MIRA INFORM REPORT

Report Date :

05.04.2011

IDENTIFICATION DETAILS

Name :	SMILEY MONROE (IRELAND) LIMITED

Registered Office :	Main Street, Ballybrittas, Portlaoise, Laois, Town Code 452810

Country :	Ireland

Financials (as on) :	31.12.2009

Date of Incorporation :	11.01.2002

Com. Reg. No.:	IE351985

Legal Form :	Single Member Private Company Limited By Shares

Line of Business :	supply of rubber products to the quarry industry

RATING & COMMENTS

MIRA’s Rating :

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 :	(€) 150,000
Status :	Very 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)

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	SMILEY MONROE (IRELAND) LIMITED
Company Number	IE351985
Telephone Number
Address	MAIN STREET, BALLYBRITTAS, PORTLAOISE, LAOIS
Town Code	452810
Company Type	SINGLE MEMBER PRIVATE COMPANY LIMITED BY SHARES
Incorporation Date	11/01/2002

Company Status Summary
Company Status	Active - Accounts Filed
Limit (€)	150,000
Active CCJ's	0
Value of CCJ's (€)	0
Writs	0

Director Summary
Directorships	3
Total Directorships	5

Financial Information
Date	31/12/2009	%	31/12/2008	%	31/12/2007
Currency	NaN		NaN		NaN
Turnover	0	-	0	-	0
Shareholder Equity	2,293,722	2.3%	2,242,374	12.9%	1,986,542
Number of employees	0	-	0	-	6

Accounts & Ratios

Period
Date From	01/01/2009	%	02/01/2008	%	01/01/2007
Date To	31/12/2009	-	31/12/2008	-	31/12/2007
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	-	-	1,180,320	-	-
Operating Profit	-	-	339,808	-	-
Pre-Tax Profit	0	-100.0%	297,180	-	0
Tax	-	-	-41,348	-	-
Post-Tax Profit	-	-	255,832	-	-
Dividends	-	-	0	-	-
Retained Profit	-	-	255,832	-	-
Interest Payable	-	-	42,628	306.2%	10,495
Directors Remuneration	-	-	114,629	0.3%	114,328
Wages & Salaries	-	-	393,805	34.5%	292,805
Depreciation of Tangibles	-	-	30,883	49.6%	20,647
Auditor Fees	-	-	-	-	-

Capitals & Reserves
Called up Share Capital	1	0.0%	1	0.0%	1
P&L Account Reserve	2,293,721	2.3%	2,242,373	12.9%	1,986,541
Sundry Reserves	0	-	0	-	0
Revaluation Reserve	0	-	0	-	0
Shareholder Funds	2,293,722	2.3%	2,242,374	12.9%	1,986,542
Net Worth	2,293,722	2.3%	2,242,374	12.9%	1,986,542

Miscellaneous
Net Cashflow from Operations	0	-	0	-	0
Net Cashflow before Financing	0	-	0	-	0
Net Cashflow from Financing	0	-	0	-	0
Capital Employed	2,294,173	1.6%	2,257,270	11.9%	2,016,931
No of Employees	0	-	0	-100.0%	6

Balance Sheet
Tangible Assets	77,637	-23.8%	101,885	-0.9%	102,770
Intangible Assets	0	-	0	-	0
Total Fixed Assets	77,637	-23.8%	101,885	-0.9%	102,770
Stocks & Work-in-Progress	9,119	-64.6%	25,735	-9.0%	28,267
Debtors
- Trade Debtors	2,180,496	370.9%	463,055	-42.0%	797,984
Cash	146,147	5,029.8%	2,849	-26.2%	3,862
Misc. Current Assets	0	-	0	-	0
Total Current Assets
Creditors
- Trade Creditors	88,675	54.9%	57,238	-14.7%	67,091
- Bank Overdraft	888	-97.7%	38,759	-92.1%	490,648
Increase in Cash	143,298	14,245.9%	-1,013	-	0
Total Current Liabilities	119,226	-82.1%	665,118	-7.7%	720,412
Other Short Term Loans	13,153	-97.5%	533,116	2,089.6%	24,348
Miscellaneous Current Liabilities	16,510	-54.1%	36,005	-74.0%	138,325
Other Long Term Finance	0	-100.0%	13,153	-56.7%	30,389
Total Long Term Liabilities	451	-97.0%	14,896	-51.0%	30,389
Overdraft Long Term Liabilities	1,339	-97.5%	53,655	-89.7%	521,037
Liabilities	119,677	-82.4%	680,014	-9.4%	750,801
Net Assets	2,293,722	2.3%	2,242,374	12.9%	1,986,542
Working Capital	2,216,536	2.8%	2,155,385	12.6%	1,914,161
Current Assets	2,335,762	-17.2%	2,820,503	7.1%	2,634,573
Other Current Assets	0	-100.0%	2,328,864	29.1%	1,804,460

