) :	30.06.2014

Date of Incorporation :	17.06.1994

Com. Reg. No.:	02940032

Legal Form :	Private Limited with Share Capital

Line of Business :	Manufacture of Perfumes And Toilet Preparations

No. of Employee :	190

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 – 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 Name

LUSH LTD.

Company No:

02940032

Company Status:

Active - Accounts Filed

Company Summary

Registered Address

29 HIGH STREET
POOLE
DORSET
BH15 1AB

Trading Address

29A High Street
Poole
Dorset
BH15 1AB

Website Address

http://www.lush.co.uk

Telephone Number 01202661822

Fax Number -

TPS No

FPS No

Incorporation Date 17/06/1994

Previous Name COSMETIC HOUSE LIMITED

Type Private limited with Share Capital

FTSE Index –

Date of Change 10/04/1995

Filing Date of Accounts 20/02/2015

Currency GBP

Share Capital £11,976

SIC07 20420

Charity Number -

SIC07 Description MANUFACTURE OF PERFUMES AND TOILET PREPARATIONS

Principal Activity

Production of cosmetic products and holds investments.

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

30/06/2014 £40,326,618 £19,453,262 £37,892,796 190

30/06/2013 £37,275,642 £8,680,350 £23,732,694 170

30/06/2012 £30,701,361 £8,794,031 £15,898,925 120

Mortgage Summary

Total Mortgage 9

Outstanding 7

Satisfied 2

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 1

Total Value of Documented Trade £15,750

Commentary

This company has been treated as a Large company in respect of the rating/limit generated.
This company's return on total assets employed ratio indicates a highly efficient use of assets.
This company has made late payments on a medium percentage of invoices.
This company's ratio of total liabilities to total assets indicates the presence of moderate equity funding.
The company has more cash than short term bank borrowings.
This company trades in an industry with a moderate level of corporate failures.

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	2	Total Value of Possible CCJs -	£2,237
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	-

Total Current Directors	5
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	7

Current Directors

Name	Mark Constantine	Date of Birth	21/07/1952
Officers Title	Mr	Nationality	British
Present Appointments	12	Function	Director
Appointment Date	27/02/1995
Address	24 Constitution Hill Road, Poole, Dorset, BH14 0QD
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Margaret Joan Constantine	Date of Birth	24/06/1953
Officers Title	Ms	Nationality	British
Present Appointments	9	Function	Director
Appointment Date	17/06/1994
Address	24 Constitution Hill Road, Poole, Dorset, BH14 0QD
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Rowena Jaqueline Bird	Date of Birth	19/10/1959
Officers Title	Ms	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	17/09/2001
Address	29 High Street, Poole, Dorset, BH15 1AB
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Karl Joseph Bygrave	Date of Birth	05/07/1962
Officers Title	Mr	Nationality	British
Present Appointments	14	Function	Director
Appointment Date	20/06/2005
Address	29 High Street, Poole, Dorset, BH15 1AB
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Hilary Anita Jones	Date of Birth	28/09/1962
Officers Title	Ms	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	01/03/2012
Address	29 High Street, Poole, Dorset, BH15 1AB
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	Karl Joseph Bygrave	Date of Birth	05/07/1962
Officers Title	Mr	Nationality	British
Present Appointments	14	Function	Company Secretary
Appointment Date	27/11/2006
Address	29 High Street, Poole, Dorset, BH15 1AB
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
LUSH COSMETICS LTD	GBP	11,976	ORDINARY	1	100

