MIRA
INFORM REPORT
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Report Date : |
03.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
WEATHERFORD WELL SCREEN IRELAND LIMITED |
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Registered Office : |
Dublin Road, Celbridge, Co Kildare |
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Country : |
Ireland |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
24.06.1966 |
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Com. Reg. No.: |
IE023881 |
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Legal Form : |
Private Limited Liability Company (IE) |
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Line of Business : |
Industrial Machinery and Equipment Wholesalers.
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RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
Euro 18,700 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
WEATHERFORD WELL SCREEN IRELAND LIMITED |
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Holding Company |
Weatherford Lamb Inc |
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Ultimate Holding Company |
Weatherford International Ltd. |
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Trading Address |
DUBLIN ROAD,CELBRIDGE, |
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Telephone |
01 627 0774 |
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Above Average Risk - Assurances in the form of guarantees
may be necessary especially if the Credit Limit assigned is required to be
exceeded |
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Credit Limit |
euro 18,700 |
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Selling to this company? The Credit Limit is the recommended
maximum outstanding debtor exposure at any one time. |
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Contract Limit |
euro 273,900 |
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Buying from this company? The Contract Limit is the
recommended aggregate annual value for supply contracts. |
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Significant Event
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Subject's parent company is Weatherford Lamb Inc. Weatherford Completion Systems is a registered business
name of the subject company. |
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Official Company Data
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Legal Form |
Private Limited Liability Company (IE) |
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Registration Number |
IE023881 |
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Date of Incorporation |
24/06/1966 |
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Registered Office |
DUBLIN ROAD, CELBRIDGE, CO KILDARE |
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Activities |
Subject is registred to operate as industrial machinery
& equipment wholesalers. |
Recently Filed Documents
Details
of the most recent documents
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Date
Received |
Description |
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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 |
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Occupation |
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Address |
4 RUE ST HILLAIRE , FRANCE , |
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Date of Birth |
11/07/1951 |
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Appointment Date |
06/10/2003 |
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Other Appointments |
WEATHERFORD WELL SCREEN IRELAND LIMITED |
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DIRECTOR |
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Occupation |
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Address |
LODGE PARK , CO.KILDARE , |
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Date of Birth |
27/11/1957 |
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Appointment Date |
29/03/2000 |
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Other Appointments |
WEATHERFORD WELL SCREEN IRELAND LIMITED |
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DIRECTOR |
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Occupation |
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Address |
29 BOADFOLD DRIVE , ABERDEEN AB23 8PJ , SCOTLAND
, |
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Date of Birth |
30/10/1955 |
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Appointment Date |
11/06/2002 |
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Other Appointments |
WEATHERFORD WELL SCREEN IRELAND LIMITED |
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SECRETARY |
PETER GIBSON |
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Address |
KELLYSTOWN, , LEIXLIP , CO KILDARE |
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Country of Origin |
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Appointment Date |
08/03/1988 |
Recently Resigned Directors (last
3)
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DIRECTOR |
NICHOLAS WILDING GEE |
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Address |
, 5 , LYNE OF SKENE , ABERDEENSHIRE AB32
7BQ , - - |
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Date of Birth |
06/03/1963 |
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Resignation Date |
25/08/2003 |
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DIRECTOR |
THIERRY EMILE REYNERS |
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Address |
, CALLE DOCTOR FLEMING 44 , SPAIN
, - - |
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Date of Birth |
06/05/1944 |
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Resignation Date |
29/03/1999 |
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DIRECTOR |
JOHN MCADAM |
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Address |
, HIEDRA 47 , SOTO DE LA MARALEJA , MADRID
, - - |
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Date of Birth |
17/03/1949 |
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Resignation Date |
29/03/1999 |
Share Summary
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Share Currency: |
GBP |
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Priniciple Shareholders: |
Type Of Share |
No. of Shares |
Value |
Voting %age |
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Weatherford Lamb Inc |
ORD |
92,000 |
82,800.00 |
100.00 |
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Mortgages and Charges
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Total Registered |
1 |
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Total Outstanding |
1 |
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Total Satisfied |
0 |
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Date Registered |
04/07/2000 |
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Satisfied? |
No |
Public Record Information
Summary
of CCJ's/Scottish Decrees
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There are no unsatisfied CCJs against the company. |
Operations
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Activities |
Subject is registred to operate as industrial machinery
& equipment wholesalers. |
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Sic Code |
Description |
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5162 |
Wholesale of construction machinery |
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Staff Employed |
43 |
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Bankers |
Allied Irish Banks PLC |
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Sort Codes |
933635 |
Financial Data
Profit and Loss
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
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Currency |
euro |
euro |
euro |
euro |
|
Units |
units |
units |
units |
units |
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Consolidated? |
No |
No |
No |
No |
