MIRA INFORM REPORT

Report Date :

08.06.2011

IDENTIFICATION DETAILS

Name :	ATHLONE EXTRUSIONS LIMITED

Registered Office :	Grace Road, Athlone, Cowestmeath, Co.Westmeath, Town Code 28406

Country :	Ireland

Financials (as on) :	30.09.2009

Date of Incorporation :	29.09.1988

Com. Reg. No.:	IE135804

Legal Form :	Private limited by shares

Line of Business :	Manufacture and sale of plastics products

RATING & COMMENTS

MIRA’s Rating :

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 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

Company Summary

Company Summary
Company Name	ATHLONE EXTRUSIONS LIMITED
Company Number	IE135804
Telephone Number	0906492679
Address	GRACE ROAD, ATHLONE, COWESTMEATH, CO.WESTMEATH
Town Code	28406
Company Type	PRIVATE LIMITED BY SHARES
Incorporation Date	29/09/1988

Company Status Summary
Company Status	Active - Accounts Filed
Limit (€)	260,000
Active CCJ's	0
Value of CCJ's (€)	0
Writs	0

Director Summary
Directorships	4
Total Directorships	41

Financial Information
Date	30/09/2009	%	30/09/2008	%	30/09/2007
Currency	NaN		NaN		NaN
Turnover	35,471,000	-38.8%	57,997,000	-4.0%	60,384,000
Shareholder Equity	20,884,000	-5.8%	22,174,000	2.6%	21,618,000
Number of employees	143	-	171	-	167

Accounts & Ratios

Period
Date From	01/10/2008	%	02/10/2007	%	01/10/2006
Date To	30/09/2009	-	30/09/2008	-	30/09/2007
Period of Month	12	-	12	-	12
Currency	EUR	-	EUR	-	EUR

Profit & Loss
Consolidated Accounts	N	-	N	-	N
Turnover	35,471,000	-38.8%	57,997,000	-4.0%	60,384,000
Export	32,497,000	-39.6%	53,807,000	-	-
Cost of Sales	30,330,000	-36.4%	47,676,000	-2.8%	49,035,000
Gross Profit	5,141,000	-50.2%	10,321,000	-9.1%	11,349,000
Operating Profit	-1,390,000	-175.5%	1,842,000	-35.4%	2,852,000
Pre-Tax Profit	-1,485,000	-176.6%	1,938,000	-34.0%	2,938,000
Tax	1,038,000	8,084.6%	-13,000	81.7%	-71,000
Post-Tax Profit	-447,000	-123.2%	1,925,000	-32.9%	2,867,000
Dividends	0	-	0	-	0
Retained Profit	-447,000	-123.2%	1,925,000	-32.9%	2,867,000
Interest Payable	658,000	2.0%	645,000	5.4%	612,000
Directors Remuneration	-	-	-	-	-
Wages & Salaries	7,253,000	-30.5%	10,442,000	15.4%	9,047,000
Depreciation of Tangibles	1,533,000	-3.6%	1,591,000	-0.3%	1,596,000
Auditor Fees	30,000	-33.3%	45,000	0.0%	45,000

Capitals & Reserves
Called up Share Capital	361,000	0.0%	361,000	0.0%	361,000
P&L Account Reserve	6,940,000	-15.7%	8,230,000	7.7%	7,642,000
Sundry Reserves	13,583,000	0.0%	13,583,000	-0.2%	13,615,000
Revaluation Reserve	0	-	0	-	0
Shareholder Funds	20,884,000	-5.8%	22,174,000	2.6%	21,618,000
Net Worth	20,884,000	-5.8%	22,174,000	2.6%	21,618,000

Miscellaneous
Net Cashflow from Operations	0	-	0	-	0
Net Cashflow before Financing	0	-	0	-	0
Net Cashflow from Financing	0	-	0	-	0
Capital Employed	73,337,000	0.0%	73,346,000	6.3%	69,017,000
No of Employees	143	-16.4%	171	2.4%	167

Balance Sheet
Tangible Assets	35,632,000	-3.1%	36,765,000	-1.8%	37,420,000
Intangible Assets	0	-	0	-	0
Total Fixed Assets	35,632,000	-3.1%	36,765,000	-1.8%	37,420,000
Stocks & Work-in-Progress	3,619,000	-45.8%	6,683,000	8.5%	6,162,000
Debtors
- Trade Debtors	8,320,000	-33.7%	12,548,000	-10.2%	13,973,000
Cash	61,000	-37.1%	97,000	-36.6%	153,000
Misc. Current Assets	0	-	0	-	0
Total Current Assets
Creditors
- Trade Creditors	542,000	-44.7%	980,000	42.6%	687,000
- Bank Overdraft	757,000	-19.4%	939,000	-20.7%	1,184,000
Increase in Cash	-36,000	35.7%	-56,000	-	0
Total Current Liabilities	5,103,000	-21.2%	6,475,000	3.8%	6,239,000
Other Short Term Loans	30,000	-25.0%	40,000	14.3%	35,000
Miscellaneous Current Liabilities	3,774,000	-16.4%	4,516,000	4.2%	4,333,000
Other Long Term Finance	47,843,000	2.9%	46,477,000	6.8%	43,529,000
Total Long Term Liabilities	52,453,000	2.5%	51,172,000	8.0%	47,399,000
Overdraft Long Term Liabilities	53,210,000	2.1%	52,111,000	7.3%	48,583,000
Liabilities	57,556,000	-0.2%	57,647,000	7.5%	53,638,000
Net Assets	20,884,000	-5.8%	22,174,000	2.6%	21,618,000
Working Capital	37,705,000	3.1%	36,581,000	15.8%	31,597,000
Current Assets	42,808,000	-0.6%	43,056,000	13.8%	37,836,000
Other Current Assets	30,808,000	29.8%	23,728,000	35.2%	17,548,000