Profit & Loss

Date Of Accounts	30/06/14	(%)	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£40,326,618	8.2%	£37,275,642	21.4%	£30,701,361	22.1%	£25,135,551	17.4%	£21,402,171
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	£10,996,221	8.6%	£10,121,270	21.4%	£8,335,644	21.2%	£6,879,683	11.4%	£6,176,955
Gross Profit	£29,330,397	8%	£27,154,372	21.4%	£22,365,717	22.5%	£18,255,868	19.9%	£15,225,216
Wages & Salaries	£11,004,061	50%	£7,337,491	2.6%	£7,150,950	46.9%	£4,869,543	-16.5%	£5,830,930
Directors Emoluments	£1,238,668	33.7%	£926,197	-37.9%	£1,492,066	79.9%	£829,177	-38.2%	£1,340,793
Operating Profit	£4,489,473	-24.4%	£5,939,619	43.8%	£4,130,219	100.8%	£2,056,779	-43.9%	£3,668,175
Depreciation	£496,623	20.3%	£412,865	8%	£382,153	6.4%	£359,053	29.3%	£277,790
Audit Fees	£16,500	47.8%	£11,166	3%	£10,841	14.5%	£9,469	3%	£9,193
Interest Payments	£401,426	-5.5%	£424,655	60.7%	£264,284	-20.2%	£331,181	-15.2%	£390,537
Pre Tax Profit	£19,453,262	124.1%	£8,680,350	-1.3%	£8,794,031	175.9%	£3,187,317	-51%	£6,503,989
Taxation	-£952,301	-12.5%	-£846,581	42.2%	-£1,465,289	21.4%	-£1,863,505	-28.9%	-£1,445,291
Profit After Tax	£18,500,961	136.2%	£7,833,769	6.9%	£7,328,742	453.6%	£1,323,812	-73.8%	£5,058,698
Dividends Payable	-	-	-	-100%	£5,813,800	220.3%	£1,815,000	39.6%	£1,300,000
Retained Profit	£18,500,961	136.2%	£7,833,769	417.1%	£1,514,942	408.4%	-£491,188	-113.1%	£3,758,698

Balance Sheet

Date Of Accounts	30/06/14	(%)	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10
Tangible Assets	£30,346,494	73.3%	£17,508,417	6.9%	£16,381,757	13.2%	£14,470,139	22.9%	£11,774,854
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£30,346,494	73.3%	£17,508,417	6.9%	£16,381,757	13.2%	£14,470,139	22.9%	£11,774,854
Stock	£1,563,768	-20.2%	£1,958,710	37.1%	£1,429,180	0.6%	£1,420,549	-10.4%	£1,584,663
Trade Debtors	0	-100%	£5,975	-50.2%	£12,010	-96.9%	£392,753	999.9%	£14,880
Cash	£2,253,947	139.8%	£939,794	142.9%	£386,959	-52.5%	£814,377	33.4%	£610,457
Other Debtors	£46,206,576	124.2%	£20,611,575	27.9%	£16,113,790	10.4%	£14,592,997	-25.2%	£19,504,135
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£50,024,291	112.7%	£23,516,054	31.1%	£17,941,939	4.2%	£17,220,676	-20.7%	£21,714,135
Trade Creditors	£1,458,270	35.3%	£1,077,694	-27.4%	£1,484,248	-10.7%	£1,662,156	54.1%	£1,078,582
Bank Loans & Overdrafts	0	-	0	-100%	£612,075	22.4%	£500,000	25%	£400,000
Other Short Term Finance	£34,095,339	147%	£13,801,663	32.4%	£10,425,743	67.7%	£6,217,273	24.6%	£4,988,817
Miscellaneous Current Liabilities	£3,907,644	62%	£2,412,420	26%	£1,915,205	-27.1%	£2,627,403	7.4%	£2,446,419
Total Current Liabilities	£39,461,253	128.2%	£17,291,777	19.8%	£14,437,271	31.2%	£11,006,832	23.5%	£8,913,818
Bank Loans & Overdrafts and LTL	£3,016,736	-	0	-100%	£4,599,575	-32.4%	£6,800,000	-32.7%	£10,100,000
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£3,016,736	-	0	-100%	£3,987,500	-36.7%	£6,300,000	-35.1%	£9,700,000

Capital & Reserves

Date Of Accounts	30/06/14	(%)	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10
Called Up Share Capital	£11,976	15.9%	£10,335	-	£10,335	-	£10,335	-	£10,335
P & L Account Reserve	£36,374,737	63.7%	£22,216,276	54.5%	£14,382,507	11.8%	£12,867,565	-3.7%	£13,358,753
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£1,506,083	-	£1,506,083	-	£1,506,083	-	£1,506,083	-	£1,506,083
Shareholder Funds	£37,892,796	59.7%	£23,732,694	49.3%	£15,898,925	10.5%	£14,383,983	-3.3%	£14,875,171

