MIRA INFORM REPORT

Report No. :	510582
Report Date :	24.05.2018

IDENTIFICATION DETAILS

Name :	SOIL INSTRUMENTS LTD
Formerly Known As :	HIGHFIELD GLEN LIMITED
Registered Office :	3rd Floor 1 Ashley Road Altrincham Cheshire Wa14 2dt
Country :	United Kingdom
Financials (as on) :	31.12.2016
Date of Incorporation :	22.02.2012
Com. Reg. No.:	7960087
Legal Form :	Private limited with Share Capital
Line of Business :	· Manufacture Of Electronic Measuring, Testing Etc. Equipment, Not For Industrial Process Control · The company manufactures a world - class range of geotechnical instrumentation for monitoring the safety of all earth, rock and concrete structures and environments from its facility in Uckfield, England. Commenced trading on 23.01.14
No. of Employees :	Not Available

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

C

Credit Rating	Explanation	Rating Comments
C	Medium High Risk	Business dealings permissible preferably on secured basis

Status :	Moderate
Payment Behaviour :	Slow
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	A1	A1

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 SOIL INSTRUMENTS LTD

Company No: 7960087

Registered Address: 3RD FLOOR 1 ASHLEY ROAD ALTRINCHAM CHESHIRE WA14 2DT

Company Summary

Registered Address 3RD FLOOR 1 ASHLEY ROAD
ALTRINCHAM
CHESHIRE
WA14 2DT

Trading Address 3rd Floor 1
Ashley Road
Altrincham
Cheshire
WA14 2DT

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

Telephone Number -

Fax Number

TPS -

FPS Yes

Incorporation Date 22/02/2012

Previous Name HIGHFIELD GLEN LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 23/01/2014

Filing Date of Accounts 28/09/2017

Currency GBP

Share Capital £1

SIC07 26511

Charity Number -

SIC07 Description MANUFACTURE OF ELECTRONIC MEASURING, TESTING ETC. EQUIPMENT, NOT FOR INDUSTRIAL PROCESS CONTROL

Principal Activity The company manufactures a world - class range of geotechnical instrumentation for monitoring the safety of all earth, rock and concrete structures and environments from its facility in Uckfield, England. Commenced trading on 23.01.14.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company NOVA SCIENTIFIC HOLDINGS LLC

Accountant -

Mortgages 6

Group 12 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

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

31/12/2016 - - -£4,115,490 -

31/12/2015 - - -£2,101,292 -

31/12/2014 - - -£967,777 -

Mortgage Summary

Total Mortgage 6

Outstanding 4

Satisfied 2

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

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 negative debt/equity ratio indicates a Balance Sheet deficiency funded by creditors/debt.

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 -	-

Back to Top

Current Directors

Title	Mr	Function	Director
Name	Michael Anthony Larkin	Nationality	American
Date of Birth	02/1962	Present Appointments	7
Latest Address	3rd Floor 1 Ashley Road, Altrincham, Cheshire	Appointment Date	06/11/2014
Post Code	WA14 2DT
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report
Title	Ms	Function	Director
Name	Janet Barbookles	Nationality	American
Date of Birth	07/1978	Present Appointments	1
Latest Address	3rd Floor 1 Ashley Road, Altrincham, Cheshire	Appointment Date	05/11/2014
Post Code	WA14 2DT
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report

Current Company Secretary

Title		Function	Company Secretary
Name	OAKWOOD CORPORATE SECRETARY LIMITED	Nationality	British
Date of Birth	-	Present Appointments	1318
Latest Address	3rd Floor 1 Ashley Road, Altrincham, Cheshire	Appointment Date	08/06/2015
Post Code	WA14 2DT
Other Actions		View Consumer Report	View Trace Report
	View Compliance Report

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
NOVA METRIX (UK) LIMITED	GBP	100	ORDINARY	0.01	100
1

