MIRA INFORM REPORT
|
Report No. : |
343779 |
|
Report Date : |
02.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
SCIENTIFIC VACUUM SYSTEMS LTD |
|
|
|
|
Formerly Known As : |
SCIENTIFIC VACUUM SERVICES LIMITED WARLINSTAR LIMITED |
|
|
|
|
Registered Office : |
12 Weller Drive Hogwood Lane Finchampstead Wokingham RG40 4QZ |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
30.09.2014 |
|
|
|
|
Date of Incorporation : |
11.09.1990 |
|
|
|
|
Com. Reg. No.: |
02538608 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Design, manufacture, assembly and servicing of high vacuum deposit systems. |
|
|
|
|
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 : |
Small Company |
|
|
|
|
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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 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 and 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 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. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. 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 20% by 2015. However, the deficit still remains one of the highest in the G7, standing at 6.0% in 2014.
In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.7% and in 2014, 2.6%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.
The Bank of England (BoE) implemented an asset purchase program of �375 billion (approximately $586 billion) as of December 2014. 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).
|
Source
: CIA |
Company
Name
SCIENTIFIC
VACUUM SYSTEMS LTD
Company
No
02538608
Company
Status
Active - Accounts Filed
Registered
Address
|
12 WELLER DRIVE HOGWOOD LANE |
|
FINCHAMPSTEAD |
|
WOKINGHAM |
|
RG40 4QZ |
Company
Summary
|
Registered Address |
12 WELLER DRIVE HOGWOOD |
Trading Address |
11-12 Weller Drive |
|
|
LANE |
|
Finchampstead |
|
|
FINCHAMPSTEAD |
|
Wokingham |
|
|
WOKINGHAM |
|
Berkshire |
|
|
RG40 4QZ |
|
RG40 4QZ |
|
Website Address |
http://www.svs.co.uk |
|
|
|
Telephone Number |
01189731946 |
Fax Number |
|
|
TPS |
No |
FPS |
No |
|
Incorporation Date |
11/09/1990 |
|
|
|
Previous Name |
SCIENTIFIC VACUUM SERVICES LIMITED |
Type |
Private limited with Share Capital |
|
FTSE Index |
- |
Date of Change |
30/10/1998 |
|
Filing Date of Accounts |
12/06/2015 |
Currency |
GBP |
|
Share Capital |
£2 |
SIC07 |
28990 |
|
Charity Number |
- |
|
|
|
SIC07 Description |
MANUFACTURE OF OTHER SPECIAL-PURPOSE MACHINERY N.E.C. |
||
|
Principal Activity |
Design, manufacture, assembly and servicing of high vacuum
deposit systems. |
||
Key
Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder |
Funds Employees |
|
30/09/2014 |
£745,982 |
-£102,662 |
£234,782 |
- |
|
30/09/2013 |
£1,566,376 |
£86,790 |
£367,744 |
- |
|
30/09/2012 |
£1,684,914 |
£364,669 |
£359,788 |
- |
Mortgage
Summary
|
Total Mortgage |
1 |
|
Outstanding |
1 |
|
Satisfied |
0 |
Trade
Debtors / Bad Debt Summary
|
Total Number of Documented
Trade |
0 |
|
Total Value of Documented
Trade |
£0 |
Commentary
|
This
company has been treated as a Small company in respect of the rating/limit
generated. |
|
This
company has only made late payments on a low percentage of invoices. |
|
The
latest Balance Sheet indicates a negative net working capital position. |
|
The
latest cash balances are considered to be low in terms of the overall
