MIRA INFORM REPORT

 

 

Report Date :            

16.04.2011

 

IDENTIFICATION DETAILS

 

Name :

SMILEY MONROE LIMITED 

 

 

Formerly Known As :

SMILEY AND MONROE LIMITED

 

 

Registered Office :

23 Ferguson Drive , Lisburn, County Antrim, Bt28 2ex

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

04.12.1986

 

 

Com. Reg. No.:

NI020012

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Manufacture and supply conveyor belts with both factory vulcanised splices and on sale belt maintenance also rubber and polyurethane screens media bespoke cut rubber parts for conveyor 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 LIMITED

Company Number

NI020012

Registered Address

23 FERGUSON DRIVE

Trading Address

23 Ferguson Drive
Knockmore Hill Industrial Park
Lisburn
BT28 23X

LISBURN

COUNTY ANTRIM

BT28 2EX

Website Address

http://www.smileymonroe.com

Telephone Number

-

Fax Number

TPS

-

FPS

No

Incorporation Date

04/12/1986

Company Status

Active - Accounts Filed

Previous Name

SMILEY AND MONROE LIMITED

Type

Private limited with Share Capital

 

 

Filing Date of Accounts

05/04/2011

Date of Change

17/09/2001

Share Capital

£90,000

Sic Code

5190

Currency

GBP

Sic Description

OTHER WHOLESALE

Principal Activity

Manufacture and supply conveyor belts with both factory vulcanised splices and on sale belt maintenance also rubber and polyurethane screens media bespoke cut rubber parts for conveyor chute lining and rubber moulding.

 

 

credit limit

 

Limit

Cash Transactions Preferred

Previous Limit

£500

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 52.8%.

In the previous 12 month trading period Net Worth decreased by 237.8%.

A 29.8% decline in Total Assets occurred in the previous 12 month trading period.

Pre-tax profits increased by 0.9% in the previous 12 month trading period.

The company saw an increase in their Cash Balance of 162.8% in the previous 12 month trading period.

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

No recent changes in directorship are recorded.

The company is part of a group.

The company has changed its registered address recently.

The company was established over 24 years ago.

 

The company has recently filed accounts at Companies House

Last 3 Years Credit Limit

 

Date

Limit

31/12/2010

£0

31/12/2009

£500

31/12/2008

£12,000

 

 

Key Financials

 

 

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

31/12/2009

£5,239,790

-£597,001

-£822,752

48

31/12/2008

£11,094,937

-£602,435

-£243,526

92

31/12/2007

-

-£261,620

£362,214

102

 

 

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 -

s

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

5

Satisfied

1

 

 

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

4

 

 

Current Directors

 

Name

David Vaughan Monroe

Date of Birth

08/01/1951

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

04/12/1986

Address

The Stables,  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

22/09/1999

Address

The Stables,  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

-

Officers Title

Mrs

Nationality

Present Appointments

1

Function

Company Secretary

Appointment Date

04/12/1986

Address

The Stables Cross Lane,  Maze,  Lisburn,  BT28 9SF

Other Actions

View Consumer Report

View Trace Report

Disqualified

Disqualified End Date

Disqualification Exception

No

 

 

Top 20 Shareholders

 

 

