MIRA INFORM REPORT

 

 

Report Date :

04.05.2013

 

IDENTIFICATION DETAILS

 

Name :

ULTRATEST SYSTEMS LTD.

 

 

Registered Office :

Link House, 553 High Road, Wembley, HA0 2DW, Middlesex County

 

 

Country :

United Kingdom

 

 

Financials (as on) :

30.11.2011

 

 

Date of Incorporation :

23.11.2000

 

 

Com. Reg. No.:

04113211

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

Subject is privately-owned business providing marketing tools and instrumentation for the semiconductor industry in the United Kingdom

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow but correct

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 – March 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

United Kingdom

A1

A1

 

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 second largest economy in Europe after Germany. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. 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, account by far for the largest proportion of GDP while industry continues to decline in importance. 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. Sharply declining 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 include 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 over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of 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 up to £375 billion (approximately $605 billion) as of December 2012. 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. GDP fell 0.1%, and the budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued to increase

 

Source : CIA

 

Company name and address

 

Ultratest Systems Ltd.

 

 

 

Link House

553 High Road

 

Wembley, HA0 2DW

United Kingdom

(Trading Address)

 

Employees:

NA

Company Type:

Private Subsidiary

Corporate Family:

3 Companies

Ultimate Parent:

Stellmont Holding Ltd.

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

23-Nov-2000

Auditor:

Moti And Co London Ltd

 

 

 

 

 

 

 

 

 

 

Fiscal Year End:

30-Nov-2011

Reporting Currency:

US Dollar

Annual Sales:

14.5 1

Net Income:

0.2

Total Assets:

5.6

 

 

 

 

 

 

 

 

Business Description

                                    

 

Ultratest Systems Ltd. is a privately-owned business providing marketing tools and instrumentation for the semiconductor industry in the United Kingdom. The company provides marketing tools for testing and analysis of integrated circuit devices in the form of wafers. It offers instruments ranging from automated testers for packaged devices, as well as in-circuit testers. The company offers various capabilities, including curve tracing, parametric testing and latch-up testing, curve tracing and precision and cross-section kit. (Updated by OneSource Information Services)

 

 

Industry

               

 

Industry

Personal Services

ANZSIC 2006:

9539 - Other Personal Services Not Elsewhere Classified

NACE 2002:

9305 - Other service activities not elsewhere classified

NAICS 2002:

8129 - Other Personal Services

UK SIC 2003:

9305 - Other service activities not elsewhere classified

UK SIC 2007:

9609 - Other personal service activities n.e.c.

US SIC 1987:

7299 - Miscellaneous Personal Services, Not Elsewhere Classified

 

 

Key Executives   

                                                          

 

Name

Title

 

Hardeep Beri

Secretary

 

 

 

Financial Summary

                                

 

FYE: 30-Nov-2011

USD (mil)

Key Figures

 

Current Assets

3.47

Fixed Assets

2.16

Total Liabilities

3.32

Net Worth

1.56

 

Key Ratios

 

Current Ratio

1.04

Acid Test

0.94

Debt Gearing

48.00

 

 

Registered No.(UK)

 

04113211

 

1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1

2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1

 

 

Corporate Overview

 

 

Location
Link House
553 High Road
Wembley, HA0 2DW
Middlesex County
United Kingdom

 

 

 

www.ultratest.com

Sales USD(mil):

14.5

Assets USD(mil):

5.6

Employees:

NA

Fiscal Year End:

30-Nov-2011

 

 

 

Industry:

Personal Services

Registered Address:
Link House
553 High Road
Wembley, HA0 2DW
United Kingdom

 

Incorporation Date:

23-Nov-2000

Company Type:

Private Subsidiary

Quoted Status:

Not Quoted

Registered No.(UK):

04113211

 

Secretary:

Hardeep Beri

 

Industry Codes

 

ANZSIC 2006 Codes:

9539

-

Other Personal Services Not Elsewhere Classified

 

NACE 2002 Codes:

9305

-

Other service activities not elsewhere classified

 

NAICS 2002 Codes:

8129

-

Other Personal Services

 

US SIC 1987:

7299

-

Miscellaneous Personal Services, Not Elsewhere Classified

 

UK SIC 2003:

9305

-

Other service activities not elsewhere classified

 

UK SIC 2007:

9609

-

Other personal service activities n.e.c.

