MIRA INFORM REPORT

Report No. :	509558
Report Date :	17.05.2018

IDENTIFICATION DETAILS

Name :	CARL ZEISS MICROSCOPY LIMITED

Formerly Known As :	CARL ZEISS NTS LIMITED

Registered Office :	509 Coldhams Lane Cambridge Cambridgeshire Cb1 3js

Country :	United Kingdom

Financials (as on) :	30.09.2016

Date of Incorporation :	05.05.1995

Com. Reg. No.:	03053545

Legal Form :	Private limited with Share Capital

Line of Business :	· Subject is engaged in manufacture of optical precision instruments. · Manufacture, sale and service of electron microscopes and related components and assemblies.

No. of Employees :	105

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+	Low Risk	Business dealings permissible with low risk of default

Status :	Good

Payment Behaviour :	No Complaints

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

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

Company Name : CARL ZEISS MICROSCOPY LIMITED

Company No : 03053545

Company Status : Active - Accounts Filed

Registered Address : 509 COLDHAMS LANECAMBRIDGECAMBRIDGESHIRECB1 3JS

Company Summary

Registered Address 509 COLDHAMS LANE
CAMBRIDGE
CAMBRIDGESHIRE
CB1 3JS

Trading Address 509 Coldhams Lane
Cambridge
Cambridgeshire
CB1 3JS

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

Telephone Number 01223414166

Fax Number

TPS No

FPS Yes

Incorporation Date 05/05/1995

Previous Name CARL ZEISS NTS LIMITED

Type Private limited with Share Capital

FTSE Index –

Date of Change 02/04/2012

Filing Date of Accounts 16/05/2017

Currency GBP

Share Capital £2,700,000

SIC07 26701

Charity Number –

SIC07 Description MANUFACTURE OF OPTICAL PRECISION INSTRUMENTS

Principal Activity The manufacture, sale and service of electron microscopes and related components and assemblies.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company CARL ZEISS AG

Accountant –

Mortgages 0

Group 15 companies

Linkages 336 companies

Countries In 17 countries

Key Financials

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

30/09/2016 £37,118,000 £4,155,000 £15,691,000 105

30/09/2015 £40,085,000 £4,659,000 £18,421,000 103

30/09/2014 £38,698,000 £6,025,000 £18,549,000 97

Mortgage Summary

Total Mortgage 0

Outstanding 0

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 Large company in respect of the rating/limit generated.

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 -	-

Current Directors

Title	Mr	Function	Director
Name	Robert Taylor	Nationality	British
Date of Birth	05/1957	Present Appointments	2
Latest Address	509 Coldhams Lane, Cambridge, Cambridgeshire	Appointment Date	12/11/2007
Post Code	CB1 3JS
Title	Mr	Function	Director
Name	Allister McBride	Nationality	British
Date of Birth	03/1967	Present Appointments	1
Latest Address	509 Coldhams Lane, Cambridge, Cambridgeshire	Appointment Date	12/11/2007
Post Code	CB1 3JS

Title	Mr	Function	Director
Name	Paul Adderley	Nationality	British
Date of Birth	02/1965	Present Appointments	1
Latest Address	509 Coldhams Lane, Cambridge, Cambridgeshire	Appointment Date	27/03/2015
Post Code	CB1 3JS
Title	Mr	Function	Director
Name	Michael Albiez	Nationality	German
Date of Birth	09/1976	Present Appointments	1
Latest Address	509 Coldhams Lane, Cambridge, Cambridgeshire	Appointment Date	07/09/2017
Post Code	CB1 3JS

Current Company Secretary

Title	Mr	Function	Company Secretary
Name	Vincent Paul Lynch	Nationality	British
Date of Birth	03/1963	Present Appointments	2
Latest Address	509 Coldhams Lane, Cambridge, Cambridgeshire	Appointment Date	02/07/2009
Post Code	CB1 3JS

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
CARL ZEISS MICROSCOPY GMBH	GBP	2,700,000	ORDINARY	1	100

