MIRA INFORM REPORT

 

 

Report No. :

350353

Report Date :

17.11.2015

 

IDENTIFICATION DETAILS

 

Name :

PLEXUS COTTON LIMITED

 

 

Formerly Known As :

SOFTWORTHY LIMITED

 

 

Registered Office :

20 Chapel Streetliverpooll3 9AG

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

15.10.1990

 

 

Com. Reg. No.:

02548312

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

·         Other professional, scientific and technical activities n.e.c.

·         A group engaged in cotton merchanting and growing cotton in sub-Saharan and Eastern Africa. Accounts data converted from US Dollar.

 

 

No. of Employee :

2327 (31.12.2014)

 

 

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 :

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

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 has been a net importer of energy since 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 6.0% in 2014.

 

In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.7% and in 2014, 2.6%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

 

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).

 

Source : CIA

 

 

 

 

Company Name

 

PLEXUS COTTON LIMITED

 

 

Company No

 

02548312

 

 

Registered Address

 

20 CHAPEL STREETLIVERPOOLL3 9AG

 

 

Company Summary

 

Registered Address

 

20 CHAPEL STREET
LIVERPOOL
L3 9AG

 

Trading Address

 

Unity Building
20 Chapel Street
Liverpool
Merseyside
L3 9AG

 

Website Address          http://www.plexus-cotton.com

Telephone Number      01516508888

Fax Number

TPS                              Yes

FPS                              No

Incorporation Date       15/10/1990

Previous Name            SOFTWORTHY LIMITED

Type                            Private limited with Share Capital

FTSE Index                  -

Date of Change            11/12/1990

Filing Date of Accounts 16/09/2015

Currency                      GBP

Share Capital              £210,000

SIC07                           74909

Charity Number-

SIC07 Description        OTHER PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES N.E.C.

Principal Activity         A group engaged in cotton merchanting and growing cotton in sub-Saharan and Eastern Africa. Accounts data converted from US Dollar.

 

 

Key Financials

 

Year to Date                 Turnover          Pre Tax Profit              Shareholder    Funds Employees

31/12/2014                    £265,979,402     -£4,619,397                   £19,498,911      2327

31/12/2013                    £261,598,997     -£920,314                      £19,282,366      3187

31/12/2012                    £288,473,120     £1,533,993                    £17,792,069      3416

 

 

Mortgage Summary

 

Total Mortgage                        25

Outstanding                 20

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 Large company in respect of the rating/limit generated.

This company's return on total assets employed ratio indicates a poor or negative return on 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.

This company's bank loans and overdrafts (less cash) account for a high percentage of short term liabilities.

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

5

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

12

 

 

Current Directors

 

Name

Nicholas Peter Francis Earlam

Date of Birth

20/06/1958

Officers Title

Mr

Nationality

British

Present Appointments

11

Function

Director

Appointment Date

15/10/1991

 

 

Address

20 Chapel Street, Liverpool, L3 9AG

 

Name

Peter Max Egli

Date of Birth

26/09/1959

Officers Title

Mr

Nationality

 

Present Appointments

2

Function

Director

Appointment Date

21/11/2012

 

 

Address

20 Chapel Street, Liverpool, L3 9AG

 

Name

Daniel Crausaz

Date of Birth

28/05/1957

Officers Title

Mr

Nationality

French

Present Appointments

1

Function

Director

Appointment Date

27/11/2013

 

 

Address

20 Chapel Street, Liverpool, L3 9AG

 

Name

Christopher John Harman

Date of Birth

10/10/1956

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

25/03/2014

 

 

Address

20 Chapel Street, Liverpool, L3 9AG

 

Name

Colin Scott Burns

Date of Birth

03/06/1964

Officers Title

Mr

Nationality

British

Present Appointments

8

Function

Director

Appointment Date

25/03/2014

 

 

Address

20 Chapel Street, Liverpool, L3 9AG

 

 

Current Company Secretary

 

Name

Ann Marie Adlington

Date of Birth

07/06/1951

Officers Title

Mrs

Nationality

British

Present Appointments

3

Function

Company Secretary

Appointment Date

21/07/2009

 

 

