MIRA INFORM REPORT

Report Date :

20.09.2014

IDENTIFICATION DETAILS

Name :	AIR PRODUCTS PUBLIC LIMITED

Registered Office :	Harsham Place Technology Park, Molesey Road, Walton on Thames, KT12 4RZ

Country :	United Kingdom

Financials (as on) :	30.09.2013

Date of Incorporation :	05.07.1909

Legal Form :	Public Limited With Share Capital

Line of Business :	· Manufacture of industrial gases · The manufacture and sale of industrial gases and related products for their production and use.

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

REGISTERED NAME & COMPANY SUMMARY

AIR PRODUCTS PUBLIC LIMITED

DIRECTORS/MANAGEMENT

Current Directors

Name	William Hollin Dayrell Morrison-Bell	Date of Birth	21/06/1956
Officers Title	Sir	Nationality	British
Present Appointments	33	Function	Director
Appointment Date	12/04/2011
Address	Hersham Place Technology Park, Molesey Road, Walton On Thames, Surrey, KT12 4RZ
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Caroline Mary Lloyd	Date of Birth	10/10/1961
Officers Title	Mrs	Nationality	British
Present Appointments	23	Function	Director
Appointment Date	19/03/2012
Address	Hersham Place Technology Park, Molesey Road, Walton On Thames, Surrey, KT12 4RZ
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Patrick Moore Neligan	Date of Birth	26/06/1963
Officers Title	Mr	Nationality	British
Present Appointments	7	Function	Director
Appointment Date	13/03/2007
Address	Hersham Place Technology Park, Molesey Road, Walton On Thames, Surrey, KT12 4RZ
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	David Leney	Date of Birth	16/02/1967
Officers Title	Mr	Nationality	British
Present Appointments	9	Function	Director
Appointment Date	09/04/2014
Address	Hersham Place Technology Park, Molesey Road, Walton On Thames, Surrey, KT12 4RZ
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Mark Jamie Sambrook	Date of Birth	19/10/1971
Officers Title	Mr	Nationality	British
Present Appointments	5	Function	Director
Appointment Date	19/03/2012
Address	Hersham Place Technology Park, Molesey Road, Walton On Thames, Surrey, KT12 4RZ
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Elizabeth Jane Pescod	Date of Birth	10/02/1957
Officers Title	Mrs	Nationality	British
Present Appointments	8	Function	Director
Appointment Date	19/03/2012
Address	Hersham Place Technology Park, Molesey Road, Walton On Thames, Surrey, KT12 4RZ
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Terrence Gordon Hammons, Jr	Date of Birth	03/02/1973
Officers Title	Mr	Nationality	American
Present Appointments	3	Function	Director
Appointment Date	19/12/2012
Address	C/o Air Products Plc Hersham Place Technology Park, Molesey Road, Walton On Thames, Surrey, KT12 4RZ
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	William Hollin Dayrell Morrison-Bell	Date of Birth	21/06/1956
Officers Title	Sir	Nationality	British
Present Appointments	33	Function	Company Secretary
Appointment Date	18/03/2008
Address	Hersham Place Technology Park, Molesey Road, Walton On Thames, Surrey, KT12 4RZ

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Diane Lorraine Sheridan	1	13
John Francis Tufnell	8	39
John Francis Tufnell	8	39
Raymond John Dickins	0	2
Christopher John Ryan	0	4
John Brettell Shepherd	0	3
Stanley Alfred Thomas	0	1
Geoffrey Charles Procter	1	4
Graham Geoffrey Scott Cattell	0	1
Geoffrey Peter Wyatt	0	5
John Leslie Sparks	0	4
Michael Peter Parsell	0	2
Peter William Ramsay	0	3
Caroline Mary Lloyd	23	56
Brian Frederick Street	1	4
Graham Michael Rhodes	4	4
Carlos Alberto Almeida	0	3
Mark David Begg	0	2
Richard Brian Smith	0	2
John David Stanley	0	23
Laure Veronique Valerie Roberts	0	2
John Anthony Miller	0	3

NEGATIVE INFORMATION

Mortgage Summary

Total Mortgage 1

Outstanding 1

Satisfied 0

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 285

Total Value of Documented Trade £276,119

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 -	2	Total Value of Satisfied CCJs -	£885
Total Number of Writs -	-

Exact CCJ Details

Date	Court	Amount	Status	Case Number	Date Paid
23/09/2011	NORTHAMPTON CCBC	£713	Satisfied	1XI81449	01/11/2011
25/07/2011	NORTHAMPTON CCBC	£172	Satisfied	1XZ59875	09/11/2011

Possible CCJs Details

There are no possible CCJ details.

