MIRA INFORM REPORT

Report No. :	320398
Report Date :	06.05.2015

IDENTIFICATION DETAILS

Name :	MATALAN RETAIL LTD
Formerly Known As :	MATALAN DISCOUNT CLUB (CASH & CARRY) LTD. MATALAN (CASH & CARRY) LIMITED MATALAN (SALFORD) LIMITED
Registered Office :	Matalan Head Office, Perimeter Road, Liverpool, L33 7sz
Country :	United Kingdom
Financials (as on) :	01.03.2014
Date of Incorporation :	25.02.1987
Com. Reg. No.:	02103564
Legal Form :	Private Limited With Share Capital
Line of Business :	Sale of clothing and homewares through out of town retail outlets.
No. of Employees :	15995

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. 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	Matalan Head Office Perimeter Road Liverpool L33 7sz	Trading Address	Matalan Head Office Perimeter Road Liverpool L33 7sz L33 7sz
Website Address	http://www.matalan.co.uk	Company Number	02103564
TPS	-	FPS	No
Incorporation Date	25/02/1987
Previous Name	MATALAN DISCOUNT CLUB (CASH & CARRY) LTD.	Type	Private limited with Share Capital
FTSE Index	-	Date of Change	03/03/1998
Filing Date of Accounts	19/08/2014	Currency	GBP
Share Capital	£1,000	SIC07	47710
Charity Number	-	SIC07 Description	Retail Sale of Clothing in Specialized Stores
Principal Activity	Sale of clothing and homewares through out of town retail outlets.

Key Financials

Year To Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
01/03/2014	£1,122,900,000	£11,400,000	£255,300,000	15995
23.02/2013	£1,125,400,000	£17,600,000	£291,000,000	16373
25/02/2012	£1,117,500,000	£9,900,000	£263,400,000	15858

Mortgage summary

Total Mortgage 10

Outstanding 2

Satisfied 8

Trade debtors/Bad debt summary

Total Number of Documented Trade 1

Total Value of Documented Trade £500

Commentary

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

This company's return on total assets employed ratio indicates a relatively efficient use of assets.

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

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

The company has more cash than short term bank borrowings.

This company trades in an industry with a higher level of corporate failures.

Ccj

Total Number of Exact CCJs -	1	Total Value of Exact CCJs -	£285
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	John Nicholas Mills	Date of Birth	26/04/1955
Officers Title	Mr	Nationality	British
Present Appointments	27	Function	Director
Appointment Date	02/01/2007
Address	8 Welbeck Road Ellesmere Park, Eccles, Manchester, Lancashire, M30 9EH

Name	Allan Leslie Leighton	Date of Birth	12/04/1953
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	05/02/2013
Address	Matalan Head Office Perimeter Road, Knowsley Industrial Park, Liverpool, L33 7SZ

Name	Stephen Mark Hill	Date of Birth	18/09/1976
Officers Title	Mr	Nationality	British
Present Appointments	10	Function	Director
Appointment Date	29/07/2013
Address	Matalan Head Office Perimeter Road, Knowsley Industrial Park, Liverpool, L33 7SZ

Name	John Jason Hargreaves	Date of Birth	15/07/1968
Officers Title	Mr	Nationality	British
Present Appointments	9	Function	Director
Appointment Date	08/01/2014
Address	Matalan Head Office Perimeter Road, Knowsley Industrial Park, Liverpool, L33 7SZ

Name	Arnu Kumar Misra	Date of Birth	08/01/1962
Officers Title	Mr	Nationality	British
Present Appointments	10	Function	Director
Appointment Date	07/03/2014
Address	Matalan Head Office Perimeter Road, Knowsley Industrial Park, Liverpool, L33 7SZ

Current company secretary

Name	William George Lodder	Date of Birth	-
Officers Title	Mr	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	25/04/2013
Address	Matalan Head Office Perimeter Road, Knowsley Industrial Park, Liverpool, L33 7SZ

Top 20 shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MATALAN LTD	GBP	1,000	ORDINARY	1	100