Name

Individual Share Value

SMILEY MONROE HOLDINGS LTD

85,000 ORDINARY A GBP 1.00

JEREMY CROSS

2,500 ORDINARY A GBP 1.00

SMILEY MONROE HOLDINGS LTD

2,500 ORDINARY B 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

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

£5,239,790

-52.8%

£11,094,937

-

-

-

-

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

£3,817,779

-

£7,740,215

-

-

-

-

-

-

Gross Profit

£1,422,011

-57.6%

£3,354,722

-9.6%

£3,709,962

999.9%

£336,487

-87.3%

£2,652,328

Wages & Salaries

£1,192,881

-55.3%

£2,669,964

8.7%

£2,456,021

19.1%

£2,062,900

38.5%

£1,489,440

Directors Emoluments

£68,557

-49.2%

£134,948

-21.9%

£172,743

-10.5%

£192,923

-18.5%

£236,731

Operating Profit

£417,677

185.7%

-£487,498

-201.1%

-£161,886

-187.9%

£184,241

258.8%

£51,351

Depreciation

£200,864

-2.7%

£206,494

-5.5%

£218,520

67.4%

£130,564

8.8%

£120,030

Audit Fees

£6,650

5.6%

£6,300

-

-

-

£6,000

20%

£5,000

Interest Payments

£183,671

55.7%

£117,999

18.3%

£99,734

122.8%

£44,758

-68.4%

£141,827

Pre Tax Profit

-£597,001

0.9%

-£602,435

-130.3%

-£261,620

-448.8%

£74,995

183%

-£90,322

Taxation

£17,775

999.9%

-£1,953

15.3%

-£2,307

88.5%

-£19,982

-280.3%

-£5,254

Profit After Tax

-£579,226

4.2%

-£604,388

-129%

-£263,927

-579.8%

£55,013

157.6%

-£95,576

Dividends Payable

-

-

-

-100%

£107,895

-25.1%

£144,000

-

-

Retained Profit

-£579,226

4.2%

-£604,388

-62.5%

-£371,822

-317.8%

-£88,987

6.9%

-£95,576

 

 

Balance Sheet

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Tangible Assets

£859,887

-18.5%

£1,055,612

32.2%

£798,599

21.2%

£659,181

3.1%

£639,101

Intangible Assets

0

-

0

-100%

£3,375

-30.8%

£4,875

-23.5%

£6,375

Total Fixed Assets

£859,887

-18.5%

£1,055,612

31.6%

£801,974

20.8%

£664,056

2.9%

£645,476

Stock

£1,584,419

-51.1%

£3,238,832

118.9%

£1,479,809

48.6%

£996,087

-12.8%

£1,142,839

Trade Debtors

£111,697

-90.3%

£1,146,188

-39.1%

£1,880,994

44.2%

£1,304,095

31.7%

£990,110

Cash

£5,573

162.8%

£2,121

-79.8%

£10,484

-56.7%

£24,237

273.6%

£6,488

Other Debtors

£1,929,938

101.9%

£955,740

-4.8%

£1,003,490

29%

£777,608

-4.4%

£813,216

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£3,631,627

-32%

£5,342,881

22.1%

£4,374,777

41%

£3,102,027

5.1%

£2,952,653

Trade Creditors

£725,773

-64.2%

£2,025,888

14%

£1,777,047

18.4%

£1,501,139

7.1%

£1,401,202

Bank Loans & Overdrafts

£1,477,184

13.7%

£1,298,982

32.6%

£979,342

160.3%

£376,267

-38.9%

£615,492

Other Short Term Finance

£2,630,015

-4.5%

£2,754,146

86.2%

£1,479,295

145.8%

£601,791

438.5%

£111,757

Miscellaneous Current Liabilities

£201,788

4.1%

£193,865

-42.1%

£334,698

6.8%

£313,407

39%

£225,443

Total Current Liabilities

£5,034,760

-19.7%

£6,272,881

37.3%

£4,570,382

63.7%

£2,792,604

18.6%

£2,353,894

Bank Loans & Overdrafts and LTL

£1,756,690

5.3%

£1,668,120

36.3%

£1,223,497

98.3%

£617,063

-40.6%

£1,038,056

Other Long Term Finance

£185,268

-29.8%

£264,095

91.2%

£138,129

7.6%

£128,384

-43.8%

£228,563

Total Long Term Liabilities

£279,506

-24.3%

£369,138

51.2%

£244,155

1.4%

£240,796

-43%

£422,564

 

 

Capital & Reserves

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Called Up Share Capital

£90,000

-

£90,000

-

£90,000

-

£90,000

-

£90,000

P & L Account Reserve

-£919,352

-170.3%

-£340,126

-228.7%

£264,262

-47.3%

£501,083

-15.1%

£590,071

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

£6,600

-

£6,600

-17%

£7,952

-94.4%

£141,600

-

£141,600

Shareholder Funds

-£822,752

-237.8%

-£243,526

-167.2%

£362,214

-50.6%

£732,683

-10.8%

£821,671

 

 

Other Financial Items

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Net Worth

-£822,752

-237.8%

-£243,526

-167.9%

£358,839

-50.7%

£727,808

-10.7%

£815,296

Working Capital

-£1,403,133

-50.9%

-£930,000

-375.4%

-£195,605

-163.2%

£309,423

-48.3%

£598,759

Total Assets

£4,491,514

-29.8%

£6,398,493

23.6%

£5,176,751

37.5%

£3,766,083

4.7%

£3,598,129

Total Liabilities

£5,314,266

-20%

£6,642,019

38%

£4,814,537

58.7%

£3,033,400

9.3%

£2,776,458

Net Assets

-£822,752

-237.8%

-£243,526

-167.2%

£362,214

-50.6%

£732,683

-10.8%

£821,671

 