outstanding creditor obligations. |
|
There
has been a reduction in shareholders funds compared with the previous balance
sheet. |
|
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 |
0 |
Current
Directors
|
Name |
Philip Arthur Eames |
Date of Birth |
27/04/1962 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
11/09/1991 |
|
|
|
Address |
9 Melksham Close, Lower Earley, Reading, Berkshire, RG6
4AU |
||
|
Name |
Terence Shimell |
Date of Birth |
19/02/1959 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
3 |
Function |
Director |
|
Appointment Date |
11/09/1991 |
|
|
|
Address |
15 Simmonds Crescent, Lower Earley Way, Reading,
Berkshire, RG6 3WF |
||
Current
Company Secretary
|
Name |
Terence Shimell |
Date of Birth |
19/02/1959 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
3 |
Function |
Company Secretary |
|
Appointment Date |
11/09/1991 |
|
|
|
Address |
15 Simmonds Crescent, Lower Earley Way, Reading,
Berkshire, RG6 3WF |
||
Top
20 Shareholders
|
Name |
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
TERENCE SHIMMELL |
GBP |
1 |
ORDINARY |
1 |
50 |
|
PHILIP ARTHUR EAMES |
GBP |
1 |
ORDINARY |
1 |
50 |
Profit
& Loss
|
Date Of Accounts |
30/09/14 |
(%) |
30/09/13 |
(%) |
30/09/12 |
(%) |
30/09/11 |
(%) |
30/09/10 |
|
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
|
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
|
Consolidated A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
|
|
Turnover |
£745,982 |
-52.4% |
£1,566,376 |
-7% |
£1,684,914 |
5.7% |
£1,593,307 |
136.9% |
£672,672 |
|
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Cost of Sales |
£348,624 |
-64.5% |
£982,806 |
10.8% |
£887,241 |
-13.4% |
£1,024,254 |
255.8% |
£287,878 |
|
|
Gross Profit |
£397,358 |
-31.9% |
£583,570 |
-26.8% |
£797,673 |
40.2% |
£569,053 |
47.9% |
£384,794 |
|
|
Wages & Salaries |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Directors Emoluments |
- |
-100% |
£83,684 |
31.5% |
£63,614 |
45% |
£43,880 |
7.5% |
£40,806 |
|
|
Operating Profit |
-£98,510 |
-209.3% |
£90,122 |
-75.6% |
£369,153 |
117.9% |
£169,411 |
394.5% |
£34,257 |
|
|
Depreciation |
£15,154 |
10.4% |
£13,728 |
100.3% |
£6,853 |
47.7% |
£4,639 |
-48.5% |
£9,006 |
|
|
Audit Fees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Interest Payments |
£4,219 |
5.4% |
£4,003 |
-22.1% |
£5,141 |
-40.4% |
£8,626 |
77.5% |
£4,859 |
|
|
Pre Tax Profit |
-£102,662 |
-218.3% |
£86,790 |
-76.2% |
£364,669 |
126.8% |
£160,785 |
446.9% |
£29,398 |
|
|
Taxation |
£5,700 |
-68.6% |
£18,166 |
321.5% |
-£8,200 |
48.1% |
-£15,800 |
- |
- |
|
|
Profit After Tax |
-£96,962 |
-192.4% |
£104,956 |
-70.6% |
£356,469 |
145.9% |
£144,985 |
393.2% |
£29,398 |
|
|
Dividends Payable |
£36,000 |
-62.9% |
£97,000 |
-37.1% |
£154,200 |
101.3% |
£76,600 |
22.8% |
£62,400 |
|
|
Retained Profit |
-£132,962 |
-999.9% |
£7,956 |
-96.1% |
£202,269 |
195.8% |
£68,385 |
307.2% |
-£33,002 |
Balance
Sheet
|
Date Of Accounts |
30/09/14 |
(%) |
30/09/13 |
(%) |
30/09/12 |
(%) |
30/09/11 |
(%) |
30/09/10 |
|
|
|
Tangible Assets |
£247,036 |
-5.1% |
£260,319 |
950.8% |
£24,774 |
131.8% |
£10,688 |
87.8% |
£5,691 |
|
|
Intangible Assets |
0 |
- |
0 |
-100% |
£221,501 |
9.4% |
£202,486 |
8.3% |
£187,018 |
|
|
Total Fixed Assets |
£247,036 |
-5.1% |
£260,319 |
5.7% |
£246,275 |
15.5% |
£213,174 |
10.6% |
