MIRA INFORM REPORT

Report No. :	315025
Report Date :	30.03.2015

IDENTIFICATION DETAILS

Name :	DAVID GANN LIMITED

Formerly Known As :	KABHILL LIMITED

Registered Office :	7 Jardine House Harrovian Business Village Harrow HA1 3EX

Country :	United Kingdom

Financials (as on) :	30.04.2014

Date of Incorporation :	27.07.1984

Com. Reg. No.:	01836630

Legal Form :	Private Limited with Share Capital

Line of Business :	Non-Specialised Wholesale Trade (Note: We tried to confirm obtain the details activity but the same is not available from any source.)

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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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. 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 and address

Company Name: DAVID GANN LIMITED

Company No: 01836630

Company Status: Active - Accounts Filed

Registered Address: 7 JARDINE HOUSE HARROVIAN BUSINESS VILLAGE HARROW HA1 3EX

Company Summary

Registered Address C/O TG Associates, 7 Jardine House, Harrovian Business Village, Harrow
HA1 3EX

Trading Address 7 Jardine House, Harrovian Business Village, Bessborough Road
Harrow, Middlesex, HA1 3EX

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

Telephone Number -

Fax Number -

TPS -

FPS No

Incorporation Date 27/07/1984

Previous Name KABHILL LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 12/11/1984

Filing Date of Accounts 13/10/2014

Currency GBP

Share Capital £50,000

SIC07 46900

Charity Number -

SIC07 Description NON-SPECIALISED WHOLESALE TRADE

Principal Activity Wholesale.

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

30/04/2014 - - £89,282 -

30/04/2013 - - £68,717 -

30/04/2012 - - £49,594 -

Mortgage Summary

Total Mortgage 2

Outstanding 1

Satisfied 1

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.

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.

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 -	-

Current Directors

Name	David Alexander Gann	Date of Birth	20/12/1944
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Director
Appointment Date	31/05/1992
Address	112 Copsewood Way, Northwood, Middlesex, HA6 2UB

Name	Julie Griffin	Date of Birth	12/04/1964
Officers Title	Mrs	Nationality	British
Present Appointments	6	Function	Director
Appointment Date	01/10/2013
Address	7 Jardine House Harrovian Business Village, Bessborough Road, Harrow, Middlesex, HA1 3EX

Current Company Secretary

Name	Brenda Catherine Gann	Date of Birth	-
Officers Title	Mrs	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	31/03/2012
Address	112 Copsewood Way, Northwood, Middlesex, HA6 2UB

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
DAVID ALEXANDER GANN	GBP	45,000	ORDINARY	1	90
JULIE GRIFFIN	GBP	5,000	ORDINARY	1	10

Profit & Loss

	Date Of Accounts	30/04/14	(%)	30/04/13	(%)	30/04/12	(%)	30/04/11	(%)	30/04/10
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Turnover	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Export	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Cost of Sales	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Gross Profit	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Wages & Salaries	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Directors Emoluments	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Operating Profit	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Depreciation	£1,819	-5.9%	£1,933	25.8%	£1,537	-3.1%	£1,586	-19%	£1,958
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Audit Fees	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Interest Payments	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Pre Tax Profit	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Taxation	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Profit After Tax	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Dividends Payable	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	30/04/14	(%)	30/04/13	(%)	30/04/12	(%)	30/04/11	(%)	30/04/10
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Tangible Assets	£10,311	-5.8%	£10,950	25.7%	£8,711	-3%	£8,985	-9.3%	£9,908
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Intangible Assets	0	-	0	-	0	-	0	-	0
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Total Fixed Assets	£10,311	-5.8%	£10,950	25.7%	£8,711	-3%	£8,985	-9.3%	£9,908
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Stock	£285,837	0.7%	£283,825	-4.6%	£297,626	-1.7%	£302,844	-24.4%	£400,530
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Trade Debtors	£155,703	23.2%	£126,386	16.6%	£108,386	-31.4%	£157,931	-49.1%	£310,303
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Cash	£149	-98.7%	£11,706	999.9%	£29	-99.9%	£20,828	131.8%	£8,987
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Other Debtors	0	-100%	£182	-19.1%	£225	60.7%	£140	-36.4%	£220
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Miscellaneous Current Assets	£5,903	7%	£5,516	-16.2%	£6,584	-19.9%	£8,218	1.7%	£8,077
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Total Current Assets	£447,592	4.7%	£427,615	3.6%	£412,850	-15.7%	£489,961	-32.7%	£728,117
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Trade Creditors	£349,621	-0.3%	£350,848	-0.6%	£352,967	-19.8%	£439,866	-33%	£656,508
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Other Short Term Finance	0	-	0	-	0	-	0	-100%	£19,000
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	0
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Total Current Liabilities	£349,621	-0.3%	£350,848	-0.6%	£352,967	-19.8%	£439,866	-34.9%	£675,508
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Bank Loans & Overdrafts and LTL	£19,000	-	£19,000	-	£19,000	-	£19,000	-	£19,000
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Other Long Term Finance	0	-	0	-	0	-	0	-	0
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Total Long Term Liabilities	£19,000	-	£19,000	-	£19,000	-	£19,000	-	£19,000

