MIRA INFORM REPORT

Report No. :	498375
Report Date :	15.03.2018

IDENTIFICATION DETAILS

Name :	BIFOLD FLUIDPOWER LIMITED
Formerly Known As :	BIFOLD COMPANY (MANUFACTURING) LIMITED
Registered Office :	Rotork House Brassmill Lane Bath Somerset BA1 3JQ
Country :	United Kingdom
Financials (as on) :	31.12.2016
Date of Incorporation :	31.01.1984
Com. Reg. No.:	01787729
Legal Form :	Private limited with Share Capital
Line of Business :	· Manufacture of fluid power equipment · The manufacture and sale of pneumatic hydraulic control valves
No. of Employees :	186 (2014)

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 Name and Address

BIFOLD FLUIDPOWER LIMITED

ROTORK HOUSE BRASSMILL LANE BATH SOMERSET BA1 3JQ

Company No.

01787729

Company Status

Active - Accounts Filed

Company Summary

Registered Address ROTORK HOUSE BRASSMILL LANE
BATH
SOMERSET
BA1 3JQ

Trading Address Rotork House
Brassmill Lane
Bath
Avon
BA1 3JQ

Broadgaye,

Oldham Broadway Business Park

Chadderton,

Greater Manchester

OL9 9XA

Website Address http://www.bifold.co.uk

Telephone Number -

Fax Number

TPS -

FPS Yes

Incorporation Date 31/01/1984

Previous Name BIFOLD COMPANY (MANUFACTURING) LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 10/09/1999

Filing Date of Accounts 03/08/2017

Currency GBP

Share Capital £105

SIC07 28120

Charity Number -

SIC07 Description MANUFACTURE OF FLUID POWER EQUIPMENT

Principal Activity The manufacture and sale of pneumatic hydraulic control valves

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company ROTORK P.L.C.

Accountant -

Mortgages 9

Group 25 companies

Linkages 1641 companies

Countries In 41 countries

Key Financials

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

31/12/2016 £34,628,000 £3,554,000 £7,371,000 -

26/08/2015 £30,078,000 £2,691,000 £4,261,000 -

31/08/2014 £35,535,335 £6,140,796 £5,010,919 186

Mortgage Summary

Total Mortgage 9

Outstanding 3

Satisfied 6

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

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

This company has made late payments on a medium percentage of invoices.

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

The company has more cash than short term bank borrowings.

This company trades in an industry with a moderate 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	2	Total Current Secretaries	1
Total Previous Directors / Company Secretaries	10	Total Person's With Significant Control	1

Current Directors

Title	Mr	Function	Director
Name	Gary Terence Jacobson	Nationality	British
Date of Birth	08/1967	Present Appointments	7
Latest Address	Rotork House Brassmill Lane, Bath, Somerset	Appointment Date	15/04/2002
Post Code	BA1 3JQ
Title	Mr	Function	Director
Name	Jonathan Mark Davis	Nationality	British
Date of Birth	03/1966	Present Appointments	13
Latest Address	Rotork House Brassmill Lane, Bath, Somerset	Appointment Date	27/08/2015
Post Code	BA1 3JQ

Current Company Secretary

Title	Mr	Function	Company Secretary
Name	Stephen Rhys Jones	Nationality
Date of Birth	-	Present Appointments	1
Latest Address	Rotork House Brassmill Lane, Bath, Somerset	Appointment Date	27/08/2015
Post Code	BA1 3JQ