Writ Details

No writs found.

Mortgage Details

Mortgage Type:	LEGAL CHARGE
Date Charge Created:	03/11/06
Date Charge Registered:	11/11/06
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BMBF (NO 9) LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE
Details:	F/H LAND AND BUILDINGS ON THE NORTH SIDE OF BASIL HILL ROAD APPLEFORD SOUTHMEADINDUSTRIAL PARK DIDCOT OXFORDSHIRE T/NOON116968

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
AIR PRODUCTS GROUP LTD	GBP	247,957,288	ORDINARY	1	100
W. MORRISON-BELL	GBP	2	ORDINARY	1	0

PAYMENT INFORMATION

Average Invoice Value	£483.92
Invoices available	538
Paid	504
Outstanding	34

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	215	224	25	17	23
Outstanding	3	0	0	1	30

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	15 companies
Linkages	540 companies
Countries	In 47 countries

Summary

Holding Company	AIR PRODUCTS GROUP LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	AIR PRODUCTS AND CHEMICALS, INC

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
AIR PRODUCTS AND CHEMICA...		-	-	$9,612,000,000
DA NANOMATERIALS LLC		-	-	$560,000
AIR PRODUCTS ELECTRO...	04078797	30.09.2013	N	£8,884,000
PRODAIR CORP	N/A	-	-
AIR PRODUCTS GROUP L...	03101747	30.09.2013	Y	£518,190,000
AIR PRODUCTS YANBU...	03693869	30.09.2013	N	£302,025
AIR PRODUCTS (BR)...	02532156	30.09.2013	N	£94,608,000
AIR PRODUCTS (CHE...	03464489	30.09.2013	N
AIR PRODUCTS IREL...	IE078992	30.09.2013	N	€40,308,000
CRYOSERVICE LIMITED	00976552	30.09.2013	N	£33,941,000
EUROGAS CALIBRA...	06655178	30.09.2012	N
AIR PRODUCTS (CHEM...	00092092	30.09.2013	N	£95,223,000
AIR PRODUCTS PUBLI...	00103881	30.09.2013	N	£316,131,000
AIR PRODUCTS RENE...	08443239	-	N
AIR PRODUCTS (UK)...	01575433	30.09.2012	N

FINANCIAL INFORMATION

Profit & Loss

Date Of Accounts	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10	(%)	30/09/09
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£316,131,000	-3%	£325,958,000	-11.7%	£369,145,000	2.5%	£360,130,000	-14.6%	£421,705,000
Export	-	-	-	-	-	-	-	-	£421,705,000
Cost of Sales	£196,535,000	-5.1%	£207,031,000	0.8%	£205,315,000	-4.5%	£215,061,000	-34.4%	£327,921,000
Gross Profit	£119,596,000	0.6%	£118,927,000	-27.4%	£163,830,000	12.9%	£145,069,000	54.7%	£93,784,000
Wages & Salaries	£91,834,000	2%	£90,019,000	-0.9%	£90,813,000	-3.9%	£94,450,000	-29.7%	£134,328,000
Directors Emoluments	£1,150,000	21.8%	£944,000	36.6%	£691,000	162.7%	£263,000	-6.4%	£281,000
Operating Profit	£41,880,000	22.6%	£34,160,000	-49.2%	£67,200,000	25.8%	£53,408,000	953.4%	-£6,258,000
Depreciation	£16,808,000	-47.9%	£32,257,000	83.9%	£17,536,000	-12.9%	£20,130,000	-27.5%	£27,781,000
Audit Fees	£93,000	-13.9%	£108,000	1.9%	£106,000	2.9%	£103,000	-47.2%	£195,000
Interest Payments	£28,048,000	-2.4%	£28,746,000	-4.5%	£30,100,000	1.1%	£29,776,000	999.9%	£951,000
Pre Tax Profit	£57,693,000	13.1%	£51,008,000	-31.3%	£74,210,000	32.4%	£56,052,000	999.9%	-£4,842,000
Taxation	-£13,324,000	-31.9%	-£10,102,000	50.5%	-£20,402,000	-35.3%	-£15,079,000	-598.5%	£3,025,000
Profit After Tax	£44,369,000	8.5%	£40,906,000	-24%	£53,808,000	31.3%	£40,973,000	999.9%	-£1,817,000
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	£44,369,000	8.5%	£40,906,000	-24%	£53,808,000	31.3%	£40,973,000	999.9%	-£1,817,000

