MIRA INFORM REPORT

Report Date :

02.07.2011

IDENTIFICATION DETAILS

Name :	WOGANS FURNITURE WAREHOUSES LIMITED

Registered Office :	Dundalk Logistics Park, Dublin Road, Dundalk, Co Louth 216410

Country :	Ireland

Financials (as on) :	30.06.2010

Date of Incorporation :	03.01.1977

Legal Form :	Private Limited By Shares

Line of Business :	The Sale of Furniture.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	100,000€
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 – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Ireland

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

REGISTERED NAME & COMPANY SUMMARY

Company Summary
Company Name	WOGANS FURNITURE WAREHOUSES LIMITED
Company Number	IE057562
Telephone Number
Address	DUNDALK LOGISTICS PARK, DUBLIN ROAD, DUNDALK, CO LOUTH
Town Code	216410
Company Type	PRIVATE LIMITED BY SHARES
Incorporation Date	03/01/1977

CREDIT recommendation

Current Credit Limit: 100,000€

DIRECTORS/MANAGEMENT

Director Summary
Directorships	4
Total Directorships	23

Directors

Director
Directors Title
Name of Director	JOHN WOGAN
Address of Director	GLYDE COURT,, CASTLEBELLINGHAM,, CO. LOUTH.
Postcode of Director
Date of Birth	06/07/1943
Nationality of Director
Director Honours
Present Appointments	5
Function	Director
Appointment Date	23/06/1978

Director
Directors Title
Name of Director	ALAN WOGAN
Address of Director	14 HAMILTON DRIVE, BLACKROCK, CO. LOUTH
Postcode of Director
Date of Birth	09/07/1971
Nationality of Director
Director Honours
Present Appointments	8
Function	Company Secretary
Appointment Date	02/09/2005

Director
Directors Title
Name of Director	ALAN WOGAN
Address of Director	14 HAMILTON DRIVE, BLACKROCK, CO. LOUTH
Postcode of Director
Date of Birth	09/07/1971
Nationality of Director
Director Honours
Present Appointments	8
Function	Director
Appointment Date	16/11/2004

Director
Directors Title
Name of Director	NORA WOGAN
Address of Director	GLYDE COURT, CASTLEBELLINGHAM, CO LOUTH
Postcode of Director
Date of Birth	19/06/1947
Nationality of Director
Director Honours
Present Appointments	2
Function	Director
Appointment Date	23/06/1978

CCJ Summary

CCJ Summary
CCJ's Amount	0
CCJ's Value (€)	0
Writs	0

SHARE & SHARE CAPITAL INFORMATION

Shareholders information
Shares Held	127
Currency of Share	EUR

Name of Shareholder	JOHN WOGAN
Nominal Value of each Share
Currency of Share	EUR

PAYMENT INFORMATION

Record of Payments

No record of payments for company.

GROUP STRUCTURE & AFFILIATED COMPANIES

Group Structure

No Group Structure for this company.

FINANCIAL INFORMATION

Financial Information
Date	30/06/2010	%	30/06/2009	%	30/06/2008
Currency	NaN		NaN		NaN
Turnover	0	-	0	-	0
Shareholder Equity	2,141,502	-10.1%	2,381,284	-7.3%	2,570,154
Number of employees	0	-	21	-	25

Accounts & Ratios

Period
Date From	01/07/2009	%	01/07/2008	%	02/07/2007
Date To	30/06/2010	-	30/06/2009	-	30/06/2008
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	-	-	-	-	1,537,648
Operating Profit	-	-	-	-	53,469
Pre-Tax Profit	0	-	0	-100.0%	75,170
Tax	-	-	-	-	-16,347
Post-Tax Profit	-	-	-	-	58,823
Dividends	-	-	-	-	0
Retained Profit	-	-	-	-	58,823
Interest Payable	-	-	-	-	4,111
Directors Remuneration	-	-	149,894	-5.7%	159,021
Wages & Salaries	0	-100.0%	633,100	-12.1%	720,626
Depreciation of Tangibles	70,990	0.0%	70,991	-4.3%	74,201
Auditor Fees	0	-	0	-100.0%	14,000

Capitals & Reserves
Called up Share Capital	127	0.0%	127	0.0%	127
P&L Account Reserve	2,141,375	-10.1%	2,381,157	-7.3%	2,570,027
Sundry Reserves	0	-	0	-	0
Revaluation Reserve	0	-	0	-	0
Shareholder Funds	2,141,502	-10.1%	2,381,284	-7.3%	2,570,154
Net Worth	2,141,502	-10.1%	2,381,284	-7.3%	2,570,154

