MIRA INFORM REPORT

 

 

Report No. :

342361

Report Date :

25.09.2015

           

IDENTIFICATION DETAILS

 

Name :

BIOCHROM LIMITED

 

 

Formerly Known As :

INTERCEDE 1313 LIMITED

 

 

Registered Office :

East Wing, Building 1020 Cambourne Business Park Cambridge CB23 6DW

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

13.03.1998

 

 

Com. Reg. No.:

03526954

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Design, manufacture and distribution of medical, labolatory and scientific equipment.

 

 

No. of Employee :

71

 

 

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 and address

 

BIOCHROM LIMITED

 

Company No:

03526954

 

Registered Address:

EAST WING, BUILDING 1020CAMBOURNE BUSINESS PARKCAMBRIDGECB23 6DW

 

 

Company Summary

 

Registered Address

EAST WING, BUILDING 1020 CAMBOURNE BUSINESS PARK CAMBRIDGE CB23 6DW

Trading Address

 

Building 1020 East Wing Cambourne Business Park, Cambourne Cambridge, Cambridgeshire CB23 6DW

Website Address

http://www.biochrom.co.uk

 

 

Telephone Number

--

Fax Number

--

TPS

--

FPS

No

Incorporation Date

13/03/1998

 

 

Previous Name

INTERCEDE 1313 LIMITED

Type

Private limited with Share Capital

FTSE Index

--

Date of Change

26/03/1998

Filing Date of Accounts

30/09/2014

Currency

GBP

Share Capital

£100

SIC07

32990

Charity Number

--

 

 

SIC07 Description

OTHER MANUFACTURING N.E.C.

Principal Activity

The design, manufacture and distribution of medical, labolatory and scientific equipment.

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31/12/2013

£13,559,510

-£1,539,579

£12,924,524

71

31/12/2012

£15,304,691

£2,476,659

£13,956,718

76

31/12/2011

£14,852,296

£1,830,929

£12,259,101

74

 

 

Mortgage Summary

 

Total Mortgage             4

Outstanding                 1

Satisfied                       3

 

 

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 Medium company in respect of the rating/limit generated.

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 poor or negative return on assets.

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

The company has more cash than short term bank borrowings.

This company trades in an industry with a lower 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

3

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

15

 

 

Current Directors

 

Name

Jeffrey Duchemin

Date of Birth

19/10/1965

Officers Title

Mr

Nationality

American

Present Appointments

2

Function

Director

Appointment Date

20/11/2013

Address

84 October Hill Road, Holliston, Ma, 01746

 

 

Name

Robert Gagnon

Date of Birth

29/03/1974

Officers Title

Mr

Nationality

American

Present Appointments

2

Function

Director

Appointment Date

20/11/2013

Address

84 October Hill Road, Holliston, Ma, 01746

 

 

Name

Philip Joseph Eyles

Date of Birth

02/07/1972

Officers Title

Mr

Nationality

British

Present Appointments

5

Function

Director

Appointment Date

23/09/2014

Address

East Wing, Building 1020 Cambourne Business Park, Cambourne, Cambridge, CB23 6DW

 

 

Current Company Secretary

 

Name

Philip Joseph Eyles

Date of Birth

-

Officers Title

Mr

Nationality

Present Appointments

1

Function

Company Secretary

Appointment Date

20/11/2013

Address

East Wing, Building 1020 Cambourne Business Park, Cambourne, Cambridge, CB23 6DW

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

HARVARD BIOSCIENCE INC.

GBP

100

ORDINARY

1

100

 

 