Balance Sheet

Date Of Accounts	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10	(%)	30/09/09
Tangible Assets	£292,411,000	11.7%	£261,790,000	13.8%	£230,064,000	-16.8%	£276,456,000	9.2%	£253,116,000
Intangible Assets	£722,000	-8.8%	£792,000	-	0	-	0	-	0
Total Fixed Assets	£293,133,000	11.6%	£262,582,000	14.1%	£230,064,000	-16.8%	£276,456,000	9.2%	£253,116,000
Stock	£52,237,000	31.8%	£39,634,000	-20.2%	£49,643,000	23.5%	£40,186,000	-18.5%	£49,333,000
Trade Debtors	£39,819,000	-26.1%	£53,896,000	9.4%	£49,270,000	-8%	£53,565,000	7.7%	£49,736,000
Cash	£48,000	500%	£8,000	-92.3%	£104,000	999.9%	£2,000	-99.8%	£1,304,000
Other Debtors	£181,523,000	-4.7%	£190,509,000	9.5%	£173,948,000	10.7%	£157,086,000	-24.1%	£206,939,000
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£273,627,000	-3.7%	£284,047,000	4.1%	£272,965,000	8.8%	£250,839,000	-18.4%	£307,312,000
Trade Creditors	£19,077,000	118.5%	£8,732,000	-2.5%	£8,955,000	-2.6%	£9,194,000	28.2%	£7,169,000
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-100%	£4,914,000
Other Short Term Finance	£33,805,000	-2.2%	£34,581,000	13.9%	£30,370,000	-58.4%	£73,061,000	-21.8%	£93,416,000
Miscellaneous Current Liabilities	£39,986,000	-15.6%	£47,393,000	9.5%	£43,284,000	-12.4%	£49,430,000	-12.4%	£56,425,000
Total Current Liabilities	£92,868,000	2.4%	£90,706,000	9.8%	£82,609,000	-37.3%	£131,685,000	-18.7%	£161,924,000
Bank Loans & Overdrafts and LTL	£62,549,000	-46.2%	£116,203,000	-2.6%	£119,299,000	-36.7%	£188,337,000	-9.6%	£208,291,000
Other Long Term Finance	£82,000	-99.9%	£87,442,000	0%	£87,472,000	0.2%	£87,308,000	-0.2%	£87,484,000
Total Long Term Liabilities	£62,549,000	-46.2%	£116,203,000	-2.6%	£119,299,000	-36.7%	£188,337,000	-7.4%	£203,377,000

Capital & Reserves

Date Of Accounts	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10	(%)	30/09/09
Called Up Share Capital	£247,957,000	61.9%	£153,157,000	-	£153,157,000	-	£153,157,000	-	£153,157,000
P & L Account Reserve	£152,386,000	-5.7%	£161,563,000	18%	£136,964,000	153.1%	£54,116,000	28.9%	£41,970,000
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£11,000,000	-56%	£25,000,000	127.3%	£11,000,000	-	-	-	-
Shareholder Funds	£411,343,000	21.1%	£339,720,000	12.8%	£301,121,000	45.3%	£207,273,000	6.2%	£195,127,000

Other Financial Items

Date Of Accounts	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10	(%)	30/09/09
Net Worth	£410,621,000	21.2%	£338,928,000	12.6%	£301,121,000	45.3%	£207,273,000	6.2%	£195,127,000
Working Capital	£180,759,000	-6.5%	£193,341,000	1.6%	£190,356,000	59.8%	£119,154,000	-18%	£145,388,000
Total Assets	£566,760,000	3.7%	£546,629,000	8.7%	£503,029,000	-4.6%	£527,295,000	-5.9%	£560,428,000
Total Liabilities	£155,417,000	-24.9%	£206,909,000	2.5%	£201,908,000	-36.9%	£320,022,000	-12.4%	£365,301,000
Net Assets	£411,343,000	21.1%	£339,720,000	12.8%	£301,121,000	45.3%	£207,273,000	6.2%	£195,127,000

