MIRA INFORM REPORT

Report Date :

24.05.2012

IDENTIFICATION DETAILS

Name :	BJB LTD.

Registered Office :	Tavistock House South, Tavistock Square, London, WC1H 9LG

Country :	United Kingdom

Financials (as on) :	31.03.2011

Date of Incorporation :	14.12.1977

Com. Reg. No.:	01343956

Legal Form :	Private Parent

Line of Business :	Importers and wholesalers of precious metal and jewellery

No. of Employees :	43

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Unknown
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^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

United Kingdom

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

Company name and address

Bjb Ltd.

14 Kirby Street


London, EC1N 8DS
United Kingdom


Tel:	020 7405 4523

Employees:	43
Company Type:	Private Parent

Quoted Status:	Non-quoted Company
Incorporation Date:	14-Dec-1977
Auditor:	Rayner Essex LLP

Fiscal Year End:	31-Mar-2011
Reporting Currency:	British Pound Sterling
Annual Sales:	21.3 ¹
Net Income:	(0.2)
Total Assets:	15.2

Business Description

Importers and wholesalers of precious metal and jewellery.

Industry

Industry	Miscellaneous Capital Goods
ANZSIC 2006:	3739 - Other Goods Wholesaling Not Elsewhere Classified
NACE 2002:	5190 - Other wholesale
NAICS 2002:	423990 - Other Miscellaneous Durable Goods Merchant Wholesalers
UK SIC 2003:	5190 - Other wholesale
US SIC 1987:	5099 - Durable Goods, Not Elsewhere Classified

Key Executives

Name	Title
Fajga Berenblut	Secretary
Brian Joseph Berenblut	Director

News

Title	Date
Riding the crest of a wave on a sea of success Grimsby Evening Telegraph (UK) (938 Words)	21-May-2012
Bargain homes of all types and sizes will go under the hammer Sentinel, The (Stoke-on-Trent, UK) (434 Words)	10-May-2012
Bike parts auction after shop closure ; Stock sold from business open for nearly a century Sentinel, The (Stoke-on-Trent, UK) (434 Words)	10-May-2012
Summer camp vacation for kids Times of India (525 Words)	1-May-2012
Kalpana Square junction gives folk traffic blues New Indian Express (India) (365 Words)	20-Apr-2012

Financial Summary

FYE: 31-Mar-2011

USD (mil)

Key Figures
Current Assets	14.98
Fixed Assets	0.19
Total Liabilities	1.91
Net Worth	13.24

Key Ratios
Current Ratio	7.85
Acid Test	4.96

Key IDSM Number:

42301970

Registered No.(UK):

01343956

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6433939
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6238497

Corporate Overview

Location
14 Kirby Street
London, EC1N 8DS
London County
United Kingdom

Tel:	020 7405 4523

Suggest Company URL

Sales GBP(mil):	13.7
Assets GBP(mil):	9.5
Employees:	43
Fiscal Year End:	31-Mar-2011



Industry:	Miscellaneous Capital Goods

Registered Address:
Tavistock House South
Tavistock Square
London, WC1H 9LG
United Kingdom

Incorporation Date:	14-Dec-1977
Company Type:	Private Parent
Quoted Status:	Not Quoted
Registered No.(UK):	01343956


Director:	Brian Joseph Berenblut

Industry Codes

ANZSIC 2006 Codes:
3739	-	Other Goods Wholesaling Not Elsewhere Classified

NACE 2002 Codes:
5190	-	Other wholesale

NAICS 2002 Codes:
423990	-	Other Miscellaneous Durable Goods Merchant Wholesalers

US SIC 1987:
5099	-	Durable Goods, Not Elsewhere Classified

UK SIC 2003:
5190	-	Other wholesale

Business Description

Importers and wholesalers of precious metal and jewellery

Financial Data

Financials in:	GBP(mil)

Revenue:	13.7
Net Income:	-0.1
Assets:	9.5
Current Assets:	9.3
Fixed Assets:	0.1
Long Term Debt:	0.0
Total Liabilities:	1.2
Issued Capital:	0.0
Working Capital:	8.2
Net Worth:	8.3

Date of Financial Data:	31-Mar-2011

1 Year Growth

-19.9%

Key Corporate Relationships

Auditor:	Rayner Essex LLP

Auditor:	Rayner Essex LLP

	GBP(mil)
Audit Fees:	0.0
Non Audit Fees:	0.0
Audit Fiscal Year:	03-31-2011

Executives Report

Board of Directors

Name

Title

Function

Brian Joseph Berenblut

Director

Director/Board Member

Executives

Name

Title

Function

Fajga Berenblut

Secretary

Company Secretary

Directors and Shareholders Report

Individual Directors

Name	Status	DOB	Filed Address	Appointment Date	Resignation Date	Summary of Directorships
Brian Joseph Berenblut	Current	26 Dec 1947	16 Shirehall Gardens, London , London NW4 2QS	31 Dec 1990	NA	Current:2 Previous:5 Disqualifications:0
Fajga Berenblut	Current	09 Feb 1951	Tavistock House South, Tavistock Square, London , London WC1H 9LG	31 Dec 1990	NA	Current:2 Previous:0 Disqualifications:0

Corporate Directors

There are no corporate directors for this company.

