MIRA INFORM REPORT

Report No. :	307152
Report Date :	07.02.2015

IDENTIFICATION DETAILS

Name :	DSPA INTERNATIONAL LIMITED

Registered Office :	Fairlawn House Firbank Lane Woking Surrey GU21 7QS

Country :	United Kingdom

Financials (as on) :	31.12.2013

Date of Incorporation :	22.04.2010

Legal Form :	Private limited with Share Capital

Line of Business :	Non-Specialised Wholesale Trade [Note: We tried to confirm / obtain the detailed activity but the same is not available from any sources]

No. of Employee :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate

Payment Behaviour :	Slow

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 and address

DSPA INTERNATIONAL LIMITED

Company No

07232824

Registered Address: Fairlawn House Firbank Lane Woking Surrey Gu21 7QS

Company Summary

Registered Address FAIRLAWN HOUSE Trading Address Fairlawn House Firbank Lane

FIRBANK LANE WOKING Woking Surrey

SURREY GU21 7QS GU21 7QS

Website Address --

Telephone Number -- Fax Number --

TPS -- FPS --

Incorporation Date 22/04/2010

Previous Name Type Private limited with Share Capital

FTSE Index --

Date of Change -- Filing Date of Accounts 29/09/2014

Currency GBP Share Capital £100

SIC07 46900 Charity Number --

SIC07 Description NON-SPECIALISED WHOLESALE TRADE

Principal Activity The company has purchased the exclusive rights for the distribution of DSPA fire suppresion products for India.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
31/12/2013	--	--	-£3,096	--
31/12/2012	--	--	-£3,014	--
31/12/2011	--	--	-£3,526	--

Mortgage Summary

Total Mortgage 0

Outstanding 0

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 Small company in respect of the rating/limit generated.

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

The negative debt/equity ratio indicates a Balance Sheet deficiency funded by creditors/debt.

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 -	-

Payment Information

DBT	-	Payment Trend
Industry DBT	-	Within Terms
Number of Experiences	-

	Within Terms	0-30 Days	31-60 Days	61-90 Days	91+ Days
Paid	0	0	0	0	0
Outstanding	0	0	0	0	0

Enquiries Trend

There have been 0 enquiries in the last 12 months.
There are an average of 0 reports taken each month.
	3 MONTHS	6 MONTHS	9 MONTHS
Enquiries	0	0	0

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

Current Directors

Name	Paul Phillip Petersen	Date of Birth	08/09/1956
Officers Title	Mr	Nationality	British
Present Appointments	19	Function	Director
Appointment Date	27/11/2014
Address	Fairlawn Firbank Lane, Woking, Surrey, GU21 7QS

Name	John Frederick Maxfield	Date of Birth	06/08/1956
Officers Title	Mr	Nationality	British
Present Appointments	14	Function	Director
Appointment Date	22/04/2010
Address	North Lodge Myskyns, Stonegate, TN5 7DS

Current Company Secretary

Name	John Frederick Maxfield	Date of Birth	-
Officers Title	Mr	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	24/02/2011
Address	Fairlawn House Firbank Lane, Woking, Surrey, GU21 7QS
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
DSPA NL BV	GBP	50	ORDINARY	1	50
JOHN MAXFIELD	GBP	25	ORDINARY	1	25
PAUL PETERSEN	GBP	25	ORDINARY	1	25

Profit & Loss

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	30/04/11	(%)	-
Weeks	52	(%)	52	(%)	35	(%)	52	(%)	-
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	-
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	-
Turnover	-	-	-	-	-	-	£3,552	-	-
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	-	-	-	-	-	-100%	£2,519	-	-
Gross Profit	-	-	-	-	-	-	£1,033	-	-
Wages & Salaries	-	-	-	-	-	-	-	-	-
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	-	-	-	-	-	-	-£4,561	-	-
Depreciation	-	-	-	-	-	-	-	-	-
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-£4,583	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-£4,583	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-£4,583	-	-

