3decades

MIRA INFORM REPORT

Report No. :	488536
Report Date :	30.01.2018

IDENTIFICATION DETAILS

Name :	ZAPP (GB) LIMITED

Formerly Known As :	WESTIG (U.K.) LIMITED

Registered Office :	Unit 1 thorncliffe Distribution Centre chapeltowns 35 2pw

Country :	United Kingdom

Financials (as on) :	31.12.2016

Date of Incorporation :	24/07/1984

Com. Reg. No.:	01835297

Legal Form :	Private limited with Share Capital

Line of Business :	· Agents specialized in the sale of other particular products · Specialist metal stockholders.

No. of Employees :	9

RATING & COMMENTS

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

MIRA’s Rating :

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

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

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

United Kingdom

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 name and address

Company Name: ZAPP (GB) LIMITED

Company No: 01835297

Registered Address: UNIT 1THORNCLIFFE DISTRIBUTION CENTRECHAPELTOWNS35 2PW

Company Summary

Registered Address UNIT 1
THORNCLIFFE DISTRIBUTION CENTRE
CHAPELTOWN
S35 2PW

Trading Address Unit 1
Brookdale Rd, Thorncliffe Park E
Chapeltown
Sheffield, South Yorkshire
S35 2PW

Website Address http://www.zapp.com

Telephone Number 01142467823

Fax Number

TPS Yes

FPS Yes

Incorporation Date 24/07/1984

Previous Name WESTIG (U.K.) LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 13/02/2001

Filing Date of Accounts 25/04/2017

Currency GBP

Share Capital £50,000

SIC07 46180

Charity Number -

SIC07 Description AGENTS SPECIALIZED IN THE SALE OF OTHER PARTICULAR PRODUCTS

Principal Activity Specialist metal stockholders.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company ZAPP AG

Accountant -

Mortgages 1

Trade Debtors -

Group 5 companies

Linkages 10 companies

Countries In 1 countries

Key Financials

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

31/12/2016 £9,925,751 -£429,450 £2,889,687 9

31/12/2015 £10,025,668 -£25,495 £3,236,853 9

31/12/2014 £11,071,140 £640,798 £3,255,515 8

Mortgage Summary

Total Mortgage 1

Outstanding 0

Satisfied 1

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 3

Total Value of Documented Trade £7,419

Commentary

This company has been treated as a Medium company in respect of the rating/limit generated.
This company's ratio of total liabilities to total assets indicates the presence of moderate equity funding.
This company's return on total assets employed ratio indicates a poor or negative return on assets.
This company has made late payments on a medium percentage of invoices.
This company's bank loans and overdrafts (less cash) account for a high percentage of short term liabilities.

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 -	-

Current Directors

Title	Mr	Function	Director
Name	Mark Richard Wragg	Nationality	British
Date of Birth	12/1973	Present Appointments	3
Latest Address	11 Stannington Rise, Stannington, Sheffield	Appointment Date	30/06/2007
Post Code	S6 5HH
Title	Mr	Function	Director
Name	Michael Franz Foidl	Nationality	German
Date of Birth	08/1957	Present Appointments	1
Latest Address	Schlehenstr. 4, Moers, 47445	Appointment Date	30/06/2007
Post Code

Current Company Secretary

Title	Mr	Function	Company Secretary
Name	Mark Richard Wragg	Nationality	British
Date of Birth	12/1973	Present Appointments	5
Latest Address	11 Stannington Rise, Stannington, Sheffield	Appointment Date	30/06/2007
Post Code	S6 5HH

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
ZAPP PRECISION METALS GMBH	GBP	50,000	ORDINARY	1	100

