MIRA INFORM REPORT

Report Date :

22.10.2008

IDENTIFICATION DETAILS

Name :	WILLOWS INGREDIENTS LIMITED

Registered Office :	Hynes & Co, Tuskar House, Johns Gate Street Centre, Johns Gate Street

Country :	Ireland

Financials (as on) :	31.12.2007

Date of Incorporation :	19.04.2007

Legal Form :	Private Limited with Share Capital

Line of Business :	Manufacture of Other Food Products

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 :	New Company

Payment Behaviour :	Unknown

Litigation :	Clear

Name of the company

WILLOWS INGREDIENTS LIMITED

Number IE438299

company summary

		Type	Private limited with Share Capital
Address	HYNES & CO, TUSKAR HOUSE, JOHNS GATE STREET CENTRE, JOHNS GATE STREET	Company Status	Active - Accounts Filed
Town Code	999935	Incorporated Date	19/04/2007

	Active CCJ's	0
	Value of CCJ's [?]	€0

	Current Directors	3
	Total Directorships	3

	Trading to Date	31/12/07
	Turnover	-
	Shareholder Funds	€1,578
	Employees	-

	Trends
	Profitability
	Liquidity
	Shareholders Funds		-

Secondary Industry Code Details

	SIC Code	Description
	1589	Manufacture Of Other Food Products N.e.c.

Mortgage Details

Mortgage Type:	A floating charge on the undertakings or property of the company.
Date Charge Created:	06/07/2007	Date Charge Registered:	27/07/2007
Date Charge Satisfied:		Status:	NOT SATISFIED
Person(s) Entitled:	BIBBY TRADE SERVICES LINITED
Amount Secured:
Details:

Mortgage Type:	A charge on book debts of the company.
Date Charge Created:	02/05/2007	Date Charge Registered:	09/05/2007
Date Charge Satisfied:		Status:	NOT SATISFIED
Person(s) Entitled:	CELTIC INVOICE DISCOUNTING LIMITED
Amount Secured:
Details:

Shareholders Details

	Name	Shares
	Ms Carmelia Scrivens	50 Ordinary Eur 1.00
	David Scrivens	50 Ordinary Eur 1.00

Trading Address Details

	Address	Telephone Number	TCPS
	HYNES & CO TUSKAR HOUSE JOHNS GATE STREET CENTRE JOHNS GATE STREET 999935

accounts

PROFIT & LOSS

	Annual Accounts	04/07-12/07
	Months	9
	Currency	EUR
	Consolidated A/cs	N
	Turnover	-
	Export	-
	Cost of Sales	-
	Gross Profit	-
	Wages & Salaries	-
	Directors Emoluments	-
	Operating Profits	-
	Depreciation	-
	Audit Fees	-
	Interest Payments	-
	Pre Tax Profit	-
	Taxation	-
	Profit After Tax	-
	Dividends Payable	-
	Retained Profits	-

BALANCE SHEET

	Annual Accounts	04/07-12/07
	Tangible Assets	884
	Intangible Assets	-
	Total Fix Assets	884
	Total Current Assets	149,780
	Trade Debtors	80,426
	Stock	56,534
	Cash	12,820
	Other Current Assets	-
	Increase In Cash	12,820
	Miscellaneous Current Assets	-
	Total Assets	150,664
	Total Current Liabilities	149,086
	Trade Creditors	125,278
	Bank Overdraft	23,414
	Other Short Term Fin	-
	Miscellaneous Current Liabilities	394
	Other Long Term Fin	-
	Total Long Term Liabilities	-
	Bank Overdraft & LTL	23,414
	Total Liabilities	149,086
	Net Assets	1,578
	Working Capital	694

CAPITALS & RESERVES

	Annual Accounts	04/07-12/07
	Paid up equity	-
	P&L Account Reserve	1,578
	Sundry Reserves	-
	Revaluation Reserve	-
	Shareholder Funds	1,578
	Net Worth	1,578

MISCELLANEOUS

	Annual Accounts	04/07-12/07
	Net Cashflow from Operations	-
	Net Cashflow before Financing	-
	Net Cashflow from Financing	-
	Contingent Liability	NO
	Capital Employed	1,578
	No of Employees	-

	Auditors
	AuditQualification	No Adverse Comments
	Bankers
	BankBranchCode

RATIOS

	Annual Accounts	04/07-12/07
	Pre-tax profit margin %	-
	Current ratio	1.00
	Sales/Net Working Capital	-
	Gearing %	1,483.8 %
	Equity in %	1.0 %
	Creditor Days	-
	Debtor Days	-
	Liquidity/Acid Test	0.63
	Return On Capital Employed %	-
	Return On Total Assets Employed %	-
	Current Debt Ratio %	94.5 %
	Total Debt Ratio %	94.5 %
	Stock Turnover Ratio %	-
	Return on Net Assets Employed %	-

group structure

No group structure for this company.

Event History

Date	Description
05/06/2008	Annual Returns
05/06/2008	New Accounts Filed
31/03/2008	New Company Secretary (david Scrivens) Appointed

directors

Name	CARMELIA SCRIVENS
Address	THE WILLOWS
	KILLOWEN
	GOREY
	COUNTY WEXFORD
Officers Title		Date Of Birth	22/08/1950
Honours		Present Appointments	1
Appointment Date	19/04/2007	Function	Director

Name	DAVID SCRIVENS
Address	THE WILLOWS
	KILLOWEN
	GOREY
	CO. WEXFORD
Officers Title		Date Of Birth	02/08/1961
Honours		Present Appointments	2
Appointment Date	19/04/2007	Function	Company Secretary

Name	DAVID SCRIVENS
Address	THE WILLOWS
	KILLOWEN
	GOREY
	CO. WEXFORD
Officers Title		Date Of Birth	02/08/1961
Honours		Present Appointments	2
Appointment Date	19/04/2007	Function	Director

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.79
UK Pound	1	Rs.81.27
Euro	1	Rs.63.91

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

Web Address		Incorporation Date	19/04/2007
Type of Accounts	Small Company	Filing Date of Accounts
Company Type	Private Limited With Share Capital	Date of Latest Accounts	31/12/2007
Annual Return	22/05/2008

	Registered Address

	NDD	N
	Address
	HYNES & CO TUSKAR HOUSE JOHNS GATE STREET CENTRE JOHNS GATE STREET

	Industry:

Mortgage Charges
Outstanding	2	Satisfied	0