Financials

Profit & Loss

Date Of Accounts	30/09/16	(%)	30/09/15	(%)	30/09/14	(%)	30/09/13	(%)	30/09/12
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£37,118,000	-7.4%	£40,085,000	3.6%	£38,698,000	16.7%	£33,167,000	-11.4%	£37,453,000
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages & Salaries	£5,075,000	2.4%	£4,955,000	4.8%	£4,728,000	9.6%	£4,312,000	33.2%	£3,237,000
Directors Emoluments	£322,000	13%	£285,000	-2.7%	£293,000	7.7%	£272,000	2.6%	£265,000
Operating Profit	£6,078,000	1%	£6,016,000	2.9%	£5,849,000	38.3%	£4,228,000	-32.5%	£6,268,000
Depreciation	£406,000	-2.6%	£417,000	34.1%	£311,000	-34.2%	£473,000	76.5%	£268,000
Audit Fees	£16,000	-	£16,000	-5.9%	£17,000	-39.3%	£28,000	-6.7%	£30,000
Interest Payments	£93,000	-18.4%	£114,000	-85.6%	£792,000	6.6%	£743,000	-15.9%	£883,000
Pre Tax Profit	£4,155,000	-10.8%	£4,659,000	-22.7%	£6,025,000	42%	£4,244,000	-30.9%	£6,138,000
Taxation	-£865,000	7.4%	-£934,000	19%	-£1,153,000	2.6%	-£1,184,000	32.4%	-£1,752,000
Profit After Tax	£3,290,000	-11.7%	£3,725,000	-23.5%	£4,872,000	59.2%	£3,060,000	-30.2%	£4,386,000
Dividends Payable	£3,500,000	-	£3,500,000	6.1%	£3,300,000	-	-	-	-
Retained Profit	-£210,000	-193.3%	£225,000	-85.7%	£1,572,000	-48.6%	£3,060,000	-30.2%	£4,386,000

Balance Sheet

Date Of Accounts	30/09/16	(%)	30/09/15	(%)	30/09/14	(%)	30/09/13	(%)	30/09/12
Tangible Assets	£1,452,000	-14%	£1,688,000	7.2%	£1,574,000	37.6%	£1,144,000	19.5%	£957,000
Intangible Assets	£18,000	-60.9%	£46,000	-	0	-	0	-	0
Total Fixed Assets	£1,470,000	-15.2%	£1,734,000	10.2%	£1,574,000	37.6%	£1,144,000	19.5%	£957,000
Stock	£7,569,000	33.8%	£5,658,000	-16.7%	£6,794,000	63.4%	£4,157,000	-34.9%	£6,383,000
Trade Debtors	£1,838,000	-36.8%	£2,909,000	21.8%	£2,389,000	-18.4%	£2,928,000	-16%	£3,486,000
Cash	£511,000	-	0	-	0	-	0	-100%	£1,732,000
Other Debtors	£15,984,000	-14%	£18,577,000	8.2%	£17,172,000	-4.8%	£18,032,000	25.6%	£14,360,000
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£25,902,000	-4.6%	£27,144,000	3%	£26,355,000	4.9%	£25,117,000	-3.3%	£25,961,000
Trade Creditors	£2,739,000	18.4%	£2,314,000	-5.1%	£2,438,000	43.2%	£1,703,000	-31.4%	£2,481,000
Bank Loans & Overdrafts	0	-100%	£787,000	76.1%	£447,000	-19%	£552,000	-	0
Other Short Term Finance	£2,204,000	2.9%	£2,142,000	55.6%	£1,377,000	31.3%	£1,049,000	-55.2%	£2,344,000
Miscellaneous Current Liabilities	£1,340,000	-33.5%	£2,014,000	7.8%	£1,868,000	-12.3%	£2,129,000	-32.2%	£3,141,000
Total Current Liabilities	£6,283,000	-13.4%	£7,257,000	18.4%	£6,130,000	12.8%	£5,433,000	-31.8%	£7,966,000
Bank Loans & Overdrafts and LTL	£5,398,000	35.4%	£3,987,000	7.8%	£3,697,000	-1.1%	£3,737,000	-1.6%	£3,798,000
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£5,398,000	68.7%	£3,200,000	-1.5%	£3,250,000	2%	£3,185,000	-16.1%	£3,798,000

