MIRA
INFORM REPORT
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Report Date : |
25th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
SHANNON
COILED SPRINGS LIMITED |
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Registered Office : |
Crossagalla
Industrial Estate, Tipperary Road, Limerick |
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Country : |
Ireland |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
14.04.1978 |
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Com. Reg. No.: |
IE062269 |
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Legal Form : |
Private Limited with share capital |
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Line of Business : |
Manufacture of fasteners, screw machine products, chain and
springs |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
EUR 122,800 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company Identification Details
Subject Reported on SHANNON COILED SPRINGS LIMITED
Trading Address CROSSAGALLA INDUSTRIAL ESTATE, TIPPERARY ROAD,
LIMERICK
Telephone (061) 31 16 66
Risk Score 58 out of 100
Average Risk - This company has an average risk status and should be treated with a degree of caution
Credit Limit EUR 122,800
Selling to this company? The Credit Limit is the recommended maximum outstanding debtor exposure at any one time.
Contract Limit EUR 1,085,700
Buying from this company? The Contract Limit is the recommended aggregate annual value for supply contracts.
Official Company Data
|
Legal Form |
Private Limited with share capital |
|
Registration Number |
IE062269 |
|
Date of Incorporation |
14/04/1978 |
|
Registered Office |
CROSSAGALLA INDUSTRIAL ESTATE,, BALLYSIMON ROAD, . |
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Date of Last Annual Return to Registry |
30/09/2005 |
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Activities |
The subject is engaged in the manufacture of springs, supplying
to a wide variety of businesses, covering both domestic and international
markets, principally to manufacturers of agricultural machinery,medicare and
the electronics industry. Business is conducted from an 11,200 sq.ft.
freehold premises in Limerick, which is the businesses sole trading location.
The company employs 30 members of staff in total. - - |
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Accounts |
The last filed accounts cover the period to 31/12/2004 and were
presented to Companies House on |
Recently Filed Documents
Details of the most recent documents
|
Date Received |
Description |
It should be noted that there is no legal requirement to file satisfaction details of mortgages/charges at Companies House.
Known Directors
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DIRECTOR |
JOHN WALSH |
|
Address |
54 , ENNIS ROAD , LIMERICK
, |
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Date
of Birth |
25/10/1943 |
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Appointment
Date |
01/01/2001 |
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Other
Appointments |
WIRE FENCING LIMITED, THE
LIMERICK CITY ENTERPRISE BOARD LIMITED |
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DIRECTOR |
MARIE WALSH |
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Address |
54 ASHBROOK , LIMERICK.
, |
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Date
of Birth |
11/02/1948 |
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Appointment
Date |
01/01/2001 |
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DIRECTOR |
EAMON BARRETT |
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Address |
11 RUSSELL CLOSE , LIMERICK.
, |
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Date
of Birth |
25/08/1959 |
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Appointment
Date |
01/01/2001 |
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DIRECTOR |
SHIRLEY MULLANE |
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Address |
54 ASHBROOK , LIMERICK
, |
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Date
of Birth |
21/10/1968 |
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Appointment
Date |
01/01/2002 |
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SECRETARY |
JOHN WALSH |
|
Address |
, 54 , ENNIS ROAD
, LIMERICK , |
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Date
of Birth |
25/10/1943 |
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Appointment
Date |
01/01/2001 |
Recently Resigned Directors (last
3)
None
Share Summary
Share information is
not held for this company.
Mortgages and Charges
|
Total Registered |
15 |
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Total Outstanding |
14 |
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Total Satisfied |
1 |
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Date Registered |
08/06/2000 |
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Satisfied? |
No |
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Date Registered |
08/06/2000 |
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Satisfied? |
No |
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Date Registered |
17/11/1998 |
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Satisfied? |
No |
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Date Registered |
21/06/1996 |
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Satisfied? |
No |
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Date Registered |
21/12/1995 |
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Satisfied? |
No |
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Date Registered |
21/12/1995 |
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Satisfied? |
No |
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Date Registered |
25/01/1991 |
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Satisfied? |
No |
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Date Registered |
20/12/1990 |
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Satisfied? |
No |
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Date Registered |
16/01/1990 |
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Date Created |
12/01/1990 |
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Satisfied? |
No |
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Date Registered |
28/09/1988 |
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Satisfied? |
No |
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Date Registered |
15/06/1987 |
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Satisfied? |
No |
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Date Registered |
15/06/1987 |
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Date Created |
28/05/1987 |
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Satisfied? |
No |
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Date Registered |
14/02/1986 |
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Satisfied? |
No |
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Date Registered |
30/05/1985 |
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Satisfied? |
Fully |
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Date Registered |
22/11/1978 |
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Date Created |
13/11/1978 |
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Satisfied? |
No |
Public Record Information
Summary of CCJ's/Scottish Decrees
There are no
unsatisfied CCJs against the company.