Profit & loss

	Date Of Accounts	01/03/14	(%)	23/02/13	(%)	25/02/12	(%)	26/02/11	(%)	27/02/10
	Weeks	53	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
	Turnover	£1,122,900,000	-0.2%	£1,125,400,000	0.7%	£1,117,500,000	1.9%	£1,096,500,000	-0.7%	£1,104,100,000
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	£990,800,000	0.3%	£987,400,000	-0.3%	£990,000,000	8.8%	£910,200,000	1.8%	£894,300,000
	Gross Profit	£132,100,000	-4.3%	£138,000,000	8.2%	£127,500,000	-31.6%	£186,300,000	-11.2%	£209,800,000
	Wages & Salaries	£151,000,000	0.6%	£150,100,000	6.5%	£141,000,000	0.3%	£140,600,000	-6.1%	£149,700,000
	Directors Emoluments	£900,000	-55%	£2,000,000	-28.6%	£2,800,000	-57.6%	£6,600,000	53.5%	£4,300,000
	Operating Profit	£58,800,000	-9.8%	£65,200,000	13.8%	£57,300,000	-49.9%	£114,300,000	-11.7%	£129,400,000
	Depreciation	£213,100,000	895.8%	£21,400,000	-	£21,400,000	-11.6%	£24,200,000	-2.8%	£24,900,000
	Audit Fees	£100,000	-	£100,000	-	£100,000	-	£100,000	-	£100,000
	Interest Payments	£48,000,000	0.4%	£47,800,000	-0.4%	£48,000,000	11.6%	£43,000,000	61.7%	£26,600,000
	Pre Tax Profit	£11,400,000	-35.2%	£17,600,000	77.8%	£9,900,000	-86.4%	£72,800,000	-29.5%	£103,200,000
	Taxation	-£1,900,000	56.8%	-£4,400,000	-414.3%	£1,400,000	106.7%	-£20,800,000	41.9%	-£35,800,000
	Profit After Tax	£9,500,000	-28%	£13,200,000	16.8%	£11,300,000	-78.3%	£52,000,000	-22.8%	£67,400,000
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	£9,500,000	-28%	£13,200,000	16.8%	£11,300,000	-78.3%	£52,000,000	-22.8%	£67,400,000

Balance sheet

	Date Of Accounts	01/03/14	(%)	23/02/13	(%)	25/02/12	(%)	26/02/11	(%)	27/02/10
	Tangible Assets	£173,500,000	12.1%	£154,800,000	-1.9%	£157,800,000	-4%	£164,300,000	-1.4%	£166,600,000
	Intangible Assets	£21,000,000	19.3%	£17,600,000	-12%	£20,000,000	-10.7%	£22,400,000	9.8%	£20,400,000
	Total Fixed Assets	£194,500,000	12.8%	£172,400,000	-3%	£177,800,000	-4.8%	£186,700,000	-0.2%	£187,000,000
	Stock	£135,300,000	-3.9%	£140,800,000	6.8%	£131,800,000	9.8%	£120,000,000	13.7%	£105,500,000
	Trade Debtors	£7,300,000	69.8%	£4,300,000	-	£4,300,000	48.3%	£2,900,000	-	0
	Cash	£71,600,000	-40.6%	£120,500,000	25.5%	£96,000,000	15.7%	£83,000,000	-15%	£97,700,000
	Other Debtors	£202,600,000	2.1%	£198,500,000	-0.3%	£199,000,000	-6.4%	£212,500,000	18.3%	£179,600,000
	Miscellaneous Current Assets	0	-100%	£16,900,000	525.9%	£2,700,000	107.7%	£1,300,000	-92.8%	£18,100,000
	Total Current Assets	£416,800,000	-13.3%	£481,000,000	10.9%	£433,800,000	3.4%	£419,700,000	4.7%	£400,900,000
	Trade Creditors	£60,700,000	-34.8%	£93,100,000	15.9%	£80,300,000	-0.4%	£80,600,000	12.7%	£71,500,000
	Bank Loans & Overdrafts	£26,200,000	-	0	-	0	-	0	-	0
	Other Short Term Finance	£143,200,000	-	£143,200,000	-0.9%	£144,500,000	-7.1%	£155,600,000	85%	£84,100,000
	Miscellaneous Current Liabilities	£67,900,000	0.7%	£67,400,000	5.6%	£63,800,000	-12.1%	£72,600,000	-21.9%	£93,000,000
	Total Current Liabilities	£298,000,000	-1.9%	£303,700,000	5.2%	£288,600,000	-6.5%	£308,800,000	24.2%	£248,600,000
	Bank Loans & Overdrafts and LTL	£84,200,000	43.4%	£58,700,000	-1.5%	£59,600,000	1%	£59,000,000	-6.6%	£63,200,000
	Other Long Term Finance	0	-	0	-	0	-100%	£2,500,000	-	0
	Total Long Term Liabilities	£58,000,000	-1.2%	£58,700,000	-1.5%	£59,600,000	1%	£59,000,000	-6.6%	£63,200,000