Profit & Loss

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

Y

Turnover

£13,559,510

-11.4%

£15,304,691

3%

£14,852,296

-3.9%

£15,448,548

1%

£15,292,225

Export

-

-

-

-

-

-

-

-

£3,718,945

Cost of Sales

£7,963,026

-6.9%

£8,550,732

-4.1%

£8,918,799

5.5%

£8,453,884

-8.3%

£9,221,646

Gross Profit

£5,596,484

-17.1%

£6,753,959

13.8%

£5,933,497

-15.2%

£6,994,664

15.2%

£6,070,579

Wages & Salaries

£3,460,444

-0.7%

£3,485,597

1.7%

£3,427,391

-14.5%

£4,006,741

12.2%

£3,570,567

Directors Emoluments

£173,687

16.3%

£149,344

5.9%

£141,083

0.2%

£140,868

-30.4%

£202,348

Operating Profit

£906,022

-64.8%

£2,573,826

36.7%

£1,883,386

-31.3%

£2,739,707

95.6%

£1,400,760

Depreciation

£216,446

5.3%

£205,551

-19%

£253,767

-12%

£288,280

-2.3%

£295,092

Audit Fees

£83,560

9.9%

£76,000

-

£76,000

474.5%

£13,230

-26.4%

£17,980

Interest Payments

£418,308

-4.1%

£436,020

-6.4%

£466,041

3%

£452,420

249%

£129,633

Pre Tax Profit

-£1,539,579

-162.2%

£2,476,659

35.3%

£1,830,929

-25.3%

£2,452,660

156.2%

£957,506

Taxation

-£76,071

83.5%

-£459,842

-42.9%

-£321,741

67.1%

-£977,849

-397.2%

-£196,667

Profit After Tax

-£1,615,650

-180.1%

£2,016,817

33.6%

£1,509,188

2.3%

£1,474,811

93.8%

£760,839

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-£1,615,650

-180.1%

£2,016,817

33.6%

£1,509,188

2.3%

£1,474,811

93.8%

£760,839

 

 

Balance Sheet

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Tangible Assets

£4,190,438

-47.3%

£7,956,846

31%

£6,074,985

-1.7%

£6,179,767

810.3%

£678,892

Intangible Assets

£2,119,365

58.6%

£1,336,346

-20.8%

£1,687,522

-17.2%

£2,038,697

-39%

£3,342,787

Total Fixed Assets

£6,309,803

-32.1%

£9,293,192

19.7%

£7,762,507

-5.5%

£8,218,464

104.4%

£4,021,679

Stock

£2,375,756

-22%

£3,046,632

-4.2%

£3,180,478

9.9%

£2,892,772

12.9%

£2,563,345

Trade Debtors

£2,192,887

-9.7%

£2,427,564

10.3%

£2,201,534

-19.6%

£2,737,728

4%

£2,632,028

Cash

£6,390,087

40.3%

£4,556,038

27.7%

£3,568,109

24.8%

£2,859,790

2.4%

£2,792,024

Other Debtors

£1,302,728

50.9%

£863,314

-25%

£1,150,652

57.7%

£729,468

-33%

£1,088,851

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£12,261,458

12.6%

£10,893,548

7.8%

£10,100,773

9.6%

£9,219,758

1.6%

£9,076,248

Trade Creditors

£407,410

-28%

£565,522

79.3%

£315,443

-53.7%

£680,742

-9.8%

£754,429

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

£486,812

-2.7%

£500,564

-15.1%

£589,661

-35.3%

£911,455

19%

£765,967

Miscellaneous Current Liabilities

£705,667

16.1%

£608,004

3.5%

£587,405

-36.9%

£931,080

56.1%

£596,316

Total Current Liabilities

£1,599,889

-4.4%

£1,674,090

12.2%

£1,492,509

-40.9%

£2,523,277

19.2%

£2,116,712

Bank Loans & Overdrafts and LTL

£4,046,848

-11.2%

£4,555,932

10.8%

£4,111,670

18.1%

£3,481,190

9.1%

£3,191,299

Other Long Term Finance

£2,121,670

-

£2,121,670

-

£2,121,670

-

£2,121,670

32.5%

£1,601,238

Total Long Term Liabilities

£4,046,848

-11.2%

£4,555,932

10.8%

£4,111,670

18.1%

£3,481,190

9.1%

£3,191,299

 

 

Capital & Reserves

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Called Up Share Capital

£100

-

£100

-

£100

-

£100

-

£100

P & L Account Reserve

£11,364,948

-8.3%

£12,397,142

15.9%

£10,699,525

8.4%

£9,874,179

58.5%

£6,230,340

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

£1,559,476

-

£1,559,476

-

£1,559,476

-

£1,559,476

-

£1,559,476

Shareholder Funds

£12,924,524

-7.4%

£13,956,718

13.8%

£12,259,101

7.2%

£11,433,755

46.8%

£7,789,916

 

 

