MIRA INFORM REPORT

Report No. :	317437
Report Date :	16.04.2015

IDENTIFICATION DETAILS

Name :	FAYREFIELD FOODS LIMITED
Formerly Known As :	JOHN DOUGLAS KERR LIMITED
Registered Office :	Englesea House Barthomley Roadcrewecheshirecw1 5UF
Country :	United Kingdom
Financials (as on) :	31.12.2013
Date of Incorporation :	01.06.1982
Com. Reg. No.:	01639747
Legal Form :	Private limited with Share Capital
Line of Business :	Wholesale of dairy products, eggs and edible oils and fats
No. of Employee :	94

RATING & COMMENTS

MIRA’s Rating :

Ba

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	A1	A1

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. 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. In 2008, 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. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. 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 20% by 2015. However, the deficit still remains one of the highest in the G7, standing at 5.8% in 2013. The Bank of England (BoE) implemented an asset purchase program of �375 billion (approximately $586 billion) as of December 2014. 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 1.8%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

Source : CIA

Company name and address

Company Name

FAYREFIELD FOODS LIMITED

Company No:

01639747

Registered Address:

ENGLESEA HOUSE BARTHOMLEY ROADCREWECHESHIRECW1 5UF

Company Summary

Registered Address	ENGLESEA HOUSE BARTHOMLEY ROAD CREWE CHESHIRE CW1 5UF	Trading Address	Englesea House Barthomley Road Crewe Cheshire CW1 5UF
Website Address	http://www.fayrefield.com
Telephone Number	01270589311	Fax Number
TPS	No	FPS	No
Incorporation Date	01/06/1982
Previous Name	JOHN DOUGLAS KERR LIMITED	Type	Private limited with Share Capital
FTSE Index	--	Date of Change
Filing Date of Accounts	27/09/2014	Currency	GBP
Share Capital	£525,000	SIC07	46330
Charity Number	--
SIC07 Description	WHOLESALE OF DAIRY PRODUCTS, EGGS AND EDIBLE OILS AND FATS
Principal Activity	Trading in dairy products.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
31/12/2013	£141,681,653	£1,419,472	£16,234,793	94
31/12/2012	£134,431,019	£1,109,754	£14,896,809	78
31/12/2011	£160,973,142	£2,384,430	£14,029,869	82

Mortgage Summary

Total Mortgage 3

Outstanding 3

Satisfied 0

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 7

Total Value of Documented Trade £113,647

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 relatively 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 lower level of corporate failures.

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	9
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	10

Current Directors

Name	John Douglas Kerr	Date of Birth	18/02/1946
Officers Title	Mr	Nationality	British
Present Appointments	5	Function	Director
Appointment Date	29/09/1991
Address	Hilderstone Main Road, Worleston, Nantwich, Cheshire, CW5 6DN

Name	Nicholas Anthony Hilton	Date of Birth	04/09/1953
Officers Title	Mr	Nationality	British
Present Appointments	11	Function	Director
Appointment Date	29/09/1991
Address	Paddock Cottage Hollin Green Lane, Burland, Nantwich, Cheshire, CW5 8NL

Name	David Neil McFarlane	Date of Birth	17/09/1962
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	09/01/1992
Address	Woodside Cottage Newcastle Road, Hough, Crewe, CW2 5JG

Name	Timothy Marcus Robinson	Date of Birth	10/12/1964
Officers Title	Mr	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	24/10/1995
Address	Salesbrook Manor, Salesbrook Aston, Nantwich, Cheshire, CW5 8DR

Name	Leslie John Wright	Date of Birth	02/02/1955
Officers Title	Mr	Nationality	British
Present Appointments	9	Function	Director
Appointment Date	06/06/2014
Address	The Old Smithy Yeaton, Baschurch, Shrewsbury, Shropshire, SY4 2HY

Name	Sydney John Beech	Date of Birth	06/02/1945
Officers Title	Mr	Nationality	British
Present Appointments	15	Function	Director
Appointment Date	07/04/2003
Address	8 Woodland Avenue, Nantwich, Cheshire, CW5 6JE

Name	Daniel David Harper	Date of Birth	14/10/1972
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	26/11/2003
Address	2 Poppyfields, Alsager, Stoke-On-Trent, ST7 2GF

Name	Niel John Kerr	Date of Birth	06/08/1977
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	08/12/2009
Address	South View Newcastle Road, Balterley, Crewe, CW2 5PY

