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FORCE INDIA FORMULA ONE TEAM LIMITED
2ND FLOOR, 110 CANNON STREET, LONDON, EC4N 6EU, EC4N 6EUPrevious name: SPYKER F1 TEAM LIMITED (changed on 31-Oct-2007)
Previous name: SPYKER MF1 TEAM LIMITED (changed on 24-Oct-2006)
Previous name: MIDLAND F1 RACING LIMITED (changed on 09-Oct-2006)
Company Number: 02417588
Incorporation date: 29-Aug-1989
Status: Liquidation
Entity type: Private Limited Company
SIC codes:
29100 Manufacture of motor vehicles
29320 Manufacture of other parts and accessories for motor vehicles
SUMMARY
This company is 34.6 years old and is currently liquidation. It is controlled by Orange India Holdings S.A.R.L. The company has negative equity (net assets) of GBP -36.3 million which has worsened since the previous year's figure of GBP -27.9 million. The latest reported revenue figure is GBP 77.2 million which is up 20% on previous year's figure of GBP 64.3 million. The company is both loss making and has negative equity, it is therefore likely to go bankrupt unless it can raise funding or business has improved since the last accounts were filed. Retained earnings is negative (GBP -275.5 million), which means the company has aggregate losses since it's inception or it has paid more dividends than it can afford; given the company's age, this is a sign of serious financial problems. The company has 6 active officers (directors or partners) who are or were officers of 40 other companies, 15 (37.5%) of which have since been dissolved or are proposed for strike off. The company has no public disputes filed on the Business Disputes Register. There are 6 court cases involving the company that we are aware of.FINANCIALS (BETA)
Next accounts due: 30-Sep-2018Accounts Filed: FULL (31-Dec-2016)
P&L Financials:
Year end | Currency | Revenue | Operating profit | Interest Received | Interest Paid | Tax | Net Profit GBP |
---|---|---|---|---|---|---|---|
31-Dec-2016 | GBP | 77,163,000 | -22,329,000 | -11,599,000 | |||
31-Dec-2015 | GBP | 64,259,000 | -18,677,000 | 465,000 | -6,809,000 | ||
31-Dec-2013 | GBP | 43,770,000 | -46,947,000 | 8,000 | 1,900,000 | 10,356,000 | -38,483,000 |
Balance Sheet Financials:
Year end | Currency | Cash | Current Assets | Current Liabilities | Debt | Share Capital | Premium Reserve | Retained Earnings | Net Assets |
---|---|---|---|---|---|---|---|---|---|
31-Dec-2016 | GBP | 222,000 | 8,177,000 | 54,832,000 | 573,000 | 80,010,000 | -275,466,000 | -36,303,000 | |
31-Dec-2015 | GBP | 867,000 | 7,975,000 | 39,507,000 | 117,000 | 80,010,000 | -263,867,000 | -27,924,000 | |
31-Dec-2013 | GBP | 5,543,000 | 13,120,000 | 49,127,000 | 80,010,000 | -245,109,000 | -33,761,000 |
VALUATION EVENTS (BETA)
Year end | Currency | % Equity | Sum raised | Pre-Money Valuation* | Post-Money Valuation* | Enterprise Value** |
---|
DISPUTES
No disputes filed on www.disputesregister.orgCOMPANY SECRETARY
Status | Name | Appointed on | Resigned on | Occupation | Nationality | All apointments (active/resigned) |
---|---|---|---|---|---|---|
