MIRA INFORM REPORT

Report No. :	493491
Report Date :	03.03.2018

IDENTIFICATION DETAILS

Name :	S I S (SCIENCE IN SPORT) LIMITED
Formerly Known As :	VALUEDREAM LIMITED
Registered Office :	4th Floor, 16-18 Hatton Garden, Farringdon, London EC1N 8AT
Country :	United Kingdom
Financials (as on) :	31.12.2016
Date of Incorporation :	26.08.1992
Com. Reg. No.:	02742833
Legal Form :	Private limited with Share Capital
Line of Business :	· Manufacture of homogenized food preparations and dietetic food · Develops, licenses and markets scientifically proven sportd nutrition technologies.
No. of Employees :	80

RATING & COMMENTS

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

MIRA’s Rating :

C

Credit Rating	Explanation	Rating Comments
C	Medium High Risk	Business dealings permissible preferably on secured basis

Status :	Moderate
Payment Behaviour :	Slow
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 NAME AND ADDRESS

Company Name: S I S (SCIENCE IN SPORT) LIMITED

Company No: 02742833

Company Status: Active - Accounts Filed

Registered Address: 4TH FLOOR, 16-18 HATTON GARDENFARRINGDONLONDONEC1N 8AT

Company Summary

Registered Address 4TH FLOOR, 16-18 HATTON GARDEN, FARRINGDON, LONDON EC1N 8AT

Trading Address 4TH 16-18 Hatton Garden, Farringdon London EC1N 8AT

Website Address http://www.scienceinsport.com

Telephone Number 08000519100

Fax Number --

TPS No

FPS Yes

Incorporation Date 26/08/1992

Previous Name VALUEDREAM LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 12/10/1992

Filing Date of Accounts 28/09/2017

Currency GBP

Share Capital £599,383

SIC07 10860

Charity Number -

SIC07 Description MANUFACTURE OF HOMOGENIZED FOOD PREPARATIONS AND DIETETIC FOOD

Principal Activity Develops, licenses and markets scientifically proven sportd nutrition technologies. T/O = Revenue.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company SCIENCE IN SPORT PLC

Accountant -

Mortgages 4

Group 2 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

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

31/12/2016 £12,554,000 -£1,682,000 -£427,000 80

31/12/2015 £9,446,000 -£1,731,000 -£391,000 65

31/12/2014 £6,252,000 -£1,730,000 £161,000 69

Mortgage Summary

Total Mortgage 4

Outstanding 3

Satisfied 1

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 Medium company in respect of the rating/limit generated.

This company's ratio of total liabilities to total assets indicates that assets are funded through debt rather than equity.

This company's return on total assets employed ratio indicates a negative return on assets.

This company trades in an industry with a higher 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	0
Total Previous Directors / Company Secretaries	18	Total Person's With Significant Control	3

Current Directors

Title	Mr	Function	Director
Name	Stephen Nigel Moon	Nationality	British
Date of Birth	05/1957	Present Appointments	2
Latest Address	4th Floor, 16-18 Hatton Garden Farringdon, London	Appointment Date	24/06/2011
Post Code	EC1N 8AT
Title	Mrs	Function	Director
Name	Elizabeth Janet Lake	Nationality	British
Date of Birth	09/1967	Present Appointments	5
Latest Address	4th Floor, 16-18 Hatton Garden Farringdon, London	Appointment Date	18/07/2016
Post Code	EC1N 8AT

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
SCIENCE IN SPORT PLC	GBP	599,383	ORDINARY	1	100

