MIRA INFORM REPORT

Report No. :	309662
Report Date :	04.03.2015

IDENTIFICATION DETAILS

Name :	GWAZA LTD
Formerly Known As :	FARMPOWER INTERNATIONAL LIMITED
Registered Office :	New House Farm Shoothill Ford Shrewsbury Sy5 9nr
Country :	United Kingdom
Financials (as on) :	31.12.2013
Date of Incorporation :	31.10.1967
Legal Form :	Private limited with Share Capital
Line of Business :	Wholesale of agricultural machinery, equipment and supplies General engineers, manufacturers and distributors of farming equipment
No. of Employee :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba

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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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. 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

GWAZA LTD

Company Status

Active - Accounts Filed

Registered Address

NEW HOUSE FARM SHOOTHILL FORD SHREWSBURY SY5 9NR

Company Summary

Registered Address

NEW HOUSE FARM SHOOTHILL
FORD
SHREWSBURY
SY5 9NR

Trading Address

New House Farm
Shoothill
Ford
Shrewsbury, Shropshire
SY5 9NR

Website Address http://www.gwaza.co.uk

Telephone Number -

Fax Number -

TPS -

FPS No

Incorporation Date 31/10/1967

Previous Name FARMPOWER INTERNATIONAL LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 10/06/2003

Filing Date of Accounts 01/05/2014

Currency GBP

Share Capital £10,000

SIC07 46610

Charity Number -

SIC07 Description WHOLESALE OF AGRICULTURAL MACHINERY, EQUIPMENT AND SUPPLIES

Principal Activity General engineers, manufacturers and distributors of farming equipment. Trading as 'Farmpower International'.

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

31/12/2013 - - £1,638,848 -

31/12/2012 - - £1,298,262 -

31/12/2011 - - £1,077,264 -

Mortgage Summary

Total Mortgage 4

Outstanding 3

Satisfied 1

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 2

Total Value of Documented Trade £3,929

Commentary

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

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

The latest Balance Sheet indicates a very 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	1
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	7

Current Directors

Name	Victor Ernest Edwards	Date of Birth	07/02/1958
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Director
Appointment Date	04/08/2002
Address	103 Longden Coleham, Shrewsbury, Shropshire, SY3 7DX
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	Nadia Ann Weston	Date of Birth	23/04/1953
Officers Title	Ms	Nationality	British
Present Appointments	2	Function	Company Secretary
Appointment Date	01/04/2006
Address	The Firs Hollins Lane, Tilstock, Whitchurch, Shropshire, SY13 3NT
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
FARMPOWER INTERNATIONAL LTD	GBP	9,000	ORDINARY	1	90
MARK TUNMORE	GBP	500	ORDINARY	1	5
NOMINEE OF VICTOR EDWARDS	GBP	300	ORDINARY	1	3
CHRISTOPHER OATES	GBP	200	ORDINARY	1	2

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	-	-	-	-	-	-	-	-	-
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages & Salaries	-	-	-	-	-	-	-	-	-
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	-	-	-	-	-	-	-	-	-
Depreciation	£13,741	-3.3%	£14,210	-5.4%	£15,026	-7%	£16,165	59.5%	£10,135
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Tangible Assets	£725,556	13.3%	£640,404	14%	£561,579	999.9%	£31,242	-14.1%	£36,390
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£725,556	13.3%	£640,404	14%	£561,579	999.9%	£31,242	-14.1%	£36,390
Stock	£1,081,490	7.7%	£1,004,046	18.8%	£845,389	12.9%	£748,778	30.9%	£571,824
Trade Debtors	£720,744	30.5%	£552,257	-14.8%	£647,863	-1.2%	£655,483	36.3%	£480,993
Cash	£116,288	18.6%	£98,085	306.4%	£24,134	45.3%	£16,607	9.1%	£15,221
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£1,918,522	16%	£1,654,388	9%	£1,517,386	6.8%	£1,420,868	33%	£1,068,038
Trade Creditors	£671,116	27.6%	£525,808	-5%	£553,228	2.9%	£537,752	65.9%	£324,188
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	0	-	0	-	0	-	0	-	0
Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	0
Total Current Liabilities	£671,116	27.6%	£525,808	-5%	£553,228	2.9%	£537,752	65.9%	£324,188
Bank Loans & Overdrafts and LTL	£334,114	-29%	£470,722	5%	£448,473	999.9%	£12,473	-30.8%	£18,028
Other Long Term Finance	£181,334	-40.9%	£306,933	-7.7%	£332,533	-	0	-	0
Total Long Term Liabilities	£334,114	-29%	£470,722	5%	£448,473	999.9%	£12,473	-30.8%	£18,028

.

