MIRA INFORM REPORT

 

 

Report No. :

346860

Report Date :

21.10.2015

 

IDENTIFICATION DETAILS

 

Name :

CRABTREE OF GATESHED LIMITED

 

 

Formerly Known As :

EVER 1919 LIMITED

 

 

Registered Office :

Kingsway, Team Valley Trading Estate, Gateshead, Ne11 0su

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

15.10.2002

 

 

Com. Reg. No.:

04562891

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Manufacture and Service of Metal Printing Machines.

 

 

No. of Employees :

176 [2014]

 

 

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 – 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 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

Kingsway
Team Valley Trading Estate
Gateshead
Ne11 0su

Trading Address

Kingsway
Team Valley Trading Estate
Gateshead
Tyne and Wear
NE11 0SU

Website Address

http://www.crabpress.co.uk

Company Number

04562891

Telephone Number

01914875071

Incorporation Date

15/10/2002

TPS

No

FPS

No

Previous Name

EVER 1919 LIMITED

Type

Private limited with Share Capital

Date of Change

20/03/2003

Filing Date of Accounts

12/12/2014

Currency

GBP

Share Capital

£98,000

SIC07

28990

Charity Number

--

SIC07 Description

Manufacture Of Other Special-Purpose Machinery N.E.C.

Principal Activity

Manufacture and service of metal printing machines.

 

 

Key financials

 

Year to Date

 

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31.03.2014

£17,024,361

£100,618

£6,684,773

176

31.03.2013

£19,455,758

£277,683

£7,147,202

210

31.03.2012

£30,976,032

£2,289,523

£7,039,211

249

 

 

Mortgage summary

 

Total mortgage              10

Outstanding                  3

Satisfied                       7

 

 

Trade debtors/ bad debt summary

 

Total Number of Documented Tarde                   0

Total Value of Documented Trade                      £0


Commentary

 

This company has been treated as a Medium company.

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

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 bank loans and overdrafts (less cash) account for a moderate percentage of short term liabilities.

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

 

 

Current director

 

Name

Stephen McDowell

Date of Birth

30/05/1957

Officers Title

Mr

Nationality

British

Present Appointments

5

Function

Director

Appointment Date

12/02/2003

Address

Kingsway, Team Valley Trading Estate, Gateshead, Tyne & Wear, NE11 0SU

 

 

Name

William George Athey

Date of Birth

11/03/1959

Officers Title

Mr

Nationality

British

Present Appointments

3

Function

Director

Appointment Date

01/11/2006

Address

Kingsway, Team Valley Trading Estate, Gateshead, Tyne & Wear, NE11 0SU

 

 

Current company secretary

 

Name

Jacqueline Athey

Date of Birth

-

Officers Title

Mrs

Nationality

Present Appointments

1

Function

Company Secretary

Appointment Date

30/11/2012

Address

Kingsway, Team Valley Trading Estate, Gateshead, Tyne & Wear, NE11 0SU

 

 

Top 20 shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

CRABTREE OF GATESHEAD (HOLDINGS) LTD

GBP

98,000

ORDINARY

1

100

 