 

Business Description

Ultratest Systems Ltd. is a privately-owned business providing marketing tools and instrumentation for the semiconductor industry in the United Kingdom. The company provides marketing tools for testing and analysis of integrated circuit devices in the form of wafers. It offers instruments ranging from automated testers for packaged devices, as well as in-circuit testers. The company offers various capabilities, including curve tracing, parametric testing and latch-up testing, curve tracing and precision and cross-section kit. (Updated by OneSource Information Services)

 

 

 

 

 

More Business Descriptions

Ultra Test International was purchased by Robson Technologies Inc. in June 2008. RTI continues to offer Curve Tracing Equipment and product support for MegaTrace, MultiTrace and AutoTrace automatic curve tracers

Financial Data

Financials in:

USD(mil)

 

Revenue:

14.5

Net Income:

0.2

Assets:

5.6

Current Assets:

3.5

 

Fixed Assets:

2.2

 

Long Term Debt:

0.7

 

Total Liabilities:

4.1

 

Issued Capital:

NaN

 

Working Capital:

0.1

 

Net Worth:

1.6

 

 

 

Date of Financial Data:

30-Nov-2011

 

1 Year Growth

-73.3%

NA

NA

 

Key Corporate Relationships

Auditor:

Moti And Co London Ltd

Bank:

Bnp Paribas (Suisse) Sa

 

Auditor:

Moti And Co London Ltd

 

Auditor History

Moti And Co London Ltd

30-Nov-2011

Moti And Co London Ltd

30-Nov-2010

Moti And Co

30-Nov-2009

Moti And Co

30-Nov-2008

Moti And Co

30-Nov-2007

 

 

 

USD(mil)

Audit Fees:

0.0

Audit Fiscal Year:

11-30-2011

 

 

 

 

 

Corporate Structure News:

 

Ultratest Systems Ltd.

Ultratest Systems Ltd.
Total Corporate Family Members: 3

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Stellmont Holding Ltd.

Parent

 

 

 

 

 

 

Steel Mont Trading Ltd

Subsidiary

Milton Keynes

United Kingdom

Miscellaneous Capital Goods

0.1

 

 

Ultratest Systems Ltd.

Subsidiary

Wembley

United Kingdom

Personal Services

14.5

 

 

 

 

 

 

Executives Report



 

Executives

 

Name

Title

Function

Source

Hardeep Beri

 

Secretary

Company Secretary

Experian Ltd.

 

Directors and Shareholders Report

Main Office Address:
Link House
553 High Road
Wembley
United Kingdom HA0 2DW

URL: http://www.ultratest.com

Annual Return Date: 23 Nov 2012

 

Individual Directors

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Rajesh Kumar
Saraiya

Previous

19 Jan 1969

Flat 18, Street Douzhenko-14/1,
Kiev

08 Jan 2001

03 Apr 2013

Current:0
Previous:1
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Hallmark Registrars Limited

Previous

120 East Road,
London , London N1 6AA

23 Nov 2000

08 Jan 2001

 

 

 

 

Individual Secretaries

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Hardeep
Beri

Current

NA

Link House, 553 High Road,
Wembley, Middlesex HA0 2DW

03 Apr 2013

NA

Current:1
Previous:0
Disqualifications:0

 

Mahta
Beri

Previous

NA

Flat 84, Street Gorkova 94/96,
Kiev

08 Jan 2001

10 Jan 2001

Current:0
Previous:1
Disqualifications:0

 

Sanjay
Tyagi

Previous

NA

Flat No 211 89A Prospect Pobedy,
Kiev

10 Jan 2001

01 Oct 2005

Current:0
Previous:1
Disqualifications:0

 

Kasturi
Saraiya

Previous

19 Nov 1965

Flat 18 St. Dovzhemko 14/1,
Kyiv, Kyiv 03057

01 Oct 2005

03 Apr 2013

Current:0
Previous:1
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Hallmark Secretaries Limited

Previous

120 East Road,
London , London N1 6AA

23 Nov 2000

08 Jan 2001

 

 

 

 

Individual Shareholders

There are no individual shareholders for this company.