Name	Michael Reade	Date of Birth	04/03/1970
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	01/08/2008
Address	38 Highfield Grove, Stafford, Staffordshire, ST17 9RA

Current Company Secretary

Name	Philip Anthony Austin	Date of Birth	-
Officers Title	Mr	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	01/05/2013
Address	10 Edenbridge Close, Weston, Crewe, CW2 5QU

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
FAYREFIELD GROUP LTD	GBP	375,000	ORDINARY A	1	71.43
N.A. HILTON	GBP	50,000	ORDINARY A	1	9.52
N.J.D. KERR	GBP	25,000	ORDINARY A	1	4.76
JOHN DOUGLAS KERR	GBP	25,000	ORDINARY A	1	4.76
T.M. ROBINSON	GBP	25,000	ORDINARY B	1	4.76
D.N. MCFARLANE	GBP	25,000	ORDINARY A	1	4.76

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	£141,681,653	5.4%	£134,431,019	-16.5%	£160,973,142	4.4%	£154,182,120	11.8%	£137,959,734
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	£135,149,422	6.4%	£127,033,554	-17.4%	£153,765,590	4.6%	£147,032,690	12.7%	£130,467,806
Gross Profit	£6,532,231	-11.7%	£7,397,465	2.6%	£7,207,552	0.8%	£7,149,430	-4.6%	£7,491,928
Wages & Salaries	£3,615,075	-21.2%	£4,588,619	0.1%	£4,583,676	7.8%	£4,251,116	-6.8%	£4,560,392
Directors Emoluments	£1,026,208	-52%	£2,138,012	-5.2%	£2,256,320	6.6%	£2,116,364	1.6%	£2,083,555
Operating Profit	£235,143	-64%	£652,592	-5.6%	£691,091	49.6%	£461,881	-30.8%	£667,664
Depreciation	£198,655	14.5%	£173,463	-24.2%	£228,798	-8.6%	£250,439	7.6%	£232,647
Audit Fees	£38,528	35.6%	£28,422	-13.3%	£32,796	-14.8%	£38,500	20.3%	£32,000
Interest Payments	£55,114	56.8%	£35,147	-29%	£49,509	-26.5%	£67,343	-13.1%	£77,529
Pre Tax Profit	£1,419,472	27.9%	£1,109,754	-53.5%	£2,384,430	160.7%	£914,614	-69.8%	£3,028,554
Taxation	-£81,488	66.4%	-£242,814	-16.6%	-£208,236	-1.2%	-£205,750	17.6%	-£249,622
Profit After Tax	£1,337,984	54.3%	£866,940	-60.2%	£2,176,194	207%	£708,864	-74.5%	£2,778,932
Dividends Payable	-	-	-	-	-	-	-	-100%	£420,000
Retained Profit	£1,337,984	54.3%	£866,940	-60.2%	£2,176,194	207%	£708,864	-69.9%	£2,358,932

Balance Sheet

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Tangible Assets	£8,396,503	19.5%	£7,025,068	171%	£2,591,880	-2.5%	£2,659,148	-4.7%	£2,789,744
Intangible Assets	£205,825	20.3%	£171,135	5.1%	£162,837	-26.4%	£221,351	-4.8%	£232,593
Total Fixed Assets	£8,602,328	19.5%	£7,196,203	161.2%	£2,754,717	-4.4%	£2,880,499	-4.7%	£3,022,337
Stock	£6,008,794	-7%	£6,457,920	13.3%	£5,701,479	34.3%	£4,245,089	-44.1%	£7,588,550
Trade Debtors	£16,568,202	30.4%	£12,705,905	-27.8%	£17,603,215	12.4%	£15,655,235	0.2%	£15,620,392
Cash	£3,462,128	-23.5%	£4,527,366	-47.3%	£8,595,833	32.7%	£6,475,696	105.4%	£3,153,010
Other Debtors	£2,565,398	20.2%	£2,133,529	-50.8%	£4,332,572	128.5%	£1,896,453	-55.1%	£4,225,286
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£28,604,522	10.8%	£25,824,720	-28.7%	£36,233,099	28.2%	£28,272,473	-7.6%	£30,587,238
Trade Creditors	£12,209,508	10%	£11,101,509	-13.2%	£12,792,619	2%	£12,537,799	13.2%	£11,074,186
Bank Loans & Overdrafts	£355,283	-	0	-100%	£141,566	-62.6%	£378,759	-54.6%	£834,830
Other Short Term Finance	£4,506,347	19%	£3,786,101	-56.4%	£8,675,115	136.8%	£3,664,168	-49.1%	£7,191,858
Miscellaneous Current Liabilities	£1,913,044	-40.4%	£3,211,142	-2.5%	£3,291,880	25.2%	£2,630,058	-17.3%	£3,180,840
Total Current Liabilities	£18,984,182	4.9%	£18,098,752	-27.3%	£24,901,180	29.6%	£19,210,784	-13.8%	£22,281,714
Bank Loans & Overdrafts and LTL	£2,343,158	999.9%	£25,362	-87.2%	£198,333	-57.6%	£467,272	-54.1%	£1,017,880
Other Long Term Finance	£25,351	-	0	-100%	£16,167	-81.7%	£88,513	-16.7%	£106,300
Total Long Term Liabilities	£1,987,875	999.9%	£25,362	-55.3%	£56,767	-35.9%	£88,513	-51.6%	£183,050