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

barchart-grey

Turnover

£17,024,361

-12.5%

£19,455,758

-37.2%

£30,976,032

42.7%

£21,706,267

44.5%

£15,018,023

barchart-grey

Export

£16,522,532

5.5%

£15,666,166

-48.5%

£30,446,668

44%

£21,137,906

52.8%

£13,835,850

barchart-grey

Cost of Sales

-

-

-

-

-

-

-

-

-

barchart-grey

Gross Profit

-

-

-

-

-

-

-

-

-

barchart-grey

Wages & Salaries

£6,245,051

-13.2%

£7,198,252

-21.7%

£9,187,682

19.8%

£7,669,437

66.2%

£4,613,371

barchart-grey

Directors Emoluments

£44,525

33.4%

£33,366

10.8%

£30,112

-8.9%

£33,058

583.7%

£4,835

barchart-grey

Operating Profit

£106,345

-63.4%

£290,511

-87.5%

£2,318,159

5.5%

£2,197,776

98.9%

£1,105,107

barchart-grey

Depreciation

£196,081

-2.4%

£200,813

109.5%

£95,854

70.9%

£56,100

-19.8%

£69,915

barchart-grey

Audit Fees

£11,400

0.9%

£11,300

2.7%

£11,000

-12%

£12,500

-

£12,500

barchart-grey

Interest Payments

£44,230

222.2%

£13,728

-53.5%

£29,499

971.1%

£2,754

-82.7%

£15,948

barchart-grey

Pre Tax Profit

£100,618

-63.8%

£277,683

-87.9%

£2,289,523

4.3%

£2,195,022

101.4%

£1,089,673

barchart-grey

Taxation

£68,119

-4.6%

£71,375

116%

-£447,034

27.5%

-£616,993

-110.1%

-£293,601

barchart-grey

Profit After Tax

£168,737

-51.7%

£349,058

-81.1%

£1,842,489

16.8%

£1,578,029

98.2%

£796,072

barchart-grey

Dividends Payable

£631,166

161.8%

£241,067

41.8%

£170,000

21.4%

£140,000

-75.4%

£569,620

barchart-grey

Retained Profit

-£462,429

-528.2%

£107,991

-93.5%

£1,672,489

16.3%

£1,438,029

535%

£226,452

Balance sheet

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

barchart-grey

Tangible Assets

£1,279,953

-5.6%

£1,356,506

4.1%

£1,303,246

266.6%

£355,452

27.9%

£277,944

barchart-grey

Intangible Assets

£35,016

-20%

£43,773

-9.1%

£48,150

-8.3%

£52,527

-7.7%

£56,904

barchart-grey

Total Fixed Assets

£1,314,969

-6.1%

£1,400,279

3.6%

£1,351,396

231.2%

£407,979

21.8%

£334,848

barchart-grey

Stock

£3,829,554

-18.9%

£4,723,084

3.5%

£4,562,121

-7.8%

£4,948,130

77%

£2,795,165

barchart-grey

Trade Debtors

£5,410,829

3.3%

£5,239,905

-4.3%

£5,475,354

-27.4%

£7,540,909

83.7%

£4,104,372

barchart-grey

Cash

£161,341

-84%

£1,010,592

26.7%

£797,721

-28.4%

£1,113,756

16.6%

£954,806

barchart-grey

Other Debtors

£2,247,867

-7.5%

£2,430,295

19.9%

£2,027,214

-13%

£2,329,579

19.8%

£1,944,695

barchart-grey

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

barchart-grey

Total Current Assets

£11,649,591

-13.1%

£13,403,876

4.2%

£12,862,410

-19.3%

£15,932,374

62.6%

£9,799,038

barchart-grey

Trade Creditors

£1,433,765

21.9%

£1,176,039

-31.5%

£1,717,790

-44.4%

£3,089,921

95.5%

£1,580,790

barchart-grey

Bank Loans & Overdrafts

£200,000

-87.5%

£1,600,000

-

0

-

0

-

0

barchart-grey

Other Short Term Finance

£40,500

-

£40,500

-

0

-

0

-

0

barchart-grey

Miscellaneous Current Liabilities

£3,862,595

19.1%

£3,242,714

-19.4%

£4,024,105

-44.7%

£7,282,925

67.1%

£4,357,291

barchart-grey

Total Current Liabilities

£5,536,860

-8.6%

£6,059,253

5.5%

£5,741,895

-44.6%

£10,372,846

74.7%

£5,938,081

barchart-grey

Bank Loans & Overdrafts and LTL

£942,927

-70.5%

£3,197,700

123.2%

£1,432,700

138.5%

£600,785

124.9%

£267,112

barchart-grey

Other Long Term Finance

0

-100%

£40,500

-

0

-

0

-

0

barchart-grey

Total Long Term Liabilities

£742,927

-53.5%

£1,597,700

11.5%

£1,432,700

138.5%

£600,785

124.9%

£267,112

 

 

Capital & reserves

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

barchart-grey

Called Up Share Capital

£98,000

-

£98,000

-

£98,000

-

£98,000

-

£98,000

barchart-grey

P & L Account Reserve

£6,284,376

-6.9%

£6,746,805

1.6%

£6,638,814

33.7%

£4,966,325

40.8%

£3,528,296

barchart-grey

Revaluation Reserve

-

-

-

-

-

-

-

-

-

barchart-grey

Sundry Reserves

£302,397

-

£302,397

-

£302,397

-

£302,397

-

£302,397

barchart-grey

Shareholder Funds

£6,684,773

-6.5%

£7,147,202

1.5%

£7,039,211

31.2%

£5,366,722

36.6%

£3,928,693

 

 

Other financials items

 

Date Of Accounts

31/03/14

(%)

31/03/13

(%)

31/03/12

(%)

31/03/11

(%)