Cash Flow

Date Of Accounts	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10	(%)	30/09/09
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	30/09/13	(%)	30/09/12	(%)	30/09/11	(%)	30/09/10	(%)	30/09/09
Contingent Liability	YES	-	YES	-	YES	-	NO	-	NO
Capital Employed	£473,892,000	3.9%	£455,923,000	8.4%	£420,420,000	6.3%	£395,610,000	-0.7%	£398,504,000
Number of Employees	1437	-4.1%	1499	-0.5%	1506	-7%	1619	-18.4%	1985
Auditors	KPMG LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	BARCLAYS BANK PLC
Bank Branch Code

Ratios

Date Of Accounts	30/09/13	30/09/12	30/09/11	30/09/10	30/09/09
Pre-tax profit margin %	18.25	15.65	20.10	15.56	-1.15
Current ratio	2.95	3.13	3.30	1.90	1.90
Sales/Net Working Capital	1.75	1.69	1.94	3.02	2.90
Gearing %	15.20	34.20	39.60	90.90	106.70
Equity in %	72.70	62.20	59.90	39.30	34.80
Creditor Days	21.96	9.75	8.83	9.29	6.18
Debtor Days	45.84	60.18	48.58	54.14	42.93
Liquidity/Acid Test	2.38	2.69	2.70	1.59	1.59
Return On Capital Employed %	12.17	11.18	17.65	14.16	-1.21
Return On Total Assets Employed %	10.17	9.33	14.75	10.63	-0.86
Current Debt Ratio	0.22	0.26	0.27	0.63	0.82
Total Debt Ratio	0.37	0.60	0.67	1.54	1.87
Stock Turnover Ratio %	16.52	12.15	13.44	11.15	11.69
Return on Net Assets Employed %	14.02	15.01	24.64	27.04	-2.48

