MIRA INFORM REPORT

 

 

Report Date :           

06.04.2011

 

IDENTIFICATION DETAILS

 

Name :

SMILEY MONROE HOLDINGS LIMITED

 

 

Formerly Known As :

GLANTANE LIMITED

 

 

Registered Office :

23 Ferguson Drive, Knockmore Hill Industrial Park, Lisburn Bt28 2ex

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

08.02.2002

 

 

Com. Reg. No.:

NI042483

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

manufacture and supply of conveyor belts, vulcanising rubber and polyrethane screens, rubber kits and chute lining and rubber moulding

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Poor

Payment Behaviour :

Unknown

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

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company summary

 

Company Name

SMILEY MONROE HOLDINGS LIMITED

Company Number

NI042483

Registered Address

23 FERGUSON DRIVE

Trading Address

23 Ferguson Drive
Knockmore Hill Industrial Park
Lisburn
BT28 2EX

 

KNOCKMORE HILL INDUSTRIAL PARK

 

 

LISBURN

 

 

BT28 2EX

 

 

Website Address

http://www.smileymonroe.com

 

 

Telephone Number

02892673777

Fax Number

 

TPS

No

FPS

No

Incorporation Date

08/02/2002

Company Status

Active - Accounts Filed

Previous Name

GLANTANE LIMITED

Type

Private limited with Share Capital

 

 

Filing Date of Accounts

08/07/2010

Date of Change

13/03/2002

Share Capital

£8,250

Sic Code

7020

Currency

GBP

Sic Description

LETTING OF PROPERTY

Principal Activity

A group engaged in manufacture and supply of conveyor belts, vulcanising rubber and polyrethane screens, rubber kits and chute lining and rubber moulding.

 

 

Credit Limit

 

Limit

Cash Transactions Preferred

Previous Limit

£25,000

Contract Limit

No Limit

 

 

 

 

Commentary

 

No exact match CCJs are recorded against the company.

The credit limit on this company has fallen 100% in comparison to the previously suggested credit limit.

The previous 12 month trading period saw a drop in Sales of 52.4%.

In the previous 12 month trading period Net Worth decreased by 31.5%.

A 25.5% decline in Total Assets occurred in the previous 12 month trading period.

Pre-tax profits decreased by 100.4% in the previous 12 month trading period.

The company saw an increase in their Cash Balance of 999.9% in the previous 12 month trading period.

The audit report states that there is uncertainty concerning the company being a ‘going concern’.

The company has undergone recent changes in its directorships.

The company is part of a group.

The company has changed its registered address recently.

The company was established over 9 years ago.

 

 

Last 3 Years Credit Limit

 

Date

Limit

31/12/2010

£0

31/12/2009

£60,000

31/12/2008

£125,000

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

31/12/2009

£6,116,587

-£401,412

£1,293,081

57

31/12/2008

£12,846,341

-£200,294

£1,887,572

110

31/12/2007

£12,793,190

£501,061

£1,695,129

98

 

 

CCJ

 

Total Number of Exact CCJs -

0

Total Value of Exact CCJs -

 

Total Number of Possible CCJs -

0

Total Value of Possible CCJs -

 

Total Number of Satisfied CCJs -

0

Total Value of Satisfied CCJs -

 

Total Number of Writs -

0

 

 

 

 

Exact CCJ Details

 

There are no exact CCJ details

 

 

Possible CCJ Details

 

There are no possible CCJ details

Writ Details

 

There are no writ details

 

 

Mortgage Summary

 

Outstanding

4

Satisfied

0

 

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

2

 

 

Current Directors

 

Name

David Vaughan Monroe

Date of Birth

08/01/1951

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

07/03/2002

 

 

Address

Cross Lane,  Maze,  Lisburn,  BT28 2TH

 

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Mary Kathleen Monroe

Date of Birth

11/03/1952

Officers Title

Mrs

Nationality

British

Present Appointments

3

Function

Director

Appointment Date

28/02/2008

 

 

Address

The Stables,  1b Cross Lane,  Maze Lisburn,  BT28 2TH

Other Actions

View Director Report

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Current Company Secretary

 

Name

Mary Kathleen Monroe

Date of Birth

11/03/1952

Officers Title

Mrs

Nationality

British

Present Appointments

3

Function

Company Secretary

Appointment Date

08/02/2002

 

 

Address

The Stables,  1b Cross Lane,  Maze Lisburn,  BT28 2TH

Other Actions

 

