|
Report No. : |
346139 |
|
Report Date : |
28.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
ULTRATEST SYSTEMS LIMITED |
|
|
|
|
Registered Office : |
553link House, High Road, Wembley, Middx HA0 2DW |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
2014 |
|
|
|
|
Date of Incorporation : |
23.11.2000 |
|
|
|
|
Com. Reg. No.: |
04113211 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Exports and imports of steel ferro alloys and chemicals. |
|
|
|
|
No. of Employee : |
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 |
ULTRATEST SYSTEMS LIMITED |
Company Registration Number |
04113211 |
|
Country |
GB |
Number |
UK03764118 |
|
Activity Code |
|
Activity Description |
|
|
Company Status |
Active - Accounts Filed |
Latest Turnover |
0.00 (GBP) |
|
|
|
Latest Shareholders Equity |
943,396.00 (GBP) |
|
BASIC
INFORMATION |
|||
|
Company Name |
ULTRATEST SYSTEMS LIMITED |
Registered Company Name |
ULTRATEST SYSTEMS LIMITED |
|
Company Registration Number |
04113211 |
Country |
GB |
|
VAT Registration Number |
|
VAT Registration Date |
|
|
Date of Company Registration |
23/11/2000 |
Date of Starting Operations |
23/11/2000 |
|
Commercial Court |
|
Legal Form |
Private limited with Share Capital |
|
Type of Ownership |
|
Company Status |
Active - Accounts Filed |
|
Principal Activity Code |
|
Principal Activity Description |
Exports and imports of steel ferro alloys and chemicals. Accounts data
converted from US Dollar. |
|
Contact Address |
553LINK HOUSE, HIGH ROAD, WEMBLEY, MIDDX HA0 2DW |
Contact Telephone Number |
|
|
Address |
553LINK HOUSE, HIGH ROAD, WEMBLEY, MIDDX HA0 2DW |
|
Address |
63 King's Cross Road, London WC1X 9LN |
STEELMONT.CO.UK
|
Name |
Mr Hardeep Beri |
|
Address |
63 Kings Cross Road, London WC1X 9LN |
|
Gender |
Male |
|
Date of Birth |
08/07/1969 |
|
Position |
Director |
|
Date Appointed |
16/04/2013 |
|
Name |
Mr Anil Nigam |
|
Address |
Link House High Road, Wembley, Middlesex HA0 2DW |
|
Gender |
Male |
|
Date of Birth |
02/06/1965 |
|
Position |
Director |
|
Date Appointed |
01/12/2013 |
|
Name |
Mr Hardeep Beri |
|
Address |
63 Kings Cross Road, London WC1X 9LN |
|
Gender |
Male |
|
Position |
Company Secretary |
|
Date Appointed |
03/04/2013 |
|
Name |
Mr Mayank Khaund Saraiya |
|
Address |
63 Kings Cross Road, London WC1X 9LN |
|
Gender |
Male |
|
Position |
Company Secretary |
|
Date Appointed |
01/12/2013 |
|
Issued Share capital |
61,900.00 (GBP) |
|
Name |
STEEL MONT HOLDING LTD (61900 shares of 61900) |
|
Share Percent |
100.00 % |
|
Year |
2014 |
|
Number of Employees |
0 |
|
Year |
2013 |
|
Number of Employees |
0 |
|
Year |
2012 |
|
Number of Employees |
0 |
PROFIT & LOSS
|
Financial Year |
2014 |
2013 |
2012 |
|
Number of Weeks |
52 |
57 |
52 |
|
Currency |
GBP |
GBP |
GBP |
|
Consolidated Accounts |
False |
False |
False |
|
Revenue |
0 |
0 |
0 |
|
Operating Costs |
|
|
|
|
Operating Profit |
|
|
|
|
Wages & Salaries |
0 |
0 |
0 |
|
Pension Costs |
0 |
0 |
0 |
|
Depreciation |
51,021 |
122,848 |
38,397 |
|
Amortisation |
0 |
0 |
0 |
|
Financial Income |
|
|
|
|
Financial Expenses |
|
|
|
|
Extraordinary Income |
|
|
|
|
Extraordinary Costs |
|
|
|
|
Profit Before Tax |
0 |
0 |
0 |
|
Tax |
|
|
|
|
Profit After Tax |
|
|
|
|
Dividends |
|
|
|
|
Minority Interests |
|
|
|
|
Other Appropriations |
0 |
0 |
0 |
|
Retained Profit |
|
|
|
BALANCE SHEET
|
Financial Year |
2014 |
2013 |
2012 |
|
Number of Weeks |
52 |
57 |
52 |
|
Currency |
GBP |
