MIRA INFORM REPORT

Report No. :	332035
Report Date :	20.07.2015

IDENTIFICATION DETAILS

Name :	RELIANCE FIBRES LIMITED

Registered Office :	HYDE HOUSE EDGWARE ROAD LONDON NW9 6LH

Country :	United Kingdom

Financials (as on) :	31.12.2014

Date of Incorporation :	15.04.2004

Com. Reg. No.:	05102386

Legal Form :	Private limited with Share Capital

Line of Business :	Importer and exporter of commodities and other products

No. of Employee :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No complaints
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 and Address

Company Name: RELIANCE FIBRES LIMITED

Company No: 05102386

Company Status: Active - Accounts Filed

Status Active

Registered Address: HYDE HOUSE EDGWARE ROAD LONDON NW9 6LH

Company Summary

Registered Address

HYDE HOUSE
EDGWARE ROAD
LONDON
NW9 6LH

Trading Address

Hyde House
Edgware Road
London
NW9 6LH

Website Address

http://www.reliancefibres.com

Telephone Number 02082004000

Fax Number

TPS No

FPS No

Incorporation Date 15/04/2004

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 30/06/2015

Currency GBP

Share Capital £100,000

SIC07 52290

Charity Number -

SIC07 Description OTHER TRANSPORTATION SUPPORT ACTIVITIES

Principal Activity Importer and exporter of commodities and other products.

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

31/12/2014 - - £517,421 -

31/12/2013 - - £420,844 -

31/12/2012 - - £408,384 -

Mortgage Summary

Total Mortgage 4

Outstanding 2

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 positive net working capital position.
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	6

Current Directors

Name	Pankaj Chowdhary	Date of Birth	25/09/1966
Officers Title	Mr	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	15/04/2004
Address	20 Edgeworth Crescent, London, London, NW4 4HG

Name	Vibha Chowdhary	Date of Birth	17/03/1969
Officers Title	Mrs	Nationality	Indian
Present Appointments	1	Function	Director
Appointment Date	12/04/2010
Address	20 Edgeworth Crescent, London, London, NW4 4HG

Current Company Secretary

Name	Vibha Chowdhary	Date of Birth	-
Officers Title	Mrs	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	07/09/2010
Address	20 Edgeworth Crescent, London, London, NW4 4HG

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
PANKAJ CHOWDHARY	GBP	55,000	ORDINARY	1	55
VIBHA CHOWDHARY	GBP	30,000	ORDINARY	1	30
ANKIT CHOWDHARY	GBP	15,000	ORDINARY	1	15

Financials

Profit & Loss

Date Of Accounts	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	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	£3,319	-37.2%	£5,282	-16.6%	£6,336	-17%	£7,637	-14.8%	£8,959
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
Tangible Assets	£9,522	-40.5%	£15,995	-20.7%	£20,172	-12%	£22,910	-14.8%	£26,877
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£9,522	-40.5%	£15,995	-20.7%	£20,172	-12%	£22,910	-14.8%	£26,877
Stock	£37,920	-75.8%	£156,933	131.2%	£67,867	-50.1%	£136,013	-	0
Trade Debtors	£1,612,576	7.1%	£1,506,374	33.9%	£1,125,121	-14.7%	£1,319,676	-9.1%	£1,452,200
Cash	£231,196	63.3%	£141,579	-62%	£372,129	81.4%	£205,153	-40.3%	£343,735
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£1,881,692	4.3%	£1,804,886	15.3%	£1,565,117	-5.8%	£1,660,842	-7.5%	£1,795,935
Trade Creditors	£1,338,914	-3.4%	£1,386,387	18%	£1,175,374	-5.3%	£1,241,161	-4%	£1,293,297
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	0	-	0	-	0	-100%	£28,737	-82%	£159,992
Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	0
Total Current Liabilities	£1,338,914	-3.4%	£1,386,387	18%	£1,175,374	-7.4%	£1,269,898	-12.6%	£1,453,289
Bank Loans & Overdrafts and LTL	£34,879	155.5%	£13,650	791.6%	£1,531	-15.1%	£1,804	-23.1%	£2,347
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£34,879	155.5%	£13,650	791.6%	£1,531	-15.1%	£1,804	-23.1%	£2,347

Capital & Reserves

Date Of Accounts	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
Called Up Share Capital	£100,000	-	£100,000	-	£100,000	-	£100,000	-	£100,000
P & L Account Reserve	£417,421	30.1%	£320,844	4%	£308,384	-1.2%	£312,050	16.8%	£267,176
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£517,421	22.9%	£420,844	3.1%	£408,384	-0.9%	£412,050	12.2%	£367,176

