MIRA INFORM REPORT

Report No. :	324409
Report Date :	25.05.2015

IDENTIFICATION DETAILS

Name :	CRAZY HORSES LIMITED
Registered Office :	Unit Q, The Brewery Bells Yew Green Road Tunbridge Wells TN3 9BD
Country :	United Kingdom
Financials (as on) :	31.03.2014
Date of Incorporation :	23.03.2000
Com. Reg. No.:	03954907
Legal Form :	Private limited with Share Capital
Line of Business :	Packaging Activities.
No. of Employee :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B

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	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

T he 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	UNIT  Q,  THE  BREWERY	Trading  Address	Unit  Q,  The  Brewery
	BELLS  YEW  GREEN  ROAD		Bells  Yew  Green  Road
	TUNBRIDGE  WELLS		Bells  Yew  Green
	TN3  9BD		Tunbridge  Wells,  Kent
			TN3  9BD
Website  Address	http://www.crazybags.co.uk
Telephone  Number	08000241434	Fax  Number
TPS	No	FPS	No
Incorporation  Date	23/03/2000
Previous  Name		Type	Private  limited  with  Share  Capital
		FTSE  Index	-
Date  of  Change	-	Filing  Date  of  Accounts	13/10/2014
Currency	GBP	Share  Capital	£50,006
SIC07	82920	Charity  Number	-
SIC07  Description	PACKAGING  ACTIVITIES
Principal  Activity	Packaging  activities.

Key Financials

Year  to  Date	Turnover	Pre  Tax  Profit	Shareholder	Funds  Employees
31/03/2014	-	-	£211,415	-
31/03/2013	-	-	£171,459	-
31/03/2012	-	-	£191,953	-

Mortgage Summary

Total Mortgage 6

Outstanding 1

Satisfied 5

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.

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

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	1
Total  Current  Secretaries	1
Total  Previous  Directors  /  Company  Secretaries	5

Current Directors

Name	Andrew  Manchester  Steavenson	Date  of  Birth	04/05/1957
Officers  Title	Mr	Nationality	British
Present  Appointments	8	Function	Director
Appointment  Date	23/03/2000
Address	Unit  Q,  The  Brewery  Bells  Yew  Green  Road,  Bells  Yew  Green,  Tunbridge  Wells,  Kent,  TN3  9BD

Current Company Secretary

Name	Emma  Steavenson	Date  of  Birth	25/11/1969
Officers  Title	Ms	Nationality	British
Present  Appointments	3	Function	Company  Secretary
Appointment  Date	01/09/2000
Address	Unit  Q,  The  Brewery  Bells  Yew  Green  Road,  Bells  Yew  Green,  Tunbridge  Wells,  Kent,  TN3  9BD

Top 20 Shareholders

Name		Currency Share  Count	Share  Type	Nominal  Value	% of  Total  Share  Count
ANDREW  MANCHESTER  STEAVENSON	GBP	22,500	ORDINARY	1	44.99
JENNIFER  ANN  LIPSCOMBE	GBP	12,500	ORDINARY	1	25
EMMA  STEAVENSON	GBP	12,500	ORDINARY	1	25
JENNIE TRICKETT	GBP	2,500	ORDINARY	1	5
ANDREW  MANCHESTER  STEAVENSON	GBP	1	DEFERRED A	1	0
ANDREW  MANCHESTER  STEAVENSON	GBP	1	DEFERRED F	1	0
EMMA  STEAVENSON	GBP	1	DEFERRED E	1	0
ANDREW  MANCHESTER  STEAVENSON	GBP	1	DEFERRED C	1	0
ANDREW  MANCHESTER  STEAVENSON	GBP	1	DEFERRED D	1	0
ANDREW  MANCHESTER  STEAVENSON	GBP	1	DEFERRED B	1	0

PROFIT & LOSS

Date  Of  Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
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	£5,074	-25%	£6,768	-8.8%	£7,419	-14.6%	£8,691	-4.8%	£9,133
Audit  Fees	-	-	-	-	-	-	-	-	-
Interest  Payments	-	-	-	-	-	-	-	-	-
Pre  Tax  Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit  After  Tax	-	-	-	-	-	-	-	-	-
Dividends  Payable	-	-	-	-	-	-	-	-	-
Retained  Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Tangible Assets	£15,227	-25%	£20,301	-8.8%	£22,257	-14.7%	£26,078	-4.8%	£27,396
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£15,227	-25%	£20,301	-8.8%	£22,257	-14.7%	£26,078	-4.8%	£27,396
Stock	£195,503	5.9%	£184,557	-27.1%	£253,093	-9%	£278,208	33.1%	£208,974
Trade Debtors	£512,488	81.9%	£281,747	-23.2%	£366,915	61.6%	£226,985	-12.6%	£259,711
Cash	£36,484	5.6%	£34,539	-36.3%	£54,235	-50%	£108,457	163.3%	£41,193
Other Debtors	0	-	0	-100%	£370	-	0	-100%	£23,856
Miscellaneous	0		0		0		0		0
Current Assets
Total Current Assets	£744,475	48.6%	£500,843	-25.8%	£674,613	9.9%	£613,650	15%	£533,734
Trade Creditors	£546,699	57.4%	£347,401	-30.9%	£502,632	8.6%	£462,699	9.3%	£423,491
Bank Loans &	0		0		0		0		0
Overdrafts
Other Short Term Finance	0	-	0	-	0	-100%	£443	-	0
Miscellaneous	0		0		0		0		0
Current Liabilities
Total Current Liabilities	£546,699	57.4%	£347,401	-30.9%	£502,632	8.5%	£463,142	9.4%	£423,491
Bank Loans &
Overdrafts and	£1,588	-30.5%	£2,284	0%	£2,285	-13.2%	£2,632	-1.1%	£2,661
LTL
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£1,588	-30.5%	£2,284	0%	£2,285	-13.2%	£2,632	-1.1%	£2,661

