MIRA INFORM REPORT

Report Date :

07.08.2010

IDENTIFICATION DETAILS

Name :	IRISH AGGREGATES (MUNSTER) LIMITED

Registered Office :	Classis Ovens, County Cork, , County Cork. 53214

Country :	Ireland

Financials (as on) :	30.04.2009

Date of Incorporation :	05.05.1988

Com. Reg. No.:	IE131611

Legal Form :	Private Limited By Shares

Line of Business :	Sale of building materials.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	(€) 80,000
Status :	Good
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – April 1, 2010

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

Ireland

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company Summary

Company Summary
Company Name	IRISH AGGREGATES (MUNSTER) LIMITED
Company Number	IE131611
Telephone Number
Address	CLASSIS OVENS, COUNTY CORK, , COUNTY CORK.
Town Code	53214
Company Type	PRIVATE LIMITED BY SHARES
Incorporation Date	05/05/1988

Company Status Summary
Limit (€)	80,000
Active CCJ's	0
Value of CCJ's (€)	0
Writs	0

Director Summary
Directorships	4
Total Directorships	6

Financial Information
Date	30/04/2009	%	30/04/2008	%	30/04/2007
Currency	NaN		NaN		NaN
Turnover	0	-	0	-	0
Shareholder Equity	4,591,966	0.0%	4,592,410	17.6%	3,905,673
Number of employees	37	-	46	-	50

Accounts & Ratios

Period
Date From	01/05/2008	%	02/05/2007	%	01/05/2006
Date To	30/04/2009	-	30/04/2008	-	30/04/2007
Period of Month	12	-	12	-	12
Currency	EUR	-	EUR	-	EUR
Profit & Loss
Consolidated Accounts	N	-	N	-	N
Turnover	0	-	0	-	0
Export	-	-	-	-	-
Cost of Sales	-	-	-	-	-
Gross Profit	301,046	-93.4%	4,542,827	-8.7%	4,974,498
Operating Profit	107,160	-85.2%	724,525	-10.3%	808,140
Pre-Tax Profit	13,403	-98.3%	781,641	30.1%	600,955
Tax	-6,300	93.4%	-94,904	-22.5%	-77,471
Post-Tax Profit	7,103	-99.0%	686,737	31.2%	523,484
Dividends	7,547	-	0	-	0
Retained Profit	-444	-100.1%	686,737	31.2%	523,484
Interest Payable	93,757	-38.2%	151,599	-29.8%	215,888
Directors Remuneration	88,162	-35.9%	137,500	-57.4%	322,715
Wages & Salaries	1,618,570	-16.2%	1,931,275	-2.0%	1,971,223
Depreciation of Tangibles	303,061	-5.5%	320,820	-16.2%	382,852
Auditor Fees	16,775	20.1%	13,971	8.6%	12,870

Capitals & Reserves
Called up Share Capital	127	0.0%	127	0.0%	127
P&L Account Reserve	4,591,839	0.0%	4,592,283	17.6%	3,905,546
Sundry Reserves	0	-	0	-	0
Revaluation Reserve	0	-	0	-	0
Shareholder Funds	4,591,966	0.0%	4,592,410	17.6%	3,905,673
Net Worth	4,591,966	0.0%	4,592,410	17.6%	3,905,673

Miscellaneous
Net Cashflow from Operations	0	-	0	-	0
Net Cashflow before Financing	0	-	0	-	0
Net Cashflow from Financing	0	-	0	-	0
Capital Employed	5,742,068	-8.5%	6,275,293	-4.5%	6,574,166
No of Employees	37	-19.6%	46	-8.0%	50

Balance Sheet
Tangible Assets	4,432,060	-3.8%	4,606,263	-7.2%	4,964,417
Intangible Assets	0	-	0	-	0
Total Fixed Assets	4,432,060	-3.8%	4,606,263	-7.2%	4,964,417
Stocks & Work-in-Progress	964,712	-21.6%	1,231,177	-11.1%	1,384,969
Debtors
- Trade Debtors	1,184,337	-48.7%	2,306,762	-38.7%	3,764,564
Cash	293,974	-30.3%	421,791	37.1%	307,710
Misc. Current Assets	0	-	0	-	0
Total Current Assets
Creditors
- Trade Creditors	355,275	-44.1%	636,046	-62.7%	1,707,163
- Bank Overdraft	214,128	0.0%	214,128	-10.3%	238,801
Increase in Cash	-127,817	-212.0%	114,081	-	0
Total Current Liabilities	1,296,296	-47.3%	2,459,343	-38.6%	4,008,669
Other Short Term Loans	516,932	-51.8%	1,072,767	-25.6%	1,441,303
Miscellaneous Current Liabilities	209,961	-60.9%	536,402	-13.7%	621,402
Other Long Term Finance	0	-	0	-100.0%	82,670
Total Long Term Liabilities	1,150,102	-31.7%	1,682,883	-36.9%	2,668,493
Overdraft Long Term Liabilites	1,364,230	-28.1%	1,897,011	-34.7%	2,907,294
Liabilities	2,446,398	-40.9%	4,142,226	-38.0%	6,677,162
Net Assets	4,591,966	0.0%	4,592,410	17.6%	3,905,673
Working Captial	1,310,008	-21.5%	1,669,030	3.7%	1,609,749
Current Assets	2,606,304	-36.9%	4,128,373	-26.5%	5,618,418
Other Current Assets	163,281	-3.2%	168,643	4.6%	161,175

