MIRA INFORM REPORT

Report No. :	507801
Report Date :	05.05.2018

IDENTIFICATION DETAILS

Name :	ONLINE ELECTRONICS LIMITED
Registered Office :	Online House Blackburn Business Park Aberdeen Ab21 0ps
Country :	United Kingdom
Financials (as on) :	31.12.2016
Date of Incorporation :	17.12.1996
Com. Reg. No.:	SC170683
Legal Form :	Private limited with Share Capital
Line of Business :	· Other Manufacturing N.E.C · Manufacture other electrical equipment
No. of Employees :	39

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 :	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 (30.09.2017)	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: ONLINE ELECTRONICS LIMITED

Company No: SC170683

Registered Address: ONLINE HOUSE BLACKBURN BUSINESS PARK ABERDEEN AB21 0PS

Company Summary

Registered Address ONLINE HOUSE
BLACKBURN BUSINESS PARK
ABERDEEN
AB21 0PS

Trading Address Online House
Blackburn Business Pk, Woodburn
Blackburn
Aberdeen, Aberdeenshire
AB21 0PS

Website Address http://www.online-electronics.com

Telephone Number -

Fax Number

TPS -

FPS Yes

Incorporation Date 17/12/1996

Previous Name

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of

Accounts 04/05/2017

Currency GBP

Share Capital £8,750

SIC07 32990

Charity Number -

SIC07 Description OTHER MANUFACTURING N.E.C.

Principal Activity Manufacture other electrical equipment.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company IK GROUP AS

Accountant -

Mortgages 3

Group 3 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

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

31/12/2016 - - £3,448,891 39

31/12/2015 - - £3,195,011 47

31/12/2014 - - £5,788,689 -

Mortgage Summary

Total Mortgage 3

Outstanding 1

Satisfied 2

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

This company has only made late payments on a low percentage of invoices.

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.

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 -	-

Back to Top

Show More

Total Current Directors	4	Total Current Secretaries	1
Total Previous Directors / Company Secretaries	7	Total Person's With Significant Control	1

Current Directors

Title	Mr	Function	Director
Name	John Erik Gotrik	Nationality	Norwegian
Date of Birth	03/1960	Present Appointments	2
Latest Address	Christian August Thoringsveg 9 Po Box 8018, Postterminalen, N-4068 Stavanger	Appointment Date	18/02/2015
Post Code
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report
Title	Mr	Function	Director
Name	Christian Bull Eriksson	Nationality	Norwegian
Date of Birth	07/1956	Present Appointments	1
Latest Address	Christian August Thoringsveg 9 Po Box 8018, Postterminalen, N-4068 Stavanger	Appointment Date	18/02/2015
Post Code
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report

Title	Mr	Function	Director
Name	John Alphonsius Walsh	Nationality	Irish
Date of Birth	08/1968	Present Appointments	1
Latest Address	Online House Blackburn Business Park, Woodburn Road, Aberdeen	Appointment Date	05/04/2017
Post Code	AB21 0PS
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report
Title	Mr	Function	Director
Name	Andrew Peter Marwood	Nationality	British
Date of Birth	11/1975	Present Appointments	2
Latest Address	Online House Blackburn Business Park, Woodburn Road, Aberdeen	Appointment Date	05/04/2017
Post Code	AB21 0PS
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report

Current Company Secretary

Title	Mr	Function	Company Secretary
Name	John Alphonsius Walsh	Nationality
Date of Birth	-	Present Appointments	1
Latest Address	Online House Blackburn Business Park, Woodburn Road, Aberdeen	Appointment Date	03/06/2015
Post Code	AB21 0PS
Other Actions		View Consumer Report	View Trace Report
	View Compliance Report

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
IK GROUP AS	GBP	8,750	ORDINARY	1	100
1

