MIRA INFORM REPORT

Report Date :

13.12.2014

IDENTIFICATION DETAILS

Name :	RANSOMES JACOBSEN LIMITED

Formerly Known As :	RANSOMES SIMS & JEFFERIES LIMITED RANSOMES LIMITED HEPWORTH ROAD DEVELOPMENTS LIMITED

Registered Office :	West Road, Ransomes Europark, Ipswich, IP3 9TT

Country :	United Kingdom

Financials (as on) :	31.12.2013

Date of Incorporation :	08.09.1972

Legal Form :	Private Limited With Share Capital

Line of Business :	· Manufacture of Other Special-Purpose Machinery. · Manufacture and Sale of Commercial Grass Care Machinery.

No of Employees :	301

RATING & COMMENTS

MIRA’s Rating :

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

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, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

United Kingdom

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. Over the past two decades, the government has greatly reduced public ownership. 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. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, 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; these included nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 largely due to the euro-zone debt crisis. 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 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of £375 billion (approximately $605 billion) as of December 2013. 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 1.4%, accelerating unexpectedly in the second half of the year because of greater consumer spending and a recovering housing market. The budget deficit is falling but remains high at nearly 7% and public debt has continued to increase.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Company Name: RANSOMES JACOBSEN LIMITED

Company No: 01070731

Company Status: Active - Accounts Filed

DIRECTORS/MANAGEMENT

Current Directors

Name	David Philip Withers	Date of Birth	15/05/1965
Officers Title	Mr	Nationality	British
Present Appointments	5	Function	Director
Appointment Date	20/01/2003
Address	36 Whiting Street, Bury St. Edmunds, Suffolk, IP33 1NP
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Alan Martin Prickett	Date of Birth	12/10/1962
Officers Title	Mr	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	29/01/2010
Address	West Road, Ransomes Europark, Ipswich, Suffolk, IP3 9TT

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Colin Piers Wolf	3	28
Alexander Douglas Cameron	1	29
John Clement	4	29
Robert Leslie Dodsworth	0	12
Colin Paul Booth	0	6
Neil Andrew McIntyre	0	2
Thomas Maxwell Millar	0	3
Peter George Wilson	7	44
Paul Robert Hollingworth	65	205
Paul Robert Hollingworth	65	205
Mark Simon Collings	0	1
Andrew Charles Scott Sunaway	0	10
Brian Eric Mitchell	0	2
Christopher John MacGowan	8	23
Eric James David McCoy	0	12
Geoffrey Stephen Comer	1	37
Geoffrey Stephen Comer	1	37
Harold Costa Pinto	0	15
Linda Ashman	0	17
Stephen Henry Chicken	6	8
Peter Richard Bell	5	12
Ian Philip Campbell	0	13
Brian William George	8	21
Brian William George	8	21
Garry John O'Neill	0	1
Caroline Olive Mary Gumble	0	2
Neil Arthur Woodfin	1	1
Glynn Patrick	0	10
EVERSECRETARY (NO 2) LIMITED	0	20
Jeremey Francis Hockham	4	46
Richard Hall-Roberts	0	21
Stephen James Mitchell	2	2

NEGATIVE INFORMATION

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 -	-

Mortgage Details

Mortgage Type:	A DEED OF ACCESSION AND SUPPLEMENTAL CHARGE IN FAVOUR OF BARCLAYS BANK PLC AS AGENT AND TRUSTEE FORITSELF AND FARMING AND AGRICULTURAL FINANCE LIMITED (AS NEWBANK) (IN ADDITION TO THE BANKS (AS DEFINED))
Date Charge Created:	17/11/94
Date Charge Registered:	01/12/94
Date Charge Satisfied:	16/03/99
Status:	SATISFIED
Person(s) Entitled:	FARMING AND AGRICULTURAL FINANCE LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND/OR ALL OR ANY OF THE OTHERCOMPANIES NAMED THEREIN 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:	GUARANTEE AND DEBENTURE
Date Charge Created:	28/02/92
Date Charge Registered:	06/03/92
Date Charge Satisfied:	16/03/99
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND/OR ALL OR ANY OF THE OTHERCOMPANIES NAMED THEREIN TO THE CHARGEE
Details:	(SEE FORM 395 REF 94 FOR FULL DETAILS) FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
RANSOMES LTD	GBP	21,500,099	ORDINARY	1	100
TEXTRON ACQUISITION LTD	GBP	1	ORDINARY	1	0

