MIRA INFORM REPORT

Report No. :	335963.3
Report Date :	18.08.2015

IDENTIFICATION DETAILS

Name :	FLB GROUP LIMITED

Formerly Known As :	CHARLES LETTS & CO LIMITED CHARLES LETTS (SCOTLAND) LIMITED

Registered Office :	Excel House (4th Floor), 30 Semple Street, Edinburgh, Eh3 8bl

Country :	United Kingdom

Financials (as on) :	30.04.2014

Date of Incorporation :	08.11.1909

Com. Reg. No.:	SC007315

Legal Form :	Private limited with Share Capital

Line of Business :	The publication of diaries from origin to sale.

No. of Employees :	284 (2014)

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

FLB GROUP LIMITED

Company No

SC007315

Company Status

Active - Accounts Filed

Registered Address

EXCEL HOUSE (4TH FLOOR)

30 SEMPLE STREET

EDINBURGH

EH3 8BL

Company Summary

Registered Address	EXCEL HOUSE (4TH FLOOR)	Trading Address	4th Floor
	30 SEMPLE STREET		Excel House
	EDINBURGH		30 Semple Street
	EH3 8BL		Edinburgh, Midlothian
			EH3 8BL
Website Address	http://www.letts.co.uk
Telephone Number	02074078891	Fax Number
TPS	No	FPS	No
Incorporation Date	08/11/1909
Previous Name	CHARLES LETTS & CO LIMITED	Type	Private limited with Share Capital
		FTSE Index	-
Date of Change	10/02/2015	Filing Date of Accounts	28/01/2015
Currency	GBP	Share Capital	£784,000
SIC07	18140	Charity Number	-
SIC07 Description	BINDING AND RELATED SERVICES
Principal Activity	The publication of diaries from origin to sale.

key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
30/04/2014	£24,520,000	-£2,105,000	£5,481,000	284
31/01/2013	£21,900,000	-£73,000	£7,373,000	274
31/01/2012	£23,381,000	£1,042,000	£7,416,000	281

Mortgage Summary

Total Mortgage	17
Outstanding	3
Satisfied	14

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade	4

Total Value of Documented Trade	£3,178

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 negative return on 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 -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	-

Total Current Directors	3
Total Current Secretaries	1
Total Previous Directors / Company	19

Current Directors

Name	Gordon James Donald Raw	Date of Birth	29/09/1962
Officers Title	Mr	Nationality	British
Present Appointments	38	Function	Director
Appointment Date	10/08/2000
Address	Charles Letts & Co. Limited Thornybank, Dalkeith, Midlothian, EH22 2NE

Name	Gordon Andrew Presly	Date of Birth	07/03/1960
Officers Title	Mr	Nationality	British
Present Appointments	32	Function	Director
Appointment Date	10/08/2000
Address	Charles Letts & Co. Limited, Thornybank, Dalkeith, Midlothian, EH22 2NE

Name	Harolde Savoy	Date of Birth	26/03/1959
Officers Title	Mr	Nationality	Canadian
Present Appointments	3	Function	Director
Appointment Date	08/11/2013
Address	Unit 3 Victoria Gardens, Burgess Hill, West Sussex, RH15 9NB

Current Company Secretary

Name	MACROBERTS CORPORATE SERVICES LIMITED	Date of Birth	-
Officers Title		Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	15/05/2014
Address	Capella Building (10th Floor) 60 York Street, Glasgow, G2 8JX

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
CHARLES LETTS (HOLDINGS) LTD	GBP	784,000	ORDINARY	1	100

Profit & Loss

Date Of Accounts	30/04/14	(%)	31/01/13	(%)	31/01/12	(%)	31/01/11	(%)	31/01/10

Weeks	65	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated
	N	(%)	N	(%)	N	(%)	N	(%)	N
A/cs
Turnover	£24,520,000	12%	£21,900,000	-6.3%	£23,381,000	2.1%	£22,911,000	-0.9%	£23,130,000
Export	£6,240,000	8.1%	£5,771,000	-16.1%	£6,877,000	1.6%	£6,767,000	-5.7%	£7,174,000
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages &	£11,043,000	30.3%	£8,476,000	-1.1%	£8,571,000	0.4%	£8,535,000	-4.1%	£8,898,000
Salaries
Directors
	-	-	-	-	-	-	-	-	-
Emoluments
Operating Profit	-£1,519,000	-999.9%	£162,000	-84.9%	£1,070,000	13.8%	£940,000	-5.3%	£993,000
Depreciation	£557,000	7.1%	£520,000	2.6%	£507,000	-5.4%	£536,000	0.4%	£534,000
Audit Fees	£22,000	-18.5%	£27,000	-10%	£30,000	-3.2%	£31,000	10.7%	£28,000
Interest
	£470,000	999.9%	£22,000	-26.7%	£30,000	57.9%	£19,000	-26.9%	£26,000
Payments
Pre Tax Profit	-£2,105,000	-999.9%	-£73,000	-107%	£1,042,000	13.1%	£921,000	-5.3%	£973,000
Taxation	£402,000	999.9%	£29,000	110.7%	-£271,000	-3.8%	-£261,000	9.4%	-£288,000
Profit After Tax	-£1,703,000	-999.9%	-£44,000	-105.7%	£771,000	16.8%	£660,000	-3.6%	£685,000
Dividends Payable	-	-	-	-	-	-100%	£2,000,000	-	-
Retained Profit	-£1,703,000	-999.9%	-£44,000	-105.7%	£771,000	157.5%	-£1,340,000	-295.6%	£685,000

