MIRA INFORM REPORT

 

 

Report No. :

329976

Report Date :

06.07.2015

 

IDENTIFICATION DETAILS

 

Name :            

SHAKESPEARE FORGINGS LIMITED

 

 

Formerly Known As :

EMILY GREEN LIMITED

 

 

Registered Office :

Macarthur Road Cradley Heath West Midlands B64 7RP

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

18.10.2001

 

 

Com. Reg. No.:

04307044

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Forging, Pressing, Stamping And Roll-Forming Of Metal

 

 

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)

UK

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

B2

Moderate High Risk

 

C1

High Risk

C2

Very High Risk

D

 

 

UK 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 & address

 

Company Name:           SHAKESPEARE FORGINGS LIMITED

Company No:                04307044

Company Status:          Active - Accounts Filed

 

Registered Address:      MACARTHUR ROAD CRADLEY HEATH WEST MIDLANDS B64 7RP

 

 

Company Summary

 

Registered Address

MACARTHUR ROAD
CRADLEY HEATH
WEST MIDLANDS
B64 7RP

Trading Address

Macarthur Road
Cradley Heath
West Midlands
B64 7RP

Website Address

http://www.shakespeareforgings.com

 

 

Telephone Number

01384632420

Fax Number

 

TPS

No

FPS

No

Incorporation Date

18/10/2001

 

 

Previous Name

EMILY GREEN LIMITED

Type

Private limited with Share Capital

 

 

FTSE Index

-

Date of Change

17/12/2001

Filing Date of Accounts

20/11/2014

Currency

GBP

Share Capital

£150,000

SIC07

25500

Charity Number

-

SIC07 Description

FORGING, PRESSING, STAMPING AND ROLL-FORMING OF METAL

Principal Activity

Drop forgers.

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31/03/2014

-

-

£600,872

-

30/06/2013

-

-

£558,893

-

30/06/2012

£4,157,264

£317,426

£605,131

-

 

 

Mortgage Summary

 

Total Mortgage              6

Outstanding                  4

Satisfied                       2

 

 

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 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.

 

 

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

 

Trade Payment Information

 

Average Invoice Value

251.60

Invoices available

9

Paid

8

Outstanding

1

 

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

 

 

Current Directors

 

Name

Stephen Reginald Potts

Date of Birth

18/11/1950

Officers Title

Mr

Nationality

British

Present Appointments

6

Function

Director

Appointment Date

20/12/2001

Address

2 Cedar Close, Parkside, Lichfield, Staffordshire, WS14 9XD

 

Name

Rajagopal Sowmithri

Date of Birth

03/04/1958

Officers Title

Nationality

Indian

Present Appointments

1

Function

Director

Appointment Date

06/07/2005

Address

B-2, Anmol Andal, No.20,, Ranjith Road, Kotturpuram, Chennai 600 085

 

Name

Andrew Robert Lloyd

Date of Birth

02/12/1969

Officers Title

Mr

Nationality

British

Present Appointments

2

Function

Director

Appointment Date

07/04/2006

Address

23 Rindleford Avenue, Wolverhampton, Staffordshire, WV4 4RL

 

Name

Sanjeev Kumar Garg

Date of Birth

14/05/1972

Officers Title

Mr

Nationality

Indian

Present Appointments

1

Function

Director

Appointment Date

23/12/2014

Address

Macarthur Road, Cradley Heath, West Midlands, B64 7RP

 

Name

Renu Garg

Date of Birth

07/12/1976

Officers Title

Ms

Nationality

Indian

Present Appointments

1

Function

Director

Appointment Date

23/12/2014

Address

Macarthur Road, Cradley Heath, West Midlands, B64 7RP

 

Name

Ved Parkash Garg

Date of Birth

15/11/1938

Officers Title

Nationality

Indian

Present Appointments

1

Function

Director

Appointment Date

24/02/2015

Address

Macarthur Road, Cradley Heath, West Midlands, B64 7RP

 

 

Current Company Secretary

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

EL FORGE LTD

GBP

150,000

ORDINARY

1

100

 

 

Profit & Loss

 

Date Of Accounts

31/03/14

(%)

30/06/13

(%)

30/06/12

(%)

31/03/11

(%)

31/03/10

Weeks

39

(%)

52

(%)

