MIRA INFORM REPORT

Report No. :	510100
Report Date :	19.05.2018

IDENTIFICATION DETAILS

Name :	NORVAP LTD
Registered Office :	C/O Oakfield Park Professionals Unit 1, Union Business Park Skipon Bd23 2qr
Country :	United Kingdom
Financials (as on) :	31.05.2016
Date of Incorporation :	22.05.2013
Com. Reg. No.:	08540611
Legal Form :	Private limited with Share Capital
Line of Business :	Agents specialized in the sale of other particular products
No. of Employees :	Not Available

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 :	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	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: NORVAP LTD.

Company No: 08540611

Registered Address: C/O OAKFIELD PARK PROFESSIONALS UNIT 1, UNION BUSINESS PARK

SKIPTON BD23 2QR

Company Summary

Registered Address C/O OAKFIELD PARK PROFESSIONALS
UNIT 1, UNION BUSINESS PARK
SKIPTON
BD23 2QR

Trading Address c/o Oakfield Park Professionals
Unit 1, Union Business Park
Skipton
BD23 2QR
BD23 2QR

Website Address http://www.norvap.com

Telephone Number 01756700687

Fax Number

TPS Yes

FPS Yes

Incorporation Date 22/05/2013

Previous Name

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 26/09/2016

Currency GBP

Share Capital £15

SIC07 46180

Charity Number -

SIC07 Description AGENTS SPECIALIZED IN THE SALE OF OTHER PARTICULAR PRODUCTS

Principal Activity

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company -

Accountant GOSTLING LIMITED

Mortgages 4

Group 0 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

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

31/08/2016 - - £1,198,994 -

31/08/2015 - - £18,234 -

31/08/2014 - - - -

Mortgage Summary

Total Mortgage 4

Outstanding 2

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 are considered to be low in terms of the overall outstanding creditor obligations.

There has been an increase in shareholders funds compared with the previous balance sheet.

This company trades in an industry with a moderate 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 -	-

Back to Top

Show More

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	Philip John Gostling	Nationality	British
Date of Birth	04/1970	Present Appointments	14
Latest Address	Office 1 Carleton Business Park, Carleton New Road, Skipton, North Yorkshire	Appointment Date	22/05/2013
Post Code	BD23 2DE
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report	View Compliance Report

Current Company Secretary

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
PHILIP JOHN GOSTLING	GBP	10	ORDINARY	1	66.67
SILJE ELIZABETH JOHNSTON-HALE	GBP	1	ORDINARY Y	1	6.67
DAVID OXTOBY	GBP	1	ORDINARY W	1	6.67
ANDREW MILFORD	GBP	1	ORDINARY V	1	6.67
PAUL OXTOBY	GBP	1	ORDINARY Z	1	6.67
PAUL ROBINSON	GBP	1	ORDINARY X	1	6.67
1

Financials

Profit & Loss

	Date Of Accounts	31/08/16	(%)	31/08/15	(%)	31/08/14	(%)	31/05/14	(%)	-
	Weeks	52	(%)	52	(%)	13	(%)	52	(%)	-
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	-
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	-
	Turnover	-	-	-	-	-	-	-	-	-
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	-	-	-	-	-	-	-	-	-
	Gross Profit	-	-	-	-	-	-	-	-	-
	Wages & Salaries	-	-	-	-	-	-	-	-	-
	Directors Emoluments	-	-	-	-	-	-	-	-	-
	Operating Profit	-	-	-	-	-	-	-	-	-
	Depreciation	£23,527	-	-	-	-	-	-	-	-
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/08/16	(%)	31/08/15	(%)	31/08/14	(%)	31/05/14	(%)	-
	Tangible Assets	£405,564	106.3%	£196,613	-	0	-	0	-	-
	Intangible Assets	£464,476	999.9%	£30,000	-	0	-	0	-	-
	Total Fixed Assets	£870,040	283.9%	£226,613	-	0	-	0	-	-
	Stock	£150,000	30.4%	£115,000	-	0	-	0	-	-
	Trade Debtors	£903,089	418.9%	£174,038	-	0	-	0	-	-
	Cash	£476	-86.1%	£3,413	-	0	-	0	-	-
	Other Debtors	0	-	0	-	0	-	0	-	-
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	-
	Total Current Assets	£1,053,565	260.3%	£292,451	-	0	-	0	-	-
	Trade Creditors	£507,240	223.1%	£157,000	-	0	-	0	-	-
	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	-
	Other Short Term Finance	0	-	0	-	0	-	0	-	-
	Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	-
	Total Current Liabilities	£507,240	223.1%	£157,000	-	0	-	0	-	-
	Bank Loans & Overdrafts and LTL	£217,371	-36.8%	£343,830	-	0	-	0	-	-
	Other Long Term Finance	0	-	0	-	0	-	0	-	-
	Total Long Term Liabilities	£217,371	-36.8%	£343,830	-	0	-	0	-	-

.