FINANCIALS

Profit & Loss

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/03/14	(%)	31/03/13
	Weeks	52	(%)	52	(%)	39	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
	Turnover	£12,554,000	32.9%	£9,446,000	51.1%	£6,252,000	-8.7%	£6,846,809	24%	£5,522,240
	Export	£3,184,000	77.9%	£1,790,000	86.3%	£961,000	-	-	-	-
	Cost of Sales	£5,068,000	29.1%	£3,927,000	51.7%	£2,589,000	-12.2%	£2,950,365	20.8%	£2,441,621
	Gross Profit	£7,486,000	35.6%	£5,519,000	50.7%	£3,663,000	-6%	£3,896,444	26.5%	£3,080,619
	Wages & Salaries	£4,478,000	26.7%	£3,533,000	12.6%	£3,139,000	74.4%	£1,799,587	23.9%	£1,452,618
	Directors Emoluments	£1,119,000	52%	£736,000	-12.4%	£840,000	345.2%	£188,687	5.9%	£178,164
	Operating Profit	-£1,679,000	2.8%	-£1,728,000	0.1%	-£1,730,000	-83.1%	-£944,875	-417.5%	-£182,580
	Depreciation	£261,000	-5.8%	£277,000	52.2%	£182,000	-30.8%	£263,064	54.8%	£169,908
	Audit Fees	£24,000	9.1%	£22,000	4.8%	£21,000	5%	£20,000	100%	£10,000
	Interest Payments	£4,000	-20%	£5,000	25%	£4,000	-28.7%	£5,609	71.3%	£3,275
	Pre Tax Profit	-£1,682,000	2.8%	-£1,731,000	-0.1%	-£1,730,000	-82.3%	-£948,901	-410.6%	-£185,855
	Taxation	£149,000	-34.4%	£227,000	-40.4%	£381,000	74.5%	£218,310	146.4%	£88,617
	Profit After Tax	-£1,533,000	-1.9%	-£1,504,000	-11.5%	-£1,349,000	-84.6%	-£730,591	-651.3%	-£97,238
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-£1,533,000	-1.9%	-£1,504,000	-11.5%	-£1,349,000	-84.6%	-£730,591	-651.3%	-£97,238

BALANCE SHEET

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/03/14	(%)	31/03/13
	Tangible Assets	£791,000	20.4%	£657,000	-9.9%	£729,000	-22.6%	£941,680	20.5%	£781,340
	Intangible Assets	£884,000	81.9%	£486,000	92.1%	£253,000	-	0	-	0
	Total Fixed Assets	£1,675,000	46.5%	£1,143,000	16.4%	£982,000	4.3%	£941,680	20.5%	£781,340
	Stock	£1,922,000	32.7%	£1,448,000	0.9%	£1,435,000	40.1%	£1,024,227	12.1%	£913,387
	Trade Debtors	£1,499,000	57.5%	£952,000	6.6%	£893,000	-15.8%	£1,060,451	44.3%	£735,024
	Cash	£6,012,000	945.6%	£575,000	-71.6%	£2,026,000	221.2%	£630,731	354.3%	£138,841
	Other Debtors	£2,099,000	606.7%	£297,000	99.3%	£149,000	-76.7%	£639,401	22%	£524,262
	Miscellaneous Current Assets	£1,086,000	15.9%	£937,000	32%	£710,000	-	0	-	0
	Total Current Assets	£12,618,000	199.8%	£4,209,000	-19.3%	£5,213,000	55.4%	£3,354,810	45.1%	£2,311,514
	Trade Creditors	£1,013,000	34%	£756,000	39.7%	£541,000	-27.8%	£749,353	-15.8%	£889,541
	Bank Loans & Overdrafts	0	-	0	-	0	-100%	£64,774	0%	£64,749
	Other Short Term Finance	£12,412,000	191.6%	£4,257,000	-1%	£4,300,000	108.7%	£2,060,037	179.1%	£738,168
	Miscellaneous Current Liabilities	£1,295,000	77.4%	£730,000	-36.2%	£1,144,000	22.6%	£933,483	65.4%	£564,381
	Total Current Liabilities	£14,720,000	156.3%	£5,743,000	-4%	£5,985,000	57.2%	£3,807,647	68.7%	£2,256,839
	Bank Loans & Overdrafts and LTL	0	-	0	-100%	£49,000	-69.7%	£161,896	-28.6%	£226,620
	Other Long Term Finance	0	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	0	-	0	-100%	£49,000	-49.5%	£97,122	-40%	£161,871

