MIRA INFORM REPORT

Report No. :	492578
Report Date :	19.02.2018

IDENTIFICATION DETAILS

Name :	VICTORY LIGHTING (UK) LIMITED
Formerly Known As :	LOXTRONIC LIMITED
Registered Office :	Ground Floor, Unit 501 Centennial Park, Elstree, Borehamwood WD6 3FG
Country :	United Kingdom
Financials (as on) :	31.10.2016
Date of Incorporation :	18.04.1991
Com. Reg. No.:	02602874
Legal Form :	Private Limited with Share Capital
Line of Business :	Manufacture of Telegraph and Telephone Apparatus and Equipment
No. of Employees :	Not Available

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
United Kingdom	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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; 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 the UK’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 then CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which has continued under the Conservative government. However, the deficit still remains one of the highest in the G7, standing at 3.6% of GDP as of 2017, and the UK has pledged to lower its corporation tax from 20% to 17% by 2020. The UK had a debt burden of 90.4% GDP at the end of 2017.

The UK’s economy has begun to slow since the referendum vote to leave the EU in June 2016. A sustained depreciation of the British pound has increased consumer and producer prices, weighing on consumer spending without spurring a meaningful increase in exports. The UK has an extensive trade relationship with other EU members through its single market membership and economic observers have warned the exit will jeopardize its position as the central location for European financial services. Prime Minister MAY is seeking a new “deep and special” trade relationship with the EU following the UK’s exit. However, economists doubt that the UK will be able to preserve the benefits of EU membership without the obligations.

Source : CIA

Company Summary

Registered Address

Ground Floor
Unit 501 Centennial Park
Elstree, Borehamwood
WD6 3FG

Trading Address

Unit 501
Ground Floor, Centennial Park
Centennial Avenue, Elstree
Borehamwood, Hertfordshire
WD6 3FG

Trading Address

Unit 3 Eastman Way, Hemel Hempsted,

Hertfordshire, HP2 7DU

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

Company Number 02602874

Telephone Number -

Fax Number -

TPS -

FPS Yes

Incorporation Date 18/04/1991

Previous Name LOXTRONIC LIMITED

Type Private Limited with Share Capital

FTSE Index -

Date of Change 23/05/1991

Filing Date of Accounts 16/06/2017

Currency GBP

Share Capital £4,988

SIC07 26301

Charity Number -

SIC07 Description Manufacture of telegraph and telephone apparatus and equipment

Principal Activity -

Additional Information

CCJ's

0 (£0)

No CCJ Information To Display

Ultimate Holding Company VICTORY LIGHTING (UK) LIMITED

Accountant SOBELL RHODES LLP

Mortgages 5

Group 2 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder	Funds Employees
31.10.2016	-	-	£4,653,040	-
31.10.2015	-	-	£4,325,695	-
31.10.2014	-	-	£4,183,100	-

Mortgage summary

Total Mortgage 5

Outstanding 3

Satisfied 2

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 very 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 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	2	Total Current Secretaries	1
Total Previous Directors / Company Secretaries	11	Total Person's With Significant Control	2

Current Directors

Title	Mr	Function	Director
Name	Alan Penman	Nationality	British
Date of Birth	01/1951	Present Appointments	2
Latest Address	43 Station Road, Cheddington, Leighton Buzzard, Bedfordshire	Appointment Date	01/05/1991
Post Code	LU7 0SG
Title	Mrs	Function	Director
Name	Jacqueline Penman	Nationality	British
Date of Birth	02/1962	Present Appointments	2
Latest Address	43 Station Road, Cheddington, Leighton Buzzard, Buckinghamshire	Appointment Date	25/07/1994
Post Code	LU7 0SG

Current Company Secretary

Title	Ms	Function	Company Secretary
Name	Jacqueline Penman	Nationality	British
Date of Birth	02/1962	Present Appointments	3
Latest Address	43 Station Road, Cheddington, Leighton Buzzard, Buckinghamshire	Appointment Date	21/07/1991
Post Code	LU7 0SG

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
ALAN PENMAN	GBP	2,204	ORDINARY	1	44.19
JACQUELINE PENMAN	GBP	1,774	ORDINARY	1	35.57
TYLER PENMAN	GBP	494	ORDINARY B	1	9.9
JORDAN PENMAN	GBP	494	ORDINARY B	1	9.9
MR GORDON RALPH	GBP	10	ORDINARY	1	0.2
TYLER PENMAN	GBP	5	ORDINARY	1	0.1
JORDAN PENMAN	GBP	5	ORDINARY	1	0.1
MR DONALD ROSS FERGUSON	GBP	2	ORDINARY	1	0.04