Cash Flow

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Net Cashflow from Operations

-

-

-

-

-£18,528

-102.2%

£850,334

148.7%

£341,977

Net Cashflow before Financing

-

-

-

100%

-£448,017

-171.6%

£626,042

579.8%

-£130,477

Net Cashflow from Financing

-

-

-

-

-£168,428

38%

-£271,716

-89.3%

-£143,503

Increase in Cash

-

-

-

-

-£616,445

-274%

£354,326

999.9%

£13,026

 

Miscellaneous

 

Date Of Accounts

31/12/09

(%)

31/12/08

(%)

31/12/07

(%)

31/12/06

(%)

31/12/05

Contingent Liability

YES

-

YES

-

NO

-

NO

-

NO

Capital Employed

-£543,246

-532.5%

£125,612

-79.3%

£606,369

-37.7%

£973,479

-21.8%

£1,244,235

Number of Employees

48

-47.8%

92

-9.8%

102

9.7%

93

29.2%

72

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

 

 

Ratios

 

Date Of Accounts

31/12/09

31/12/08

31/12/07

31/12/06

31/12/05

Pre-tax profit margin %

-11.39

-5.43

-

-

-

Current ratio

0.72

0.85

0.96

1.11

1.25

Sales/Net Working Capital

-3.73

-11.93

-

-

-

Gearing %

-213.50

-685

337.80

84.20

126.30

Equity in %

-18.30

-3.80

7

19.50

22.90

Creditor Days

50.41

66.46

-

-

-

Debtor Days

7.75

37.60

-

-

-

Liquidity/Acid Test

0.40

0.33

0.63

0.75

0.77

Return On Capital Employed %

109.89

-479.59

-43.14

7.70

-7.26

Return On Total Assets Employed %

-13.29

-9.41

-5.05

1.99

-2.51

Current Debt Ratio

-6.11

-25.75

12.61

3.81

2.86

Total Debt Ratio

-6.45

-27.27

13.29

4.14

3.38

Stock Turnover Ratio %

30.23

29.19

-

-

-

Return on Net Assets Employed %

72.56

247.38

-72.22

10.24

-10.99

 

 

 

Status History

 

No Status History found

 

Event History

 

Date

Description

16/02/2011

Annual Returns

15/02/2011

Change in Reg.Office

15/02/2011

Change of Company Postcode

28/09/2010

New Accounts Filed

28/09/2010

New Accounts Filed

17/03/2010

Annual Returns

17/02/2010

Annual Returns

09/10/2009

New Company Secretary Ms M.K. Monroe appointed

09/10/2009

New Board Member Ms M.K. Monroe appointed

09/10/2009

New Board Member Mr D.V. Monroe appointed

23/07/2009

New Accounts Filed

23/07/2009

New Accounts Filed

06/07/2009

Mr J.D. McCall has left the board

26/02/2009

Annual Returns

21/05/2008

New Accounts Filed

 

 

Limit History

 

Date

Limit

28/09/2010

£0

04/09/2010

£500

17/02/2010

£0

16/02/2010

£500

23/07/2009

£500

03/03/2009

£14,000

21/05/2008

£12,000

08/10/2007

£60,000

12/02/2007

£60,000

25/01/2007

£0

 

 

Previous Company Names

 

Date

Previous Name

Companies House Documents

17/09/2001

SMILEY AND MONROE LIMITED

01/01/2000

MOYNE SHELF COMPANY (NO. 17) LIMITED

01/01/1950

MOYNE SHELF COMPANY (NO. 17) LIMITED

01/01/1800

MOYNE SHELF COMPANY (NO. 17) LIMITED

 

 

Group Structure Summary

 

Company Name

SMILEY MONROE LIMITED

Company Number

NI020012

Holding Company

SMILEY MONROE HOLDINGS LIMITED

Ownership Status

Intermediately 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



 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.52

UK Pound

1

Rs.72.72

Euro

1

Rs.64.41

 

 

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.