CAPITAL & RESERVES

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/03/14	(%)	31/03/13
	Called Up Share Capital	£599,000	-	£599,000	-	£599,000	-0.1%	£599,383	296.4%	£151,220
	P & L Account Reserve	-£4,593,000	-50.1%	-£3,060,000	-96.7%	-£1,556,000	-649.3%	-£207,662	-139.7%	£522,924
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	£3,567,000	72.3%	£2,070,000	85.2%	£1,118,000	-	-	-	-
	Shareholder Funds	-£427,000	-9.2%	-£391,000	-342.9%	£161,000	-58.9%	£391,721	-41.9%	£674,144

OTHER FINANCIAL ITEMS

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/03/14	(%)	31/03/13
	Net Worth	-£1,311,000	-49.5%	-£877,000	-853.3%	-£92,000	-123.5%	£391,721	-41.9%	£674,144
	Working Capital	-£2,102,000	-37%	-£1,534,000	-98.7%	-£772,000	-70.5%	-£452,837	-928.2%	£54,675
	Total Assets	£14,293,000	167.1%	£5,352,000	-13.6%	£6,195,000	44.2%	£4,296,490	38.9%	£3,092,854
	Total Liabilities	£14,720,000	156.3%	£5,743,000	-4.8%	£6,034,000	54.5%	£3,904,769	61.4%	£2,418,710
	Net Assets	-£427,000	-9.2%	-£391,000	-342.9%	£161,000	-58.9%	£391,721	-41.9%	£674,144

CASH FLOW

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/03/14	(%)	31/03/13
	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-	-	-	-	-

MISCELLANEOUS

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/03/14	(%)	31/03/13
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	-£427,000	-9.2%	-£391,000	-286.2%	£210,000	-57%	£488,843	-41.5%	£836,015
	Number of Employees	80	23.1%	65	-5.8%	69	25.5%	55	14.6%	48
	Accountants
	Auditors	MOORE STEPHENS LLP
	Auditor Comments	The audit report contains no adverse comments
	Bankers	HSBC BANK PLC
	Bank Branch Code	40-13-15

RATIOS

	Date Of Accounts	31/12/16	31/12/15	31/12/14	31/03/14	31/03/13
	Pre-tax profit margin %	-13.40	-18.33	-27.67	-13.86	-3.37
	Current ratio	0.86	0.73	0.87	0.88	1.02
	Sales/Net Working Capital	-5.97	-6.16	-8.10	-15.12	101
	Gearing %	0	0	30.40	41.30	33.60
	Equity in %	-3.20	-8	2.70	9.10	21.80
	Creditor Days	29.37	29.13	23.62	39.83	58.63
	Debtor Days	43.46	36.68	38.99	56.37	48.44
	Liquidity/Acid Test	0.72	0.48	0.63	0.61	0.61
	Return On Capital Employed %	393.91	442.71	-823.80	-194.11	-22.23
	Return On Total Assets Employed %	-11.76	-32.34	-27.92	-22.08	-6
	Current Debt Ratio	-34.47	-14.68	37.17	9.72	3.34
	Total Debt Ratio	-34.47	-14.68	37.47	9.96	3.58
	Stock Turnover Ratio %	15.30	15.32	22.95	14.95	16.54
	Return on Net Assets Employed %	393.91	442.71	-1074.53	-242.23	-27.56

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
07/10/2017	New Accounts Filed
07/10/2017	New Accounts Filed
02/09/2017	Confirmation Statement
18/07/2017	Payment Data Update Received
15/07/2017	Payment Data Update Received
23/06/2017	Payment Data Update Received
14/10/2016	New Accounts Filed
14/10/2016	New Accounts Filed
05/10/2016	Annual Returns
26/07/2016	New Board Member Mrs E.J. Lake appointed
26/09/2015	Annual Returns
25/09/2015	Mrs V. Sparks has left the board
25/09/2015	Mrs V. Sparks has resigned as company secretary
14/08/2015	New Accounts Filed
14/08/2015	New Accounts Filed

Previous Company Names

Date	Previous Name
12/10/1992	VALUEDREAM LIMITED

Writ Details

No writs found

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	SCIENCE IN SPORT PLC
Ownership Status	Wholly Owned
Ultimate Holding Company	SCIENCE IN SPORT PLC

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
SCIENCE IN SPORT PLC	08535116	31.12.2016	Y	£12,243,000
S I S (SCIENCE IN SPOR...	02742833	31.12.2016	N	£12,554,000

