MIRA INFORM REPORT

Report Date :

14.06.2011

IDENTIFICATION DETAILS

Name :	ZEUS PACKAGING GROUP LIMITED

Registered Office :	500 Grants Row, Greenogue Distribution Centre, Rathcoole, Co Dublin

Country :	Ireland

Financials (as on) :	31.12.2010

Date of Incorporation :	11.01.2007

Com. Reg. No.:	IE432818

Legal Form :	Single Member Private Company Limited By Shares

Line of Business :	sale and distribution of packaging material to sectors ranging from small business to pharmaceutical companies, food processing industries and major retail industrial outlets.

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 :	470,000 EUR
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 Summary
Company Name	ZEUS PACKAGING GROUP LIMITED
Company Number	IE432818
Telephone Number
Address	500 GRANTS ROW, GREENOGUE DISTRIBUTION CENTRE, RATHCOOLE, CO DUBLIN
Town Code	999930
Company Type	SINGLE MEMBER PRIVATE COMPANY LIMITED BY SHARES
Incorporation Date	11/01/2007

CREDIT RECOMENDATION

Current Credit Limit: 470,000 EUR

DIRECTORS/MANAGEMENT

Director Summary
Directorships	3
Total Directorships	13

Directors

Director
Directors Title
Name of Director	GAVIN MCCARTHY
Address of Director	4 CASTLEROCK GROVE, CASTLECONNELL, CO. LIMERICK
Postcode of Director
Date of Birth	18/04/1972
Nationality of Director
Director Honours
Present Appointments	3
Function	Director
Appointment Date	16/10/2009

Director
Directors Title
Name of Director	BRIAN O'SULLIVAN
Address of Director	12 WATERGOLD, DOUGLAS, CORK
Postcode of Director
Date of Birth
Nationality of Director
Director Honours
Present Appointments	1
Function	Company Secretary
Appointment Date	16/10/2009

Director
Directors Title
Name of Director	BRIAN O'SULLIVAN
Address of Director	6, MILTOWN MANORS,, MONALEEN,, CASTLETROY,, LIMERICK.
Postcode of Director
Date of Birth	09/10/1969
Nationality of Director
Director Honours
Present Appointments	9
Function	Director
Appointment Date	11/01/2007

NEGATIVE INFORMATION

CCJ Summary

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

SHARE & SHARE CAPITAL INFORMATION

Shareholders information
Shares Held	2,892
Currency of Share	EUR

Name of Shareholder	BRIAN O'SULLIVAN
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

Ultimate Parent Company Name
Parent Company Name	ZEUS PACKAGING GROUP LIMITED
Number of company in Group	9
Company Name	Company Number	Accounts Date
ZEUS PACKAGING GROUP LIMITED	IE432818	31/12/2010
OMEGA PACKAGING LIMITED	IE361727	31/12/2010
ZEUS PACKAGING LIMITED	IE257357	31/12/2010
-ZEUS PACKAGING INVESTMENTS (UK) LIMITED	06052597	31/12/2009
-ALL PURPOSE PACKAGING LIMITED	02732188	31/12/2009
FILLMORE PACKAGING LIMITED	00553909	31/12/2009
-SARCON (NO. 233) LIMITED	NI062565	31/12/2009
ZEUS PACKAGING (NI) LIMITED	NI003483	31/12/2010
ZEUS PACKAGING (UK) LIMITED	04145121	31/12/2010

FINANCIAL INFORMATION

Financial Information
Date	31/12/2010	%	31/12/2009	%	31/12/2008
Currency	NaN		NaN		NaN
Turnover	72,676,203	5.7%	68,746,117	-3.6%	71,286,477
Shareholder Equity	13,099,704	10.1%	11,897,592	-1.8%	12,110,082
Number of employees	203	-	220	-	227