Other Financial Items

Date Of Accounts	30/06/14	(%)	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10
Net Worth	£37,892,796	59.7%	£23,732,694	49.3%	£15,898,925	10.5%	£14,383,983	-3.3%	£14,875,171
Working Capital	£10,563,038	69.7%	£6,224,277	77.6%	£3,504,668	-43.6%	£6,213,844	-51.5%	£12,800,317
Total Assets	£80,370,785	95.9%	£41,024,471	19.5%	£34,323,696	8.3%	£31,690,815	-5.4%	£33,488,989
Total Liabilities	£42,477,989	145.7%	£17,291,777	-6.1%	£18,424,771	6.5%	£17,306,832	-7%	£18,613,818
Net Assets	£37,892,796	59.7%	£23,732,694	49.3%	£15,898,925	10.5%	£14,383,983	-3.3%	£14,875,171

Cash Flow

Date Of Accounts	30/06/14	(%)	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	30/06/14	(%)	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10
Contingent Liability	YES	-	YES	-	YES	-	YES	-	NO
Capital Employed	£40,909,532	72.4%	£23,732,694	19.3%	£19,886,425	-3.9%	£20,683,983	-15.8%	£24,575,171
Number of Employees	190	11.8%	170	41.7%	120	22.4%	98	16.7%	84
Auditors	PRICEWATERHOUSECOOPERS LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	BARCLAYS BANK PLC
Bank Branch Code

Ratios

Date Of Accounts	30/06/14	30/06/13	30/06/12	30/06/11	30/06/10
Pre-tax profit margin %	48.24	23.29	28.64	12.68	30.39
Current ratio	1.27	1.36	1.24	1.56	2.44
Sales/Net Working Capital	3.82	5.99	8.76	4.05	1.67
Gearing %	8	0	28.90	47.30	67.90
Equity in %	47.10	57.90	46.30	45.40	44.40
Creditor Days	13.16	10.52	17.59	24.07	18.34
Debtor Days	-	0.05	0.14	5.68	0.25
Liquidity/Acid Test	1.22	1.24	1.14	1.43	2.25
Return On Capital Employed %	47.55	36.57	44.22	15.40	26.46
Return On Total Assets Employed %	24.20	21.15	25.62	10.05	19.42
Current Debt Ratio	1.04	0.72	0.90	0.76	0.59
Total Debt Ratio	1.12	0.72	1.15	1.20	1.25
Stock Turnover Ratio %	3.87	5.25	4.65	5.65	7.40
Return on Net Assets Employed %	51.33	36.57	55.31	22.15	43.72

Event History

Date	Description
07/03/2015	New Accounts Filed
31/12/2014	Mr A.M. Gerrie has left the board
06/06/2014	Annual Returns
14/01/2014	New Accounts Filed
25/12/2013	Annual Returns
23/12/2013	Annual Returns
23/12/2013	Annual Returns
25/06/2013	Annual Returns
22/05/2013	New Accounts Filed
19/06/2012	Annual Returns
15/06/2012	New Board Member Ms H.A. Jones appointed
06/04/2012	New Accounts Filed
07/06/2011	Annual Returns
09/04/2011	New Accounts Filed
31/07/2010	Annual Returns

Previous Company Names

Date	Previous Name
10/04/1995	COSMETIC HOUSE LIMITED

Writ Details

No writs found

Statistics

Group	6 companies
Linkages	2 companies
Countries	In 2 countries

Summary

Holding Company	LUSH COSMETICS LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	LUSH COSMETICS LIMITED