 

 

 

 

 

 

 

 

 

 

Corporate Shareholders

Company Name

Registration Number

Share Details
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Steel Mont Trading Ltd

05528338

100 Ordinary GBP 1.00

Ordinary

100

1.00

100.00

100.00

 

 

Annual Profit & Loss

 

 

 

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

Financial Glossary

 

 

 

30-Nov-2011

30-Nov-2010

30-Nov-2009

30-Nov-2008

30-Nov-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Turnover (UK)

0.0

0.0

0.0

0.0

0.0

Turnover (Exports)

14.5

54.4

20.5

21.8

40.1

Total Turnover

14.5

54.4

20.5

21.8

40.1

Cost of Sales

13.0

52.9

19.6

20.3

38.5

Gross Profit

1.5

1.6

0.9

1.5

1.5

Depreciation

0.1

0.1

0.0

0.0

0.0

Other Expenses

1.2

0.9

0.8

1.4

1.2

Operating Profit

-

0.7

-

0.1

0.3

Other Income

0.0

0.0

0.0

0.0

0.0

Interest Paid

0.1

0.2

0.0

0.0

0.2

Exceptional Income

0.0

0.0

0.0

0.0

0.0

Discontinued Operations

-

0.0

-

-

-

Profit Before Taxes

0.3

0.5

0.1

0.1

0.2

Tax Payable / Credit

0.1

0.1

0.0

0.0

0.0

Extraordinary Items/Debits

0.0

0.0

0.0

0.0

0.0

Dividends

0.0

0.0

0.0

0.0

0.0

Profit After Taxes

0.2

0.4

0.0

0.1

0.1

Minority Interests (Profit & Loss)

0.0

0.0

0.0

0.0

0.0

Audit Fees

0.0

0.0

0.0

0.0

0.0

Pensions

-

-

-

-

0.0

Directors Emoluments

-

-

-

-

0.1

Other Costs

-

-

-

-

0.0

Directors Remuneration

0.2

0.2

0.2

0.2

0.1

 



 

Annual Balance Sheet

Financials in: USD (mil)

 

Financial Glossary

 

 

 

30-Nov-2011

30-Nov-2010

30-Nov-2009

30-Nov-2008

30-Nov-2007

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate

1

1

1

1

1

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Land & Buildings

0.4

0.4

1.4

1.5

2.0

Fixtures & Fittings

1.1

1.1

0.0

0.0

0.0

Plant & Vehicles

0.2

0.1

-

0.0

0.0

Total Tangible Fixed Assets

1.7

1.5

1.4

1.5

2.0

Intangible Assets

0.0

0.0

0.0

0.0

0.0

Investments

0.5

0.5

0.5

0.5

0.5

Total Fixed Assets

2.2

2.0

1.9

2.0

2.5

Stocks

0.4

1.4

0.0

0.0

0.0

Work in Progress

0.0

0.0

0.0

0.0

0.0

Total Stocks Work In Progress

0.4

1.4

0.0

0.0

0.0

Inter-Company Debtors

-

-

-

0.0

0.0

Director Loans

-

-

-

0.0

0.0

Other Debtors

2.7

4.4

0.6

0.1

0.5

Total Debtors

2.7

4.4

0.6

0.1

0.5

Cash and Equivalents

0.4

0.0

0.0

0.1

0.0

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

3.5

5.9

0.6

0.1

0.5

Total Assets

5.6

7.9

2.6

2.1

3.0

Trade Creditors

0.0

3.1

-

0.0

-

Bank Overdraft

0.0

0.6

0.2

0.0

-

Inter-Company Creditors

0.0

0.0

-

0.0

-

Director Loans (Current Liability)

