MIRA INFORM REPORT

Report Date :

23.08.2007

IDENTIFICATION DETAILS

Name :	I S VARIAN & COMPANY

Registered Office :	Unit 1, Greenhills Indu Estate, Greenhills Rd, Walkinstown, Dubl

Country :	Ireland

Financials (as on) :	31.12.2004

Date of Incorporation :	25/06/1993

Com. Reg. No.:	IE204273

Legal Form :	Private Limited Liability Company (IE)

Line of Business :	Subject is registered to operate as miscellaneous business services.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small Company

Payment Behaviour :	No Complaints

Litigation :	Clear

Company Identification Details


Subject Reported on	I S VARIAN & COMPANY
Trading Address	Unit 1,Greenhills Ind Est,Dublin,12

Telephone	01 450 1150



Risk Score	Accounts which should have been filed are late

Significant Event

Please note Name Change


It should be noted that I S VARIAN & COMPANY LIMITED has changed its legal form, from PRIVATE to legal form PRIVATE LIMITED BY SHARES.

Official Company Data


Legal Form	Private Limited Liability Company (IE)
Registration Number	IE204273
Date of Incorporation	25/06/1993
Registered Office	UNIT 1, GREENHILLS INDU ESTATE, GREENHILLS RD, WALKINSTOWN, DUBL
Activities	Subject is registered to operate as miscellaneous business services.

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

DIRECTOR

PATRICK THOMAS VARIAN

Occupation

Address

102B LOWER CHURCHTOWN ROAD ,

Date of Birth

19/03/1945

Appointment Date

10/02/1994

Other Appointments

I S VARIAN (MANUFACTURING), I S VARIAN & COMPANY

DIRECTOR

NEIL KENEFICK

Occupation

Address

TIGEEN , CORK. ,

Date of Birth

09/09/1958

Appointment Date

28/10/1993

Other Appointments

D. O'SULLIVAN & CO. (CORK), DOSCO PROPERTIES LIMITED, DOSCO, DOSCO (EXPORT), UPDATE, I S VARIAN (MANUFACTURING), I S VARIAN & COMPANY, ISVAR, CARRIVILLE, MONSERAT, JAZDALE COMPANY, CALITO LIMITED

DIRECTOR

JAMES MCGRATH

Occupation

Address

WINDWARD , DOUGLAS , CORK. ,

Date of Birth

27/05/1954

Appointment Date

28/10/1993

Other Appointments

D. O'SULLIVAN & CO. (CORK), DOSCO, DOSCO (EXPORT), UPDATE, I S VARIAN (MANUFACTURING), I S VARIAN & COMPANY, ISVAR, CARRIVILLE, MONSERAT, JAZDALE COMPANY

DIRECTOR

MICHAEL O'SULLIVAN

Occupation

Address

28 PINECROFT , GRANGE , DOUGLAS ,

Date of Birth

27/04/1950

Appointment Date

06/04/2001

Other Appointments

I S VARIAN (MANUFACTURING), I S VARIAN & COMPANY

DIRECTOR

MICHAEL O'SULLIVAN

Occupation

Address

2 , MARYBOROUGH WOODS , MARYBOROUGH HILL DOUGLAS CORK ,

Date of Birth

Appointment Date

06/04/2001

Other Appointments

D. O'SULLIVAN & CO. (CORK), DOSCO, DOSCO (EXPORT), UPDATE, I S VARIAN (MANUFACTURING), I S VARIAN & COMPANY, ISVAR, CARRIVILLE, MONSERAT, JAZDALE COMPANY

DIRECTOR

THOMAS BYRNE

Occupation

Address

72 BROADFORD DRIVE , DUBLIN 16. ,

Date of Birth

20/12/1965

Appointment Date

01/06/2005

Other Appointments

I S VARIAN (MANUFACTURING), I S VARIAN & COMPANY

SECRETARY

MICHAEL O'SULLIVAN

Address

2, GREENDALE ROAD, MARYBOROUGH WOOD, MARYBOROUGH HILL, DOUGLAS, CORK , MARYBOROUGH HILL DOUGLAS CORK

Country of Origin

Appointment Date

24/03/2003

Recently Resigned Directors (last 3)

None

Share Summary


Priniciple Shareholders:	Type Of Share	No. of Shares	Value	%age
D.O'Sullivan & Co (Cork) Ltd				50.00
Neil Kenefick				50.00

Mortgages and Charges

There are no mortgages

Public Record Information

Summary of CCJ's/Scottish Decrees

There are no unsatisfied CCJs against the company.

Operations


Activities	Subject is registered to operate as miscellaneous business services.
Sic Code	Description
7484	Other business activities not elsewhere classified
Staff Employed	35

Financial Data

The following figures are shown in units of 000

Profit and Loss

Number of Weeks	52	52	52	52
Accounts Date	31/12/2004	31/12/2003	31/12/2002	31/12/2001
Currency	euro	euro	euro	euro
Consolidated?	No	No	No	No
RETAINED PROFITS	-	-	-	-

Balance Sheet

Number of Weeks	52	52	52	52
Accounts Date	31/12/2004	31/12/2003	31/12/2002	31/12/2001
Currency	euro	euro	euro	euro
Consolidated?	No	No	No	No
TOTAL FIXED ASSETS	181	156	151	1,415
Plant, machinery & equipment	181	156	151	168
TOTAL CURRENT ASSETS	1,664	3,673	3,332	1,953
Stocks	574	574	511	464
Trade Debtors	996	1,183	1,228	1,332
Group Loans	16	1,755	1,411	16
Cash	78	161	182	142
TOTAL ASSETS	1,844	3,828	3,483	3,368
TOTAL CURRENT LIABILITIES	1,176	3,150	3,124	3,056
Trade Creditors	887	841	880	900
Taxes	154	164	111	95
Due From Group	107	2,117	2,077	2,009
Proposed Dividend	28	27	57	52
WORKING CAPITAL	488	523	208	-1,103
TOTAL LONG TERM LIABS	0	0	0	0
NET ASSETS/(LIABILITIES)	668	679	359	312
SHARE CAPITAL + RESERVES	668	679	359	312
Issued Share Capital	0	0	0	0
Profit and Loss account	668	679	359	312
SHAREHOLDERS FUNDS	668	679	359	312
CAPITAL EMPLOYED	668	679	359	312
TANGIBLE NET WORTH	668	679	359	312

Key Credit Ratios

Accounts Date	31/12/2004	31/12/2003	31/12/2002	31/12/2001
Current Ratio	1.41	1.17	1.07	0.64
Quick Ratio	-	-	-	-
T.N.W/Total Assets	0.36	0.18	0.10	0.09

Financial Summary

Working Capital	The company's working capital decreased in the period by 7%
Tangible Net Worth	Net worth reduced by 11,000 during the period and now stands at euro 668,000
Fixed Assets	The subjects fixed assets increased during the period by euro 25,000 to euro 181,000 and are now 10% of total assets compared with 4% in the previous period

RATING EXPLANATIONS

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.	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

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 and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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