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
BIFOLD FLUIDPOWER (HOLDINGS) LTD	GBP	105	ORDINARY	1	100

Profit & Loss

	Date Of Accounts	31/12/16	(%)	26/08/15	(%)	31/08/14	(%)	01/09/13	(%)	02/09/12
	Weeks	70	(%)	51	(%)	52	(%)	52	(%)	53
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
	Turnover	£34,628,000	15.1%	£30,078,000	-15.4%	£35,535,335	6.3%	£33,440,214	12.5%	£29,711,690
	Export	£26,724,000	15%	£23,235,000	-8.1%	£25,284,868	12.2%	£22,525,898	0.7%	£22,374,811
	Cost of Sales	£22,986,000	19.6%	£19,215,000	-12.9%	£22,052,020	9.6%	£20,127,097	9.1%	£18,452,356
	Gross Profit	£11,642,000	7.2%	£10,863,000	-19.4%	£13,483,315	1.3%	£13,313,117	18.2%	£11,259,334
	Wages & Salaries	£8,984,000	27.8%	£7,029,000	5.7%	£6,647,270	12.2%	£5,925,829	-1.1%	£5,994,383
	Directors Emoluments	£269,000	-8.8%	£295,000	-13.2%	£339,781	-26.5%	£462,132	0.7%	£458,960
	Operating Profit	£3,548,000	31.4%	£2,700,000	-56.1%	£6,153,557	-19.9%	£7,683,630	26.4%	£6,077,886
	Depreciation	£957,000	15.9%	£826,000	55.4%	£531,515	3%	£515,916	45.4%	£354,887
	Audit Fees	£82,000	583.3%	£12,000	4.3%	£11,500	7%	£10,750	2.4%	£10,500
	Interest Payments	-	-100%	£11,000	-24.2%	£14,504	-23%	£18,837	142.1%	£7,782
	Pre Tax Profit	£3,554,000	32.1%	£2,691,000	-56.2%	£6,140,796	-19.9%	£7,667,060	26.3%	£6,071,469
	Taxation	-£444,000	-52.6%	-£291,000	73.9%	-£1,115,137	39.3%	-£1,835,622	-39.6%	-£1,314,747
	Profit After Tax	£3,110,000	29.6%	£2,400,000	-52.2%	£5,025,659	-13.8%	£5,831,438	22.6%	£4,756,722
	Dividends Payable	-	-	-	-100%	£5,775,000	-	£5,775,000	37.5%	£4,200,000
	Retained Profit	£3,110,000	514.7%	-£750,000	-0.1%	-£749,341	-999.9%	£56,438	-89.9%	£556,722

Balance Sheet

	Date Of Accounts	31/12/16	(%)	26/08/15	(%)	31/08/14	(%)	01/09/13	(%)	02/09/12
	Tangible Assets	£3,103,000	-16.2%	£3,705,000	-4%	£3,858,629	63.5%	£2,360,599	208.8%	£764,387
	Intangible Assets	£898,000	-	0	-100%	£13	-97.8%	£587	-85.5%	£4,057
	Total Fixed Assets	£4,001,000	8%	£3,705,000	-4%	£3,858,642	63.4%	£2,361,186	207.3%	£768,444
	Stock	£4,493,000	-20.9%	£5,678,000	-0.5%	£5,708,022	26.3%	£4,518,092	19.7%	£3,773,782
	Trade Debtors	£5,034,000	-8.8%	£5,519,000	-36%	£8,624,195	21.7%	£7,087,796	1.1%	£7,009,060
	Cash	£468,000	23.8%	£378,000	-3.6%	£392,138	-53.3%	£840,375	41%	£596,116
	Other Debtors	£1,169,000	46.3%	£799,000	-20.1%	£999,875	17.1%	£853,572	37.8%	£619,220
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£11,164,000	-9.8%	£12,374,000	-21.3%	£15,724,230	18.2%	£13,299,835	10.8%	£11,998,178
	Trade Creditors	£2,299,000	26.7%	£1,815,000	-44.7%	£3,282,077	19.9%	£2,737,907	19.8%	£2,285,318
	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
	Other Short Term Finance	£3,897,000	-54.4%	£8,552,000	-15.2%	£10,089,993	103.9%	£4,948,764	37.3%	£3,604,835
	Miscellaneous Current Liabilities	£1,598,000	10.1%	£1,451,000	20.9%	£1,199,883	-45.8%	£2,214,090	88.8%	£1,172,647
	Total Current Liabilities	£7,794,000	-34%	£11,818,000	-18.9%	£14,571,953	47.2%	£9,900,761	40.2%	£7,062,800
	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	(%)	26/08/15	(%)	31/08/14	(%)	01/09/13	(%)	02/09/12
	Called Up Share Capital	-	-	-	-100%	£105	-	£105	-	£105
	P & L Account Reserve	£7,371,000	73%	£4,261,000	-15%	£5,010,814	-13%	£5,760,155	1%	£5,703,717
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£7,371,000	73%	£4,261,000	-15%	£5,010,919	-13%	£5,760,260	1%	£5,703,822