Address

20 Chapel Street, Liverpool, L3 9AG

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

NICHOLAS PETER FRANCIS EARLAM

GBP

76,700

ORDINARY

1

36.52

PAIGE LEWIS EARLAM

GBP

50,000

ORDINARY

1

23.81

PLEXUS LIVERPOOL LTD

GBP

33,000

ORDINARY

1

15.71

FRITZ ALEXANDER GROBIEN

GBP

33,000

ORDINARY

1

15.71

DAVID JONATHAN EARLAM

GBP

7,800

ORDINARY

1

3.71

JENNIFER MARY BURRETT

GBP

5,000

ORDINARY

1

2.38

MARK ENGLISH

GBP

4,000

ORDINARY

1

1.9

NICOLA JOANNE EARLAM

GBP

200

ORDINARY

1

0.1

WILLIAM HOWARD EARLAM

GBP

100

ORDINARY

1

0.05

JONATHAN PETER FREDERICK EARLAM

GBP

100

ORDINARY

1

0.05

JAMIE LOUISE EARLAM

GBP

100

ORDINARY

1

0.05

 

 

Financials

 

Profit & Loss

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

Y

(%)

Y

(%)

Y

(%)

Y

(%)

Y

Turnover

£265,979,402

1.7%

£261,598,997

-9.3%

£288,473,120

-14.5%

£337,438,164

30.7%

£258,174,900

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

£256,298,937

3.3%

£248,127,682

-9.6%

£274,334,657

-13.4%

£316,616,978

30%

£243,474,139

Gross Profit

£9,680,465

-28.1%

£13,471,314

-4.7%

£14,138,462

-32.1%

£20,821,186

41.6%

£14,700,761

Wages & Salaries

£6,711,560

-8.9%

£7,370,436

20.2%

£6,129,453

5.4%

£5,816,899

17.2%

£4,964,530

Directors Emoluments

£837,790

4.9%

£798,838

32.6%

£602,217

-23.7%

£788,866

30.5%

£604,282

Operating Profit

-£4,278,075

-596.2%

£862,217

-76.2%

£3,615,672

-58.3%

£8,676,209

13.8%

£7,625,435

Depreciation

£1,841,289

68.2%

£1,094,606

14.3%

£957,264

-8.4%

£1,045,446

-10%

£1,162,131

Audit Fees

£56,777

10.3%

£51,495

-37%

£81,797

59%

£51,448

26.6%

£40,629

Interest Payments

£2,115,931

19.4%

£1,771,968

-10.8%

£1,987,434

-19.2%

£2,460,919

1.7%

£2,419,708

Pre Tax Profit

-£4,619,397

-401.9%

-£920,314

-160%

£1,533,993

-75.4%

£6,225,183

19.3%

£5,216,690

Taxation

£832,508

999.9%

£43,573

112.2%

-£358,604

76%

-£1,497,263

-60.3%

-£933,832

Profit After Tax

-£3,786,888

-331.9%

-£876,741

-174.6%

£1,175,390

-75.1%

£4,727,920

10.4%

£4,282,858

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-£3,761,141

-324.8%

-£885,324

-183.1%

£1,065,734

-73.8%

£4,068,993

2.7%

£3,962,982

 

 