Capital & Reserves

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Called Up Share Capital	£50,006	-	£50,006	-	£50,006	-	£50,006	-	£50,006
P & L Account Reserve	£161,409	32.9%	£121,453	-14.4%	£141,947	14.5%	£123,948	45.9%	£84,972
Revaluation
Reserve
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£211,415	23.3%	£171,459	-10.7%	£191,953	10.3%	£173,954	28.9%	£134,978

Other Financial Items

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Net Worth	£211,415	23.3%	£171,459	-10.7%	£191,953	10.3%	£173,954	28.9%	£134,978
Working Capital	£197,776	28.9%	£153,442	-10.8%	£171,981	14.3%	£150,508	36.5%	£110,243
Total Assets	£759,702	45.8%	£521,144	-25.2%	£696,870	8.9%	£639,728	14%	£561,130
Total Liabilities	£548,287	56.8%	£349,685	-30.7%	£504,917	8.4%	£465,774	9.3%	£426,152
Net Assets	£211,415	23.3%	£171,459	-10.7%	£191,953	10.3%	£173,954	28.9%	£134,978

Cash Flow

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Contingent Liability	--	NO	--	NO	--	NO	--	NO	--
Capital Employed	£213,003	22.6%	£173,743	-10.6%	£194,238	10%	£176,586	28.3%	£137,639
Number of Employees	--	--	--	--	--	--	--	--	--

Auditors
Auditor Comments	The company is exempt from audit
Bankers	HSBC BANK PLC
Bank Branch Code

Date Of Accounts	31/03/14	31/03/13	31/03/12	31/03/11	31/03/10
Pre-tax profit
margin %
Current ratio	1.36	1.44	1.34	1.32	1.26
Sales/Net Working
Capital
Gearing %	0.80	1.30	1.20	1.50	2
Equity in %	27.80	32.90	27.50	27.20	24.10
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	1	0.91	0.83	0.72	0.76
Return On Capital
Employed %
Return On Total
Assets Employed	-	-	-	-	-
%
Current Debt Ratio	2.58	2.02	2.61	2.66	3.13
Total Debt Ratio	2.59	2.03	2.63	2.67	3.15
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
10/05/2015	Annual  Returns
24/10/2014	New  Accounts  Filed
31/03/2014	Annual  Returns
27/09/2013	New  Accounts  Filed
27/03/2013	Annual  Returns
24/12/2012	New  Accounts  Filed
24/12/2012	New  Accounts  Filed
06/04/2012	Annual  Returns
14/06/2011	New  Accounts  Filed
11/04/2011	Annual  Returns
26/11/2010	New  Accounts  Filed
26/11/2010	New  Accounts  Filed
10/05/2010	Change  in  Reg.Office
23/03/2010	Annual  Returns
14/07/2009	New  Accounts  Filed