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	-	-	-	-	-	-	-	-	-
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	-	-	-	-	-	-	-	-	-
	Gross Profit	-	-	-	-	-	-	-	-	-
	Wages & Salaries	-	-	-	-	-	-	-	-	-
	Directors Emoluments	-	-	-	-	-	-	-	-	-
	Operating Profit	-	-	-	-	-	-	-	-	-
	Depreciation	£112,811	-25.2%	£150,766	-4.2%	£157,430	18.8%	£132,495	14.5%	£115,709
	Audit Fees	£16,500	3.1%	£16,000	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
	Tangible Assets	£383,911	5%	£365,632	-63.8%	£1,010,645	10.2%	£917,240	0.6%	£911,561
	Intangible Assets	£207,157	-	0	-100%	£434	-98.3%	£25,781	-	0
	Total Fixed Assets	£591,068	61.7%	£365,632	-63.8%	£1,011,079	7.2%	£943,021	3.5%	£911,561
	Stock	£606,002	-26.2%	£821,198	-13.3%	£947,152	60.9%	£588,702	4.6%	£562,625
	Trade Debtors	£1,143,821	56.6%	£730,604	-69%	£2,358,592	4.5%	£2,257,412	24.2%	£1,817,378
	Cash	£399,215	-34.9%	£613,068	-76.7%	£2,633,884	17.3%	£2,244,911	19.7%	£1,875,228
	Other Debtors	£1,391,306	22.5%	£1,135,557	-	0	-	0	-	0
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£3,540,344	7.3%	£3,300,427	-44.4%	£5,939,628	16.7%	£5,091,025	19.6%	£4,255,231
	Trade Creditors	£190,785	-19.2%	£236,202	-78.3%	£1,089,963	1%	£1,078,870	-14.2%	£1,256,974
	Bank Loans & Overdrafts	£5,495	22.7%	£4,478	-	0	-	0	-	0
	Other Short Term Finance	£237,049	327.1%	£55,504	-	0	-	0	-	0
	Miscellaneous Current Liabilities	£168,073	-0.4%	£168,729	-	0	-	0	-	0
	Total Current Liabilities	£601,402	29.4%	£464,913	-57.3%	£1,089,963	1%	£1,078,870	-14.2%	£1,256,974
	Bank Loans & Overdrafts and LTL	£86,614	716.1%	£10,613	-85.3%	£72,055	58.5%	£45,467	56.2%	£29,106
	Other Long Term Finance	£62,418	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£81,119	999.9%	£6,135	-91.5%	£72,055	58.5%	£45,467	56.2%	£29,106

.

Capital & Reserves

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
	Called Up Share Capital	£8,750	-	£8,750	-	£8,750	-	£8,750	-	£8,750
	P & L Account Reserve	£3,440,141	8%	£3,186,261	-42.9%	£5,583,181	18.7%	£4,704,201	28%	£3,675,204
	Revaluation Reserve	-	-	-	-100%	£196,758	-	£196,758	-	£196,758
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£3,448,891	7.9%	£3,195,011	-44.8%	£5,788,689	17.9%	£4,909,709	26.5%	£3,880,712

Other Financial Items

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
	Net Worth	£3,241,734	1.5%	£3,195,011	-44.8%	£5,788,255	18.5%	£4,883,928	25.9%	£3,880,712
	Working Capital	£2,938,942	3.6%	£2,835,514	-41.5%	£4,849,665	20.9%	£4,012,155	33.8%	£2,998,257
	Total Assets	£4,131,412	12.7%	£3,666,059	-47.3%	£6,950,707	15.2%	£6,034,046	16.8%	£5,166,792
	Total Liabilities	£682,521	44.9%	£471,048	-59.5%	£1,162,018	3.4%	£1,124,337	-12.6%	£1,286,080
	Net Assets	£3,448,891	7.9%	£3,195,011	-44.8%	£5,788,689	17.9%	£4,909,709	26.5%	£3,880,712

Cash Flow

	Date Of Accounts	31/12/16	(%)	31/12/15	(%)	31/12/14	(%)	31/12/13	(%)	31/12/12
	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	(%)	31/12/13	(%)	31/12/12
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£3,530,010	10.3%	£3,201,146	-45.4%	£5,860,744	18.3%	£4,955,176	26.7%	£3,909,818
	Number of Employees	39	-17%	47	-	-	-	-	-	-
	Accountants
	Auditors	ANDERSON ANDERSON & BROWN LLP
	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 %	-	-	-	-	-
	Current ratio	5.89	7.10	5.45	4.72	3.39
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	2.50	0.30	1.20	0.90	0.80
	Equity in %	87.90	87.20	83.30	81.70	75.10
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	4.87	5.33	4.58	4.17	2.93
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	0.17	0.14	0.18	0.21	0.32
	Total Debt Ratio	0.19	0.14	0.20	0.22	0.33
	Stock Turnover Ratio %	-	-	-	-	-
	Return on Net Assets Employed %	-	-	-	-	-

