MIRA INFORM REPORT

 

 

Report Date :

26.07.2007

 

IDENTIFICATION DETAILS

 

Name :

TECHNOLOGIES LSI (EUROPE) LIMITED

 

 

Registered Office :

Unit 2K, St. Marks Industrial Estate, 439 North Woolwich Road, London, E 16 2BS

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.08.2006

 

 

Date of Incorporation :

24.01.1995

 

 

Com. Reg. No.:

03013149

 

 

Legal Form :

Private Limited Liability Company (GB)

 

 

Line of Business :

Laser printing solutions. Subject supplies laser printers, offers technical support and maintenance.   

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

                                                  

 

Company Identification Details

 

 

Subject Reported on

TECHNOLOGIC L.S.I. (EUROPE) LIMITED

Holding Company

Technologic Group Ltd

Ultimate Holding Company

TECHNOLOGIC GROUP LTD

Trading Address

UNIT 2K, ST MARK'S INDUST EST,439 NORTH WOOLWICH RD,LONDON,E16 2BS

 

 

 

Risk Score

65 out of 100

 

 

Low Risk - There is a high degree of confidence this company will prove good for the assigned Credit Limit

 

 

 

 

Credit Limit

GBP   6,300

 

 

Selling to this company? The Credit Limit is the recommended maximum outstanding debtor exposure at any one time.

 

 

 

 

Contract Limit

GBP   66,100

 

 

Buying from this company? The Contract Limit is the recommended aggregate annual value for supply contracts.

 

 

Official Company Data

 

 

Legal Form

Private Limited Liability Company (GB)

Registration Number

03013149

Date of Incorporation

24/01/1995

Registered Office

82C East Hill, Colchester Essex CO1 2QW

Date of Last Annual Return to Registry

24/01/2007

Activities

Laser printing solutions. Subject supplies laser printers, offers technical support and maintenance.   

Accounts

The last filed accounts cover the period to 31/08/2006 and were filed on 19/03/2007

 

 

Recently Filed Documents

 

Details of the most recent documents

Date Received

Description

24/01/2007

Annual Return

31/08/2006

Financial Statement / Set of Accounts

 

 

It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.

 

 

Known Directors

                                                  

DIRECTOR                                   ANTHONY LEWIS LYNCH

Occupation                                 MANAGING DIRECTOR

Address                                       6, ADMIRALS COURT HORSELYDOWN LANE, LONDON, SE1 2LJ

Country of Origin                        BRITISH

Date of Birth                                12/03/1968

Appointment Date                       24/01/1995

Other Appointments                    TECHNOLOGIC L.S.I. (EUROPE) LIMITED, LYNCH CONSULTING 

                                                   LIMITED, CRAWFORD DIGITAL LIMITED, TECHNOLOGIC COLOUR

                                                   LIMITED, SPOKEN-PODCAST LIMITED, SPOKEN GROUP LIMITED

 

 

SECRETARY

 

Name                                          MR STEPHEN CRAWFORD

Address                                       27 WORRIN ROAD, LITTLE DUNMOW, ESSEX , CM6 3F

Country of Origin                        BRITISH

Date of Birth                                18/02/1961

Appointment Date                       31/01/2007

 

 

Recently Resigned Directors (last 3)

 

                                                  

DIRECTOR                                   GAREY MARTIN

Address                                       4, SPRING CLOSE, COLCHESTER, - -

Date of Birth                                14/01/1958

Resignation Date                        06/03/1998

 

DIRECTOR                                   MR BARRY LYNNE

Address                                       4760, LA NORIA, RANCHO SANTE FE, CALIFORNIA, - -

Country of Origin                        US

Resignation Date                        24/01/1996

 

 

Mortgages and Charges

                                                  

Total Registered                         3

Total Outstanding                       1

Total Satisfied                             2

Most Recent Mortgage                18/06/2003

                                                  

 

Date Registered                          26/06/2003

Type                                            395

Date Created                               18/06/2003

Lender                                        BARCLAYS BANK PLC

Secured On                                 ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE

                                                   CHARGEE ON ANY ACCOUNT WHATSOEVER

Details                                         FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL

                                                   PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING

                                                   GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES

                                                   FIXED PLANT AND MACHINERY

Satisfied?                                    No

                                                  

Date Registered                          01/10/2001

Type                                            395

Date Created                               26/09/2001

Lender                                        THE ROYAL BANK OF SCOTLAND plc

Secured On                                 ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE

                                                   CHARGEE ON ANY ACCOUNT WHATSOEVER

Details                                         FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL

                                                   PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING

                                                   GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES

                                                   FIXED PLANT AND MACHINERY

Satisfied?                                    Fully

                                                  

Date Registered                          01/10/2001

Type                                            403A

Date Created                               26/09/2001

Lender                                        THE ROYAL BANK OF SCOTLAND plc

Secured On                                 ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE

