MIRA INFORM REPORT

Report No. :	328114
Report Date :	25.06.2015

IDENTIFICATION DETAILS

Name :	EARTHMET LIMITED

Registered Office :	Units 2-3, Vulcan Industrial Estate, Walsall WS2 7BZ

Country :	United Kingdom

Financials (as on) :	31.12.2014

Date of Incorporation :	12.09.2013

Com. Reg. No.:	08688920

Legal Form :	Private limited with Share Capital

Line of Business :	Wholesale of Metals and Metal Ores

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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

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 summary

Registered Address	Units 2-3 Vulcan Industrial Estate Walsall Ws2 7bz	Trading Address	Units 2-3 Vulcan Industrial Estate Walsall West Midlands WS2 7BZ
Website Address	http://www.earthmet.co.uk	Company Number	08688920
TPS	-	FPS	No
Incorporation Date	12/09/2013	Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	28/03/2015
Currency	GBP	Share Capital	£1
SIC07	46720	Charity Number	-
SIC07 Description	Wholesale of Metals and Metal Ores

Key financials

Year To Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
31.12.2014	£1,569,793	£214,705	£167,489	-
31.12.2013	-	-	£100	-

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.

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.

Current directors

Name	Paul Russell Bird	Date of Birth	15/03/1957
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Director
Appointment Date	12/09/2013
Address	19 Highfield Road, Edgbaston, Birmingham, B15 3BH

Name	Francois Luneau	Date of Birth	26/09/1968
Officers Title	Mr	Nationality	French
Present Appointments	2	Function	Director
Appointment Date	07/11/2013
Address	Units 2-3 Vulcan Industrial Estate, Leamore Lane, Walsall, West Midlands, WS2 7BZ

Name	Paul Graham	Date of Birth	01/01/1964
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	07/11/2013
Address	Units 2-3 Vulcan Industrial Estate, Walsall, WS2 7BZ

Current company secretary

TOP 20 SHAREHOLDERS

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
GINDRE DUCHAVANAY SA	GBP	1	ORDINARY	1	100

Profit & loss

Date Of Accounts	31/12/14	(%)	31/12/13	(%)	-	(%)	-	(%)	-
Weeks	52	(%)	16	(%)	-	(%)	-	(%)	-
Currency	GBP	(%)	GBP	(%)	-	(%)	-	(%)	-
Consolidated A/cs	N	(%)	N	(%)	-	(%)	-	(%)	-
Turnover	£1,569,793	-	-	-	-	-	-	-	-
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	£1,212,274	-	-	-	-	-	-	-	-
Gross Profit	£357,519	-	-	-	-	-	-	-	-
Wages & Salaries	£94,305	-	-	-	-	-	-	-	-
Directors Emoluments	£80,000	-	-	-	-	-	-	-	-
Operating Profit	£214,705	-	-	-	-	-	-	-	-
Depreciation	-	-	-	-	-	-	-	-	-
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	£214,705	-	-	-	-	-	-	-	-
Taxation	-£47,316	-	-	-	-	-	-	-	-
Profit After Tax	£167,389	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	£167,389	-	-	-	-	-	-	-	-

Balance sheet

Date Of Accounts	31/12/14	(%)	31/12/13	(%)	-	(%)	-	(%)	-
Tangible Assets	£32,695	-	0	-	-	-	-	-	-
Intangible Assets	0	-	0	-	-	-	-	-	-
Total Fixed Assets	£32,695	-	0	-	-	-	-	-	-
Stock	£166,048	-	0	-	-	-	-	-	-
Trade Debtors	£417,329	-	0	-	-	-	-	-	-
Cash	0	-100%	£100	-	-	-	-	-	-
Other Debtors	0	-	0	-	-	-	-	-	-
Miscellaneous Current Assets	0	-	0	-	-	-	-	-	-
Total Current Assets	£583,377	999.9%	£100	-	-	-	-	-	-
Trade Creditors	£58,533	-	0	-	-	-	-	-	-
Bank Loans & Overdrafts	0	-	0	-	-	-	-	-	-
Other Short Term Finance	£233,633	-	0	-	-	-	-	-	-
Miscellaneous Current Liabilities	£149,917	-	0	-	-	-	-	-	-
Total Current Liabilities	£442,083	-	0	-	-	-	-	-	-
Bank Loans & Overdrafts and LTL	£6,500	-	0	-	-	-	-	-	-
Other Long Term Finance	0	-	0	-	0	-	-	-	-
Total Long Term Liabilities	£6,500	-	0	-	-	-	-	-	-

Capital & reserves

Date Of Accounts	31/12/14	(%)	31/12/13	(%)	-	(%)	-	(%)	-
Called Up Share Capital	£167,489	999.9%	£100	-	-	-	-	-	-
P & L Account Reserve	-	-	-	-	-	-	-	-	-
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£167,489	999.9%	£100	-	-	-	-	-	-