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	15 companies
Linkages	90 companies
Countries	In 7 countries

Summary

Holding Company	RANSOMES LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	TEXTRON FINANCIAL CORP RECEIVABLES TRUST

Group structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
TEXTRON FINANCIAL CORP R...		-	-
AAI CORP		-	-
ESL DEFENCE (HOLDING...	04295616	31.12.2013	N
ESL DEFENCE LIMITED	02642013	31.12.2013	N	£4,669,270
TEXTRON ATLANTIC INC		-	-	$190,000
TEXTRON ACQUISITION...	03443385	28.12.2013	N
TEXTRON LIMITED	02657253	28.12.2013	N	£2,616,000
GREENLEE COMMUNIC...	01948787	31.12.2013	N	£863,265
KLAUKE UK LTD	00996894	31.12.2013	N	£7,546,194
KAUTEX TEXTRON (U...	02237833	31.12.2013	N	£28,370,000
DONCASTER CITATION...	03334086	29.12.2012	N
RANSOMES LIMITED	00019802	31.12.2013	N	£1,000
RANSOMES PENSIONS...	00893009	31.12.2013	N
RANSOMES JACOBSEN...	01070731	31.12.2013	N	£68,047,000
RANSOMES PROPERTY...	02340826	31.12.2013	N	£97,000

FINANCIAL INFORMATION

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	(%)	N
Turnover	£68,047,000	-2.2%	£69,562,000	10.2%	£63,133,000	-5.3%	£66,700,000	25%	£53,339,000
Export	£38,020,000	-0.1%	£38,040,000	1.3%	£37,565,000	-5.1%	£39,595,000	19.7%	£33,085,000
Cost of Sales	£54,240,000	-1.8%	£55,238,000	6.6%	£51,816,000	-3.6%	£53,734,000	24.6%	£43,140,000
Gross Profit	£13,807,000	-3.6%	£14,324,000	26.6%	£11,317,000	-12.7%	£12,966,000	27.1%	£10,199,000
Wages & Salaries	£10,707,000	8.3%	£9,882,000	4%	£9,505,000	-3.4%	£9,840,000	8.1%	£9,100,000
Directors Emoluments	£304,000	-6.2%	£324,000	-34.8%	£497,000	16.7%	£426,000	-31.1%	£618,000
Operating Profit	£513,000	-43.4%	£906,000	252%	-£596,000	-130.4%	£1,961,000	589%	-£401,000
Depreciation	£660,000	1.9%	£648,000	0.6%	£644,000	-9.8%	£714,000	-8.5%	£780,000
Audit Fees	£68,000	-	£68,000	4.6%	£65,000	-20.7%	£82,000	-4.7%	£86,000
Interest Payments	£501,000	5.9%	£473,000	21.6%	£389,000	-20.9%	£492,000	-14%	£572,000
Pre Tax Profit	£1,121,000	-26.4%	£1,523,000	999.9%	-£114,000	-104.5%	£2,553,000	945.4%	-£302,000
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	£1,121,000	-26.4%	£1,523,000	999.9%	-£114,000	-104.5%	£2,553,000	945.4%	-£302,000
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	£1,121,000	-26.4%	£1,523,000	999.9%	-£114,000	-104.5%	£2,553,000	945.4%	-£302,000