Active | Sankaranarayanan RAMAMURTHY | 02 Nov 2009 | 28 Mar 2024 | 1 - 0 | ||
Resigned | Patrick MISSLING | 28 Sep 2006 | 02 Nov 2009 | 0 - 3 | ||
Resigned | Margaret Elizabeth CALVERT | 06 Jun 2005 | 28 Sep 2006 | 1 - 17 | ||
Resigned | Peter Alan YOUNG | 08 Feb 2005 | 06 Jun 2005 | 0 - 3 | ||
Resigned | Marie Patricia JORDAN | 01 Dec 1997 | 21 Jan 2005 | 2 - 6 | ||
Resigned | Marie Patricia JORDAN | 21 Jan 2005 | Irish | 2 - 6 |
DIRECTORS
Status | Name | Appointed on | Resigned on | Occupation | Nationality | All appointments (active/resigned) |
Dissolved companies (rate) |
---|---|---|---|---|---|---|---|
Resigned | Anthony George BUNKER | 15 May 2017 | 19 Apr 2021 | Consultant | British | 0 - 4 | 1 (25.0%) |
Active | Sandeep WADHWA | 27 Oct 2011 | Director | Indian | 1 - 2 | 1 (33.3%) | |
Active | Robert George FERNLEY | 27 Oct 2011 | Director | British | 3 - 13 | 8 (50.0%) | |
Active | Subrata Roy SAHARA | 27 Oct 2011 | Director | Indian | 2 - 2 | 2 (50.0%) | |
Active | Abhijit SARKAR | 27 Oct 2011 | Director | Indian | 1 - 2 | 1 (33.3%) | |
Active | Sushanto ROY | 27 Oct 2011 | Director | Indian | 1 - 2 | 1 (33.3%) | |
Resigned | Vijay, Dr MALLYA | 02 Nov 2009 | 24 May 2018 | Team Principal | Indian | 0 - 3 | 1 (33.3%) |
Resigned | Ayani Kurussi Ravindranath NEDUNGADI | 02 Nov 2009 | 15 May 2017 | Cfo | Indian | 0 - 3 | 1 (33.3%) |
Active | Thiruvannamalai Venkatesan LAKSHMI KANTHAN | 09 Jan 2009 | Consultant | British | 16 - 34 | 19 (38.0%) | |
Resigned | Victor Roberto MULLER | 28 Sep 2006 | 05 Oct 2007 | Chief Executive Officer | Dutch | 0 - 3 | 1 (33.3%) |
Resigned | Michiel MOL | 28 Sep 2006 | 29 Sep 2011 | Director Of F1 Racing | Dutch | 0 - 3 | 1 (33.3%) |
Resigned | Oedithnarain JAHRIA | 28 Sep 2006 | 01 Jul 2007 | Managing Director | Dutch | 0 - 1 | 1 (100.0%) |
Resigned | Richard BORSBOOM | 28 Sep 2006 | 19 Mar 2009 | Chief Finanical Officer | Dutch | 0 - 4 | 2 (50.0%) |
Resigned | Colin KOLLES | 21 Jan 2005 | 31 Oct 2009 | Director | German | 0 - 3 | 1 (33.3%) |
Resigned | Alexander SHNAIDER | 21 Jan 2005 | 28 Sep 2006 | Director | Canadian | 0 - 11 | 8 (72.7%) |
Resigned | Martin Thomas PRYOR | 21 Jan 2005 | 28 Sep 2006 | Company Director | British | 0 - 11 | 7 (63.6%) |
Resigned | Derek Robin ROE | 21 Jan 2005 | 28 Sep 2006 | Director | British | 1 - 5 | 3 (50.0%) |
Resigned | Joseph SCHULL | 01 Feb 2001 | 26 Sep 2003 | Finance | Canadian | 0 - 4 | 1 (25.0%) |
Resigned | Nicholas LOWCOCK | 05 Nov 1998 | 01 Feb 2001 | Vice President | British | 0 - 10 | 4 (40.0%) |
Resigned | Dominic Hugh SHORTHOUSE | 05 Nov 1998 | 15 Mar 2004 | Managing Director | British | 7 - 42 | 12 (24.5%) |
Resigned | Edmund Patrick JORDAN | 01 Dec 1997 | 21 Jan 2005 | Race Team Manager | Irish | 0 - 7 | 5 (71.4%) |
Resigned | Marie Patricia JORDAN | 22 Dec 1995 | 21 Jan 2005 | Company Director | Irish | 2 - 6 | 3 (37.5%) |
Resigned | Edmund Patrick JORDAN | 21 Jan 2005 | Race Team Manager | Irish | 0 - 7 | 5 (71.4%) |
Average tenure of active directors: 12.9 years
Average tenure of resigned directors: 3.9 years
Average active director Dissolution Rate: 39.7%