31/03/10

barchart-grey

Net Worth

£6,649,757

-6.4%

£7,103,429

1.6%

£6,991,061

31.6%

£5,314,195

37.3%

£3,871,789

barchart-grey

Working Capital

£6,112,731

-16.8%

£7,344,623

3.1%

£7,120,515

28.1%

£5,559,528

44%

£3,860,957

barchart-grey

Total Assets

£12,964,560

-12.4%

£14,804,155

4.2%

£14,213,806

-13%

£16,340,353

61.2%

£10,133,886

barchart-grey

Total Liabilities

£6,279,787

-18%

£7,656,953

6.7%

£7,174,595

-34.6%

£10,973,631

76.8%

£6,205,193

barchart-grey

Net Assets

£6,684,773

-6.5%

£7,147,202

1.5%

£7,039,211

31.2%

£5,366,722

36.6%

£3,928,693

 

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

-

NO

barchart-grey

Capital Employed

£7,427,700

-15.1%

£8,744,902

3.2%

£8,471,911

42%

£5,967,507

42.2%

£4,195,805

barchart-grey

Number of Employees

176

-16.2%

210

-15.7%

249

10.7%

225

58.5%

142

Accountants

Auditors

TAIT WALKER LLP

Auditor Comments

The audit report contains no adverse comments

Bankers

HSBC BANK PLC

Bank Branch Code

40-34-18

 

 

Ratios

 

Date Of Accounts

31/03/14

31/03/13

31/03/12

31/03/11

31/03/10

barchart-grey

Pre-tax profit margin %

0.59

1.43

7.39

10.11

7.26

barchart-grey

Current ratio

2.10

2.21

2.24

1.54

1.65

barchart-grey

Sales/Net Working Capital

2.79

2.65

4.35

3.90

3.89

barchart-grey

Gearing %

14.10

44.70

20.40

11.20

6.80

barchart-grey

Equity in %

51.70

48.40

49.70

32.90

39

barchart-grey

Creditor Days

30.65

22

20.18

51.81

38.31

barchart-grey

Debtor Days

115.68

98.03

64.34

126.45

99.47

barchart-grey

Liquidity/Acid Test

1.41

1.43

1.44

1.05

1.17

barchart-grey

Return On Capital Employed %

1.35

3.17

27.02

36.78

25.97

barchart-grey

Return On Total Assets Employed %

0.77

1.87

16.10

13.43

10.75

barchart-grey

Current Debt Ratio

0.82

0.84

0.81

1.93

1.51

barchart-grey

Total Debt Ratio

0.93

1.07

1.01

2.04

1.57

barchart-grey

Stock Turnover Ratio %

22.49

24.27

14.72

22.79

18.61

barchart-grey

Return on Net Assets Employed %

1.50

3.88

32.52

40.90

27.73

 

Event history

 

Date

Description

24/12/2014

New Accounts Filed

24/12/2014

New Accounts Filed

11/11/2014

Annual Returns

01/11/2013

Annual Returns

16/10/2013

New Accounts Filed

13/12/2012

Mr S. McDowell has resigned as company secretary

13/12/2012

New Company Secretary Mrs J. Athey appointed

26/11/2012

New Accounts Filed

16/10/2012

Annual Returns

16/11/2011

New Accounts Filed

12/11/2011

Annual Returns

13/01/2011

New Accounts Filed

13/01/2011

New Accounts Filed

02/11/2010

Annual Returns

27/01/2010

Annual Returns

 

 

Previous company names

 

Date

Previous Name

20/03/2003

EVER 1919 LIMITED

 

 

Writ details

 

No writs found

 

 

Summary

 

Holding Company

CRABTREE OF GATESHEAD (HOLDINGS) LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

CRABCO LIMITED

 

 

Group structure

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

tminus CRABCO LIMITED

06119559

31.03.2014

Y

£17,024,361

tminus CRABTREE OF GATESHEAD...

05555711

31.03.2014

N

L CRABTREE OF GATESHEA...

04562891

31.03.2014

N

£17,024,361

 

 

Mortgage details

 

Mortgage Type:

Date Charge Created:

23/05/14

Date Charge Registered:

30/05/14

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

LLOYDS BANK PLC;

Amount Secured:

Details:

L/H UNITS 1 AND 3 SITE NUMBERS BT1/147,186, 186X AND 229 KINGSWAY SOUTH TEAM VALLEY TRADING ESTATE GATEHEAD TYNE & WEARCONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.CONTAINS NEGATIVE PLEDGE.

Mortgage Type:

Date Charge Created:

19/03/14

Date Charge Registered:

20/03/14

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

LLOYDS BANK PLC;

Amount Secured:

Details:

CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.