Balance Sheet

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

Tangible Assets

£22,593,253

14.4%

£19,754,407

18.9%

£16,619,643

28.5%

£12,933,184

-7.7%

£14,014,575

Intangible Assets

£363,108

-24.7%

£481,944

-10.6%

£539,387

-

0

100%

-£215,400

Total Fixed Assets

£22,956,361

13.4%

£20,236,350

17.9%

£17,159,030

32.7%

£12,933,184

-6.3%

£13,799,175

Stock

£16,279,791

-5.3%

£17,196,805

-25.6%

£23,115,998

20.1%

£19,248,730

-12%

£21,883,142

Trade Debtors

£32,034,726

44.4%

£22,183,931

-24.7%

£29,448,758

12.6%

£26,149,990

-3%

£26,954,727

Cash

£10,755,925

-22.1%

£13,798,772

-10.8%

£15,467,370

7.7%

£14,362,509

11.6%

£12,868,567

Other Debtors

£6,236,879

0%

£6,235,558

34.7%

£4,628,653

19.7%

£3,868,478

24.2%

£3,113,633

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£65,307,322

9.9%

£59,415,066

-18.2%

£72,660,779

14.2%

£63,629,708

-1.8%

£64,820,070

Trade Creditors

£19,324,619

17.8%

£16,404,569

-29%

£23,091,696

25.3%

£18,423,587

9.5%

£16,825,745

Bank Loans & Overdrafts

£40,275,962

18.6%

£33,955,899

-24.5%

£44,985,478

20.5%

£37,347,141

-16.5%

£44,751,709

Other Short Term Finance

£830,527

236.4%

£246,914

86.8%

£132,179

-20.8%

£166,876

-43.5%

£295,370

Miscellaneous Current Liabilities

£3,955,239

14.7%

£3,448,208

30%

£2,653,073

-24.9%

£3,532,748

59.4%

£2,216,561

Total Current Liabilities

£64,386,347

19.1%

£54,055,589

-23.7%

£70,862,427

19.2%

£59,470,352

-7.2%

£64,089,385

Bank Loans & Overdrafts and LTL

£44,654,387

10.9%

£40,269,360

-12.7%

£46,150,791

7.8%

£42,821,714

-17.5%

£51,900,555

Other Long Term Finance

£3,611,936

-9.2%

£3,977,025

717.3%

£486,634

-33.8%

£735,440

17%

£628,789

Total Long Term Liabilities

£4,378,425

-30.6%

£6,313,461

441.8%

£1,165,313

-78.7%

£5,474,573

-23.4%

£7,148,846

.

Capital & Reserves

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

Called Up Share Capital

£237,011

-

£237,011

11.4%

£212,791

-10.1%

£236,792

2.3%

£231,523

P & L Account Reserve

£8,280,187

2.1%

£8,113,818

0.4%

£8,079,545

6.7%

£7,570,741

121.1%

£3,423,836

Revaluation Reserve

£7,940,186

7.9%

£7,356,572

17%

£6,290,084

-

-

-

-

Sundry Reserves

£3,041,526

-14.9%

£3,574,965

11.4%

£3,209,650

-15.8%

£3,810,435

2.3%

£3,725,655

Shareholder Funds

£19,498,911

1.1%

£19,282,366

8.4%

£17,792,069

53.1%

£11,617,967

57.4%

£7,381,014

 

Other Financial Items

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

Net Worth

£19,135,802

1.8%

£18,800,423

9%

£17,252,682

48.5%

£11,617,967

52.9%

£7,596,414

Working Capital

£920,974

-82.8%

£5,359,477

198%

£1,798,352

-56.8%

£4,159,356

469.2%

£730,685

Total Assets

£88,263,683

10.8%

£79,651,416

-11.3%

£89,819,809

17.3%

£76,562,892

-2.6%

£78,619,244

Total Liabilities

£68,764,772

13.9%

£60,369,050

-16.2%

£72,027,740

10.9%

£64,944,924

-8.8%

£71,238,230

Net Assets

£19,498,911

1.1%

£19,282,366

8.4%

£17,792,069

53.1%

£11,617,967

57.4%

£7,381,014

 

 

Cash Flow

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

Net Cashflow from Operations

-£4,364,561

-139%

£11,177,791

999.9%

-£833,975

-105.6%

£14,954,159

999.9%

-£285,051

Net Cashflow before Financing

-£8,074,206

-207%

£7,544,728

227.7%

-£5,907,770

-148.5%

£12,189,169

387.3%

-£4,242,228

Net Cashflow from Financing

-£1,828,745

-204.8%

£1,744,240

186.2%

-£2,023,591

53.3%

-£4,337,445

-77.5%

-£2,443,570

Increase in Cash

-£9,902,951

-206.6%

£9,288,968

217.1%

-£7,931,362

-201%

£7,851,725

217.4%

-£6,685,799

 

Miscellaneous

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£23,877,335

-6.7%

£25,595,828

35%

£18,957,382

10.9%

£17,092,540

17.6%

£14,529,859

Number of Employees

2327

-27%

3187

-6.7%

3416

141.8%

1413

1.7%

1389

Accountants

 

Auditors

PRICEWATERHOUSECOOPERS LLP

Auditor Comments

The audit report contains no adverse comments

Bankers

HSBC BANK PLC

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

31/12/14

31/12/13

31/12/12

31/12/11

31/12/10

Pre-tax profit margin %

-1.74

-0.35

0.53

1.84

2.02

Current ratio

1.01

1.10

1.03

1.07

1.01

Sales/Net Working Capital

288.80

48.81

160.41

81.13

353.33

Gearing %

229

208.80

259.40

368.60

703.20

Equity in %

22.20

24.40

19.90

15.20

9.40

Creditor Days

26.44

22.82

29.13

19.87

23.72

Debtor Days

43.84

30.86

37.15

28.20

38

Liquidity/Acid Test

0.76

0.78

0.69

0.74

0.66

Return On Capital Employed %

-19.34

-3.59

8.09

36.42

35.90

Return On Total Assets Employed %

-5.23

-1.15

1.70

8.13

6.63

Current Debt Ratio

3.30

2.80

3.98

5.11

8.68

Total Debt Ratio

3.52

3.13

4.04

5.59

9.65

Stock Turnover Ratio %

6.12

6.57

8.01

5.70

8.47

Return on Net Assets Employed %

-23.69

-4.77

8.62

53.58

70.67

 

 

Report Notes

 

There are no notes to display.

