MIRA INFORM REPORT

Report No. :	338542
Report Date :	28.08.2015

IDENTIFICATION DETAILS

Name :	THE RICE 'N SPICE INTERNATIONAL LIMITED
Formerly Known As :	RICE 'N SPICE INTERNATIONAL LIMITED
Registered Office :	7 Redbridge Lane East, Redbridge, Ilford, IG4 5ET
Country :	United Kingdom
Financials (as on) :	31.03.2014
Date of Incorporation :	04.01.2006
Com. Reg. No.:	05666049
Legal Form :	Private limited with Share Capital
Line of Business :	Wholesale of Other Food, including Fish, Crustaceans and Molluscs.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B

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	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 has been a net importer of energy since 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 6.0% in 2014.

In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.7% and in 2014, 2.6%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

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).

Source : CIA

Company name and address

Company Name: THE RICE 'N SPICE INTERNATIONAL LIMITED

Company No: 05666049

Company Status: Active - Accounts Filed

Registered Address: 7 REDBRIDGE LANE EAST REDBRIDGE ILFORD IG4 5ET

Company Summary

Registered Address 7 REDBRIDGE LANE EAST, REDBRIDGE, ILFORD, IG4 5ET

Trading Address 7 Redbridge Court, Redbridge Lane East, Ilford, Essex IG4 5ET

Website Address http://www.ricenspice.net

Telephone Number 02085519894

Fax Number --

TPS No

FPS No

Incorporation Date 04/01/2006

Previous Name RICE 'N SPICE INTERNATIONAL LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 12/11/2007

Filing Date of Accounts 08/12/2014

Currency GBP

Share Capital £100

SIC07 46380

Charity Number -

SIC07 Description WHOLESALE OF OTHER FOOD, INCLUDING FISH, CRUSTACEANS

AND MOLLUSCS

Principal Activity --

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

31/03/2014 - - £189,685 -

31/03/2013 - - £169,379 -

31/03/2012 - - £145,151 -

Mortgage Summary

Total Mortgage 8

Outstanding 6

Satisfied 2

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 1

Total Value of Documented Trade £1,356

Commentary

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

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

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

The latest cash balances are considered to be low in terms of the overall outstanding creditor obligations.

There has been an increase in shareholders funds compared with the previous balance sheet.

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	2
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	2

Current Directors

Name	Ajay Mathur	Date of Birth	21/11/1951
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	10/01/2006
Address	30 The Glade, Ilford, Essex, IG5 0NF

Name	Anita Mathur	Date of Birth	22/06/1951
Officers Title	Ms	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	03/01/2008
Address	30 The Glade, Ilford, Essex, IG5 0NF

Current Company Secretary

Name	Anita Mathur	Date of Birth	22/06/1951
Officers Title	Ms	Nationality	British
Present Appointments	3	Function	Company Secretary
Appointment Date	10/01/2006
Address	30 The Glade, Ilford, Essex, IG5 0NF

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
ANITA MATHUR	GBP	50	ORDINARY	1	50
AJAY MATHUR	GBP	50	ORDINARY	1	50

Financial

Profit & Loss

	Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/12/09
	Weeks	52	(%)	52	(%)	52	(%)	65	(%)	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	£518	-14.9%	£609	86.8%	£326	1.6%	£321	0.3%	£320
	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	(%)	31/12/09
	Tangible Assets	£2,934	-15%	£3,452	86.6%	£1,850	1.8%	£1,818	0.4%	£1,810
	Intangible Assets	£16,326	-7.3%	£17,606	-6.8%	£18,886	-6.3%	£20,166	-7.4%	£21,766
	Total Fixed Assets	£19,260	-8.5%	£21,058	1.6%	£20,736	-5.7%	£21,984	-6.8%	£23,576
	Stock	£90,554	-29.5%	£128,368	128.4%	£56,203	-59.2%	£137,722	91.2%	£72,021
	Trade Debtors	£921,636	56.6%	£588,405	15.9%	£507,499	47.3%	£344,560	18%	£291,894
	Cash	£5,584	-88.5%	£48,401	-31.5%	£70,625	275%	£18,834	19%	£15,827
	Other Debtors	0	-	0	-	0	-	0	-	0
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£1,017,774	33%	£765,174	20.6%	£634,327	26.6%	£501,116	32%	£379,742
	Trade Creditors	£832,784	42.3%	£585,279	34.8%	£434,182	32.4%	£327,871	67.2%	£196,124
	Bank Loans & Overdrafts	0	-	0	-	0	-100%	£38,545	999.9%	£1,253
	Other Short Term Finance	0	-	0	-	0	-100%	£2,338	-95.6%	£52,910
	Miscellaneous Current Liabilities	0	-	0	-	0	-100%	£13,573	-52.5%	£28,570
	Total Current Liabilities	£832,784	42.3%	£585,279	34.8%	£434,182	13.6%	£382,327	37.1%	£278,857
	Bank Loans & Overdrafts and LTL	£14,565	-53.9%	£31,574	-58.3%	£75,730	96.5%	£38,545	999.9%	£1,253
	Other Long Term Finance	0	-100%	£31,574	-58.3%	£75,730	-	0	-	0
	Total Long Term Liabilities	£14,565	-53.9%	£31,574	-58.3%	£75,730	-	0	-	0

.