£192,709 |
|
|
Stock |
£157,857 |
88.4% |
£83,770 |
-47.8% |
£160,451 |
-34.7% |
£245,640 |
392.2% |
£49,908 |
|
|
Trade Debtors |
£47,545 |
-53% |
£101,100 |
-74.9% |
£403,497 |
-0.1% |
£403,741 |
71.5% |
£235,370 |
|
|
Cash |
£942 |
-99.4% |
£165,091 |
999.9% |
£1,888 |
89.9% |
£994 |
-1.8% |
£1,012 |
|
|
Other Debtors |
£42,132 |
57.7% |
£26,714 |
-60% |
£66,788 |
-61.4% |
£173,044 |
107.5% |
£83,393 |
|
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Current Assets |
£248,476 |
-34% |
£376,675 |
-40.5% |
£632,624 |
-23.2% |
£823,419 |
122.7% |
£369,683 |
|
|
Trade Creditors |
£15,544 |
-78.2% |
£71,356 |
-20.7% |
£90,024 |
-83.6% |
£550,542 |
275.9% |
£146,459 |
|
|
Bank Loans & Overdrafts |
£186,186 |
784.4% |
£21,053 |
-82.6% |
£121,275 |
-42.5% |
£210,864 |
4.3% |
£202,170 |
|
|
Other Short Term Finance |
£36,774 |
999.9% |
£3,299 |
-31.5% |
£4,813 |
-50.9% |
£9,793 |
41.4% |
£6,925 |
|
|
Miscellaneous Current Liabilities |
£20,472 |
-85.9% |
£145,035 |
-38.3% |
£235,139 |
765.7% |
£27,163 |
-76.9% |
£117,704 |
|
|
Total Current Liabilities |
£258,976 |
7.6% |
£240,743 |
-46.6% |
£451,251 |
-43.5% |
£798,362 |
68.7% |
£473,258 |
|
|
Bank Loans & Overdrafts and LTL |
£187,940 |
279.2% |
£49,560 |
-73.8% |
£189,135 |
-35.1% |
£291,576 |
44.2% |
£202,170 |
|
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Long Term Liabilities |
£1,754 |
-93.8% |
£28,507 |
-58% |
£67,860 |
-15.9% |
£80,712 |
- |
0 |
.
Capital
& Reserves
|
Date Of Accounts |
30/09/14 |
(%) |
30/09/13 |
(%) |
30/09/12 |
(%) |
30/09/11 |
(%) |
30/09/10 |
|
|
|
Called Up Share Capital |
£2 |
- |
£2 |
- |
£2 |
- |
£2 |
- |
£2 |
|
|
P & L Account Reserve |
£234,780 |
-36.2% |
£367,742 |
2.2% |
£359,786 |
128.4% |
£157,517 |
76.7% |
£89,132 |
|
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Shareholder Funds |
£234,782 |
-36.2% |
£367,744 |
2.2% |
£359,788 |
128.4% |
£157,519 |
76.7% |
£89,134 |
Other
Financial Items
|
Date Of Accounts |
30/09/14 |
(%) |
30/09/13 |
(%) |
30/09/12 |
(%) |
30/09/11 |
(%) |
30/09/10 |
|
|
|
Net Worth |
£234,782 |
-36.2% |
£367,744 |
165.9% |
£138,287 |
407.5% |
-£44,967 |
54.1% |
-£97,884 |
|
|
Working Capital |
-£10,500 |
-107.7% |
£135,932 |
-25.1% |
£181,373 |
623.8% |
£25,057 |
124.2% |
-£103,575 |
|
|
Total Assets |
£495,512 |
-22.2% |
£636,994 |
-27.5% |
£878,899 |
-15.2% |
£1,036,593 |
84.3% |
£562,392 |
|
|
Total Liabilities |
£260,730 |
-3.2% |
£269,250 |
-48.1% |
£519,111 |
-40.9% |
£879,074 |
85.7% |
£473,258 |
|
|
Net Assets |
£234,782 |
-36.2% |
£367,744 |
2.2% |
£359,788 |
128.4% |
£157,519 |
76.7% |
£89,134 |
Cash
Flow
|
Date Of Accounts |
30/09/14 |
(%) |
30/09/13 |
(%) |
30/09/12 |
(%) |
30/09/11 |
(%) |
30/09/10 |
|
|
|
Net Cashflow from Operations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Net Cashflow before Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Net Cashflow from Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Increase in Cash |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Miscellaneous
|
Date Of Accounts |
30/09/14 |
(%) |
30/09/13 |
(%) |
30/09/12 |
(%) |
30/09/11 |
(%) |
30/09/10 |
|
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
|
|
Capital Employed |
£236,536 |
-40.3% |
£396,251 |
-7.3% |
£427,648 |
79.5% |
£238,231 |
167.3% |
£89,134 |
|
|
Number of Employees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Accountants |
