MIRA INFORM REPORT

Report No. :	330451
Report Date :	11.07.2015

IDENTIFICATION DETAILS

Name :	POTTERS-BALLOTINI LIMITED
Registered Office :	Borough Flint Glassworks Pontefract Road Barnsley S71 1HJ
Country :	United Kingdom
Financials (as on) :	31.12.2013
Date of Incorporation :	14.10.1957
Com. Reg. No.:	00591872
Legal Form :	Private limited with Share Capital
Line of Business :	Manufacturing and marketing glass beads.
No. of Employee :	59

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
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 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: POTTERS-BALLOTINI LIMITED

Company No: 00591872

Company Status: Active - Accounts Filed

Registered Address: BOROUGH FLINT GLASSWORKS PONTEFRACT ROAD BARNSLEY S71 1HJ

Company Summary

Registered Address

BOROUGH FLINT GLASSWORKS
PONTEFRACT ROAD
BARNSLEY
S71 1HJ

Trading Address

Darlington Road
West Auckland
Bishop Auckland
County Durham
DL14 9PR

Website Address http://www.potters-worldwide.com

Telephone Number 01226704500

TPS No

FPS No

Incorporation Date 14/10/1957

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 23/09/2014

Currency GBP

Share Capital £4,110,234

SIC07 23120

Charity Number -

SIC07 Description SHAPING AND PROCESSING OF FLAT GLASS

Principal Activity Manufacturing and marketing glass beads.

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

31/12/2013 £14,705,000 -£963,000 £2,901,000 59

31/12/2012 £13,019,000 -£1,136,000 £606,000 56

31/12/2011 £10,591,000 -£569,000 £1,877,000 54

Mortgage Summary

Total Mortgage 6

Outstanding 1

Satisfied 5

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 2

Total Value of Documented Trade £3,757

Commentary

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

This company's ratio of total liabilities to total assets indicates the presence of moderate equity funding.

This company's return on total assets employed ratio indicates a negative return on assets.

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

The company has more cash than short term bank borrowings.

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 -	-

Total Current Directors	2
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	23

Current Directors

Name	William James Sichko	Date of Birth	15/01/1954
Officers Title	Mr	Nationality	American
Present Appointments	6	Function	Director
Appointment Date	01/06/2005
Address	1021 Puerta Del Sol, Las Vegas Nv 89138, Las Vegas, State Of Nevada

Name	Scott Randolph	Date of Birth	08/05/1962
Officers Title	Mr	Nationality	American
Present Appointments	1	Function	Director
Appointment Date	15/06/2011
Address	5740 Midnight Pass, F# 206, Sarasota, Florida, FL43 242

Current Company Secretary

Name	Richard Edward Tall	Date of Birth	-
Officers Title	Mr	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	30/03/2011
Address	20 Gresham Street, London, EC2V 7JE

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
POTTERS INTERNATIONAL HOLDINGS SARL	GBP	4,110,234	ORDINARY	1	100

Financials

Profit & Loss

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£14,705,000	13%	£13,019,000	22.9%	£10,591,000	33.2%	£7,953,000	22.8%	£6,478,000
Export	-	-	-	-	£6,367,000	36.1%	£4,678,000	29.1%	£3,623,000
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages & Salaries	£1,966,000	3.3%	£1,904,000	7.8%	£1,767,000	12.3%	£1,574,000	5.4%	£1,493,000
Directors Emoluments	-	-100%	£81,000	-32.5%	£120,000	13.2%	£106,000	23.3%	£86,000
Operating Profit	-£961,000	15%	-£1,131,000	-115.4%	-£525,000	-6.9%	-£491,000	-0.6%	-£488,000
Depreciation	£462,000	-	-	-100%	£403,000	5.2%	£383,000	13%	£339,000
Audit Fees	£21,000	-8.7%	£23,000	-20.7%	£29,000	31.8%	£22,000	-26.7%	£30,000
Interest Payments	£2,000	-60%	£5,000	-88.6%	£44,000	-25.4%	£59,000	-82.1%	£330,000
Pre Tax Profit	-£963,000	15.2%	-£1,136,000	-99.6%	-£569,000	-3.5%	-£550,000	-7.4%	-£512,000
Taxation	-	100%	-£3,000	-118.8%	£16,000	-82.2%	£90,000	220%	-£75,000
Profit After Tax	-£963,000	15.5%	-£1,139,000	-106%	-£553,000	-20.2%	-£460,000	21.6%	-£587,000
Dividends Payable	-	-	-	-100%	£140,000	-	-	-	-
Retained Profit	-£963,000	15.5%	-£1,139,000	-64.4%	-£693,000	-50.7%	-£460,000	21.6%	-£587,000