Capital & Reserves

	Date Of Accounts	30/04/14	(%)	30/04/13	(%)	30/04/12	(%)	30/04/11	(%)	30/04/10
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Called Up Share Capital	£50,000	-	£50,000	-	£50,000	-	£50,000	-	£50,000
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	P & L Account Reserve	£28,282	266.5%	£7,717	167.7%	-£11,406	45.5%	-£20,920	-19.7%	-£17,483
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Revaluation Reserve	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Sundry Reserves	£11,000	-	£11,000	-	£11,000	-	£11,000	-	£11,000
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Shareholder Funds	£89,282	29.9%	£68,717	38.6%	£49,594	23.7%	£40,080	-7.9%	£43,517

Other Financial Items

	Date Of Accounts	30/04/14	(%)	30/04/13	(%)	30/04/12	(%)	30/04/11	(%)	30/04/10
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Net Worth	£89,282	29.9%	£68,717	38.6%	£49,594	23.7%	£40,080	-7.9%	£43,517
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Working Capital	£97,971	27.6%	£76,767	28.2%	£59,883	19.5%	£50,095	-4.8%	£52,609
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Total Assets	£457,903	4.4%	£438,565	4%	£421,561	-15.5%	£498,946	-32.4%	£738,025
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Total Liabilities	£368,621	-0.3%	£369,848	-0.6%	£371,967	-18.9%	£458,866	-33.9%	£694,508
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Net Assets	£89,282	29.9%	£68,717	38.6%	£49,594	23.7%	£40,080	-7.9%	£43,517

Cash Flow

	Date Of Accounts	30/04/14	(%)	30/04/13	(%)	30/04/12	(%)	30/04/11	(%)	30/04/10
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	30/04/14	(%)	30/04/13	(%)	30/04/12	(%)	30/04/11	(%)	30/04/10
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Capital Employed	£108,282	23.4%	£87,717	27.9%	£68,594	16.1%	£59,080	-5.5%	£62,517
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Number of Employees	-	-	-	-	-	-	-	-	-
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	30/04/14	30/04/13	30/04/12	30/04/11	30/04/10
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Pre-tax profit margin %	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Current ratio	1.28	1.22	1.17	1.11	1.08
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Sales/Net Working Capital	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Gearing %	21.30	27.60	38.30	47.40	43.70
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Equity in %	19.50	15.70	11.80	8	5.90
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Creditor Days	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Debtor Days	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Liquidity/Acid Test	0.46	0.40	0.32	0.42	0.48
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Return On Capital Employed %	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Return On Total Assets Employed %	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Current Debt Ratio	3.91	5.10	7.11	10.97	15.52
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Total Debt Ratio	4.12	5.38	7.50	11.44	15.95
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Stock Turnover Ratio %	-	-	-	-	-
$Description: \\VIVEK\Foreign Report Raw2\DAVID GANN LIMITED_files\barchart-grey.png$	Return on Net Assets Employed %	-	-	-	-	-

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
16/10/2014	New Accounts Filed
02/10/2014	Change in Reg.Office
02/10/2014	Change of Company Postcode
07/06/2014	Annual Returns
08/10/2013	New Board Member Mrs J. Griffin appointed
02/10/2013	New Accounts Filed
06/07/2013	Annual Returns
29/08/2012	New Accounts Filed
29/08/2012	New Accounts Filed
16/07/2012	Annual Returns
25/06/2012	Change in Reg.Office
25/06/2012	Change of Company Postcode
27/04/2012	Ms J. Griffin has resigned as company secretary
27/04/2012	Ms J. Griffin has left the board
27/04/2012	New Company Secretary Mrs B.C. Gann appointed

Previous Company Names

Date	Previous Name
12/11/1984	KABHILL LIMITED

Writ Details

No writs found

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group structure Full

No group structure

Mortgage Details

Mortgage Type:	MORTGAGE DEBENTURE
Date Charge Created:	22/03/94
Date Charge Registered:	05/04/94
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:	A SPECIFIC EQUITABLE CHARGE OVER ALL FREEHOLD AND LEASEHOLD PROPERTIES AND/OR THE PROCEEDS OF SALE THEREOF FIXED AND FLOATING CHARGES OVER UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS AND THE BENEFITS OF ANY LICENCES
Mortgage Type:	DEBENTURE
Date Charge Created:	06/12/84
Date Charge Registered:	20/12/84
Date Charge Satisfied:	28/04/94
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	INCLUDING TRADE FIXTURES FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES FIXED PLANT ANDMACHINERY

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Jaqueline Walker	0	1
Julie Griffin	6	1
Average Invoice Value	£143.66
Invoices available	24
Paid	24
Outstanding	0

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	22	2	0	0	0
Outstanding	0	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.61
UK Pound	1	Rs.92.95
Euro	1	Rs.68.15

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	NIT

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.