Individual Secretaries

Name	Status	DOB	Filed Address	Appointment Date	Resignation Date	Summary of Directorships
Fajga Berenblut	Current	09 Feb 1951	Tavistock House South, Tavistock Square, London , London WC1H 9LG	31 Dec 1990	NA	Current:2 Previous:0 Disqualifications:0

Corporate Secretaries

There are no corporate secretaries for this company.

Individual Shareholders

Name	Share Details (As Reported)	Share Type	# of Shares	Share Price (GBP)	Share Value (GBP)	% of Total Shares
Brian Joseph Berenblut	1 Ordinary GBP 1.00	Ordinary	1	1.00	1.00	50.00
Fajga Berenblut	1 Ordinary GBP 1.00	Ordinary	1	1.00	1.00	50.00

Corporate Shareholders

There are no corporate shareholders for this company.

Bjb Ltd.

London, United Kingdom, Tel: 020 7405 4523

Annual Profit & Loss

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008	31-Mar-2007
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate (Period Average)	0.643394	0.627794	0.592803	0.498361	0.528925
Consolidated	No	No	No	No	No

Turnover (UK)	16.8	19.7	27.2	30.2	59.8
Turnover (Exports)	4.4	7.5	3.3	4.1	0.0
Total Turnover	21.3	27.2	30.5	34.2	59.8
Cost of Sales	16.7	21.9	25.5	29.5	51.1
Gross Profit	4.6	5.3	5.0	4.8	8.7
Depreciation	0.1	0.1	0.2	0.2	0.2
Other Expenses	4.5	4.9	4.4	4.9	6.4
Operating Profit	0.1	-	-	-0.2	-
Other Income	0.0	0.1	0.2	0.6	0.6
Interest Paid	0.0	0.0	0.2	0.2	0.4
Exceptional Income	0.0	0.0	0.0	0.0	0.0
Discontinued Operations	0.0	0.0	0.0	0.0	0.0
Profit Before Taxes	0.0	0.4	0.6	0.3	2.5
Tax Payable / Credit	0.0	0.1	0.2	0.1	1.1
Extraordinary Items/Debits	0.0	0.0	0.0	0.0	0.0
Dividends	0.3	0.2	0.0	0.9	0.4
Profit After Taxes	-0.2	0.1	0.4	-0.8	1.0
Minority Interests (Profit & Loss)	0.0	0.0	0.0	0.0	0.0
Audit Fees	0.0	0.0	0.0	0.0	0.0
Non Audit Fees	0.0	0.0	-	-	0.0
Number of Employees	43	41	41	46	47
Wages	1.8	2.2	2.4	2.7	2.7
Social Security Costs	0.2	0.2	0.2	0.3	0.3
Pensions	-	-	-	0.0	0.0
Other Pension Costs	0.0	0.0	0.0	0.0	0.0
Employees Remuneration	2.0	2.4	2.6	3.0	3.0
Directors Emoluments	-	-	-	0.1	0.1
Other Costs	-	-	-	0.0	0.0
Directors Remuneration	0.0	0.3	0.1	0.1	0.2

Annual Balance Sheet

Financials in: USD (mil)

Financial Glossary

	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008	31-Mar-2007
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate	0.62385	0.659239	0.697666	0.503145	0.509853
Consolidated	No	No	No	No	No