 

 

Status History

 

No Status History found

 

 

* Previous Company Names

 

Date

Previous Name

11/12/1990

SOFTWORTHY LIMITED

 

WRIT DETAILS

 

No writs found

 

 

Statistics

 

Group

5 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

PLEXUS COTTON LIMITED

Ownership Status

Ultimately Owned

Ultimate Holding Company

PLEXUS COTTON LIMITED

 

 

Group Structure

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

 PLEXUS COTTON LIMITED

02548312

31.12.2014

Y

£265,979,402

 MELBOURNE HOLDINGS (LI...

03198519

31.05.2015

N

 

 COTEXCO OVERSEAS COR...

03178209

31.12.2014

N

 

 PLEXUS COTTON NEWCO LI...

09816655

-

N

 

 PLEXUS RISK MANAGEMENT...

03224113

31.12.2014

N

 

 

 

Mortgage Details

 

Mortgage Type:

 

Date Charge Created:

16/10/15

 

 

Date Charge Registered:

16/10/15

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

HSBC BANK PLC;

Amount Secured:

 

Details:

SECURITY ASSIGNMENT OF CONTRACTUAL RIGHTSCONTAINS NEGATIVE PLEDGE.

Mortgage Type:

 

Date Charge Created:

05/08/15

 

 

Date Charge Registered:

06/08/15

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

HSBC BANK PLC;

Amount Secured:

 

Details:

A GENERAL PLEDGECONTAINS FIXED CHARGE.CONTAINS NEGATIVE PLEDGE.

 

Mortgage Type:

 

Date Charge Created:

20/04/15

 

 

Date Charge Registered:

01/05/15

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

SOCIETE GENERALE;

Amount Secured:

 

Details:

CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.CONTAINS NEGATIVE PLEDGE.

Mortgage Type:

 

Date Charge Created:

20/04/15

 

 

Date Charge Registered:

01/05/15

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

SOCIETE GENERALE;

Amount Secured:

 

Details:

CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.CONTAINS NEGATIVE PLEDGE.

 

Mortgage Type:

 

Date Charge Created:

16/05/13

 

 

Date Charge Registered:

22/05/13

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

BNP PARIBAS (SUISSE) SA;

Amount Secured:

 

Details:

CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.

Mortgage Type:

ASSIGNMENT OF CONTRACTS BY WAY OF SECURITY

Date Charge Created:

31/07/12

 

 

Date Charge Registered:

20/08/12

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

BMCE BANK INTERNATIONAL PLC

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:

ALL PRESENT AND FUTURE RIGHTS OF ANY KIND IN SALES CONTRACTS IN RESPECT OF FINANCED GOODS PROCEEDS OF INSURANCES PROCEEDS OF LETTERS OF CREDIT AND ANY RELATED BANK UNDERTAKING SEE IMAGE FOR FULL DETAILS

 

Mortgage Type:

DEBENTURE

Date Charge Created:

05/07/12

 

 

Date Charge Registered:

19/07/12

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

NEDBANK LIMITED

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

THE GOODS, BALANCE, THE COLLECTION ACCOUNT, THE KEY DOCUMENTS, THE INSURANCES AND THE RIGHTS

Mortgage Type:

DEBENTURE

Date Charge Created:

01/02/12

 

 

Date Charge Registered:

21/02/12

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

FBN BANK (UK) LTD

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:

A FIRST FIXED CHARGE OVER ALL THE PRESENT AND FUTURE RIGHTS OF THE COMPANY IN THE US$ DENOMINATED ACCOUNT HELD WITH THEBANK; A FIRST FLOATING CHARGE OVER ALL PRESENT AND FUTURE RIGHTS OF THE COMPANYINANY BALED COTTON LINT OWNED BY THE COMPANY; ASSIGNED ALL RIGHTS IN EACH SALES CONTRACT. SEE IMAGE FOR FULL DETAILS

 

Mortgage Type:

SECOND SUPPLEMENTAL ASSIGNMENT OF CONTRACTS

Date Charge Created:

