MIRA INFORM REPORT

 

 

 

Report Date :

16.09.2008

 

IDENTIFICATION DETAILS

 

Name :

SYNERGY CORP LIMITED                            

 

 

Formerly Known as :

SAAR LIMITED

 

 

Registered Office :

94 New Bond Street,  London,  W1S 1SJ

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.07.2006

 

 

Date of Incorporation :

12.11.2002

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

Other Business Activities

Telecommunications

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

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

Small

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

Name of the company

 

SYNERGY CORP LIMITED                            

Number        04587502                                     

 

 

company summary

 

Address                        94 NEW BOND STREET,
LONDON,
W1S 1SJ

Postcode                      W1S 1SJ

Phone

Type                             Private limited with Share Capital

Company Status            Financial Statements too old

Incorporated Date           12/11/2002

 

 

Active CCJ's                  1

Value of CCJ's [£]          £681

Number Of Writs            0

 

Current Directors            3

Total Directorships         6

Trading to Date              31/07/06            31/07/05            31/07/04

Turnover                        -                       £615,836           £467,862

Shareholder Funds         £242,562           £178,689           £139,277

Employees                    -                       -                       -

 

Trends

Profitability

Liquidity

Shareholders Funds

 

 

company information

 

 Registered Address                

 Telephone Number                   

TPS                                         

Address

94 New Bond Street
W1S 1SJ         


Trading Address

Telephone Number

TPS

Address

94 NEW BOND STREET
LONDON
W1S 1SJ

 

 

Web Address

Incorporation Date          12/11/2002

Type of Accounts           Total Exemption Small

Filing Date of Accounts  23/10/2007

 

Company Type              Private Limited With Share Capital

Date of Latest Accounts 31/07/2006

Annual Return                06/12/2007

 

Previous Name(s)

 Changed:                     26/08/2003                    Saar Limited

 

Industry:

Data Mining.

 

SIC Code                                 Description

 7487                                        Other Business Activities

 

Mortgage Charges

Outstanding                   0          Satisfied            0

 

Shareholders

Share Capital                 100000              Currency           Gbp

 

 

Previous Names Details

 

Previous Name(s)

Changed :         26/08/2003        Saar Limited

 

 

 

Secondary Industry Code Details

 

 

 SIC Code        Description

 7487                Other Business Activities

 6420                Telecommunications

 

 

 

Mortgage Details

 

 

Shareholders Details

 

 

 Name                                      Shares

 Sarika Rastogi                          9,990,000 B Gbp 0.01

 Sarika Rastogi                          100 A Gbp 1.00

 

 

Trading Address Details

 

Address                                    Telephone Number         TCPS

94 New Bond Street W1S 1SJ

 

 

accounts

 

Profit & Loss

 

Annual Accounts

08/05-07/06

Change (%)

08/04-07/05

Change (%)

08/03-07/04

 

Months

12

-

12

-

12

 

Currency

GBP

-

GBP

-

GBP

 

Consolidated A/cs

N

-

N

-

N

 

Turnover

-

-

615,836

31.6 %

467,862

 

Export

-

-

-

-

-

 

Cost of Sales

-

-

421,822

28.0 %

329,540

 

Gross Profit

-

-

194,014

40.3 %

138,322

 

Wages & Salaries

-

-

-

-100.0 %

17,992

 

Directors Emoluments

-

-

-

-

-

 

Operating Profits

-

-

47,851

0.3 %

47,699

 

Depreciation

7,060

345.4 %

1,585

18.9 %

1,333

 

Audit Fees

-

-

-

-

-

 

Interest Payments

-

-

-

-100.0 %

516

 

Pre Tax Profit

-

-

48,723

1.9 %

47,823

 

Taxation

-

-

-9,311

-2.3 %

-9,104

 

Profit After Tax

-

-

39,412

1.8 %

38,719

 

Dividends Payable

-

-

-

-

-

 

Retained Profits

-

-

39,412

1.8 %

38,718

 

 

 

 

 

 

 

 

 

 

Balance Sheet

 

Annual Accounts

08/05-07/06

Change (%)

08/04-07/05

Change (%)

08/03-07/04

 

Tangible Assets

11,201

509.7 %

1,837

-31.1 %

2,668

 

Intangible Assets

-

-

-

-

-

 

Total Fix Assets

11,201

509.7 %

1,837

-31.1 %

2,668

 

Total Current Assets

1,191,118

84.0 %

647,206

110.8 %

306,965

 

Trade Debtors

1,070,950

224.0 %

330,584

-

-

 

Stock

119,561

110.0 %

56,930

-

-

 

Cash

607

-99.4 %

103,955

-44.6 %

187,599

 

Other Current Assets

-

-100.0 %

155,737

37.7 %

113,116

 

Increase In Cash

-103,348

-23.6 %

-83,644

-152.1 %

160,513

 

Miscellaneous Current Assets

-

-

-

-100.0 %

6,250

 

Total Assets

1,202,319

85.2 %

649,043

109.6 %

309,633

 

Total Current Liabilities

959,757

104.0 %

470,354

176.1 %

170,356

 

Trade Creditors

959,757

176.6 %

347,046

471.2 %

60,756

 

Bank Overdraft

-

-

-

-

-

 

Other Short Term Fin

-

-

-

-

-

 

Miscellaneous Current Liabilities

-

-100.0 %

123,308

12.5 %

109,600

 

Other Long Term Fin

-

-

-

-

-

 