GBP |
GBP |
|
Consolidated Accounts |
False |
False |
False |
|
Total Tangible Assets |
881,580 |
930,925 |
982,610 |
|
Total Intangible Assets |
0 |
0 |
0 |
|
Total Other Fixed Assets |
6,599 |
1 |
308,676 |
|
Total Fixed Assets |
888,179 |
930,926 |
1,291,286 |
|
Total Inventories |
0 |
0 |
523,387 |
|
Trade Receivables |
3,576,271 |
8,112,845 |
4,393,095 |
|
Miscellaneous Receivables |
0 |
0 |
0 |
|
Total Receivables |
3,576,271 |
8,112,845 |
4,393,095 |
|
Cash |
607,785 |
318,377 |
399,485 |
|
Other Current Assets |
0 |
18,462 |
0 |
|
Total Current Assets |
4,184,056 |
8,449,684 |
5,315,967 |
|
Total Assets |
5,072,235 |
9,380,610 |
6,607,253 |
|
Trade Payables |
71,705 |
6,906,865 |
1,655,834 |
|
Bank Liabilities |
0 |
0 |
0 |
|
Other Loans/Finance |
0 |
0 |
0 |
|
Miscellaneous Liabilities |
0 |
0 |
0 |
|
Total Current Liabilities |
71,705 |
6,906,865 |
1,655,834 |
|
Bank Liabilities due after 1 year |
0 |
0 |
0 |
|
Other Loans/Finance due after 1 year |
0 |
0 |
0 |
|
Miscellaneous Liabilities due |
4,057,134 |
1,498,124 |
3,791,535 |
|
after 1 year |
|
|
|
|
Total Long Term Liabilities |
4,057,134 |
1,498,124 |
3,791,535 |
|
Total Liabilities |
4,128,839 |
8,404,989 |
5,447,369 |
|
Called Up Share Capital |
63,327 |
63,327 |
113 |
|
Revenue Reserves |
877,018 |
909,243 |
1,159,771 |
|
Other Reserves |
3,051 |
3,051 |
0 |
|
Total Shareholders Equity |
943,396 |
975,621 |
1,159,884 |
|
Other Financials |
|
|
|
|
Contingent Liabilities |
No |
No |
No |
|
Working Capital |
4,112,352 |
1,542,819 |
3,660,133 |
|
Net Worth |
943,396 |
975,621 |
1,159,884 |
RATIOS
|
Sales/Net Working Capital |
0.00 |
0.00 |
0.00 |
|
Debtor Days |
0.00 |
0.00 |
0.00 |
|
Creditor Days |
0.00 |
0.00 |
0.00 |
|
Current Ratio |
58.35 |
1.22 |
3.21 |
|
Liquidity Ratio/Acid Test |
58.35 |
1.22 |
2.89 |
|
Current Debt Ratio |
0.07 |
7.07 |
1.42 |
|
Gearing |
430.06 |
153.56 |
326.89 |
|
Equity in Percentage |
18.60 |
10.40 |
17.55 |
|
Total Debt Ratio |
4.37 |
8.61 |
4.69 |
Company History
|
Date |
01/10/2015 |
|
Event Description |
New Accounts Filed |
|
Date |
01/10/2015 |
|
Event Description |
New Accounts Filed |
|
Date |
07/07/2015 |
|
Event Description |
Mr M.U. Rahman has left the board |
|
Date |
24/06/2015 |
|
Event Description |
Annual Returns |
|
Date |
20/06/2015 |
|
Event Description |
Annual Returns |
|
Date |
29/04/2015 |
|
Event Description |
Change in Reg.Office |
|
Date |
10/04/2015 |
|
Event Description |
Change of Company Postcode |
|
Date |
10/04/2015 |
|
Event Description |
Change in Reg.Office |
|
Date |
30/01/2015 |
|
Event Description |
Annual Returns |
|
Date |
04/10/2014 |
|
Event Description |
New Accounts Filed |
|
Date |
04/10/2014 |
|
Event Description |
New Accounts Filed |
|
Date |
23/07/2014 |
|
Event Description |
New Board Member Mr M. Rahman appointed |
|
Date |
06/03/2014 |
|
Event Description |
New Board Member Mr A. Nigham appointed |
|
Date |
06/03/2014 |
|
Event Description |
New Company Secretary Mr M.K. Saraiya appointed |
|
Date |
21/02/2014 |
|
Event Description |
Annual Returns |
|
Date |
30/08/2013 |
|
Event Description |
New Accounts Filed |
|
Date |
30/08/2013 |
|
Event Description |
New Accounts Filed |
|
Date |
19/07/2013 |
|
Event Description |
New Board Member Mr H. Beri appointed |
|
Date |
18/04/2013 |
|
Event Description |
New Company Secretary Mr H. Beri appointed |
|
Date |
18/04/2013 |
|
Event Description |
Mr R.K. Saraiya has left the board |
|
Date |
