MIRA INFORM REPORT

Report No. :	497614
Report Date :	14.03.2018

IDENTIFICATION DETAILS

Name :	EDINBURGH INSTRUMENTS LIMITED
Registered Office :	Lake House Market Hill Royston Hertfordshire SG8 9JN
Country :	United Kingdom
Financials (as on) :	31.12.2016
Date of Incorporation :	19.09.1969
Com. Reg. No.:	00962331
Legal Form :	Private limited with Share Capital
Line of Business :	· Manufacture of optical precision instruments · Development, manufacture and sale of optical scientific instruments, laser systems and OEM gas detection equipment.
No. of Employees :	80 (2016)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
Payment Behaviour :	Regular
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
United Kingdom	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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. 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; the UK has been a net importer of energy since 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.

In 2008, 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 the UK’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. Facing burgeoning public deficits and debt levels, in 2010 the then CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which has continued under the Conservative government. However, the deficit still remains one of the highest in the G7, standing at 3.6% of GDP as of 2017, and the UK has pledged to lower its corporation tax from 20% to 17% by 2020. The UK had a debt burden of 90.4% GDP at the end of 2017.

The UK’s economy has begun to slow since the referendum vote to leave the EU in June 2016. A sustained depreciation of the British pound has increased consumer and producer prices, weighing on consumer spending without spurring a meaningful increase in exports. The UK has an extensive trade relationship with other EU members through its single market membership and economic observers have warned the exit will jeopardize its position as the central location for European financial services. Prime Minister MAY is seeking a new “deep and special” trade relationship with the EU following the UK’s exit. However, economists doubt that the UK will be able to preserve the benefits of EU membership without the obligations.

Source : CIA

Company Summary

Registered Address LAKE HOUSE MARKET HILL
ROYSTON
HERTFORDSHIRE
SG8 9JN

Trading Address Lake House Market Hill
Royston
Hertfordshire
SG8 9JN

2 Bain Square, Livingston

West Lothian

EH54 7DQ

Website Address http://www.edinst.com

Telephone Number -

Fax Number

TPS -

FPS Yes

Incorporation Date 19/09/1969

Previous Name

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 29/09/2017

Currency GBP

Share Capital £100,000

SIC07 26701

Charity Number -

SIC07 Description MANUFACTURE OF OPTICAL PRECISION INSTRUMENTS

Principal Activity Development, manufacture and sale of optical scientific instruments, laser systems and OEM gas detection equipment.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company TECHCOMP (HOLDINGS) LTD

Accountant -

Mortgages 3

Group 9 companies

Linkages 1 companies

Countries In 1 countries

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder's Funds Employees

31/12/2016 £10,891,962 £712,363 £5,509,137 80

31/12/2015 £9,396,599 £945,434 £4,706,774 72

31/12/2014 £8,774,066 £823,231 £3,621,821 70

Mortgage Summary

Total Mortgage 3

Outstanding 3

Satisfied 0

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

This company's ratio of total liabilities to total assets indicates the presence of strong equity funding.

This company's return on total assets employed ratio indicates a relatively efficient use of assets.

The company has more cash than short term bank borrowings.

This company trades in an industry with a lower level of corporate failures.

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 -	-

Total Current Directors	3	Total Current Secretaries	1
Total Previous Directors / Company Secretaries	23	Total Person's With Significant Control	1

Current Directors

Title	Mr	Function	Director
Name	Christopher James O'Connor	Nationality	British
Date of Birth	09/1966	Present Appointments	6
Latest Address	Lake House Market Hill, Royston, Hertfordshire	Appointment Date	20/02/2013
Post Code	SG8 9JN
Title	Mr	Function	Director
Name	Yat Keung Lo	Nationality	Chinese
Date of Birth	02/1959	Present Appointments	3
Latest Address	Lake House Market Hill, Royston, Hertfordshire	Appointment Date	20/02/2013
Post Code	SG8 9JN

Title	Mr	Function	Director
Name	Wai Shing Chan	Nationality	Chinese
Date of Birth	09/1968	Present Appointments	3
Latest Address	Lake House Market Hill, Royston, Hertfordshire	Appointment Date	20/02/2013
Post Code	SG8 9JN