23/09/11

 

 

Date Charge Registered:

28/09/11

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

STANDARD CHARTERED BANK

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:

ALL RIGHTS IN RESPECT OF THE CONTRACTS SEE IMAGE FOR FULL DETAILS

Mortgage Type:

THIRD SUPPLEMENTAL GENERAL MEMORANDUM OF PLEDGE

Date Charge Created:

23/09/11

 

 

Date Charge Registered:

28/09/11

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

STANDARD CHARTERED BANK

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:

ALL NEGOTIABLE INSTRUMENTS AND ALL GOODS OR PRODUCE OR THE DOCUMENTS OF TITLE AND ALL POLICIES AND CERTIFICATES OF INSURANCE RELATING THERETO SEE IMAGE FOR FULL DETAILS

 

Mortgage Type:

A TRADE FINANCE SECURITY DEED

Date Charge Created:

14/07/11

 

 

Date Charge Registered:

19/07/11

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

BANQUE CANTONALE VAUDOISE

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

FIXED CHARGE ASSIGNED RECEIVABLES, ALL AMOUNTS, CREDITS OR OTHER ASSETS AND THEINSURANCES. THE PLEDGED GOODS AND THE PLEDGED DOCUMENTS SEE IMAGE FOR FULL DETAILS

Mortgage Type:

DEBENTURE AND ASSIGNMENT

Date Charge Created:

04/07/11

 

 

Date Charge Registered:

13/07/11

 

 

Date Charge Satisfied:

17/01/12

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

NEDBANK LIMITED

Amount Secured:

 

Details:

THE GOODS, BALANCE, THE COLLECTION ACCOUNT, THE KEY DOCUMENTS, THE INSURANCES AND THE RIGHTS SEE IMAGE FOR FULL DETAILS

 

Mortgage Type:

SECOND SUPPLEMENTAL GENERAL MEMORANDUM OF PLEDGE

Date Charge Created:

08/04/11

 

 

Date Charge Registered:

11/04/11

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

STANDARD CHARTERED BANK

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

ASSIGNS ANY MONIES WHICH MAY FROM TIME TO TIME BECOME PAYABLE UNDER ALL OR ANY OF THE INSURANCE POLICIES COMPRISED IN THE MERCHANDISE SEE IMAGE FOR FULL DETAILS

Mortgage Type:

SUPPLEMENTAL ASSIGNMENT OF CONTRACTS

Date Charge Created:

08/04/11

 

 

Date Charge Registered:

11/04/11

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

STANDARD CHARTERED BANK

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

ALL RIGHTS IN RESPECT OF THE CONTRACTS SEE IMAGE FOR FULL DETAILS

 

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

26/07/10

 

 

Date Charge Registered:

04/08/10

 

 

Date Charge Satisfied:

17/01/12

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

NEDBANK LIMITED

Amount Secured:

 

Details:

FIRST FLOATING CHARGE (OVER) PRESENT AND FUTURE PLEDGED GOODS SEE IMAGE FOR FULL DETAILS

Mortgage Type:

ACCOUNT CHARGE

Date Charge Created:

12/07/10

 

 

Date Charge Registered:

14/07/10

 

 

Date Charge Satisfied:

17/01/12

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

NEDBANK LIMITED

Amount Secured:

 

Details:

CHARGE OVER BANK ACCOUNT

 

Mortgage Type:

PLEDGE OF SHARES

Date Charge Created:

26/02/10

 

 

Date Charge Registered:

13/03/10

 

 

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 UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

ALL RESPECTIVE RIGHTS TITLE AND INTEREST OF THE PLEDGE OF SHARES AND IN THE FUTURE IN AND TO THE PLEDGED PROPERTY. SHARES BEING 25,000 A SHARES AND (II) 37,500B SHARES ISSUED AND FULLY PAID UP SHARESOF THE COMPANY OWNED BY THE PLEDGOR WHICH CONSTITUTE 100% OF THE AGGREGATE ISSUED AND PAID UP SHARECAPITAL OF THE COMPANY.

