MIRA INFORM REPORT
|
Report Date : |
02.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
GRANNING IRELAND LIMITED |
|
|
|
|
Registered Office : |
C/O P Carson, Naas Industrial Estate, Naas, Co Kildare |
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Country : |
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|
|
|
Financials (as on) : |
31.05.2010 |
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Date of Incorporation : |
06.04.2001 |
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|
|
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Com. Reg. No.: |
IE341501 |
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|
|
Legal Form : |
Private Limited By Shares |
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|
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Line of Business : |
distribution of motor vehicle parts and equipment |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
(€) 155,000 |
|
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
a2 |
a2 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Company
Summary
|
Company Summary |
|
|
Company Name |
GRANNING IRELAND LIMITED |
|
Company Number |
IE341501 |
|
Telephone Number |
045875996 |
|
Address |
C/O P |
|
Town Code |
|
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Company Type |
PRIVATE LIMITED BY SHARES |
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Incorporation Date |
06/04/2001 |
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Company Status Summary |
|
|
Company Status |
Active - Accounts Filed |
|
Limit (€) |
155,000 |
|
Active CCJ's |
0 |
|
Value of CCJ's (€) |
0 |
|
Writs |
0 |
|
Director Summary |
|
|
Directorships |
3 |
|
Total Directorships |
19 |
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Financial Information |
|||||
|
Date |
31/05/2010 |
% |
31/05/2009 |
% |
31/05/2008 |
|
Currency |
|
|
|
|
|
|
Turnover |
0 |
- |
0 |
- |
0 |
|
Shareholder Equity |
1,725,435 |
19.6% |
1,443,025 |
17.3% |
1,229,896 |
|
Number of employees |
0 |
- |
0 |
- |
14 |
Company
Information
|
Address Information |
|
|
Company Name |
GRANNING IRELAND LIMITED |
|
Company Number |
IE341501 |
|
Registered Office Address |
C/O P CARSONNAAS INDUSTRIAL ESTATENAASCO KILDARE |
|
Registered Office Post Code |
|
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Registered Telephone No. |
045875996 |
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TPS Registered |
Y |
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Trading Address |
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Trading Postal Code |
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Trading Telephone Number |
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TPS Registered |
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Auditor/Banker's Information |
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Auditor Name |
CREMIN MCCARTHY & CO |
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Auditor Qualification |
No Adverse Comments |
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Banker Name |
ULSTER BANK LTD |
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Banker Sort Code |
98-50-80 |
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Other Information |
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Website Address |
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Incorporation Date |
06/04/2001 |
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Company Type |
PRIVATE LIMITED BY SHARES |
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Type of Accounts |
Medium Company |
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Date of Latest Accounts |
31/05/2010 |
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Filing Date of Accounts |
|
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Annual Return Date |
17/02/2011 |
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Industry Information |
|
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Industry Description |
The distribution of motor vrhicle parts and equipment. |
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Mortgage Information |
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Mortgages(s) Outstanding |
0 |
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Mortgages(s) Satisfied |
0 |
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Mortgage Type |
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Date Charge Created |
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Date Charge Registered |
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Date Charge Satisfied |