Balance Sheet

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Tangible Assets	£20,021,000	-0.8%	£20,187,000	1.3%	£19,922,000	-2.3%	£20,387,000	-24.3%	£26,943,000
Intangible Assets	£489,000	-17.7%	£594,000	-15.6%	£704,000	-14%	£819,000	-20.5%	£1,030,000
Total Fixed Assets	£20,510,000	-1.3%	£20,781,000	0.8%	£20,626,000	-2.7%	£21,206,000	-24.2%	£27,973,000
Stock	£14,395,000	-6.8%	£15,448,000	18.2%	£13,068,000	2.3%	£12,771,000	27.8%	£9,996,000
Trade Debtors	£13,952,000	25.5%	£11,114,000	9.8%	£10,119,000	11.5%	£9,072,000	12.8%	£8,045,000
Cash	£178,000	-27.9%	£247,000	298.4%	£62,000	588.9%	£9,000	125%	£4,000
Other Debtors	£12,753,000	14.2%	£11,166,000	-24.9%	£14,878,000	2.1%	£14,569,000	10.1%	£13,227,000
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£41,278,000	8.7%	£37,975,000	-0.4%	£38,127,000	4.7%	£36,421,000	16.5%	£31,272,000
Trade Creditors	£3,376,000	-21.1%	£4,280,000	-3%	£4,413,000	23.8%	£3,564,000	94.6%	£1,831,000
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-100%	£62,000
Other Short Term Finance	£8,334,000	58%	£5,275,000	16.7%	£4,519,000	14.9%	£3,932,000	33.8%	£2,938,000
Miscellaneous Current Liabilities	£1,207,000	0.3%	£1,203,000	12.6%	£1,068,000	0.6%	£1,062,000	-9.8%	£1,178,000
Total Current Liabilities	£12,917,000	20.1%	£10,758,000	7.6%	£10,000,000	16.8%	£8,558,000	42.4%	£6,009,000
Bank Loans & Overdrafts and LTL	£1,713,000	-12.4%	£1,955,000	11.3%	£1,756,000	-2.3%	£1,797,000	-12.6%	£2,055,000
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£1,713,000	-12.4%	£1,955,000	11.3%	£1,756,000	-2.3%	£1,797,000	-9.8%	£1,993,000

Capital & Reserves

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Called Up Share Capital	£21,500,000	-	£21,500,000	-	£21,500,000	-	£21,500,000	-	£21,500,000
P & L Account Reserve	£25,498,000	4.6%	£24,383,000	-3.8%	£25,337,000	-1.1%	£25,612,000	-13.4%	£29,583,000
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£160,000	-	£160,000	-	£160,000	-	£160,000	-	£160,000
Shareholder Funds	£47,158,000	2.4%	£46,043,000	-2%	£46,997,000	-0.6%	£47,272,000	-7.7%	£51,243,000

Other Financial Items

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Worth	£46,669,000	2.7%	£45,449,000	-1.8%	£46,293,000	-0.3%	£46,453,000	-7.5%	£50,213,000
Working Capital	£28,361,000	4.2%	£27,217,000	-3.2%	£28,127,000	0.9%	£27,863,000	10.3%	£25,263,000
Total Assets	£61,788,000	5.2%	£58,756,000	0%	£58,753,000	2%	£57,627,000	-2.7%	£59,245,000
Total Liabilities	£14,630,000	15.1%	£12,713,000	8.1%	£11,756,000	13.5%	£10,355,000	29.4%	£8,002,000
Net Assets	£47,158,000	2.4%	£46,043,000	-2%	£46,997,000	-0.6%	£47,272,000	-7.7%	£51,243,000

Cash Flow

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

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	£48,871,000	1.8%	£47,998,000	-1.5%	£48,753,000	-0.6%	£49,069,000	-7.8%	£53,236,000
Number of Employees	301	4.5%	288	2.9%	280	-6.4%	299	4.5%	286
Auditors	ERNST & YOUNG LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	DEUTSCHE BANK AG
Bank Branch Code	49-99-80

Ratios

Wdate Of Accounts	31/12/13	31/12/12	31/12/11	31/12/10	31/12/09
Pre-tax profit margin %	1.65	2.19	-0.18	3.83	-0.57
Current ratio	3.20	3.53	3.81	4.26	5.20
Sales/Net Working Capital	2.40	2.56	2.24	2.39	2.11
Gearing %	3.60	4.20	3.70	3.80	4
Equity in %	76.90	79.20	81	83.20	88
Creditor Days	18.05	22.39	25.44	19.44	12.49
Debtor Days	74.63	58.15	58.34	49.50	54.90
Liquidity/Acid Test	2.08	2.09	2.50	2.76	3.54
Return On Capital Employed %	2.29	3.17	-0.23	5.20	-0.56
Return On Total Assets Employed %	1.81	2.59	-0.19	4.43	-0.50
Current Debt Ratio	0.27	0.23	0.21	0.18	0.11
Total Debt Ratio	0.31	0.27	0.25	0.21	0.15
Stock Turnover Ratio %	21.15	22.20	20.69	19.14	18.74
Return on Net Assets Employed %	2.37	3.30	-0.24	5.40	-0.58

Creditor Details

	Total Number	Total Value
Trade Creditors	0	-

No Creditor Data

Trade Debtors / Bad Debt Detail

	Total Number of Documented Trade	Total Value of Documented Trade
Trade Debtors	2	£27,284

