MIRA INFORM REPORT

Report No. :	487978
Report Date :	24.01.2018

IDENTIFICATION DETAILS

Name :	NOVCA NETWORKS LIMITED
Registered Office :	26 Upper Pembroke Street, Dublin 2, 662881
Country :	Ireland
Financials (as on) :	31.03.2016
Date of Incorporation :	08.04.2015
Com. Reg. No.:	IE559861
Legal Form :	Ltd - Private Company Limited By Shares
Line of Business :	Market Research And Public Opinion Polling
No. of Employees :	Not Available

RATING & COMMENTS

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

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
Payment Behaviour :	Unknown
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 (30.06.2017)	Current Rating (30.09.2017)
Ireland	A2	A2

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

IRELAND - ECONOMIC OVERVIEW

Ireland is a small, modern, trade-dependent economy. Ireland was among the initial group of 12 EU nations that began circulating the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity dropped sharply during the world financial crisis and the subsequent collapse of its domestic property market and construction industry. Faced with sharply reduced revenues and a burgeoning budget deficit from efforts to stabilize its fragile banking sector, the Irish Government introduced the first in a series of draconian budgets in 2009. These measures were not sufficient to stabilize Ireland’s public finances. In 2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of GDP. In late 2010, the former COWEN government agreed to a $92 billion loan package from the EU and IMF to help Dublin recapitalize Ireland’s banking sector and avoid defaulting on its sovereign debt. In March 2011, the KENNY government intensified austerity measures to meet the deficit targets under Ireland's EU-IMF bailout program.

In late 2013, Ireland formally exited its EU-IMF bailout program, benefiting from its strict adherence to deficit-reduction targets and success in refinancing a large amount of banking-related debt. In 2014, the economy rapidly picked up and GDP grew by 25% in 2015. In late 2014, the government introduced a fiscally neutral budget, marking the end of the austerity program. Continued growth of tax receipts has allowed the government to lower some taxes and increase public spending while keeping to its deficit-reduction targets. In 2015, GDP growth exceeded 26%. This increase reflected one-off statistical revisions, multinational corporate restructurings, and the aircraft leasing sector, rather than gains in the on the ground economy. Growth moderated to around 4.1% in 2017, but the recovering economy assisted lowering the deficit to 0.6% of GDP.

In the wake of the collapse of the construction sector and the downturn in consumer spending and business investment, the export sector, dominated by foreign multinationals, has become an even more important component of Ireland's economy. Ireland’s low corporation tax of 12.5% and a talented pool of high-tech laborers have been key factors in encouraging business investment. Loose tax residency requirements made Ireland a common destination for international firms seeking to avoid taxation. In 2014, amid growing international pressure, the government announced it would phase in more stringent tax laws, effectively closing a commonly used loophole.

Source : CIA

Company Name and address

Company Name: NOVCA NETWORKS LIMITED

Company No: IE559861

Registered Address: 26 UPPER PEMBROKE STREET DUBLIN 2 662881

Company Summary

Registered Address 26 UPPER PEMBROKE STREET
DUBLIN 2
662881

Trading Address

Website Address -

Eircode D02X361

VAT Number -

Telephone Number -

Fax Number

TPS -

FPS Yes

Incorporation Date 08/04/2015

Previous Name

Type LTD - PRIVATE COMPANY LIMITED BY SHARES

FTSE Index -

Date of Change -

Filing Date of Accounts -

Currency EUR

Share Capital €100

SIC07 73200

Charity Number -

SIC07 Description MARKET RESEARCH AND PUBLIC OPINION POLLING

Principal Activity

Nace Code -

Nace Description -

Additional Information

CJ's 0 (€0)

No CJ Information To Display

Ultimate Holding Company -

Accountant BRENDAN J. MCLOUGHLIN & CO.

Mortgages 0

Group 0 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder's Funds Employees

31/03/2016 - - €185,684 -

- - - - -

- - - - -

Mortgage Summary

Total Mortgage 0

Outstanding 0

Satisfied 0

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade €0

Commentary

No exact match CCJs are recorded against the company.

The company's credit rating has increased from 8 to 69 which indicates good creditworthiness.

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.

CJ

Total Number of Exact CJs -	0	Total Value of Exact CJs -	€0
Total Number of Possible CJs -	0	Total Value of Possible CJs -	€0
Total Number of Satisfied CJs -	0	Total Value of Satisfied CJs -	€0

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Total Current Directors	2	Total Current Secretaries	1
Total Previous Directors / Company Secretaries	0

Current Directors

Title		Function	Director
Name	DUDLEY JOHN BRENNER	Nationality
Date of Birth	11/1968	Present Appointments	5
Latest Address	CALLE ESCRITOR FRANQUELO ROMERO 17, MALAGA 29190, SPAIN	Appointment Date	08/04/2015
Eircode
Other Actions	View Director Report
Title		Function	Director
Name	GLORIA INES ZULUAGA GIRALDO	Nationality
Date of Birth	07/1971	Present Appointments	3
Latest Address	CALLE ESCRITOR FRANQUELO ROMERO 17, MALAGA 29190, SPAIN	Appointment Date	08/04/2015
Eircode
Other Actions	View Director Report