Ratios
Date To	30/04/2009	%	30/04/2008	%	30/04/2007
Trading Performance
Pre-Tax Profit Margin	0.0%	-	0.0%	-	0.0%
Return on Capital Employed	0.2 %	-	12.5 %	-	9.1 %
Return on Total Assets Employed	0.2 %	-	8.9 %	-	5.7 %
Return on Net Assets Employed	0.3 %	-	17.0 %	-	15.4 %
Sales/Net Working Capital	0.00	-	0.00	-	0.00
Operating Efficiency
Stock Turnover Ratio	0.0%	-	0.0%	-	0.0%
Debtor Days	0.00	-	0.00	-	0.00
Creditor Days	0.00	-	0.00	-	0.00
Short Term Stability
Current Ratio	2.01	-	1.68	-	1.40
Liquidity Ratio/Acid Ratio	1.26	-	1.17	-	1.05
Current Debt Ratio	0.3 %	-	0.5 %	-	1.0 %
Long Term Stability
Gearing	29.7 %	-	41.3 %	-	74.4 %
Equity in Percentage	65.2 %	-	52.6 %	-	36.9 %
Total Debt Ratio	0.5 %	-	0.9 %	-	1.7 %

CCJ Summary

CCJ Summary
CCJ's Amount	0
CCJ's Value (€)	0
Writs	0

Record of Payments

No record of payments for company.

Group Structure

Ultimate Parent Company Name
Parent Company Name	KILWAUGHTER CHEMICAL COMPANY LIMITED
Number of company in Group	2
Company Name	Company Number	Accounts Date
KILWAUGHTER CHEMICAL COMPANY LIMITED	NI001351	30/04/2009
IRISH AGGREGATES (MUNSTER) LIMITED	IE131611	30/04/2009

Company History

Event History
Date	Description
01/12/2009	Annual Returns
30/11/2009	New Accounts Filed
23/03/2009	THOMAS HICKEY has left the board
30/11/2008	Annual Returns
28/11/2008	New Accounts Filed
28/11/2008	New Accounts Filed
21/11/2008	New Board Member (PAUD LEHANE) appointed
09/01/2008	Annual Returns
04/01/2008	New Accounts Filed

Status History
No status history for this company.

Directors

Director
Directors Title
Name of Director	SIMON M CDOWELL
Address of Director
Postcode of Director
Date of Birth	18/06/1968
Nationality of Director
Director Honours
Present Appointments	2
Function	Director
Appointment Date	5/15/2007 12:00:00 AM

Director
Directors Title
Name of Director	CHRIS MC DOWELL
Address of Director
Postcode of Director
Date of Birth	08/12/1970
Nationality of Director
Director Honours
Present Appointments	1
Function	Director
Appointment Date	5/15/2007 12:00:00 AM

Director
Directors Title
Name of Director	PAUD LEHANE
Address of Director
Postcode of Director
Date of Birth	05/02/1977
Nationality of Director
Director Honours
Present Appointments	1
Function	Director
Appointment Date	11/21/2008 12:00:00 AM

Director
Directors Title
Name of Director	SIMON M CDOWELL
Address of Director
Postcode of Director
Date of Birth	18/06/1968
Nationality of Director
Director Honours
Present Appointments	2
Function	Company Secretary
Appointment Date	5/15/2007 12:00:00 AM

Image Accounts

Accounts Images

30-04-2009

30-04-2008

Returns Images

30-04-2009

30-04-2008

Other Images
29-07-2009	B10 CHANGE IN DIRS/SEC
20-11-2008	B10 CHANGE IN DIRS/SEC
20-03-2007	AMENDED MEMORANDUM AND ARTICLES.
20-03-2007	G1 SPECIAL RESOLUTION
20-03-2007	B7 NOTICE OF CONSOLIDAT, DIVISION, CONVERSION TO

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.46.02
UK Pound	1	Rs.73.21
Euro	1	Rs.60.70

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	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

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

Address Information
Company Name	IRISH AGGREGATES (MUNSTER) LIMITED
Company Number	IE131611
Registered Office Address	CLASSIS OVENSCOUNTY CORKCOUNTY CORK.
Registered Office Post Code	53214
Registered Telephone No.
TPS Registered	N
Trading Address
Trading Postal Code	53214
Trading Telephone Number
TPS Registered	N

Auditor/Banker's Information
Auditor Name	PRICEWATERHOUSECOOPERS
Auditor Qualification	No Adverse Comments
Banker Name	BANK OF IRELAND
Banker Sort Code

Other Information
Website Address
Incorporation Date	05/05/1988
Company Type	PRIVATE LIMITED BY SHARES
Type of Accounts	Medium Company
Date of Latest Accounts	30/04/2009
Filing Date of Accounts
Annual Return Date	21/11/2009

Mortgage Information
Mortgages(s) Outstanding	0
Mortgages(s) Satisfied	0

Mortgage Type
Date Charge Created
Date Charge Registered
Date Charge Satisfied
Status
Person(s) Entitled
Amount Secured
Details

Shareholders information
Shares Held	127
Currency of Share	EUR

Name of Shareholder	KILWAUGHTER CHEMICAL CO LIMITED
Nominal Value of each Share
Currency of Share	EUR

Industry Information
Industry Description	Sale of building materials.