MIRA INFORM REPORT

Report No. :	496534
Report Date :	10.03.2018

IDENTIFICATION DETAILS

Name :	124APPS LIMITED

Registered Office :	International House, 24 Holborn Viaduct, London, Ec1a 2bn

Country :	United Kingdom

Financials (as on) :	31.05.2017

Date of Incorporation :	08.05.2012

Com. Reg. No.:	08059653

Legal Form :	Private limited with Share Capital

Line of Business :	The company is engaged in providing IT services, it is a mobile app provider [Indirect sources]

No. of Employees :	Not available

RATING & COMMENTS

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

MIRA’s Rating :

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

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: 124APPS LIMITED

Company No: 08059653

Company Status: Active - Accounts Filed

Status Active

Registered Address: INTERNATIONAL HOUSE 24 HOLBORN VIADUCT LONDON EC1A 2BN

Company Name

124APPS LIMITED

Company Number

08059653

Company Summary

Registered Address INTERNATIONAL HOUSE
24 HOLBORN VIADUCT
LONDON
EC1A 2BN

Trading Address Gresham House
24 Holborn Viaduct
London
EC1A 2BN

Website Address -

Telephone Number -

Fax Number

TPS -

FPS Yes

Incorporation Date 08/05/2012

Previous Name

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 11/08/2017

Currency GBP

Share Capital £100

SIC07 63990

Charity Number -

SIC07 Description OTHER INFORMATION SERVICE ACTIVITIES N.E.C.

Principal Activity

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company -

Accountant CLEARSKY ACCOUNTING

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

31/05/2017 £107,861 £28,206 £25,220 -

31/05/2016 £125,658 £35,078 £26,387 -

31/05/2015 - - £2,880 -

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

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.
This company trades in an industry with a lower 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	1	Total Current Secretaries	0
Total Previous Directors / Company Secretaries	0	Total Person's With Significant Control	1

Current Directors

Title	Mr	Function	Director
Name	Vijay Kumar Gangoni	Nationality	Indian
Date of Birth	12/1981	Present Appointments	1
Latest Address	International House 24 Holborn Viaduct, London	Appointment Date	08/05/2012
Post Code	EC1A 2BN

Current Company Secretary

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
VIJAY GANGONI	GBP	100	ORDINARY	1	100
1

Financials

Profit & Loss

	Date Of Accounts	31/05/17	(%)	31/05/16	(%)	31/05/15	(%)	31/05/14	(%)	31/05/13
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Turnover	£107,861	-14.2%	£125,658	-	-	-	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Export	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Cost of Sales	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Gross Profit	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Wages & Salaries	£22,120	4.7%	£21,120	-	-	-	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Directors Emoluments	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Operating Profit	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Depreciation	-	-	£3,310	83.3%	£1,806	46.8%	£1,230	249.4%	£352
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Audit Fees	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Interest Payments	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Pre Tax Profit	£28,206	-19.6%	£35,078	-	-	-	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Taxation	-£5,873	10.6%	-£6,571	-	-	-	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Profit After Tax	£22,333	-21.7%	£28,507	-	-	-	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Dividends Payable	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Retained Profit	£22,333	-21.7%	£28,507	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/05/17	(%)	31/05/16	(%)	31/05/15	(%)	31/05/14	(%)	31/05/13
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Tangible Assets	£3,344	-21.3%	£4,251	109.5%	£2,029	-5.4%	£2,145	199.6%	£716
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Intangible Assets	0	-	0	-	0	-	0	-	0
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Total Fixed Assets	£3,344	-21.3%	£4,251	109.5%	£2,029	-5.4%	£2,145	199.6%	£716
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Stock	0	-	0	-	0	-	0	-	0
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Trade Debtors	£38,488	156.6%	£15,000	56.3%	£9,600	-	0	-100%	£9,381
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Cash	0	-100%	£63,438	25.1%	£50,714	80.3%	£28,125	-36.7%	£44,450
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Other Debtors	0	-	0	-	0	-	0	-	0
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Total Current Assets	£38,488	-50.9%	£78,438	30%	£60,314	114.4%	£28,125	-47.8%	£53,831
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Trade Creditors	£16,612	-70.5%	£56,302	-5.3%	£59,463	676.3%	£7,660	-85.7%	£53,714
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Other Short Term Finance	0	-	0	-	0	-	0	-	0
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	0
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Total Current Liabilities	£16,612	-70.5%	£56,302	-5.3%	£59,463	676.3%	£7,660	-85.7%	£53,714
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Bank Loans & Overdrafts and LTL	0	-	0	-	0	-	0	-	0
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Other Long Term Finance	0	-	0	-	0	-	0	-	0
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Total Long Term Liabilities	0	-	0	-	0	-	0	-	0