Financials

Profit & Loss

Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£9,925,751	-1%	£10,025,668	-9.4%	£11,071,140	13.1%	£9,787,308	3.4%	£9,469,644
Export	£4,954,039	11.6%	£4,439,545	-8.9%	£4,875,379	30.9%	£3,725,485	-4.6%	£3,904,388
Cost of Sales	£8,682,497	-2.4%	£8,891,848	-6.4%	£9,503,042	13.8%	£8,350,541	-1.3%	£8,462,757
Gross Profit	£1,243,254	9.7%	£1,133,820	-27.7%	£1,568,098	9.1%	£1,436,767	42.7%	£1,006,887
Wages & Salaries	£413,717	-2.4%	£423,724	26.2%	£335,684	54%	£217,949	15.5%	£188,716
Directors Emoluments	£104,015	-1.4%	£105,483	20.8%	£87,346	37.3%	£63,600	3.3%	£61,580
Operating Profit	-£302,242	-368.2%	£112,676	-84.3%	£717,045	-15.3%	£846,969	48.9%	£569,006
Depreciation	£40,688	-8.5%	£44,488	-3.3%	£45,994	2.8%	£44,758	590.6%	£6,481
Audit Fees	£17,634	47%	£12,000	20%	£10,000	5%	£9,525	-6.8%	£10,220
Interest Payments	£127,515	-7.7%	£138,171	81.2%	£76,247	44.5%	£52,769	-39.4%	£87,043
Pre Tax Profit	-£429,450	-999.9%	-£25,495	-104%	£640,798	-19.3%	£794,200	64.8%	£481,963
Taxation	£82,284	999.9%	£6,833	105.1%	-£134,798	25.8%	-£181,770	-55.3%	-£117,013
Profit After Tax	-£347,166	-999.9%	-£18,662	-103.7%	£506,000	-17.4%	£612,430	67.8%	£364,950
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-£347,166	-999.9%	-£18,662	-103.7%	£506,000	-17.4%	£612,430	67.8%	£364,950

Balance Sheet

Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
Tangible Assets	£200,222	-16.4%	£239,476	-6.9%	£257,210	-12.4%	£293,652	999.9%	£17,273
Intangible Assets	0	-	0	-100%	£958	-50%	£1,915	-	0
Total Fixed Assets	£200,222	-16.4%	£239,476	-7.2%	£258,168	-12.7%	£295,567	999.9%	£17,273
Stock	£8,604,250	-7.9%	£9,338,893	70.5%	£5,477,840	14.6%	£4,781,924	8.1%	£4,422,518
Trade Debtors	£2,139,962	5.5%	£2,029,008	-28.3%	£2,828,814	48%	£1,911,591	22%	£1,567,235
Cash	£46,243	-73.7%	£176,112	102.6%	£86,909	-3.9%	£90,414	-64.9%	£257,644
Other Debtors	£581,362	999.9%	£50,105	-83.1%	£295,965	249.4%	£84,711	-36.4%	£133,144
Miscellaneous Current Assets	£1,014	-	0	-	0	-	0	-	0
Total Current Assets	£11,372,831	-1.9%	£11,594,118	33.4%	£8,689,528	26.5%	£6,868,640	7.6%	£6,380,541
Trade Creditors	£689,670	-4.8%	£724,509	-54.9%	£1,606,715	59.2%	£1,009,283	-11.8%	£1,144,293
Bank Loans & Overdrafts	£3,627,288	-	0	-	0	-	0	-	0
Other Short Term Finance	£4,260,903	-44.4%	£7,658,870	91.7%	£3,994,263	23.3%	£3,238,355	6.5%	£3,041,992
Miscellaneous Current Liabilities	£105,505	-40.5%	£177,171	267.7%	£48,180	-57.8%	£114,194	58.6%	£72,012
Total Current Liabilities	£8,683,366	1.4%	£8,560,550	51.5%	£5,649,158	29.5%	£4,361,832	2.4%	£4,258,297
Bank Loans & Overdrafts and LTL	£3,627,288	999.9%	£36,191	-15.9%	£43,023	-18.6%	£52,860	999.9%	£2,432
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	0	-100%	£36,191	-15.9%	£43,023	-18.6%	£52,860	999.9%	£2,432