Other Financial Items

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Net Worth

£10,805,159

-14.4%

£12,620,372

19.4%

£10,571,579

12.5%

£9,395,058

111.3%

£4,447,129

Working Capital

£10,661,569

15.6%

£9,219,458

7.1%

£8,608,264

28.5%

£6,696,481

-3.8%

£6,959,536

Total Assets

£18,571,261

-8%

£20,186,740

13%

£17,863,280

2.4%

£17,438,222

33.1%

£13,097,927

Total Liabilities

£5,646,737

-9.4%

£6,230,022

11.2%

£5,604,179

-6.7%

£6,004,467

13.1%

£5,308,011

Net Assets

£12,924,524

-7.4%

£13,956,718

13.8%

£12,259,101

7.2%

£11,433,755

46.8%

£7,789,916

 

 

Cash Flow

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Net Cashflow from Operations

-

-

-

-

-

-

-

-

£3,101,655

Net Cashflow before Financing

-

-

-

-

-

-

-

-100%

£1,917,857

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-£689,157

Increase in Cash

-

-

-

-

-

-

-

-

£1,228,700

 

 

Miscellaneous

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£16,971,372

-8.3%

£18,512,650

13.1%

£16,370,771

9.8%

£14,914,945

35.8%

£10,981,215

Number of Employees

71

-6.6%

76

2.7%

74

-14%

86

-4.4%

90

 

Accountants

Auditors

KPMG LLP

Auditor Comments

The audit report contains no adverse comments

Bankers

BARCLAYS BANK PLC

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

31/12/13

31/12/12

31/12/11

31/12/10

31/12/09

Pre-tax profit margin %

-11.35

16.18

12.33

15.88

6.26

Current ratio

7.66

6.51

6.77

3.65

4.29

Sales/Net Working Capital

1.27

1.66

1.73

2.31

2.20

Gearing %

31.30

32.60

33.50

30.40

41

Equity in %

78.60

74

75.80

74.20

79.90

Creditor Days

10.93

13.45

7.73

16.03

17.95

Debtor Days

58.86

57.73

53.95

64.50

62.65

Liquidity/Acid Test

6.17

4.68

4.63

2.50

3.07

Return On Capital Employed %

-9.07

13.37

11.18

16.44

8.71

Return On Total Assets Employed %

-8.29

12.26

10.24

14.06

7.31

Current Debt Ratio

0.12

0.11

0.12

0.22

0.27

Total Debt Ratio

0.43

0.44

0.45

0.52

0.68

Stock Turnover Ratio %

17.52

19.90

21.41

18.72

16.76

Return on Net Assets Employed %

-11.91

17.74

14.93

21.45

12.29

 

 

Report Notes

 

There are no notes to display.

 

 

Status History

 

No Status History found

 

 

*Event History

 

Date

Description

18/09/2015

Change in Reg.Office

18/09/2015

Change of Company Postcode

11/08/2015

Payment Data Update Recieved

30/07/2015

Payment Data Update Recieved

14/07/2015

Payment Data Update Recieved

20/03/2015

Annual Returns

29/10/2014

New Board Member Mr P.J. Eyles appointed

11/10/2014

New Accounts Filed

29/09/2014

Mr H.D. Pether has left the board

24/03/2014

Annual Returns

21/03/2014

Mr S.J. Luke has left the board

24/12/2013

New Board Member Mr R. Gagnon appointed

24/12/2013

New Board Member Mr J. Duchemin appointed

22/11/2013

Mr H.D. Pether has resigned as company secretary

22/11/2013

Mr D. Green has left the board

 

 

Previous Company Names

 

Date

Previous Name

26/03/1998

INTERCEDE 1313 LIMITED

 

 

Writ Details

 

No writs found

 

 

Statistics

 

Group

7 companies

Linkages

43 companies

Countries

In 8 countries

 

 

Summary

 

Holding Company

-

Ownership Status

Wholly Owned

Ultimate Holding Company

HARVARD APPARATUS, INC

 

 

Group StructureFull

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

tminus HARVARD APPARATUS, INC

-

-

tminus BIOCHROM LIMITED

03526954

31.12.2013

N

£13,559,510

T BIODROP LTD

07985133

31.12.2014

N

T SCIE-PLAS LIMITED

02245830

31.12.2014

N

L WALDEN PRECISION APP...