Balance Sheet

Date Of Accounts	30/04/14	(%)	31/01/13	(%)	31/01/12	(%)	31/01/11	(%)	31/01/10
Tangible Assets	£12,488,000	-47.7%	£23,870,000	-31.7%	£34,954,000	14.1%	£30,641,000	6.3%	£28,813,000
Intangible Assets	0	-100%	£30,000	-	0	-	0	-	0
Total Fixed
	£12,488,000	-47.7%	£23,900,000	-31.6%	£34,954,000	14.1%	£30,641,000	6.3%	£28,813,000
Assets
Stock	£7,016,000	131.4%	£3,032,000	4.6%	£2,900,000	8.3%	£2,678,000	8.9%	£2,459,000
Trade Debtors	£2,469,000	28.6%	£1,920,000	13.6%	£1,690,000	-41.1%	£2,871,000	16.5%	£2,464,000
Cash	£386,000	999.9%	£8,000	-98.6%	£573,000	-61.4%	£1,485,000	-43.9%	£2,648,000
Other Debtors	£807,000	153%	£319,000	1.9%	£313,000	9.8%	£285,000	-24.2%	£376,000
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£10,678,000	102.3%	£5,279,000	-3.6%	£5,476,000	-25.2%	£7,319,000	-7.9%	£7,947,000
Trade Creditors	£2,146,000	-8.3%	£2,339,000	-30.6%	£3,372,000	56%	£2,162,000	28.6%	£1,681,000
Bank Loans & Overdrafts	0	-100%	£87,000	-	0	-	0	-100%	£93,000
Other Short Term Finance	£5,146,000	-	0	-	0	-	0	-	0
Miscellaneous Current Liabilities	£1,705,000	-15.6%	£2,019,000	10.6%	£1,826,000	13.6%	£1,608,000	-2.7%	£1,652,000
Total Current Liabilities	£8,997,000	102.4%	£4,445,000	-14.5%	£5,198,000	37.9%	£3,770,000	10%	£3,426,000
Bank Loans & Overdrafts and LTL	£8,688,000	-50.2%	£17,448,000	-37.3%	£27,816,000	0.9%	£27,560,000	8%	£25,529,000
Other Long Term Finance	£8,688,000	-49.3%	£17,144,000	-38.1%	£27,710,000	1.1%	£27,422,000	8.6%	£25,260,000
Total Long Term Liabilities .	£8,688,000	-50%	£17,361,000	-37.6%	£27,816,000	0.9%	£27,560,000	8.4%	£25,436,000

Capital & Reserves

Date Of Accounts	30/04/14	(%)	31/01/13	(%)	31/01/12	(%)	31/01/11	(%)	31/01/10
Called Up Share Capital	£784,000	-	£784,000	-	£784,000	-	£784,000	-	£784,000
P & L Account Reserve	£4,564,000	-27.2%	£6,267,000	-0.7%	£6,311,000	13.9%	£5,540,000	-19.5%	£6,880,000
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£133,000	-58.7%	£322,000	0.3%	£321,000	4.9%	£306,000	30.8%	£234,000
Shareholder Funds	£5,481,000	-25.7%	£7,373,000	-0.6%	£7,416,000	11.9%	£6,630,000	-16.1%	£7,898,000