Capital & Reserves

	Date Of Accounts	31/05/17	(%)	31/05/16	(%)	31/05/15	(%)	31/05/14	(%)	31/05/13
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Called Up Share Capital	-	-100%	£100	-	£100	-	£100	-	£100
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	P & L Account Reserve	£25,220	-4.1%	£26,287	845.6%	£2,780	-87.6%	£22,510	999.9%	£733
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Revaluation Reserve	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Sundry Reserves	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Shareholder Funds	£25,220	-4.4%	£26,387	816.2%	£2,880	-87.3%	£22,610	999.9%	£833

Other Financial Items

	Date Of Accounts	31/05/17	(%)	31/05/16	(%)	31/05/15	(%)	31/05/14	(%)	31/05/13
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Net Worth	£25,220	-4.4%	£26,387	816.2%	£2,880	-87.3%	£22,610	999.9%	£833
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Working Capital	£21,876	-1.2%	£22,136	999.9%	£851	-95.8%	£20,465	999.9%	£117
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Total Assets	£41,832	-49.4%	£82,689	32.6%	£62,343	106%	£30,270	-44.5%	£54,547
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Total Liabilities	£16,612	-70.5%	£56,302	-5.3%	£59,463	676.3%	£7,660	-85.7%	£53,714
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Net Assets	£25,220	-4.4%	£26,387	816.2%	£2,880	-87.3%	£22,610	999.9%	£833

Miscellaneous

	Date Of Accounts	31/05/17	(%)	31/05/16	(%)	31/05/15	(%)	31/05/14	(%)	31/05/13
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Capital Employed	£25,220	-4.4%	£26,387	816.2%	£2,880	-87.3%	£22,610	999.9%	£833
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Number of Employees	-	-	-	-	-	-	-	-	-
	Accountants	CLEARSKY ACCOUNTING
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	31/05/17	31/05/16	31/05/15	31/05/14	31/05/13
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Pre-tax profit margin %	26.15	27.92	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Current ratio	2.32	1.39	1.01	3.67	1
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Sales/Net Working Capital	4.93	5.68	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Gearing %	0	0	0	0	0
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Equity in %	60.30	31.90	4.60	74.70	1.50
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Creditor Days	56.06	163.09	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Debtor Days	129.88	43.45	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Liquidity/Acid Test	2.31	1.39	1.01	3.67	1
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Return On Capital Employed %	111.83	132.93	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Return On Total Assets Employed %	67.42	42.42	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Current Debt Ratio	0.65	2.13	20.64	0.33	64.48
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Total Debt Ratio	0.65	2.13	20.64	0.33	64.48
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Stock Turnover Ratio %	-	-	-	-	-
$Description: \\vivek-pc\123 Foreign Report Raw\2\124APPS LIMITED_files\barchart-grey.png$	Return on Net Assets Employed %	111.83	132.93	-	-	-

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
15/08/2017	New Accounts Filed
15/08/2017	New Accounts Filed
15/05/2017	Confirmation Statement
16/03/2017	Change in Reg.Office
16/03/2017	Change of Company Postcode
21/01/2017	New Accounts Filed
08/06/2016	Annual Returns
03/03/2016	New Accounts Filed
19/05/2015	Annual Returns
13/12/2014	New Accounts Filed
04/09/2014	Change in Reg.Office
04/09/2014	Change of Company Postcode
03/06/2014	Annual Returns
12/02/2014	New Accounts Filed
28/11/2013	Change in Reg.Office

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

No Group Structure

Statistics

Group	0 companies
Linkages	0 companies
Countries	In 0 countries

Previous Director/Company Secretaries

No Previous Director Details
Total Persons With Significant Control	1	Total Statements	0
Active	1	Active	0
Ceased	0	Ceased	0

Active Persons With Significant Control

Name	Mr Vijay Kumar Gangoni	Kind	Individual Person With Significant Control
Address	International House 24 Holborn Viaduct, London	Country Of Residence	Scotland
Post Code	EC1A 2BN	Nationality	Indian
Date of Birth	12/1981	Notified On	06/04/2016
Nature Of Control	Ownership Of Shares 75 To 100 Percent,Voting Rights 75 To 100 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 65.08
UK Pound	1	INR 89.85
Euro	1	INR 80.16
GBP	1	INR 90.05

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

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	SYL

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.