Capital & Reserves

Date Of Accounts	30/09/16	(%)	30/09/15	(%)	30/09/14	(%)	30/09/13	(%)	30/09/12
Called Up Share Capital	£2,700,000	-	£2,700,000	-	£2,700,000	-	£2,700,000	-	£2,700,000
P & L Account Reserve	£11,321,000	-19.4%	£14,051,000	-0.9%	£14,179,000	6.8%	£13,273,000	23.1%	£10,784,000
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	£1,670,000	-	£1,670,000	-	£1,670,000	-	£1,670,000	-	£1,670,000
Shareholder Funds	£15,691,000	-14.8%	£18,421,000	-0.7%	£18,549,000	5.1%	£17,643,000	16.4%	£15,154,000

Other Financial Items

Date Of Accounts	30/09/16	(%)	30/09/15	(%)	30/09/14	(%)	30/09/13	(%)	30/09/12
Net Worth	£15,673,000	-14.7%	£18,375,000	-0.9%	£18,549,000	5.1%	£17,643,000	16.4%	£15,154,000
Working Capital	£19,619,000	-1.3%	£19,887,000	-1.7%	£20,225,000	2.7%	£19,684,000	9.4%	£17,995,000
Total Assets	£27,372,000	-5.2%	£28,878,000	3.4%	£27,929,000	6.4%	£26,261,000	-2.4%	£26,918,000
Total Liabilities	£11,681,000	11.7%	£10,457,000	11.5%	£9,380,000	8.8%	£8,618,000	-26.7%	£11,764,000
Net Assets	£15,691,000	-14.8%	£18,421,000	-0.7%	£18,549,000	5.1%	£17,643,000	16.4%	£15,154,000

Cash Flow

Date Of Accounts	30/09/16	(%)	30/09/15	(%)	30/09/14	(%)	30/09/13	(%)	30/09/12
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	30/09/16	(%)	30/09/15	(%)	30/09/14	(%)	30/09/13	(%)	30/09/12
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£21,089,000	-2.5%	£21,621,000	-0.8%	£21,799,000	4.7%	£20,828,000	9.9%	£18,952,000
Number of Employees	105	1.9%	103	6.2%	97	3.2%	94	9.3%	86
Accountants
Auditors	ERNST & YOUNG LLP
Auditor Comments	The audit report contains no adverse comments

Ratios

Date Of Accounts	30/09/16	30/09/15	30/09/14	30/09/13	30/09/12
Pre-tax profit margin %	11.19	11.62	15.57	12.80	16.39
Current ratio	4.12	3.74	4.30	4.62	3.26
Sales/Net Working Capital	1.89	2.02	1.91	1.68	2.08
Gearing %	34.40	21.60	19.90	21.20	25.10
Equity in %	57.40	63.90	66.40	67.20	56.30
Creditor Days	26.86	21.01	22.93	18.69	24.11
Debtor Days	18.02	26.41	22.47	32.13	33.87
Liquidity/Acid Test	2.91	2.96	3.19	3.85	2.45
Return On Capital Employed %	19.70	21.54	27.63	20.37	32.38
Return On Total Assets Employed %	15.17	16.13	21.57	16.16	22.80
Current Debt Ratio	0.40	0.39	0.33	0.30	0.52
Total Debt Ratio	0.74	0.56	0.50	0.48	0.77
Stock Turnover Ratio %	20.39	14.11	17.55	12.53	17.04
Return on Net Assets Employed %	26.48	25.29	32.48	24.05	40.50

Report Notes

There are no notes to display.

Status History

No Status History found

*Event History

Date	Description
10/05/2018	Confirmation Statement
11/09/2017	Mr M. Weber has left the board
11/09/2017	New Board Member Mr M. Albiez appointed
23/05/2017	New Accounts Filed
23/05/2017	New Accounts Filed
10/05/2017	Confirmation Statement
10/05/2017	Confirmation Statement
11/05/2016	Annual Returns
16/04/2016	New Accounts Filed
16/04/2016	New Accounts Filed
23/02/2016	Payment Data Update Received
11/08/2015	Payment Data Update Received
08/08/2015	Annual Returns
02/08/2015	Annual Returns
30/07/2015	Payment Data Update Received

Previous Company Names

Date	Previous Name
02/04/2012	CARL ZEISS NTS LIMITED
06/02/2012	CARL ZEISS MICROSCOPY LIMITED
31/01/2012	CARL ZEISS NTS LIMITED
20/09/2010	CARL ZEISS SMT LIMITED
21/04/2004	LEO ELECTRON MICROSCOPY LIMITED
02/10/1995	LEICA SEM LIMITED
06/09/1995	TRUSHELFCO (N0.2099) LIMITED