View Consumer Report

View Trace Report

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 



 

Top 20 Shareholders

 

Name

Individual Share Value

MRS MARY KATHLEEN MONROE

4,125 ORDINARY GBP 1.00

MR DAVID VAUGHAN MONROE

4,125 ORDINARY GBP 1.00

 

 

Profit & Loss

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

Y

(%)

Y

(%)

Y

(%)

Y

(%)

N

Turnover

£6,116,587

-52.4%

£12,846,341

0.4%

£12,793,190

27.2%

£10,055,888

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

£4,072,261

-

£8,554,621

-

£8,006,333

-

£6,162,815

-

-

Gross Profit

£2,044,326

-52.4%

£4,291,720

-10.3%

£4,786,857

23%

£3,893,073

-

-

Wages & Salaries

£1,448,100

-51.4%

£2,982,586

10.7%

£2,694,908

22.8%

£2,194,043

-

-

Directors Emoluments

£64,386

-34.3%

£98,067

-38.1%

£158,443

-37.3%

£252,811

-

-

Operating Profit

-£185,385

-919.5%

£22,623

-96.7%

£685,937

-9.8%

£760,311

-

-

Depreciation

£259,380

-3.1%

£267,581

-11.6%

£302,608

47.9%

£204,597

299.5%

£51,215

Audit Fees

-

-

£18,869

37.1%

£13,758

34.1%

£10,262

-

-

Interest Payments

£220,374

-2.5%

£225,979

22.2%

£184,876

1.1%

£182,921

-

-

Pre Tax Profit

-£401,412

-100.4%

-£200,294

-140%

£501,061

-13.4%

£578,704

-

-

Taxation

£15,721

130%

-£52,413

62.3%

-£138,966

-5.7%

-£131,490

-

-

Profit After Tax

-£385,691

-52.6%

-£252,707

-169.8%

£362,095

-19%

£447,214

-

-

Dividends Payable

£70,352

17.3%

£60,000

-39.3%

£98,895

-33.9%

£149,540

-

-

Retained Profit

-£429,918

-53.9%

-£279,279

-221.2%

£230,387

-22.6%

£297,674

-

-

 

Balance Sheet

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Tangible Assets

£2,840,031

-8.4%

£3,101,763

9%

£2,845,538

11.9%

£2,542,642

30.2%

£1,952,855

Intangible Assets

0

-

0

-100%

£3,375

-30.8%

£4,875

-

0

Total Fixed Assets

£2,840,031

-8.4%

£3,101,763

8.9%

£2,848,913

11.8%

£2,547,517

30.5%

£1,952,855

Stock

£1,592,626

-51.2%

£3,263,886

117.5%

£1,500,638

50%

£1,000,220

-

0

Trade Debtors

£1,524,098

-4.6%

£1,596,982

-35.3%

£2,469,001

44.8%

£1,704,625

-

0

Cash

£138,465

999.9%

£4,890

-63.3%

£13,330

-72.7%

£48,780

999.9%

£3,587

Other Debtors

0

-100%

£212,635

50.6%

£141,150

42.2%

£99,246

111.2%

£46,997

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£3,255,189

-35.9%

£5,078,393

23.1%

£4,124,119

44.6%

£2,852,871

999.9%

£50,584

Trade Creditors

£801,351

-61.4%

£2,075,677

13.6%

£1,826,484

14.4%

£1,596,269

-

0

Bank Loans & Overdrafts

£1,551,286

9.3%

£1,418,816

3.8%

£1,367,399

217.4%

£430,776

-

0

Other Short Term Finance

£955,233

-5.5%

£1,010,810

537.5%

£158,564

12%

£141,525

-

0

Miscellaneous Current Liabilities

£230,606

-8.3%

£251,366

-43.5%

£444,600

20.3%

£369,659

-49.6%

£732,847

Total Current Liabilities

£3,538,476

-25.6%

£4,756,669

25.3%

£3,797,047

49.6%

£2,538,229

246.4%

£732,847

Bank Loans & Overdrafts and LTL

£2,814,949

-4.7%

£2,954,731

3.7%

£2,848,255

58%

£1,802,933

53.6%

£1,173,789

Other Long Term Finance

£185,268

-33.1%

£276,899

63.3%

£169,551

19%

£142,423

-

0

Total Long Term Liabilities

£1,263,663

-17.7%

£1,535,915

3.7%

£1,480,856

7.9%

£1,372,157

16.9%

£1,173,789

 

