|
Report Date : |
21.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
LUMINVISION LTD |
|
|
|
|
Registered Office : |
1-5 Market Square, Ilfracombe, Devon, EX34 9AU |
|
|
|
|
Country : |
United
Kingdom |
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
15.09.2006 |
|
|
|
|
Com. Reg. No.: |
05937579 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Manufacturer of interactive projection
screens and 3D displays. Includes gallery of hardware and software |
|
|
|
|
No. of Employees : |
2 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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. Over the past two decades, the government has greatly reduced public ownership. 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 became a net importer of energy in 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. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, 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; these included nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 largely due to the euro-zone debt crisis. 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 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of Ł375 billion (approximately $605 billion) as of December 2013. 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). In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.4%, accelerating unexpectedly in the second half of the year because of greater consumer spending and a recovering housing market. The budget deficit is falling but remains high at nearly 7% and public debt has continued to increase.
|
Source
: CIA |
LUMINVISION
LTD
|
LUMINVISION LTD |
|
+44 020 3318 8166 |
|
1-5 MARKET
SQUARE ILFRACOMBE DEVON EX34 9AU United Kingdom |
Fax |
- |
|
Company Number: 05937579 |
Website |
|
|
Foundation: 15/09/2006 |
Status: |
Active - Accounts Filed |
|
|
Vat No |
GB891732302 |
|
|
Payment experience and credit opinion |
|
|
|
Comments No exact match CCJs are recorded against the company. Net Worth decreased by 15.9%
during the latest
trading period. A 9.4% decline in Total Assets occurred during the latest trading period.
The company saw a decrease in their Cash Balance of 34.1% during
the latest trading period.
The movement in accumulated earnings would indicate that the company incurred
a loss after tax and other appropriations, including dividends. There has been no significant change in the company’s credit limit. There is insufficient data to indicate a change in this company’s percentage of sales. There
is insufficient data to indicate a change in this company’s pre-tax
profit. The company
is exempt from audit.
No recent changes
in directorship are recorded. The company
is not part of a group.
The company
was established over 8 years
ago. |
|
|
Legal form |
|
Foundation 15/09/2006 |
|
Company No. 05937579 |
|
Name |
Currency |
Number of shares |
Share
type |
Nominal value |
|
DANIEL HUDSON |
GBP |
499 |
ORDINARY |
1 |
|
DAVID WILLIAMS |
GBP |
501 |
ORDINARY |
1 |
|
Total Share Capital |
||||
|
Directors Name |
Address: |
Date of birth |
Nationality |
Appointment date |
|
Mr Daniel Hudson |
The Abbeydale, Torrs Park, Ilfracombe, Devon EX34 8AY |
04/11/1985 |
British |
15/09/2006 |
|
Mr David Williams |
Silver Springs, New Barnstaple Road, Ilfracombe, Devon EX34 9NF |
16/08/1970 |
British |
15/09/2006 |
|
Company
Secretary |
Address: |
Appointment date |
|
Mr David Williams |
The Abbeydale, Torrs Park, Ilfracombe, Devon EX34 8AY |
15/09/2006 |
1-5 Market Square, Ilfracombe, Devon EX34 9AU
|
Main activity |
|
|
Principal Activity |
Production
of software, and marketing of hardware and software. |
|
SIC03 |
Other
software consultancy and supply |
|
SIC07 |
Ready-made
interactive leisure and entertainment software development |
Turnover
and Employees
|
Date of Accounts |
Turnover |
Employees |
|
30/09/2011 |
GBP 219,358 |
Not
Stated |
|
30/09/2012 |
Not Stated |
Not
Stated |
|
30/09/2013 |
Not Stated |
Not
Stated |
Events
|
Date |
|
|
27/02/2010 |
New Accounts Filed |
|
27/02/2010 |
New Accounts Filed |
|
22/09/2010 |
Annual Returns |
|
29/11/2010 |
New Accounts Filed |
|
05/10/2011 |
Annual Returns |
|
16/01/2012 |
New Accounts Filed |
|
16/01/2012 |
New Accounts Filed |
|
28/09/2012 |
Annual Returns |
|
09/07/2013 |
New Accounts Filed |
|
11/10/2013 |
Annual Returns |
|
21/03/2014 |
New Accounts Filed |
|
24/09/2014 |
Annual Returns |
Country court judgments (CCJs)
There are no
County Court Judgments listed against this company
|
|
30/09/2013 52 GBP Group:
No |
30/09/2012 52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
|
Turnover |
0 |
0 |
219,358 |
223,992 |
|
Export . |
