MIRA INFORM REPORT

 

 

 

Report Date :

10.09.2008

 

IDENTIFICATION DETAILS

 

Name :

LA ROUSSE FOODS LIMITED

 

 

Formerly Known as :

BROADSPEAR LIMITED

 

 

Registered Office :

31 Park West, Nangor Road, Dublin 12

 

 

Country :

Ireland

 

 

Financials (as on) :

31.10.2006

 

 

Date of Incorporation :

06.10.1995

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

The Wholesale Supply of Foodstuff.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

 [€]124,000

 

 

Status :

Good

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

Name of the company

 

LA ROUSSE FOODS LIMITED

 

Number                        IE239201

 

 

company summary

 

 

 

 

Type

Private limited with Share Capital

 

 

Address

31 PARK WEST,
NANGOR ROAD,
DUBLIN 12,
DUBLIN 12.

Company Status

Active - Accounts Filed

 

 

Town Code

 

Incorporated Date

06/10/1995

 

 

 

Todays Limit [€]

 124,000

 

 

 

 

 

 

Active CCJ's

0

 

 

 

Value of CCJ's [€]

€0

 

 

 

 

 

 

 

 

 

 

 

Current Directors

3

 

 

Total Directorships

7

 

 

   Trading to Date                                   31/10/06                     31/10/05                     31/10/04

   Turnover                                             -                                 -                                 -

   Shareholder Funds                              €3,303,896                  €2,543,544                  €1,933,742

   Employees                                         -                                 60                              -

 

 

 


 

 

company information

 

 

Registered Address

 

 

 

 

 

 

 

NDD

N

 

 

 

Address

 

 

31 PARK WEST
NANGOR ROAD
DUBLIN 12
DUBLIN 12.

 

 

 

 

 

Web Address

 

Incorporation Date

06/10/1995

 

Type of Accounts

Medium Company

Filing Date of Accounts

 

 

Company Type

Private Limited With Share Capital

Date of Latest Accounts

31/10/2007

 

Annual Return

31/07/2008

 

 

 

 

 

 

Previous Name(s)

 

Changed:

 

Broadspear Limited

 

 

 

 

 

 

 

 

Industry:

 

The Wholesale Supply Of Foodstuff.

 

 

 

 

 

 

 

 

SIC Code

Description

 

7484

Other Business Activities N.e.c.

 

 

 

 

 

 

 

Mortgage Charges

 

Outstanding

3

Satisfied

0

 

 

 

 

 

 

 

Shareholders

 

Share Capital

126.97

Currency

Eur

 

 

 

 

 

 

Previous Names Details

 

 

 

 

Previous Name(s)

 

Changed :

 

Broadspear Limited

 

 

 

 

Secondary Industry Code Details

 

 

 

 

SIC Code

Description

 

7484

Other Business Activities N.e.c.

 

 

 

 

 

Mortgage Details

 

 

 

 

Mortgage Type:

A charge on book debts of the company.

 

Date Charge Created:

27/05/2002

Date Charge Registered:

13/06/2002

 

Date Charge Satisfied:

 

Status:

NOT SATISFIED

 

Person(s) Entitled:

AIB COMMERCIAL SERVICES LIMITED

 

Amount Secured:

 

 

Details:

 

 

 

 

 

Mortgage Type:

MORTGAGE/CHARGE.

 

Date Charge Created:

28/02/2001

Date Charge Registered:

03/02/2001

 

Date Charge Satisfied:

 

Status:

NOT SATISFIED

 

Person(s) Entitled:

AIB BANK PLC

 

Amount Secured:

ALL SUMS DUE OR TO BECOME DUE FROM THE COMPANY TO THE PERSON(S) ENTITLED

 

Details:

 

 

 

 

 

Mortgage Type:

DEED OF CHARGE.

