MIRA INFORM REPORT
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Report Date : |
05.03.2014 |
IDENTIFICATION DETAILS
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Name : |
RDM TEST EQUIPMENT LTD. |
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Formerly Known As : |
Salepart Ltd. |
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Registered Office : |
Unit 39 Golds Nursery Business, Park Jenkins
Drive, Elsenham Bishops
Stortford, Bishops Stortford, CM22 6JX |
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Country : |
United Kingdom |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
12.11.1986 |
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Com. Reg. No.: |
02073214 |
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Legal Form : |
Private
Independent Company |
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Line of Business : |
·
Manufacturer
of other electrical equipment and instruments for measuring ·
Subject
also provide testing consultancy & contract testing services Subject provides testing instruments for packaging, polymers, pulp, paper, board, textiles, rubber, and foam; used in many industries including food & beverage, medical devices & pharmaceuticals, inks, printing & coating, electronic, industrial and educational establishments. |
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Subject product range includes :- · Laboratory & Production Heat Sealers · Co-Efficient of Friction Testing · Paper, Pulp and Board Testing · Leak / Burst Package Integrity · Balances |
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No. of Employees |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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United Kingdom |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
Company name & address
Rdm Test Equipment Ltd.
Unit 39 Golds
Nurseries Busine
Jenkins Drive
Elsenham
Bishops
Stortford, CM22 6JX
United Kingdom
Tel: 01279817171
Fax: 01279815743
Web www.rdmtest.com
synthesis
Employees: NA
Company Type: Private Independent
Quoted Status: Non-quoted
Company
Incorporation
Date: 12-Nov-1986
Auditor: Rp Accounting
Financials in: USD (Millions)
Fiscal Year End: 31-Mar-2013
Reporting
Currency: British Pound Sterling
Annual Sales: NA
Total Assets: 0.6
Business Description
·
Manufacturer
of other electrical equipment and instruments for measuring
·
Subject
also provide testing consultancy & contract testing services
·
Subject provides testing instruments for
packaging, polymers, pulp, paper, board, textiles, rubber, and foam; used in
many industries including food & beverage, medical devices &
pharmaceuticals, inks, printing & coating, electronic, industrial and
educational establishments.
Subject product range includes :-
· Laboratory & Production Heat Sealers
· Co-Efficient of Friction Testing
· Paper, Pulp and Board Testing
· Leak / Burst Package Integrity
· Balances
Industry
Industry
Non-Metallic Mineral Product Manufacturing
ANZSIC 2006:
2029 - Other Ceramic Product Manufacturing
ISIC Rev 4:
2393 - Manufacture of other porcelain and ceramic products
NACE Rev 2:
2344 - Manufacture of other technical ceramic products
NAICS 2012:
327110 - Pottery, Ceramics, and Plumbing Fixture Manufacturing
UK SIC 2007:
2344 - Manufacture of other technical ceramic products
US SIC 1987:
3269 - Pottery Products, Not Elsewhere Classified
Key Executives
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Name |
Title |
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Kathryn Harrigan |
Accounts Manager |
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Michael Charles James |
Director, Secretary |
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Jane Mary James |
Director |
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David John Murrell |
Director |
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Sally Jean Murrell |
Director |
Financial
Summary
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1 - Profit &
Loss Item Exchange Rate: USD 1 = GBP 0.6329098
2 - Balance Sheet
Item Exchange Rate: USD 1 = GBP 0.6591356
Corporate Overview
Location
Unit 39 Golds Nurseries
Busine
Jenkins Drive
Elsenham
Bishops
Stortford, CM22 6JX
Hertfordshire
County
United Kingdom
Tel: 01279817171
Fax: 01279815743
Web: www.rdmtest.com
Sales GBP(mil): NA
Assets GBP(mil): 0.4
Employees: NA
Fiscal Year End: 31-Mar-2013
Industry: Personal and Household
Products
Registered Address:
Unit 39 Golds Nursery Business
Park Jenkins Drive
Elsenham Bishops
Stortford
Bishops
Stortford, CM22 6JX
United Kingdom
Incorporation
Date: 12-Nov-1986
Company Type: Private Independent
Quoted Status: Not Quoted
Previous Name: Salepart Ltd.