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Status |
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Person(s) Entitled |
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Amount Secured |
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Details |
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Shareholders information |
|
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Shares Held |
10,000 |
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Currency of Share |
EUR |
|
|
|
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Name of Shareholder |
GRANNING UK LTD |
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Nominal Value of each Share |
|
|
Currency of Share |
EUR |
Accounts
& Ratios
|
Period |
|||||
|
Date From |
01/06/2009 |
% |
01/06/2008 |
% |
02/06/2007 |
|
Date To |
31/05/2010 |
- |
31/05/2009 |
- |
31/05/2008 |
|
Period of Month |
12 |
- |
12 |
- |
12 |
|
Currency |
EUR |
- |
EUR |
- |
EUR |
|
Profit & Loss |
|||||
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Consolidated Accounts |
N |
- |
N |
- |
N |
|
Turnover |
0 |
- |
0 |
- |
0 |
|
Export |
- |
- |
- |
- |
- |
|
Cost of Sales |
- |
- |
- |
- |
- |
|
Gross Profit |
1,545,244 |
37.6% |
1,122,872 |
-26.0% |
1,517,818 |
|
Operating Profit |
360,788 |
21.3% |
297,403 |
-36.9% |
471,185 |
|
Pre-Tax Profit |
329,411 |
33.7% |
246,365 |
-42.2% |
425,954 |
|
Tax |
-47,001 |
-41.4% |
-33,236 |
43.2% |
-58,495 |
|
Post-Tax Profit |
282,410 |
32.5% |
213,129 |
-42.0% |
367,459 |
|
Dividends |
0 |
- |
0 |
- |
0 |
|
Retained Profit |
282,410 |
32.5% |
213,129 |
-42.0% |
367,459 |
|
Interest Payable |
31,377 |
-38.5% |
51,038 |
12.8% |
45,231 |
|
Directors Remuneration |
- |
- |
- |
- |
125,499 |
|
Wages & Salaries |
- |
- |
- |
- |
687,856 |
|
Depreciation of Tangibles |
45,431 |
34.6% |
33,752 |
8.8% |
31,024 |
|
Auditor Fees |
23,697 |
163.3% |
9,000 |
11.8% |
8,051 |
|
Capitals & Reserves |
|||||
|
Called up Share Capital |
10,000 |
0.0% |
10,000 |
0.0% |
10,000 |
|
P&L Account Reserve |
1,715,435 |
19.7% |
1,433,025 |
17.5% |
1,219,896 |
|
Sundry Reserves |
0 |
- |
0 |
- |
0 |
|
Revaluation Reserve |
0 |
- |
0 |
- |
0 |
|
Shareholder Funds |
1,725,435 |
19.6% |
1,443,025 |
17.3% |
1,229,896 |
|
Net Worth |
1,467,458 |
15.7% |
1,268,274 |
3.1% |
1,229,896 |
|
Miscellaneous |
|||||
|
Net Cashflow from Operations |
477,066 |
74.5% |
273,401 |
- |
0 |
|
Net Cashflow before Financing |
3,819 |
74.9% |
2,184 |
- |
0 |
|
Net Cashflow from Financing |
3,819 |
74.9% |
2,184 |
- |
0 |
|
Capital Employed |
2,729,251 |
35.6% |
2,012,282 |
18.3% |
1,700,924 |
|
No of Employees |
0 |
- |
0 |
-100.0% |
14 |
|
Balance Sheet |
|||||
|
Tangible Assets |
282,481 |
128.7% |
123,540 |
-17.2% |
149,292 |
|
Intangible Assets |
257,977 |
47.6% |
174,751 |
- |
0 |
|
Total Fixed Assets |
540,458 |
81.2% |
298,291 |
99.8% |
149,292 |
|
Stocks & Work-in-Progress |
1,327,828 |
0.7% |
1,318,123 |
-14.3% |
1,538,281 |
|
Debtors |
|||||
|
- Trade Debtors |
1,782,346 |
3.6% |
1,719,977 |
-9.2% |
1,893,844 |
|
Cash |
77,949 |
1,159.1% |
6,191 |
402.1% |
1,233 |
|
Misc. Current Assets |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
|
|
|
|
|
|
Creditors |
|||||
|
- Trade Creditors |
705,606 |
18.9% |
593,264 |
-42.3% |
1,028,436 |
|
- Bank Overdraft |
597,168 |
-2.1% |
609,998 |
1.9% |
598,439 |
|
Increase in Cash |
71,758 |
1,347.3% |
4,958 |
- |
0 |
|
Total Current Liabilities |
1,606,684 |
-3.9% |
1,671,845 |
-15.2% |
1,970,875 |
|
Other Short Term Loans |
101,989 |
1,656.0% |
5,808 |
- |
0 |
|
Miscellaneous Current Liabilities |
201,921 |
-56.4% |
462,775 |
34.5% |
344,000 |
|
Other Long Term Finance |
1,003,816 |
76.3% |
569,257 |
20.9% |
471,028 |
|
Total Long Term Liabilities |
1,003,816 |
76.3% |
569,257 |
20.9% |
471,028 |
|
Overdraft Long Term Liabilities |
1,600,984 |
35.8% |
1,179,255 |
10.3% |
1,069,467 |
|
Liabilities |
2,610,500 |
16.5% |
2,241,102 |
-8.2% |
2,441,903 |
|
Net Assets |
1,725,435 |
19.6% |
1,443,025 |
17.3% |
1,229,896 |
|
Working Capital |
2,188,793 |
27.7% |
1,713,991 |
10.5% |
1,551,632 |
|
Current Assets |
3,795,477 |
12.1% |
3,385,836 |
-3.9% |
3,522,507 |
|
Other Current Assets |
607,354 |
77.8% |
341,545 |
283.1% |
89,149 |
|
Ratios |
|||||
|
Date To |
31/05/2010 |
% |
31/05/2009 |
% |
31/05/2008 |
|
Trading Performance |
|||||
|
Pre-Tax Profit Margin |
0.0% |
- |
0.0% |
- |
0.0% |
|
Return on Capital Employed |
12.1 % |
- |
12.2 % |
- |
25.0 % |
|
Return on Total Assets Employed |
7.6 % |
- |
6.7 % |
- |
11.6 % |
|
Return on Net Assets Employed |
19.1 % |
- |
17.1 % |