Profit & Loss

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	65
	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	£162,361	-8.3%	£177,091	48.8%	£119,039	49.6%	£79,547	30.8%	£60,803
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Tangible Assets	£1,358,362	19.8%	£1,133,457	-1.9%	£1,155,049	71.9%	£671,976	-28.8%	£943,792
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£1,358,362	19.8%	£1,133,457	-1.9%	£1,155,049	71.9%	£671,976	-28.8%	£943,792
	Stock	£550,100	-2.8%	£566,052	73%	£327,208	1.6%	£322,183	10.2%	£292,269
	Trade Debtors	£793,247	-9.9%	£880,127	40%	£628,783	-2.7%	£645,935	-6.1%	£688,036
	Cash	£2,853,938	12.7%	£2,533,315	-3.2%	£2,617,231	-3.8%	£2,719,552	55.5%	£1,748,939
	Other Debtors	0	-	0	-	0	-	0	-	0
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£4,197,285	5.5%	£3,979,494	11.4%	£3,573,222	-3.1%	£3,687,670	35.1%	£2,729,244
	Trade Creditors	£895,309	17.9%	£759,385	43.6%	£528,737	-10.3%	£589,585	59.3%	£370,222
	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	£895,309	17.9%	£759,385	43.6%	£528,737	-10.3%	£589,585	59.3%	£370,222
	Bank Loans & Overdrafts and LTL	£7,298	-73.8%	£27,871	69.6%	£16,434	-25.5%	£22,052	-	0
	Other Long Term Finance	0	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£7,298	-73.8%	£27,871	69.6%	£16,434	-25.5%	£22,052	-	0

Capital & Reserves

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Called Up Share Capital	£4,988	24.7%	£4,000	-	£4,000	-	£4,000	-	£4,000
	P & L Account Reserve	£4,648,052	7.6%	£4,321,695	3.4%	£4,179,100	11.6%	£3,744,009	13.5%	£3,298,814
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£4,653,040	7.6%	£4,325,695	3.4%	£4,183,100	11.6%	£3,748,009	13.5%	£3,302,814

Other Financial Items

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Net Worth	£4,653,040	7.6%	£4,325,695	3.4%	£4,183,100	11.6%	£3,748,009	13.5%	£3,302,814
	Working Capital	£3,301,976	2.5%	£3,220,109	5.8%	£3,044,485	-1.7%	£3,098,085	31.3%	£2,359,022
	Total Assets	£5,555,647	8.7%	£5,112,951	8.1%	£4,728,271	8.5%	£4,359,646	18.7%	£3,673,036
	Total Liabilities	£902,607	14.7%	£787,256	44.4%	£545,171	-10.9%	£611,637	65.2%	£370,222
	Net Assets	£4,653,040	7.6%	£4,325,695	3.4%	£4,183,100	11.6%	£3,748,009	13.5%	£3,302,814

Cash Flow

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£4,660,338	7%	£4,353,566	3.7%	£4,199,534	11.4%	£3,770,061	14.1%	£3,302,814
	Number of Employees	-	-	-	-	-	-	-	-	-
	Accountants	SOBELL RHODES LLP
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers	BARCLAYS BANK PLC
	Bank Branch Code

Ratios

	Date Of Accounts	31/10/16	31/10/15	31/10/14	31/10/13	31/10/12
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	4.69	5.24	6.76	6.25	7.37
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	0.20	0.60	0.40	0.60	0
	Equity in %	83.80	84.60	88.50	86	89.90
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	4.07	4.49	6.13	5.70	6.58
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	0.19	0.17	0.12	0.15	0.11
	Total Debt Ratio	0.19	0.18	0.13	0.16	0.11
	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
30/01/2018	Payment Data Update Received
21/06/2017	Payment Data Update Received
20/06/2017	New Accounts Filed
19/05/2017	Confirmation Statement
02/12/2016	Payment Data Update Received
05/07/2016	New Accounts Filed
21/06/2016	Annual Returns
21/06/2016	Change in Reg.Office
21/06/2016	Change of Company Postcode
25/08/2015	Change in Reg.Office
25/08/2015	Change of Company Postcode
25/05/2015	New Accounts Filed
22/05/2015	Annual Returns
04/07/2014	New Accounts Filed
04/07/2014	New Accounts Filed

Previous Company Names

Date	Previous Name
23/05/1991	LOXTRONIC LIMITED

Writ Details

No writs found

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	VICTORY LIGHTING (UK) LIMITED
Ownership Status	Ultimately Owned
Ultimate Holding Company	VICTORY LIGHTING (UK) LIMITED