65

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

-

-

-

-

£4,157,264

54.8%

£2,685,835

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-100%

£3,508,270

52.3%

£2,302,984

-

-

Gross Profit

-

-

-

-

£648,994

69.5%

£382,851

-

-

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

£154,834

27.9%

£121,093

-

-

Operating Profit

-

-

-

-

£353,131

999.9%

-£15,138

-

-

Depreciation

£159,248

50.2%

£106,047

-17%

£127,814

23.8%

£103,212

-2.8%

£106,204

Audit Fees

-

-

-

-

£7,950

33.6%

£5,950

-

-

Interest Payments

-

-

-

-

£35,705

-16.6%

£42,794

-

-

Pre Tax Profit

-

-

-

-

£317,426

647.9%

-£57,932

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

£317,426

647.9%

-£57,932

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

£317,426

647.9%

-£57,932

-

-

 

 

Balance Sheet

 

Date Of Accounts

31/03/14

(%)

30/06/13

(%)

30/06/12

(%)

31/03/11

(%)

31/03/10

Tangible Assets

£935,250

-4.7%

£981,198

-6.7%

£1,051,604

-24.8%

£1,398,844

62.9%

£858,773

Intangible Assets

£239,121

-25%

£318,827

-25%

£425,103

-20%

£531,378

-

£531,378

Total Fixed Assets

£1,174,371

-9.7%

£1,300,025

-12%

£1,476,707

-23.5%

£1,930,222

38.8%

£1,390,151

Stock

£360,775

9.7%

£328,917

-28.4%

£459,200

28.8%

£356,477

-36.1%

£557,845

Trade Debtors

£1,038,790

-25.3%

£1,390,081

86.6%

£744,789

-11.8%

£844,685

37.9%

£612,338

Cash

£692

-98.4%

£44,131

999.9%

£464

-38.1%

£750

-51.6%

£1,549

Other Debtors

0

-

0

-100%

£75,387

-33.2%

£112,912

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£1,400,257

-20.6%

£1,763,129

37.8%

£1,279,840

-2.7%

£1,314,824

12.2%

£1,171,732

Trade Creditors

0

-

0

-100%

£491,373

-9.9%

£545,419

53.5%

£355,359

Bank Loans & Overdrafts

£69,140

999.9%

£13

-100%

£574,828

-36.6%

£907,146

182%

£321,626

Other Short Term Finance

0

-

0

-

0

-100%

£41,420

-92.2%

£530,772

Miscellaneous Current Liabilities

£1,536,158

1.8%

£1,508,980

999.9%

£64,343

-17.3%

£77,831

-

0

Total Current Liabilities

£1,605,298

6.4%

£1,508,993

33.5%

£1,130,544

-28.1%

£1,571,816

30.1%

£1,207,757

Bank Loans & Overdrafts and LTL

£437,598

-56%

£995,281

-37.6%

£1,595,700

-30.4%

£2,292,671

47.1%

£1,558,237

Other Long Term Finance

0

-

0

-100%

£1,020,872

-26.3%

£1,385,525

999.9%

£41,419

Total Long Term Liabilities

£368,458

-63%

£995,268

-2.5%

£1,020,872

-26.3%

£1,385,525

12%

£1,236,611

 

 

Capital & Reserves

 

Date Of Accounts

31/03/14

(%)

30/06/13

(%)

30/06/12

(%)

31/03/11

(%)

31/03/10

Called Up Share Capital

£150,000

-

£150,000

-

£150,000

-

£150,000

-

£150,000

P & L Account Reserve

£240,187

27.2%

£188,822

-13.9%

£219,196

285.7%

-£118,061

-25.6%

-£94,018

Revaluation Reserve

£210,685

-4.3%

£220,071

-6.7%

£235,935

-7.8%

£255,766

315.7%

£61,533

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£600,872

7.5%

£558,893

-7.6%

£605,131

110.3%

£287,705

144.8%

£117,515

 

 

Other Financial Items

 

 

Date Of Accounts

31/03/14

(%)

30/06/13

(%)

30/06/12

(%)

31/03/11

(%)

