MIRA INFORM REPORT

Report Date :

28.02.2012

IDENTIFICATION DETAILS

Name :	AJT ENGINEERING LIMITED

Registered Office :	Craigshaw Crescent, West Tullos, Aberdeen, AB12 3TB.

Country :	United Kingdom

Financials (as on) :	31.12.2010

Date of Incorporation :	19.10.1948

Com. Reg. No.:	SC026598

Legal Form :	Private Limited Company

Line of Business :	The provision of general engineering services.

No. of Employees :	87

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	GBP 112,500
Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES:

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

United Kingdom

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company Identification Details

Subject Reported on	AJT ENGINEERING LIMITED
Registration Number	SC026598
VAT Number	GB265468626
Address	CRAIGSHAW CRESCENT, WEST TULLOS, ABERDEEN, SCOTLAND, AB12 3TB.

Creditline Recommendations

Monthly Credit Guide

GBP 112,500

Official Company Data

Legal Form	Private Limited
Registration Number	SC026598
VAT Number	GB265468626
Subject Status	Trading
Date of Incorporation	19/10/1948
Registered Office	CRAIGSHAW CRESCENT, WEST TULLOS, ABERDEEN, AB12 3TB.
History	15/03/2002 : The Registered Office address changed from CRAIGSHAW CRESCENT, WEST TULLOS, ABERDEEN, AB.
	18/11/1988 : Change of name from ABERDEEN JIG AND TOOL COMPANY LIMITED.
Date of Last Annual Return to Registry	13/04/2011
Accounts	The last filed accounts at Companies House are those to 31/12/2010
Accounting Reference Date	31/12

Operations

Activities	The provision of general engineering services.
Nace Code	2852
Premises	Leased,Offices,Factory
Staff Employed	87
Bankers	BARCLAYS BANK PLC
Address	BARCLAYS PRIVATE BANK LDN.
Sort Code	200380
Auditors	PricewaterhouseCoopers LLP
Branches	CRAIGSHAW CR, WEST TULLOS IND EST ABERDEEN, ABERDEENSHIRE, AB12 3TB.

Previous Searches

Search History Summary

Last 3 Months	Last 6 Months	Last 12 Months
1	3	12

Search History Details

The Search History Details shows details of the most recent 40 searches

Date	Description
01/02/2012	Miscellaneous
02/11/2011	Miscellaneous
17/10/2011	Miscellaneous
24/08/2011	Miscellaneous
24/08/2011	Miscellaneous
24/08/2011	Miscellaneous
27/06/2011	Miscellaneous
27/06/2011	Miscellaneous
03/06/2011	Miscellaneous
03/06/2011	Miscellaneous
20/04/2011	Miscellaneous
14/04/2011	Miscellaneous
04/02/2011	Miscellaneous

Public Record Information

Summary of CCJ's/Scottish Decrees

No CCJs/Scottish Decrees are recorded in our file.

Other Filings and Notices

Date

Source

Description

21/09/2010	Companies House Gazette	Notification of any change among the company's directors
09/03/2006	Companies House Gazette	Change among directors of a company
15/07/2004	Companies House Gazette	Change among directors of a company
30/03/2004	Companies House Gazette	Change among directors of a company
05/01/2000	Companies House Gazette	Change among directors of a company
07/01/1998	Companies House Gazette	Change among directors of a company
16/01/1997	Companies House Gazette	Change among directors of a company
29/01/1996	Companies House Gazette	Change among directors of a company
05/08/1994	Companies House Gazette	Change among directors of a company
24/05/1994	Companies House Gazette	Change among directors of a company
17/03/1994	Companies House Gazette	Change among directors of a company

Company Secretary

Secretary	JULIA ALISON MORTON
Service Address	CRAIGSHAW CRESCENT, WEST TULLOS, ABERDEEN, AB12 3TB.
Country of Origin	UNITED KINGDOM
Appointment Date	01/09/2011