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	285	£276,119

Company Name	Amount	Statement Date
Archimica Chemicals Limited	£26,757	31/07/2013
S G Party Supplies (Wholesale) Limited	£9,921	06/11/2012
Aztech B A Limited	£9,523	31/08/2011
Thermex (M & E) Limited	£8,500	01/03/2012
Laser Power Limited	£8,017	03/12/2009
Thermo Cool UK Limited	£6,278	11/12/2013
Ryeford Industries Ltd	£6,077	12/02/2013
Vial Manufacturing UK Limited	£5,969	29/03/2012
A W B Fabrications Ltd	£5,592	27/03/2013
Lakeside Glass Limited	£5,523	28/10/2011
Kington Process Ltd	£5,201	09/10/2012
Pleatward Engineering Limited	£5,147	28/06/2011
Halliwell Industrial & Marine Silencers Limited	£4,533	07/03/2014
Aardvark T M C Ltd	£4,500	15/05/2013
Veeanco Limited	£3,882	13/04/2011
B K Engineering Ltd	£3,878	10/11/2011
L & R Fabrication Ltd	£3,560	29/05/2014
Forest Fabrications And Trailers Ltd	£3,326	01/11/2011
Systems Glass Limited	£3,200	24/07/2014
Rolph Contractors Limited	£3,000	02/03/2011
Just For Fun (UK) Ltd	£2,770	07/03/2012
J J B Fabrications Limited	£2,721	09/06/2010
The Champ Chicken Company Ltd	£2,694	14/02/2012
Brown Fabrications Ltd	£2,256	08/03/2011
Atmos (1998) Ltd	£2,228	24/09/2012
Alan Dick UK Limited	£2,085	18/04/2013
Hagley Engineering Limited	£2,077	23/01/2012
New County Fabrication Ltd	£2,012	01/02/2013
Amery Services Ltd	£1,993	01/12/2011
Garston Welding Co Ltd	£1,739	24/04/2013
M & D Boat Building & Engineering Limited	£1,700	26/10/2011
Hallcalm UK Limited	£1,694	28/04/2010
Stead And Smith Engineering Limited	£1,652	19/03/2014
P C Engineering Services (M C R) Limited	£1,644	15/03/2012
M12 Engineering Limited	£1,565	31/01/2013
G M Structures Limited	£1,523	04/07/2013
Cumbria Steel Structures Limited	£1,510	06/09/2013
Albert E Cross Supplies Limited	£1,506	25/02/2013
R S L (South West) Ltd	£1,441	06/04/2011
Aerospace Technical Limited	£1,437	17/08/2012
H Y Process Engineering And Fabrication Limited	£1,426	28/04/2011
J Young Scientific Glassware Limited	£1,393	22/02/2010
Midland Steel Processing Ltd	£1,344	05/04/2011
Shaw Skips Limited	£1,319	08/11/2011
South Fabrications Ltd	£1,289	08/01/2013
Clough Smith Rail Limited	£1,278	05/09/2011
Terling Woodworks Limited	£1,255	09/08/2012
Gilp Head Inn Llp	£1,241	17/01/2012
Oval Stainless Limited	£1,239	18/02/2014
Cash Fabrications & Erection Services Ltd	£1,209	21/09/2011
Surecast Alloys Ltd	£1,194	27/06/2012
Puraform Management Services Ltd	£1,134	29/06/2011
Kaye Presteigne Ltd	£1,107	16/05/2011
North View Engineering Group Limited	£1,106	12/04/2013
Zonner Industries Ltd	£1,094	05/09/2011
Tameside Punch & Laser Services Limited	£1,091	08/07/2011
M S W Collections Ltd	£1,082	13/11/2012
Narrowboats Of Staffordshire Ltd	£1,082	28/11/2012
Welded Fabrications Ltd	£1,069	11/04/2014
Brookside Engineering (Stone) Ltd	£1,068	16/03/2012
Constables Ltd	£1,063	12/07/2013
Trent Sheetmetal Fabrications Limited	£1,056	04/01/2013
J D A Steel Construction & Design Services Ltd	£1,029	22/03/2013
Compton Steel Products Limited	£1,010	05/03/2013
Jennings Winch & Foundry Company Ltd	£1,007	13/01/2014
Kemco Environmental Solutions Ltd	£1,000	09/11/2011
E And A Fabrications Limited	£997	12/11/2013
P J Kingwell And Sons Ltd	£965	14/04/2011
A M C Projects Ltd	£956	29/10/2013
A 10 Engineering Limited	£954	13/04/2011
A & D Formers Limited	£916	09/09/2013
Daniels Engineering & Fabrication Ltd	£900	03/07/2012
Qualfab Structural Steel Ltd	£882	07/09/2011
L V H Haulage Ltd	£873	12/02/2014
Bedford Training Group Ltd	£864	21/01/2014
Fabrenco Limited	£860	25/02/2011
Hedley Engineering Services Limited	£858	29/06/2012
R D Projex Ltd	£847	13/12/2011
Marston Sheet Metal Ltd	£840	20/09/2011
J P G Industrial Engineering Services Limited	£824	08/04/2010
Gravitron Design Limited	£807	09/08/2012
Lamb Hill Garage Limited	£803	22/06/2011
Witham Contract Manufacturing Ltd	£782	01/08/2012
Sagar Marine Ltd	£753	07/12/2011
Amtin Ltd	£732	03/10/2012
Van Spall Associates (C H P) Ltd	£713	29/04/2013
Bromsgrove Steel Erection Services Ltd	£702	22/02/2011
R & G Engineering Limited	£702	07/12/2012
R & G Engineering Limited	£702	07/12/2012
Vanguard Paintball Limited	£697	11/07/2012