Capital & Reserves

	Date Of Accounts	31/08/16	(%)	31/08/15	(%)	31/08/14	(%)	31/05/14	(%)	-
	Called Up Share Capital	£10	-	£10	-	-	-	-	-	-
	P & L Account Reserve	£1,198,984	999.9%	£18,224	-	-	-	-	-	-
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£1,198,994	999.9%	£18,234	-	-	-	-	-	-

Other Financial Items

	Date Of Accounts	31/08/16	(%)	31/08/15	(%)	31/08/14	(%)	31/05/14	(%)	-
	Net Worth	£734,518	999.9%	-£11,766	-	-	-	-	-	-
	Working Capital	£546,325	303.3%	£135,451	-	-	-	-	-	-
	Total Assets	£1,923,605	270.6%	£519,064	-	-	-	-	-	-
	Total Liabilities	£724,611	44.7%	£500,830	-	-	-	-	-	-
	Net Assets	£1,198,994	999.9%	£18,234	-	-	-	-	-	-

Cash Flow

	Date Of Accounts	31/08/16	(%)	31/08/15	(%)	31/08/14	(%)	31/05/14	(%)	-
	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	31/08/16	(%)	31/08/15	(%)	31/08/14	(%)	31/05/14	(%)	-
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	-
	Capital Employed	£1,416,365	291.2%	£362,064	-	-	-	-	-	-
	Number of Employees	-	-	-	-	-	-	-	-	-
	Accountants	GOSTLING LIMITED
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	31/08/16	31/08/15	31/08/14	31/05/14	-
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	2.08	1.86	-	-	-
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	18.10	1885.70	0	0	-
	Equity in %	82.20	3.70	-	-	-
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	1.78	1.13	-	-	-
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	0.42	8.61	-	-	-
	Total Debt Ratio	0.60	27.46	-	-	-
	Stock Turnover Ratio %	-	-	-	-	-
	Return on Net Assets Employed %	-	-	-	-	-

Event History View Documents

Date	Description
09/06/2017	Confirmation Statement
21/05/2017	Payment Data Update Received
21/04/2017	New Accounts Filed
21/04/2017	New Accounts Filed
07/04/2017	Change in Reg.Office
31/03/2017	Change in Reg.Office
31/03/2017	Change of Company Postcode
29/09/2016	New Accounts Filed
06/07/2016	Annual Returns
06/07/2016	Annual Returns
15/02/2016	New Accounts Filed
06/06/2015	Annual Returns
06/06/2015	New Accounts Filed
10/03/2015	New Accounts Filed
14/06/2014	Annual Returns

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 Full

No Group Structure

Statistics

Group	0 companies
Linkages	0 companies
Countries	In 0 countries

Mortgage Details

Mortgage Type:
Date Charge Created:	19/10/17
Date Charge Registered:	20/10/17
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC;
Amount Secured:
Details:	UNITS 1 AND 2 UNION BUSINESS PARK, SNAYGILL INDUSTRIAL ESTATE, SKIPTONCONTAINS NEGATIVE PLEDGE.
Mortgage Type:
Date Charge Created:	25/09/17
Date Charge Registered:	26/09/17
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	SECURITY TRUSTEE SERVICES LIMITED AS SECURITY AGENT;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.

Mortgage Type:
Date Charge Created:	19/03/15
Date Charge Registered:	21/03/15
Date Charge Satisfied:	06/06/16
Status:	SATISFIED
Person(s) Entitled:	BIBBY FINANCIAL SERVICES LIMITED (AS SECURITY TRUSTEE);
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.
Mortgage Type:
Date Charge Created:	19/11/14
Date Charge Registered:	19/11/14
Date Charge Satisfied:	29/01/16
Status:	SATISFIED
Person(s) Entitled:	SKIPTON BUSINESS FINANCE LIMITED;
Amount Secured:
Details:	'I. ALL FREEHOLD OR LEASEHOLD PROPERTYOF THE COMPANY WITH ALL PRESENT AND FUTURE BUILDINGS, FIXTURES (TRADE FIXTURES)PLANT AND MACHINERY WHICH ARE ON SUCH PROPERTY II. ALL PATENTS, PATENT APPLICATIONS, INVENTIONS, TRADE MARKS, SERVICE MARKS (WHETHER REGISTERED OR NO), TRADE NAMES, DESIGN RIGHTS, REGISTERED DESIGNS, COPYRIGHTS, KNOW-HOW, TRADE SECRETS, RIGHTS ION COMPUTER SOFTWARE AND ANY OTHER INTELLECTUAL OR INTANGIBLE PROPERTY RIGHTS (INCLUDING THE BENEFIT OF ANY LICENCES OR CONSENTS.'CONTAINS FIXED CHARGE.CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.

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 Philip John Gostling	Kind	Individual Person With Significant Control
Address	C/O Oakfield Park Professionals Ltd Unit 1, Union Business Park, Snaygill Industrial Estate, Keighley Road, Skipton	Country Of Residence	England
Post Code	BD23 2QR	Nationality	British
Date of Birth	04/1970	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

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.96
UK Pound	1	INR 91.88
Euro	1	INR 80.26
GBP	1	INR 91.58

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

INFORMATION DETAILS

Analysis Done by :	NIS
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.