Other Financial Items

Date Of Accounts	30/04/14	(%)	31/01/13	(%)	31/01/12	(%)	31/01/11	(%)	31/01/10
Net Worth	£5,481,000	-25.4%	£7,343,000	-1%	£7,416,000	11.9%	£6,630,000	-16.1%	£7,898,000
Working Capital	£1,681,000	101.6%	£834,000	200%	£278,000	-92.2%	£3,549,000	-21.5%	£4,521,000
Total Assets	£23,166,000	-20.6%	£29,179,000	-27.8%	£40,430,000	6.5%	£37,960,000	3.3%	£36,760,000
Total Liabilities	£17,685,000	-18.9%	£21,806,000	-33.9%	£33,014,000	5.4%	£31,330,000	8.6%	£28,862,000
Net Assets	£5,481,000	-25.7%	£7,373,000	-0.6%	£7,416,000	11.9%	£6,630,000	-16.1%	£7,898,000

Cash Flow

Date Of Accounts	30/04/14	(%)	31/01/13	(%)	31/01/12	(%)	31/01/11	(%)	31/01/10
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	30/04/14	(%)	31/01/13	(%)	31/01/12	(%)	31/01/11	(%)	31/01/10
Contingent Liability	YES	-	YES	-	YES	-	YES	-	YES
Capital Employed	£14,169,000	-42.7%	£24,734,000	-29.8%	£35,232,000	3%	£34,190,000	2.6%	£33,334,000
Number of Employees	284	3.6%	274	-2.5%	281	-1.1%	284	-6.6%	304

Accountants

Auditors	ERNST & YOUNG LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	ROYAL BANK OF SCOTLAND
Bank Branch	83-06-08

Ratios

Date Of Accounts	30/04/14	31/01/13	31/01/12	31/01/11	31/01/10
Pre-tax profit margin %	-8.58	-0.33	4.46	4.02	4.21
Current ratio	1.19	1.19	1.05	1.94	2.32
Sales/Net Working Capital	14.59	26.26	84.10	6.46	5.12
Gearing %	158.50	236.60	375.10	415.70	323.20
Equity in %	23.70	25.30	18.30	17.50	21.50
Creditor Days	39.82	38.87	52.49	34.34	26.45
Debtor Days	45.81	31.91	26.31	45.61	38.77
Liquidity/Acid Test	0.40	0.50	0.49	1.23	1.60
Return On Capital Employed %	-14.85	-0.29	2.95	2.69	2.91
Return On Total Assets Employed %	-9.08	-0.25	2.57	2.42	2.64
Current Debt Ratio	1.64	0.60	0.70	0.56	0.43
Total Debt Ratio	3.22	2.95	4.45	4.72	3.65

Stock Turnover Ratio %	28.61	13.84	12.40	11.68	10.63
Return on Net Assets Employed %	-38.40	-0.99	14.05	13.89	12.31

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
12/02/2015	Change of Name
02/02/2015	New Accounts Filed
29/11/2014	Annual Returns
19/05/2014	Change in Reg.Office
19/05/2014	Change of Company Postcode
19/05/2014	DM COMPANY SERVICES (LONDON) LIMITE has resigned as company secretary
19/05/2014	New Company Secretary MACROBERTS CORPORATE SERVICES LIMIT appointed
27/11/2013	Annual Returns
12/11/2013	New Board Member Mr H. Savoy appointed
05/11/2013	New Accounts Filed
06/12/2012	Annual Returns
05/11/2012	New Accounts Filed
05/12/2011	Annual Returns
21/10/2011	New Accounts Filed
29/11/2010	Annual Returns

Previous Company Names

Date	Previous Name
10/02/2015	CHARLES LETTS & CO LIMITED
20/06/1994	CHARLES LETTS (SCOTLAND) LIMITED

Writ Details

No writs found

Statistics

Group	32 companies
Linkages	1 companies
Countries	In 1 countries

Summary

Holding Company
Ownership Status	Wholly Owned
Ultimate Holding Company	HSGP INVESTMENTS LTD