Ratios
Date To	31/12/2009	%	31/12/2008	%	31/12/2007
Trading Performance
Pre-Tax Profit Margin	0.0%	-	0.0%	-	0.0%
Return on Capital Employed	0.0%	-	13.2 %	-	0.0%
Return on Total Assets Employed	0.0%	-	10.2 %	-	0.0%
Return on Net Assets Employed	0.0%	-	13.3 %	-	0.0%
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	19.59	-	4.24	-	3.66
Liquidity Ratio/Acid Ratio	19.51	-	4.20	-	3.62
Current Debt Ratio	0.1 %	-	0.3 %	-	0.4 %
Long Term Stability
Gearing	0.1 %	-	2.4 %	-	26.2 %
Equity in Percentage	95.0 %	-	76.7 %	-	72.6 %
Total Debt Ratio	0.1 %	-	0.3 %	-	0.4 %

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	SMILEY MONROE HOLDINGS LIMITED
Number of company in Group	3
Company Name	Company Number	Accounts Date
SMILEY MONROE HOLDINGS LIMITED	NI042483	31/12/2009
SMILEY MONROE LIMITED	NI020012	31/12/2009
SMILEY MONROE (IRELAND) LIMITED	IE351985	31/12/2009

Company History

Event History
Date	Description
13/08/2010	Annual Returns
13/08/2010	New Accounts Filed
13/08/2010	New Accounts Filed
27/08/2009	MARTIN BUCHANAN has left the board
30/07/2009	Annual Returns
30/07/2009	New Accounts Filed
26/08/2008	Annual Returns
18/08/2008	New Accounts Filed

Status History
No status history for this company.

Directors

Director
Directors Title
Name of Director	MARY MONROE
Address of Director	THE STABLES, CROSS LANE, MAZE, LISBURN, CO ANTRIM
Postcode of Director
Date of Birth	11/03/1952
Nationality of Director
Director Honours
Present Appointments	2
Function	Company Secretary
Appointment Date	11/01/2002

Director
Directors Title
Name of Director	MARY MONROE
Address of Director	THE STABLES, CROSS LANE, MAZE, LISBURN, CO ANTRIM
Postcode of Director
Date of Birth	11/03/1952
Nationality of Director
Director Honours
Present Appointments	2
Function	Director
Appointment Date	31/08/2005

Director
Directors Title
Name of Director	DAVID VAUGHAN MONROE
Address of Director	THE STABLES, CROSS LANE, MAZE, LISBURN, CO ANTRIM
Postcode of Director
Date of Birth	08/01/1951
Nationality of Director
Director Honours
Present Appointments	1
Function	Director
Appointment Date	11/01/2002

Image Accounts

Accounts Images
31-12-2009
31-12-2008
31-12-2007
31-12-2006

Returns Images
31-12-2009
31-12-2008
31-12-2007
31-12-2006

Other Images
21-02-2011	B47 NOTICE(LETTER) OF RESIGNATION OF AUDITOR
05-02-2010	B47 NOTICE(LETTER) OF RESIGNATION OF AUDITOR
18-09-2009	B10 CHANGE IN DIRS/SEC
18-02-2008	B47 NOTICE(LETTER) OF RESIGNATION OF AUDITOR
10-12-2007	B2 CHANGE IN SITUATION OF REG OFFICE.

Creditsafe CreditNet

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.65
UK Pound	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%)

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	SMILEY MONROE (IRELAND) LIMITED
Company Number	IE351985
Registered Office Address	MAIN STREETBALLYBRITTASPORTLAOISELAOIS
Registered Office Post Code	452810
Registered Telephone No.
TPS Registered	N
Trading Address
Trading Postal Code
Trading Telephone Number
TPS Registered

Auditor/Banker's Information
Auditor Name	GOLDBLATT MCGUIGAN
Auditor Qualification	No Adverse Comments
Banker Name	NATIONAL IRISH BANK LIMITED
Banker Sort Code

Other Information
Website Address
Incorporation Date	11/01/2002
Company Type	SINGLE MEMBER PRIVATE COMPANY LIMITED BY SHARES
Type of Accounts	Small Company
Date of Latest Accounts	31/12/2009
Filing Date of Accounts
Annual Return Date	11/07/2010

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	1
Currency of Share	EUR

Name of Shareholder	SMILEY MONROE LTD
Nominal Value of each Share
Currency of Share	EUR

Industry Information
Industry Description	The supply of rubber products to the quarry industry.