Land & Buildings	0.1	0.2	0.2	0.4	0.4
Fixtures & Fittings	0.1	0.0	0.0	0.2	0.3
Plant & Vehicles	0.0	0.0	0.0	0.0	0.0
Total Tangible Fixed Assets	0.2	0.2	0.2	0.6	0.8
Intangible Assets	0.0	0.0	0.0	0.0	0.0
Investments	0.0	0.0	0.0	0.0	0.0
Total Fixed Assets	0.2	0.2	0.2	0.6	0.8
Stocks	5.5	4.7	6.3	13.5	-
Work in Progress	0.0	0.0	0.0	0.0	-
Total Stocks Work In Progress	5.5	4.7	6.3	13.5	9.7
Trade Debtors	4.1	5.9	3.8	7.3	6.2
Other Debtors	3.8	3.4	3.4	4.0	2.9
Total Debtors	7.9	9.3	7.2	11.3	9.2
Cash and Equivalents	1.6	1.6	1.0	0.0	3.5
Other Current Assets	0.0	0.0	0.0	0.0	1.5
Total Current Assets	15.0	15.6	14.5	24.8	23.9
Total Assets	15.2	15.8	14.7	25.4	24.7
Trade Creditors	0.8	0.8	1.1	2.3	3.0
Bank Overdraft	-	0.0	0.0	3.4	0.0
Inter-Company Creditors	-	-	-	0.0	-
Director Loans (Current Liability)	0.0	0.5	0.6	0.1	0.1
Total Short Term Loans	-	-	-	0.3	0.2
Accruals/Deferred Income (Current Liability)	0.8	0.8	0.5	0.7	0.5
Social Security/VAT	0.1	0.4	0.1	0.1	0.1
Corporation Tax	0.0	0.1	0.2	0.1	1.1
Other Current Liabilities	0.2	0.5	0.2	0.5	1.1
Total Current Liabilities	1.9	3.0	2.7	7.5	6.1
Group Loans (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Director Loans (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Hire Purchase (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Leasing (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Total Hire Purchase Loans (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Other Long Term Loans	0.0	0.0	0.1	1.8	2.0
Accruals/Deferred Income (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Other Long Term Liabilities	0.0	0.0	0.0	0.0	0.0
Total Long Term Liabilities	0.0	0.0	0.1	1.8	2.0
Deferred Taxation	0.0	0.0	0.0	0.1	0.0
Other Provisions	0.0	0.0	0.0	0.0	0.0
Total Provisions	0.0	0.0	0.0	0.1	0.0
Issued Capital	0.0	0.0	0.0	0.0	0.0
Share Premium Accounts	0.0	0.0	0.0	0.0	0.0
Revaluation Reserve	0.0	0.0	0.0	0.0	0.0
Retained Earnings	13.2	12.7	11.9	16.0	16.6
Other Reserves	0.0	0.0	0.0	0.0	0.0
Minority Interests (Balance Sheet)	0.0	0.0	0.0	0.0	0.0
Total Shareholders Funds	13.2	12.7	11.9	16.0	16.6
Net Worth	13.2	12.7	11.9	16.0	16.6

Annual Cash Flows

Financials in: USD (mil)

Financial Glossary

	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008	31-Mar-2007
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate (Period Average)	0.643394	0.627794	0.592803	0.498361	0.528925
Consolidated	No	No	No	No	No

Net Cash Flow From Operating Activities	0.4	1.1	6.2	-6.6	9.5
Net Cash Flow from ROI and Servicing of Finance	0.0	0.0	-0.2	-0.1	-0.3
Taxation	-0.1	-0.2	-0.1	-1.1	0.0
Capital Expenditures	0.0	-0.1	0.0	0.1	-0.2
Acquisitions and Disposals	0.0	0.0	0.0	0.0	0.0
Paid Up Equity	-0.3	-0.2	0.0	-0.9	-0.4
Management of Liquid Resources	0.0	0.0	-0.1	1.6	0.0
Net Cash Flow From Financing	-0.1	-0.1	-1.6	-0.1	-3.2
Increase in Cash	-0.1	0.5	4.3	-7.3	5.5

Annual Ratios

Financials in: USD (mil)

	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008	31-Mar-2007
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate	0.62385	0.659239	0.697666	0.503145	0.509853
Consolidated	No	No	No	No	No

Current Ratio	7.85	5.16	5.42	3.32	3.91
Liquidity Ratio	4.96	3.60	3.05	1.51	2.31
Stock Turnover	3.97	5.51	4.09	2.51	6.36
Credit Period (Days)	68.71	83.59	53.64	78.78	36.68
Working Capital by Sales	59.63%	48.50%	45.64%	51.15%	28.69%
Trade Credit by Debtors	0.18	0.13	0.28	0.31	0.47
Return on Capital	0.34%	3.33%	4.21%	1.47%	13.81%
Return on Assets	0.30%	2.69%	3.44%	1.03%	10.38%
Profit Margin	0.21%	1.64%	1.95%	0.77%	4.13%
Return on Shareholders Funds	0.34%	3.34%	4.25%	1.64%	15.43%
Borrowing Ratio	0.03%	4.31%	5.76%	35.56%	13.64%
Equity Gearing	87.28%	80.69%	81.07%	63.11%	67.27%
Debt Gearing	-	-	0.72%	11.37%	11.77%
Interest Coverage	2.08	37.99	3.35	1.24	5.79
Sales by Tangible Assets	116.60	123.56	121.54	60.51	82.02
Average Remuneration per Employee	0.0	0.1	0.1	0.1	0.1
Profit per Employee	0.0	0.0	0.0	0.0	0.1
Sales per Employee	0.5	0.6	0.6	0.7	1.3
Capital Employed per Employee	0.3	0.3	0.3	0.4	0.4
Tangible Assets per Employee	0.0	0.0	0.0	0.0	0.0
Total Assets per Employee	0.4	0.4	0.4	0.6	0.5
Employee Remuneration by Sales	9.39%	8.94%	8.67%	8.83%	5.05%
Creditor Days (Cost of Sales Based)	16.04	13.60	18.01	28.80	20.37
Creditor Days (Sales Based)	12.58	10.95	15.06	24.79	17.40

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.93
UK Pound	1	Rs.88.14
Euro	1	Rs.70.87

INFORMATION DETAILS

Report Prepared by :

PDT

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.