.

Capital & Reserves

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Called Up Share Capital	£525,000	-	£525,000	-	£525,000	-	£525,000	-	£525,000
P & L Account Reserve	£15,709,793	9.3%	£14,371,809	6.4%	£13,504,869	19.2%	£11,328,675	6.7%	£10,619,811
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£16,234,793	9%	£14,896,809	6.2%	£14,029,869	18.4%	£11,853,675	6.4%	£11,144,811

Other Financial Items

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Worth	£16,028,968	8.9%	£14,725,674	6.2%	£13,867,032	19.2%	£11,632,324	6.6%	£10,912,218
Working Capital	£9,620,340	24.5%	£7,725,968	-31.8%	£11,331,919	25.1%	£9,061,689	9.1%	£8,305,524
Total Assets	£37,206,850	12.7%	£33,020,923	-15.3%	£38,987,816	25.1%	£31,152,972	-7.3%	£33,609,575
Total Liabilities	£20,972,057	15.7%	£18,124,114	-27.4%	£24,957,947	29.3%	£19,299,297	-14.1%	£22,464,764
Net Assets	£16,234,793	9%	£14,896,809	6.2%	£14,029,869	18.4%	£11,853,675	6.4%	£11,144,811

Cash Flow

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Cashflow from Operations	-£2,766,139	-493.6%	£702,804	-40.6%	£1,182,435	-69.2%	£3,840,229	132%	£1,655,555
Net Cashflow before Financing	-£3,187,704	16.9%	-£3,837,427	-254.3%	£2,487,299	-37%	£3,950,618	6.2%	£3,720,300
Net Cashflow from Financing	£1,955,357	999.9%	-£89,474	31.2%	-£129,969	24.4%	-£171,861	-13.6%	-£151,325
Increase in Cash	-£1,232,347	68.6%	-£3,926,901	-266.6%	£2,357,330	-37.6%	£3,778,757	5.9%	£3,568,975

Miscellaneous

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Contingent Liability	YES	-	YES	-	YES	-	NO	-	NO
Capital Employed	£18,222,668	22.1%	£14,922,171	5.9%	£14,086,636	18%	£11,942,188	5.4%	£11,327,861
Number of Employees	94	20.5%	78	-4.9%	82	1.2%	81	6.6%	76

Auditors	DELOITTE LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	NATIONAL WESTMINSTER BANK PLC
Bank Branch Code	60-13-19

Ratios

Date Of Accounts	31/12/13	31/12/12	31/12/11	31/12/10	31/12/09
Pre-tax profit margin %	1	0.83	1.48	0.59	2.20
Current ratio	1.51	1.43	1.46	1.47	1.37
Sales/Net Working Capital	14.73	17.40	14.21	17.01	16.61
Gearing %	14.40	0.20	1.40	3.90	9.10
Equity in %	43.90	45.30	36.10	38.30	33.40
Creditor Days	31.36	30.05	28.92	29.59	29.21
Debtor Days	42.56	34.40	39.80	36.95	41.21
Liquidity/Acid Test	1.19	1.07	1.22	1.25	1.03
Return On Capital Employed %	7.78	7.43	16.92	7.65	26.73
Return On Total Assets Employed %	3.81	3.36	6.11	2.93	9.01
Current Debt Ratio	1.16	1.21	1.77	1.62	1.99
Total Debt Ratio	1.29	1.21	1.77	1.62	2.01
Stock Turnover Ratio %	4.24	4.80	3.54	2.75	5.50
Return on Net Assets Employed %	8.74	7.44	16.99	7.71	27.17

