MIRA INFORM REPORT

Report Date :

20.11.2014

IDENTIFICATION DETAILS

Name :	BUHLER SORTEX LIMITED

Registered Office :	20 Atlantis Avenue, London, E16 2BF

Country :	United Kingdom

Financials (as on) :	31.12.2012

Date of Incorporation :	01.05.1947

Com. Reg. No.:	00434274

Legal Form :	Private limited with Share Capital

Line of Business :	Manufacture of Other Special-Purpose Machinery

No. of Employees	Not Available

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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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

Company Name

BUHLER SORTEX LIMITED

Company Number

00434274

Registered Address

20 ATLANTIS AVENUE
LONDON
E16 2BF

Trading Address

Sortex Ltd
20 Atlantis Avenue
London
E16 2BF

Website Address http://www.buhlergroup.com

Telephone Number 02070557777

Fax Number -

TPS No

FPS No

Incorporation Date 01/05/1947

Previous Name SORTEX LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 09/07/2007

Filing Date of Accounts 18/07/2013

Currency GBP

Share Capital £1,250,000

SIC07 28990

SIC07 Description MANUFACTURE OF OTHER SPECIAL-PURPOSE MACHINERY N.E.C.

Principal Activity The manufacture and distribution of electronic colour sorters and vision systems, and manufacture and installation of cleaning and sorting machinery, mainly for the food and agriculture industries.

Commentary

No exact match CCJs are recorded against the company.

Sales in the latest trading period decreased 3.6% on the previous trading period.

Net Worth decreased by 5.2% during the latest trading period.

A 6.7% decline in Total Assets occurred during the latest trading period.

Pre-tax profits decreased by 11.6% compared to the previous trading period.

The company saw an increase in their Cash Balance of 22.1% 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 67 years ago.

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 -	-

otal Current Directors	8
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	25

Current Directors

Name	Nigel Howard Wilson	Date of Birth	20/01/1961
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Director
Appointment Date	06/11/1998
Address	20 Atlantis Avenue, London, E16 2BF
Other Actions

Name	Charith Abeysinghe Gunawardena	Date of Birth	05/12/1961
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	25/09/2000
Address	20 Atlantis Avenue, London, E16 2BF
Other Actions

Name	Hamid Reza Kefayati	Date of Birth	06/10/1956
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	18/07/2003
Address	20 Atlantis Avenue, London, E16 2BF
Other Actions

Name	Bruno Mendler	Date of Birth	20/11/1954
Officers Title	Mr	Nationality	Swiss
Present Appointments	1	Function	Director
Appointment Date	01/01/2004
Address	Bachtelstrasse 11, Schaffhausen, 8200
Other Actions

Name	Nicholas John Wilkins	Date of Birth	15/09/1958
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	01/08/2005
Address	The Old Rectory, Church Road, Ardley, Oxfordshire, OX27 7NP
Other Actions

Name	Matthew Ian Kelly	Date of Birth	13/05/1975
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	18/04/2011
Address	20 Atlantis Avenue, London, E16 2BF
Other Actions

Name	Michal Picalek	Date of Birth	10/07/1964
Officers Title	Mr	Nationality	Swiss
Present Appointments	1	Function	Director
Appointment Date	14/01/2013
Address	20 Atlantis Avenue, London, E16 2BF
Other Actions

Name	Nigel Anthony Whittingham	Date of Birth	06/08/1959
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	01/01/2014
Address	20 Atlantis Avenue, London, E16 2BF
Other Actions

Current Company Secretary

Name	Nigel Howard Wilson	Date of Birth	20/01/1961
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Company Secretary
Appointment Date	31/03/1998
Address	20 Atlantis Avenue, London, E16 2BF

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
BUHLER UK HOLDINGS LTD	GBP	1,250,000	ORDINARY	1	100

