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MIRA
INFORM REPORT
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Report Date : |
06.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
BURNSIDE HYDRACYL (BALLYMOON) LIMITED |
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Registered Office : |
Ballymoon, Bagenalstown, Co Carlow |
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Country : |
Ireland |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
28.11.1997 |
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Com. Reg. No.: |
IE276315 |
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Legal Form : |
Private Limited Liability Company (IE) |
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Line of Business : |
General Crop Farms. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Euro 549,800 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
BURNSIDE HYDRACYL (BALLYMOON) LIMITED |
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Trading Address |
BALLYMOON,BAGENALSTOWN, |
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Telephone |
059 9721 1364 |
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There is every confidence this company will prove good for the
assigned Credit Limit |
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Credit Limit |
euro 549,800 |
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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 5,665,200 |
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Buying from this company? The Contract Limit is the recommended
aggregate annual value for supply contracts. |
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Official Company Data
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Legal Form |
Private Limited Liability Company (IE) |
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Registration Number |
IE276315 |
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Date of Incorporation |
28/11/1997 |
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Registered Office |
BALLYMOON, BAGENALSTOWN, CO CARLOW |
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Activities |
Subject is registered to operate as general crop farms. |
Recently Filed Documents
Details of the
most recent documents
|
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 |
BALLYWILLIAMROE , CO. CARLOW. , |
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Date of Birth |
01/10/1943 |
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Appointment Date |
28/11/1997 |
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Other Appointments |
BURNSIDE HYDRACYL (BALLYMOON) LIMITED |
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DIRECTOR |
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Occupation |
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Address |
BALLYWILLIAMROE , CO CARLOW , |
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Date of Birth |
03/07/1969 |
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Appointment Date |
28/11/1997 |
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Other Appointments |
BURNSIDE HYDRACYL (BALLYMOON) LIMITED |
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DIRECTOR |
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Occupation |
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Address |
CRANNAIRD , FENAGH , CO CARLOW , |
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Date of Birth |
03/09/1967 |
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Appointment Date |
28/11/1997 |
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Other Appointments |
BURNSIDE HYDRACYL (BALLYMOON) LIMITED |
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SECRETARY |
ELIZABETH MULLINS |
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Address |
BALLYWILLIAMROE, , BAGENALSTOWN , CO CARLOW |
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Country of Origin |
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Date of Birth |
08/04/1975 |
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Appointment Date |
28/11/1997 |
Recently Resigned Directors (last
3)
None
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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Enterprise Ireland |
|
200,000 |
158,000.00 |
0.00 |
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Enterprise Ireland |
|
300,000 |
237,000.00 |
0.00 |
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Forfus |
|
157,513 |
157,513.00 |
0.00 |
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James Byrne |
ORD |
1,863,097 |
1,304,167.90 |
100.00 |
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James Byrne |
|
100,000 |
100,000.00 |
100.00 |
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Mortgages and Charges
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|
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Total Registered |
2 |
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Total Outstanding |
2 |
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Total Satisfied |
0 |
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Date Registered |
03/03/2000 |
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Satisfied? |
No |
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Date Registered |
22/06/1998 |
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Date Created |
08/06/1998 |
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Satisfied? |
No |
Public Record Information
Summary of
CCJ's/Scottish Decrees
There are no unsatisfied CCJs against the company.
Operations
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Activities |