Writ Details

No writs found

Statistics

Group	15 companies
Linkages	336 companies
Countries	In 17 countries

Summary

Holding Company	-
Ownership Status	Wholly Owned
Ultimate Holding Company	CARL ZEISS AG

Group StructureFull

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
CARL ZEISS AG	HRB 501555	30.09.2016	Y	€4,890,167,000
ATLANTIC SAS	N/A	-	-
HYALTECH LTD.	SC222904	30.09.2017	N	£14,940,875
CARL ZEISS NTS GMBH	HRB 501009	-	-
CARL ZEISS MICROSCOP...	03053545	30.09.2016	N	£37,118,000
CARL ZEISS VISION HOLD...	HRB 501590	30.09.2016	N
CARL ZEISS VISION NE...	33151439	30.09.2016	N
SOLA HOLDINGS IREL...	IE258591	30.09.2016	N
CARL ZEISS VISION...	IE060388	30.09.2016	N	€1,810,000
CARL ZEISS VISION SARL	N/A	-	-
CARL ZEISS VISION INTE...	HRB 501573	30.09.2016	N	€216,916,379
CARL ZEISS VISION UK...	02838963	30.09.2017	N	£47,789,000
SILS LIMITED	04289972	30.09.2017	N	£45,960,774
CARL ZEISS BETEILIGUNG...	HRB 501458	-	-
CARL ZEISS LTD	00542141	30.09.2016	N	£72,372,000

Previous Director/Company Secretaries

Name	Current Active Appointments			Previous Appointments	Dissolved Companies
John Michael Woodgate	0			6	2
Maxwell David Pocock	2			9	21
Maxwell David Pocock	2			9	21
Katherine Mary Phillips	1			2	3
Horst Wegener	0			1	1
Ingrid Maria Wilhelmine McKeown	0			21	34
Gordon Malcolm Edge	2			6	29
Peter Hans Grassmann	0			2	1
Nicholas Donald Brodrick	0			1	0
Franz Ferdinand Von Falkenhausen	0			1	0
Markus Rauh	0			1	1
Josef Kotter	0			1	0
Neil Charles McLachlan	0			1	0
Vincent Paul Assini	0			1	0
Deiter Kurz	0			1	0
Gustav Pieper	0			1	0
Michaela Ann Parfitt	1			2	0
Dirk Stenkamp	0			1	0
Daniel Schoch	0			1	0
Dieter Karl Kurz	0			1	0
Robert John Yoder	0			2	0
Robert John Yoder	0			2	0
Raghuvir Bhawanishankar Kalbag	0			3	9
Stefan Guenter Traeger	0			1	1
Peter Kevin Clark	0			1	0
Jan Klaus Hoppe	2			12	23
Hermann Gerlinger	0			1	0
Stefan Mueller	0			1	0
Harry Bauer	0			1	0
Dirk Stenkamp	0			1	0
Markus Gerhard Dilger	0			1	0
Kenneth Thomson	0			1	0
Olaf Demuth	0			1	0
Hermann Gerlinger	0			1	0
Robert Arthur Reeve	0			126	314
TRUSEC LIMITED	11			959	1172
Drusilla Charlotte Jane Rowe	0			244	328
Frank Stietz	0			1	0
Thomas Rohe	0			1	0
Justus Wehmer	0			1	0
Christian Martin	0			1	0
Wilhelm Northemann	0			1	0
Bernhard Ohnesorge	0			1	0
Ulrich Simon	0			2	0
Markus Weber	0			1	0
Total Persons With Significant Control		0	Total Statements			1
Active		0	Active			0
Ceased		0	Ceased			1

Active Persons With Significant Control

No Active Persons With Significant Control To Display

Ceased Persons With Significant Control

No Ceased Persons With Significant Control To Display

Active Statements

No Active Statements To Display

Ceased Statements

Statement	The company knows or has reasonable cause to believe that there is a registrable person in relation to the company but it has not identified the registrable person
Notified On	05/05/2017	Ceased On	28/07/2017
Average Invoice Value			£15326.26
Invoices available			132
Paid			128
Outstanding			4

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	66	42	13	2	5
Outstanding	1	2	1	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.82
UK Pound	1	INR 91.68
Euro	1	INR 80.29
GBP	1	INR 91.70

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	DNS

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.