|
|
|
|
|
Cost of Sales |
- |
- |
69,175 |
63,613 |
|
Gross Profit |
- |
- |
150,183 |
160,379 |
|
Wages And Salaries |
0 |
0 |
0 |
0 |
|
Directors Emoluments |
- |
- |
15,339 |
15,397 |
|
Operating Profit |
- |
- |
57,163 |
84,570 |
|
Depreciation |
390 |
459 |
540 |
635 |
|
Audit Fees |
0 |
0 |
0 |
0 |
|
Interests Payments |
- |
- |
1,220 |
1,028 |
|
Pre Tax Profit |
0 |
0 |
55,943 |
83,542 |
|
Taxation |
- |
- |
-11,585 |
-17,568 |
|
Profit After Tax |
- |
- |
44,358 |
65,974 |
|
Dividends Payable |
- |
- |
51,000 |
69,000 |
|
Retained Profit |
- |
- |
-6,642 |
-3,026 |
|
|
30/09/2013 52 GBP Group:
No |
30/09/2012 52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
|
Tangible Assets |
2,211 |
2,601 |
3,060 |
3,600 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
|
Total Fixed Assets |
2,211 |
2,601 |
3,060 |
3,600 |
|
Stock |
18,400 |
19,846 |
21,346 |
24,752 |
|
Trade Debtors |
14,634 |
16,400 |
1,245 |
0 |
|
Cash |
110 |
167 |
5,619 |
13,007 |
|
Other Debtors |
0 |
0 |
14,452 |
9,212 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
|
Total Current Assets |
33,144 |
36,413 |
42,662 |
46,971 |
|
Trade Creditors |
34,348 |
37,816 |
10,000 |
10,000 |
|
Bank Loans and Overdraft |
0 |
0 |
0 |
0 |
|
Other Short Term Finance |
0 |
0 |
0 |
0 |
|
Miscellaneous Current
Liabilities |
0 |
0 |
34,271 |
32,478 |
|
Total Current Liabilities |
34,348 |
37,816 |
44,271 |
42,478 |
|
|
30/09/2013 52 GBP Group: No |
30/09/2012 52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
|
Bank Loans and Overdrafts
LTL |
0 |
0 |
0 |
0 |
|
Other Long Term Finance |
0 |
0 |
0 |
0 |
|
Total Long Term Liabilities |
0 |
0 |
0 |
0 |
|
|
30/09/2013 52 GBP Group: No |
30/09/2012 52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
|
Called Up Share Capital |
1,000 |
1,000 |
1,000 |
1,000 |
|
P and L Account Reserve |
7 |
198 |
451 |
7,093 |
|
Revaluation Reserve |
0 |
0 |
0 |
0 |
|
Sundry Reserves |
0 |
0 |
0 |
0 |
|
Shareholders Funds |
1,007 |
1,198 |
1,451 |
8,093 |
|
|
30/09/2013 52 GBP Group: No |
30/09/2012 52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
|
Net Worth |
1,007 |
1,198 |
1,451 |
8,093 |
|
Working Capital |
-1,204 |
-1,403 |
-1,609 |
4,493 |
|
Total Assets |
35,355 |
39,014 |
45,722 |
50,571 |
|
Total Liabilities |
34,348 |
37,816 |
44,271 |
42,478 |
|
Net Assets |
1,007 |
1,198 |
1,451 |
8,093 |
|
|
30/09/2013 52 GBP Group: No |
30/09/2012 52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
|
Net Cash Flow from Operations |
0 |
0 |
0 |
0 |
|
Net Cash Flow before Financing |
0 |
0 |
0 |
0 |
|
Net Cash Flow from Financing |
0 |
0 |
0 |
0 |
|
Increase in Cash |
-57 |
-5,452 |
-7,388 |
9,242 |
|
Net Cash Flow before Financing |
0 |
0 |
0 |
0 |
|
|
30/09/2013 52 GBP Group: No |
30/09/2012 52 GBP Group: No |
30/09/2011 52 GBP Group: No |
30/09/2010 52 GBP Group: No |
|
Capital Employed |
1007 |
1198 |
1451 |
8093 |
|
Name |
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
|
Pre Tax Profit Margin |
0.0% |
0.0% |
25.50 % |
37.30 % |
|
Current Ration |
0.96 |
0.96 |
0.96 |
1.11 |
|
Sales or Net Working Capital |
0.00 |
0.00 |
-136.33 |
49.85 |
|
Gearing |
0.00 % |
0.00 % |
0.00 % |
0.00 % |
|
Equity |
2.85 % |
3.07 % |
3.17 % |
16.00 % |
|
Creditor Days |
0.00 |
0.00 |
16.59 |
16.25 |
|
Debtor Days |
0.00 |
0.00 |
2.06 |
0.00 |
|
Liquidity or Acid test |
0.42 |
0.43 |
0.48 |
0.52 |
|
Return on Capital Employed |
0.0% |
0.0% |
3855.47 % |
1032.27 % |
|
Return on Total Assets Employed |
0.0% |
0.0% |
122.35 % |
165.19 % |
|
Current Debt Ratio |
34.10 % |
31.56 % |
30.51 % |
5.24 % |
|
Total Debt Ratio |
34.10 % |
31.56 % |
30.51 % |
5.24 % |
|
Stock Turnover Ratio |
0.0% |
0.0% |
9.73 % |
11.05 % |
|
Return on Net Assets Employed |
0.0% |
0.0% |
3855.47 % |
1032.27 % |
|
Name |
30/09/2013 |
30/09/2012 |
30/09/2011 |
30/09/2010 |
The
abbreviated balance sheet reports the general financial position as very weak with
continuing losses and shareholder’s fund at a low level. Remains to be seen how
the company trades in the financial year ended September 2014
Apparent
Net Loss Year Ended 30/09/2013 – 191GBP
Apparent
Net Loss Year Ended 30/09/2012 – 253GBP
Activity – Manufacturer of interactive projection screens and 3D displays. Includes gallery of hardware and software
Trading address confirmed - Silver Springs, New Barnstaple Rd, Ilfracombe Devon EX34 9NF
Employees 2
Bank :- Lloyds TSB Bank plc
Branches- Dubai
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.10 |
|
|
1 |
Rs.97.32 |
|
Euro |
1 |
Rs.77.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNT |
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.