Profit & Loss

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	28/02/14	(%)	28/02/13
	Weeks	52	(%)	52	(%)	44	(%)	52	(%)	53
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
	Turnover	-	-	-	-	-	-	-	-	-
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	-	-	-	-	-	-	-	-	-
	Gross Profit	-	-	-	-	-	-	-	-	-
	Wages & Salaries	-	-	-	-	-	-	-	-	-
	Directors Emoluments	-	-	-	-	-	-	-	-	-
	Operating Profit	-	-	-	-	-	-	-	-	-
	Depreciation	£36,633	31.3%	£27,901	29.4%	£21,565	-	-	-	-
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	28/02/14	(%)	28/02/13
	Tangible Assets	£159,545	38.4%	£115,298	-96.5%	£3,340,040	999.9%	£88,860	-	0
	Intangible Assets	0	-	0	-	0	-100%	£5,002	-	0
	Total Fixed Assets	£159,545	38.4%	£115,298	-96.5%	£3,340,040	999.9%	£93,862	-	0
	Stock	£573,005	-19.1%	£708,198	-1.6%	£719,429	180.4%	£256,563	-	0
	Trade Debtors	£553,329	13.3%	£488,193	-36.9%	£773,749	-0.7%	£778,839	-	0
	Cash	£178,111	1.1%	£176,096	-86.4%	£1,299,428	999.9%	£2,947	-	0
	Other Debtors	£3,473,819	-5.1%	£3,661,802	-	0	-	0	-	0
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£4,778,264	-5.1%	£5,034,289	80.3%	£2,792,606	168.9%	£1,038,349	-	0
	Trade Creditors	£52,608	-66.5%	£156,902	-84%	£981,019	70.9%	£574,036	-	0
	Bank Loans & Overdrafts	£174,933	31.2%	£133,349	-	0	-	0	-	0
	Other Short Term Finance	£6,641,426	31.3%	£5,056,786	-	0	-	0	-	0
	Miscellaneous Current Liabilities	£225,307	35.8%	£165,877	-	0	-	0	-	0
	Total Current Liabilities	£7,094,274	28.7%	£5,512,914	462%	£981,019	70.9%	£574,036	-	0
	Bank Loans & Overdrafts and LTL	£2,133,958	14%	£1,871,314	-69.4%	£6,119,404	999.9%	£542,317	-	0
	Other Long Term Finance	£39,872	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£1,959,025	12.7%	£1,737,965	-71.6%	£6,119,404	999.9%	£542,317	-	0

.

Capital & Reserves

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	28/02/14	(%)	28/02/13
	Called Up Share Capital	£1	-	£1	-	£1	-	£1	-	-
	P & L Account Reserve	-£4,115,491	-95.9%	-£2,101,293	-117.1%	-£967,778	-999.9%	£15,857	-	-
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	-£4,115,490	-95.9%	-£2,101,292	-117.1%	-£967,777	-999.9%	£15,858	-	-

Other Financial Items

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	28/02/14	(%)	28/02/13
	Net Worth	-£4,115,490	-95.9%	-£2,101,292	-117.1%	-£967,777	-999.9%	£10,856	-	-
	Working Capital	-£2,316,010	-383.9%	-£478,625	-126.4%	£1,811,587	290.2%	£464,313	-	-
	Total Assets	£4,937,809	-4.1%	£5,149,587	-16%	£6,132,646	441.7%	£1,132,211	-	-
	Total Liabilities	£9,053,299	24.9%	£7,250,879	2.1%	£7,100,423	536%	£1,116,353	-	-
	Net Assets	-£4,115,490	-95.9%	-£2,101,292	-117.1%	-£967,777	-999.9%	£15,858	-	-

Cash Flow

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	28/02/14	(%)	28/02/13
	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	28/02/14	(%)	28/02/13
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	-£2,156,465	-493.5%	-£363,327	-107.1%	£5,151,627	822.9%	£558,175	-	-
	Number of Employees	-	-	-	-	-	-	-	-	-
	Accountants
	Auditors	DUNKLEY'S
	Auditor Comments	The audit report contains no adverse comments
	Bankers	SILICON VALLEY BANK
	Bank Branch Code	12-34-56

Ratios

	Date Of Accounts	31/12/16	31/12/15	31/12/14	28/02/14	28/02/13
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	0.67	0.91	2.85	1.81	-
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	-51.90	-89.10	-632.30	3419.80	0
	Equity in %	-83.30	-40.80	-15.80	1.40	-
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	0.59	0.78	2.11	1.36	-
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	-1.72	-2.62	-1.01	36.19	-
	Total Debt Ratio	-2.19	-3.45	-7.33	70.39	-
	Stock Turnover Ratio %	-	-	-	-	-
	Return on Net Assets Employed %	-	-	-	-	-

Event History View Documents

Date	Description
03/05/2018	Confirmation Statement
06/12/2017	Payment Data Update Received
09/10/2017	New Accounts Filed
09/10/2017	New Accounts Filed
31/08/2017	Payment Data Update Received
15/07/2017	Payment Data Update Received
15/05/2017	Confirmation Statement
28/12/2016	Annual Returns
06/10/2016	New Accounts Filed
29/04/2016	Annual Returns
16/12/2015	Annual Returns
11/12/2015	Annual Returns
23/11/2015	Annual Returns
18/10/2015	New Accounts Filed
18/10/2015	New Accounts Filed

Previous Company Names

Date	Previous Name
23/01/2014	HIGHFIELD GLEN LIMITED

Statistics

Group	12 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	NOVA METRIX (UK) LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	NOVA SCIENTIFIC HOLDINGS LLC