Directors

Director	WILLIAM GILMOUR BOYD
Service Address	ACHANALT, 22 QUEEN'S DEN, ABERDEEN, AB15 8BW.
Country of Origin	UNITED KINGDOM
Date of Birth	28/12/1948
Appointment Date	01/01/1997
Director	KENNETH CHARLES GAULD
Service Address	43 DENVIEW ROAD, POTTERTON, ABERDEEN, ABERDEENSHIRE, AB23 8ZL.
Country of Origin	UNITED KINGDOM
Date of Birth	15/12/1954
Appointment Date	19/01/2006
Director	CHRISTOPHER JOHN AMES
Service Address	CRAIGSHAW CRESCENT, WEST TULLOS, ABERDEEN, AB12 3TB.
Country of Origin	UNITED KINGDOM
Date of Birth	09/01/1954
Appointment Date	15/09/2010
Other Directorships	ASSOCIATED FISHERIES (SCOTLAND) LIMITED, CAMELLIA PUBLIC LIMITED COMPANY, A.K.D.ENGINEERING LIMITED, ASSOCIATED COLD STORES & TRANSPORT LIMITED, GU CUTTING AND GRINDING SERVICES LIMITED, LONGBOURNE HOLDINGS LIMITED, BRITISH METAL TREATMENTS LIMITED, ABBEY METAL FINISHING COMPANY LIMITED, LAWRIE PLANTATION SERVICES LIMITED, B.T.S. CHEMICALS LIMITED, 9 CAMDEN CRESCENT (MANAGEMENT) LIMITED, DUNCAN LAWRIE HOLDINGS LIMITED, LODDON ENGINEERING LIMITED, LINTON PARK SERVICES LIMITED

Share Capital

Shares	Ordinary GBP 1.00
Issued Number	1,500,000
Principal Shareholder	1,499,999 Associated Fisheries Ltd
	1 George Stuart Grindley Brown

The above reflects the principle shareholder(s) by number of shares held, irrespective of share classification type.

Holding Company	ASSOCIATED FISHERIES LIMITED
Ultimate Parent	CAMELLIA HOLDING AG, a company incorporated in GERMANY

Financial Data– Statutory Accounts

Profit and Loss

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/12/2010	31/12/2009	31/12/2008	31/12/2007
Currency	GBP	GBP	GBP	GBP
SALES	6797	6975	7171	6750
UK sales	6648	6092	6650	6377
Export	149	883	521	373
Cost of goods sold	3394	3394	3456	3215
GROSS PROFIT	3403	3581	3715	3535
Wages and Salaries	2807	2632	2539	2412
Directors Emoluments	180	183	176	159
Auditors Fees	16	15	13	14
Trading Profit	551	813	998	1060
Depreciation	354	293	267	247
OPERATING PROFIT	197	520	731	813
Non Trading Income	1	8	35	18
Interest Payable	13	16	17	13
PRE TAX PROFIT	185	512	749	818
Taxation	44	51	220	156
PROFIT AFTER TAX	141	461	529	662
Dividends Payable	196	370	199	313
RETAINED PROFITS	(55)	91	330	349

Balance Sheet

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/12/2010	31/12/2009	31/12/2008	31/12/2007
Currency	GBP	GBP	GBP	GBP
TOTAL FIXED ASSETS	2476	2215	1888	1807
Tangible Assets	2459	2193	1882	1800
Fixed Assets	2384	2132	1882	1788
Intermediate assets	75	61		12
Intangible Assets	17	22	6	7
TOTAL CURRENT ASSETS	3150	2530	3387	2847
Trade debtors	2034	1963	2094	2094
Stocks	93	79	108	126
Other Current Assets	1023	488	1185	627
Misc Current Assets	1022	94	356	62
Cash	1	394	829	565
TOTAL ASSETS	5626	4745	5275	4654
TOTAL CURRENT LIABILITIES	2828	1858	2411	2039
Trade creditors	516	456	973	329
Short Term Loans	964	597	830	857
Bank Overdraft	392
Other Finance	35	60	88	90
Due To Group	537	537	742	767
Other Liabilities	1348	805	608	853
WORKING CAPITAL	322	672	976	808
TOTAL LONG TERM LIABS	19	54	121	203
Long Term Loans	19	54	114	203
Other Finance	19	54	114	203
Other Liabilities			7
NET ASSETS/(LIABILITIES)	2779	2833	2743	2412
SHARE CAPITAL + RESERVES	2779	2833	2743	2412
Share Cap + Sundry Res	1500	1500	1500	1500
Issued Share Capital	1500	1500	1500	1500
Profit and Loss account	1279	1333	1243	912
SHAREHOLDERS FUNDS	2779	2833	2743	2412
CAPITAL EMPLOYED	2798	2887	2864	2615