Profit & Loss

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£71,619,562	-3.6%	£74,318,042	-12.2%	£84,610,842	33.4%	£63,405,604	37.7%	£46,057,843
Export	£70,839,114	-3%	£73,042,505	-12.9%	£83,903,401	33.8%	£62,685,328	38.3%	£45,316,800
Cost of Sales	£47,517,164	0.9%	£47,115,484	-9.3%	£51,942,686	27%	£40,914,191	24.5%	£32,863,678
Gross Profit	£24,102,398	-11.4%	£27,202,558	-16.7%	£32,668,156	45.2%	£22,491,413	70.5%	£13,194,165
Wages & Salaries	£8,729,386	-2%	£8,908,871	6.3%	£8,382,461	11.9%	£7,489,064	7.7%	£6,952,481
Directors Emoluments	£688,078	-39.9%	£1,145,667	-8.6%	£1,252,876	17.8%	£1,063,450	2.9%	£1,033,483
Operating Profit	£17,442,402	-11.7%	£19,752,187	-22%	£25,320,841	60%	£15,821,879	77.7%	£8,903,106
Depreciation	£398,146	-46.4%	£742,715	1.2%	£734,027	10.4%	£664,900	-3.6%	£690,063
Audit Fees	£47,500	-	£47,500	-2.1%	£48,500	17.4%	£41,300	8.7%	£38,000
Interest Payments	£142,096	121.5%	£64,165	999.9%	£4,712	-95.5%	£105,880	-80.5%	£542,911
Pre Tax Profit	£17,445,848	-11.6%	£19,736,004	-22%	£25,318,002	60.4%	£15,788,727	87.5%	£8,420,449
Taxation	-£4,075,749	19%	-£5,032,904	29.2%	-£7,110,284	-56.6%	-£4,540,782	-77.4%	-£2,559,017
Profit After Tax	£13,370,099	-9.1%	£14,703,100	-19.2%	£18,207,718	61.9%	£11,247,945	91.9%	£5,861,432
Dividends Payable	£15,000,000	-6.3%	£16,000,000	45.5%	£11,000,000	57.1%	£7,000,000	180%	£2,500,000
Retained Profit	-£1,629,901	-25.7%	-£1,296,900	-118%	£7,207,718	69.7%	£4,247,945	26.4%	£3,361,432

Balance Sheet

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Tangible Assets	£664,934	-8.8%	£729,209	-94.3%	£12,683,578	-2.6%	£13,018,943	-1.3%	£13,192,933
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£664,934	-8.8%	£729,209	-94.3%	£12,683,578	-2.6%	£13,018,943	-1.3%	£13,192,933
Stock	£5,838,711	-1%	£5,896,572	-12.4%	£6,733,692	22.2%	£5,509,358	6.1%	£5,194,320
Trade Debtors	£15,888,564	-14.6%	£18,603,160	13.1%	£16,445,084	18.8%	£13,836,843	467.6%	£2,437,967
Cash	£8,512,418	22.1%	£6,968,862	-52.7%	£14,741,438	47.7%	£9,982,022	-0.9%	£10,077,180
Other Debtors	£10,631,252	-13.6%	£12,309,785	114.6%	£5,736,582	-11.7%	£6,493,497	16.5%	£5,574,079
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£40,870,945	-6.6%	£43,778,379	0.3%	£43,656,796	21.9%	£35,821,720	53.8%	£23,283,546
Trade Creditors	£2,213,734	85.5%	£1,193,468	-67.3%	£3,655,085	18.9%	£3,074,965	27.3%	£2,416,330
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	£1,785,935	124.6%	£795,204	50.1%	£529,735	-50.6%	£1,072,275	30.5%	£821,911
Miscellaneous Current Liabilities	£9,133,490	-23.7%	£11,969,436	-17.2%	£14,458,670	6.5%	£13,577,943	82.7%	£7,430,413
Total Current Liabilities	£13,133,159	-5.9%	£13,958,108	-25.1%	£18,643,490	5.2%	£17,725,183	66.1%	£10,668,654
Bank Loans & Overdrafts and LTL	£2,173,198	-24.9%	£2,893,557	-65.5%	£8,385,161	-8.2%	£9,136,750	23.8%	£7,382,960
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£2,173,198	-24.9%	£2,893,557	-65.5%	£8,385,161	-8.2%	£9,136,750	23.8%	£7,382,960

Capital & Reserves

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Called Up Share Capital	£1,250,000	-	£1,250,000	-	£1,250,000	-	£1,250,000	-	£1,250,000
P & L Account Reserve	£24,979,522	-5.4%	£26,405,923	-5.9%	£28,061,723	35.4%	£20,728,730	20.7%	£17,174,865
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£26,229,522	-5.2%	£27,655,923	-5.6%	£29,311,723	33.4%	£21,978,730	19.3%	£18,424,865

Other Financial Items

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Net Worth	£26,229,522	-5.2%	£27,655,923	-5.6%	£29,311,723	33.4%	£21,978,730	19.3%	£18,424,865
Working Capital	£27,737,786	-7%	£29,820,271	19.2%	£25,013,306	38.2%	£18,096,537	43.5%	£12,614,892
Total Assets	£41,535,879	-6.7%	£44,507,588	-21%	£56,340,374	15.4%	£48,840,663	33.9%	£36,476,479
Total Liabilities	£15,306,357	-9.2%	£16,851,665	-37.7%	£27,028,651	0.6%	£26,861,933	48.8%	£18,051,614
Net Assets	£26,229,522	-5.2%	£27,655,923	-5.6%	£29,311,723	33.4%	£21,978,730	19.3%	£18,424,865