Mortgage Type:

LEGAL CHARGE OVER SHARES

Date Charge Created:

31/12/09

 

 

Date Charge Registered:

04/01/10

 

 

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 UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

THE SHARES BEING 1,800,000 ORDINARY SHARES OF HKD1.00 EACH IN THE CAPITAL OF EASTERN LINKAGE LIMITEDSEE IMAGE FOR FULLDETAILS

 

Mortgage Type:

SUPPLEMENTAL GENERAL MEMORANDUM OF PLEDGE OVER GOODS

Date Charge Created:

19/10/09

 

 

Date Charge Registered:

28/10/09

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

STANDARD CHARTERED BANK

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

ALL GOODS WHICH HAVE BEEN OR WILL BE DELIVERED BY THE COMPANY INTO THE POSSESSION OF THE BANK, ALL BILLS OF LADING AND ALL DOCUMENTS OF TITLE AND THE GOODS TO WHICH THE SAME RELATE, SEE IMAGE FOR FULLDETAILS

Mortgage Type:

ASSIGNMENT OF CONTRACTS

Date Charge Created:

19/10/09

 

 

Date Charge Registered:

28/10/09

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

STANDARD CHARTERED BANK

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

ALL RIGHTS IN RESPECT OF THE CONTRACTS, FOR THE SALE AND PURCHASE OF CARGO, SEE IMAGE FOR FULL DETAILS

 

Mortgage Type:

ACCOUNT CHARGE

Date Charge Created:

29/09/09

 

 

Date Charge Registered:

08/10/09

 

 

Date Charge Satisfied:

17/01/12

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

NEDBANK LIMITED

Amount Secured:

 

Details:

ALL ITS RIGHT, TITLE AND INTEREST IN THE SECURED ASSETS SEE IMAGE FOR FULL DETAILS

Mortgage Type:

GENERAL PLEDGE AGREEMENT

Date Charge Created:

30/07/09

 

 

Date Charge Registered:

13/08/09

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

CREDIT AGRICOLE (SUISSE) S.A.

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:

PROPERTY SHARES, SECURITIES AND OTHER ASSETS SEE IMAGE FOR FULL DETAILS

 

Mortgage Type:

GENERAL DEED OF PLEDGE OF GOODS AND ASSIGNMENT OF CLAIMS

Date Charge Created:

30/07/09

 

 

Date Charge Registered:

13/08/09

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

CREDIT AGRICOLE (SUISSE) S.A.

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

ANY GOODS, AND ALL GOODS INCLUDING BILLS OF LANDING AND STORAGE CERTIICATES ANYCLAIMS FROM THE SALEOF PLEDGED GOODS SEE IMAGE FOR FULL DETAILS

Mortgage Type:

TRADE FINANCE SECURITY AGREEMENT

Date Charge Created:

07/04/09

 

 

Date Charge Registered:

18/04/09

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

BNP PARIBAS (SUISSE) SA

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

ASSIGNMENT OF MONIES RECEIVABLES AND INSURANCES AND PLEDGE AND HYPOTHECATION OF GOODS AND DOCUMENTSSEE IMAGE FOR FULLDETAILS

 

Mortgage Type:

LEGAL MORTGAGE

Date Charge Created:

09/03/01

 

 

Date Charge Registered:

29/03/01

 

 

Date Charge Satisfied:

08/11/12

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

HSBC BANK PLC

Amount Secured:

 

Details:

LAND AT CHURCH STREET/IVY STREET BIRKENHEAD WIRRALWITH THE BENEFIT OF ALL RIGHTS LICENCESGUARANTEESRENT DEPOSITS CONTRACTS DEEDS UNDERTAKINGS AND WARRANTIES RELATING TO THE PROPERTY ANY SHARES OR MEMBERSHIP RIGHTS IN ANY MANAGEMENT COMPANY FOR THEPROPERTY ANY GOODWILL OF ANY BUSINESS FROM TIME TO TIME CARRIED ON AT THE PROPERTY ANY RENTAL AND OTHER MONEY PAYABLE UNDER ANY LEASE LICENCE OR OTHER INTERESTCREATED IN RESPECT OF THE PROPERTY AND ALL OTHER PAYMENTS WHATEVER IN RESPECT OF THE PROPERTY

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

Laurence Kirby

3

10

Laurence Kirby

3

10

Amanda Mary Earlam

0

1

Mark English

0

2

David Jonathan Earlam

4

2

Christopher John Harman

3

4

Ian David Robinson

0

7

Jean Marc Derossis

2

1

Paige Earlam

1

4

Paige Earlam

1

4

Thomas Christopher Green

0

7

Didier Boiston

0

1

Average Invoice Value

Ł1329.67

Invoices available

69

Paid

66

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

19

31

13

1

2

Outstanding

1

1

1

0

0

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.17

UK Pound

1

Rs.100.66

Euro

1

Rs.70.97

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

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.