Wessex Trailers Limited	£691	16/09/2010
Air Environmental Technology Ltd	£689	29/09/2011
Lee Brothers Earthmovers Limited	£667	14/10/2009
Peterlee Motor Body Repair Centre Ltd	£664	22/12/2011
Ryan Garage Services Ltd	£639	28/05/2014
Manchester Tippers And Aggregates Limited	£634	11/02/2010
P L Manufacturing Limited	£603	14/06/2011
M K Piling (Northwest) Limited	£603	27/09/2012
A S Fabrications (UK) Limited	£590	25/06/2013
Saracen UK Limited	£590	31/05/2012
Easy Care Products Limited	£586	31/07/2013
Rushall Tool And Engineering Ltd	£579	30/03/2012
Lowes Manufacturing Ltd	£574	06/08/2012
Race Industrial Services Limited	£559	17/06/2011
A Hodgson Engineers & Smiths Ltd	£555	12/01/2012
Host Restaurants & Bars Limited	£548	06/02/2012
London Group Limited	£544	01/05/2012
C A D Shelters Ltd	£526	22/02/2012
Thermal Engineering Systems Ltd	£507	16/10/2012
International Power Generation Ltd	£502	01/11/2012
Steven Charles Snooker Limited	£500	11/10/2012
Weldtech (Southern) Ltd	£499	20/05/2013
J B I Technology Ltd	£497	08/04/2011
Crown Industrial UK Limited	£492	30/11/2011
Waverley Water Limited	£476	17/02/2011
X Z C Ltd	£474	14/05/2012
D & M Fancutt Ltd	£471	25/10/2012
Budget Rent-A-Skip Ltd	£450	31/05/2012
Strongarm Engineering Recovery Limited	£450	26/03/2012
Direct Plant Services Limited	£448	01/05/2013
Clearaway Bradford Limited	£448	06/06/2013
Disability Employment Ltd	£443	03/09/2013
Ferndean Fabrications Limited	£442	30/03/2011
Skillforce Limited	£438	28/01/2014
Refrigeration Services Northern Limited	£438	06/01/2012
A B Technical Solutions Limited	£431	23/08/2011
C B M Plumbing & Heating Ltd	£428	19/06/2014
Amberhill Ltd	£420	07/08/2012
Plaztek Ltd	£418	25/04/2013
Predominant Engineers Ltd	£418	31/03/2011
Bingham Enterprises Ltd	£415	10/04/2014
Elephant & Castle Limited	£406	09/01/2012
F D S Pipework Services Limited	£405	01/02/2013
Gunner Engineering Ltd	£400	10/05/2012
Stag Commercial Body Manufacturers (Stoke On Trent) Limited	£398	25/03/2010
Extrudawood Limited	£396	21/06/2011
Steel Frame Structures Limited	£380	05/09/2013
J A Structural Services Limited	£373	28/03/2011
Talbott's Biomass Generators Ltd	£373	18/06/2012
Hookways Limited	£371	23/08/2011
J R Selby (Engineering) Ltd	£370	24/10/2011
Portland Commercial Bodies Limited	£367	24/01/2012
Crescent Farm Fresh Poultry Ltd	£366	01/07/2011
Frank Manning (Engineers) Limited	£357	25/10/2011
Latches Limited	£355	12/05/2011
Mchugh Demolition Limited	£354	16/08/2013
J S J Solutions Limited	£350	03/02/2012
O'donnell Site Services Limited	£346	18/11/2011
Devon & Cornwall Metal Fabrication Limited	£334	05/06/2013
Tube Science Ltd	£333	15/11/2013
Willard Handling Systems Limited	£332	07/09/2011
Homedean Ltd	£332	09/11/2012
Arc Services Ltd	£330	07/07/2011
Pipetech Design And Construction Limited	£327	19/02/2014
D.Sign Technology Ltd	£327	06/08/2012
Highdown Coachworks Limited	£326	24/03/2011
S & G Engineering NE Limited	£324	27/03/2012
Miles Waterscapes Ltd	£321	21/05/2013
Warmglade Limited	£321	13/02/2014
Eurojet Engineering Ltd	£311	04/03/2014
Own Label Products Limited	£308	19/02/2010
New Industries Aviation Limited	£306	23/06/2011
C W Fabrications Limited	£304	03/07/2013
C I M A Ltd	£304	22/11/2013
D A Engineering Limited	£301	19/03/2014
A W C S (Launceston) Ltd	£298	28/06/2012
Refurb Assist Ltd	£293	05/02/2013
Lloyd Forshaw Engineering Limited	£293	02/07/2013
Tubeformers Ltd	£290	15/01/2013
Fulwood Service Limited	£289	21/02/2012
D A B Engineering Co Limited	£286	18/12/2013
Williams Commercial Bodies Limited	£284	14/09/2011
Bu Val Buses Limited	£284	14/06/2011
Atlas Vehicle Conversions Ltd	£281	31/07/2013
Simply Fitness Ltd	£278	30/01/2012
P & R Coachworks Limited	£278	11/03/2013
C.W. (Industrial) Fans Ltd	£273	26/10/2012
Power Technology Services Limited	£272	13/01/2012
Corsair Manufacturing Limited	£271	27/05/2010
Austin Design & Manufacture Limited	£269	21/11/2011
M H Metalwork Ltd	£268	21/04/2011
Mac's Meat Market Ltd	£264	16/02/2011
U K Safes Limited	£264	21/06/2012
Airport Body Shop Limited	£261	12/12/2013
Alljays Limited	£256	25/03/2011
Stan Stock (Chorley) Limited	£253	06/03/2014
Emperor Management Limited	£250	30/07/2013