Capital & Reserves

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Called Up Share Capital

£8,250

-

£8,250

-

£8,250

-94.2%

£143,250

999.9%

£8,250

P & L Account Reserve

£1,203,981

-33.1%

£1,798,472

12.1%

£1,604,677

35.2%

£1,186,935

999.9%

£14,303

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

£80,850

-

£80,850

-1.6%

£82,202

-48.6%

£159,817

115.2%

£74,250

Shareholder Funds

£1,293,081

-31.5%

£1,887,572

11.4%

£1,695,129

13.8%

£1,490,002

999.9%

£96,803

 

 

Other Financial Items

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Net Worth

£1,293,081

-31.5%

£1,887,572

11.6%

£1,691,754

13.9%

£1,485,127

999.9%

£96,803

Working Capital

-£283,287

-188.1%

£321,724

-1.6%

£327,072

4%

£314,642

146.1%

-£682,263

Total Assets

£6,095,220

-25.5%

£8,180,156

17.3%

£6,973,032

29.1%

£5,400,388

169.6%

£2,003,439

Total Liabilities

£4,802,139

-23.7%

£6,292,584

19.2%

£5,277,903

35%

£3,910,386

105.1%

£1,906,636

Net Assets

£1,293,081

-31.5%

£1,887,572

11.4%

£1,695,129

13.8%

£1,490,002

999.9%

£96,803

 

 

Cash Flow

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Net Cashflow from Operations

£482,019

999.9%

£42,032

-16.3%

£50,191

-95.1%

£1,018,093

-

-

Net Cashflow before Financing

£237,648

145.7%

-£519,680

27.2%

-£713,467

-257.1%

£454,142

-

-

Net Cashflow from Financing

-£263,652

-5.5%

-£249,999

5.8%

-£265,466

20.3%

-£333,192

-

-

Increase in Cash

-£26,004

96.6%

-£769,679

21.4%

-£978,933

-909.4%

£120,950

-

-

 

Miscellaneous

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£2,556,744

-25.3%

£3,423,487

7.8%

£3,175,985

11%

£2,862,159

125.3%

£1,270,592

Number of Employees

57

-48.2%

110

12.2%

98

5.4%

93

-

-

Auditors

HANNA THOMPSON LIMITED

Auditor Comments

The audit report states that there is uncertainty concerning the company being an ongoing concern

Bankers

NORTHERN BANK LTD

Bank Branch Code

95-03-61

 

 

Ratios

 

Date Of Accounts

31/12/09

31/12/08

31/12/07

31/12/06

31/12/05

Pre-tax profit margin %

-6.56

-1.56

3.92

5.75

-

Current ratio

0.92

1.07

1.09

1.12

0.07

Sales/Net Working Capital

-21.59

39.93

39.11

31.96

-

Gearing %

217.70

156.50

168

121

1212.60

Equity in %

21.20

23.10

24.30

27.60

4.80

Creditor Days

47.68

58.81

51.96

57.78

-

Debtor Days

90.69

45.25

70.24

61.70

-

Liquidity/Acid Test

0.46

0.38

0.69

0.73

0.07

Return On Capital Employed %

-15.70

-5.85

15.77

20.22

-

Return On Total Assets Employed %

-6.58

-2.44

7.18

10.71

-

Current Debt Ratio

2.73

2.51

2.23

1.70

7.57

Total Debt Ratio

3.71

3.33

3.11

2.62

19.70

Stock Turnover Ratio %

26.03

25.40

11.72

9.95

-

Return on Net Assets Employed %

-31.04

-10.61

29.55

38.84

-

 

 

Status History

 

No Status History found

 

 

 

 

Event History

 

Date

Description

 

08/03/2011

Annual Returns

 

26/07/2010

New Company Secretary Mrs M.K. Monroe appointed

 

23/07/2010

New Board Member Mrs M.K. Monroe appointed

 

20/07/2010

New Accounts Filed

 

20/07/2010

New Accounts Filed

 

15/03/2010

Annual Returns

 

09/10/2009

New Board Member Ms M.K. Monroe appointed

 

09/10/2009

New Board Member Mr D.V. Monroe appointed

 

09/10/2009

New Company Secretary Ms M.K. Monroe appointed

 

08/10/2009

Change in Reg.Office

 

23/07/2009

New Accounts Filed

 

23/07/2009

New Accounts Filed

 

03/04/2009

Annual Returns

 

