FORCE INDIA FORMULA ONE TEAM LIMITED

2ND FLOOR, 110 CANNON STREET, LONDON, EC4N 6EU, EC4N 6EU

Previous 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-2018
Accounts 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**
Insufficient available data for calculating valuations.

DISPUTES

No disputes filed on www.disputesregister.org

COMPANY 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 - 41 (25.0%)
Active Sandeep WADHWA 27 Oct 2011 Director Indian 1 - 21 (33.3%)
Active Robert George FERNLEY 27 Oct 2011 Director British 3 - 138 (50.0%)
Active Subrata Roy SAHARA 27 Oct 2011 Director Indian 2 - 22 (50.0%)
Active Abhijit SARKAR 27 Oct 2011 Director Indian 1 - 21 (33.3%)
Active Sushanto ROY 27 Oct 2011 Director Indian 1 - 21 (33.3%)
Resigned Vijay, Dr MALLYA 02 Nov 2009 24 May 2018 Team Principal Indian 0 - 31 (33.3%)
Resigned Ayani Kurussi Ravindranath NEDUNGADI 02 Nov 2009 15 May 2017 Cfo Indian 0 - 31 (33.3%)
Active Thiruvannamalai Venkatesan LAKSHMI KANTHAN 09 Jan 2009 Consultant British 16 - 3419 (38.0%)
Resigned Victor Roberto MULLER 28 Sep 2006 05 Oct 2007 Chief Executive Officer Dutch 0 - 31 (33.3%)
Resigned Michiel MOL 28 Sep 2006 29 Sep 2011 Director Of F1 Racing Dutch 0 - 31 (33.3%)
Resigned Oedithnarain JAHRIA 28 Sep 2006 01 Jul 2007 Managing Director Dutch 0 - 11 (100.0%)
Resigned Richard BORSBOOM 28 Sep 2006 19 Mar 2009 Chief Finanical Officer Dutch 0 - 42 (50.0%)
Resigned Colin KOLLES 21 Jan 2005 31 Oct 2009 Director German 0 - 31 (33.3%)
Resigned Alexander SHNAIDER 21 Jan 2005 28 Sep 2006 Director Canadian 0 - 118 (72.7%)
Resigned Martin Thomas PRYOR 21 Jan 2005 28 Sep 2006 Company Director British 0 - 117 (63.6%)
Resigned Derek Robin ROE 21 Jan 2005 28 Sep 2006 Director British 1 - 53 (50.0%)
Resigned Joseph SCHULL 01 Feb 2001 26 Sep 2003 Finance Canadian 0 - 41 (25.0%)
Resigned Nicholas LOWCOCK 05 Nov 1998 01 Feb 2001 Vice President British 0 - 104 (40.0%)
Resigned Dominic Hugh SHORTHOUSE 05 Nov 1998 15 Mar 2004 Managing Director British 7 - 4212 (24.5%)
Resigned Edmund Patrick JORDAN 01 Dec 1997 21 Jan 2005 Race Team Manager Irish 0 - 75 (71.4%)
Resigned Marie Patricia JORDAN 22 Dec 1995 21 Jan 2005 Company Director Irish 2 - 63 (37.5%)
Resigned Edmund Patrick JORDAN 21 Jan 2005 Race Team Manager Irish 0 - 75 (71.4%)
Number of active directors: 6
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

Name
 
STEEL BROTHERS AND COMPANY LIMITED (00032668) - Active
BLANTYRE MANAGEMENT LIMITED (01430245) - Active - Proposal to Strike off
UNITED BREWERIES INTERNATIONAL (U.K.) LIMITED (01688201) - Active
FORCE INDIA FORMULA ONE TEAM LIMITED (02417588) - Liquidation
FOOTWEAR ENTERPRISES LIMITED (02594270) - Dissolved
BLANTYRE FINANCE LIMITED (02725381) - Active
BLANTYRE PROPERTIES LIMITED (02725715) - Active
BUSH HALL HOTEL LIMITED (03220503) - Dissolved
FORCE INDIA BRAND LIMITED (03468947) - Active
FORCE INDIA FORMULA ONE LIMITED (03660294) - Active
AQUACULTURE INVESTMENTS LIMITED (04407922) - Dissolved
SAN SOFT EUROPE LIMITED (04816835) - Dissolved
SENSOR DATA SERVICES LIMITED (04873255) - Active
FXA WORLD LIMITED (05182873) - Dissolved
KEDBROOKE INDUSTRIES LIMITED (05379278) - Active
CARRY MY CASE LIMITED (05396983) - Active
LANDMARK FASHION DESIGNS LIMITED (05479958) - Dissolved
BMFI LIMITED (05544593) - Active
SARVA SHRI LIMITED (05551909) - Active
VENKATA SHRI LIMITED (05551924) - Active
SHRI LIMITED (05551930) - Active
CONCORD IT SERVICES LTD (05717568) - Active
VARAHA LIMITED (05717572) - Dissolved
MATCHA BRICK LIMITED (05717584) - Dissolved
VAMANA LIMITED (05717596) - Dissolved
AQUACULTURE PRODUCTS & SERVICES LIMITED (06307698) - Active
CONSULT AND SUPPLY LIMITED (06488178) - Active
KINGFISHER AIRLINES (INTERNATIONAL) LIMITED (06512669) - Dissolved
KINGFISHER AIRLINES (UK) LIMITED (06523982) - Dissolved
PORT MANAGEMENT LIMITED (06706747) - Active
SNUG AS A BUG LTD (07198744) - Active - Proposal to Strike off
AAMBY VALLEY (UK) LIMITED (08134296) - Active - Proposal to Strike off
HELICOPTER CHARTER SERVICES LIMITED (08863790) - Active
ASR PROPERTY SOLUTIONS LTD (09605076) - Active
PALACE ENTERPRISES LIMITED (10591888) - Active
FORCE FORMULA ONE TEAM LTD (11065542) - Active
TIERRA BLANCA LIMITED (11345553) - Active
VENKATAM PROPERTIES LIMITED (11353810) - Active
APPS BUSINESS IT SOLUTIONS UK LTD (11456968) - Active
FAST TRACK MOTORSPORTS LTD (13173750) - Active - Proposal to Strike off
MCDOWELL & CO. (SCOTLAND) LTD. (SC145242) - Active

SHAREHOLDERS (BETA)

Shareholder name Share class Shares at confirmation date
2015-08-292014-08-292013-08-292012-08-292011-08-29
ORANGE INDIA HOLDINGS S.A.R.LORDINARY80,010,000
100%
80,010,000
100%
80,010,000
100%
80,010,000
100%
0
0%
FORCE INDIA FORMULA ONE LIMITEDORDINARY0
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
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