Group Structure Full

Company Name	Safe Number	Registered Number	Latest Key Financials	Consol. Accounts	Rating	Limit	Turnover
$Description: \\vivek\Foreign Report Raw2\LUSH LTD_files\tminus.gif$ LUSH COSMETICS LIMITED	UK03812486	04162033	30.06.2014	Y	95	£3,550,000	£282,467,000
$Description: \\vivek\Foreign Report Raw2\LUSH LTD_files\tminus.gif$ LUSH LTD.	UK02599964	02940032	30.06.2014	N	83	£1,450,000	£40,326,618
$Description: \\vivek\Foreign Report Raw2\LUSH LTD_files\T.gif$ B NEVER TOO BUSY TO...	UK04399426	04752601	30.06.2014	N	56	£500
$Description: \\vivek\Foreign Report Raw2\LUSH LTD_files\T.gif$ LUSH MANUFACTURING L...	UK02986098	03327905	30.06.2014	N	95	£3,550,000	£62,181,773
$Description: \\vivek\Foreign Report Raw2\LUSH LTD_files\tminus.gif$ LUSH RETAIL LIMITED	UK02744078	03084750	30.06.2014	N	43	£50,000	£67,576,241
$Description: \\vivek\Foreign Report Raw2\LUSH LTD_files\L.gif$ LUSH DUBLIN LIMITED	IE00303856	IE309811	30.06.2014	N	88	€27,000	€1,925,541

Statistics

Group	6 companies
Linkages	2 companies
Countries	In 2 countries

Mortgage Details

Mortgage Type:
Date Charge Created:	31/07/13
Date Charge Registered:	06/08/13
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC AS SENIOR AGENT AND SECURITY AGENT FOR AND ON BEHALF OF THE SECURED CREDITORS;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.
Mortgage Type:
Date Charge Created:	19/07/13
Date Charge Registered:	31/07/13
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC AS SECURITY TRUSTEE AND PLEDGEE;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.

Mortgage Type:
Date Charge Created:	18/07/13
Date Charge Registered:	27/07/13
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC AS SECURITY TRUSTEE AND PLEDGEE AND AS LENDER AND PLEDGEE;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.
Mortgage Type:
Date Charge Created:	19/07/13
Date Charge Registered:	25/07/13
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC (ACTING AS SECURITY TRUSTEE FOR AND ON BEHALF OF THE FINANCE PARTIES);
Amount Secured:
Details:	NONECONTAINS FIXED CHARGE.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.

Mortgage Type:
Date Charge Created:	19/07/13
Date Charge Registered:	24/07/13
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC (ACTING AS SECURITY TRUSTEE FOR AND ON BEHALF OF THE FINANCE PARTIES);
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:	14/04/09
Date Charge Registered:	31/05/13
Date Charge Satisfied:	-
Status:	SATISFIED
Person(s) Entitled:	BANK OF SCOTLAND PLC;
Amount Secured:
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:	26/03/09
Date Charge Registered:	08/04/09
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS 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:	GUARANTEE & DEBENTURE
Date Charge Created:	23/02/01
Date Charge Registered:	02/03/01
Date Charge Satisfied:	04/01/02
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND/OR ALL OR ANY OF THE OTHERCOMPANIES NAMED THEREIN 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:	DEED OF RENTAL DEPOSIT
Date Charge Created:	24/08/95
Date Charge Registered:	08/09/95
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	IND COOPE (OXFORD & WEST) LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE PURSUANT TO THE LEASE (AS THEREIN DEFINED)
Details:	£18,250 AND ALL MONEY WITHDRAWN FROM THE DEPOSIT ACCOUNT

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	£15,750
Company Name		Amount	Statement Date
Lex Machinery (Europe) Ltd		£15,750	30/10/2014

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Susan Jean Cook	5	5
Mark Philip Fontaine	10	19
Peter Gordon Blacker	59	17
Heather June Williams	0	4
David Masterton Arnott	0	9
Andrew Martin Gerrie	12	23
Elizabeth Bennett	2	2
Average Invoice Value	£13234.23
Invoices available	208
Paid	203
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	98	64	28	4	9
Outstanding	0	3	0	0	2

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.33
UK Pound	1	Rs.92.53
Euro	1	Rs.67.60

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	ASH

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.

Name	Safe Number	Number	Latest Key Financials	Rating	Limit	Turnover
LUSH B.V.	NL02055329	34146846	30.06.2013	21	€0
LUSH SWEDEN AB	SE00946054	5565467940	30.06.2014	71	150 KSEK	41,736 KSEK