DIRECTOR APPOINTMENTS IN OTHER COMPANIES
SHAREHOLDERS (BETA)
Shareholder name | Share class | Shares at confirmation date | ||||
---|---|---|---|---|---|---|
2015-08-29 | 2014-08-29 | 2013-08-29 | 2012-08-29 | 2011-08-29 | ||
ORANGE INDIA HOLDINGS S.A.R.L | ORDINARY | 80,010,000 100% | 80,010,000 100% | 80,010,000 100% | 80,010,000 100% | 0 0% |
FORCE INDIA FORMULA ONE LIMITED | ORDINARY | 0 0% | 0 0% | 0 0% | 0 0% | 10,000 100% |
SHAREHOLDINGS (BETA)
no shareholding data
CONTROLLED COMPANIES / CONTROLLING ENTITIES
Controlling entities above
FORCE INDIA FORMULA ONE TEAM LIMITED
no controlled companies
LATE PAYMENTS REPORT
Start date | End date | Average days to pay | % invoices paid over 60 days | % invoices not paid within agreed terms | Gov.uk report |
---|---|---|---|---|---|
2018-01-01 | 2018-06-30 | 59 | 39% | 52% | 3688 |
COURT CASES
Date | Title | Reference | Subject |
---|---|---|---|
2019-09-18 | AMP Advisory & Management Partners AG v Force India Formula One Team Ltd | [2019] EWHC 2426 (Comm) | |
2019-09-18 | AMP Advisory & Management Partners AG v Force India Formula One Team Ltd | [2019] EWHC 2426 (Comm) | |
2013-07-19 | Force India Formula One Team Ltd v Aerolab SRL & Anor | [2013] EWCA civ 780 | |
2010-10-06 | Force India Formula One Team Ltd v Etihad Airways PJSC & Anor | [2010] EWCA Civ 1051 | |
2010-09-24 | Giedo Van Der Garde BV & Anor v Force India Formula One Team Ltd | [2010] EWHC 2373 (QB) | |
2009-11-04 | Force India Formula One Team Ltd v Etihad Airways PJSC & Anor | [2009] EWHC 2768 (QB) |
PATENTS
No Patents found
COMPETITORS
(Based on Sic code:
29100 Manufacture of motor vehicles)
Company | Registered Address | Company Number | YE Date | Revenue GBP | Net Profit GBP | Other SIC codes |
---|---|---|---|---|---|---|
JAGUAR LAND ROVER LIMITED | ABBEY ROAD, WHITLEY, COVENTRY, CV3 4LF | 01672070 | 2018-03-31 | 21,945,000,000 | 545,000,000 | |
FORD MOTOR COMPANY LIMITED | ARTERIAL ROAD, LAINDON, ESSEX, ENGLAND, SS15 6EE | 00235446 | 2017-12-31 | 12,863,000,000 | 618,000,000 |
29320-Manufacture of other parts and accessories for motor vehicles 45111-Sale of new cars and light motor vehicles |
NISSAN MOTOR MANUFACTURING (UK) LIMITED | WASHINGTON ROAD, SUNDERLAND, TYNE AND WEAR, SR5 3NS | 01806912 | 2018-03-31 | 6,260,659,000 | 115,302,000 | |
VAUXHALL MOTORS LIMITED | PINLEY HOUSE, 2 SUNBEAM WAY, COVENTRY, WEST MIDLANDS, CV3 1ND | 00135767 | 2017-12-31 | 3,676,400,000 | 109,000,000 | |
HONDA OF THE U.K. MANUFACTURING LIMITED | 1 MORE LONDON PLACE, LONDON, SE1 2AF | 01887872 | 2018-03-31 | 2,608,166,000 | 26,270,000 | |
TOYOTA MOTOR MANUFACTURING (UK) LIMITED | BURNASTON, DERBY, DE1 9TA | 02352348 | 2018-03-31 | 2,479,634,000 | -252,854,000 | |
BENTLEY MOTORS LIMITED | PYM'S LANE, CREWE, CHESHIRE, CW1 3PL | 00992897 | 2017-12-31 | 1,593,800,000 | -4,200,000 | |
IBC VEHICLES LIMITED | . KIMPTON ROAD, LUTON, ENGLAND, LU2 0JX | 02091272 | 2017-12-31 | 805,893,000 | 17,297,000 | |
ASTON MARTIN LAGONDA LIMITED | BANBURY ROAD, GAYDON, WARWICK, CV35 0DB | 01199255 | 2017-12-31 | 771,090,000 | 119,039,000 | |