Operations
|
Activities |
The subject is engaged in the manufacture of springs, supplying
to a wide variety of businesses, covering both domestic and international markets,
principally to manufacturers of agricultural machinery, Medicare and the
electronics industry. Business is conducted from an 11,200 sq.ft. freehold
premises in Limerick, which is the businesses sole trading location. The
company employs 30 members of staff in total. - - |
|
Sic Code |
Description |
|
2874 |
Manufacture of fasteners, screw machine products, chain and
springs |
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Staff Employed |
30 |
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Auditors |
Griffin M.L. & Co., |
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Auditors Notes |
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Bankers |
Ulster Bank |
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Sort Codes |
986020 |
Financial Data
PROFIT AND LOSS
The following figures
are shown in units of EUR '000
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2004 |
31/12/2003 |
28/02/2002 |
28/02/2001 |
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Currency |
EUR '000 |
EUR '000 |
EUR '000 |
EUR '000 |
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Consolidated? |
No |
No |
No |
No |
BALANCE SHEET
The following figures
are shown in units of EUR '000
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2004 |
31/12/2003 |
28/02/2002 |
28/02/2001 |
|
Currency |
EUR '000 |
EUR '000 |
EUR '000 |
EUR '000 |
|
Consolidated? |
No |
No |
No |
No |
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TOTAL FIXED ASSETS |
3,556 |
3,475 |
3,200 |
2,873 |
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Tangible Assets |
3,556 |
3,475 |
3,200 |
2,873 |
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Fixed Assets |
3,127 |
3,046 |
2,248 |
2,873 |
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Intermediate Assets |
429 |
429 |
952 |
- |
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TOTAL CURRENT ASSETS |
2,245 |
1,695 |
1,599 |
2,152 |
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Total Debtors |
1,343 |
839 |
1,191 |
1,622 |
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Trade Debtors |
878 |
- |
767 |
1,209 |
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Director Loans |
- |
- |
- |
-23 |
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Other Debtors |
465 |
839 |
424 |
389 |
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Stocks/WIP |
515 |
362 |
362 |
485 |
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Stocks |
515 |
362 |
50 |
480 |
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Work in Progress |
- |
- |
312 |
5 |
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Cash |
386 |
10 |
45 |
45 |
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Other Current Assets |
- |
484 |
- |
- |
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TOTAL ASSETS |
5,801 |
5,170 |
4,799 |
5,026 |
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TOTAL CURRENT LIABILITIES |
1,252 |
773 |
675 |
481 |
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Trade creditors |
- |
- |
- |
393 |
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Short Term Loans |
- |
- |
- |
28 |
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Corporation Tax |
- |
86 |
32 |
60 |
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Other Current Liabilities |
1,252 |
687 |
493 |
- |
|
Misc Current Liabilities |
0 |
0 |
151 |
0 |
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WORKING CAPITAL |
993 |
922 |
924 |
1,672 |
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TOTAL LONG TERM LIABS |
2,595 |
2,499 |
1,427 |
1,328 |
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Long Term Loans |
- |
2,448 |
1,427 |
1,328 |
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Other Liabilities |
2,594 |
- |
- |
- |
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Total Hire Purchase / Leasing |
- |
51 |
- |
- |
|
Total Provisions |
0 |
- |
- |
- |
|
NET ASSETS/(LIABILITIES) |
1,954 |
1,898 |
2,697 |
3,218 |
|
SHARE CAPITAL + RESERVES |
1,954 |
1,898 |
2,697 |
3,218 |
|
Issued Share Capital |
132 |
132 |
962 |
1,212 |
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Profit and Loss account |
538 |
501 |
1,279 |
1,769 |
|
Sundry Reserves |
1,284 |
1,264 |
455 |
237 |
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SHAREHOLDERS FUNDS |
1,954 |
1,898 |
2,697 |
3,218 |
|
CAPITAL EMPLOYED |
4,549 |
4,397 |
4,124 |
4,545 |
KEY CREDIT RATIOS
|
Accounts Date |
31/12/2004 |
31/12/2003 |
28/02/2002 |
28/02/2001 |
|
Current Ratio |
1.79 |
2.19 |
2.37 |
4.48 |
|
Long Term Debt/T.N.W (%) |
13278.00 |
13168.00 |
5292.00 |
4126.00 |
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Profit Before Tax |
0.00 |
0.00 |
0.00 |
0.00 |
|
Debtors Days (D.S.O) |
0.00 |
0.00 |
0.00 |
0.00 |
|
Quick Ratio |
0.00 |
0.00 |
0.00 |
346.95 |
|
Return on Assets |
0.00 |
0.00 |
0.00 |
0.00 |
|
T.N.W/Total Assets |
119.17 |
528.04 |
87.22 |
845.16 |
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Return on Capital |
0.00 |
0.00 |
0.00 |
0.00 |
|
Rtn on Shareholders Funds |
0.00 |
0.00 |
0.00 |
0.00 |
|
Working Capital/Sales |
0.00 |
0.00 |
0.00 |
0.00 |
|
Borrowing Ratio |
1.97 |
1.72 |
0.78 |
0.56 |
|
Equity Gearing |
1.56 |
2.46 |
4.00 |
6.69 |
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Stock Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
FINANCIAL COMPARISON
The following figures
are shown in units of EUR '000
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2004 |
31/12/2003 |
28/02/2002 |
28/02/2001 |
|
Currency |
EUR '000 |
EUR '000 |
EUR '000 |
EUR '000 |
|
Other Deferred Liabs |
2,594 |
- |
- |
- |
|
Tangible Net Worth(T.N.W) |
1,954 |
1,898 |
2,697 |
3,218 |
|
Equity |
1,954 |
1,898 |
2,697 |
3,218 |
|
Number of Employees |
30 |
- |
- |
- |
Financial Summary
|
Working Capital |
The company's working capital improved in the period by 8% |
|
Tangible Net Worth |
Net worth increased by 56,277 during the period and now stands
at EUR 1,954,171 |
|
Fixed Assets |
The subjects fixed assets increased during the period by
EUR 81,448 to EUR 3,556,143 and are now 61% of total assets
compared with 67% in the previous period |
|
Long Term Liabilities |
The company's long term liabilities increased during the period
by 4% and are now 133% of net worth compared with 132% in the previous period
|
|
Long Term Liabilities |
Long term liabilities are now 45% of total assets compared with
48% in the previous period |
|
Long Term Liabilities |
Long term liabilities are 57% of capital employed an increase of
0% over the previous period |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base
with the strongest capability for timely payment of interest and principal
sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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