 

Date Charge Created:

06/01/1999

Date Charge Registered:

06/08/1999

 

Date Charge Satisfied:

 

Status:

NOT SATISFIED

 

Person(s) Entitled:

THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND

 

Amount Secured:

ALL SUMS NOW DUE OR HEREAFTER TO BECOME DUE FROM THE COMPANY TO THE PERSON(S) ENTITLED

 

Details:

 

 

 

 

 

 

Shareholders Details

 

 

 

 

Name

Shares

 

Ms Mary Massy

50 Ordinary Eur 1.26974

 

Marc Amand

50 Ordinary Eur 1.26974

 

 

 

 

 

 

 

Trading Address Details

 

 

 

Address

Telephone Number

TCPS

 

31 PARK WEST NANGOR ROAD DUBLIN 12 DUBLIN 12

 

 

 

   accounts

 

PROFIT & LOSS

 

Annual Accounts

11/05-10/06

Change (%)

11/04-10/05

Change (%)

11/03-10/04

 

Months

12

-

12

-

12

 

Currency

EUR

-

EUR

-

EUR

 

Consolidated A/cs

N

-

N

-

N

 

Turnover

-

-

-

-

-

 

Export

-

-

-

-

-

 

Cost of Sales

-

-

-

-

-

 

Gross Profit

6,282,915

16.5 %

5,394,537

52.3 %

3,541,799

 

Wages & Salaries

-

-

-

-

-

 

Directors Emoluments

330,000

-

-

-

-

 

Operating Profits

982,755

25.5 %

783,236

136.2 %

331,661

 

Depreciation

491,992

-

-

-100.0 %

117,505

 

Audit Fees

17,310

-

-

-

-

 

Interest Payments

97,371

27.2 %

76,577

-29.8 %

109,098

 

Pre Tax Profit

889,313

25.8 %

706,659

128.3 %

309,545

 

Taxation

-128,961

-33.1 %

-96,857

-164.3 %

-36,641

 

Profit After Tax

760,352

24.7 %

609,802

123.4 %

272,904

 

Dividends Payable

-

-

-

-

-

 

Retained Profits

760,352

24.7 %

609,802

123.4 %

272,904

 

BALANCE SHEET

 

Annual Accounts

11/05-10/06

Change (%)

11/04-10/05

Change (%)

11/03-10/04

 

Tangible Assets

2,487,121

24.9 %

1,992,044

-1.8 %

2,028,339

 

Intangible Assets

-

-

-

-

-

 

Total Fix Assets

2,487,121

24.9 %

1,992,044

-1.8 %

2,028,339

 

Total Current Assets

5,009,666

20.3 %

4,163,328

18.2 %

3,521,567

 

Trade Debtors

3,511,878

23.8 %

2,836,599

16.0 %

2,445,273

 

Stock

524,053

-2.4 %

536,980

25.6 %

427,577

 

Cash

556,301

48.3 %

375,004

330.1 %

87,182

 

Other Current Assets

417,434

0.6 %

414,745

-26.1 %

561,535

 

Increase In Cash

181,297

-37.0 %

287,822

230.1 %

87,182

 

Miscellaneous Current Assets

-

-

-

-

-

 

Total Assets

7,496,787

21.8 %

6,155,372

10.9 %

5,549,906

 

Total Current Liabilities

3,506,345

12.9 %

3,105,536

5.2 %

2,951,503

 

Trade Creditors

2,294,501

13.9 %

2,014,239

40.1 %

1,437,515

 

Bank Overdraft

665,814

15.7 %

575,358

-47.2 %

1,089,694

 

Other Short Term Fin

366,484

46.1 %

250,859

-0.9 %

253,067

 

Miscellaneous Current Liabilities

179,546

-32.3 %

265,080

54.8 %

171,227

 

Other Long Term Fin

477,209

-5.7 %

506,292

-23.8 %

664,661

 

Total Long Term Liabilities

686,546

35.6 %

506,292

-23.8 %

664,661

 

Bank Overdraft & LTL

1,352,360

25.0 %

1,081,650

-38.3 %

1,754,355

 

Total Liabilities

4,192,891

16.1 %

3,611,828

-0.1 %

3,616,164

 

Net Assets

3,303,896

29.9 %

2,543,544

31.5 %

1,933,742

 

Working Capital

1,503,321

42.1 %

1,057,792

85.6 %

570,064

 

CAPITALS & RESERVES

 

Annual Accounts

11/05-10/06

Change (%)

11/04-10/05

Change (%)

11/03-10/04

 

Paid up equity

127

-

127

-

127

 

P&L Account Reserve

3,303,769

29.9 %

2,543,417

31.5 %

1,933,615

 

Sundry Reserves

-

-

-

-

-

 

Revaluation Reserve

-

-

-

-

-

 