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
VICTORY LIGHTING (UK) LI...	02602874	31.10.2016	N
VICTORY PROPERTY LIMITED	10723182	-	N

Mortgage Details

Mortgage Type:	RENT DEPOSIT DEED
Date Charge Created:	09/04/09
Date Charge Registered:	25/04/09
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DARRYL MARK MURPHY GRAHAM JOHN MCMULLEN JUSTIN DAVID HILL AND ROBIN MALCOLM JEST (TRUSTEES OF T
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE
Details:	A RENT DEPOSIT OF £2,224.00 PLUS VAT.
Mortgage Type:	LEGAL MORTGAGE
Date Charge Created:	03/04/00
Date Charge Registered:	05/04/00
Date Charge Satisfied:	16/04/05
Status:	SATISFIED
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:	F/HOLD - 7 EDEN COURT EDEN WAY LEIGHTONBUZZARD BEDFORDSHIRE WITH THE BENEFIT OF ALL RIGHTS LICENCESGUARANTEES RENT DEPOSITS CONTRACTS DEEDS UNDERTAKINGS AND WARRANTIES RELATINGTO THE PROPERTY ANY SHARES OR MEMBERSHIP RIGHTS IN ANY MANAGEMENT COMPANY FOR THE PROPERTY ANY GOODWILL OF ANY BUSINESSFROMTIME TO TIME CARRIED ON AT THE PROPERTY ANY RENTAL AND OTHER MONEY PAYABLEUNDER ANY LEASE LICENCE OR OTHER INTEREST CREATED IN RESPECT OF THE PROPERTY AND ALL OTHER PAYMENTS WHATEVER IN RESPECTOF THEPROPERTY

Mortgage Type:	DEBENTURE
Date Charge Created:	13/03/00
Date Charge Registered:	29/03/00
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
Mortgage Type:	FIXED EQUITABLE CHARGE
Date Charge Created:	04/03/94
Date Charge Registered:	18/03/94
Date Charge Satisfied:	20/05/06
Status:	SATISFIED
Person(s) Entitled:	GRIFFIN FACTORS LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ALL BOOK DEBTS INVOICE DEBTS ACCOUNTS NOTES BILLS ACCEPTANCES AND/OR OTHER FORMS OF OBLIGATION THE SUBJECT OF A FACTORING AGREEMENT, ALL TITLE PROPERTY RIGHT OR INTEREST IN ANY GOODS & ALL GUARANTEESINDEMNITIES INSURANCES OR SECURITIES SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	FIXED AND FLOATING CHARGE
Date Charge Created:	19/08/93
Date Charge Registered:	25/08/93
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	MIDLAND 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 UNCALLED CAPITAL GOODWILL BOOKDEBTS AND PATENTS

Previous Director/Company Secretaries

Name	Current Active Appointments			Previous Appointments	Dissolved Companies
Ian Malcolm Aird	0			2	13
Ian Malcolm Aird	0			2	13
Hasnain Versi	0			2	3
Hasnain Versi	0			2	3
George Berwick Scott	0			2	2
Gordon Henry Ralph	0			1	1
Donald Ross Ferguson	0			1	1
Graham David Watson	0			1	1
Philip Kenneth Louis Surridge	0			1	1
CO FORM (NOMINEES) LIMITED	0			386	2495
CO FORM (SECRETARIES) LIMITED	0			357	2220
Total Persons With Significant Control		2	Total Statements			0
Active		2	Active			0
Ceased		0	Ceased			0

Active Persons With Significant Control

Name	Mr Alan Penman	Kind	Individual Person With Significant Control
Address	43 Station Road, Cheddington, Leighton Buzzard, Bucks	Country Of Residence	United Kingdom
Post Code	LU7 0SG	Nationality	British
Date of Birth	01/1951	Notified On	06/04/2016
Nature Of Control	Ownership Of Shares 25 To 50 Percent,Voting Rights 50 To 75 Percent,Right To Appoint And Remove Directors
Name	Mrs Jacqueline Penman	Kind	Individual Person With Significant Control
Address	43 Station Road, Cheddington, Leighton Buzzard, Bucks	Country Of Residence	United Kingdom
Post Code	LU7 0SG	Nationality	British
Date of Birth	02/1962	Notified On	06/04/2016
Nature Of Control	Ownership Of Shares 25 To 50 Percent,Voting Rights 25 To 50 Percent

Ceased Persons With Significant Control

No Ceased Persons With Significant Control To Display

Active Statements

No Active Statements To Display

Ceased Statements

No Ceased Statements To Display

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.90
UK Pound	1	INR 90.31
Euro	1	INR 80.17
GBP	1	INR 90.51

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	TPT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.