Ratios
Date To	30/09/2009	%	30/09/2008	%	30/09/2007
Trading Performance
Pre-Tax Profit Margin	-4.2 %	-	3.3 %	-	4.9 %
Return on Capital Employed	-2.0 %	-	2.6 %	-	4.3 %
Return on Total Assets Employed	-1.9 %	-	2.4 %	-	3.9 %
Return on Net Assets Employed	-7.1 %	-	8.7 %	-	13.6 %
Sales/Net Working Capital	0.94	-	1.59	-	1.91
Operating Efficiency
Stock Turnover Ratio	10.2 %	-	11.5 %	-	10.2 %
Debtor Days	85.61	-	78.97	-	84.46
Creditor Days	5.58	-	6.17	-	4.15
Short Term Stability
Current Ratio	8.39	-	6.65	-	6.06
Liquidity Ratio/Acid Ratio	7.67	-	5.61	-	5.08
Current Debt Ratio	0.2 %	-	0.3 %	-	0.3 %
Long Term Stability
Gearing	254.8 %	-	235.0 %	-	224.7 %
Equity in Percentage	26.6 %	-	27.8 %	-	28.7 %
Total Debt Ratio	2.8 %	-	2.6 %	-	2.5 %

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	ATHLONE EXTRUSIONS INVESTMENT MANAGEMENT
Number of company in Group	10
Company Name	Company Number	Accounts Date
ATHLONE EXTRUSIONS INVESTMENT MANAGEMENT	IE374288	30/09/2009
-ATHLONE EXTRUSIONS LIMITED	IE135804	30/09/2009
ATHLONE EXTRUSIONS (U.K.) LIMITED	01831340	30/09/2009
ATHLONE EXTRUSIONS (HOLDINGS) LIMITED	IE090397	30/09/2009
ATHLONE EXTRUSIONS (EXPORTS) LIMITED	IE114578	30/09/2009
-ATHLONE EXTRUSIONS IRELAND LIMITED	IE116752	30/09/2009
ATHLONE EXTRUSIONS (FILM) LIMITED	IE231017	30/09/2009
ATHLONE EXTRUSIONS (DEVELOPMENT) LIMITED	IE179222	30/09/2009
ATHLONE EXTRUSIONS (ABS)	IE213894	30/09/2009
ATHLONE EXTRUSIONS (NOMINEES) LIMITED	IE390282	30/09/2009

Company History

Event History
Date	Description
11/03/2011	Annual Returns
16/04/2010	Annual Returns
16/04/2010	New Accounts Filed
16/04/2010	New Accounts Filed
03/06/2009	Annual Returns
03/06/2009	New Accounts Filed

Status History
No status history for this company.

Directors

Director
Directors Title
Name of Director	PAT LAWLESS
Address of Director	30 SLI AN AIFRINN, ATHLONE, CO WESTMEATH
Postcode of Director
Date of Birth	31/05/1967
Nationality of Director
Director Honours
Present Appointments	9
Function	Company Secretary
Appointment Date	09/08/2005

Director
Directors Title
Name of Director	JAMES MCGEE
Address of Director	PORTLICK, GLASSON, ATHLONE, COUNTY WESTMEATH
Postcode of Director
Date of Birth	22/04/1951
Nationality of Director
Director Honours
Present Appointments	9
Function	Director
Appointment Date	05/10/1988

Director
Directors Title
Name of Director	ENDA CUNNINGHAM
Address of Director	6 BALLYGIHEN AVENUE, SANDYCOVE, CO. DUBLIN, IRELAND
Postcode of Director
Date of Birth	03/11/1963
Nationality of Director
Director Honours
Present Appointments	14
Function	Director
Appointment Date	21/07/1998

Director
Directors Title
Name of Director	JOHN BROWNE
Address of Director	FRIARY ROAD, ROSEBERRY, NEWBRIDGE, CO KILDARE
Postcode of Director
Date of Birth	01/09/1945
Nationality of Director
Director Honours
Present Appointments	9
Function	Director
Appointment Date	21/07/1997

Image Accounts

Accounts Images
30-09-2009
30-09-2008
30-09-2007

Returns Images
04-03-2011
30-09-2009
30-09-2008
30-09-2007

Other Images
04-03-2011	B73 REQUEST TO CHANGE A COMPANYS NARD
07-04-2010	B10 CHANGE IN DIRS/SEC
21-06-2001	CERTIFICATE

Creditsafe CreditNet

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.74
UK Pound	1	Rs.73.25
Euro	1	Rs.65.48

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	ATHLONE EXTRUSIONS LIMITED
Company Number	IE135804
Registered Office Address	GRACE ROADATHLONECOWESTMEATHCO.WESTMEATH
Registered Office Post Code	28406
Registered Telephone No.	0906492679
TPS Registered	Y
Trading Address
Trading Postal Code
Trading Telephone Number
TPS Registered

Auditor/Banker's Information
Auditor Name	KPMG
Auditor Qualification	Adverse Comments
Banker Name	ALLIED IRISH BANK PLC
Banker Sort Code

Other Information
Website Address
Incorporation Date	29/09/1988
Company Type	PRIVATE LIMITED BY SHARES
Type of Accounts	Full Accounts
Date of Latest Accounts	30/09/2009
Filing Date of Accounts
Annual Return Date	10/02/2011

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	250,000
Currency of Share	GBP

Name of Shareholder	ATHLONE EXTRUSIONS INVESTMENT MANAGEMENT LTD
Nominal Value of each Share
Currency of Share	GBP

Industry Information
Industry Description	Manufacture and sale of plastics products.