Shareholder Funds

3,303,896

29.9 %

2,543,544

31.5 %

1,933,742

 

Net Worth

3,303,896

29.9 %

2,543,544

31.5 %

1,933,742

 

MISCELLANEOUS

 

Annual Accounts

11/05-10/06

Change (%)

11/04-10/05

Change (%)

11/03-10/04

 

Net Cashflow from Operations

1,620,420

-

-

-

-

 

Net Cashflow before Financing

375,672

-

-

-

-

 

Net Cashflow from Financing

-

-

-

-

-

 

Contingent Liability

NO

-

-

-

-

 

Capital Employed

3,990,442

56.9 %

2,543,544

31.5 %

1,933,742

 

 

NO OF EMPLOYEES

-

-

60

-

-

     

Auditors

SINNOTT HUGHES & CO

 

AuditQualification

No Adverse Comments

 

Bankers

ALLIED IRISH BANK

 

BankBranchCode

 

 

RATIOS

 

Annual Accounts

11/05-10/06

11/04-10/05

11/03-10/04

 

Pre-tax profit margin %

-

-

-

 

Current ratio

1.43

1.34

1.19

 

Sales/Net Working Capital

-

0.00

0.00

 

Gearing %

40.9 %

42.5 %

90.7 %

 

Equity in %

44.1 %

41.3 %

34.8 %

 

Creditor Days

-

-

-

 

Debtor Days

-

-

-

 

Liquidity/Acid Test

1.28

1.17

1.05

 

Return On Capital Employed %

22.3 %

27.8 %

16.0 %

 

Return On Total Assets Employed %

11.9 %

11.5 %

5.6 %

 

Current Debt Ratio %

1.1 %

1.2 %

1.5 %

 

Total Debt Ratio %

1.3 %

1.4 %

1.9 %

 

Stock Turnover Ratio %

-

-

-

 

Return on Net Assets Employed %

26.9 %

27.8 %

16.0 %

 

 

Credit Limit Explanation

 

 

The Recommended Credit Limit is calculated using a formula that analyses information from a company's financial accounts and payment record.
The advised amount can be defined as the maximum amount that could be advanced in any one calendar month, assuming standard payment terms of 30 days beyond the month of invoice. Therefore the same maximum amount could be advanced in the next calendar month.

 

 

 

 

Date

Description

 

17/10/2007

Very Good Credit Worthiness

 

02/10/2007

Financial Statements too old

 

31/08/2007

Very Good Credit Worthiness

 

 

ccj's

 

 

Active CCJ's

0

 

 

 

Value of CCJ's [€]

€0

 

 

 

 

 

 

 

 

 

group structure

 

 

Ultimate Parent Company

LA ROUSSE FOODS LIMITED

 

Companies in Group

2

 

 

 

 

Company Name

Registered Number

Latest Annual Accounts

 

LA ROUSSE FOODS LIMITED<<<

IE239201

31/10/2006

 

 LA ROUSSE FOODS (N.I.) LIMITED

NI032830

31/10/2007

 

 

 

Event History

 

 

Date

Description

17/10/2007

New Accounts Filed

03/10/2007

Annual Returns

 

 

 

 

 

directors

 

 

 

Name

MARY MASSY

 

 

Address

THE COPPINS

 

 

 

STRAFFAN

 

 

CO. KILDARE

 

Officers Title

 

Date Of Birth

10/12/1968

 

Honours

 

Present Appointments

2

 

Appointment Date

14/04/2003

Function

Company Secretary

 

 

 

 

 

 

 

 

 

Name

MARY MASSEY

 

 

Address

THE COPPINS

 

 

 

STRAFFAN

 

 

CO.KILDARE

 

Officers Title

 

Date Of Birth

10/12/1968

 

Honours

 

Present Appointments

2

 

Appointment Date

11/10/1995

Function

Director

 

 

 

 

 

 

 

 

 

Name

MARC AMAND

 

 

Address

THE CHOPPINS

 

 

 

STRAFFAN

 

 

CO.KILDARE

 

Officers Title

 

Date Of Birth

20/12/1965

 

Honours

 

Present Appointments

3

 

Appointment Date

11/10/1995

Function

Director

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.77

UK Pound

1

Rs.80.67

Euro

1

Rs.64.20

 

 

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