MIRA INFORM REPORT

Report No. :	318308
Report Date :	22.04.2015

IDENTIFICATION DETAILS

Name :	THE REMET COMPANY LIMITED

Formerly Known As :	MB84 LIMITED

Registered Office :	Remet Works 9 A Cody Business Centre London E16 4 TL

Country :	United Kingdom

Financials (as on) :	30.06.2014

Date of Incorporation :	15.01.1997

Com. Reg. No.:	03302783

Legal Form :	Private limited with Share Capital

Line of Business :	Wholesale of Waste and Scrap.

No. of Employees :	93

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. 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: THE REMET COMPANY LIMITED

Company No: 03302783

Company Status: Active - Accounts Filed

Registered Address: REMET WORKS 9A CODY BUSINESS CENTRE LONDON E16 4TL

Company Summary

Registered Address       REMET WORKS                        Trading Address            Remet Works
                                    9A CODY BUSINESS CENTRE                                      9A South Crescent
                                    LONDON                                                                      London
                                    E16 4TL                                                                        E16 4TL

Website Address http://www.remetcompany.com

Telephone Number 02074760121 Fax Number 02074760122

TPS No

FPS Yes Incorporation Date 15/01/1997

Previous Name MB84 LIMITED Type private limited with share capital

FTSE Index -

Date of Change 21/03/1997 Filing Date of Accounts 25/11/2014

Currency GBP Share Capital £300

SIC07 46770 Charity Number -

SIC07 Description WHOLESALE OF WASTE AND SCRAP

Principal Activity A group engaged in Non ferrous scrap merchants.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
30/06/2014	£141,771,030	£3,147,417	£27,666,485	93
30/06/2013	£154,315,429	£4,937,769	£25,739,473	84
30/06/2012	£157,266,251	£4,497,893	£22,458,516	76

Mortgage Summary

Total Mortgage 3

Outstanding 3

Satisfied 0

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

This company has been treated as a Large company

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.

This company's bank loans and overdrafts (less cash) account for a high percentage of short term liabilities.

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 -	-

Current Directors

Name	Shraga Cohen	Date of Birth	10/03/1947
Officers Title	Mr	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	28/02/1997
Address	Remet Works 9a Cody Business Centre, South Crescent, London, E16 4TL

Name	Shraga Cohen	Date of Birth	10/03/1947
Officers Title	Mr	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	28/02/1997
Address	Remet Works 9a Cody Business Centre, South Crescent, London, E16 4TL

Name	Philip John Brewer	Date of Birth	24/08/1967
Officers Title	Mr	Nationality	British
Present Appointments	6	Function	Director
Appointment Date	07/07/2009
Address	Remet Works 9a Cody Business Centre, South Crescent, London, E16 4TL

Current Company Secretary

Name	Rosalind Joseph	Date of Birth	06/01/1952
Officers Title	Ms	Nationality	British
Present Appointments	5	Function	Company Secretary
Appointment Date	28/02/1997
Address	Remet Works 9a Cody Business Centre, South Crescent, London, E16 4TL

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value
W. REID	GBP	2,195	ORDINARY	0.1
MRS R. JOSEPH	GBP	530	ORDINARY	0.1
PHILIP JOHN BREWER & WALTER REID	GBP	205	ORDINARY	0.1
CLIVE STASZEWSKI	GBP	50	ORDINARY	0.1
SHRAGA COHEN	GBP	20	ORDINARY	0.1

Unable to report percentage holdings as filed Shareholder listing is not full.

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	Y	(%)	Y	(%)	Y	(%)	Y	(%)	Y
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Turnover	£141,771,030	-8.1%	£154,315,429	-1.9%	£157,266,251	-13.6%	£182,065,867	25.3%	£145,349,036
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Export	£83,579,874	-15.1%	£98,441,429	-7.8%	£106,823,322	-19.2%	£132,284,551	14.3%	£115,743,923
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Cost of Sales	£134,661,148	-6.8%	£144,500,037	-2%	£147,393,453	-13%	£169,380,515	26.4%	£133,968,070
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Gross Profit	£7,109,882	-27.6%	£9,815,392	-0.6%	£9,872,798	-22.2%	£12,685,352	11.5%	£11,380,966
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Wages & Salaries	£4,542,304	4.4%	£4,352,519	13.6%	£3,832,297	-12.1%	£4,358,399	-8.8%	£4,779,206
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Directors Emoluments	£1,281,736	-12.4%	£1,463,477	-12.8%	£1,677,921	-26.3%	£2,277,155	-10.6%	£2,548,388
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Operating Profit	£2,216,232	-53%	£4,717,364	4.5%	£4,513,996	-41.9%	£7,771,220	50.2%	£5,172,605
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Depreciation	£612,558	33.7%	£458,094	31.1%	£349,313	-5.3%	£368,890	28.4%	£287,377
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Audit Fees	£34,588	-26.1%	£46,800	1.7%	£46,000	1.1%	£45,500	1.1%	£45,000
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Interest Payments	£62,505	-42.7%	£109,118	-0.2%	£109,315	0.3%	£108,998	4.8%	£104,007
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Pre Tax Profit	£3,147,417	-36.3%	£4,937,769	9.8%	£4,497,893	-42.5%	£7,823,521	48.6%	£5,266,335
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Taxation	-£711,389	40.6%	-£1,198,104	-10.7%	-£1,082,603	49.5%	-£2,143,594	-43.2%	-£1,496,866
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Profit After Tax	£2,436,028	-34.9%	£3,739,665	9.5%	£3,415,290	-39.9%	£5,679,927	50.7%	£3,769,469
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Dividends Payable	-	-	-	-	-	-100%	£2,500,000	-44.4%	£4,500,000
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Retained Profit	£1,927,012	-41.3%	£3,280,957	4.4%	£3,142,232	24.3%	£2,527,320	345.7%	-£1,028,798