                                                   CHARGEE ON ANY ACCOUNT WHATSOEVER

Details                                         FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL

                                                   PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING

                                                   GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES

                                                   FIXED PLANT AND MACHINERY

Satisfied?                                    Fully

                                                  

Date Registered                          25/11/1996

Type                                            403A

Date Created                               18/11/1996

Lender                                        BARCLAYS BANK PLC

Secured On                                 ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE

                                                   CHARGEE ON ANY ACCOUNT WHATSOEVER

Details                                         FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL

                                                   PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING

                                                   GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES

                                                   FIXED PLANT AND MACHINERY

Satisfied?                                    Fully

                                                  

Date Registered                          25/11/1996

Type                                            395

Date Created                               18/11/1996

Lender                                        BARCLAYS BANK PLC

Secured On                                 ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE

                                                   CHARGEE ON ANY ACCOUNT WHATSOEVER

Details                                         FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL

                                                   PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING

                                                   GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES

                                                   FIXED PLANT AND MACHINERY

Satisfied?                                    Fully

 

 

 

Public Record Information

 

Summary of CCJ's/Scottish Decrees

 

There are 1 exact unsatisfied CCJs totalling GBP 202 in the last 72 months

 

Details of most recent CCJ's/Scottish Decrees

 

27/06/2006, a Judgment of "GBP" 202 was made in SOUTHAMPTON court (Case No. 6SO03075) against Technologic L S I (Europe) Ltd, Unit 2K, 439 St Marks Industrial Estate North Woolwich Road, Silvertown, London, LONDON POSTAL, E16 2BS

 

 

Operations

                                                  

Activities                                     Laser printing solutions. Subject supplies laser printers, offers technical

                                                   support and maintenance.   

Sic Code                                     Description

7260                                            Other computer related activities

5245                                            Retail sale of electrical household appliances and radio and television goods

Staff Employed                           22

Auditors                                      Lake Bushells

Auditors Notes                             No Qualification. The Auditors have expressed a clean opinion (i.e. unqualified

                                                   with no referrals) on the latest accounts.

 

 

Financial Data

 

The following figures are shown in units of 000

 

 

PROFIT AND LOSS

 

 

Number of Weeks

52

52

52

52

Accounts Date

31/08/2006

31/08/2005

31/08/2004

31/08/2003

Currency

GBP

GBP

GBP

GBP

Consolidated?

No

No

No

No

RETAINED PROFITS

-

-

-

-

 

 

 

BALANCE SHEET

 

 

Number of Weeks

52

52

52

52

Accounts Date

31/08/2006

31/08/2005

31/08/2004

31/08/2003

Currency

GBP

GBP

GBP

GBP

Consolidated?

No

No

No

No

TOTAL FIXED ASSETS

72

87

67

98

 Total Fixed Assets

72

87

67

98

TOTAL CURRENT ASSETS

613

578

494

770

 Stocks

90

149

76

206

 Trade Debtors

520

410

418

564

 Cash

2

19

0

1

TOTAL ASSETS

685

665

561

868

TOTAL CURRENT LIABILITIES

589

553

404

723

 Other Current Liabilities

589

553

404

723

WORKING CAPITAL

24

25

90

47

TOTAL LONG TERM LIABS

10

32

0

0

 Other Long Term Liabilities

10

32

-

-

NET ASSETS/(LIABILITIES)

96

112

158

145

SHARE CAPITAL + RESERVES

85

80

157

145

 Issued Share Capital

1

1

1

1

 Profit and Loss account

84

79

156

144

SHAREHOLDERS FUNDS

85

80

157

145

CAPITAL EMPLOYED

95

112

157

145

TANGIBLE NET WORTH

85

80

158

145

 

 

 

KEY CREDIT RATIOS

 

 

Accounts Date

31/08/2006

31/08/2005

31/08/2004

31/08/2003

Current Ratio

1.04

1.05

1.22

1.07

Quick Ratio

-

-

-

-

T.N.W/Total Assets

0.12

0.12

0.28

0.17

Equity Gearing

0.09

0.03

-

-

 

 

 

Financial Summary

 

Working Capital           The Company’s working capital decreased in the period by 4%

Tangible Net Worth     Net worth increased by 5,000 during the period and now stands at GBP 85,000

Fixed Assets                The subjects fixed assets reduced during the period by GBP 15,000 to GBP 72,000 and

                                    are now 11% of total assets compared with 13% in the previous period

Long Term Liabilities  The Company’s long term liabilities reduced during the period by 69% and are now 12%

                                    of net worth compared with 40% in the previous period

Long Term Liabilities  Long term liabilities are now 1% of total assets compared with 5% in the previous period

 

 

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

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

 

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

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