Cash Flow

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£28,402,720	-7%	£30,549,480	-19%	£37,696,884	21.2%	£31,115,480	20.6%	£25,807,825
Number of Employees	220	-0.5%	221	-1.3%	224	16.1%	193	10.9%	174
Auditors	BOURNER BULLOCK
Auditor Comments	The audit report contains no adverse comments
Bankers
Bank Branch Code

Ratios

Date Of Accounts	31/12/12	31/12/11	31/12/10	31/12/09	31/12/08
Pre-tax profit margin %	24.36	26.56	29.92	24.90	18.28
Current ratio	3.11	3.14	2.34	2.02	2.18
Sales/Net Working Capital	2.58	2.49	3.38	3.50	3.65
Gearing %	8.30	10.50	28.60	41.60	40.10
Equity in %	63.10	62.10	52	45	50.50
Creditor Days	11.25	5.84	15.72	17.65	19.09
Debtor Days	80.75	91.11	70.74	79.43	19.26
Liquidity/Acid Test	2.66	2.71	1.98	1.71	1.69
Return On Capital Employed %	61.42	64.60	67.16	50.74	32.62
Return On Total Assets Employed %	42	44.34	44.93	32.32	23.08
Current Debt Ratio	0.50	0.50	0.63	0.80	0.57
Total Debt Ratio	0.58	0.60	0.92	1.22	0.97
Stock Turnover Ratio %	8.15	7.93	7.95	8.68	11.27
Return on Net Assets Employed %	66.51	71.36	86.37	71.83	45.70

Status History

No Status History found

*Event History

Date	Description
17/05/2014	Annual Returns
07/05/2014	New Board Member Mr N. Whittingham appointed
08/11/2013	Mr G. Yates has left the board
08/08/2013	Mr C.D. Chaffers has left the board
27/07/2013	New Accounts Filed
27/07/2013	New Accounts Filed
15/05/2013	Annual Returns
25/01/2013	New Board Member Mr M. Picalek appointed
14/07/2012	New Accounts Filed
14/07/2012	New Accounts Filed
16/05/2012	Annual Returns
21/12/2011	New Board Member Mr G. Yates appointed
07/11/2011	Mr A. Hillary has left the board
20/05/2011	Annual Returns
18/05/2011	New Board Member Mr M.I. Kelly appointed

Previous Company Names

Date	Previous Name
09/07/2007	SORTEX LIMITED
31/10/1985	GUNSON'S SORTEX LIMITED

Statistics

Group	6 companies
Linkages	68 companies
Countries	In 22 countries

Summary

Holding Company	BUHLER UK HOLDINGS LIMITED
Ownership Status	Intermediately Owned
Ultimate Holding Company	BUHLER HOLDINGS AG

Exact CCJ Details

No CCJs found

Possible CCJs Details

There are no possible CCJ details

Writ Details

No writs found

Mortgage Details

Mortgage Type:	LEGAL CHARGE
Date Charge Created:	27/01/99
Date Charge Registered:	28/01/99
Date Charge Satisfied:	22/12/04
Status:	SATISFIED
Person(s) Entitled:	GENERALE BANK NV - GENERALE DE BANQUE SA
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	PROPERTY K/A PUDDING MILL LANE T/NO: EGL164713 AND ALL BUILDINGS AND FIXTURES (INCLUDING TRADE FIXTURES) FROM TIME TO TIME THEREON TOGETHER WITH ALL PLANT MACHINERY FITTINGS COMPUTERS AND OFFICE AND OTHER EQUIPMENT FROM TIME T OTIME ON THEPROPERTY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Mortgage Type:	GUARANTEE & DEBENTURE
Date Charge Created:	12/12/80
Date Charge Registered:	19/12/80
Date Charge Satisfied:	19/12/80
Status:	SATISFIED
Person(s) Entitled:	BROWN SHIPLEY & CO. LTD.
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 CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL DEBTS UNCALLED CPAITAL. TOGETHER WITH ALL BUILDINGS FIXTURES FIXED PLANT & MACHINERY