Capital & Reserves

Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
Called Up Share Capital	£50,000	-	£50,000	-	£50,000	-	£50,000	-	£50,000
P & L Account Reserve	£2,839,687	-10.9%	£3,186,853	-0.6%	£3,205,515	18.7%	£2,699,515	29.3%	£2,087,085
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£2,889,687	-10.7%	£3,236,853	-0.6%	£3,255,515	18.4%	£2,749,515	28.7%	£2,137,085

Other Financial Items

Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
Net Worth	£2,889,687	-10.7%	£3,236,853	-0.5%	£3,254,557	18.5%	£2,747,600	28.6%	£2,137,085
Working Capital	£2,689,465	-11.3%	£3,033,568	-0.2%	£3,040,370	21.3%	£2,506,808	18.1%	£2,122,244
Total Assets	£11,573,053	-2.2%	£11,833,594	32.3%	£8,947,696	24.9%	£7,164,207	12%	£6,397,814
Total Liabilities	£8,683,366	1%	£8,596,741	51%	£5,692,181	28.9%	£4,414,692	3.6%	£4,260,729
Net Assets	£2,889,687	-10.7%	£3,236,853	-0.6%	£3,255,515	18.4%	£2,749,515	28.7%	£2,137,085

Cash Flow

Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
Net Cashflow from Operations	£1,027,004	146.6%	-£2,205,083	-223.7%	-£681,155	-	-	-	-
Net Cashflow before Financing	£921,885	138.7%	-£2,379,156	-244.5%	-£690,707	-	-	-	-
Net Cashflow from Financing	-£4,679,042	-289.6%	£2,468,359	259.2%	£687,202	-	-	-	-
Increase in Cash	-£3,757,157	-999.9%	£89,203	999.9%	-£3,505	-	-	-	-

Miscellaneous

Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£2,889,687	-11.7%	£3,273,044	-0.8%	£3,298,538	17.7%	£2,802,375	31%	£2,139,517
Number of Employees	9	-	9	12.5%	8	33.3%	6	-	6
Accountants
Auditors	GREGORY WILDMAN
Auditor Comments	The audit report contains no adverse comments
Bankers
Bank Branch Code

Ratios

Date Of Accounts	31/12/16	31/12/15	31/12/14	31/12/13	31/12/12
Pre-tax profit margin %	-4.33	-0.25	5.79	8.11	5.09
Current ratio	1.31	1.35	1.54	1.57	1.50
Sales/Net Working Capital	3.69	3.30	3.64	3.90	4.46
Gearing %	125.50	1.10	1.30	1.90	0.10
Equity in %	25	27.40	36.40	38.40	33.40
Creditor Days	25.29	26.30	52.82	37.53	43.98
Debtor Days	78.47	73.66	93	71.09	60.24
Liquidity/Acid Test	0.31	0.26	0.56	0.47	0.45
Return On Capital Employed %	-14.86	-0.77	19.42	28.34	22.52
Return On Total Assets Employed %	-3.71	-0.21	7.16	11.08	7.53
Current Debt Ratio	3	2.64	1.73	1.58	1.99
Total Debt Ratio	3	2.65	1.74	1.60	1.99
Stock Turnover Ratio %	86.68	93.14	49.47	48.85	46.70
Return on Net Assets Employed %	-14.86	-0.78	19.68	28.88	22.55

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
06/12/2017	Payment Data Update Received
05/05/2017	Payment Data Update Received
04/05/2017	New Accounts Filed
04/05/2017	New Accounts Filed
10/04/2017	Confirmation Statement
05/05/2016	New Accounts Filed
05/05/2016	New Accounts Filed
29/04/2016	Annual Returns
24/04/2015	New Accounts Filed
24/04/2015	New Accounts Filed
22/04/2015	Annual Returns
04/03/2015	Change in Reg.Office
04/03/2015	Change of Company Postcode
02/05/2014	New Accounts Filed
02/05/2014	New Accounts Filed