Current Company Secretary

Title		Function	Company Secretary
Name	DUDLEY JOHN BRENNER	Nationality
Date of Birth	11/1968	Present Appointments	5
Latest Address	CALLE ESCRITOR FRANQUELO ROMERO 17, MALAGA 29190, SPAIN	Appointment Date	08/04/2015
Eircode
Other Actions

Authorised Person

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
DUDLEY BRENNER	EUR	100	ORDINARY	1	100
1

Financials

Profit & Loss

	Date Of Accounts	31/03/16	(%)	-	(%)	-	(%)	-	(%)	-
	Weeks	52	(%)	-	(%)	-	(%)	-	(%)	-
	Currency	EUR	(%)	-	(%)	-	(%)	-	(%)	-
	Consolidated A/cs	N	(%)	-	(%)	-	(%)	-	(%)	-
	Turnover	-	-	-	-	-	-	-	-	-
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	-	-	-	-	-	-	-	-	-
	Gross Profit	-	-	-	-	-	-	-	-	-
	Wages & Salaries	-	-	-	-	-	-	-	-	-
	Directors Emoluments	-	-	-	-	-	-	-	-	-
	Operating Profit	-	-	-	-	-	-	-	-	-
	Depreciation	-	-	-	-	-	-	-	-	-
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/03/16	(%)	-	(%)	-	(%)	-	(%)	-
	Tangible Assets	0	-	-	-	-	-	-	-	-
	Intangible Assets	0	-	-	-	-	-	-	-	-
	Total Fixed Assets	0	-	-	-	-	-	-	-	-
	Stock	0	-	-	-	-	-	-	-	-
	Trade Debtors	0	-	-	-	-	-	-	-	-
	Cash	€185,684	-	-	-	-	-	-	-	-
	Other Debtors	0	-	-	-	-	-	-	-	-
	Miscellaneous Current Assets	0	-	-	-	-	-	-	-	-
	Total Current Assets	€185,684	-	-	-	-	-	-	-	-
	Trade Creditors	0	-	-	-	-	-	-	-	-
	Bank Loans & Overdrafts	0	-	-	-	-	-	-	-	-
	Other Short Term Finance	0	-	-	-	-	-	-	-	-
	Miscellaneous Current Liabilities	0	-	-	-	-	-	-	-	-
	Total Current Liabilities	0	-	-	-	-	-	-	-	-
	Bank Loans & Overdrafts and LTL	0	-	-	-	-	-	-	-	-
	Other Long Term Finance	0	-	-	-	-	-	-	-	-
	Total Long Term Liabilities	0	-	-	-	-	-	-	-	-

.

Capital & Reserves

	Date Of Accounts	31/03/16	(%)	-	(%)	-	(%)	-	(%)	-
	Called Up Share Capital	€100	-	-	-	-	-	-	-	-
	P & L Account Reserve	€185,584	-	-	-	-	-	-	-	-
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	€185,684	-	-	-	-	-	-	-	-

Other Financial Items

	Date Of Accounts	31/03/16	(%)	-	(%)	-	(%)	-	(%)	-
	Net Worth	€185,684	-	-	-	-	-	-	-	-
	Working Capital	€185,684	-	-	-	-	-	-	-	-
	Total Assets	€185,684	-	-	-	-	-	-	-	-
	Total Liabilities	-	-	-	-	-	-	-	-	-
	Net Assets	€185,684	-	-	-	-	-	-	-	-

Cash Flow

	Date Of Accounts	31/03/16	(%)	-	(%)	-	(%)	-	(%)	-
	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	31/03/16	(%)	-	(%)	-	(%)	-	(%)	-
	Contingent Liability	NO	-	-	-	-	-	-	-	-
	Capital Employed	€185,684	-	-	-	-	-	-	-	-
	Number of Employees	-	-	-	-	-	-	-	-	-
	Accountants	BRENDAN J. MCLOUGHLIN & CO.
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	31/03/16	-	-	-	-
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	-	-	-	-	-
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	0	-	-	-	-
	Equity in %	100	-	-	-	-
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	-	-	-	-	-
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	-	-	-	-	-
	Total Debt Ratio	-	-	-	-	-
	Stock Turnover Ratio %	-	-	-	-	-
	Return on Net Assets Employed %	-	-	-	-	-

Event History View Documents

Date	Description
08/12/2017	Annual Returns
24/01/2017	New Accounts Filed
23/01/2017	Annual Returns
23/12/2015	Annual Returns
08/04/2015	New Board Member (GLORIA INES ZULUAGA GIRALDO) appointed
08/04/2015	New Company Secretary (DUDLEY JOHN BRENNER) appointed
08/04/2015	New Board Member (DUDLEY JOHN BRENNER) appointed

Previous Company Names

No Previous Names found

Received Documents

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

Statistics

Group	0 companies
Linkages	0 companies
Countries	In 0 countries

Previous Director/Company Secretaries

No Previous Director Details

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.77
UK Pound	1	INR 89.20
Euro	1	INR 78.22
Euro	1	INR 78.53

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

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	KET

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.