0.0

0.0

-

0.0

-

Hire Purchase (Current Liability)

0.0

0.0

-

0.0

-

Finance Lease (Current Liability)

0.0

0.0

-

0.0

-

Total Finance Lease/Hire Purchase (Current Liability)

0.0

0.0

-

0.0

-

Total Short Term Loans

3.1

1.3

-

0.0

-

Accruals/Deferred Income (Current Liability)

0.0

0.0

0.0

0.0

0.1

Social Security/VAT

0.0

0.0

-

0.0

-

Corporation Tax

0.2

0.2

0.0

0.1

0.1

Dividends (Current Liability)

0.0

0.0

-

0.0

-

Other Current Liabilities

0.0

0.0

0.1

0.0

0.0

Total Current Liabilities

3.3

5.2

0.3

0.1

0.3

Group Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Director Loans (Long Term Liability)

0.7

1.3

1.2

1.0

1.8

Hire Purchase (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Leasing (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Total Hire Purchase Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Loans

0.0

0.0

0.0

0.0

0.0

Accruals/Deferred Income (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Liabilities

0.0

0.0

0.0

0.0

0.0

Total Long Term Liabilities

0.7

1.3

1.2

1.0

1.8

Deferred Taxation

0.0

0.0

0.0

0.0

0.0

Other Provisions

0.0

0.0

0.0

0.0

0.0

Total Provisions

0.0

0.0

0.0

0.0

0.0

Issued Capital

0.0

0.0

0.0

0.0

0.0

Share Premium Accounts

0.0

0.0

0.0

0.0

0.0

Revaluation Reserve

0.0

0.0

0.0

0.0

0.0

Retained Earnings

1.6

1.4

1.0

0.9

0.9

Other Reserves

0.0

0.0

0.0

0.0

0.0

Minority Interests (Balance Sheet)

0.0

0.0

0.0

0.0

0.0

Total Shareholders Funds

1.6

1.4

1.0

0.9

0.9

Net Worth

1.6

1.4

1.0

0.9

0.9

 

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

Financial Glossary

 

 

 

30-Nov-2011

30-Nov-2010

30-Nov-2009

30-Nov-2008

30-Nov-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Consolidated

No

No

No

No

No

 

 

 

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

 

 

30-Nov-2011

30-Nov-2010

30-Nov-2009

30-Nov-2008

30-Nov-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate

1

1

1

1

1

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

1.04

1.13

1.83

0.95

1.79

Liquidity Ratio

0.94

0.85

1.83

0.95

1.79

Stock Turnover

41.31

37.60

-

-

-

Working Capital by Sales

0.99%

1.24%

1.41%

-0.04%

0.55%

Return on Capital

11.52%

17.24%

2.95%

3.63%

5.53%

Return on Assets

4.72%

5.84%

2.56%

3.37%

5.02%

Profit Margin

1.83%

0.85%

0.32%

0.33%

0.37%

Return on Shareholders Funds

17.04%

34.19%

6.65%

7.56%

16.82%

Borrowing Ratio

248.40%

238.36%

142.54%

108.19%

203.56%

Equity Gearing

27.67%

17.08%

38.43%

44.61%

29.84%

Debt Gearing

48.00%

98.29%

125.23%

108.19%

203.56%

Interest Coverage

3.32

2.38

2.06

5.52

0.75

Sales by Tangible Assets

8.74

36.19

14.22

14.80

20.14

Creditor Days (Cost of Sales Based)

-

21.41

-

-

-

Creditor Days (Sales Based)

-

20.79

-

-

-

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.95

UK Pound

1

Rs.83.80

Euro

1

Rs.70.49

 

 

INFORMATION DETAILS

 

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.