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Other operating income |
98,953 |
33,425 |
600,001 |
- |
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GROSS PROFIT |
76,382 |
-3,757 |
378,458 |
427,431 |
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General administration costs (-) |
616,538 |
503,766 |
164,682 |
574,583 |
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Wages and Salaries |
2,037,780 |
1,903,102 |
2,134,814 |
2,121,223 |
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Depreciation |
264,798 |
324,577 |
330,738 |
336,307 |
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Net Operating Profit(Loss) |
-441,202 |
-474,099 |
679,352 |
-352,107 |
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Group Non Trading Income |
7,734 |
- |
8,255 |
14,765 |
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Other financial income |
36,001 |
114,000 |
- |
- |
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Total Non Trading Income |
43,735 |
114,000 |
9,575 |
16,264 |
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Interest expenses & similar (-) |
22,549 |
131,916 |
167,679 |
175,136 |
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Other financial charges |
216,968 |
152,402 |
- |
- |
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Financial Expenses |
239,517 |
284,317 |
167,679 |
175,136 |
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PRE TAX PROFIT |
-636,984 |
-644,416 |
521,248 |
-510,979 |
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Other Taxation |
-6,750 |
-8,625 |
- |
-2,166 |
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Taxation |
0 |
0 |
- |
0 |
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PROFIT AFTER TAX |
-630,234 |
-635,791 |
521,248 |
-508,813 |
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Net Loss |
630,234 |
635,791 |
- |
508,813 |
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Dividends Payable |
0 |
0 |
0 |
0 |
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RETAINED PROFITS |
- |
- |
521,248 |
- |
Balance Sheet
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Number of Weeks |
52 |
52 |
52 |
52 |
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Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
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Currency |
euro |
euro |
euro |
euro |
|
Units |
units |
units |
units |
units |
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Consolidated? |
No |
No |
No |
No |
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TOTAL FIXED ASSETS |
3,617,884 |
3,754,432 |
4,059,201 |
4,375,890 |
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Land & buildings |
2,701,989 |
2,783,261 |
2,864,535 |
2,945,808 |
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Plant, machinery & equipment |
836,270 |
971,171 |
1,194,666 |
1,430,082 |
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Other long term assets |
79,625 |
- |
- |
- |
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TOTAL CURRENT ASSETS |
3,318,256 |
3,055,714 |
1,769,932 |
3,629,760 |
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Stocks |
1,330,080 |
1,425,444 |
1,274,797 |
1,368,754 |
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Trade Debtors |
36,496 |
1,102,209 |
23,264 |
1,056,783 |
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Other Receivables |
3,774 |
18,200 |
20,628 |
27,522 |
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Prepaid expenses |
18,207 |
19,915 |
34,452 |
22,358 |
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Group Loans |
1,491,099 |
385,320 |
75,755 |
894,391 |
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Cash |
438,601 |
104,626 |
341,036 |
259,953 |
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TOTAL ASSETS |
6,936,140 |
6,810,145 |
5,829,134 |
8,005,649 |
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TOTAL CURRENT LIABILITIES |
5,703,606 |
4,782,740 |
2,741,822 |
4,986,126 |
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Trade Creditors |
1,074,701 |
266,698 |
397,006 |
711,994 |
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Bank Overdraft |
308,482 |
344,642 |
344,642 |
344,642 |
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Taxes |
37,296 |
25,900 |
67,167 |
31,107 |
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Due From Group |
4,088,786 |
3,898,017 |
1,750,089 |
3,704,277 |
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Hire Purchase |
33,023 |
127,781 |
113,988 |
113,987 |
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Accruals & deferred income |
161,318 |
101,820 |
68,929 |
80,118 |
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WORKING CAPITAL |
-2,385,350 |
-1,727,027 |
-971,889 |
-1,356,366 |
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TOTAL LONG TERM LIABS |
0 |
436,760 |
776,003 |
1,229,462 |
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NET ASSETS/(LIABILITIES) |
1,232,533 |
2,027,405 |
3,087,312 |
3,019,523 |
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SHARE CAPITAL + RESERVES |
1,232,534 |
1,590,644 |
2,311,309 |
1,790,061 |
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Issued Share Capital |
115,000 |
115,000 |
115,000 |
37,500 |
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Reserves |
592 |
592 |
592 |
592 |
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Profit and Loss account |
1,116,942 |
1,475,052 |
2,195,717 |
1,751,969 |
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SHAREHOLDERS FUNDS |
1,232,534 |
1,590,644 |
2,311,309 |
1,790,061 |
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CAPITAL EMPLOYED |
1,232,534 |
2,027,404 |
3,087,312 |
3,019,523 |
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TANGIBLE NET WORTH |
1,232,533 |
1,590,644 |
2,311,309 |
1,790,062 |
Key Credit Ratios
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Current Ratio |
0.58 |
0.64 |
0.65 |
0.73 |
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Quick Ratio |
0.35 |
0.34 |
0.18 |
0.45 |
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Return on Assets |
-9.29 |
-9.46 |
8.94 |
-6.38 |
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T.N.W/Total Assets |
0.18 |
0.23 |
0.40 |
0.22 |
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Return on Capital |
-51.68 |
-31.79 |
16.88 |
-16.92 |
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Equity Gearing |
- |
0.11 |
- |
- |
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Solvency (%) |
462.75 |
328.14 |
152.20 |
347.23 |
Financial Summary
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Operating Loss |
Totalled euro -441,202,units In the period prior a
loss of euro 474,099,units was achieved. |
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Pre Tax |
The subject made a loss of euro 636,984,units
compared with a loss of euro 644,416,units in the previous period. |
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Working Capital |
The company's working capital deficiency increased in the period
and now stands at euro 2,385,350,units |
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Tangible Net Worth |
Net worth reduced by 358,111 during the period and now
stands at euro 1,232,533,units |
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Fixed Assets |
The subjects fixed assets reduced during the period by
euro 216,173 to euro 3,538,258,units and are now 51% of total
assets compared with 55% in the previous period |
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Long Term Liabilities |
Long term liabilities are now 0% of total assets compared
with 6% in the previous period |
Previous Searches on this Company
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Last 3 Months |
Last 6 Months |
Last 12 Months |
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0 |
0 |
1 |
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RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)