Previous Company Names

No Previous Names found

Writ Details

No writs found

Statistics

Group -

Linkages 0 companies

Countries In 0 countries

Summary

Holding Company -

Ownership Status

Ultimate Holding Company -

Group Structure

No Group Structure

Mortgage Details

Mortgage  Type:	DEBENTURE
Date  Charge  Created:	21/05/08
Date  Charge  Registered:	30/05/08
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
	FIXED  AND  FLOATING  CHARGE  OVER  THE  UNDERTAKING  AND  ALL  PROPERTY  AND  ASSETS  PRESENT  AND  FUTURE,
Details:	INCLUDING  GOODWILL,  BOOKDEBTS,  UNCALLED  CAPITAL,  BUILDINGS,  FIXTURES,  FIXED  PLANT  &  MACHINERY  SEE
	IMAGEFOR  FULL  DETAILS
Mortgage  Type:	ALL  ASSETS  DEBENTURE
Date  Charge  Created:	03/01/06
Date  Charge  Registered:	14/01/06
Date  Charge  Satisfied:	31/05/08
Status:	SATISFIED
Person(s)  Entitled:	CLOSE  INVOICE  FINANCE  LIMITED
Amount  Secured:	ALL  MONIES  DUE  OR  TO  BECOME  DUE  FROM  THE  COMPANY  TO  THE  CHARGEE
	FIXED  AND  FLOATING  CHARGES  OVER  THE  UNDERTAKING  AND  ALL  PROPERTY  AND  ASSETS  PRESENT  AND  FUTURE
Details:
	INCLUDING  GOODWILL  BOOKDEBTS  UNCALLED  CAPITAL  BUILDINGS  FIXTURESFIXED  PLANT  AND  MACHINERY
Mortgage  Type:	FIXED  CHARGE  ON  ALL  DEBTS  AND  RELATED  RIGHTS  AND  FLOATING  CHARGE  ON  ALL  OTHER  PROPERTY
Date  Charge  Created:	23/01/03
Date  Charge  Registered:	31/01/03
Date  Charge  Satisfied:	05/01/06
Status:	SATISFIED
Person(s)  Entitled:	ABBEY  NATIONAL  BUSINESS  CASHFLOW  FINANCE  LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	BY WAY OF FIXED CHARGE ALL (A) SPECIFIED DEBTS BEING ANY BOOK DEBTS THE OWNERSHIP OF WHICH SHALL FAIL TO VEST ABSOLUTELY AND EFFECTIVELY IN THE SECURITY HOLDERFOR ANY REASON TOGETHER WITH THE RELATEDRIGHTS (B) ALL OTHER DEBTS BEING ALL AMOUNTS OF INDEBTEDNESS NOW OR AT ANY TIME HEREAFTER OWING OR BECOMING DUE TO THECOMPANY ON ANY ACCOUNT WHATSOEVER; BY WAY OF FLOATING CHARGE THE UNDERTAKING AND ALL THE PROPERTY RIGHTS AND ASSETS OF THE COMPANY.
Mortgage  Type:	FIXED AND FLOATING CHARGE ON BOOK AND OTHER DEBTS
Date  Charge  Created:	05/12/01
Date  Charge  Registered:	07/12/01
Date  Charge  Satisfied:	05/01/06
Status:	SATISFIED
Person(s)  Entitled:	FIRST NATIONAL INVOICE FINANCE LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE WHETHER ARISING UNDER THE FACTORINGAGREEMENT DATED 6TH NOVEMBER 2001 OR OTHERWISE
Details:	BY WAY OF FIXED CHARGE ALL (A) SPECIFIED DEBTS BEING ANY BOOK DEBTS THE OWNERSHIP OF WHICH SHALL FAIL TO VEST ABSOLUTELY AND EFFECTIVELY IN THE SECURITY HOLDERFOR ANY REASON TOGETHER WITH THE RELATEDRIGHTS (B) ALL OTHER DEBTS BEING ALL AMOUNTS OF INDEBTEDNESS NOW OR AT ANY TIME HEREAFTER OWING OR BECOMING DUE TO THECOMPANY ON ANY ACCOUNT WHATSOEVER; BY WAY OF FLOATING CHARGE SUCH OF THE MONEYSWHICH THE COMPANY MAY RECEIVE IN RESPECT OF THE OTHER DEBTS.
Mortgage  Type:	FIXED CHARGE AND FLOATING CHARGE
Date  Charge  Created:	25/09/00
Date  Charge  Registered:	03/10/00
Date  Charge  Satisfied:	05/01/06
Status:	SATISFIED
Person(s)  Entitled:	LLOYDS TSB COMMERCIAL FINANCE LIMITED TRADING AS ALEX. LAWRIE FACTORS
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE WHETHER ARISING UNDER THE DEBT PURCHASE AGREEMENT OF EVEN DATE OR OTHERWISE
Details:	BY WAY OF FIRST FIXED CHARGE ALL OF THECOMPANY\S INVOICES WHICH DO NOT VEST ABSOLUTELY AND EFFECTIVELY IN ALF UNDER THE AGREEMENT AND ALL BOOK AND OTHER DEBTS; FLOATING CHARGE ALL PROCEEDS OF OTHER DEBTS. SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Mortgage  Type:	DEBENTURE
Date  Charge  Created:	07/04/00
Date  Charge  Registered:	14/04/00
Date  Charge  Satisfied:	05/01/06
Status:	SATISFIED
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 CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Previous Director/Company Secretaries

Name	Current  Directorships	Previous  Directorships
Nicholas  Charles  Davis	4	2
BUSINESS  ASSIST  LIMITED	16	322
Simon  Robert  Bingham	0	5

Simon  Robert  Bingham	0	5
Andrew  Manchester  Steavenson	8	1
Average  Invoice  Value		Ł130.73
Invoices  available		33
Paid		32
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	19	0	7	5	1
Outstanding	0	0	0	1	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.57
UK Pound	1	Rs.99.67
Euro	1	Rs.70.93

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	ANK

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.