Capital & reserves

	Date Of Accounts	01/03/14	(%)	23/02/13	(%)	25/02/12	(%)	26/02/11	(%)	27/02/10
	Called Up Share Capital	-	-	-	-	-	-	-	-	-
	P & L Account Reserve	£284,700,000	3.3%	£275,700,000	5.3%	£261,800,000	5.5%	£248,200,000	-5.6%	£262,900,000
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-£29,400,000	-292.2%	£15,300,000	856.3%	£1,600,000	116.7%	-£9,600,000	-172.7%	£13,200,000
	Shareholder Funds	£255,300,000	-12.3%	£291,000,000	10.5%	£263,400,000	10.4%	£238,600,000	-13.6%	£276,100,000

Other financial items

	Date Of Accounts	01/03/14	(%)	23/02/13	(%)	25/02/12	(%)	26/02/11	(%)	27/02/10
	Net Worth	£234,300,000	-14.3%	£273,400,000	12.3%	£243,400,000	12.6%	£216,200,000	-15.4%	£255,700,000
	Working Capital	£118,800,000	-33%	£177,300,000	22.1%	£145,200,000	30.9%	£110,900,000	-27.2%	£152,300,000
	Total Assets	£611,300,000	-6.4%	£653,400,000	6.8%	£611,600,000	0.9%	£606,400,000	3.1%	£587,900,000
	Total Liabilities	£356,000,000	-1.8%	£362,400,000	4.1%	£348,200,000	-5.3%	£367,800,000	18%	£311,800,000
	Net Assets	£255,300,000	-12.3%	£291,000,000	10.5%	£263,400,000	10.4%	£238,600,000	-13.6%	£276,100,000

Cash flow

	Date Of Accounts	01/03/14	(%)	23/02/13	(%)	25/02/12	(%)	26/02/11	(%)	27/02/10
	Net Cashflow from Operations	£100,000	-99.8%	£45,500,000	36.2%	£33,400,000	103.7%	£16,400,000	-76.1%	£68,500,000
	Net Cashflow before Financing	-£48,900,000	-299.6%	£24,500,000	88.5%	£13,000,000	188.4%	-£14,700,000	-134.4%	£42,700,000
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-£48,900,000	-299.6%	£24,500,000	88.5%	£13,000,000	188.4%	-£14,700,000	-134.4%	£42,700,000

Miscellaneous

	Date Of Accounts	01/03/14	(%)	23/02/13	(%)	25/02/12	(%)	26/02/11	(%)	27/02/10
	Contingent Liability	YES	-	YES	-	YES	-	YES	-	YES
	Capital Employed	£313,300,000	-10.4%	£349,700,000	8.3%	£323,000,000	8.5%	£297,600,000	-12.3%	£339,300,000
	Number of Employees	15995	-2.3%	16373	3.2%	15858	-1.8%	16144	-2.9%	16627
	Auditors	KPMG LLP
	Auditor Comments	The audit report contains no adverse comments
	Bankers	LLOYDS TSB BANK PLC
	Bank Branch Code	30-95-42