Other Financial Items

Date Of Accounts	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
Net Worth	£517,421	22.9%	£420,844	3.1%	£408,384	-0.9%	£412,050	12.2%	£367,176
Working Capital	£542,778	29.7%	£418,499	7.4%	£389,743	-0.3%	£390,944	14.1%	£342,646
Total Assets	£1,891,214	3.9%	£1,820,881	14.9%	£1,585,289	-5.8%	£1,683,752	-7.6%	£1,822,812
Total Liabilities	£1,373,793	-1.9%	£1,400,037	19%	£1,176,905	-7.5%	£1,271,702	-12.6%	£1,455,636
Net Assets	£517,421	22.9%	£420,844	3.1%	£408,384	-0.9%	£412,050	12.2%	£367,176

Cash Flow

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

Miscellaneous

Date Of Accounts	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£552,300	27.1%	£434,494	6%	£409,915	-1%	£413,854	12%	£369,523
Number of Employees	-	-	-	-	-	-	-	-	-
Accountants	WILSON PARTNERS LIMITED
Auditors
Auditor Comments	The company is exempt from audit
Bankers	STATE BANK OF INDIA
Bank Branch Code

Ratios

Date Of Accounts	31/12/14	31/12/13	31/12/12	31/12/11	31/12/10
Pre-tax profit margin %	-	-	-	-	-
Current ratio	1.41	1.30	1.33	1.31	1.24
Sales/Net Working Capital	-	-	-	-	-
Gearing %	6.70	3.20	0.40	0.40	0.60
Equity in %	27.40	23.10	25.80	24.50	20.10
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	1.37	1.18	1.27	1.20	1.23
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	2.58	3.29	2.87	3.08	3.95
Total Debt Ratio	2.65	3.32	2.88	3.08	3.96
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
03/07/2015	New Accounts Filed
19/04/2015	Annual Returns
07/07/2014	New Accounts Filed
23/04/2014	Annual Returns
11/07/2013	New Accounts Filed
14/05/2013	Annual Returns
21/05/2012	New Accounts Filed
21/05/2012	New Accounts Filed
25/04/2012	Annual Returns
20/05/2011	New Accounts Filed
20/05/2011	New Accounts Filed
11/05/2011	Annual Returns
29/09/2010	New Accounts Filed
09/09/2010	WILSON PARTNERS LIMITED has resigned as company secretary
09/09/2010	New Company Secretary Mrs V. Chowdhary appointed

Previous Company Names

No Previous Names found

Writ Details

No writs found

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	RELIANCE FIBRES LIMITED
Ownership Status	Ultimately Owned
Ultimate Holding Company	RELIANCE FIBRES LIMITED

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
RELIANCE FIBRES LIMITED	05102386	31.12.2014	N
RELIANCE ACQUISITIONS...	08357411	31.01.2015	N

Mortgage Details

Mortgage Type:
Date Charge Created:	22/04/13
Date Charge Registered:	24/04/13
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC;
Amount Secured:
Details:	N /ANOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.
Mortgage Type:	DEBENTURE
Date Charge Created:	15/12/11
Date Charge Registered:	16/12/11
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC 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 CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY

Mortgage Type:	DEBENTURE
Date Charge Created:	11/07/05
Date Charge Registered:	15/07/05
Date Charge Satisfied:	22/09/12
Status:	SATISFIED
Person(s) Entitled:	STATE BANK OF INDIA
Amount Secured:
Details:	PLANT MACHINERY SECURITIES, DEBTS, INSURANCE, INTANGIBLE PROPERTY ALL OTHER PROPERTY ASSETS AND RIGHTS PRESENT AND FUTURE,SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Mortgage Type:	CHARGE OVER CASH DEPOSIT
Date Charge Created:	11/07/05
Date Charge Registered:	15/07/05
Date Charge Satisfied:	05/07/12
Status:	SATISFIED
Person(s) Entitled:	STATE BANK OF INDIA
Amount Secured:
Details:	THE SUM OF US$100,000 DEPOSITED IN THE ACCOUNT IN THE NAME OF THE COMPANY,SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Previous Director/Company Secretaries

Name		Current Directorships	Previous Directorships
Mangilal Baid		7	4
Mangilal Baid		7	4
WILSON PARTNERS LIMITED		0	7
Vibha Chowdhary		0	1
BHARDWAJ CORPORATE SERVICES LIMITED		210	20779
Ashok Bhardwaj		246	21544
Average Invoice Value	Ł3178.87
Invoices available	15
Paid	14
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	10	4	0	0	0
Outstanding	1	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.49
UK Pound	1	Rs.99.43
Euro	1	Rs.69.14

INFORMATION DETAILS

Analysis Done by :	KAS

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%)

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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.