Registered
No.(UK): 02073214
Director,
Secretary: Michael Charles James
Industry Codes
ANZSIC 2006
Codes:
2029 - Other Ceramic Product Manufacturing
2419 - Other Professional and Scientific
Equipment Manufacturing
ISIC Rev 4 Codes:
2393 - Manufacture of other porcelain and
ceramic products
2651 - Manufacture of measuring, testing,
navigating and control equipment
NACE Rev 2 Codes:
2344 - Manufacture of other technical ceramic
products
2651 - Manufacture of instruments and
appliances for measuring, testing and navigation
NAICS 2012 Codes:
327110 - Pottery, Ceramics, and Plumbing
Fixture Manufacturing
334513 - Instruments and Related Products
Manufacturing for Measuring, Displaying, and Controlling Industrial Process
Variables
US SIC 1987:
3269 - Pottery Products, Not Elsewhere
Classified
3823 - Industrial Instruments for
Measurement, Display, and Control of Process Variables; and Related Products
UK SIC 2007:
2344 - Manufacture of other technical ceramic
products
2651 - Manufacture of instruments and
appliances for measuring, testing and navigation
Business Description
Manufacture other electrical equipment and
instruments for measuring
More Business Descriptions
Testing Apparatus Manufacturers
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Executives
Report
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Board of Directors |
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Director, Secretary |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives |
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Director, Secretary |
Company Secretary |
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Accounts Manager |
Accounting Executive |
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Directors and Shareholders Report
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Main Office Address: |
Tel: 01279817171 |
Annual Return Date: 07
Jun 2013 |
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Individual Directors |
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Name |
Status |
DOB |
Filed
Address |
Appointment
Date |
Resignation
Date |
Summary
of Directorships |
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Current |
22 Mar 1963 |
4 Drovers Way, St Michaels Mead, |
07 Jun 1991 |
NA |
Current:1 |
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Current |
02 Nov 1960 |
9 Kingsmead Drive, |
07 Jun 1991 |
NA |
Current:2 |
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Current |
28 Feb 1961 |
9 Kingsmead Drive, |
07 Jun 1991 |
NA |
Current:1 |
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Current |
05 Dec 1959 |
4 Drovers Way, St Michaels Mead, |
07 Jun 1991 |
NA |
Current:1 |
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Corporate Directors |
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There are no corporate directors for this company. |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of
Directorships |
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Current |
02 Nov 1960 |
9 Kingsmead Drive, |
07 Jun 1991 |
NA |
Current:2 |
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Corporate Secretaries |
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There are no corporate secretaries for this company. |
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Individual Shareholders |
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Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
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David John Murrell |
450 A Ordinary GBP 1.00 |
A Ordinary |
450 |
1.00 |
450.00 |
45.00 |
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Jane Mary James |
50 B Ordinary GBP 1.00 |
B Ordinary |
50 |
1.00 |
50.00 |
5.00 |
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Michael Charles James |
450 A Ordinary GBP 1.00 |
A Ordinary |
450 |
1.00 |
450.00 |
45.00 |
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Sally Murrell |
50 B Ordinary GBP 1.00 |
B Ordinary |
50 |
1.00 |
50.00 |
5.00 |
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Corporate Shareholders |
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There are no corporate shareholders for this company. |
Annual Profit & Loss
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
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Period
Length |
52
Weeks |
52
Weeks |
52
Weeks |
52
Weeks |
52
Weeks |
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Filed
Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange
Rate (Period Average) |
0.63291 |
0.626752 |
0.643394 |
0.627794 |
0.592803 |
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Consolidated |
No |
No |
No |
No |
No |
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Depreciation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Annual Balance Sheet
Financials in: USD (mil)
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31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
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Filed
Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange
Rate |
0.659136 |
0.628108 |
0.62385 |
0.659239 |
0.697666 |
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Consolidated |
No |
No |
No |
No |
No |
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Total Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Stocks Work In Progress |
0.2 |
0.1 |
0.1 |
0.3 |
0.1 |
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Total Debtors |
0.4 |
0.2 |
0.2 |
0.2 |
0.2 |
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Cash and Equivalents |
0.0 |
0.2 |
0.1 |
0.1 |
0.0 |
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Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
0.6 |
0.5 |
0.5 |
0.5 |
0.3 |
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Total Assets |
0.6 |
0.5 |
0.5 |
0.6 |
0.4 |
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Trade Creditors |
- |
- |
0.2 |
- |
- |
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Social Security/VAT |
- |
- |
0.1 |
- |
- |
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Other Current Liabilities |
0.4 |
0.4 |
0.2 |
0.5 |
0.3 |
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Total Current Liabilities |
0.4 |
0.4 |
0.4 |
0.5 |
0.3 |
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Group Loans (Long Term Liability) |
0.0 |
- |
- |
- |
0.0 |
|
Director Loans (Long Term Liability) |
0.0 |
- |
- |
- |
0.0 |
|
Hire Purchase (Long Term Liability) |
0.0 |
- |
- |
- |
0.0 |
|
Leasing (Long Term Liability) |
0.0 |
- |
- |
- |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
0.0 |
- |
- |
- |
0.0 |
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Other Long Term Loans |
0.0 |
- |
- |
- |
0.0 |
|
Accruals/Deferred Income (Long Term Liability) |
0.0 |
- |
- |
- |
0.0 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Long Term Liabilities |
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 |
0.2 |
0.2 |
0.0 |
0.1 |
0.1 |
|
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 |
0.2 |
0.2 |
0.0 |
0.1 |
0.1 |
|
Net Worth |
0.2 |
0.2 |
0.0 |
0.1 |
0.1 |
Annual Ratios
Financials in: USD (mil)
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
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Period
Length |
52
Weeks |
52
Weeks |
52
Weeks |
52
Weeks |
52
Weeks |
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Filed
Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange
Rate |
0.659136 |
0.628108 |
0.62385 |
0.659239 |
0.697666 |
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Consolidated |
No |
No |
No |
No |
No |
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Current Ratio |
1.38 |
1.40 |
1.08 |
1.17 |
1.19 |
|
Liquidity Ratio |
0.95 |
0.99 |
0.76 |
0.57 |
0.81 |
|
Equity Gearing |
29.67% |
29.44% |
8.84% |
15.40% |
18.65% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.90 |
|
UK Pound |
1 |
Rs.103.26 |
|
Euro |
1 |
Rs.85.14 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
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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 |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.