MIRA INFORM REPORT

Report No. :	318354
Report Date :	23.04.2015

IDENTIFICATION DETAILS

Name :	OPT FX LTD

Formerly Known As :	PAYMENT PROVIDERS LTD

Registered Office :	49 Albert Buildingsqueen Victoria Streetlondonec4n 4SA

Country :	United Kingdom

Financials (as on) :	28.02.2014

Date of Incorporation :	09.02.2011

Com. Reg. No.:	07523963

Legal Form :	Private limited with Share Capital

Line of Business :	Financial Management [Note: We tried to confirm / obtain the detailed activity but the same is not available from any sources]

No. of Employee :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

United Kingdom

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. 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. 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 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. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. 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 20% by 2015. However, the deficit still remains one of the highest in the G7, standing at 5.8% in 2013. The Bank of England (BoE) implemented an asset purchase program of �375 billion (approximately $586 billion) as of December 2014. 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 1.8%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

Source : CIA

Company name and address

OPT FX LTD

Company No:

07523963

Registered Address:

49 ALBERT BUILDINGSQUEEN VICTORIA STREETLONDONEC4N 4SA

Company Summary

Registered Address	49 ALBERT BUILDINGS QUEEN VICTORIA STREET LONDON EC4N 4SA	Trading Address	Albert Buildings 49 Queen Victoria Street London EC4N 4SA
Website Address	http://www.optfx.co.uk
Telephone Number	02071003508	Fax Number	--
TPS	No	FPS	No
Incorporation Date	09/02/2011
Previous Name	PAYMENT PROVIDERS LTD	Type	Private limited with Share Capital
FTSE Index	--	Date of Change	05/10/2012
Filing Date of Accounts	05/11/2014	Currency	GBP
Share Capital	£633	SIC07	70221
Charity Number	--
SIC07 Description	Financial Management
Principal Activity

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
28/02/2014	--	--	£40,703	--
28/02/2013	--	--	£21,048	--
31/05/2012	--	--	--	--

Mortgage Summary

Total Mortgage 2

Outstanding 2

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 Small company in respect of the rating/limit generated.
The latest Balance Sheet indicates a positive net working capital position.
The latest cash balances represent a positive level in terms of the overall outstanding creditor obligations.
There has been an increase in shareholders funds compared with the previous balance sheet.
This company trades in an industry with a lower 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 -	-

Total Current Directors	4
Total Current Secretaries	0
Total Previous Directors / Company Secretaries	1

Current Directors

Name	John Edward Barnett	Date of Birth	26/01/1971
Officers Title	Mr	Nationality	British
Present Appointments	4	Function	Director
Appointment Date	04/10/2012
Address	49 Albert Buildings, Queen Victoria Street, London, EC4N 4SA

Name	Terry Lee Chamberlain	Date of Birth	12/11/1979
Officers Title	Mr	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	11/07/2014
Address	274a Godstone Road, Whyteleafe, Surrey, CR3 0EF

Name	Panayiotis Demetriou	Date of Birth	28/12/1980
Officers Title	Mr	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	11/07/2014
Address	19 The Alders, Winchmore Hill, London, N21 1AR

Name	Jean De Vannoise	Date of Birth	11/09/1980
Officers Title	Mr	Nationality	French
Present Appointments	1	Function	Director
Appointment Date	22/10/2014
Address	Basement Flat 30a Coningham Road, Email Only, London, W12 8BJ

Current Company Secretary

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value
JEAN DE VANNOISE	GBP	2,850	ORDINARY B	0.1
JOHN EDWARD BARNETT	GBP	2,850	ORDINARY A	0.1
SYNERGY EXCHANGE LTD	GBP	630	ORDINARY C	0.1

Unable to report percentage holdings as filed Shareholder listing is not full.

Profit & Loss

Date Of Accounts	28/02/14	(%)	28/02/13	(%)	31/05/12	(%)	-	(%)	-
Weeks	52	(%)	39	(%)	52	(%)	-	(%)	-
Currency	GBP	(%)	GBP	(%)	GBP	(%)	-	(%)	-
Consolidated A/cs	N	(%)	N	(%)	N	(%)	-	(%)	-
Turnover	-	-	-	-	-	-	-	-	-
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-
Wages & Salaries	-	-	-	-	-	-	-	-	-
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	-	-	-	-	-	-	-	-	-
Depreciation	£1,867	500.3%	£311	-	-	-	-	-	-
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	28/02/14	(%)	28/02/13	(%)	31/05/12	(%)	-	(%)	-
Tangible Assets	£10,422	-15.2%	£12,289	-	0	-	-	-	-
Intangible Assets	0	-	0	-	0	-	-	-	-
Total Fixed Assets	£10,422	-15.2%	£12,289	-	0	-	-	-	-
Stock	0	-	0	-	0	-	-	-	-
Trade Debtors	£8,046	222.9%	£2,492	-	0	-	-	-	-
Cash	£230,577	-21.3%	£293,004	-	0	-	-	-	-
Other Debtors	0	-	0	-	0	-	-	-	-
Miscellaneous Current Assets	0	-	0	-	0	-	-	-	-
Total Current Assets	£238,623	-19.2%	£295,496	-	0	-	-	-	-
Trade Creditors	£208,342	-27.3%	£286,737	-	0	-	-	-	-
Bank Loans & Overdrafts	0	-	0	-	0	-	-	-	-
Other Short Term Finance	0	-	0	-	0	-	-	-	-
Miscellaneous Current Liabilities	0	-	0	-	0	-	-	-	-
Total Current Liabilities	£208,342	-27.3%	£286,737	-	0	-	-	-	-
Bank Loans & Overdrafts and LTL	0	-	0	-	0	-	-	-	-
Other Long Term Finance	0	-	0	-	0	-	-	-	-
Total Long Term Liabilities	0	-	0	-	0	-	-	-	-