Balance Sheet

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Tangible Assets	£3,026,000	-7.2%	£3,262,000	7%	£3,049,000	9.8%	£2,777,000	8.1%	£2,569,000
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£3,026,000	-7.2%	£3,262,000	7%	£3,049,000	9.8%	£2,777,000	8.1%	£2,569,000
Stock	£2,420,000	-2.5%	£2,483,000	-7.1%	£2,672,000	-7%	£2,873,000	13.9%	£2,522,000
Trade Debtors	£1,817,000	7.6%	£1,688,000	-8.8%	£1,851,000	6.4%	£1,740,000	94.6%	£894,000
Cash	£1,019,000	999.9%	£23,000	-89.8%	£226,000	-16.3%	£270,000	8.9%	£248,000
Other Debtors	£600,000	118.2%	£275,000	-65.8%	£805,000	-	0	-100%	£178,000
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£5,856,000	31%	£4,469,000	-19.5%	£5,554,000	13.7%	£4,883,000	27.1%	£3,842,000
Trade Creditors	£946,000	41%	£671,000	-3.3%	£694,000	79.8%	£386,000	47.9%	£261,000
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	£4,660,000	-23%	£6,055,000	11.2%	£5,445,000	27.9%	£4,258,000	79.7%	£2,370,000
Miscellaneous Current Liabilities	£375,000	-6%	£399,000	-17.4%	£483,000	30.2%	£371,000	-17%	£447,000
Total Current Liabilities	£5,981,000	-16.1%	£7,125,000	7.6%	£6,622,000	32%	£5,015,000	62.9%	£3,078,000
Bank Loans & Overdrafts and LTL	0	-	0	-100%	£104,000	-89.1%	£951,000	27.8%	£744,000
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	0	-	0	-100%	£104,000	-89.1%	£951,000	27.8%	£744,000

.

Capital & Reserves

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Called Up Share Capital	£4,110,000	531.3%	£651,000	-	£651,000	-75.5%	£2,660,000	-	£2,660,000
P & L Account Reserve	-£1,363,000	-584.9%	-£199,000	-118.6%	£1,072,000	195.7%	-£1,120,000	-397.8%	-£225,000
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£154,000	-	£154,000	-	£154,000	-	£154,000	-	£154,000
Shareholder Funds	£2,901,000	378.7%	£606,000	-67.7%	£1,877,000	10.8%	£1,694,000	-34.6%	£2,589,000

Other Financial Items

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Worth	£2,901,000	378.7%	£606,000	-67.7%	£1,877,000	10.8%	£1,694,000	-34.6%	£2,589,000
Working Capital	-£125,000	95.3%	-£2,656,000	-148.7%	-£1,068,000	-709.1%	-£132,000	-117.3%	£764,000
Total Assets	£8,882,000	14.9%	£7,731,000	-10.1%	£8,603,000	12.3%	£7,660,000	19.5%	£6,411,000
Total Liabilities	£5,981,000	-16.1%	£7,125,000	5.9%	£6,726,000	12.7%	£5,966,000	56.1%	£3,822,000
Net Assets	£2,901,000	378.7%	£606,000	-67.7%	£1,877,000	10.8%	£1,694,000	-34.6%	£2,589,000

Cash Flow

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Cashflow from Operations	£981,000	84.4%	£532,000	22.9%	£433,000	-31.3%	£630,000	205.8%	£206,000
Net Cashflow before Financing	£752,000	470.4%	-£203,000	52.2%	-£425,000	-999.9%	£22,000	105.6%	-£390,000
Net Cashflow from Financing	£244,000	-	-	-100%	£381,000	-	-	-	-
Increase in Cash	£996,000	590.6%	-£203,000	-361.4%	-£44,000	-300%	£22,000	105.6%	-£390,000

