MIRA INFORM REPORT

Report No. :	340224
Report Date :	12.09.2015

IDENTIFICATION DETAILS

Name :	BYCITY LIVING LIMITED

Registered Office :	85 Brunner Road Walthamstow London E17 7NW

Country :	United Kingdom

Financials (as on) :	31.03.2014

Date of Incorporation :	13.02.2004

Legal Form :	Private limited with Share Capital

Line of Business :	Soft furnishing and home ware products.

No. of Employee :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but correct
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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 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 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 6.0% in 2014.

In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.7% and in 2014, 2.6%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

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).

Source : CIA

company name and address

Company Name: BYCITY LIVING LIMITED

Company No: 05043715

Company Status: Active - Accounts Filed

Registered Address: 85 BRUNNER ROAD WALTHAMSTOW LONDON E17 7NW

Company Summary

Registered Address

85 BRUNNER ROAD
WALTHAMSTOW
LONDON
E17 7NW

Trading Address

85 Brunner Road
Walthamstow
London
E17 7NW

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

Telephone Number 02085215653

TPS No

FPS No

Incorporation Date 13/02/2004

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 23/12/2014

Currency GBP

Share Capital £100

SIC07 82990

Charity Number -

SIC07 Description OTHER BUSINESS SUPPORT SERVICE ACTIVITIES N.E.C.

Principal Activity Soft furnishing and home ware products.

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

31/03/2014 - - £167,823 -

31/03/2013 - - £195,444 -

31/03/2012 - - £219,572 -

Mortgage Summary

Total Mortgage 4

Outstanding 4

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.
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 -	-

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

Current Directors

Name	Zahed Mahroof	Date of Birth	16/10/1974
Officers Title	Mr	Nationality	British
Present Appointments	15	Function	Director
Appointment Date	13/02/2004
Address	44 Herongate Road, Wanstead, London, E12 5EG

Name	Mohit Jain	Date of Birth	27/07/1976
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	23/11/2007
Address	8 Wiseman Road, Leyton, London, E10 7BU

Name	Waheed Mahroof	Date of Birth	09/06/1973
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	31/01/2013
Address	16 The Risings, Walthamstow, London, E17 3PJ

Name	Fozia Mahroof	Date of Birth	04/09/1976
Officers Title	Mrs	Nationality	British
Present Appointments	3	Function	Director
Appointment Date	02/01/2014
Address	44 Herongate Road, Wanstead, London, E12 5EG

Current Company Secretary

Name	Zahed Mahroof	Date of Birth	16/10/1974
Officers Title	Mr	Nationality	British
Present Appointments	15	Function	Company Secretary
Appointment Date	13/02/2004
Address	44 Herongate Road, Wanstead, London, E12 5EG

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
MR ZAHED MAHROOF	GBP	25	ORDINARY	1	25
MR MOHIT JAIN	GBP	24	ORDINARY	1	24
MAHROOF WAHEED	GBP	24	ORDINARY	1	24
EXECUTORS OF ESTATE OF MR ABDUL MAHROOF	GBP	22	ORDINARY	1	22
BUKHARI NISAR	GBP	5	ORDINARY	1	5

Financials

Profit & Loss

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
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	£13,356	0.1%	£13,347	0.9%	£13,230	0%	£13,231	-	-
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Tangible Assets	£278,484	-4.5%	£291,528	-4.2%	£304,305	-4.2%	£317,535	-	0
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£278,484	-4.5%	£291,528	-4.2%	£304,305	-4.2%	£317,535	-	0
Stock	£177,206	148.6%	£71,270	-7.9%	£77,387	23.3%	£62,738	-40.2%	£104,942
Trade Debtors	£205,334	-12.2%	£233,997	-27.8%	£323,900	24.6%	£260,001	23%	£211,326
Cash	£291,536	-17.5%	£353,423	101.1%	£175,766	-34.4%	£267,972	-40.1%	£447,288
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£674,076	2.3%	£658,690	14.1%	£577,053	-2.3%	£590,711	-22.6%	£763,556
Trade Creditors	£630,574	8%	£583,939	22%	£478,725	-12.9%	£549,457	-14.7%	£644,461
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	0	-	0	-	0	-	0	-	0
Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	0
Total Current Liabilities	£630,574	8%	£583,939	22%	£478,725	-12.9%	£549,457	-14.7%	£644,461
Bank Loans & Overdrafts and LTL	£154,163	-9.8%	£170,835	-6.7%	£183,061	-7.4%	£197,700	-	0
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£154,163	-9.8%	£170,835	-6.7%	£183,061	-7.4%	£197,700	-	0

Capital & Reserves

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Called Up Share Capital	£100	-	£100	-	£100	-	£100	-	£100
P & L Account Reserve	£167,723	-14.1%	£195,344	-11%	£219,472	36.3%	£160,989	35.3%	£118,995
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£167,823	-14.1%	£195,444	-11%	£219,572	36.3%	£161,089	35.3%	£119,095