Capital & Reserves

Date Of Accounts	28/02/14	(%)	28/02/13	(%)	31/05/12	(%)	-	(%)	-
Called Up Share Capital	£633	999.9%	£38	-	-	-	-	-	-
P & L Account Reserve	£40,070	90.7%	£21,010	-	-	-	-	-	-
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£40,703	93.4%	£21,048	-	-	-	-	-	-

Other Financial Items

Date Of Accounts	28/02/14	(%)	28/02/13	(%)	31/05/12	(%)	-	(%)	-
Net Worth	£40,703	93.4%	£21,048	-	-	-	-	-	-
Working Capital	£30,281	245.7%	£8,759	-	-	-	-	-	-
Total Assets	£249,045	-19.1%	£307,785	-	-	-	-	-	-
Total Liabilities	£208,342	-27.3%	£286,737	-	-	-	-	-	-
Net Assets	£40,703	93.4%	£21,048	-	-	-	-	-	-

Cash Flow

Date Of Accounts	28/02/14	(%)	28/02/13	(%)	31/05/12	(%)	-	(%)	-
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	28/02/14	(%)	28/02/13	(%)	31/05/12	(%)	-	(%)	-
Contingent Liability	NO	-	NO	-	NO	-	-	-	-
Capital Employed	£40,703	93.4%	£21,048	-	-	-	-	-	-
Number of Employees	-	-	-	-	-	-	-	-	-

Auditors
Auditor Comments	The company is exempt from audit
Bankers
Bank Branch Code

Ratios

Date Of Accounts	28/02/14	28/02/13	31/05/12	-	-
Pre-tax profit margin %	-	-	-	-	-
Current ratio	1.15	1.03	-	-	-
Sales/Net Working Capital	-	-	-	-	-
Gearing %	0	0	0	-	-
Equity in %	16.30	6.80	-	-	-
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	1.14	1.03	-	-	-
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	5.11	13.62	-	-	-
Total Debt Ratio	5.11	13.62	-	-	-
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
16/03/2015	New Board Member Mr P. Demetriou appointed
11/03/2015	Annual Returns
09/03/2015	New Board Member Mr P. Demetriou appointed
09/03/2015	New Board Member Mr T.L. Chamberlain appointed
16/12/2014	Annual Returns
11/11/2014	New Board Member Mr J. De Vannoise appointed
08/11/2014	New Accounts Filed
10/04/2014	NEW WRITS RECORD
19/02/2014	Annual Returns
18/05/2013	New Accounts Filed
26/02/2013	Annual Returns
27/10/2012	New Accounts Filed
09/10/2012	Change of Name
08/10/2012	Change in Reg.Office
08/10/2012	Change of Company Postcode

Previous Company Names

Date	Previous Name
05/10/2012	PAYMENT PROVIDERS LTD
04/11/2011	360FX LTD

Writ Details

Date	Court	Plaintiff
07/02/2014	R C J - LONDON QUEENS BENCH	FIRST RATE F X LTD

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group StructureFull

No Group Structure

Mortgage Details

Mortgage Type:	CHARGE OF DEPOSIT
Date Charge Created:	30/11/12
Date Charge Registered:	04/12/12
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	THE ROYAL BANK OF SCOTLAND PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ALL AMOUNTS NOW AND IN THE FUTURE CREDITED TO ACCOUNT NUMBER 11204522
Mortgage Type:	DEBENTURE
Date Charge Created:	13/06/11
Date Charge Registered:	15/06/11
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	THE ROYAL BANK OF SCOTLAND PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL,UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Robert John Groves	2	2
Average Invoice Value		£520
Invoices available		2
Paid		2
Outstanding		0

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	2	0	0	0	0
Outstanding	0	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.82
UK Pound	1	Rs.93.85
Euro	1	Rs.67.59

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	ANK

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%)

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