MIRA
INFORM REPORT
|
Report Date : |
06.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
DROMONE ENGINEERING LIMITED |
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Registered Office : |
Dromone, Oldcastle, Co Meath |
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Country : |
Ireland |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
19.05.1978 |
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Com. Reg. No.: |
IE062756 |
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Legal Form : |
Private Limited Liability Company (IE) |
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Line of Business : |
Sheet Metal Work Manufacturers, Steel Fabrications
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RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Euro 703,100 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company Identification Details
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Subject Reported on |
DROMONE ENGINEERING LIMITED |
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Trading Address |
DROMONE,OLDCASTLE,KELLS, |
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Telephone |
044 939 666346 |
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There is a high degree of confidence this company will prove good for
the assigned Credit Limit |
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Credit Limit |
euro 703,100 |
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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 7,069,100 |
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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 |
IE062756 |
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Date of Incorporation |
19/05/1978 |
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Registered Office |
DROMONE, OLDCASTLE, CO MEATH |
|
Activities |
Sheet metal work manufacturers, steel fabrications
|
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 |
DROMONE , CO MEATH , |
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Date of Birth |
04/07/1950 |
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Appointment Date |
19/05/1978 |
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Other Appointments |
DROMONE ENGINEERING INVESTMENTS LIMITED, DROMONE
ENGINEERING LIMITED |
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DIRECTOR |
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Occupation |
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Address |
DROMONE , CO. MEATH , |
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Date of Birth |
01/07/1951 |
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Appointment Date |
19/05/1978 |
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Other Appointments |
BMC INVESTMENTS LIMITED, DROMONE ENGINEERING
INVESTMENTS LIMITED, DROMONE ENGINEERING LIMITED |
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DIRECTOR |
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Occupation |
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Address |
35 OAKLEIGH , CO MEATH , |
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Date of Birth |
15/05/1969 |
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Appointment Date |
07/11/2002 |
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Other Appointments |
DROMONE ENGINEERING LIMITED |
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SECRETARY |
SUSAN MCCORMICK |
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Address |
DROMONE, OLDCASTLE , CO MEATH |
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Country of Origin |
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Date of Birth |
04/07/1950 |
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Appointment Date |
19/05/1978 |
Recently Resigned Directors (last
3)
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DIRECTOR |
PATRICK CHRISTOPHER O'CONNOR |
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Address |
, 22 , FOXROCK , DUBLIN 18. , - - |
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Date of Birth |
12/01/1939 |
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Resignation Date |
07/11/2002 |
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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Susan McCormick |
ORD |
780,265 |
780,265.00 |
90.00 |
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Patrick McCormick |
ORD |
35 |
35.00 |
0.00 |
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William Egenton |
ORD |
86,700 |
86,700.00 |
10.00 |
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Mortgages and Charges
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|
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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 |
30/01/1984 |
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Date Created |
11/01/1984 |
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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 |
Sheet metal work manufacturers, steel fabrications
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Sic Code |
Description |
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Staff Employed |
94 |
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Bankers |
Bank Of Ireland |
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Sort Codes |
901685 |
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 |
|
SALES |
12,714,331 |
- |
- |
- |
|
Other operating income |
97,449 |
- |
21,055 |
- |
|
Cost of goods sold |
9,615,646 |
- |
- |
- |
|
GROSS PROFIT |
3,098,684 |
2,989,181 |
2,111,143 |
2,937,676 |
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Other Expenses |
201,198 |
878,473 |
770,638 |
740,752 |
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General administration costs (-) |
2,724,601 |