Mortgage Type:	GUARANTEE & DEBENTURE
Date Charge Created:	12/12/80
Date Charge Registered:	19/12/80
Date Charge Satisfied:	19/12/80
Status:	SATISFIED
Person(s) Entitled:	HENRY ANSBACHEN AND COMPANY 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 & FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL DEBTS UNCALLED CAPITAL. TOGETHER WITH ALL BUILDINGS FIXTURES FIXED PLANT & MACHINERY
Mortgage Type:	GUARANTEE & DEBENTURE
Date Charge Created:	12/12/80
Date Charge Registered:	19/12/80
Date Charge Satisfied:	19/12/80
Status:	SATISFIED
Person(s) Entitled:	NATIONAL WESTMINSTER 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 ON ANY ACCOUNT WHATSOEVER
Details:	FIXED & FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL DEBTS UNCALLED CAPITAL. TOGETHER WITH ALL BUILDINGS FIXTURES FIXED PLANT & MACHINERY

Mortgage Type:	GUARANTEE & DEBENTURE
Date Charge Created:	12/12/80
Date Charge Registered:	19/12/80
Date Charge Satisfied:	19/12/80
Status:	SATISFIED
Person(s) Entitled:	HAMBROS BANK LTD.
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 & FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL DEBTS UNCALLED CAPITAL. TOGETHER WITH ALL BUILDINGS FIXTURES FIXED PLANT & MACHINERY
Mortgage Type:	GUARANTEE & DEBENTURE
Date Charge Created:	12/12/80
Date Charge Registered:	19/12/80
Date Charge Satisfied:	19/12/80
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 ON ANY ACCOUNT WHATSOEVER
Details:	FIXED & FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL DEBTS UNCALLED CAPITAL. TOGETHER WITH ALL BUILDINGS FIXTURES FIXED PLANT & MACHINERY

Mortgage Type:	GUARANTEE & DEBENTURE
Date Charge Created:	12/12/80
Date Charge Registered:	19/12/80
Date Charge Satisfied:	19/12/80
Status:	SATISFIED
Person(s) Entitled:	CLYDESDALE BANK LTD.
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 & FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL DEBTS UNCALLED CAPITAL. TOGETHER WITH ALL BUILDINGS FIXTURES FIXED PLANT & MACHINERY

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	-	-
No Debtor Data

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Alan Thomas	2	9
Alan Thomas	2	9
Colin Leonard Lee	0	10
Joseph Antony Haynes	0	35
Brian John Booth	0	2
Brian John Booth	0	2
Martin Connolly Kelly	0	1
John Menzies Low	15	5
Alan Hillary	6	9
Brian Graham Cox	0	2
Bruno Giacomo Mario Kilshaw	0	3
David John Turner	1	35
Beat Haeni	0	2
Steven Simon Henning	0	1
Ronen Day	1	2
Philipp Adrian Muller	0	3
Hans-Jakob Schoch	0	1
Arthur Wettstein	0	4
David Michael Dymond	0	2
Colin David Chaffers	0	1
Mark Jason Honeywood	0	1
Craig Edward Briggs	0	2
Christopher David Gorner	0	2
Christopher David Gorner	0	2
Gary Yates	0	2

Average Invoice Value	£2091.43
Invoices available	68
Paid	64
Outstanding	4

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	13	29	18	2	2
Outstanding	1	0	0	0	3

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.83
UK Pound	1	Rs.96.56
Euro	1	Rs.77.42

INFORMATION DETAILS

Report Prepared by :

NIT

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

Name	Number	Latest Key Financials	Turnover
BÜHLER GMBH	HRB 4602	31.12.2012	€154,205,884
BÜHLER GMBH	HRB 797	31.12.2012	€153,275,000
BUHLER S.P.A.	MI282993	31.12.2012	€30,607,336
BUHLER SARL	572010296	31.12.2012	€31,175,000
BÜHLER BARTH GMBH	HRB 739837	31.12.2012	€24,977,617
BÜHLER AKTIEBOLAG	5560732181	31.12.2010	593 KSEK
RICHARD FRISSE GMBH	HRB 1394	31.12.2009	€12,935,000
BÜHLER DRUCKGIESSYSTEME GMBH	HRB 88608	31.12.2010	€19,005,000
BÜHLER GMBH	HRB 39596	31.12.2012	€28,862,000
BÜHLER PARTEC GMBH	HRB 15104	31.12.2012
BÜHLER B.V.	06068355	31.12.2013
BÜHLER DEUTSCHLAND GMBH	HRB 6353	31.12.2012
BÜHLER AG	162812	-
BUHLER	272833	31.12.2012	€64,351,306
BÜHLER + SCHERLER AG	2801	-
ASE-BÜHLER AG IN LIQUIDATION	2802	-
BÜHLER HOLDING AG	541487	-
BÜHLER MANAGEMENT AG	5630947	-
BÜHLER-IMMO BETRIEBS AG	5760846	-
BÜHLER DRUCKGUSS AG	730851	-