Subject is registred to operate as general crop farms. |
|
Sic Code |
Description |
|
0111 |
Growing of cereals and other crops not elsewhere classified |
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Staff Employed |
145 |
|
Bankers |
Allied Irish Banks PLC |
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Sort Codes |
933325 |
Financial Data
Profit and Loss
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Currency |
euro |
euro |
euro |
euro |
|
Units |
units |
units |
units |
units |
|
Consolidated? |
No |
No |
No |
No |
|
Other operating income |
14,541 |
11,511 |
- |
- |
|
GROSS PROFIT |
1,807,683 |
1,824,669 |
1,297,361 |
- |
|
Other Expenses |
475,762 |
589,202 |
418,940 |
- |
|
General administration costs (-) |
1,281,887 |
1,076,761 |
1,032,670 |
- |
|
Wages and Salaries |
4,577,702 |
4,212,213 |
3,650,534 |
- |
|
Depreciation |
577,994 |
583,257 |
598,939 |
- |
|
Net Operating Profit(Loss) |
64,575 |
170,219 |
-154,249 |
- |
|
Non Trading Income |
396 |
1,609 |
- |
- |
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Total Non Trading Income |
396 |
1,609 |
22,853 |
- |
|
Financial Expenses |
0 |
0 |
37,245 |
- |
|
PRE TAX PROFIT |
64,971 |
171,827 |
-168,642 |
- |
|
Other Taxation |
0 |
0 |
0 |
- |
|
Taxation |
12,916 |
2,203 |
1,714 |
- |
|
PROFIT AFTER TAX |
52,055 |
169,624 |
-170,356 |
- |
|
Net Profit |
52,055 |
169,624 |
- |
- |
|
Dividends Payable |
21,588 |
22,027 |
14,669 |
8,980 |
|
RETAINED PROFITS |
30,467 |
147,597 |
- |
- |
Balance Sheet
|
Number of Weeks |
52 |
52 |
52 |
52 |
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Currency |
euro |
euro |
euro |
euro |
|
Units |
units |
units |
units |
units |
|
Consolidated? |
No |
No |
No |
No |
|
TOTAL FIXED ASSETS |
2,775,787 |
2,922,847 |
2,701,300 |
2,670,632 |
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Total Fixed Assets |
2,762,527 |
- |
- |
- |
|
Intermediate Assets |
13,260 |
13,260 |
13,260 |
13,260 |
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TOTAL CURRENT ASSETS |
5,802,643 |
6,233,617 |
4,912,093 |
4,030,989 |
|
Stocks |
2,516,670 |
2,201,245 |
1,835,312 |
1,343,996 |
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Trade Debtors |
3,153,236 |
3,789,248 |
2,896,711 |
2,294,635 |
|
Other Receivables |
20,586 |
12,501 |
33,889 |
64,280 |
|
Prepaid expenses |
5,718 |
32,726 |
15,404 |
13,991 |
|
Group Loans |
5,001 |
15,902 |
15,902 |
- |
|
Cash |
1,863 |
314 |
403 |
282,357 |
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Tax Recoverable |
99,569 |
122,685 |
54,472 |
31,729 |
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TOTAL ASSETS |
8,578,430 |
9,156,463 |
7,613,394 |
6,701,622 |
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TOTAL CURRENT LIABILITIES |
2,746,789 |
3,227,437 |
2,166,172 |
1,547,285 |
|
Trade Creditors |
1,862,574 |
2,010,954 |
1,581,494 |
1,017,326 |
|
Bank Overdraft |
347,325 |
659,852 |
107,094 |
133,411 |
|
Loans From Principals |
91 |
- |
- |
- |
|
Taxes |
11,200 |
- |
- |
8,564 |
|
Other Current Liabilities |
74,767 |
67,410 |
- |
70,542 |
|
Proposed Dividend |
17,280 |
32,739 |
10,712 |
3,089 |
|
Hire Purchase |
245,732 |
166,472 |
115,401 |
94,025 |
|
Accruals & deferred income |
187,818 |
290,009 |
279,372 |
220,327 |
|
WORKING CAPITAL |
3,055,855 |
3,006,180 |
2,745,922 |
2,483,704 |
|
TOTAL LONG TERM LIABS |
732,947 |
822,044 |
593,336 |
615,425 |
|
Mortgages and loans |
395,480 |
400,742 |
176,304 |
237,611 |
|
Total Hire Purchase / Leasing |
337,467 |
421,302 |
307,677 |
264,603 |
|
NET ASSETS/(LIABILITIES) |
5,831,642 |
5,929,027 |
5,447,222 |
5,154,337 |
|
SHARE CAPITAL + RESERVES |
5,098,695 |
5,106,984 |
4,853,887 |
4,538,912 |
|
Issued Share Capital |
3,192,619 |
3,227,521 |
3,227,521 |
2,727,521 |
|
Reserves |
156,163 |
121,260 |
121,260 |
121,260 |
|
Profit and Loss account |
1,648,269 |
1,652,703 |
1,505,106 |
1,690,131 |
|
Investment grants |
101,644 |
105,500 |
- |
- |
|
SHAREHOLDERS FUNDS |
5,098,695 |
5,106,984 |
4,853,887 |
4,538,912 |
|
CAPITAL EMPLOYED |
5,831,642 |
5,929,028 |
5,447,223 |
5,154,337 |
|
TANGIBLE NET WORTH |
5,098,694 |
5,094,215 |
4,853,886 |
4,538,911 |
Key
Credit Ratios
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Current Ratio |
2.11 |
1.93 |
2.27 |
2.61 |
|
Quick Ratio |
1.20 |
1.25 |
1.42 |
1.74 |
|
Return on Assets |
0.76 |
1.88 |
-2.22 |
- |
|
T.N.W/Total Assets |
0.59 |
0.56 |
0.64 |
0.68 |
|
Return on Capital |
1.11 |
2.90 |
-3.10 |
- |
|
Equity Gearing |
- |
- |
0.44 |
0.40 |
|
Solvency (%) |
68.25 |
79.49 |
56.85 |
47.65 |
Financial Summary
|
Operating Profit |
Totalled euro 64,575,units In the period prior a profit of euro
170,219,units was achieved. |
|
Pre Tax |
The subject made a profit of euro 64,971,units compared with a
profit of euro 171,827,units in the previous period. |
|
Working Capital |
The company's working capital improved in the period by 2% |
|
Tangible Net
Worth |
Net worth increased by 4,479 during the period and now stands at euro
5,098,694,units |
|
Fixed Assets |
The subjects fixed assets reduced during the period by euro
134,292 to euro 2,762,527,units and are now 32% of total assets
compared with 32% in the previous period |
|
Long Term
Liabilities |
The company's long term liabilities reduced during the period by 11%
and are now 14% of net worth compared with 16% in the previous period |
|
Long Term
Liabilities |
Long term liabilities are now 9% of total assets compared with 9% 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 |
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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%)