Group Structure

Company Name	Registered	Latest Key	Consol.
	Number	Financials	Accounts
HSGP INVESTMENTS LTD	SC447357	30.04.2014	Y	£44,299,000
FLB HOLDINGS LIMITED	SC295049	30.04.2014	Y	£47,325,000
FLB PROPERTIES LIMITED	SC304477	30.04.2014	N	£492,000
LETTS FILOFAX GROUP...	SC206359	30.04.2014	N
BARNARD AND JACKSO...	01764831	30.04.2014	N
BARNARD AND JACKS...	00461762	30.04.2014	N
BARNARD AND JACKS...	01762429	30.04.2014	N
DRBG UK LIMITED	04163587	30.04.2014	N
DAY RUNNER UK LIM...	03309833	30.04.2014	N
FILOFAX GROUP L...	00175064	30.04.2014	N
TOPPS OF ENGL...	00596813	30.04.2014	N
BAYBOND LIM...	02364396	30.04.2014	N
TUFNELL INVES...	00639693	30.04.2014	N
YARD-O-LED...	00284373	30.04.2014	N
EDWARD BA...	00209240	30.04.2014	N
STURGES B...	00752439	30.04.2014	N
DRAKES OFFICE...	01239536	30.04.2014	N
FILOFAX LIMITED	01891062	30.04.2014	N
LEFAX PUBLI...	02268439	30.04.2014	N
FILOFAX FRA...	02741286	30.04.2014	N
DRAKEPLAN L...	03226778	30.04.2014	N
FILOFAX PEN...	03751485	30.04.2014	N
ELIJO LIMITED	02690189	30.04.2014	N
ELIJO (LOND...	00502562	30.04.2014	N
CHARLES LETTS GROU...	SC147317	30.04.2014	N
CHARLES LETTS (HO...	00386906	30.04.2014	N	£1,128,000
CHARLES LETTS B...	01075794	30.04.2014	N
FASHION AND LIF...	SC022361	30.04.2014	N
FLB GROUP LIMITED	SC007315	30.04.2014	N	£24,520,000
CHARLES LETTS...	02717816	30.04.2014	N
CHARLES LETTS (...	00401884	30.04.2014	N
CHARLES LETTS E...	00446557	30.04.2014	N

Mortgage Details

Date Charge Created:	19/04/13
Date Charge Registered:	30/04/13
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	THE ROYAL BANK OF SCOTLAND PLC;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.
Mortgage Type:
Date Charge Created:	19/04/13
Date Charge Registered:	25/04/13
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	PNC FINANCIAL SERVICES UK LTD;
Amount Secured:	ANY PATENTS, TRADEMARKS, SERVICE MARKS,DESIGNS, BUSINESS NAMES, COPYRIGHTS, DESIGN RIGHTS, MORAL RIGHTS, INVENTIONS...SEE FORM FOR FURTHER DETAILSCONTAINS
Details:	FIXED CHARGE.CONTAINS FLOATING CHARGE.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.
Mortgage Type:
Date Charge Created:	19/04/13
Date Charge Registered:	04/05/13
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	PNC BUSINESS CREDIT A TRADING STYLE OF PNC FINANCIAL SERVICES UK LTD;
Amount Secured:	CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR
Details:	UNDERTAKINGOF THE COMPANY.NOTIFICATION OF ADDITIONTO OR AMENDMENT OF CHARGE.
Mortgage Type:	FLOATING CHARGE
Date Charge Created:	09/03/06
Date Charge Registered:	12/10/13
Date Charge Satisfied:	-
Status:	SATISFIED
Person(s) Entitled:	THE ROYAL BANK OF SCOTLAND PLC;
Person(s) Entitled:	UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY
Amount Secured:	INCLUDING UNCALLED CAPITAL
Mortgage Type:	FLOATING CHARGE
Date Charge Created:	09/03/06
Date Charge Registered:	12/10/13
Date Charge Satisfied:	-
Status:	SATISFIED
Person(s) Entitled:	THE ROYAL BANK OF SCOTLAND PLC;
Amount Secured:	UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY
Details:	INCLUDING UNCALLED CAPITAL
Mortgage Type:	FLOATING CHARGE
Date Charge Created:	10/08/00
Date Charge Registered:	14/08/00
Date Charge Satisfied:	18/03/06
Status:	SATISFIED
Person(s) Entitled:	THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE
	UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY
Details:
	INCLUDING UNCALLED CAPITAL
Mortgage Type:	BOND & FLOATING CHARGE
Date Charge Created:	20/12/93
Date Charge Registered:	31/12/93
Date Charge Satisfied:	18/08/00
Status:	SATISFIED
Person(s) Entitled:	CHARLES LETTS GROUP LIMITED
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY
Details:	INCLUDING UNCALLED CAPITAL
Mortgage Type:	DEBENTURE
Date Charge Created:	20/12/93
Date Charge Registered:	31/12/93
Date Charge Satisfied:	11/10/99
Status:	SATISFIED
Person(s) Entitled:	CHARLES LETTS GROUP LIMITED
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE BY THE COM
	ALL FREEHOLD & LEASEHOLD PROPERTY, PLANT , MACHINERY SEE COMPANIES HOUSE
Details:
	MICROFICHE
Mortgage Type:	DEBENTURE
Date Charge Created:	31/03/92
Date Charge Registered:	21/04/92
Date Charge Satisfied:	11/10/99
Status:	SATISFIED
Person(s) Entitled:	HAMBROS BANK LTD
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE
	UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY
Details:
	INCLUDING UNCALLED CAPITAL
Mortgage Type:	BOND & FLOATING CHARGE
Date Charge Created:	31/03/92
Date Charge Registered:	21/04/92
Date Charge Satisfied:	28/06/00
Status:	SATISFIED
Person(s) Entitled:	HAMBROS BANK LIMITED
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE
	UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY
Details:
	INCLUDING UNCALLED CAPITAL
Mortgage Type:	CHARGE
Date Charge Created:	31/03/92
Date Charge Registered:	21/04/92
Date Charge Satisfied:	11/10/99
Status:	SATISFIED
Person(s) Entitled:	HAMBROS BANK LIMITED
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE A. ALL RIGHT TITLE AND INTEREST OF THE COMPANY. B. ALL BOOK DEBTS AND OTHER DEBTS THE SUBECT OF THE CHARGED DEEDS AS AND WHEN SHALL BECOME DUE OR OWING TO THE
Details:	COMPANY UPON RE-VESTING IN THE COMPANY WHETHER PURSUANT TO THE CHARGED DEEDS OR OTHERWISE
Mortgage Type:	STANDARD SECURITY
Date Charge Created:	08/04/92
Date Charge Registered:	21/04/92
Date Charge Satisfied:	11/10/99
Status:	SATISFIED
Person(s) Entitled:	HAMBROS BANK LIMITED
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE
	6 ACRES AND 4 DECIMAL AT THORNYBANK INDUSTRIAL ESTATE, THORNYBANK, NEAR DALKEITH
Details:	AS RELATIVE TO DISPOSITION BY THE COUNTY COUNCIL IN FAVOUR OF THE COMPANY
	RECORDED GRS 280665.
Mortgage Type:	FLOATING CHARGE
Date Charge Created:	28/02/89
Date Charge Registered:	17/03/89
Date Charge Satisfied:	26/05/92
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE
	UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY
Details:
	INCLUDING UNCALLED CAPITAL
Mortgage Type:	FLOATING CHARGE
Date Charge Created:	25/01/89
Date Charge Registered:	01/02/89
Date Charge Satisfied:	08/05/90
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE
	UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY
Details:
	INCLUDING UNCALLED CAPITAL
Mortgage Type:	STANDARD SECURITY
Date Charge Created:	31/01/89
Date Charge Registered:	01/02/89
Date Charge Satisfied:	29/04/92
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE
Details:	6.4 AND 12.16 ACRES OF GROUND AT THORNYBANK INDUSTRIAL ESTATE, DALKEITH
Mortgage Type:	STANDARD SECURITY
Date Charge Created:	04/02/88
Date Charge Registered:	19/02/88
Date Charge Satisfied:	25/04/89
Status:	SATISFIED
Person(s) Entitled:	INVESTORS IN INDUSTRY PLC
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE
Details:	FACTORY PREMISES AT THORNYBANK INDUSTRIAL ESTATE, THORNYBANK, NEAR DALKEITH
Mortgage Type:	STANDARD SECURITY
Date Charge Created:	04/02/88
Date Charge Registered:	18/02/88
Date Charge Satisfied:	25/04/89
Status:	SATISFIED
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC
Amount Secured:	ALL SUMS DUE OR TO BECOME DUE
Details:	6.4 & 12.16 ACRES OF GROUND AT THORNYBANK INDUSTRIAL ESTATE, DALKEITH