Royden Structures Limited	£247	05/04/2012
Davis Sheetmetal Limited	£247	15/11/2010
G B H Industrial Ltd	£242	29/06/2011
Redbridge Recycling (Essex) Limited	£241	17/10/2012
Wilson Trailers Limited	£239	13/11/2012
Farnell Photographic Laboratory Ltd	£238	14/03/2012
Bell Security Fencing Ltd	£233	05/08/2013
Protofab Limited	£232	23/02/2012
Porters Craft Ltd	£230	14/09/2011
M K Mots Limited	£229	31/01/2014
Crush Ltd	£227	30/07/2014
Alchrist Engineering Limited	£222	02/08/2011
Prescot Oasis Centre	£222	06/11/2012
Westbury Precision Ltd	£222	16/08/2012
Parry & Blockwell Ltd	£220	22/12/2011
S L C Engineering North West Limited	£220	23/03/2012
Extech (Environmental Systems & Services) Limited	£217	14/02/2013
The Sheet Metal Company Limited	£217	05/01/2010
T J K Logistics Ltd	£216	23/08/2013
Aliscaff Ltd	£213	15/07/2013
Pendle Designs Ltd	£212	06/08/2012
Gibson Recovery Services Ltd	£211	02/07/2012
Freelance Garage (Cannock) Limited	£205	10/07/2012
Ander Teknix Engineering Limited	£205	19/09/2013
Chestnut Fine Foods Limited	£204	05/07/2013
Battistinis UK Ltd	£203	22/08/2012
Express Glass Northwest Limited	£200	24/04/2012
Wagstaff Recycling Limited	£200	20/11/2012
Wagstaff Recycling Limited	£200	20/11/2012
Chatham Steam Limited	£200	11/10/2013
Tanmill Limited	£197	09/12/2011
H & R Fabrications & Finishers Limited	£194	04/11/2013
Convoy Structural Services Ltd	£193	12/08/2011
Blythedale Limited	£191	16/11/2012
Integrated Metal Solutions Ltd	£190	14/10/2013
Dragon Fleet Services Limited	£185	05/08/2011
North East Catering Trailers & Van Conversions Ltd	£183	23/03/2011
Andros Engineering Limited	£180	12/07/2013
Trailer Care Ltd	£179	06/04/2011
Thomas Hopkinson & Son Limited	£179	19/07/2011
Wigston Courier Services Limited	£178	09/09/2011
Imgas Limited	£173	29/08/2012
J H Site Fabrications Limited	£172	06/12/2013
Chaigley Coachworks Limited	£172	26/10/2012
Ryan Fleet Services Limited	£169	06/09/2011
Claypenny Limited	£168	22/07/2010
Pearce Security Limited	£167	17/06/2010
Coleshill Environmental Ltd	£159	23/08/2013
Darleycross Motors Limited	£157	01/06/2012
Russell Engineers Limited	£155	02/03/2012
David Esau (Electrical Contractors) Limited	£154	15/05/2014
Forge Plant Limited	£152	12/02/2010
B T Aggregates Ltd	£150	20/12/2012
Venture Maintenance Services Ltd	£149	20/12/2012
Warehouse Clearance Limited	£147	24/07/2012
Geoff Amos Coaches Limited	£147	25/08/2011
R M P Automotive Ltd	£144	25/04/2013
Coreten Fabrications Limited	£144	23/01/2013
W P R UK Limited	£144	15/06/2011
Brittons Limited	£143	31/05/2011
M G Barn Ltd	£142	05/03/2013
Southern Pipework Services Ltd	£141	11/01/2011
Midas Precision Metalwork Limited	£140	26/02/2013
J J Arnold Services Limited	£139	21/10/2009
Garaquipt Ltd	£138	01/05/2012
Bickerley Garage Limited	£136	04/01/2012
Midas N D T Systems Limited	£135	15/10/2013
G E Engineering Limited	£131	04/10/2011
Dyno Tuner UK Limited	£130	24/10/2013
D A S Mechanical Services Ltd	£130	11/07/2013
R Robertson (Failsworth) Ltd	£130	09/05/2013
The Ideas Studio Ltd	£125	14/10/2011
Ductwork Projects Limited	£121	07/02/2014
Minimec Garage Services Ltd	£119	01/06/2011
Commercial Fitting Services UK Limited	£119	21/09/2012
Heritage Trailers Ltd	£119	12/08/2013
Rivershore (Shropshire) Limited	£119	01/05/2013
Advanced Polymerics Limited	£118	14/01/2014
Excalibur Engineering Limited	£118	31/10/2011
G Pollitt & Son Ltd	£117	28/06/2012
Autoshape Ltd	£117	15/10/2012
Audit C N C Machine Tools Ltd	£117	13/10/2011
Broadleaf Engineering Ltd	£116	20/05/2011
Wolfe Designs Limited	£115	03/02/2011
Advantage Engineering Technology Limited	£115	28/01/2013
Carwise Bristol Limited	£114	10/03/2011
Firmstone Engineering UK Limited	£112	22/02/2011
P P L Engineering Ltd	£110	20/03/2012
Pomeroy Pressroom Products Limited	£109	11/04/2014
Whittingham Horse Boxes Ltd	£109	28/03/2012
Versaduct Sheet Metal Limited	£108	30/07/2013
Mainwaring Metals Limited	£106	23/12/2010
P And F Engineering Limited	£105	16/11/2011
S M C Sheet Metal Ltd	£104	25/11/2010
Express Glass Group Ltd	£104	16/02/2011
Superior Shutters & Doors Limited	£104	20/09/2012
Kalat Limited	£103	28/03/2012
Hythe Accident Repair Centre Ltd	£101	13/11/2012