Event History View Documents

Date	Description
22/12/2017	Confirmation Statement
29/11/2017	Payment Data Update Received
18/05/2017	Payment Data Update Received
17/05/2017	New Accounts Filed
17/05/2017	New Accounts Filed
09/05/2017	Change in Reg.Office
09/05/2017	Change of Company Postcode
11/04/2017	Mr B. Gribble has left the board
11/04/2017	New Board Member Mr A.P. Marwood appointed
11/04/2017	New Board Member Mr J.A. Walsh appointed
23/12/2016	Annual Returns
17/05/2016	New Accounts Filed
18/03/2016	Annual Returns
19/01/2016	Annual Returns
01/09/2015	New Accounts Filed

Previous Company Names

No Previous Names found

Writ Details

No writs found

Statistics

Group	3 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status	Wholly Owned
Ultimate Holding Company	IK GROUP AS

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
IK GROUP AS	N/A	-	-
IK-UK LIMITED	07448597	31.12.2016	N
ONLINE ELECTRONICS LIM...	SC170683	31.12.2016	N

Statistics

Group	3 companies
Linkages	0 companies
Countries	In 0 countries

Mortgage Details

Mortgage Type:
Date Charge Created:	15/03/16
Date Charge Registered:	18/03/16
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	DNB BANK ASA;
Amount Secured:
Details:	CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKINGOF THE COMPANY.CONTAINS NEGATIVE PLEDGE.
Mortgage Type:	STANDARD SECURITY
Date Charge Created:	01/08/06
Date Charge Registered:	10/08/06
Date Charge Satisfied:	23/03/11
Status:	SATISFIED
Person(s) Entitled:	THE ROYAL BANK OF SCOTLAND PLC
Amount Secured:
Details:	THE SUBJECTS KNOWN AS 266 AUCHMILL ROAD, BUCKSBURN, ABERDEEN

Mortgage Type:	BOND & FLOATING CHARGE
Date Charge Created:	26/03/97
Date Charge Registered:	07/04/97
Date Charge Satisfied:	23/03/11
Status:	SATISFIED
Person(s) Entitled:	THE ROYAL BANK OF SCOTLAND PLC
Amount Secured:
Details:	UNDERTAKING AND ALL PROPERTY AND ASSETSPRESENT AND FUTURE OF THE COMPANY INCLUDING UNCALLED CAPITAL

Previous Director/Company Secretaries

Name	Current Active Appointments		Previous Appointments	Dissolved Companies
Alastair Merchant Mathieson	3		5	10
Brian Gribble	2		6	8
Brian Gribble	2		6	8
Bryan Rendall Inkster	0		1	0
Linda Anne Gribble	0		1	1
William Edgar	1		22	15
OSWALDS OF EDINBURGH LIMITED	0		9868	28743
Total Persons With Significant Control	1	Total Statements		1
Active	1	Active		0
Ceased	0	Ceased		1

Active Persons With Significant Control

Name	Ik Group As	Kind	Corporate Entity With Significant Control
Address	9 Christian August, Thoringsveg, Stavanger	Notified On	06/04/2016
Post Code	-	Legal Form	Corporate Body
Authority	International Accounting Standards	Place Registered	Norwegian Registery
Country Registered	Norway	Registration Number	989002732
Nature Of Control	Ownership Of Shares 75 To 100 Percent,Right To Appoint And Remove Directors

Ceased Persons With Significant Control

No Ceased Persons With Significant Control To Display

Active Statements

No Active Statements To Display

Ceased Statements

Statement	The company has not yet completed taking reasonable steps to find out if there is anyone who is a registrable person or a registrable relevant legal entity in relation to the company
Notified On	17/12/2016	Ceased On	06/03/2018

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.77
UK Pound	1	INR 90.58
Euro	1	INR 79.97
GBP	1	INR 90.44

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

INFORMATION DETAILS

Analysis Done by :	PRA
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.