Other Financial Items

	Date Of Accounts	31/12/16	(%)	26/08/15	(%)	31/08/14	(%)	01/09/13	(%)	02/09/12
	Net Worth	£6,473,000	51.9%	£4,261,000	-15%	£5,010,906	-13%	£5,759,673	1.1%	£5,699,765
	Working Capital	£3,370,000	506.1%	£556,000	-51.7%	£1,152,277	-66.1%	£3,399,074	-31.1%	£4,935,378
	Total Assets	£15,165,000	-5.7%	£16,079,000	-17.9%	£19,582,872	25%	£15,661,021	22.7%	£12,766,622
	Total Liabilities	£7,794,000	-34%	£11,818,000	-18.9%	£14,571,953	47.2%	£9,900,761	40.2%	£7,062,800
	Net Assets	£7,371,000	73%	£4,261,000	-15%	£5,010,919	-13%	£5,760,260	1%	£5,703,822

Miscellaneous

	Date Of Accounts	31/12/16	(%)	26/08/15	(%)	31/08/14	(%)	01/09/13	(%)	02/09/12
	Contingent Liability	NO	-	NO	-	YES	-	YES	-	YES
	Capital Employed	£7,371,000	73%	£4,261,000	-15%	£5,010,919	-13%	£5,760,260	1%	£5,703,822
	Number of Employees	-	-	-	-	186	8.1%	172	13.2%	152
	Accountants
	Auditors	DELOITTE LLP
	Auditor Comments	The audit report contains no adverse comments
	Bankers	BANK OF SCOTLAND
	Bank Branch Code	80-48-86

Ratios

	Date Of Accounts	31/12/16	26/08/15	31/08/14	01/09/13	02/09/12
	Pre-tax profit margin %	10.26	8.95	17.28	22.93	20.43
	Current ratio	1.43	1.05	1.08	1.34	1.70
	Sales/Net Working Capital	10.28	54.10	30.84	9.84	6.02
	Gearing %	0	0	0	0	0
	Equity in %	51.70	26.50	25.60	36.80	44.70
	Creditor Days	32.53	21.54	33.61	29.80	28.53
	Debtor Days	71.23	65.50	88.34	77.15	87.51
	Liquidity/Acid Test	0.85	0.56	0.68	0.88	1.16
	Return On Capital Employed %	48.21	63.15	122.54	133.10	106.44
	Return On Total Assets Employed %	23.43	16.73	31.35	48.95	47.55
	Current Debt Ratio	1.05	2.77	2.90	1.71	1.23
	Total Debt Ratio	1.05	2.77	2.90	1.71	1.23
	Stock Turnover Ratio %	12.97	18.87	16.06	13.51	12.70
	Return on Net Assets Employed %	48.21	63.15	122.54	133.10	106.44

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
11/01/2018	Confirmation Statement
15/08/2017	Payment Data Update Received
14/08/2017	New Accounts Filed
14/08/2017	New Accounts Filed
01/08/2017	Mr P.I. France has left the board
18/01/2017	Annual Returns
19/04/2016	New Accounts Filed
18/03/2016	Payment Data Update Received
02/02/2016	Annual Returns
08/10/2015	Payment Data Update Received
10/09/2015	New Company Secretary Mr S.R. Jones appointed
10/09/2015	New Board Member Mr P.I. France appointed
10/09/2015	New Board Member Mr J.M. Davis appointed
04/09/2015	Payment Data Update Received
04/09/2015	Change in Reg.Office

Previous Company Names

Date	Previous Name
10/09/1999	BIFOLD COMPANY (MANUFACTURING) LIMITED

Writ Details

No writs found

Statistics

Group	25 companies
Linkages	1641 companies
Countries	In 41 countries

Summary

Holding Company	BIFOLD FLUIDPOWER (HOLDINGS) LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	ROTORK P.L.C.