LEYLAND TRUCKS LIMITED | 9400 GARSINGTON ROAD, OXFORD BUSINESS PARK, OXFORD, OX4 2HN | 02814092 | 2017-12-31 | 744,741,000 | 17,063,000 | |
ALEXANDER DENNIS LIMITED | 9 CENTRAL BOULEVARD, LARBERT, UNITED KINGDOM, FK5 4RU | SC268016 | 2017-12-31 | 577,007,000 | 19,734,000 | |
MCLAREN AUTOMOTIVE LIMITED | MCLAREN TECHNOLOGY CENTRE, CHERTSEY ROAD, WOKING, SURREY, GU21 4YH | 01967717 | 2017-12-31 | 526,916,000 | -42,563,000 |
45111-Sale of new cars and light motor vehicles |
ROLLS-ROYCE MOTOR CARS LIMITED | COMPANY SECRETARY, SUMMIT ONE, SUMMIT AVENUE, FARNBOROUGH, HAMPSHIRE, GU14 0FB | 03522604 | 2017-12-31 | 422,489,000 | 21,032,000 |
45111-Sale of new cars and light motor vehicles |
BAE SYSTEMS GLOBAL COMBAT SYSTEMS LIMITED | 106, RBSL, HADLEY CASTLE WORKS, TELFORD, SHROPSHIRE, ENGLAND, TF1 9AY | 00414948 | 2017-12-31 | 184,000,000 | 19,000,000 | |
AUTO-SLEEPERS GROUP LIMITED | ORCHARD WORKS, WILLERSEY, BROADWAY, WORCESTERSHIRE, WR12 7QF | 03978237 | 2017-08-31 | 132,257,595 | 7,894,990 |
29203-Manufacture of caravans |
JOHNSTON SWEEPERS LIMITED | CURTIS ROAD, DORKING, SURREY, RH4 1XF | 00199841 | 2017-12-31 | 89,488,000 | 6,698,000 | |
FORCE INDIA FORMULA ONE TEAM LIMITED | 2ND FLOOR, 110 CANNON STREET, LONDON, EC4N 6EU, EC4N 6EU | 02417588 | 2016-12-31 | 77,163,000 | -11,599,000 |
29320-Manufacture of other parts and accessories for motor vehicles |
MTCE LIMITED | C/O BIRKETTS LLP KINGFISHER HOUSE, 1 GILDERS WAY, NORWICH, NORFOLK, ENGLAND, NR3 1UB | 02714436 | 2017-12-31 | 60,886,279 | 1,222,531 |
29320-Manufacture of other parts and accessories for motor vehicles 71129-Other engineering activities 71200-Technical testing and analysis |
LONDON EV COMPANY LIMITED | LI CLOSE, ANSTY PARK, ANSTY, COVENTRY, ENGLAND, CV7 9RF | 08357576 | 2017-12-31 | 14,694,000 | -40,133,000 | |
BMW (UK) MANUFACTURING LIMITED | COMPANY SECRETARY, SUMMIT ONE, SUMMIT AVENUE, FARNBOROUGH, HAMPSHIRE, GU14 0FB | 03950868 | 2018-12-31 | 3,080,456 | 95,869 | |
JEDI RACING CARS LIMITED | NETTLEBUSH, FINEDON ROAD, WELLINGBOROUGH, NORTHAMPTONSHIRE, NN8 4NY | 03474790 | 2018-11-30 | 164,573 | 0 |
32300-Manufacture of sports goods |
MIKE CHAMPION ENGINEERING LTD | 29 QUEEN STREET, MIDDLETON CHENEY, BANBURY, ENGLAND, OX17 2NP | 08447434 | 2018-03-31 | 98,574 | 0 |
71129-Other engineering activities |
MIDAS ENGINEERING AND TECHNOLOGY LIMITED | 10 HAZEL ROAD, BOTLEY, OXFORD, OXON, OX2 9LF | 07089088 | 2017-11-30 | 73,847 | 0 |
74100-specialised design activities |
RAIDI ENGINEERING LTD | 3RD FLOOR, 207 REGENT STREET, LONDON, W1B 3HH | 08570826 | 2019-06-30 | 73,461 | 0 | |
COSTA BOGDAN LTD | 3RD FLOOR, 207 REGENT STREET, LONDON, W1B 3HH | 08685060 | 2018-09-30 | 66,568 | 0 | |
EAMMB LIMITED | 3RD FLOOR, 207 REGENT STREET, LONDON, W1B 3HH | 08654216 | 2018-08-31 | 60,165 | 0 | |
THE AUTO CLINIC LIVERTON LIMITED | UNIT 24 LANTSBERY DRIVE, LIVERTON INDUSTRIAL ESTATE, LIVERTON MINES, TS13 4QZ | 08902228 | 2017-02-28 | 58,315 | 0 | |
SYNERGMOTIVE LTD | 28 KNOT TIERS MEWS, UPTON, NORTHAMPTON, ENGLAND, NN5 4FS | 07855802 | 2018-11-30 | 58,110 | 0 | |