Current Company Secretary

Title	Mr	Function	Company Secretary
Name	Gerald Gilligan	Nationality	British
Date of Birth	06/1952	Present Appointments	1
Latest Address	Lake House Market Hill, Royston, Hertfordshire	Appointment Date	13/08/2004
Post Code	SG8 9JN

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
TECHCOMP EUROPE LTD	GBP	100,000	ORDINARY	1	100

Profit & Loss

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/03/13
	Weeks	52	(%)	52	(%)	52	(%)	39	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
	Turnover	£10,891,962	15.9%	£9,396,599	7.1%	£8,774,066	43.6%	£6,109,029	-25.5%	£8,200,567
	Export	£10,217,601	17.1%	£8,722,238	6.5%	£8,192,294	47.6%	£5,550,464	-26.3%	£7,527,056
	Cost of Sales	£5,647,460	18.7%	£4,757,898	7.2%	£4,439,760	8.8%	£4,082,205	-16.9%	£4,912,644
	Gross Profit	£5,244,502	13.1%	£4,638,701	7%	£4,334,306	113.8%	£2,026,824	-38.4%	£3,287,923
	Wages & Salaries	£3,069,792	19%	£2,578,678	70.5%	£1,512,352	-12.5%	£1,729,109	6.7%	£1,620,885
	Directors Emoluments	-	-	-	-	-	-	-	-100%	£307,016
	Operating Profit	£712,230	-24.6%	£944,414	14.7%	£823,231	56%	£527,741	93%	£273,401
	Depreciation	£158,676	35.6%	£117,041	-0.3%	£117,418	71.6%	£68,444	-29%	£96,411
	Audit Fees	£7,150	2.1%	£7,000	2.3%	£6,840	-	£6,840	-	£6,840
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	£712,363	-24.7%	£945,434	14.8%	£823,231	55.2%	£530,330	92.2%	£275,921
	Taxation	£90,000	-35.5%	£139,519	416.6%	-£44,072	53.8%	-£95,447	-120.3%	-£43,334
	Profit After Tax	£802,363	-26%	£1,084,953	39.2%	£779,159	79.2%	£434,883	87%	£232,587
	Dividends Payable	-	-	-	-	-	-	-	-100%	£229,000
	Retained Profit	£802,363	-26%	£1,084,953	39.2%	£779,159	79.2%	£434,883	999.9%	£3,587

Balance Sheet

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/03/13
	Tangible Assets	£386,387	-10%	£429,198	79.8%	£238,667	108.7%	£114,356	-17.2%	£138,152
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£386,387	-10%	£429,198	79.8%	£238,667	108.7%	£114,356	-17.2%	£138,152
	Stock	£1,795,396	38.6%	£1,295,243	-10%	£1,439,045	17.3%	£1,227,012	0.6%	£1,219,392
	Trade Debtors	£404,018	-66.3%	£1,198,965	99.8%	£600,027	-32.9%	£894,064	-56.7%	£2,062,662
	Cash	£413,973	-51.5%	£853,168	-6.4%	£911,669	-24.4%	£1,205,591	205.7%	£394,312
	Other Debtors	£4,534,430	97.8%	£2,293,005	33.7%	£1,715,224	307.7%	£420,753	75.8%	£239,341
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£7,147,817	26.7%	£5,640,381	20.9%	£4,665,965	24.5%	£3,747,420	-4.3%	£3,915,707
	Trade Creditors	£461,155	1.7%	£453,583	-4.9%	£476,849	40.9%	£338,356	-57.3%	£792,862
	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
	Other Short Term Finance	£362,145	262.1%	£100,002	460.1%	£17,855	999.9%	£2	-	£2
	Miscellaneous Current Liabilities	£1,201,767	48.5%	£809,220	2.7%	£788,107	15.8%	£680,757	-20.2%	£853,218
	Total Current Liabilities	£2,025,067	48.6%	£1,362,805	6.2%	£1,282,811	25.9%	£1,019,115	-38.1%	£1,646,082
	Bank Loans & Overdrafts and LTL	0	-	0	-	0	-	0	-	0
	Other Long Term Finance	0	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	0	-	0	-	0	-	0	-	0