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Status History

No Status History found.

Event History

Date	Description
19/05/2014	Annual Returns
14/04/2014	New Board Member Mr D. Leney appointed
12/04/2014	New Accounts Filed
07/11/2013	New Board Member Mr T.G. Hammons, Jr appointed
20/05/2013	Annual Returns
13/04/2013	New Accounts Filed
13/04/2013	New Accounts Filed
21/12/2012	Ms D.L. Sheridan has left the board
21/12/2012	New Board Member Mr T.G. Hammons, Jr. appointed
19/05/2012	Annual Returns
14/04/2012	New Accounts Filed
14/04/2012	New Accounts Filed
23/03/2012	Mr G.M. Rhodes has left the board
23/03/2012	New Board Member Mrs E.J. Pescod appointed
23/03/2012	New Board Member Mr M.J. Sambrook appointed

Previous Company Names

No Previous Names found.

NOTES & COMMENTS

Commentary

The company's credit rating has increased from not rated to 95 which indicates very good creditworthiness.

Net Worth increased by 21.2% during the latest trading period.

A 3.7% growth in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 13.1% compared to the previous trading period.

The company saw an increase in their Cash Balance of 500% during the latest trading period.

Multiple CCJ's recorded against the company.

The credit limit on this company has fallen 3.8% in comparison to the previously suggested credit limit.

Sales in the latest trading period decreased 3% on the previous 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 104 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.80
UK Pound	1	Rs.100.06
Euro	1	Rs.78.46

INFORMATION DETAILS

Analysis Done by :	SUM

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.

Name	Number	Latest Key Financials	Turnover
TATA STEEL	0011-260	31.03.2014	€22,432,743,662
TATA SPONGE IRON	15-01091	31.03.2014	€117,562,699
TULIP NETHERLANDS (NO.2) B.V.	34270610	31.03.2011
TULIP NETHERLANDS (NO.1) B.V.	34270614	31.03.2011
TATA STEEL EUROPE LIMITED	05957565	31.03.2013	£8,706,000,000
TULIP UK HOLDINGS (NO.3) LIMITED	05934885	31.03.2014
TATA STEEL UK HOLDINGS LIMITED	05887351	31.03.2014	£8,556,000,000
CORUS GROUP LIMITED	03811373	31.03.2014
TRF	03-00700	31.03.2014	€181,037,595
TAYO ROLLS	00030818	31.03.2014	€23,409,250
CORUS INTERNATIONAL LIMITED	00747010	31.03.2014
CORUS INTERNATIONAL (OVERSEAS HOLDINGS) LIMITED	02643008	31.03.2014
TATA STEEL FRANCE HOLDINGS SAS	305546244	31.03.2013	€369,664
TATA STEEL GERMANY GMBH	HRB 55722	31.03.2013	€736,230,080
NORSK STÅL AS	959493715	31.12.2013	1,495,447 KNOK
COGENT POWER ELECTRICAL STEELS LIMITED	03849650	31.03.2012	£46,000
TATA STEEL FRANCE RAIL SAS	391575354	31.03.2011	€255,013,644
STAALVERWERKING EN HANDEL B.V.	34072703	31.03.2014
COGENT POWER LIMITED	02642030	29.03.2014	£696,000
AIR PRODUCTS HOLDINGS B.V.	29015164	30.09.2012