Ratios

	Date Of Accounts	01/03/14	23/02/13	25/02/12	26/02/11	27/02/10
	Pre-tax profit margin %	1.02	1.56	0.89	6.64	9.35
	Current ratio	1.40	1.58	1.50	1.36	1.61
	Sales/Net Working Capital	9.45	6.35	7.70	9.89	7.25
	Gearing %	33	20.20	22.60	24.70	22.90
	Equity in %	43.20	45.80	44.50	40.90	48.70
	Creditor Days	20.05	30.11	26.15	26.75	23.57
	Debtor Days	2.41	1.39	1.40	0.96	-
	Liquidity/Acid Test	0.94	1.12	1.04	0.97	1.18
	Return On Capital Employed %	3.63	5.03	3.06	24.46	30.41
	Return On Total Assets Employed %	1.86	2.69	1.61	12	17.55
	Current Debt Ratio	1.16	1.04	1.09	1.29	0.90
	Total Debt Ratio	1.39	1.24	1.32	1.54	1.12
	Stock Turnover Ratio %	12.04	12.51	11.79	10.94	9.55
	Return on Net Assets Employed %	4.46	6.04	3.75	30.51	37.37

Status history

No status history found

Event history

Date	Description
03/03/2015	Change in Reg.Office
03/03/2015	Change of Company Postcode
09/09/2014	New Accounts Filed
09/09/2014	New Accounts Filed
06/08/2014	Annual Returns
18/03/2014	New Board Member Mr A.K. Misra appointed
20/01/2014	New Board Member Mr J.J. Hargreaves appointed
13/01/2014	New Board Member Mr J.J. Hargreaves appointed
26/09/2013	Mr D.A. Blackhurst has left the board
12/08/2013	Annual Returns
01/08/2013	New Board Member Mr S.M. Hill appointed
26/06/2013	New Accounts Filed
26/06/2013	New Accounts Filed
29/04/2013	Mr P.J. Gilbert has resigned as company secretary
29/04/2013	Mr P.J. Gilbert has left the board

Previous company names

Date	Previous Name
03/03/1998	MATALAN DISCOUNT CLUB (CASH & CARRY) LTD.
10/12/1992	MATALAN (CASH & CARRY) LIMITED
12/08/1988	MATALAN (SALFORD) LIMITED

Writ details

No writs found

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
MISSOURI TOPCO LTD	N/A	-	-
MATALAN GROUP LIMITED	05974909	01.03.2014	N
MATALAN FINANCE PLC	05962488	01.03.2014	N
MATALAN LIMITED	01579910	01.03.2014	N
JONMAR LIMITED	01572578	01.03.2014	N	£19,000
MATALAN RETAIL LTD.	02103564	01.03.2014	N	£1,122,900,000
MATALAN TRAVEL LI...	04137221	01.03.2014	N	£9,194
MATALAN INVESTMEN...	04250527	01.03.2014	N
HPO1 NOMINEES LIM...	01274137	01.03.2014	N	£11,934,000
MATALAN DIRECT LI...	08420456	01.03.2014	N
MATALAN HOLDING C...	04250515	01.03.2014	N
VIVAT HOLDINGS B.V.	33160220	29.02.2012	N

Exact CcJ details

Date	Court	Amount	Status	Case Number	Date Paid
12/05/2009	NORTHAMPTON CCBC	£285	Judgment	9XZ55021	-

Possible CCJs Details

There are no possible CCJ details

Mortgage details

Mortgage Type:
Date Charge Created:	02/06/14
Date Charge Registered:	04/06/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	LLOYDS BANK PLC;
Amount Secured:
Details:	THE REGISTERED TRADEMARK 'MATALAN' WITHREGISTERED NUMBER 1413902 PLEASE SEE IMAGE FOR DETAILS OF FURTHER LAND (INCLUDING BUILDINGS), SHIP, AIRCRAFT OR INTELLECTUAL PROPERTY CHARGED.CONTAINS FIXED CHARGE.CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.
Mortgage Type:	DEBENTURE
Date Charge Created:	11/04/11
Date Charge Registered:	16/04/11
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	LLOYDS TSB BANK PLC (AS SECURITY AGENT)
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM ANY MEMBER OF THE GROUP AND EACH DEBTOR TOANY SECURED PARTY ONANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THECHARGE
Details:	FIXED AND FLOATING CHARGE OVER ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, PLANT & MACHINERY SEE IMAGE FOR FULL DETAILS