18/04/2013 |
|
Event Description |
K. Saraiya has resigned as company secretary |
|
Date |
10/12/2012 |
|
Event Description |
Annual Returns |
|
Date |
27/07/2012 |
|
Event Description |
New Accounts Filed |
|
Date |
27/07/2012 |
|
Event Description |
New Accounts Filed |
|
Date |
30/11/2011 |
|
Event Description |
Annual Returns |
|
Date |
01/08/2011 |
|
Event Description |
New Accounts Filed |
|
Date |
01/08/2011 |
|
Event Description |
New Accounts Filed |
|
Date |
07/12/2010 |
|
Event Description |
Annual Returns |
|
Mortgage Summary |
|
|
Outstanding |
3 |
|
Satisfied |
0 |
|
Mortgage Details |
|
|
Mortgage Type |
trade finance security deed |
|
Date Charge Created |
26/10/2012 |
|
Date Charge Registered |
30/10/2012 |
|
Date Charge Satisfied |
|
|
Status |
Outstanding |
|
Persons Entitled |
banque cantonale vaudoise |
|
Amount Secured |
all monies due or to become due from the company (and ultratest
systems ltd, and amber development corp., and tarwada international steel
manufacturing llc, and steel mont gmbh) to the chargee under the terms of the
aforementioned instrument creating or evidencing the charge |
|
Details |
fixed charge over all its rights title and interest in and to assigned
receivables,the pledged good and the pledged documents see image for full
details |
|
Mortgage Type |
trade finance security deed |
|
Date Charge Created |
02/08/2011 |
|
Date Charge Registered |
04/08/2011 |
|
Date Charge Satisfied |
|
|
Status |
Outstanding |
|
Persons Entitled |
banque cantonale vaudoise |
|
Amount Secured |
all sums due or to become due under theterms of the aforementioned
instrument creating or evidencing the charge |
|
Details |
fixed charge over all its rights title and interest in and to assigned
receivables,the pledged good and the pledged |
|
|
documents see image for full details |
|
Mortgage Type |
trade finance security agreement |
|
Date Charge Created |
07/02/2002 |
|
Date Charge Registered |
12/02/2002 |
|
Date Charge Satisfied |
|
|
Status |
Outstanding |
|
Persons Entitled |
bnp paribas (suisse) s.a. |
|
Amount Secured |
all monies due or to become due from the company to the chargee under
the termsof the aforementioned instrument |
|
|
creating or evidencing the charge |
|
Details |
all monies,receivables and insurances by virtue of the trade finance
agreement and all rights,title and interest thereo; all |
|
|
policies nd contracts of insurance,all goods,etc see the mortgage
charge document for full details |
|
Year End Date |
31/12/2014 |
Export |
|
Cost of Sales |
|
Directors Emoluments |
|
Revaluation Reserve |
0.00 (GBP) |
Gross Profit |
|
Year End Date |
31/12/2013 |
Export |
|
Cost of Sales |
|
Directors Emoluments |
|
Revaluation Reserve |
0.00 (GBP) |
Gross Profit |
|
Year End Date |
30/11/2012 |
Export |
|
Cost of Sales |
|
Directors Emoluments |
|
Revaluation Reserve |
0.00 (GBP) |
Gross Profit |
|
This company has been treated as a Small company in respect of the
rating/limit generated. |
Neutral |
|
The latest Balance Sheet indicates a very positive net working capital
position. |
Positive |
|
There has been a reduction in shareholders funds compared with the
previous balance sheet. |
Negative |
|
This company trades in an industry with a moderate level of corporate
failures. |
Neutral |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.96 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.71.84 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.