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
ROTORK P.L.C.	00578327	31.12.2016	Y	£590,078,000
ROTORK INSTRUMENTS LIM...	03908922	31.12.2016	N
G.H. CHAPLIN & CO. (EN...	01339474	31.12.2016	N
ROTORK ANALYSIS LIMITED	02466765	31.12.2016	N
ROTORK CLEANERS LIMITED	01568172	31.12.2016	N
ROTORK CONTROLS LIMITED	00608345	31.12.2016	N	£84,757,000
ROTORK UK LIMITED	01090344	31.12.2016	N	£46,775,000
FLOWCO LIMITED	02891839	31.12.2016	N	£2,075,586
PROKITS LIMITED	04223700	30.06.2016	N
VALVEKITS LIMITED	03215737	31.12.2016	N
CIRCA ENGINEERING...	03133815	31.12.2016	N
ROTORK CONTROL & SAFET...	01355951	31.12.2016	N
ROTORK NOMINEES LIMITED	00688773	31.12.2016	N
ROTORK OVERSEAS LIMITED	01010160	31.12.2016	N
ROTORK MIDLAND LIMITED	02819224	31.12.2016	N	£9,565,819
BIFOLD GROUP LIMITED	06186844	31.12.2016	N
BIFOLD FLUIDPOWER...	04606078	31.12.2016	N
BIFOLD FLUIDPOWER...	01787729	31.12.2016	N	£34,628,000
FLUIDPOWER (STA...	01928457	31.12.2016	N
BIFOLD COMPANY (M...	01854794	31.12.2016	N
MTS PRECISION LIM...	03200422	31.12.2016	N	£6,799
MARSHALSEA HYDRAU...	00246258	31.12.2016	N	£6,795,000
ROTORK AG	CHE113370576	-	-
SCHISCHEK LIMITED	02835813	28.02.2017	N
WIDCOMBE(DEVELOPMENTS)...	00705211	31.12.2016	N

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Name	Number	Latest Key Financials	Turnover
ARROW CENTRAL EUROPE GMBH	HRB 34655	31.12.2015	€21,935,350,653
SPIRAX-SARCO AMERICA LIMITED	07829847	31.12.2016
SPIRAX-SARCO OVERSEAS LIMITED	01472201	31.12.2016
SPIRAX-SARCO ENGINEERING PLC	00596337	31.12.2016	£757,400,000
ARROW ECS CENTRAL GMBH	HRB 176705	31.12.2015	€15,654,928
ROTORK ITALY HOLDINGS S.R.L.	MI1997109	31.12.2016	€211,565
VIVANCO GRUPPE AKTIENGESELLSCHAFT	HRB 3913 AH	31.12.2015	€83,286,201
SPIRAX-SARCO LIMITED	00509018	31.12.2016	£122,820,000
SPIRAX SARCO	552126922	31.12.2016	€59,349,524
SPIRAX - SARCO S.R.L.	MB1172330	31.12.2016	€54,790,693
M & M INTERNATIONAL S.R.L.	MI1658695	31.12.2014	€8,664,803
WBR WOHNUNGSBAU RHEINHAUSEN GMBH	HRB 129291	31.12.2015	€23,284,584
CD-ROCKET HOLDING UG (HAFTUNGSBESCHRÄNKT) & CO. BETEILIGUNGS KG	HRA 43433 B	31.12.2010
KEDING - ZUKUNFT GMBH & CO. KG	HRA 40368B	31.12.2013
KARLIE GMBH	HRB 1411	31.12.2012
RIZZIO SPA	VC128283	31.12.2013	€234,595
WATSON-MARLOW LIMITED	02481019	31.12.2016	£52,292,754
RANCH HOLDING ONE GMBH	HRB 10244	31.03.2013
BAYROL DEUTSCHLAND GMBH	HRB 674	31.12.2008	€43,728,490
SPIRAX - SARCO NV	400104610	31.12.2016	€13,422,057

Mortgage Details

Mortgage Type:
Date Charge Created:	06/06/14
Date Charge Registered:	12/06/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	LLOYDS BANK PLC;
Amount Secured:
Details:	UNIT 18, BROADGATE, OLDHAM BROADWAY BUSINESS PARK, CHADDERTON, GREATER MANCHESTER, OL9 9XA REGISTERED AT HM LAND REGISTRY UNDER TITLE NUMBER GM575265CONTAINS FIXED CHARGE.CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.
Mortgage Type:
Date Charge Created:	06/06/14
Date Charge Registered:	12/06/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BANK OF SCOTLAND PLC;
Amount Secured:
Details:	UNIT 18, BROADGATE, OLDHAM BROADWAY BUSINESS PARK, CHADDERTON, GREATER MANCHESTER, OL9 9XA REGISTERED AT HM LAND REGISTRY UNDER TITLE NUMBER GM575265CONTAINS FIXED CHARGE.CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.