Capital & Reserves

	Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/12/09
	Called Up Share Capital	£100	-	£100	-	£100	-	£100	-	£100
	P & L Account Reserve	£189,585	12%	£169,279	16.7%	£145,051	3.1%	£140,673	13.1%	£124,361
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£189,685	12%	£169,379	16.7%	£145,151	3.1%	£140,773	13.1%	£124,461

Other Financial Items

	Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/12/09
	Net Worth	£173,359	14.2%	£151,773	20.2%	£126,265	4.7%	£120,607	17.4%	£102,695
	Working Capital	£184,990	2.8%	£179,895	-10.1%	£200,145	68.5%	£118,789	17.7%	£100,885
	Total Assets	£1,037,034	31.9%	£786,232	20%	£655,063	25.2%	£523,100	29.7%	£403,318
	Total Liabilities	£847,349	37.4%	£616,853	21%	£509,912	33.4%	£382,327	37.1%	£278,857
	Net Assets	£189,685	12%	£169,379	16.7%	£145,151	3.1%	£140,773	13.1%	£124,461

Cash Flow

	Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/12/09
	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/12/09
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£204,250	1.6%	£200,953	-9%	£220,881	56.9%	£140,773	13.1%	£124,461
	Number of Employees	-	-	-	-	-	-	-	-	-
	Accountants
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	31/03/14	31/03/13	31/03/12	31/03/11	31/12/09
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	1.22	1.31	1.46	1.31	1.36
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	7.70	18.60	52.20	27.40	1
	Equity in %	18.60	22	22.80	28	32.60
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	1.11	1.08	1.33	0.95	1.10
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	4.39	3.45	2.99	2.71	2.24
	Total Debt Ratio	4.46	3.64	3.51	2.71	2.24
	Stock Turnover Ratio %	-	-	-	-	-
	Return on Net Assets Employed %	-	-	-	-	-

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
20/01/2015	Annual Returns
11/12/2014	New Accounts Filed
03/03/2014	Annual Returns
03/01/2014	New Accounts Filed
03/01/2014	New Accounts Filed
24/01/2013	Annual Returns
17/12/2012	New Accounts Filed
19/04/2012	Change in Reg.Office
19/04/2012	Change of Company Postcode
12/01/2012	Annual Returns
15/09/2011	Change in Reg.Office
15/09/2011	Change of Company Postcode
27/08/2011	New Accounts Filed
27/08/2011	New Accounts Filed
26/02/2011	Annual Returns

Previous Company Names

Date	Previous Name
12/11/2007	RICE 'N SPICE INTERNATIONAL LIMITED
20/01/2006	A & A INTERNATIONAL LIMITED

Writ Details

No writs found

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group Structure Full

No Group Structure

Mortgage Details

Mortgage Type:
Date Charge Created:	14/07/14
Date Charge Registered:	14/07/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC INVOICE FINANCE (UK) LTD;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.
Mortgage Type:
Date Charge Created:	15/04/14
Date Charge Registered:	16/04/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC;
Amount Secured:
Details:	NONECONTAINS NEGATIVE PLEDGE.

Mortgage Type:
Date Charge Created:	03/12/13
Date Charge Registered:	05/12/13
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:
Date Charge Created:	14/11/13
Date Charge Registered:	20/11/13
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.

Mortgage Type:	DEBENTURE
Date Charge Created:	03/01/13
Date Charge Registered:	22/01/13
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	CAVENDISH INVESTMENTS (MANCHESTER) LIMITED
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 SEE IMAGEFOR FULL DETAILS
Mortgage Type:	DEBENTURE
Date Charge Created:	22/08/11
Date Charge Registered:	10/09/11
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	EASY INVOIE FINANCE LIMITED
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 SEE IMAGEFOR FULL DETAILS

Mortgage Type:	ALL ASSETS DEBENTURE
Date Charge Created:	24/06/09
Date Charge Registered:	26/06/09
Date Charge Satisfied:	24/08/10
Status:	SATISFIED
Person(s) Entitled:	LLOYDS TSB COMMERCIAL FINANCE LIMITED
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:	ALL ASSETS DEBENTURE
Date Charge Created:	09/08/06
Date Charge Registered:	16/08/06
Date Charge Satisfied:	24/08/10
Status:	SATISFIED
Person(s) Entitled:	LLOYDS TSB COMMERCIAL FINANCE LIMITED
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 MACHINERYSEE THE MORTGAGECHARGE DOCUMENT FOR FULL DETAILS

Trade Debtors / Bad Debt Detail

	Total Number of Documented Trade	Total Value of Documented Trade
Trade Debtors	1	£1,356
Company Name	Amount	Statement Date
Elin Cash & Carry Ltd	£1,356	21/01/2015

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Anant Mathur	0	3
Anant Mathur	0	3
Average Invoice Value	Ł585.88
Invoices available	69
Paid	69
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	34	23	11	1	0
Outstanding	0	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.06
UK Pound	1	Rs.102.35
Euro	1	Rs.74.97

INFORMATION DETAILS

Analysis Done by :	TRI
Report Prepared by :	NIT

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.