Mortgage Type:	DEBENTURE
Date Charge Created:	30/03/10
Date Charge Registered:	07/04/10
Date Charge Satisfied:	15/04/11
Status:	SATISFIED
Person(s) Entitled:	THE ROYAL BANK OF SCOTLAND PLC
Amount Secured:
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:	DEED OF ACCESSION AND CHARGE
Date Charge Created:	18/01/07
Date Charge Registered:	24/01/07
Date Charge Satisfied:	07/04/10
Status:	SATISFIED
Person(s) Entitled:	KAUPTHING BANK HF (IN ITS CAPACITY AS SECURITY AGENT FOR THE BENEFICIARIES)
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVERUNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	THE CHARGING COMPANY WITH FULL TITLE GUARANTEE ASSIGNED TO THE SECURITY AGENT ALL OF ITS RIGHTS, TITLE AND INTEREST FROM TIME TO TIME IN RESPECT OF SUMS PAYABLE TO IT PURSUANT TO THE INSURANCE POLICIESSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	LEGAL CHARGE
Date Charge Created:	06/05/94
Date Charge Registered:	19/05/94
Date Charge Satisfied:	27/10/98
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:	LAND AND WAREHOUSE AT HOLME ROAD BAMBERBRIDGE PRESTON LANCASHIRE
Mortgage Type:	DEBENTURE
Date Charge Created:	25/06/92
Date Charge Registered:	29/06/92
Date Charge Satisfied:	09/02/94
Status:	SATISFIED
Person(s) Entitled:	CREDIT LYONNAIS
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

Mortgage Type:	LEGAL CHARGE
Date Charge Created:	11/04/91
Date Charge Registered:	25/04/91
Date Charge Satisfied:	25/06/92
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:	22 NEW CROSS STREET, ST HELENS, MERSEYSIDE TITLE NO: MS 293081.
Mortgage Type:	LEGAL CHARGE
Date Charge Created:	11/04/91
Date Charge Registered:	25/04/91
Date Charge Satisfied:	25/06/92
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:	20, WESTFIELD STREET, ST HELENS, MERSEYSIDE. TITLE NO: MS 293080.

Mortgage Type:	DEBENTURE
Date Charge Created:	11/04/91
Date Charge Registered:	25/04/91
Date Charge Satisfied:	27/10/98
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 ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES FIXED PLANTAND MACHINERY
Mortgage Type:	MORTGAGE DEBENTURE
Date Charge Created:	05/05/87
Date Charge Registered:	08/05/87
Date Charge Satisfied:	25/06/92
Status:	SATISFIED
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

Trade debtors/ bad debt detail

	Total Number of Documented Trade	Total Value of Documented Trade
Trade Debtors	1	£500
Company Name	Amount	Statement Date
W L J Ltd	£500	30/07/2010

Previous director/company secretaries

Name	Current Directorships	Previous Directorships
Paul John Thomas Gilbert	27	111
Paul John Thomas Gilbert	27	111
Andrew James Clarke	2	11
Philip Dutton	2	359
Philip Dutton	2	359
Ian Ashley Smith	2	45
Ian Ashley Smith	2	45
Anne Marie Hargreaves	2	6
Thomas Cunningham	0	6
John Graham Berry	52	155
Simon Nicholas Waite	0	185
Alistair Kenneth McGeorge	36	54
Angus Monro	5	28
John King	0	22
John Hargreaves	1	19
Toby Benjamin Broadhurst	2	18
Paul Mason	0	25
Danielle Hazel Davies	0	8
Darren Anthony Blackhurst	0	10

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.57
UK Pound	1	Rs.97.99
Euro	1	Rs.70.53

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%)

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.