00869658

31.12.2014

N

tminus HARVARD APPARATUS INC

N/A

-

-

L HARVARD APPARATUS LI...

03132740

31.12.2013

N

£3,021,319

 

 

Other Linked Companies

 

Name

Number

Latest Key Financials

Turnover

HUGO SACHS ELEKTRONIK-HARVARD APPARATUS GMBH

HRB 5867

31.12.2013

CMA MICRODIALYSIS AB

5568545221

31.12.2014

17,630 KSEK

BTX MOLECULAR DELIVERY SYSTEMS

-

$898,000

KD SCIENTIFIC, INC

-

COULBOURN INSTRUMENTS, LLC

-

BIOCHROM US, INC

-

HEKA INSTRUMENTS INC

-

HOEFER INC

-

HARVARD BIOSCIENCE, INC

-

$108,663,000

DENVILLE SCIENTIFIC, INC

-

WARNER INSTRUMENTS LLC

-

FKAUBI, INC

-

TRIANGLE BIOSYSTEMS, INC

-

AHN ACQUISITION GMBH

-

AHN BIOTECHNOLOGIE GMBH

-

ASYS HITECH GMBH

-

BIOCHROM

-

BIOCHROM US

-

BIODROP LTD.

-

CARTESIAN TECHNOLOGIES

-

 

 

Mortgage Details

 

Mortgage Type:

Date Charge Created:

09/07/14

Date Charge Registered:

11/07/14

Date Charge Satisfied:

20/08/15

Status:

SATISFIED

Person(s) Entitled:

HR TRUSTEES LIMITED;

Amount Secured:

Details:

F/H UNITS A1 A2 AND A3 FIRCROFT WAY EDENBRIDGE T/NO K542419CONTAINS FIXED CHARGE.CONTAINS NEGATIVE PLEDGE.

Mortgage Type:

DEED OF CHARGE OVER CREDIT BALANCES

Date Charge Created:

30/10/01

Date Charge Registered:

05/11/01

Date Charge Satisfied:

-

Status:

OUTSTANDING

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:

ACCOUNT NO.50323969 THE CHARGE CREATES A FIXED CHARGE OVERALL THE DEPOSIT(S) REFERRED TO IN THE SCHEDULE TO THE FORM 395 (INCLUDING ALL OR ANY PART OF THE MONEY PAYABLE PURSUANTTO SUCH DEPOSIT(S) ANDTHE DEBTS REPRESENTED THEREBY) TOGETHER WITH ALL INTEREST FROM TIME TO TIME ACCRUING THEREON IT ALSOCREATES AN ASSIGNMENT BY THE CHARGOR FOR THE PURPOSES OF AND TO GIVE EFFECTTO THE SECURITY OVER THERIGHT OF THE CHARGOR TO REQUIRE REPAYMENT OF SUCH DEPOSIT(S) AND INTEREST THEREON

 

Mortgage Type:

DEBENTURE

Date Charge Created:

02/03/99

Date Charge Registered:

06/03/99

Date Charge Satisfied:

23/12/03

Status:

SATISFIED

Person(s) Entitled:

BROWN BROTHERS HARRIMAN & CO

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 SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:

DEBENTURE

Date Charge Created:

02/03/99

Date Charge Registered:

06/03/99

Date Charge Satisfied:

23/12/03

Status:

SATISFIED

Person(s) Entitled:

HARVARD APPARATUS INC.

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER PURSUANT TO THE PROMISSORY NOTE (AS DEFINED) AND THE DEBENTURE

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 SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

William Barry Brown

0

2

Michael David Czarnobaj

0

2

Chancey Lee Graziano

2

5

Nigel Paul Turner

1

1

John Anthony House

0

1

David Michael Parr

1

5

Philip Rinaldi

0

5

David Green

3

2

James Gerard Heffernan

2

5

Barbara Reeves

27

404

MITRE SECRETARIES LIMITED

411

1077

Michael William Rich

27

282

Howard David James Pether

0

1

Howard David James Pether

0

5

Samuel James Luke

1

3

Average Invoice Value

Ł267.93

Invoices available

244

Paid

242

Outstanding

2

 

 

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

127

92

5

11

7

Outstanding

0

0

2

0

0

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.10

UK Pound

1

Rs.100.89

Euro

1

Rs.73.96

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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.