Other financials items

Date Of Accounts	31/12/14	(%)	31/12/13	(%)	-	(%)	-	(%)	-
Net Worth	£167,489	999.9%	£100	-	-	-	-	-	-
Working Capital	£141,294	999.9%	£100	-	-	-	-	-	-
Total Assets	£616,072	999.9%	£100	-	-	-	-	-	-
Total Liabilities	£448,583	-	-	-	-	-	-	-	-
Net Assets	£167,489	999.9%	£100	-	-	-	-	-	-

Cash flow

Date Of Accounts	31/12/14	(%)	31/12/13	(%)	-	(%)	-	(%)	-
Net Cashflow from Operations	£35,162	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-£100	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-£100	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	31/12/14	(%)	31/12/13	(%)	-	(%)	-	(%)	-
Contingent Liability	NO	-	NO	-	-	-	-	-	-
Capital Employed	£173,989	999.9%	£100	-	-	-	-	-	-
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors	JW HINKS LLP
Auditor Comments	The audit report contains no adverse comments
Bankers
Bank Branch Code

Ratios

Date Of Accounts	31/12/14	31/12/13	-	-	-
Pre-tax profit margin %	13.68	-	-	-	-
Current ratio	1.32	-	-	-	-
Sales/Net Working Capital	11.11	-	-	-	-
Gearing %	3.90	0	-	-	-
Equity in %	27.20	100	-	-	-
Creditor Days	13.57	-	-	-	-
Debtor Days	96.76	-	-	-	-
Liquidity/Acid Test	0.94	-	-	-	-
Return On Capital Employed %	123.40	-	-	-	-
Return On Total Assets Employed %	34.85	-	-	-	-
Current Debt Ratio	2.63	-	-	-	-
Total Debt Ratio	2.67	-	-	-	-
Stock Turnover Ratio %	10.57	-	-	-	-
Return on Net Assets Employed %	128.19	-	-	-	-

Status history

No status history found

Event history

Date	Description
08/05/2015	Change in Reg.Office
08/05/2015	Change of Company Postcode
18/04/2015	New Accounts Filed
27/09/2014	Annual Returns
19/08/2014	New Accounts Filed
19/11/2013	New Board Member Mr F. Luneau appointed
12/11/2013	New Board Member Mr F. Luneau appointed
12/11/2013	New Board Member Mr P. Graham appointed
16/09/2013	New Board Member Mr P.R. Bird appointed

Previous Company Names

No Previous Names found

Writ Details

No writs found

Holding Company	-
Ownership Status	Wholly Owned
Ultimate Holding Company	UMCOR AG

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
UMCOR AG	N/A	-	-
GINDRE DUCHAVANAY SA	N/A	-	-
EARTHMET LIMITED	08688920	31.12.2014	N	£1,569,793
METELEC LIMITED	04416364	31.12.2013	N	£23,306,035

Oher linked companies

Name	Number	Latest Key Financials	Turnover
ATB AUSTRIA ANTRIEBSTECHNIK	FN80022F	31.12.2014	€335,675,000
LINDETEVES-JACOBERG		31.12.2014	€31,620,726
ATB WELZHEIM GMBH	HRB 282126	31.12.2013	€73,138,775
ETABLISSEMENTS GINDRE DUCHAVANY	955508817	31.12.2011	€310,633,050
ATB SPECIAL PRODUCTS LIMITED	00476716	31.12.2013	£2,794,768
EMCO ITALIA S.R.L.	MI1570058	31.03.2014	€14,163,786
EMCO MAGDEBURG GMBH	HRB 16968	31.03.2014	€15,014,226
GINDRE COMPOSANTS	315064188	31.12.2011	€14,745,916
ATB MORLEY LIMITED	04036931	31.12.2013	£21,296,966
ATB NORDENHAM GMBH	HRB 100435	31.12.2013	€31,551,196
EMCO FAMUP S.R.L.	PN83617	31.03.2014	€14,773,574
AE&E INOVA GMBH	HRB 63407	31.12.2009	€177,719,480
DOOSAN LENTJES GMBH	HRB 52649	31.12.2013
KUPFERRHEYDT GMBH	HRB 6342	31.12.2013	€31,182,619
A-TEC MECHANICAL ENGINEERING INVESTMENT GMBH	HRB 12870	31.12.2011
A-TEC GEBRAUCHTMASCHINENHANDEL DEUTSCHLAND GMBH	HRB 47108	31.12.2012
ATB LAURENCE SCOTT LIMITED	06241009	31.12.2013	£24,576,737
DS TECH LIMITED	07931869	28.02.2014
BABCOCK POWER ESPAÑA	15239	-
AE & E INOVA HOLDING AG IN LIQUIDATION	676351	-

Previous director / company secretaries

No Previous Director Details

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.66
UK Pound	1	Rs.100.50
Euro	1	Rs.71.31

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	TPT

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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