MARK SELDON & CO |
|||||||||
|
Auditors |
||||||||||
|
Auditor Comments |
The company is exempt from audit |
|||||||||
|
Bankers |
NATIONAL WESTMINSTER BANK PLC |
|||||||||
|
Bank Branch Code |
60-24-21 |
|||||||||
Ratios
|
Date Of Accounts |
30/09/14 |
30/09/13 |
30/09/12 |
30/09/11 |
30/09/10 |
|
|
|
Pre-tax profit margin % |
-13.76 |
5.54 |
21.64 |
10.09 |
4.37 |
|
|
Current ratio |
0.96 |
1.56 |
1.40 |
1.03 |
0.78 |
|
|
Sales/Net Working Capital |
-71.05 |
11.52 |
9.29 |
63.59 |
-6.49 |
|
|
Gearing % |
80 |
13.50 |
52.60 |
185.10 |
226.80 |
|
|
Equity in % |
47.40 |
57.70 |
54.70 |
18.90 |
23.70 |
|
|
Creditor Days |
7.58 |
16.58 |
19.44 |
125.77 |
79.25 |
|
|
Debtor Days |
23.19 |
23.49 |
87.16 |
92.23 |
127.36 |
|
|
Liquidity/Acid Test |
0.34 |
1.21 |
1.04 |
0.72 |
0.67 |
|
|
Return On Capital Employed % |
-43.40 |
21.90 |
85.27 |
67.49 |
32.98 |
|
|
Return On Total Assets Employed % |
-20.71 |
13.62 |
41.49 |
15.51 |
5.22 |
|
|
Current Debt Ratio |
1.10 |
0.65 |
1.25 |
5.06 |
5.30 |
|
|
Total Debt Ratio |
1.11 |
0.73 |
1.44 |
5.58 |
5.30 |
|
|
Stock Turnover Ratio % |
21.16 |
5.34 |
9.52 |
15.41 |
7.41 |
|
|
Return on Net Assets Employed % |
-43.72 |
23.60 |
101.35 |
102.07 |
32.98 |
Report
Notes
There are no notes to display.
Status
History
No Status History found
*Event
History
|
Date |
Description |
|
25/09/2015 |
Annual
Returns |
|
23/06/2015 |
New
Accounts Filed |
|
19/09/2014 |
Annual
Returns |
|
02/07/2014 |
New
Accounts Filed |
|
02/07/2014 |
New
Accounts Filed |
|
28/09/2013 |
Annual
Returns |
|
16/04/2013 |
New
Accounts Filed |
|
21/09/2012 |
Annual
Returns |
|
19/03/2012 |
New
Accounts Filed |
|
30/09/2011 |
Annual
Returns |
|
29/09/2011 |
Annual
Returns |
|
30/03/2011 |
New
Accounts Filed |
|
27/09/2010 |
Annual
Returns |
|
28/01/2010 |
New
Accounts Filed |
|
28/01/2010 |
New
Accounts Filed |
Previous
Company Names
|
Date |
Previous
Name |
|
30/10/1998 |
SCIENTIFIC
VACUUM SERVICES LIMITED |
|
08/10/1990 |
WARLINSTAR
LIMITED |
Writ
Details
No writs found
Statistics
|
Group |
-
|
|
Linkages |
0
companies |
|
Countries |
In
0 countries |
Summary
|
Holding
Company
|
-
|
|
Ownership
Status
|
|
|
Ultimate
Holding Company
|
-
|
Group
Structure Full
No
Group Structure
Mortgage
Details
|
Mortgage
Type: |
MORTGAGEDEBENTURE |
||
|
Date
Charge Created: |
16/04/92 |
||
|
Date
Charge Registered: |
07/05/92 |
||
|
Date
Charge Satisfied: |
- |
||
|
Status: |
OUTSTANDING |
||
|
Person(s)
Entitled: |
NATIONAL
WESTMINSTER BANK PLC |
||
|
Amount
Secured: |
ALL
MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT
WHATSOEVER |
||
|
Details: |
A
SPECIFIC EQUITABLE CHARGE OVER ALL FREEHOLD AND LEASEHOLD PROPERTIES AND/OR THE
PROCEEDS OF SALE THEREOF FIXED AND FLOATING CHARGES OVER UNDERTAKING AND ALL
PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS AND THE
BENEFITS OF ANY LICENCES |
||
Previous
Director/Company Secretaries
|
No
Previous Director Details |
|
|
Average
Invoice Value
|
Ł103.43
|
|
Invoices
available
|
132
|
|
Paid
|
131
|
|
Outstanding
|
1
|
|
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 |
52 |
54 |
10 |
7 |
8 |
|
Outstanding |
0 |
1 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.55 |
|
UK Pound |
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
VNT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.