1,468,109 |
1,704,488 |
2,099,189 |
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Wages and Salaries |
3,202,246 |
2,931,360 |
2,883,505 |
2,863,239 |
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Depreciation |
359,931 |
381,573 |
444,780 |
485,809 |
|
Net Operating Profit(Loss) |
270,334 |
642,598 |
-342,928 |
97,734 |
|
Non Trading Income |
8,258 |
6,975 |
4,567 |
3,085 |
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Other financial income |
12,969 |
- |
- |
- |
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Total Non Trading Income |
21,227 |
6,975 |
4,567 |
3,085 |
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Interest expenses & similar (-) |
1,620 |
4,536 |
5,377 |
6,402 |
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Financial Expenses |
1,620 |
4,536 |
5,377 |
6,402 |
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PRE TAX PROFIT |
289,941 |
645,037 |
-343,738 |
94,418 |
|
Other Taxation |
-12,782 |
24,359 |
1,500 |
0 |
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Taxation |
64,923 |
6,944 |
0 |
16,057 |
|
PROFIT AFTER TAX |
237,800 |
613,734 |
-345,238 |
78,361 |
|
Net Profit |
237,800 |
613,734 |
- |
78,361 |
|
Dividends Payable |
0 |
0 |
0 |
0 |
|
RETAINED PROFITS |
237,800 |
613,734 |
- |
78,361 |
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 |
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TOTAL FIXED ASSETS |
2,432,833 |
2,623,575 |
2,885,533 |
3,192,103 |
|
Land & buildings |
1,822,061 |
1,848,161 |
1,846,806 |
1,888,173 |
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Plant, machinery & equipment |
610,772 |
775,414 |
1,038,727 |
1,303,930 |
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TOTAL CURRENT ASSETS |
7,541,665 |
6,060,593 |
5,422,149 |
5,174,420 |
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Stocks |
3,420,838 |
2,639,464 |
2,858,996 |
2,346,366 |
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Trade Debtors |
2,605,183 |
2,189,329 |
1,895,793 |
2,084,905 |
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Other Receivables |
626,882 |
570,928 |
457,137 |
- |
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Prepaid expenses |
236,499 |
110,011 |
74,215 |
43,282 |
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Cash |
542,177 |
550,861 |
135,459 |
684,953 |
|
own shares |
110,086 |
- |
- |
- |
|
TOTAL ASSETS |
9,974,499 |
8,684,168 |
8,307,682 |
8,366,523 |
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TOTAL CURRENT LIABILITIES |
2,760,219 |
1,909,932 |
2,172,893 |
1,852,279 |
|
Trade Creditors |
1,605,021 |
1,195,964 |
1,456,208 |
- |
|
Loans From Principals |
175,212 |
193,120 |
- |
- |
|
Taxes |
215,105 |
149,514 |
124,290 |
112,824 |
|
Hire Purchase |
54,523 |
- |
18,776 |
54,484 |
|
Accruals & deferred income |
710,358 |
359,037 |
451,127 |
567,497 |
|
WORKING CAPITAL |
4,781,446 |
4,150,661 |
3,249,256 |
3,322,141 |
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TOTAL LONG TERM LIABS |
145,154 |
62,933 |
192,814 |
227,031 |
|
Taxation |
50,297 |
62,933 |
26,549 |
26,549 |
|
Total Hire Purchase / Leasing |
94,857 |
- |
- |
18,776 |
|
NET ASSETS/(LIABILITIES) |
7,214,280 |
6,774,235 |
6,134,789 |
6,514,244 |
|
SHARE CAPITAL + RESERVES |
7,069,125 |
6,711,302 |
5,941,976 |
6,287,214 |
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Issued Share Capital |
1,100,863 |
990,396 |
990,396 |
990,396 |
|
Reserves |
502,693 |
502,693 |
502,693 |
502,693 |
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Profit and Loss account |
5,300,421 |
5,062,621 |
4,448,887 |
4,794,125 |
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Investment grants |
165,148 |
155,592 |
- |
- |
|
SHAREHOLDERS FUNDS |
7,069,125 |
6,711,302 |
5,941,976 |
6,287,214 |
|
CAPITAL EMPLOYED |
7,214,279 |
6,774,235 |
6,134,790 |
6,514,245 |
|
TANGIBLE NET WORTH |
7,069,126 |
6,711,302 |
5,941,976 |
6,287,213 |
Key Credit Ratios
|
Accounts Date |
31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
|
Current Ratio |
2.73 |
3.17 |
2.50 |
2.79 |
|
Profit Before Tax |
0.02 |
- |
- |
- |
|
Creditors Days (D.P.O) |
60.92 |
- |
- |
- |
|
Quick Ratio |
1.49 |
1.79 |
1.18 |
1.53 |
|
Return on Assets |
2.91 |
7.43 |
-4.14 |
1.13 |
|
T.N.W/Total Assets |
0.71 |
0.77 |
0.72 |
0.75 |
|
Return on Capital |
4.02 |
9.52 |
-5.60 |
1.45 |
|
Working Capital/Sales |
0.00 |
- |
- |
- |
|
Equity Gearing |
1.41 |
1.07 |
0.31 |
0.30 |
|
Stock Turnover |
0.00 |
- |
- |
- |
|
Solvency (%) |
41.10 |
29.40 |
39.81 |
33.07 |
Financial Summary
|
Operating
Profit |
Totalled euro 270,334,units In the period prior a
profit of euro 642,598,units was achieved. |
|
Pre
Tax |
The subject made a profit of euro 289,941,units
compared with a profit of euro 645,037,units in the previous period. |
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Working
Capital |
The company's working capital improved in the period by
15% |
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Tangible
Net Worth |
Net worth increased by 357,824 during the period and now
stands at euro 7,069,126,units |
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Fixed
Assets |
The subjects fixed assets reduced during the period by
euro 190,742 to euro 2,432,833,units and are now 24% of total
assets compared with 30% in the previous period |
|
Long
Term Liabilities |
The company's long term liabilities increased during the
period by 131% and are now 2% of net worth compared with 1% in the previous
period |
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Long
Term Liabilities |
Long term liabilities are now 1% of total assets compared
with 1% 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 |
1 |
1 |
RATING
EXPLANATIONS
|
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 |
|
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%)