Balance Sheet

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	30/04/11	(%)	-
Tangible Assets	0	-	0	-	0	-	0	-	-
Intangible Assets	0	-	0	-	0	-	0	-	-
Total Fixed Assets	0	-	0	-	0	-	0	-	-
Stock	0	-	0	-	0	-	0	-	-
Trade Debtors	£5,964	-	0	-	0	-100%	£506	-	-
Cash	£919	-39.9%	£1,529	-	0	-	0	-	-
Other Debtors	0	-	0	-	0	-	0	-	-
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	-
Total Current Assets	£6,883	350.2%	£1,529	-	0	-100%	£506	-	-
Trade Creditors	£9,979	999.9%	£456	-66.9%	£1,376	999.9%	£11	-	-
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	-
Other Short Term Finance	0	-100%	£4,087	90.1%	£2,150	-56.8%	£4,978	-	-
Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	-
Total Current Liabilities	£9,979	119.7%	£4,543	28.8%	£3,526	-29.3%	£4,989	-	-
Bank Loans & Overdrafts and LTL	0	-	0	-	0	-	0	-	-
Other Long Term Finance	0	-	0	-	0	-	0	-	-
Total Long Term Liabilities	0	-	0	-	0	-	0	-	-

Capital & Reserves

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	30/04/11	(%)	-
Called Up Share Capital	£100	-	£100	-	£100	-	£100	-	-
P & L Account Reserve	-£3,196	-2.6%	-£3,114	14.1%	-£3,626	20.9%	-£4,583	-	-
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	-£3,096	-2.7%	-£3,014	14.5%	-£3,526	21.3%	-£4,483	-	-

Other Financial Items

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	30/04/11	(%)	-
Net Worth	-£3,096	-2.7%	-£3,014	14.5%	-£3,526	21.3%	-£4,483	-	-
Working Capital	-£3,096	-2.7%	-£3,014	14.5%	-£3,526	21.3%	-£4,483	-	-
Total Assets	£6,883	350.2%	£1,529	-	-	-100%	£506	-	-
Total Liabilities	£9,979	119.7%	£4,543	28.8%	£3,526	-29.3%	£4,989	-	-
Net Assets	-£3,096	-2.7%	-£3,014	14.5%	-£3,526	21.3%	-£4,483	-	-

Cash Flow

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

Miscellaneous

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	30/04/11	(%)	-
Contingent Liability	NO	-	NO	-	NO	-	NO	-	-
Capital Employed	-£3,096	-2.7%	-£3,014	14.5%	-£3,526	21.3%	-£4,483	-	-
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers	HSBC BANK PLC
Bank Branch Code	43-04-59

Ratios

Date Of Accounts	31/12/13	31/12/12	31/12/11	30/04/11	-
Pre-tax profit margin %	-	-	-	-129.03	-
Current ratio	0.69	0.34	-	0.10	-
Sales/Net Working Capital	-	-	-	-0.79	-
Gearing %	0	0	0	0	-
Equity in %	-45	-197.10	-	-886	-
Creditor Days	-	-	-	1.12	-
Debtor Days	-	-	-	51.85	-
Liquidity/Acid Test	0.68	0.33	-	0.10	-
Return On Capital Employed %	-	-	-	102.23	-
Return On Total Assets Employed %	-	-	-	-905.73	-
Current Debt Ratio	-3.22	-1.50	-1	-1.11	-
Total Debt Ratio	-3.22	-1.50	-1	-1.11	-
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	102.23	-

Status history

No status history found

Event History View Documents

Date	Description
16/12/2014	New Board Member Mr P.P. Petersen appointed
09/12/2014	Mr J.G. Aaldering has left the board
09/12/2014	New Board Member Mr P.P. Petersen appointed
03/10/2014	New Accounts Filed
10/09/2014	Change in Reg.Office
10/09/2014	Change of Company Postcode
27/05/2014	Annual Returns
03/10/2013	New Accounts Filed
03/10/2013	New Accounts Filed
24/05/2013	Annual Returns
27/09/2012	New Accounts Filed
27/09/2012	New Accounts Filed
15/05/2012	Annual Returns
09/03/2012	New Accounts Filed
23/01/2012	New Board Member Mr J.G. Aaldering appointed

PREVIOUS COMPANY NAMES

No Previous Names found

WRIT DETAILS

No writs found

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group structure

No group structure

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Jorg Gerald Leon Aaldering	0	1
Average Invoice Value		n/a
Invoices available		n/a
Paid		n/a
Outstanding		n/a

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.74
UK Pound	1	Rs.94.65
Euro	1	Rs.70.79

INFORMATION DETAILS

Analysis Done by :	DIV

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.