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
25/10/2014	Annual Returns
08/10/2014	New Accounts Filed
30/09/2014	Mrs T. Kerr has left the board
17/06/2014	New Board Member Mr L.J. Wright appointed
10/06/2014	New Board Member Mr L.J. Wright appointed
19/10/2013	Annual Returns
03/10/2013	New Accounts Filed
03/10/2013	New Accounts Filed
04/06/2013	Mr J. Sadler has resigned as company secretary
04/06/2013	New Company Secretary Mr P.A. Austin appointed
09/10/2012	Annual Returns
02/10/2012	New Accounts Filed
13/10/2011	New Accounts Filed
13/10/2011	New Accounts Filed
05/10/2011	Annual Returns

Previous Company Names

Date	Previous Name
24/08/1994	JOHN DOUGLAS KERR LIMITED
11/08/1982	SEQUINLYNN LIMITED

Writ Details

No writs found

Statistics

Group	11 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	THE FAYREFIELD GROUP LIMITED
Ownership Status	Intermediately Owned
Ultimate Holding Company	THE FAYREFIELD GROUP LIMITED

Group StructureFull

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
THE FAYREFIELD GROUP LIM...	02563136	31.12.2013	Y	£174,745,635
FAYREFIELD FOODS LIMITED	01639747	31.12.2013	N	£141,681,653
INGREDIENT SOLUTIONS...	07412914	31.10.2013	N
LOVE FOOD HEAVEN LIM...	08404526	28.02.2014	N
PROMOVITA INGREDIENT...	08443393	31.03.2014	N
THE CELTIC CHEESE CO...	09364879	-	N
DAIRY SOLUTIONS LIMITED	04514636	31.12.2013	N	£9,739,245
FAYREFIELD INGREDIEN...	06704337	31.12.2013	N	£709,272
FAYREFIELD LIQUIDS L...	04589511	31.12.2013	N	£29,166,638
NUTRICEUT LIMITED	06028625	31.12.2013	N
PROMOVITA LTD.	06038969	31.03.2014	N	£129,564

Mortgage Details

Mortgage Type:
Date Charge Created:	26/11/13
Date Charge Registered:	27/11/13
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC;
Amount Secured:
Details:	L/H LAND ON THE EAST SIDE OF MARSHFIELDBANK CREWE T/NO.CH545717NOTIFICATION OFADDITION TO OR AMENDMENT OF CHARGE.
Mortgage Type:	LETTER OF PLEDGE
Date Charge Created:	26/03/09
Date Charge Registered:	03/04/09
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	SYDBANK A/S
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE DEBTOR TO THE CHARGEE
Details:	ACCOUNT NO. 7110 1161108 AND ANY AND ALL SECURITIES REGISTERED WITH VP SECURITIES SERVICES

Mortgage Type:	MORTGAGE DEBENTURE
Date Charge Created:	24/05/83
Date Charge Registered:	31/05/83
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:	A SPECIFIC EQUITABLE CHARGE OVER THE COMPANY\S ESTATE OR INTEREST IN ALL F/H ORL/H PROPERTIES AND THE PROCEEDS OF SALETHEREOF. FIXED & FLOATING CHARGE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL & BOOK DEBTS

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	7	£113,647
Company Name		Amount	Statement Date
Echo2 Ltd		£44,559	26/03/2014
Echo2 Ltd		£43,452	26/03/2014
Foundation Food Company Limited		£8,246	16/02/2012
Geolin Ltd		£5,046	26/10/2011
Bourne Chilled Ltd		£4,938	21/05/2012
Anglia Woods Of Grimsby (Frozen Foods) Limited		£4,777	13/06/2013
T M M Distribution Limited		£2,629	11/06/2010

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Patrick Dennis John Brunt	1	2
Christopher Martyn Swire	0	2
James Sadler	0	13
James Sadler	0	13
George Hilary Birchall Scott	0	1
Theresa Kerr	0	3
Timothy James Ridyard	0	16
Kim Wayne Palmer	4	2
Jonathan David Eeles	4	32
Richard Adamson Laird	6	2
Average Invoice Value		£820.12
Invoices available		97
Paid		95
Outstanding		2

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	37	29	28	1	0
Outstanding	0	0	0	0	2

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.40
UK Pound	1	Rs.92.15
Euro	1	Rs.66.48

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	ANK

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.