Capital & Reserves

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/03/13
	Called Up Share Capital	£100,000	-	£100,000	-	£100,000	-	£100,000	-	£100,000
	P & L Account Reserve	£4,707,642	20.5%	£3,905,279	38.5%	£2,820,326	38.2%	£2,041,166	27.1%	£1,606,282
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	£701,495	-	£701,495	-	£701,495	-	£701,495	-	£701,495
	Shareholder Funds	£5,509,137	17%	£4,706,774	30%	£3,621,821	27.4%	£2,842,661	18.1%	£2,407,777

Other Financial Items

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/03/13
	Net Worth	£5,509,137	17%	£4,706,774	30%	£3,621,821	27.4%	£2,842,661	18.1%	£2,407,777
	Working Capital	£5,122,750	19.8%	£4,277,576	26.4%	£3,383,154	24%	£2,728,305	20.2%	£2,269,625
	Total Assets	£7,534,204	24.1%	£6,069,579	23.8%	£4,904,632	27%	£3,861,776	-4.7%	£4,053,859
	Total Liabilities	£2,025,067	48.6%	£1,362,805	6.2%	£1,282,811	25.9%	£1,019,115	-38.1%	£1,646,082
	Net Assets	£5,509,137	17%	£4,706,774	30%	£3,621,821	27.4%	£2,842,661	18.1%	£2,407,777

Cash Flow

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/03/13
	Net Cashflow from Operations	-	-	-	-	-£55,730	-106.1%	£907,051	999.9%	£10,954
	Net Cashflow before Financing	-	-	-	100%	-£293,922	-136.2%	£811,279	515.1%	-£195,443
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-£293,922	-136.2%	£811,279	515.1%	-£195,443

Miscellaneous

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/03/13
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£5,509,137	17%	£4,706,774	30%	£3,621,821	27.4%	£2,842,661	18.1%	£2,407,777
	Number of Employees	80	11.1%	72	2.9%	70	9.4%	64	-9.9%	71
	Accountants
	Auditors	MAZARS LLP
	Auditor Comments	The audit report contains no adverse comments
	Bankers	BANK OF SCOTLAND
	Bank Branch Code	80-46-38

Ratios

	Date Of Accounts	31/12/16	31/12/15	31/12/14	31/12/13	31/03/13
	Pre-tax profit margin %	6.54	10.06	9.38	8.68	3.36
	Current ratio	3.53	4.14	3.64	3.68	2.38
	Sales/Net Working Capital	2.13	2.20	2.59	2.24	3.61
	Gearing %	0	0	0	0	0
	Equity in %	73.10	77.50	73.80	73.60	59.40
	Creditor Days	15.41	17.57	19.78	15.12	35.19
	Debtor Days	13.50	46.44	24.89	39.95	91.55
	Liquidity/Acid Test	2.64	3.18	2.51	2.47	1.63
	Return On Capital Employed %	12.93	20.08	22.72	18.65	11.45
	Return On Total Assets Employed %	9.45	15.57	16.78	13.73	6.80
	Current Debt Ratio	0.36	0.28	0.35	0.35	0.68
	Total Debt Ratio	0.36	0.28	0.35	0.35	0.68
	Stock Turnover Ratio %	16.48	13.78	16.40	20.08	14.86
	Return on Net Assets Employed %	12.93	20.08	22.72	18.65	11.45

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
09/11/2017	Confirmation Statement
14/10/2017	Payment Data Update Received
13/10/2017	New Accounts Filed
13/10/2017	New Accounts Filed
22/11/2016	Annual Returns
22/10/2016	Payment Data Update Received
18/10/2016	New Accounts Filed
18/10/2016	New Accounts Filed
15/11/2015	Annual Returns
14/07/2015	Payment Data Update Received
24/04/2015	New Accounts Filed
24/04/2015	New Accounts Filed
21/11/2014	Annual Returns
09/10/2014	New Accounts Filed
09/10/2014	New Accounts Filed