Total Long Term Liabilities

-

-

-

-

-

 

Bank Overdraft & LTL

-

-

-

-

-

 

Total Liabilities

959,757

104.0 %

470,354

176.1 %

170,356

 

Net Assets

242,562

35.7 %

178,689

28.3 %

139,277

 

Working Capital

231,361

30.8 %

176,852

29.5 %

136,609

 

Capitals & Reserves

 

Annual Accounts

08/05-07/06

Change (%)

08/04-07/05

Change (%)

08/03-07/04

 

Paid up equity

100,000

-

100,000

-

100,000

 

P&L Account Reserve

142,562

81.2 %

78,689

100.3 %

39,277

 

Sundry Reserves

-

-

-

-

-

 

Revaluation Reserve

-

-

-

-

-

 

Shareholder Funds

242,562

35.7 %

178,689

28.3 %

139,277

 

Net Worth

242,562

35.7 %

178,689

28.3 %

139,277

 

Miscellaneous

 

Annual Accounts

08/05-07/06

Change (%)

08/04-07/05

Change (%)

08/03-07/04

 

Net Cashflow from Operations

-

-

-

-

-

 

Net Cashflow before Financing

-

-

-

-

-

 

Net Cashflow from Financing

-

-

-

-

-

 

Contingent Liability

NO

-

NO

-

NO

 

Capital Employed

242,562

35.7 %

178,689

28.3 %

139,277

 

No of Employees

-

-

-

-

-

     

Auditors

 

 

AuditQualification

No Adverse Comments

 

Bankers

LLOYDS TSB BANK PLC

 

BankBranchCode

 

 

Ratios

 

Annual Accounts

08/05-07/06

08/04-07/05

08/03-07/04

 

Pre-tax profit margin %

-

7.9 %

10.2 %

 

Current ratio

1.24

1.38

1.80

 

Sales/Net Working Capital

-

3.48

3.42

 

Gearing %

0.0 %

0.0 %

0.0 %

 

Equity in %

20.2 %

27.5 %

45.0 %

 

Creditor Days

-

205.69

47.40

 

Debtor Days

-

195.93

0.00

 

Liquidity/Acid Test

1.12

1.25

1.80

 

Return On Capital Employed %

-

27.3 %

34.3 %

 

Return On Total Assets Employed %

-

7.5 %

15.5 %

 

Current Debt Ratio %

4.0 %

2.6 %

1.2 %

 

Total Debt Ratio %

4.0 %

2.6 %

1.2 %

 

Stock Turnover Ratio %

-

9.2 %

0.0 %

 

Return on Net Assets Employed %

-

27.3 %

34.3 %

 

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Credit Limit Explanation

 

The Recommended Credit Limit is calculated using a formula that analyses information from a company's financial accounts and payment record.
The advised amount can be defined as the maximum amount that could be advanced in any one calendar month, assuming standard payment terms of 30 days beyond the month of invoice. Therefore the same maximum amount could be advanced in the next calendar month.

 

Ccj's

Active CCJ'sq                1

Value of CCJ's [£]          £681

Number Of Writs            0

 

Date                                                                     Description

29/08/2008                                                            Financial Statements too old

01/11/2007                                                            Good Credit Worthiness

10/08/2007                                                            Financial Statements too old

26/07/2006                                                            Very Good Credit Worthiness

21/07/2006                                                            Financial Statements too old

 

 

group structure

 

No group structure for this company.

 

Status History

 

 

Date                                        Description

No Status History

 

Event History

 

Date              Description

29/08/2008      Accounts Overdue

26/02/2008      Annual Returns

01/11/2007      New Accounts Filed

25/02/2007      Change In Reg.office

25/02/2007      Change Of Company Postcode

26/07/2006      New Accounts Filed

05/04/2006      New Board Member (sandeep Dewan) Appointed

04/04/2006      Change In Reg.office

04/04/2006      Change Of Company Postcode

19/10/2005      New Accounts Filed

11/10/2005      New Board Member (sanjay Agiwal) Appointed

16/02/2005      New Board Member (armando Jesus Pantaliaomendes) Appointed

10/02/2005      Vishal Jain Has Left The Board

22/12/2004      Annual Returns

15/07/2004      Mustaq Adam Has Left The Board

 

directors

 

                                      Name                                   Sandeep  Dewan          

                                      Address                                61 Solomons Court          

                                                 North Finchley

                                                 London

                                                 N12 0AW

                                      Officers Title                                                             Date Of Birth      12/05/1977

                                      Honours                                                                    Present Appointments   4

                                      Appointment Date                28/02/2006                     Function            Director

                                                                                                                        

 

 

 

                                      Name                                   Sanjay  Agiwal  

                                      Address                                77 Abbey Fields Close     

                                                 London

                                                 NW10 7EG

                                      Officers Title                        Mr                                 Date Of Birth      12/12/1964

                                      Honours                                                                    Present Appointments   1

                                      Appointment Date                03/08/2005                     Function            Company Secretary

                                                                                                                        

 

 

                                      Name                                   Sarika  Rastogi  

                                      Address                                19 Orchard Court 

                                                 1-9 Portman Square

                                                 London

                                                 W1H 9PA

                                      Officers Title                                                             Date Of Birth      09/06/1975

                                      Honours                                                                    Present Appointments   1

                                      Appointment Date                12/11/2002                     Function            Director

                                                                                                                        

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.63

UK Pound

1

Rs.83.76

Euro

1

Rs.66.49

 

 

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.

 

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