23/05/2008

New Accounts Filed

 

23/05/2008

New Accounts Filed

 

 

 

Limit History

 

Date

Limit

20/07/2010

£0

15/03/2010

£25,000

23/07/2009

£60,000

21/07/2009

£90,000

03/04/2009

£95,000

20/02/2009

£105,000

23/05/2008

£125,000

08/10/2007

£0

08/08/2006

£0

12/07/2006

£50,000

 

 

Previous Company Names

 

Date

Previous Name

Companies House Documents

13/03/2002

GLANTANE LIMITED

 

Group Structure Summary

 

Company Name

SMILEY MONROE HOLDINGS LIMITED

Company Number

NI042483

Holding Company

SMILEY MONROE HOLDINGS LIMITED

Ownership Status

Ultimately Owned

Ultimate Holding Company

SMILEY MONROE HOLDINGS LIMITED

Companies in group

3

 

 

Group structure

 

Company Name

 

Safe Number

Registered Number

Latest Key Financials

Consol. Accounts

Rating

Limit

Turnover

SMILEY MONROE HOLDINGS LIMITED

 

UK07037343

NI042483

31.12.2009

Y

19

£0

£6,116,587

SMILEY MONROE LIMITED

 

UK07015629

NI020012

31.12.2009

N

12

£0

£5,239,790

SMILEY MONROE (IRELAND) LIMITED

 

IE00344410

IE351985

31.12.2009

N

93

€150,000

-



Exact CCJ Details

 

No CCJs found

 

 

Possible CCJs Details

 

There are no possible CCJ details

 

 

Writ Details

No writs found

Mortgage Details

 

Mortgage Type:

MORTGAGE OR CHARGE

Date Charge Created:

17/11/04

 

 

Date Charge Registered:

25/11/04

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

NORTHERN BANK LIMITED

Amount Secured:

N/A

Details:

ALL MONIES CHARGE OVER ALL BOOK DEBTS ALL BOOK DEBTS AND OTHER DEBTS NOW ANDFROM TIME TO TIME HEREAFTER DUE OWING OR INCURRED TO THE COMPANY

 

Mortgage Type:

MORTGAGE OR CHARGE

Date Charge Created:

17/11/04

 

 

Date Charge Registered:

25/11/04

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

NORTHERN BANK LIMITED

Amount Secured:

N/A

Details:

ALL MONIES FLOATING CHARGE THE UNDERTAKING OF THE COMPANY AND ALL ITS PROPERTY WHATSOEVER AND WHERESOEVER BOTH PRESENT AND FUTURE INCLUDING ITS UNCALLED CAPITAL FOR THE TIME BEING

 

Mortgage Type:

MORTGAGE OR CHARGE

Date Charge Created:

21/09/04

 

 

Date Charge Registered:

01/10/04

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

NORTHERN BANK LTD

Amount Secured:

N/A

Details:

ALL MONIES MORTGAGE LANDS COMPRISED IN FOLIO NOS 28600, 3908 AND AN91178L ALL COUNTY ANTRIM TOGETHER WITH ALL MACHINERY UTENSILS CHATTELS AND THINGS NOW OR AT ANY TIME HEREAFTER UPON ALL OF THE AFORESAID PREMISES

 

Mortgage Type:

MORTGAGE OR CHARGE

Date Charge Created:

21/09/04

 

 

Date Charge Registered:

01/10/04

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

NORTHERN BANK LTD

Amount Secured:

N/A

Details:

ALL MONIES MORTGAGE PREMISES SITUATE AT AND KNOWN AS SMILEY & MONROE FACTORY PREMISES AT CROSS LANE MAZE, LISBURN, COUNTY ANTRIM BEING PARTS OF THE LANDS OF LISSUE IN THE PARISH OF BLARIS, BARONYOF UPPER MASSEREENE AND COUNTY OF ANTRIM TOGETHER WITH ALL MACHINERY UTENSILS CHATTELS ANDTHINGS NOW OR AT ANY TIME HEREAFTER UPON ALL OF THE AFORESAID PREMISES

 

 

Creditor Details

 

No Creditor Data

Total Value

-

 

 

Trade Debtors / Bad Debt Detail

 

No Debtor Data

Total Value

-

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

Dorothy May Kane

217

5230

Malcolm Joseph Harrison

58

2647

Bottom of Form

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.45

UK Pound

1

Rs.71.59

Euro

1

Rs.63.01

 

 

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%)

 

 

 

 

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