Capital & Reserves

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Called Up Share Capital	£10,000	-	£10,000	-	£10,000	-	£10,000	11.1%	£9,000
P & L Account Reserve	£1,549,013	24.9%	£1,239,988	20%	£1,033,252	21.5%	£850,206	18.5%	£717,174
Revaluation Reserve	£31,561	-	-	-	-	-	-	-	-
Sundry Reserves	£48,274	-	£48,274	41.9%	£34,012	-18.4%	£41,679	15.7%	£36,038
Shareholder Funds	£1,638,848	26.2%	£1,298,262	20.5%	£1,077,264	19.4%	£901,885	18.3%	£762,212

Other Financial Items

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Worth	£1,638,848	26.2%	£1,298,262	20.5%	£1,077,264	19.4%	£901,885	18.3%	£762,212
Working Capital	£1,247,406	10.5%	£1,128,580	17.1%	£964,158	9.2%	£883,116	18.7%	£743,850
Total Assets	£2,644,078	15.2%	£2,294,792	10.4%	£2,078,965	43.2%	£1,452,110	31.5%	£1,104,428
Total Liabilities	£1,005,230	0.9%	£996,530	-0.5%	£1,001,701	82.1%	£550,225	60.8%	£342,216
Net Assets	£1,638,848	26.2%	£1,298,262	20.5%	£1,077,264	19.4%	£901,885	18.3%	£762,212

Cash Flow

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
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	(%)	31/12/10	(%)	31/12/09
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£1,972,962	11.5%	£1,768,984	15.9%	£1,525,737	66.9%	£914,358	17.2%	£780,240
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors	TURNER PEACHEY
Auditor Comments	The audit report contains no adverse comments
Bankers	NATIONAL WESTMINSTER BANK PLC
Bank Branch Code

Ratios

Date Of Accounts	31/12/13	31/12/12	31/12/11	31/12/10	31/12/09
Pre-tax profit margin %	-	-	-	-	-
Current ratio	2.86	3.15	2.74	2.64	3.29
Sales/Net Working Capital	-	-	-	-	-
Gearing %	20.40	36.30	41.60	1.40	2.40
Equity in %	62	56.60	51.80	62.10	69
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	1.24	1.23	1.21	1.24	1.53
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	0.40	0.40	0.51	0.59	0.42
Total Debt Ratio	0.61	0.76	0.92	0.61	0.44
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

Event History View Documents

Date	Description
03/02/2015	Annual Returns
23/05/2014	Change in Reg.Office
23/05/2014	Change of Company Postcode
13/05/2014	New Accounts Filed
14/02/2014	Annual Returns
16/04/2013	New Accounts Filed
16/04/2013	New Accounts Filed
11/03/2013	Annual Returns
06/04/2012	New Accounts Filed
06/02/2012	Annual Returns
25/05/2011	New Accounts Filed
02/02/2011	Annual Returns
31/05/2010	New Accounts Filed
31/05/2010	New Accounts Filed
15/02/2010	Annual Returns

Previous Company Names

Date	Previous Name
10/06/2003	FARMPOWER INTERNATIONAL LIMITED
17/06/1985	SALOP FENCING CO.LIMITED

Writ Details

No writs found

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	FARMPOWER INTERNATIONAL LTD
Ownership Status	Wholly Owned
Ultimate Holding Company	FARMPOWER INTERNATIONAL LTD

Group structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Rating	Limit	Turnover
FARMPOWER INTERNATIONAL LTD	04459357	31.12.2013	N	80	£25,000
GWAZA LTD	00920639	31.12.2013	N	73	£150,000

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Mortgage Details

Mortgage Type:	LEGAL CHARGE
Date Charge Created:	07/01/11
Date Charge Registered:	12/01/11
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	SANTANDER UK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE MORTGAGOR TO THE GROUP OR ANY GROUP MEMBER ON ANY ACCOUNT WHATSOEVER UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	NEW HOUSE FARM, SHOOT HILL, FORD, SHREWSBURY

Mortgage Type:	DEBENTURE
Date Charge Created:	04/10/02
Date Charge Registered:	09/10/02
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:	MORTGAGE DEBENTURE
Date Charge Created:	15/09/81
Date Charge Registered:	21/09/81
Date Charge Satisfied:	22/01/00
Status:	SATISFIED
Person(s) Entitled:	NATIONAL WESTMINSTER BANK LTD
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	A SPECIFIC EQUITABLE CHARGE OVER THE COMPANY\S ESTATE OR INTEREST IN ALL F/H ORL/H PROPERTIES A FIXED & FLOATING CHARGE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL &BOOK DEBTS.

Mortgage Type:	CHARGE
Date Charge Created:	08/04/75
Date Charge Registered:	16/04/75
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	NATIONAL WESTMINSTER BANK LTD
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	SECOND MORTGAGE ON LAND AND BUILDINGS AT 30 31 AND 32 ENNERDALE RD, SHREWSBURY,SALOP

Creditor Details

	Total Number	Total Value
Trade Creditors	0	-

No Creditor Data

Trade Debtors / Bad Debt Detail

	Total Number of Documented Trade	Total Value of Documented Trade
Trade Debtors	2	£3,929

Company Name	Amount	Statement Date
Affordable Tractors (Bristol) Ltd	£2,701	10/08/2011
Abertawe Towing Centre Limited	£1,228	02/10/2009

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Gwyneth Anne May Price	2	2
Gwyneth Anne May Price	2	2
John Derek Price	1	2
John Derek Price	1	2
Raymond Stuart Cannon	1	1
Gloria Jean Cannon	0	2
Helen Rowe	0	2

Average Invoice Value	£178.41
Invoices available	42
Paid	39
Outstanding	3

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	34	4	1	0	0
Outstanding	0	0	0	0	3

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.84
UK Pound	1	Rs.95.14
Euro	1	Rs.69.25

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	ASH

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.