Miscellaneous

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£2,901,000	378.7%	£606,000	-69.4%	£1,981,000	-25.1%	£2,645,000	-20.6%	£3,333,000
Number of Employees	59	5.4%	56	3.7%	54	8%	50	-	50
Accountants
Auditors	PRICEWATERHOUSECOOPERS LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	HSBC BANK PLC
Bank Branch Code	40-09-12

Ratios

Date Of Accounts	31/12/13	31/12/12	31/12/11	31/12/10	31/12/09
Pre-tax profit margin %	-6.55	-8.73	-5.37	-6.92	-7.90
Current ratio	0.98	0.63	0.84	0.97	1.25
Sales/Net Working Capital	-117.64	-4.90	-9.92	-60.25	8.48
Gearing %	0	0	5.50	56.10	28.70
Equity in %	32.70	7.80	21.80	22.10	40.40
Creditor Days	23.41	18.76	23.85	17.66	14.66
Debtor Days	44.97	47.19	63.61	79.63	50.23
Liquidity/Acid Test	0.57	0.27	0.43	0.40	0.42
Return On Capital Employed %	-33.19	-187.45	-28.72	-20.79	-15.36
Return On Total Assets Employed %	-10.84	-14.69	-6.61	-7.18	-7.98
Current Debt Ratio	2.06	11.75	3.52	2.96	1.18
Total Debt Ratio	2.06	11.75	3.58	3.52	1.47
Stock Turnover Ratio %	16.45	19.07	25.22	36.12	38.93
Return on Net Assets Employed %	-33.19	-187.45	-30.31	-32.46	-19.77

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
25/10/2014	Annual Returns
01/10/2014	New Accounts Filed
01/10/2014	New Accounts Filed
25/10/2013	Annual Returns
10/10/2013	New Accounts Filed
10/10/2013	New Accounts Filed
26/10/2012	Annual Returns
14/09/2012	Mr W. Mayall has left the board
20/08/2012	New Accounts Filed
20/08/2012	New Accounts Filed
29/10/2011	Annual Returns
22/09/2011	New Accounts Filed
22/09/2011	New Accounts Filed
02/08/2011	New Board Member Mr S. Randolph appointed
08/04/2011	Mr S.H. Randolph has left the board

Previous Company Names

No Previous Names found

Writ Details

No writs found

Statistics

Group	10 companies
Linkages	178 companies
Countries	In 9 countries

Summary

Holding Company	-
Ownership Status	Wholly Owned
Ultimate Holding Company	PQ CORP

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
PQ CORP		-	-
P Q HOLDING INC	N/A	-	-
POTTERS INTERNATIONAL...	N/A	-	-
POTTERS-BALLOTINI LI...	00591872	31.12.2013	N	£14,705,000
NORTHERN CULLET LI...	01447140	31.12.2013	N
PQ ACQUISITION B.V.	32127802	31.12.2013	N
PQ HOLDINGS I LIMITED	07570350	31.12.2014	N
PQ INTERMEDIATE LIMITED	07570352	31.12.2014	N
PQ INTERNATIONAL B.V.	31020172	31.12.2007	N
PQ SILICAS UK LIMITED	06458647	31.12.2013	N	£65,359,000

Other Linked Companies

Name	Number	Latest Key Financials	Turnover
PQ INTERNATIONAL COÖPERATIE U.A.	32127801	31.12.2013
BRINTONS LIMITED	00034239	04.07.2009	£87,343,000
ITRS GROUP LIMITED	02873731	31.03.2014	£10,859,000
PQ SILICA VERWALTUNGS-GMBH	HRB 22042	13.06.2008
PQ SWEDEN AB	5564934189	31.12.2013	67,020 KSEK
VECTRONIX AG	4537337	-
PQ GERMANY GMBH	HRB 20220	31.12.2013	€1,045,066,747
OBSERVINT TECHNOLOGIES, INC		-
EMERGING SOVEREIGN PARTNERS LLC		-	$202,000
TCW FUNDS MANAGEMENT, INC		-
PREMIER SALES ASSOCIATES, INC		-
VITARICH LABORATORIES, INC		-
REXALL SUNDOWN, INC		-
CHROMALLOY CASTINGS TAMPA CORP		-
POSTCARD INN AT HOLIDAY ISLE		-	$16,927,000
UNITED FOOD SERVICE SALES, LLC		-
UNITED STATES NUTRITION, INC		-
LA SIESTA RESORT & MARINA		-	$1,911,000
ALLISON TRANSMISSION, INC		-
THE HGA GROUP, INC		-