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Mortgage Details

Mortgage Type:	CHATTELS MORTGAGE
Date Charge Created:	27/09/12
Date Charge Registered:	28/09/12
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC ASSET FINANCE (UK) LIMITED AND HSBC EQUIPMENT FINANCE (UK) LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	SCHEDULETABLET LINE 11012E124 LABELLINGAND ENCODING EQUIPMENTWRAPAROUND LABELLING MACHINE 11203S007& 64636 STRETCH SHRINK & SLEEVE WRAPPINGTABLET PRESS 1371970 TUBE FILLING & SEALING (FOR FURTHER DETAILS OF THE CHATTELS CHARGED PLEASE REFER TO THE FORM MG01) SEE IMAGE FOR FULLDETAILS
Mortgage Type:	LEGAL ASSIGNMENT
Date Charge Created:	13/01/11
Date Charge Registered:	14/01/11
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:	ANY CREDIT BALANCE DUE UNDER THE CONTRACT (THE CONTRACT MONIES

Mortgage Type:	DEBENTURE
Date Charge Created:	25/05/99
Date Charge Registered:	25/05/99
Date Charge Satisfied:	28/07/10
Status:	SATISFIED
Person(s) Entitled:	EURO SALES FINANCE PLC
Amount Secured:
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 AND FLOATING CHARGE
Date Charge Created:	17/02/93
Date Charge Registered:	25/02/93
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
Christopher Peter Slater	0	3	0
Christopher Peter Slater	0	3	0
John Lawson	4	4	6
John Lawson	4	4	6
Neil Stewart Armstrong	0	1	5
Jean Mary Lawson	2	1	2
Simon James Lawson	1	3	3
Timothy John Lawson	0	2	2
Alan Whitfield	0	1	3
Ian Ford	8	2	2
Matthew John Holloway	0	1	1
Ian Ford	0	1	0
Matthew John Holloway	0	1	0
Vivienne Sparks	0	1	0
Vivienne Jill Sparks	3	2	0
Phillip Andrew Walker	4	4	23
INSTANT COMPANIES LIMITED	9	33242	89520
SWIFT INCORPORATIONS LIMITED	11	76220	189837

Total Persons With Significant Control	3	Total Statements	0
Active	1	Active	0
Ceased	2	Ceased	0

Active Persons With Significant Control

Name	Science In Sport Plc	Kind	Corporate Entity With Significant Control
Address	4th Floor, 16-18 Hatton Garden Farringdon, London	Notified On	06/04/2016
Post Code	EC1N 8AT	Legal Form	Public Limited Company
Authority	English	Place Registered	Companies House
Country Registered	United Kingdom	Registration Number	08535116
Nature Of Control	Ownership Of Shares 75 To 100 Percent,Voting Rights 75 To 100 Percent,Right To Appoint And Remove Directors

Ceased Persons With Significant Control

Name	Mrs Elizabeth Janet Lake	Kind	Individual Person With Significant Control
Address	4th Floor, 16-18 Hatton Garden Farringdon, London	Country Of Residence	England
Post Code	EC1N 8AT	Nationality	British
Date of Birth	09/1967	Notified On	18/07/2016
Nature Of Control	Has significant influence or control	Ceased On	25/01/2017
Name	Mr Stephen Nigel Moon	Kind	Individual Person With Significant Control
Address	4th Floor, 16-18 Hatton Garden Farringdon, London	Country Of Residence	England
Post Code	EC1N 8AT	Nationality	British
Date of Birth	05/1957	Notified On	06/04/2016
Nature Of Control	Has significant influence or control	Ceased On	25/01/2017

Active Statements

No Active Statements To Display

Ceased Statements

No Ceased Statements To Display
Average Invoice Value	£148600.78
Invoices available	35
Paid	27
Outstanding	8

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	10	16	1	0	0
Outstanding	8	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.23
UK Pound	1	INR 89.71
Euro	1	INR 79.50
GBP	1	INR 90.02

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

INFORMATION DETAILS

Analysis Done by :	PRI
Report Prepared by :	NIT

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.