Company Name	Amount	Statement Date
Gmech Ltd	£14,257	21/01/2011
Garems Limited	£13,027	05/02/2010

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Current Company Secretary

Name	EVERSECRETARY LIMITED	Date of Birth	-
Officers Title		Nationality	British
Present Appointments	683	Function	Company Secretary
Appointment Date	18/06/2004
Address	Eversheds House Eversheds House, 70 Great Bridgewater Street, Manchester, M1 5ES
Other Actions		View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
RANSOMES LTD	GBP	21,500,099	ORDINARY	1	100
TEXTRON ACQUISITION LTD	GBP	1	ORDINARY	1	0

Status History

No Status History found

Event History View Documents

Date	Description
14/11/2014	New Accounts Filed
28/05/2014	Annual Returns
02/04/2014	Mr R. Hall-Roberts has left the board
18/10/2013	New Accounts Filed
18/10/2013	New Accounts Filed
25/05/2013	Annual Returns
17/10/2012	New Board Member Mr R. Hall-Roberts appointed
09/10/2012	New Accounts Filed
09/10/2012	New Accounts Filed
16/06/2012	Annual Returns
07/01/2012	New Accounts Filed
07/01/2012	New Accounts Filed
25/05/2011	Annual Returns
03/03/2011	New Accounts Filed
03/03/2011	New Accounts Filed

Previous Company Names

Date	Previous Name
03/07/1998	RANSOMES SIMS & JEFFERIES LIMITED
14/08/1989	RANSOMES LIMITED
27/01/1988	HEPWORTH ROAD DEVELOPMENTS LIMITED

Writ Details

No writs found

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.
Sales in the latest trading period increased 10.2% on the previous trading period.
Pre-tax profits increased by 999.9% compared to the previous trading period.
The company saw an increase in their Cash Balance of 298.4% during the latest trading period.

There has been no significant change in the company's credit limit.
Net Worth decreased by 1.8% during the latest trading period.
The audit report contains no adverse comments.
The company has undergone recent changes in its directorships.
The company is part of a group.
The company was established over 42 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.44
UK Pound	1	Rs.98.15
Euro	1	Rs.77.38

INFORMATION DETAILS

Analysis Done by :	SUM

Report Prepared by :	TPT

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.

Name	Number	Latest Key Financials	Turnover
DAVID BROWN SYSTEMS UK LIMITED	SC341775	31.12.2013
DAVID BROWN GEAR SYSTEMS LIMITED	06624684	31.12.2013	£32,572,000
HYDRECO HYDRAULICS LIMITED	06624632	31.12.2013	£8,065,000
DAVID BROWN GROUP LIMITED	02432631	31.12.2013
DAVID BROWN FRANCE ENGRENAGES	397799651	31.12.2012	€10,650,498
DAVID BROWN SYSTEMS (HOLDINGS) S.À R.L.	B140252	31.12.2012
UNIPART GROUP OF COMPANIES LIMITED	01994997	31.12.2013	£924,100,000
HYDRECO HYDRAULICS NORWAY AS	920217761	31.12.2013	43,405 KNOK
TEXTRON VERWALTUNGS-GMBH	HRB 11875	31.12.2012
HYDRECO HYDRAULICS GMBH	HRB 11859	31.12.2013
HYDRECO HYDRAULICS FINLAND OY	01085181	31.12.2011	€2,113,000
KAUTEX TEXTRON JAPAN GMBH	HRB 9609	31.12.2006	€440
HYDRECO HYDRAULICS CHINA (HOLDINGS) LIMITED	07055651	31.12.2013
DAVID BROWN HYDRAULICS LIMITED	02788592	31.12.2010
DAVID BROWN UK HOLDINGS LIMITED	06677806	31.12.2013
DAVID BROWN SYSTEMS CHILE (HOLDINGS) LIMITED	07319277	31.12.2013
DAVID BROWN SYSTEMS INDIA (HOLDINGS) LIMITED	07352552	31.12.2013
DAVID BROWN SYSTEMS CHINA (HOLDINGS) LIMITED	SC343360	31.12.2013
DB UNION PENSION TRUSTEE LIMITED	SC343362	31.12.2013
HYDRECO DBH HOLDINGS LIMITED	08649612	-