Balance Sheet

	Date Of Accounts	30/06/14	(%)	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Tangible Assets	£2,167,899	10.5%	£1,961,936	21.2%	£1,618,243	-32.9%	£2,413,175	3.4%	£2,334,441
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Intangible Assets	£16,411	-13.2%	£18,911	-11.7%	£21,411	-10.5%	£23,911	-9.5%	£26,411
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Total Fixed Assets	£2,184,310	10.3%	£1,980,847	20.8%	£1,639,654	-32.7%	£2,437,086	3.2%	£2,360,852
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Stock	£6,255,395	-3.1%	£6,458,590	-18.3%	£7,906,154	4.7%	£7,549,926	60.6%	£4,701,494
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Trade Debtors	£20,595,284	-17.5%	£24,974,853	2.1%	£24,469,635	-9.8%	£27,134,883	23.3%	£22,011,703
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Cash	£341,538	115.2%	£158,729	-92.2%	£2,037,193	102%	£1,008,317	555.7%	£153,772
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Other Debtors	£15,165,425	24.7%	£12,157,516	134.8%	£5,176,949	11.4%	£4,647,780	-27%	£6,365,390
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Total Current Assets	£42,357,642	-3.2%	£43,749,688	10.5%	£39,589,931	-1.9%	£40,340,906	21.4%	£33,232,359
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Trade Creditors	£8,130,314	-8.2%	£8,857,568	15.7%	£7,654,015	-27.1%	£10,498,868	23%	£8,536,632
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Bank Loans & Overdrafts	£3,632,694	-30.9%	£5,257,614	-30.4%	£7,559,464	-3.1%	£7,800,057	34.4%	£5,802,678
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Other Short Term Finance	£508,615	-41.6%	£870,481	-	0	-	0	-	0
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Miscellaneous Current Liabilities	£1,519,081	-37.6%	£2,434,639	67.7%	£1,451,461	-55%	£3,224,816	2.3%	£3,150,991
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Total Current Liabilities	£13,790,704	-20.8%	£17,420,302	4.5%	£16,664,940	-22.6%	£21,523,741	23.1%	£17,490,301
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Bank Loans & Overdrafts and LTL	£6,717,457	-14.2%	£7,828,374	-19%	£9,665,593	-0.6%	£9,727,963	37.2%	£7,090,923
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Other Long Term Finance	0	-	0	-	0	-	0	-	0
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Total Long Term Liabilities	£3,084,763	20%	£2,570,760	22.1%	£2,106,129	9.2%	£1,927,906	49.7%	£1,288,245

Capital & Reserves

	Date Of Accounts	30/06/14	(%)	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Called Up Share Capital	£300	-	£300	-	£300	-	£300	-	£300
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	P & L Account Reserve	£25,760,583	8.1%	£23,833,571	16%	£20,552,614	18%	£17,420,443	17%	£14,893,123
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Revaluation Reserve	-	-	-	-	-	-	-	-100%	£15,640
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Sundry Reserves	£1,905,602	-	£1,905,602	-	£1,905,602	-	£1,905,602	-	£1,905,602
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Shareholder Funds	£27,666,485	7.5%	£25,739,473	14.6%	£22,458,516	16.2%	£19,326,345	14.9%	£16,814,665

Other Financial Items

	Date Of Accounts	30/06/14	(%)	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Net Worth	£27,650,074	7.5%	£25,720,562	14.6%	£22,437,105	16.2%	£19,302,434	15%	£16,788,254
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Working Capital	£28,566,938	8.5%	£26,329,386	14.9%	£22,924,991	21.8%	£18,817,165	19.5%	£15,742,058
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Total Assets	£44,541,952	-2.6%	£45,730,535	10.9%	£41,229,585	-3.6%	£42,777,992	20.2%	£35,593,211
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Total Liabilities	£16,875,467	-15.6%	£19,991,062	6.5%	£18,771,069	-20%	£23,451,647	24.9%	£18,778,546
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Net Assets	£27,666,485	7.5%	£25,739,473	14.6%	£22,458,516	16.2%	£19,326,345	14.9%	£16,814,665