Mortgage Details

Mortgage Type:	DEPOSIT DEED
Date Charge Created:	21/04/98
Date Charge Registered:	23/04/98
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	G.E.CAPITAL CORPORATION (ESTATES) LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF A LEASE DATED 21ST APRIL 1998
Details:	ALL THE CIOMPANY'S RIGHT TITLE AND INTEREST IN AND TO THE DEPOSIT OF £9,617.13
Mortgage Type:	CHARGE
Date Charge Created:	31/10/85
Date Charge Registered:	06/11/85
Date Charge Satisfied:	12/04/11
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:
Details:	ALL BOOK & OTHER DEBTS DUE OWING OR INCURRED TO THE COMPANY.

Mortgage Type:	MORTGAGE
Date Charge Created:	02/09/76
Date Charge Registered:	08/09/76
Date Charge Satisfied:	12/04/11
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:
Details:	APPROX 1.25 ACRES OF LAND ON THE EASTERLY SIDE OF PONTEFRACT ROAD, HOYLE MILL, BARNSLEY TOGETHER WITH ALL FIXTURES ETC.
Mortgage Type:	MORTGAGE
Date Charge Created:	02/09/76
Date Charge Registered:	08/09/76
Date Charge Satisfied:	12/04/11
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:
Details:	F/H LAND AND PREMISES BEING 0.99 ACRES OF LAND NEAR THE SOUTH EASTERLY SIDE OF PONTEFRACT ROAD, BARNSLEY. TOGETHER WITHALL FIXTURES ETC.

Mortgage Type:	MORTGAGE
Date Charge Created:	02/09/76
Date Charge Registered:	08/09/76
Date Charge Satisfied:	12/04/11
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:
Details:	PLOT OF LAND SITUATE AT PONTEFRACT ROAD, HOYLE MILL, BARNSLEY TOGETHER WITH ALLFIXTURES ETC (SEE DOCM50)
Mortgage Type:	FLOATING CHARGE
Date Charge Created:	02/09/76
Date Charge Registered:	08/09/76
Date Charge Satisfied:	12/04/11
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:
Details:	FLOATING CHARGE ON THESEE DOC M49UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE INCLUDINGUNCALLED CAPITAL

Trade Debtors / Bad Debt Detail

	Total Number of Documented Trade	Total Value of Documented Trade
Trade Debtors	2	£3,757
Company Name	Amount	Statement Date
Nationwide Recycling Limited	£3,637	01/06/2011
Starline Glass Limited	£120	21/02/2014

Previous Director/Company Secretaries

Name		Current Directorships	Previous Directorships
Timothy John Palmer		5	20
Hugh Clough		0	10
Peter Humphrey Miles Minchin		0	4
Peter Humphrey Miles Minchin		0	4
William Clinton Combs		0	1
Roy Webster		0	3
Roy Webster		0	3
George Alec Whiteley		0	1
Jacky Fournier		0	4
Jacky Fournier		0	4
Andrew Charles Sutcliffe		1	8
Andrew Charles Sutcliffe		1	8
Jack Ivan Grams		0	3
Jerry Edmund Sheridan		0	3
Hans Van Doesburg		0	3
Scott Howard Randolph		2	1
Warwick Mayall		0	3
Julia Margaret Batty		0	3
Malcolm Bowe		2	14
Adrian Jules Dujacounier		0	1
Timothy H O'Leary		0	1
Cal Schnieder		0	1
Charles Schneider		0	1
Average Invoice Value	Ł2524.11
Invoices available	103
Paid	99
Outstanding	4

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	11	62	23	2	1
Outstanding	0	1	2	0	1

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.38
UK Pound	1	Rs.97.65
Euro	1	Rs.70.43

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	SDA

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.