Previous Company Names

No Previous Names found

Writ Details

No writs found

Statistics

Group	9 companies
Linkages	1 companies
Countries	In 1 countries

Summary

Holding Company	TECHCOMP (EUROPE) LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	TECHCOMP (HOLDINGS) LTD

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
TECHCOMP (HOLDINGS) LTD	N/A	-	-
TECHCOMP (EUROPE) LIMITED	08330380	31.12.2016	N
SCION INSTRUMENTS (U...	09670377	31.12.2016	N	£9,148,682
EDINBURGH INSTRUMENT...	00962331	31.12.2016	N	£10,891,962
EDINBURGH PHOTONIC...	SC419274	31.12.2017	N
EDINBURGH SENSORS...	01798771	31.12.2017	N
TECHCOMP SCIENTIFIC LTD	N/A	-	-
DYNAMICA SCIENTIFIC LTD	07288011	31.12.2016	N	£862,744
PRECISA LIMITED	05997164	31.12.2016	N	£343,221

Other Linked Companies

Name	Number	Latest Key Financials	Turnover
SCION INSTRUMENTS (NL) B.V.	63038129	31.12.2016

Mortgage Details

Mortgage Type:
Date Charge Created:	10/12/14
Date Charge Registered:	16/12/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BANK OF SCOTLAND PLC;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS NEGATIVEPLEDGE.
Mortgage Type:	LETTER OF OFFSET
Date Charge Created:	01/02/91
Date Charge Registered:	13/02/91
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND
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:	THE BALANCES AT CREDIT OF ANY ACCOUNTS HELD BY THE BANK IN THE NAME OF THE COMPANY

Mortgage Type:	DEBENTURE
Date Charge Created:	12/07/77
Date Charge Registered:	21/07/77
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY 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 & BOOK DEBTS UNCALLED CAPITAL. INCLUDING ALL BUILDINGS AND ERECTIONS, FIXED PLANT ANDMACHINERY (SEE DOC M36)

Previous Director/Company Secretaries

Name	Current Active Appointments			Previous Appointments	Dissolved Companies
John Rankin Small	0			7	14
Stanley Desmond Smith	2			2	3
Richard Benson Dennis	0			5	6
John Hugh Griffiths	0			3	0
Murray Alexander Steele	6			12	13
Murray Alexander Steele	6			12	13
Charles Ian Wilson	0			1	0
Malcolm Peaker	0			3	3
Terence Michael Christmas	0			2	3
David James McCarlie	3			4	5
Charles Thomas Elliott	0			1	1
Gillian Anne Smith	0			3	1
Gillian Anne Smith	0			3	1
Martin William Dundas	0			3	0
Mary Jane Brouwers	0			2	1
Karen Anne Cochrane	0			2	1
Gordon William Clephane	0			1	0
Jason Keddie	1			1	4
Karen Marina Sullivan	2			1	0
Peter Julian Iredale	1			4	3
Alan Kennedy Faichney	0			8	4
Frederick Alexander Bruce Shepherd	2			9	1
Chanchal Singh	0			1	1
Total Persons With Significant Control		1	Total Statements			0
Active		1	Active			0
Ceased		0	Ceased			0

Active Persons With Significant Control

Name	Techcomp (Europe) Limited	Kind	Corporate Entity With Significant Control
Address	Lake House Market Hill, Royston	Notified On	06/04/2016
Post Code	SG8 9JN	Legal Form	Private Limited Company
Authority	Companies Act Uk	Place Registered	Companies House
Country Registered	England	Registration Number	08330380
Nature Of Control	Ownership of shares - above 75%

Ceased Persons With Significant Control

No Ceased Persons With Significant Control To Display

Active Statements

No Active Statements To Display

Ceased Statements

No Ceased Statements To Display

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.96
UK Pound	1	INR 90.23
Euro	1	INR 80.09
GBP	1	INR 90.86

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	TRU

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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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.