31/03/10

Net Worth

£361,751

50.7%

£240,066

33.3%

£180,028

173.9%

-£243,673

41.1%

-£413,863

Working Capital

-£205,041

-180.7%

£254,136

70.2%

£149,296

158.1%

-£256,992

-613.4%

-£36,025

Total Assets

£2,574,628

-15.9%

£3,063,154

11.1%

£2,756,547

-15.1%

£3,245,046

26.7%

£2,561,883

Total Liabilities

£1,973,756

-21.2%

£2,504,261

16.4%

£2,151,416

-27.3%

£2,957,341

21%

£2,444,368

Net Assets

£600,872

7.5%

£558,893

-7.6%

£605,131

110.3%

£287,705

144.8%

£117,515

 

 

Cash Flow

 

Date Of Accounts

31/03/14

(%)

30/06/13

(%)

30/06/12

(%)

31/03/11

(%)

31/03/10

Net Cashflow from Operations

-

-

-

-

£507,762

494.8%

-£128,614

-

-

Net Cashflow before Financing

-

-

-

-100%

£738,105

400.2%

-£245,881

-

-

Net Cashflow from Financing

-

-

-

-

-£641,332

-540.1%

£145,713

-

-

Increase in Cash

-

-

-

-

£96,773

196.6%

-£100,168

-

-

 

 

Miscellaneous

 

Date Of Accounts

31/03/14

(%)

30/06/13

(%)

30/06/12

(%)

31/03/11

(%)

31/03/10

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£969,330

-37.6%

£1,554,161

-4.4%

£1,626,003

-2.8%

£1,673,230

23.6%

£1,354,126

Number of Employees

-

-

-

-

-

-

-

-

-

Accountants

Auditors

LANGARD LIFFORD HALL LIMITED

Auditor Comments

The audit report is qualified on more than one matter or there is an adverse opinion

Bankers

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

31/03/14

30/06/13

30/06/12

31/03/11

31/03/10

Pre-tax profit margin %

-

-

7.64

-2.16

-

Current ratio

0.87

1.17

1.13

0.84

0.97

Sales/Net Working Capital

-

-

27.85

-10.45

-

Gearing %

72.80

178.10

263.70

796.90

1326

Equity in %

25.70

20.40

26

10.60

5.80

Creditor Days

-

-

53.77

73.91

-

Debtor Days

-

-

81.51

114.47

-

Liquidity/Acid Test

0.64

0.95

0.72

0.60

0.50

Return On Capital Employed %

-

-

19.52

-3.46

-

Return On Total Assets Employed %

-

-

11.51

-1.78

-

Current Debt Ratio

2.67

2.69

1.86

5.46

10.27

Total Debt Ratio

3.28

4.48

3.55

10.27

20.80

Stock Turnover Ratio %

-

-

11.04

13.27

-

Return on Net Assets Employed %

-

-

52.45

-20.13

-

 

 

Report Notes

 

There are no notes to display.

 

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

26/02/2015

K.V. Ramachandran has left the board

26/02/2015

New Board Member V.P. Garg appointed

26/02/2015

New Board Member Ms R. Garg appointed

27/01/2015

New Board Member Mr S.K. Garg appointed

22/01/2015

V. Srikanth has left the board

22/01/2015

T.K. Ramachandran has left the board

03/12/2014

New Accounts Filed

03/12/2014

New Accounts Filed

03/12/2014

New Accounts Filed

02/11/2014

Annual Returns

31/10/2014

Mr J.J. Mundell has left the board

23/10/2013

New Accounts Filed

27/10/2012

Annual Returns

18/09/2012

New Accounts Filed

18/09/2012

New Accounts Filed

 

 

Previous Company Names

 

Date

Previous Name

17/12/2001

EMILY GREEN LIMITED

 

Writ Details

 

No writs found

 

 

Statistics

 

Group

2 companies

Linkages

1 companies

Countries

In 1 countries

 

 

Summary

 

Holding Company

-

Ownership Status

Wholly Owned

Ultimate Holding Company

EL FORGE

 

 

Group Structure

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

EL FORGE

0018-669

31.03.2015

-

€8,284,269

SHAKESPEARE FORGINGS L...

04307044

31.03.2014

N

 

 

Other Linked Companies

 

Name

Number

Latest Key Financials

Turnover

SHAKESPEARE FORGINGS LTD.