Other Financial Items

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Net Worth	£167,823	-14.1%	£195,444	-11%	£219,572	36.3%	£161,089	35.3%	£119,095
Working Capital	£43,502	-41.8%	£74,751	-24%	£98,328	138.3%	£41,254	-65.4%	£119,095
Total Assets	£952,560	0.2%	£950,218	7.8%	£881,358	-3%	£908,246	18.9%	£763,556
Total Liabilities	£784,737	4%	£754,774	14.1%	£661,786	-11.4%	£747,157	15.9%	£644,461
Net Assets	£167,823	-14.1%	£195,444	-11%	£219,572	36.3%	£161,089	35.3%	£119,095

Cash Flow

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£321,986	-12.1%	£366,279	-9%	£402,633	12.2%	£358,789	201.3%	£119,095
Number of Employees	-	-	-	-	-	-	-	-	-
Accountants
Auditors
Auditor Comments	The company is exempt from audit
Bankers
Bank Branch Code

Ratios

Date Of Accounts	31/03/14	31/03/13	31/03/12	31/03/11	31/03/10
Pre-tax profit margin %	-	-	-	-	-
Current ratio	1.07	1.13	1.21	1.08	1.18
Sales/Net Working Capital	-	-	-	-	-
Gearing %	91.90	87.40	83.40	122.70	0
Equity in %	17.60	20.60	24.90	17.70	15.60
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	0.78	1	1.04	0.96	1.02
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	3.75	2.98	2.18	3.41	5.41
Total Debt Ratio	4.67	3.86	3.01	4.63	5.41
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
27/02/2015	Annual Returns
30/12/2014	New Accounts Filed
03/03/2014	New Board Member Mrs F. Mahroof appointed
26/02/2014	Annual Returns
30/12/2013	New Accounts Filed
13/05/2013	Annual Returns
15/02/2013	New Board Member Mr W. Mahroof appointed
08/01/2013	New Accounts Filed
08/01/2013	New Accounts Filed
21/03/2012	Annual Returns
20/03/2012	Mr A. Mahroof has left the board
09/02/2012	New Accounts Filed
26/02/2011	Annual Returns
07/01/2011	New Accounts Filed
02/03/2010	Annual Returns

Previous Company Names

No Previous Names found

Writ Details

No writs found

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group Structure Full

No Group Structure

Mortgage Details

Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	30/04/10
Date Charge Registered:	06/05/10
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	86 BRUNNER ROAD WALTHAMSTOW LONDON, EGL549511 TOGETHER WITH ALL FIXTURES & FITTINGS, NOW OR AT ANY TIME HEREAFTER, ON THE PROPERTY. THE BENEFITS OF ALL RIGHTS,LICENCES & THE GOODWILL OF THE MORTGAGORIN RELATION TO THE BUSINESS, FROM TIMETO TIME, CARRIED ON AT THE PROPERTY SEEIMAGE FOR FULL DETAILS
Mortgage Type:	FLOATING CHARGE (ALL ASSETS)
Date Charge Created:	05/08/08
Date Charge Registered:	07/08/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC INVOICE FINANCE (UK) LTD
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	BY WAY OF FLOATING CHARGE ALL THE UNDERTAKING OF THE COMPANY AND ALL ASSETS WHATSOEVER AND WHERESOEVER INCLUDING STOCK IN TRADE AND UNCALLED CAPITAL BUT EXCLUDING ANY DEBTS AND ASSOCIATED RIGHTS RELATING THERETO

Mortgage Type:	FIXED CHARGE ON PURCHASED DEBTS WHICH FAIL TO VEST
Date Charge Created:	05/08/08
Date Charge Registered:	07/08/08
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC INVOICE FINANCE (UK) LTD
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THETERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	BY WAY OF FIXED EQUITABLE CHARGE ALL DEBTS PURCHASED OR PURPORTED TO BE PURCHASED BY THE SECURITY HOLDER PURSUANT TO ANAGREEMENT FOR THE PURCHASE OF DEBTS BETWEEN THE SECURITY HOLDER AND THE COMPANY(INCLUDING ASSOCIATED RIGHTS RELATING THERETO) WHICH FAIL TO VEST EFFECTIVELY OR ABSOLUTELY IN THE SECURITY HOLDER FOR ANY REASON
Mortgage Type:	DEBENTURE
Date Charge Created:	21/06/05
Date Charge Registered:	09/07/05
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC
Amount Secured:	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 FIXTURESFIXED PLANT AND MACHINERY

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Abdul Mahroof	1	6
Average Invoice Value	n/a
Invoices available	n/a
Paid	n/a
Outstanding	n/a

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.39
UK Pound	1	Rs.102.59
Euro	1	Rs.74.90

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	SDA

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%)

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.