Previous Company Names

Date	Previous Name
13/02/2001	WESTIG (U.K.) LIMITED
19/09/1984	CROPSHAW LIMITED

Writ Details

No writs found

Statistics

Group	5 companies
Linkages	10 companies
Countries	In 1 countries

Summary

Holding Company	-
Ownership Status	Wholly Owned
Ultimate Holding Company	ZAPP AG

Group StructureFull

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
ZAPP AG	HRB 44176	31.12.2015	Y	€339,709,000
ROBERT ZAPP GMBH & CO....	HRA 15604	-	-
ZAPP PRECISION METAL...	HRB 4715	-	-
ZAPP PRECISION METALS...	HRB 4715	-	-
ZAPP (GB) LIMITED	01835297	31.12.2016	N	£9,925,751

Mortgage Details

Mortgage Type:	DEBENTURE
Date Charge Created:	21/03/86
Date Charge Registered:	27/03/86
Date Charge Satisfied:	06/03/93
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS 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

Creditor Details

	Total Number	Total Value
Trade Creditors	0	-
No Creditor Data

Trade Debtors / Bad Debt Detail

	Total Number of Documented Trade	Total Value of Documented Trade
Trade Debtors	3	£7,419
Company Name		Amount	Statement Date
Alliance Valves & Piping Supplies Manufacturing Ltd		£5,043	07/07/2016
Dixons Surgical Instruments Limited		£1,551	19/10/2017
R M G Machining Limited		£825	09/01/2012

Previous Director/Company Secretaries

Name	Current Active Appointments			Previous Appointments	Dissolved Companies
Stanley Frederick Swingler	0			1	0
Wilhelm Wolfgang Josef Berends	0			1	0
Alan Crabtree	0			1	0
Walter Grunewald	0			1	0
Heinz-Juergen Osing	0			1	0
Wolfgang Scafer	0			1	0
Theodor Hermann Ernst Wilhelm Meyer	0			1	0
Barrington James Morley	0			3	0
Barrington James Morley	0			3	0
David Hardacre	0			1	1
David William Barclay Ware	10			29	59
Heinrich Raimund Schunk	0			1	0
Total Persons With Significant Control		0	Total Statements			1
Active		0	Active			1
Ceased		0	Ceased			0

Active Persons With Significant Control

No Active Persons With Significant Control To Display

Ceased Persons With Significant Control

No Ceased Persons With Significant Control To Display

Active Statements

Statement	The company knows or has reasonable cause to believe that there is no registrable person or registrable relevant legal entity in relation to the company
Notified On	20/03/2017

Ceased Statements

No Ceased Statements To Display
Average Invoice Value	£1100.77
Invoices available	61
Paid	57
Outstanding	4

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	26	21	1	0	9
Outstanding	0	2	0	1	1

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.54
UK Pound	1	INR 89.82
Euro	1	INR 78.86
GBP	1	INR 89.96

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

INFORMATION DETAILS

Analysis Done by :	NIS

Report Prepared by :	DNS

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.

Name	Number	Latest Key Financials	Turnover
EURO-TITAN HANDELS GMBH	HRB 62748	31.10.2008
ZAPP PRECISION STRIP GMBH	HRB 60271	30.09.2008
ZAPP SYSTEMS GMBH	HRB 44175	-
ZAPP MATERIALS ENGINEERING GMBH	HRB 44178	-
ZAPP IMMOBILIEN-VERWALTUNGS-GMBH	HRB 51375	-
ZAPP MEDICAL ALLOYS GMBH	HRB 44179	-
ZAPP IMMOBILIEN GMBH & CO. KG	HRA 19045	-
FERD. WAGNER GMBH	HRB 704254	-
ZAPP PRECISION WIRE GMBH	HRB 61184	-
ARGESTE EDELSTAHLVERARBEITUNG BETEILIGUNGS-GMBH	HRB 44411	-