-

 

 

Mortgage Details

 

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

05/10/06

Date Charge Registered:

07/10/06

Date Charge Satisfied:

27/08/11

Status:

SATISFIED

Person(s) Entitled:

HSBC EQUIPMENT FINANCE (UK) LIMITED

Amount Secured:

Details:

LAND LYING TO THE WEST OF CRADLEY ROAD AND LAND ON THE WEST SIDE OF CRADLEY ROAD, CRADLEY HEATH, SANDWELL, WEST MIDLANDS T/NOS. WM648680 AND WM648681WITH THE BENEFIT OF ALL RIGHTS LICENCESGUARANTEES RENT DEPOSITS CONTRACTS DEEDS UNDERTAKINGS AND WARRANTIES RELATING TO THE PROPERTY ANY SHARES OR MEMBERSHIP RIGHTS IN ANY MANAGEMENT COMPANY FOR THEPROPERTY ANY GOODWILL OF ANY BUSINESS FROM TIME TO TIME CARRIED ON AT THE PROPERTY ANY RENTAL AND OTHER MONEY PAYABLE UNDER ANY LEASE LICENCE OR OTHER INTERESTCREATED IN RESPECT OF THE PROPERTY AND ALL OTHER PAYMENTS WHATEVER IN RESPECT OF THE PROPERTY

 

Mortgage Type:

CHARGE OF DEPOSIT

Date Charge Created:

06/06/06

Date Charge Registered:

13/06/06

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:

ALL DEPOSITS NOW AND IN THE FUTURE CREDITED TO ACCOUNT DESIGNATION 14526433 WITH THE BANK AND ANY DEPOSIT OR ACCOUNT OFANY OTHER DESCRIPTION OR DESIGNATION WHICH DERIVES IN WHOLE OR IN PART FROM SUCHDEPOSITS OR ACCOUNT

 

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

12/04/06

Date Charge Registered:

19/04/06

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:

L/H LAND ON THE WEST SIDE OF CRADLEY ROAD CRADLEY HEATH AND L/H LAND LYING TO THE WEST OF CRADLEY ROAD CRADLEY HEATH WEST MIDLANDS T/NOS WM648680 AND WM648681 BY WAY OF FIXED CHARGE THE BENEFIT OF ALLCOVENANTS AND RIGHTS CONCERNING THE PROPERTY AND PLANT MACHINERY FIXTURES FITTINGS FURNITURE EQUIPMENT IMPLEMENTS AND UTENSILS THE GOODWILL OF ANY BUSINESS CARRIED ON AT THE PROPERTY AND THE PROCEEDSOF ANY INSURANCE AFFECTING THE PROPERTY OR ASSETS

 

Mortgage Type:

FIXED AND FLOATING CHARGE

Date Charge Created:

29/01/04

Date Charge Registered:

03/02/04

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

ROYAL BANK OF SCOTLAND COMMERCIAL SERVICES LIMITED

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE SECURITY HOLDER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

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 MACHINERY

 

Mortgage Type:

DEBENTURE

Date Charge Created:

26/01/04

Date Charge Registered:

29/01/04

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:

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

Mortgage Type:

DEBENTURE

Date Charge Created:

03/01/02

Date Charge Registered:

05/01/02

Date Charge Satisfied:

31/01/04

Status:

SATISFIED

Person(s) Entitled:

VENTURE FINANCE PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE

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 MACHINERY

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

James Joseph Mundell

13

8

James Joseph Mundell

13

8

Stephen Reginald Potts

6

10

Paul Richard Bennett

6

131

Jane Emma Rudge

0

32

Keith While

0

2

Gerald Francis Devenney

0

1

Robert George Joseph Unitt

1

3

Robert George Joseph Unitt

1

3

Ian Campbell Murdoch

0

1

Korukkai Visweswaran Ramachandran

0

1

Tiruchirappalli Krishnamurthy Ramachandran

0

1

Venkataraman Srikanth

0

1

Narayansamy Balakrishnan

0

1

 

Average Invoice Value

Ł251.60

Invoices available

9

Paid

8

Outstanding

1

 

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

4

4

0

0

0

Outstanding

0

1

0

0

0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 63.39

UK Pound

1

Rs. 98.94

Euro

1

Rs. 70.33

 

INFORMATION DETAILS

 

Analysis Done by :

RSM

 

 

Report Prepared by :

DPT

 

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.