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	4	£3,178
Company Name		Amount	Statement Date
Panache Promotions Ltd		£1,773	01/03/2011
Robertson Scaffolding Ltd		£736	14/03/2011
Get Carter Express Freight Limited		£383	16/09/2013
Roundhouse Computers Ltd		£286	22/05/2013

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Timothy Reginald Letts	3	6
John Martin Letts	1	7
William Joseph Swords	3	2
Norman Edward Mcquat Cuthbertson	0	1
Richard Harrison	1	84

Richard Harrison	1	84
David James Watts	0	2
Keith Taylor	0	8
Frederick James Moore	0	1
Graham James Bennington	0	31
Anthony Ashworth Letts	5	19
Peter John Casben	3	18
Peter John Casben	3	18
John Julian Davison	0	10
DM COMPANY SERVICES LIMITED	94	188
Reginald David Hall	0	4
William Hornby Gore	35	48
William Joseph Swords	12	4
Stephen Rodger Gavin Booth	1	45

Average Invoice Value	Ł912.47
Invoices available	330
Paid	275
Outstanding	55
	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	133	104	23	4	11
Outstanding	29	17	9	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.22
UK Pound	1	Rs.102.23
Euro	1	Rs.72.39

INFORMATION DETAILS

Analysis Done by :	KAS

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%)

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	Latest Key Financials	Turnover
FILOFAX AB FILIAL I FINLAND	-