Miscellaneous
Net Cashflow from Operations	0	-	0	-100.0%	226,441
Net Cashflow before Financing	0	-	0	-	0
Net Cashflow from Financing	0	-	0	-	0
Capital Employed	2,141,502	-10.1%	2,381,284	-7.6%	2,576,066
No of Employees	0	-100.0%	21	-16.0%	25

Balance Sheet
Tangible Assets	1,435,535		-4.7%		1,506,526	-4.0%	1,568,817
Intangible Assets	0		-		0	-	0
Total Fixed Assets	1,435,535		-4.7%		1,506,526	-4.0%	1,568,817
Stocks & Work-in-Progress	463,652		-25.4%		621,210	-12.3%	708,537
Debtors
- Trade Debtors	559,358		1,337.9%		38,901	29.1%	30,124
Cash	95,960		-22.6%		124,006	-61.7%	323,971
Misc. Current Assets	0		-		0	-	0
Total Current Assets
Creditors
- Trade Creditors	413,003		31.3%		314,507	-44.6%	567,888
- Bank Overdraft	0		-		0	-100.0%	13,000
Increase in Cash	-28,046		86.0%		-199,965	-	0
Total Current Liabilities	413,003		-8.5%		451,419	-39.3%	743,311
Other Short Term Loans	0		-100.0%		76,314	-11.6%	86,344
Miscellaneous Current Liabilities	0		-100.0%		60,598	-20.3%	76,079
Other Long Term Finance	0		-		0	-100.0%	5,912
Total Long Term Liabilities	0		-		0	-100.0%	5,912
Overdraft Long Term Liabilites	0		-		0	-100.0%	18,912
Liabilities	413,003		-8.5%		451,419	-39.7%	749,223
Net Assets	2,141,502		-10.1%		2,381,284	-7.3%	2,570,154
Working Captial	705,967		-19.3%		874,758	-13.2%	1,007,249
Current Assets	1,118,970		-15.6%		1,326,177	-24.2%	1,750,560
Other Current Assets	0		-100.0%		542,060	-21.2%	687,928
Ratios
Date To		30/06/2010		%	30/06/2009	%	30/06/2008
Trading Performance
Pre-Tax Profit Margin		0.0%		-	0.0%	-	0.0%
Return on Capital Employed		0.0%		-	0.0%	-	2.9 %
Return on Total Assets Employed		0.0%		-	0.0%	-	2.3 %
Return on Net Assets Employed		0.0%		-	0.0%	-	2.9 %
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		2.71		-	2.94	-	2.36
Liquidity Ratio/Acid Ratio		1.58		-	1.56	-	1.40
Current Debt Ratio		0.2 %		-	0.2 %	-	0.3 %
Long Term Stability
Gearing		0.0 %		-	0.0 %	-	0.7 %
Equity in Percentage		83.8 %		-	84.1 %	-	77.4 %
Total Debt Ratio		0.2 %		-	0.2 %	-	0.3 %

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Auditor/Banker's Information
Auditor Name
Auditor Qualification	No Adverse Comments
Banker Name	BANK OF IRELAND
Banker Sort Code	90-31-62

Other Information
Website Address
Incorporation Date	03/01/1977
Company Type	PRIVATE LIMITED BY SHARES
Type of Accounts	Small Company
Date of Latest Accounts	30/06/2010
Filing Date of Accounts
Annual Return Date	31/12/2010

Industry Information
Industry Description	The sale of furniture.

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

Company History

Event History
Date	Description
26/01/2011	Annual Returns
26/01/2011	New Accounts Filed
26/01/2010	Annual Returns
26/01/2010	New Accounts Filed
26/01/2010	New Accounts Filed
21/12/2008	Annual Returns
21/12/2008	New Accounts Filed
29/09/2008	JONATHAN WOGAN has left the board

Status History
No status history for this company.
Director
Directors Title
Name of Director	ALAN WOGAN
Address of Director	14 HAMILTON DRIVE, BLACKROCK, CO. LOUTH
Postcode of Director
Date of Birth	09/07/1971
Nationality of Director
Director Honours
Present Appointments	8
Function	Director
Appointment Date	16/11/2004

Director
Directors Title
Name of Director	NORA WOGAN
Address of Director	GLYDE COURT, CASTLEBELLINGHAM, CO LOUTH
Postcode of Director
Date of Birth	19/06/1947
Nationality of Director
Director Honours
Present Appointments	2
Function	Director
Appointment Date	23/06/1978

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.58
UK Pound	1	Rs.71.75
Euro	1	Rs.64.80

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.

Address Information
Company Name	WOGANS FURNITURE WAREHOUSES LIMITED
Company Number	IE057562
Registered Office Address	DUNDALK LOGISTICS PARKDUBLIN ROADDUNDALKCO LOUTH
Registered Office Post Code	216410
Registered Telephone No.
TPS Registered	N
Trading Address
Trading Postal Code
Trading Telephone Number
TPS Registered