- |
34.6 % |
|
Sales/Net Working Capital |
0.00 |
- |
0.00 |
- |
0.00 |
|
Operating Efficiency |
|||||
|
Stock Turnover Ratio |
0.0% |
- |
0.0% |
- |
0.0% |
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Debtor Days |
0.00 |
- |
0.00 |
- |
0.00 |
|
Creditor Days |
0.00 |
- |
0.00 |
- |
0.00 |
|
Short Term Stability |
|||||
|
Current Ratio |
2.36 |
- |
2.03 |
- |
1.79 |
|
Liquidity Ratio/Acid Ratio |
1.53 |
- |
1.23 |
- |
1.00 |
|
Current Debt Ratio |
0.9 % |
- |
1.2 % |
- |
1.6 % |
|
Long Term Stability |
|||||
|
Gearing |
92.8 % |
- |
81.7 % |
- |
87.0 % |
|
Equity in Percentage |
42.3 % |
- |
41.1 % |
- |
33.5 % |
|
Total Debt Ratio |
1.5 % |
- |
1.6 % |
- |
2.0 % |
CCJ
Summary
|
CCJ Summary |
|
|
|
CCJ's Amount |
0 |
|
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CCJ's Value (€) |
0 |
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Writs |
0 |
|
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Record of Payments |
|||
|
No record of payments for company. |
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Group
Structure
|
No Group Structure for this company. |
Company
History
|
Event History |
|
|
Date |
Description |
|
01/03/2011 |
Annual Returns |
|
01/03/2011 |
New Accounts Filed |
|
01/03/2011 |
New Accounts Filed |
|
20/09/2010 |
Annual Returns |
|
20/09/2010 |
New Accounts Filed |
|
20/02/2010 |
Annual Returns |
|
18/02/2010 |
New Accounts Filed |
|
18/02/2010 |
New Accounts Filed |
|
16/06/2009 |
Annual Returns |
|
15/06/2009 |
New Accounts Filed |
|
29/05/2009 |
CIARAN TREACY has left the board |
|
29/05/2009 |
CIARAN TREACY has resigned as company secretary |
|
29/05/2009 |
New Company Secretary (DEREK WHELAN) appointed |
|
30/09/2008 |
Annual Returns |
|
30/09/2008 |
New Accounts Filed |
|
01/05/2008 |
BRENDAN RONAN has left the board |
|
Status History |
|
|
No status history for this company. |
|
Directors
|
Director |
|
|
Directors Title |
|
|
Name of Director |
DEREK WHELAN |
|
Address of Director |
12 DUN NA RIOGH GLADE, NAAS, CO. KILDARE |
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Postcode of Director |
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|
Date of Birth |
21/12/1975 |
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Nationality of Director |
|
|
Director Honours |
|
|
Present Appointments |
2 |
|
Function |
Company Secretary |
|
Appointment Date |
29/05/2009 |
|
Director |
|
|
Directors Title |
|
|
Name of Director |
DEREK WHELAN |
|
Address of Director |
12 DUN NA RIOGH GLADE, NAAS, CO. KILDARE |
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Postcode of Director |
|
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Date of Birth |
21/12/1975 |
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Nationality of Director |
|
|
Director Honours |
|
|
Present Appointments |
2 |
|
Function |
Director |
|
Appointment Date |
06/11/2001 |
|
Director |
|
|
Directors Title |
|
|
Name of Director |
PATRICK CARSON |
|
Address of Director |
7, |
|
Postcode of Director |
|
|
Date of Birth |
27/05/1951 |
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Nationality of Director |
|
|
Director Honours |
|
|
Present Appointments |
15 |
|
Function |
Director |
|
Appointment Date |
07/04/2001 |
Image
Accounts
|
Accounts Images |
|
|
31-05-2010 |
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|
31-05-2009 |
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31-05-2009 |
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31-05-2008 |
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|
31-05-2007 |
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Returns Images |
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31-05-2010 |
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31-05-2009 |
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31-05-2009 |
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31-05-2008 |
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31-05-2007 |
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Other Images |
||
|
08-02-2010 |
B77 AUTHORISE AGENT |
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|
08-06-2009 |
B10 CHANGE IN DIRS/SEC |
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|
25-09-2008 |
B10 CHANGE IN DIRS/SEC |
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25-09-2008 |
B10 CHANGE IN DIRS/SEC |
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|
25-09-2008 |
B10 CHANGE IN DIRS/SEC |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.65 |
|
|
1 |
Rs.71.93 |
|
Euro |
1 |
Rs.63.24 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.