Financial Comparison

The following figures are shown in units of 1000

Number of Weeks	52	52	52	52
Accounts Date	31/12/2010	31/12/2009	31/12/2008	31/12/2007
Currency	GBP	GBP	GBP	GBP
Net Cashflow from Oper.	190	716	865	773
Increase in Cash	(786)	(435)	264	268
Directors Remuneration	180	183	176	159
Auditors Remuneration	16	15	13	14
Liquid Assets	2035	2357	2923	2659
Net Working Capital	322	672	976	808
Long Term Debt(>12 Months)	19	54	114	203
Other Deferred Liabs			7
Tangible Net Worth(T.N.W)	2762	2811	2737	2405
Equity	2779	2833	2743	2412
Number of Years Trading	62	61	60	59
Number of Employees	87	82	80	77
Profit per Employee	2126.4	6243.9	9362.5	10623.4
Sales per Employee	78126.4	85061	89637.5	87662.3

Key Credit Ratios

The following figures are shown as Ratios or Percentages

Accounts Date	31/12/2010	31/12/2009	31/12/2008	31/12/2007
Current Ratio	1.1	1.4	1.4	1.4
Long Term Debt/T.N.W				0.1
Pre Tax Profit Margin%	2.7	7.3	10.4	12.1
Gross Profit%	50.1	51.3	51.8	52.4
Debtors Days (D.S.O)	109	103	107	113
Creditors Days (D.P.O)	28	24	50	18
Quick Ratio	1.1	1.3	1.4	1.3
W.I.P/Inventory Days	10	8.5	11.4	14.3
Return on Investment%	5.3	15.2	20.7	23.9
Return on Assets%	3.3	10.8	14.2	17.6
T.N.W/Total Assets%	49.1	59.2	51.9	51.7
Return on Capital%	6.6	17.7	26.2	31.3
Rtn on Shareholders Funds%	6.7	18.1	27.3	33.9
Working Capital/Sales%	4.7	9.6	13.6	12
Borrowing Ratio%	35.6	23.2	34.5	44.1
Equity Gearing%	97.6	148.2	108.3	107.6
Stock Turnover	73.1	88.3	66.4	53.6
Days Purchases Outstanding	55.5	49	102.8	37.4
Sales/Fixed Assets	2.9	3.3	3.8	3.8
Debt Gearing	0.7	1.9	4.2	8.4

Key Industry Sector Trends

Year	2011	2010	2009	2008
Sample Size	3217	5909	6106	6587
Pre-Tax Profit Margin	14.3	9.4	12.2	17.7
Current Ratio	1.6	1.7	1.7	1.6
Borrowing Ratio	54.3	40.6	50.8	63.9
Return on Capital	42.1	41.1	50.1	67.6
Creditors Days	45	53	51	43

Above figures relate to companies in 2003 Standard Industry Classification (Nace) sector : Treatment and coating of metals; general mechanical engineering

Financial Summary

Auditors Qualification

The Auditors have expressed a clean opinion (i.e. unqualified with no referrals) on the accounts for the period ended 31/12/2010.

Turnover

Turnover decreased by 3 % in the year.

Operating Profit

Totalled GBP 197,000. In the year prior a Profit of GBP 520,000 was achieved.

Pre Tax Profit

The subject's profit decreased by 63 % over the previous year.

Working Capital

The company's working capital, while remaining positive, decreased by 52 % in the period.

Net Worth

Net worth reduced by GBP 54,000 during the period and now stands at GBP 2,779,000.

Fixed Assets

The subject's fixed assets increased during the year by GBP 261,000 to GBP 2,476,000 and are now 44 % of total assets compared with 46 % in the previous year.

Long Term Liabilities

The company's long term liabilities reduced during the period by 64 % and are now 1 % of net worth compared with 2 % in the previous period.

Long Term Liabilities

Long term liabilities are 1 % of capital employed, a decrease of 1 % over the previous period.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.05
UK Pound	1	Rs.77.78
Euro	1	Rs.65.89

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.