Mortgage Type:	DEBENTURE
Date Charge Created:	26/04/12
Date Charge Registered:	04/05/12
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	LDC (MANAGERS) LIMITED (THE SECURITY TRUSTEE)
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND EACH GRANTOR OF SECURITY TO THE SECURED PARTIES(OR ANY OF THEM) ON ANY ACCOUNT WHATSOEVER UNDER THE TERMSOF THE AFOREMENTIONED INSTRUMENT CREATINGOR EVIDENCING THE CHARGE
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, FIXED PLANT &MACHINERY SEE IMAGE FOR FULL DETAILS
Mortgage Type:	DEED OF ASSIGNMENT OF KEYMAN LIFE POLICY
Date Charge Created:	20/04/07
Date Charge Registered:	09/05/07
Date Charge Satisfied:	26/08/15
Status:	SATISFIED
Person(s) Entitled:	THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND IN ITS CAPACITY AS SECURITY TRUSTEE FOR THESEC;
Amount Secured:
Details:	INSURER: SCOTTISH EQUITABLE. POLICIES NO: L0191615032. LIFE ASSURED: MICHAEL DENNIS. SUM ASSURED: £100,000. EXPIRY DATE: 30 DECEMBER 2008. INSURER: SCOTTISH EQUITABLE. POLICIES NO: L0191125032. LIFE ASSURED: MICHAEL DENNIS. SUM ASSURED: £300,000. EXPIRY DATE: 30 DECEMBER 2008. INSURER: SCOTTISH EQUITABLE. POLICIES NO:L0194315032. LIFE ASSURED: GARY JACOBSON. SUM ASSURED: £600,000. EXPIRY DATE: 30 DECEMBER 2007.SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	DEBENTURE
Date Charge Created:	20/04/07
Date Charge Registered:	05/05/07
Date Charge Satisfied:	26/08/15
Status:	SATISFIED
Person(s) Entitled:	THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND (THE "SECURITY TRUSTEE");
Amount Secured:
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 MACHINERYSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Mortgage Type:	DEBENTURE
Date Charge Created:	23/12/02
Date Charge Registered:	27/12/02
Date Charge Satisfied:	26/08/15
Status:	SATISFIED
Person(s) Entitled:	THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND;
Amount Secured:
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

Mortgage Type:	GUARANTEE
Date Charge Created:	23/12/02
Date Charge Registered:	27/12/02
Date Charge Satisfied:	26/08/15
Status:	SATISFIED
Person(s) Entitled:	THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND;
Amount Secured:
Details:	ALL MONEY STANDING TO THE CREDIT OF THECOMPANY'S ACCOUNTS IN ANY CURRENCY
Mortgage Type:	LEGAL CHARGE
Date Charge Created:	16/05/97
Date Charge Registered:	28/05/97
Date Charge Satisfied:	27/12/02
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	LAND AT WEST SIDE OF GREENGATE CHADDERTON OLDHAM GREATER MANCHESTER T/N'S GM495499 AND GM186754

Mortgage Type:	GUARANTEE AND DEBENTURE
Date Charge Created:	18/02/97
Date Charge Registered:	24/02/97
Date Charge Satisfied:	27/12/02
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND/OR FLUIDPOWER (STAINLESS STEEL) LIMITED TO THECHARGEE 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 FIXTURES FIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Previous Director/Company Secretaries

Name	Current Active Appointments			Previous Appointments	Dissolved Companies
James Ronald Finch	0			3	3
Norman Draper	0			4	3
Michael Draper	0			4	1
James Fishwick	0			1	0
Andrew Sebastian Revans	0			14	0
Andrew Sebastian Revans	0			14	0
Peter Jeremy Rawlins	2			20	62
Michael Thomas Dennis	0			7	0
Bernard Charles Egbert Pazzard	0			7	4
Peter Ian France	0			14	1
Total Persons With Significant Control		1	Total Statements			0
Active		1	Active			0
Ceased		0	Ceased			0

Active Persons With Significant Control

Name	Bifold Fluidpower (Holdings) Limited	Kind	Corporate Entity With Significant Control
Address	Rotork House Brassmill Lane, Bath	Notified On	06/04/2016
Post Code	BA1 3JQ	Legal Form	Limited
Authority	Companies Act 1985	Place Registered	England & Wales
Country Registered	England	Registration Number	04606078
Nature Of Control	Ownership Of Shares 75 To 100 Percent,Voting Rights 75 To 100 Percent,Right To Appoint And Remove Directors

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 64.99
UK Pound	1	INR 90.83
Euro	1	INR 80.58
GBP	1	INR 90.43

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)

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.