ARLAUR LTD | 5 BUTCHERS CLOSE, BISHOPS ITCHINGTON, SOUTHAM, WARWICKSHIRE, UNITED KINGDOM, CV47 2PX | 10088550 | 2018-03-31 | 58,039 | 0 | |
AISRET LIMITED | 2 QUAKER CLOSE, FENNY DRAYTON, NUNEATON, WARWICKSHIRE, CV13 6BS | 07965361 | 2019-02-28 | 51,881 | 0 | |
AUTO CONSULTING OFFICE LTD | 1403 THE ROTUNDA, 150 NEW STREET, BIRMINGHAM, ENGLAND, B2 4PE | 08215588 | 2018-09-30 | 33,887 | 0 | |
GS DESIGN CENTER LTD | 3RD FLOOR, 207 REGENT STREET, LONDON, W1B 3HH | 08355215 | 2019-01-31 | 32,036 | 0 | |
J.G.H AEROMOTIVE LIMITED | 51 KINGCUP DRIVE, BISLEY, WOKING, GU24 9HH | 10412941 | 2017-10-31 | 31,028 | 0 | |
DRIVING DAISY LTD | 51 ALLANTON AVENUE, PAISLEY, RENFREWSHIRE, PA1 3BN | SC489722 | 2017-12-31 | 29,335 | 0 | |
ADAM RESOLUTION LTD | 141 EVESHAM ROAD, 141 EVESHAM ROAD, REDDITCH, WORCESTERSHIRE, UNITED KINGDOM, B97 4JX | 10657083 | 2019-03-31 | 23,571 | 0 | |
HANNIS ENGINEERING LTD | 52 PILLEY CRESCENT, CHELTENHAM, GLOUCESTERSHIRE, GL53 9ET | 09169860 | 2017-08-31 | 21,206 | 0 | |
BELLINI AEROSPACE LTD | 17 RIVERSIDE RIVERSIDE, HIGHTOWN, LIVERPOOL, UNITED KINGDOM, L38 0BU | 10470134 | 2018-11-30 | 4,180 | 0 |
30300-Manufacture of air and spacecraft and related machinery 30400-Manufacture of military fighting vehicles |
ALTERNATIVE CARS LIMITED | 10 HAZEL ROAD, BOTLEY, OXFORD, OXFORDSHIRE, OX2 9LF | 04943896 | 2017-10-31 | 2,974 | 0 |
74100-specialised design activities |
THE NARROW CAR COMPANY LIMITED | OTWAYS QUAY STREET, ORFORD, WOODBRIDGE, SUFFOLK, ENGLAND, IP12 2NU | 05031181 | 2018-02-28 | 1,666 | 0 |
41202-Construction of domestic buildings 71122-Engineering related scientific and technical consulting activities |
DOWNTON ENGINEERING WORKS LIMITED | HIGHCLERE HOUSE, 2 CLARENDON AVENUE, ANDOVER, HAMPSHIRE, SP10 2LX | 02880309 | 2018-03-31 | 1,098 | 0 |
29320-Manufacture of other parts and accessories for motor vehicles |
THE ALVIS CAR COMPANY LIMITED | COMMON LANE INDUSTRIAL ESTATE, COMMON LANE, KENILWORTH, WARWICKSHIRE, CV8 2EL | 06922352 | 2018-12-31 | 0 | 0 | |
JAGUAR LAND ROVER HOLDINGS LIMITED | ABBEY ROAD, WHITLEY, COVENTRY, ENGLAND, CV3 4LF | 04019301 | 0000-00-00 | 0 | 0 | |
PACCAR PARTS U.K. LIMITED | 9400 GARSINGTON ROAD, OXFORD BUSINESS PARK, OXFORD, ENGLAND, OX4 2HN | 02799338 | 0000-00-00 | 0 | 0 | |
PACCAR TRUCKS U.K. LTD | 9400 GARSINGTON ROAD, OXFORD BUSINESS PARK, OXFORD, OX4 2HN | 03525173 | 0000-00-00 | 0 | 0 |
LIQUIDATION RISK (BETA)
This company is Liquidation. Statistically, such companies have a VERY HIGH probability of being liquidated within a year.
Here are our probability predictions:
Basis | Liquidation within 3 months | Liquidation within 6 months | Liquidation within 12 months | Prediction confidence |
---|---|---|---|---|
Company status | 100.0% | 99.4% | 99.9% | High |
Other companies Active in the same sector | 2.1% | 8.0% | 19.5% | Medium |
Age | 0.3% | 1.3% | 2.4% | Medium |
Company Type | 0.7% | 3.7% | 7.4% | Medium |
Accounts category | 0.7% | 2.2% | 3.8% | Medium |
Accounting Month | 0.6% | 2.4% | 5.5% | Medium |
Sic code count | 0.8% | 3.8% | 7.5% | Medium |