MIRA INFORM REPORT

 

 

Report Date :           

17.08.2011

 

IDENTIFICATION DETAILS

 

Name :

TINYWEAR LIMITED

 

 

Registered Office :

Cavan Road, Oldcastle

 

 

Country :

Ireland

 

 

Financials (as on) :

31.10.2010

 

 

Date of Incorporation :

23.10.1985

 

 

Com. Reg. No.:

E0110307

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

The distribution of children's clothing.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Ireland

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

Company name & address 

 

Tinywear Limited

Cavan Road

Oldcastle

Ireland

 

 

Synthesis  

           

Employees:                  NA

Company Type:            Private Independent

Incorporation Date:         23-Oct-1985

Auditor:                        OCC    

Financials in:                 USD (Millions)

Fiscal Year End:            31-Oct-2010

Reporting Currency:       Euro

Annual Sales:               NA

Total Assets:                 3.5

 

 

Business Description     

 

The distribution of children's clothing.

 

Industry

Industry            Apparel and Accessories

ANZSIC 2006:    3712 - Clothing and Footwear Wholesaling

NACE 2002:      5115 - Agents involved in the sale of furniture, household goods, hardware and ironmongery

NAICS 2002:     424330 - Women's, Children's, and Infants' Clothing and Accessories Merchant Wholesalers

UK SIC 2003:    51422 - Wholesale of children's and infants' clothing

US SIC 1987:    5137 - Women's, Children's, and Infants' Clothing and Accessories

 

           

Key Executives   

 

Name

Title

Patrick (Snr) Mullen

Secretary, Director

Patrick Jnr. Mullen

Director

Brian Mullen

Director

 

 

Registered No.(IRE): E0110307

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7440097

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7194762

 

 

Corporate Overview

 

Location

Cavan Road

Oldcastle

Co. Meath County

Ireland

           

Sales EUR(mil):             NA

Assets EUR(mil):           2.5

Employees:                   NA

Fiscal Year End:            31-Oct-2010

Industry:                        Apparel and Accessories

Incorporation Date:         23-Oct-1985

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(IRE):      E0110307

Secretary, Director:        Patrick (Snr) Mullen

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Subsidiaries

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

3712     -          Clothing and Footwear Wholesaling

 

NACE 2002 Codes:

5115     -          Agents involved in the sale of furniture, household goods, hardware and ironmongery

 

NAICS 2002 Codes:

424330  -          Women's, Children's, and Infants' Clothing and Accessories Merchant Wholesalers

 

US SIC 1987:

5137     -          Women's, Children's, and Infants' Clothing and Accessories

 

UK SIC 2003:

51422   -          Wholesale of children's and infants' clothing

 

Business Description

The distribution of children's clothing.

 

Financial Data

Financials in:

EUR(mil)

 

Assets:

2.5

Total Liabilities:

0.3

 

Working Capital:

1.5

 

Net Worth:

2.2

 

 

 

Date of Financial Data:

31-Oct-2010

 

1 Year Growth

NA

 

Subsidiaries

Company

Percentage Owned

Country

Plus 1 Clothing Limited

 

Ireland

 

 

 

 

Key Corporate Relationships

Auditor:

OCC

 

Auditor:

OCC

 

 

 

 

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Patrick (Snr) Mullen

 

Secretary, Director

Director/Board Member

 

Patrick Jnr. Mullen

 

Director

Director/Board Member

 

Brian Mullen

 

Director

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Patrick (Snr) Mullen

 

Secretary, Director

Company Secretary

 

Annual Profit & Loss

 

 

 

 

31-Oct-2008

31-Oct-2007

31-Oct-2006

Period Length

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.670545

0.744418

0.810249

Consolidated

No

No

No

 

 

 

 

Gross Profit

1.7

1.9

0.7

Operating Profit

0.3

0.6

0.4

Non Trading Income

-0.3

0.1

0.1

Interest Expenses

0.0

0.0

0.0

Pretax Profit

-0.1

0.8

0.4

Taxation

0.0

0.1

0.1

Profit after Tax

-0.1

0.6

0.4

Dividends Payable

0.1

0.0

0.0

Retained Profits

-0.2

0.6

0.4

Value Added

1.1

1.3

1.0

Wages And Salaries

0.7

0.6

0.5

Directors’ Emoluments

0.2

0.2

0.3

Auditors Fees

0.0

0.0

0.0

Depreciation

0.0

0.0

0.0

Number of Employees

17

18

18

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

                                                                               

 

 

31-Oct-2010

31-Oct-2008

31-Oct-2007

31-Oct-2006

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate

0.719476

0.788612

0.691204

0.783484

Consolidated

No

No

No

No

 

 

 

 

 

Tangible Assets

1.0

0.3

0.4

0.3

Total Fixed Assets

1.0

0.3

0.4

0.3

Stocks

-

-

0.1

0.2

Trade Debtors

-

0.2

0.4

1.3

Cash

2.2

2.5

3.3

1.8

Miscellaneous Current Assets

0.3

0.2

0.0

0.1

Other Current Assets

2.5

2.7

3.3

1.8

Total Current Assets

2.5

2.9

3.8

3.4

Total Assets

3.5

3.2

4.2

3.7

Net assets

3.1

2.5

3.0

2.1

Total Current Liabilities

0.4

0.6

1.2

1.6

Total Debt

-

0.0

0.0

0.0

Total Liabilities

0.4

0.6

1.2

1.6

Share Capital And Other Reserves

0.2

0.2

0.2

0.2

Profit & Loss Account Reserve

2.2

2.4

2.9

1.9

Revaluation Reserve

0.7

-

-

-

Shareholders Funds

3.1

2.5

3.0

2.1

Capital Employed

3.1

2.5

3.0

2.1

Net Worth

3.1

2.5

3.0

2.1

Working Capital

2.1

2.2

2.7

1.8

Fixed Assets

-

0.3

0.4

0.3

Liquid Assets

2.5

2.9

3.7

3.2

Trade Creditors

-

0.5

1.0

1.1

Bank Overdraft

-

0.0

0.0

0.0

Miscellaneous Current Liabilities

0.4

0.1

0.2

0.5

    Other Short Term Finance

-

-

0.0

-

Other Current Liabilities

-

0.1

0.2

0.5

Short Term Loans

-

0.0

0.0

0.0

Called Up Share Capital

-

0.2

0.2

0.2

Sundry Reserves (incl. Grants)

-

0.0

0.0

0.0

 

 

Annual Cash Flows

 

Financials in: USD (mil)

 

 

 

31-Oct-2010

31-Oct-2008

31-Oct-2007

31-Oct-2006

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate (Period Average)

0.74401

0.670545

0.744418

0.810249

Consolidated

No

No

No

No

 

 

 

 

 

Net Cashflow From Operating Activities

-

0.0

1.3

0.3

Net Cashflow From ROI & Servicing Of Finance

-

0.1

0.1

0.1

Net Cashflow Before Financing

-

0.0

1.2

0.1

Increase In Cash

-

0.0

1.2

0.1

Net Cash

2.2

2.9

3.1

1.7

 

 

Annual Ratios

 

 

 

31-Oct-2006

Period Length

52 Weeks

Filed Currency

-

Exchange Rate

-

Consolidated

No

 

 

Current Ratio

2.15

Liquidity Ratio

1.99

Net Worth / Total Liabilities

132.66%

Long Term Liab. / Net Worth

0.00

Pretax Profit / Capital Employed

20.79%

Pretax Profit / Total Assets

11.85%

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.25

UK Pound

1

Rs.73.88

Euro

1

Rs.65.06

 

 

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

----

NB

New Business

----

 

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.