Cash Flow

	Date Of Accounts	30/06/14	(%)	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Net Cashflow from Operations	£2,954,205	128.2%	£1,294,649	-64.9%	£3,685,874	-0.2%	£3,694,462	618.6%	-£712,334
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Net Cashflow before Financing	£1,807,729	327%	£423,386	-66.6%	£1,268,153	211%	-£1,142,834	82.7%	-£6,598,129
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Net Cashflow from Financing	-	-	-	-100%	£1,316	-	-	-100%	£25,000
$Description: \\VIVEK\Foreign Report Raw2\THE REMET COMPANY LIMITED_files\barchart-grey.png$	Increase in Cash	£1,807,729	327%	£423,386	-66.6%	£1,269,469	211.1%	-£1,142,834	82.6%	-£6,573,129

Miscellaneous

Date Of Accounts	30/06/14	(%)	30/06/13	(%)	30/06/12	(%)	30/06/11	(%)	30/06/10
Contingent Liability	YES	-	NO	-	NO	-	NO	-	NO
Capital Employed	£30,751,248	8.6%	£28,310,233	15.2%	£24,564,645	15.6%	£21,254,251	17.4%	£18,102,910
Number of Employees	93	10.7%	84	10.5%	76	-5%	80	23.1%	65
Auditors	DODD HARRIS
Auditor Comments	The audit report contains no adverse comments
Bankers	HSBC 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 %	2.22	3.20	2.86	4.30	3.62

Current ratio	3.07	2.51	2.38	1.87	1.90
Sales/Net Working Capital	4.96	5.86	6.86	9.68	9.23
Gearing %	24.30	30.40	43	50.30	42.20
Equity in %	62.10	56.30	54.50	45.20	47.30
Creditor Days	20.87	20.89	17.71	20.99	21.37
Debtor Days	52.87	58.91	56.63	54.25	55.12
Liquidity/Acid Test	2.61	2.14	1.90	1.52	1.63
Return On Capital Employed %	10.23	17.44	18.31	36.80	29.09
Return On Total Assets Employed %	7.06	10.79	10.90	18.28	14.79
Current Debt Ratio	0.49	0.67	0.74	1.11	1.04
Total Debt Ratio	0.60	0.77	0.83	1.21	1.11
Stock Turnover Ratio %	4.41	4.18	5.02	4.14	3.23
Return on Net Assets Employed %	11.37	19.18	20.02	40.48	31.31

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
10/02/2015	Annual Returns
04/12/2014	New Accounts Filed
24/02/2014	Annual Returns
23/11/2013	New Accounts Filed
23/11/2013	New Accounts Filed
28/01/2013	Annual Returns
16/11/2012	New Accounts Filed
19/04/2012	Change in Reg.Office
19/04/2012	Change of Company Postcode
04/02/2012	Annual Returns
23/01/2012	Mrs B. Reid has left the board
24/12/2011	New Accounts Filed
24/12/2011	New Accounts Filed
10/02/2011	New Board Member Mr P.J. Brewer appointed
02/02/2011	Annual Returns

Previous Company Names

Date	Previous Name
21/03/1997	MB84 LIMITED

Writ Details

No writs found

Statistics

Group	4 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	THE REMET COMPANY LIMITED
Ownership Status	Ultimately Owned
Ultimate Holding Company	THE REMET COMPANY LIMITED

Group Structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
THE REMET COMPANY LIMITED	03302783	30.06.2014	Y	£141,771,030
REMET (BARNET) LIMITED	03937252	31.12.2014	N
AVON METALS LIMITED	04135396	30.06.2014	N	£48,040,292
GLEVUM MANCO LIMITED	04141324	30.06.2014	N

Mortgage Details

Mortgage Type:	DEBENTURE
Date Charge Created:	09/04/10
Date Charge Registered:	10/04/10
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 UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
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:	LEGAL MORTGAGE
Date Charge Created:	21/03/97
Date Charge Registered:	27/03/97
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	9A CODY BUSINESS CENTRE CODY ROAD LONDON AND THE BENEFIT OF ALL RIGHTS LICENCESGUARANTEES RENT DEPOSITS CONTRACTS DEEDS UNDERTAKINGS AND WARRANTIES RELATING TO THE PROPERTY. ANY SHARES OR MEMBERSHIPRIGHTS AND ANY GOODWILL OF ANY BUSINESSAND ANY RENTAL OR OTHER MONEY PAYABLE UNDER ANY LEASE LICENCE OR OTHER INTEREST SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	FIXED AND FLOATING CHARGE
Date Charge Created:	21/03/97
Date Charge Registered:	27/03/97
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	MIDLAND 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 UNCALLED CAPITAL GOODWILL BOOKDEBTS AND PATENTS

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Josef Reid	1	5
Betty Reid	0	2
INSTANT COMPANIES LIMITED	2431	120340
SWIFT INCORPORATIONS LIMITED	2579	263489

Average Invoice Value	£454.08
Invoices available	26
Paid	26
Outstanding	0

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	21	0	1	2	2
Outstanding	0	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.92
UK Pound	1	Rs.93.57
Euro	1	Rs.67.34

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	VNT

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.