 

Mortgage Type:

Date Charge Created:

19/03/14

Date Charge Registered:

20/03/14

Date Charge Satisfied:

-

Status:

OUTSTANDING

Person(s) Entitled:

LLOYDS BANK PLC;

Amount Secured:

Details:

NONECONTAINS FIXED CHARGE.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.

Mortgage Type:

CHATTEL MORTGAGE

Date Charge Created:

27/03/13

Date Charge Registered:

03/04/13

Date Charge Satisfied:

13/04/15

Status:

SATISFIED

Person(s) Entitled:

HSBC ASSET FINANCE (UK) LIMITED AND HSBC EQUIPMENT FINANCE (UK) LIMITED;

Amount Secured:

Details:

YAMAZAKI MAZAK VERTICAL CNC MACHINING CENTRE VTC800/30SR S/NO 229908, ROBBI OMICRON GE1500 T5 SERIES SEMI AUTOMATIC EXTERNAL GRINDING MACHINE S/NO 15211026, DOOSAN PUMA 480L CNC LATHE S/NO ML0147-000308 AND DOOSAN PUMA 700LY CNC LATHE S/NOP700LY-000018

 

Mortgage Type:

DEBENTURE

Date Charge Created:

19/10/11

Date Charge Registered:

24/10/11

Date Charge Satisfied:

29/05/14

Status:

SATISFIED

Person(s) Entitled:

HSBC BANK 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:

CHATTELS MORTGAGE

Date Charge Created:

12/07/04

Date Charge Registered:

13/07/04

Date Charge Satisfied:

29/06/11

Status:

SATISFIED

Person(s) Entitled:

HSBC ASSET FINANCE (UK) LIMITED & HSBC EQUIPMENT FINANCE (UK) LIMITED

Amount Secured:

Details:

ALL AND SINGULAR THE CHATTELS PLANT ANDMACHINERY OR ANY PART THEREOF DAEWOO MYNX 400 CNC VMC (AM400G) S/N AV4E0111 ANDDAEWOO MYNX 550 CNC VMC (AM500BE) S/N AV5500144

 

Mortgage Type:

CHATTELS MORTGAGE

Date Charge Created:

25/04/03

Date Charge Registered:

26/04/03

Date Charge Satisfied:

29/06/11

Status:

SATISFIED

Person(s) Entitled:

HSBC ASSET FINANCE (UK) LIMITED AND HSBC EQUIPMENT FINANCE (UK) LIMITED

Amount Secured:

Details:

(I) MAZAK SQT15 CNC LATHE AND TOOLING,S/NO 116815; (II) UNION CBFK 150 CNC M/C AND TOOLING, S/NO 11700; ALL PLANT MACHINERY AND THINGS THEREON; SEE FORM 395 FOR FURTHER DETAILSSEE THE MORTGAGE CHARGEDOCUMENT FOR FULL DETAILS

Mortgage Type:

RENT DEPOSIT DEED

Date Charge Created:

26/03/03

Date Charge Registered:

15/04/03

Date Charge Satisfied:

29/06/11

Status:

SATISFIED

Person(s) Entitled:

UK LAND ESTATES LIMITED

Amount Secured:

Details:

THE BALANCE FROM TIME TO TIME STANDINGFTO THE CREDIT OF A SEPARATE INTEREST BEARING DEPOSIT ACCOUNTWITH ALL THE ENTITLEMENTS AND INTEREST AND OTHER RIGHTS AND BENEFITS ACCRUING TO OR ARISING IN CONNECTION THEREWITHSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

 

Mortgage Type:

DEBENTURE

Date Charge Created:

18/03/03

Date Charge Registered:

29/03/03

Date Charge Satisfied:

29/06/11

Status:

SATISFIED

Person(s) Entitled:

HSBC BANK PLC

Amount Secured:

Details:

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Mortgage Type:

DEBENTURE

Date Charge Created:

18/03/03

Date Charge Registered:

22/03/03

Date Charge Satisfied:

29/06/11

Status:

SATISFIED

Person(s) Entitled:

NORTHERN VENTURE MANAGERS LIMITED

Amount Secured:

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 MACHINERYSEE THE MORTGAGECHARGE DOCUMENT FOR FULL DETAILS

 

 

Previous director / company secretaries

 

Name

Current Directorships

Previous Directorships

Timothy Roland Levett

33

41

Stephen McDowell

5

3

Michael Blackie

0

3

Stephen Chaney

0

2

EVERDIRECTOR LIMITED

89

772

SILVERSTONE RESIDENTS COMPANY

116

730

Paul John McKie

2

1

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.15

UK Pound

1

Rs.100.53

Euro

1

Rs.73.97

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

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.