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
NOVA SCIENTIFIC HOLDINGS...	N/A	-	-
DANTEC DYNAMICS AS	N/A	-	-
DANTEC DYNAMICS LIMITED	01730643	31.12.2016	N
NOVA INSTRUMENTS (LUXE...	N/A	-	-
PHOENIX INSPECTION S...	01718157	31.12.2016	N
TECHNOLOGY DESIGN LI...	03076845	31.12.2016	N
NOVA METRIX (LUX) S A R L	N/A	-	-
SENSORNET LIMITED	03403261	31.12.2016	N
SHERBORNE SENSORS LI...	04477365	31.12.2016	N
NOVA METRIX (LUXEMBOUR...	N/A	-	-
NOVA METRIX (UK) LIM...	09231846	31.12.2016	N
SOIL INSTRUMENTS LTD	07960087	31.12.2016	N

Statistics

Group	12 companies
Linkages	0 companies
Countries	In 0 countries

Mortgage Details

Mortgage Type:
Date Charge Created:	30/11/17
Date Charge Registered:	15/12/17
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	SILICON VALLEY BANK;
Amount Secured:
Details:	PURSUANT TO CLAUSE 3.1.4 OF THE CHARGE THE COMPANY CHARGED BY WAY OF FIRST FIXED CHARGE A TRADEMARK WITH REGISTERED NUMBER 011581949 NAMED ITMSOIL HOLLDING LTD. SEE FURTHER SCHEDULE 5 OF THE CHARGE.PURSUANT TO CHARGE THE COMPANY CHARGED BYWAY OF FIRST LEGAL MORTGAGE ALL ITS REAL PROPERTY (ALTHOUGH NO FURTHER DETAILS ARE SPECIFIED IN THE CHARGE). SEE FURTHER CLAUSE 3.1.1 OF THE CHARGE.CONTAINS FIXED CHARGE.CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.
Mortgage Type:
Date Charge Created:	04/12/15
Date Charge Registered:	10/12/15
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	SILICON VALLEY BANK AS ADMINISTRATIVE AGENT;
Amount Secured:
Details:	N/ACONTAINS FIXED CHARGE.CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.

Mortgage Type:
Date Charge Created:	05/11/14
Date Charge Registered:	13/11/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	SILICON VALLEY BANK AS ADMINISTRATIVE AGENT;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS NEGATIVEPLEDGE.
Mortgage Type:
Date Charge Created:	05/11/14
Date Charge Registered:	13/11/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	SILICON VALLEY BANK AS ADMINISTRATIVE AGENT;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.

Mortgage Type:
Date Charge Created:	26/03/14
Date Charge Registered:	02/04/14
Date Charge Satisfied:	02/12/14
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.
Mortgage Type:
Date Charge Created:	23/01/14
Date Charge Registered:	30/01/14
Date Charge Satisfied:	02/12/14
Status:	SATISFIED
Person(s) Entitled:	JPPC SERVICES LIMITED;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.NOTIFICATION OF ADDITION TO OR AMENDMENT OF CHARGE.

Previous Director/Company Secretaries

Name	Current Active Appointments		Previous Appointments	Dissolved Companies
Jonathan Humphrey Campbell Scott	6		2	12
John David Eastman	0		4	7
Michael Antony Ziolek	2		3	1
THREEV DIRECTORS LLP	0		1	0
LPE SERVICES LIMITED	0		1	0
Jamie Constable	0		1	0
Peter Ward	0		1	0
Sarah Marie Staley	0		28	18
OBS DIRECTORS LLP	0		1	0
Peter Martin Ward	33		22	25
NORTHSIDE COMPANY SECRETARIAL SERVICES LIMITED	170		176	446
Total Persons With Significant Control	1	Total Statements		0
Active	1	Active		0
Ceased	0	Ceased		0

Active Persons With Significant Control

Name	Nova Metrix (Uk) Limited	Kind	Corporate Entity With Significant Control
Address	1 Ashley Road, 3rd Floor, Altrincham, Cheshire	Notified On	06/04/2016
Post Code	WA14 2DT	Legal Form	Limited By Shares
Authority	United Kingdom England Wales	Place Registered	Companies House
Country Registered	England And Wales	Registration Number	09231846
Nature Of Control	Ownership Of Shares 75 To 100 Percent,Voting Rights 75 To 100 Percent,Right To Appoint And Remove Directors

Ceased Persons With Significant Control

No Ceased Persons With Significant Control To Display

Active Statements

No Active Statements To Display

Ceased Statements

No Ceased Statements To Display

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 68.02
UK Pound	1	INR 91.25
Euro	1	INR 80.07
GBP	1	INR 91.28

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

INFORMATION DETAILS

Analysis Done by :	PRI
Report Prepared by :	KET

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.