Accounts & Ratios

Period
Date From	01/01/2010	%	01/01/2009	%	02/01/2008
Date To	31/12/2010	-	31/12/2009	-	31/12/2008
Period of Month	12	-	12	-	12
Currency	EUR	-	EUR	-	EUR
Profit & Loss
Consolidated Accounts	Y	-	Y	-	Y
Turnover	72,676,203	5.7%	68,746,117	-3.6%	71,286,477
Export	-	-	-	-	-
Cost of Sales	53,885,032	8.5%	49,682,353	-7.1%	53,467,435
Gross Profit	18,791,171	-1.4%	19,063,764	7.0%	17,819,042
Operating Profit	3,018,651	17.2%	2,575,492	16.2%	2,217,260
Pre-Tax Profit	2,059,717	30.2%	1,581,704	81.9%	869,654
Tax	-685,335	-11.1%	-617,000	-111.1%	-292,212
Post-Tax Profit	1,374,382	42.5%	964,704	67.1%	577,442
Dividends	0	-	0	-	0
Retained Profit	1,373,126	56.0%	880,473	259.8%	244,738
Interest Payable	960,100	-3.4%	994,394	-27.5%	1,371,126
Directors Remuneration	194,162	-7.3%	209,382	-8.6%	229,118
Wages & Salaries	7,170,949	8.2%	6,627,266	-11.1%	7,451,576
Depreciation of Tangibles	651,242	-11.8%	738,779	12.9%	654,554
Auditor Fees	46,000	0.0%	46,000	-16.4%	55,000

Capitals & Reserves
Called up Share Capital	2,892	0.0%	2,892	0.0%	2,892
P&L Account Reserve	4,114,258	50.1%	2,741,132	47.3%	1,860,659
Sundry Reserves	8,982,554	-1.9%	9,153,568	-10.7%	10,246,531
Revaluation Reserve	0	-	0	-	0
Shareholder Funds	13,099,704	10.1%	11,897,592	-1.8%	12,110,082
Net Worth	-10,105,852	21.3%	-12,842,447	20.6%	-16,165,193

Miscellaneous
Net Cashflow from Operations	3,635,873	-63.8%	10,030,893	665.0%	1,311,308
Net Cashflow before Financing	-1,318,852	74.7%	-5,207,851	-134.6%	15,032,091
Net Cashflow from Financing	-1,318,852	74.7%	-5,207,851	-134.6%	15,032,091
Capital Employed	25,555,579	-7.3%	27,580,333	-9.6%	30,505,309
No of Employees	203	-7.7%	220	-3.1%	227

Balance Sheet
Tangible Assets	1,903,309	-25.1%	2,540,608	-14.5%	2,972,556
Intangible Assets	23,205,556	-6.2%	24,740,039	-12.5%	28,275,275
Total Fixed Assets	25,108,865	-8.0%	27,280,647	-12.7%	31,247,831
Stocks & Work-in-Progress	8,556,700	18.7%	7,207,550	-29.5%	10,216,253
Debtors
- Trade Debtors	14,675,704	13.2%	12,958,764	-20.5%	16,307,145
Cash	808,145	-11.4%	911,724	51.6%	601,476
Misc. Current Assets	0	-	0	-	0
Total Current Assets
Creditors
- Trade Creditors	8,926,106	19.1%	7,492,503	-7.3%	8,083,719
- Bank Overdraft	11,945,246	22.6%	9,739,864	-29.4%	13,803,427
Increase in Cash	-103,579	-133.4%	310,248	-	0
Total Current Liabilities	24,522,034	14.1%	21,492,388	-25.6%	28,898,913
Other Short Term Loans	688,155	-7.6%	744,383	11.2%	669,632
Miscellaneous Current Liabilities	2,962,527	-15.7%	3,515,638	-44.6%	6,342,135
Other Long Term Finance	86,238	-73.3%	323,573	-36.9%	512,994
Total Long Term Liabilities	12,455,875	-20.6%	15,682,741	-14.7%	18,395,227
Overdraft Long Term Liabilites	24,401,121	-4.0%	25,422,605	-21.0%	32,198,654
Liabilities	36,977,909	-0.5%	37,175,129	-21.4%	47,294,140
Net Assets	13,099,704	10.1%	11,897,592	-1.8%	12,110,082
Working Captial	446,714	49.1%	299,686	140.4%	-742,522
Current Assets	24,968,748	14.6%	21,792,074	-22.6%	28,156,391
Other Current Assets	928,199	30.0%	714,036	-30.8%	1,031,517

Ratios
Date To	31/12/2010	%	31/12/2009	%	31/12/2008
Trading Performance
Pre-Tax Profit Margin	2.8 %	-	2.3 %	-	1.2 %
Return on Capital Employed	8.1 %	-	5.7 %	-	2.9 %
Return on Total Assets Employed	4.1 %	-	3.2 %	-	1.5 %
Return on Net Assets Employed	15.7 %	-	13.3 %	-	7.2 %
Sales/Net Working Capital	162.69	-	229.39	-	-96.01
Operating Efficiency
Stock Turnover Ratio	11.8 %	-	10.5 %	-	14.3 %
Debtor Days	73.71	-	68.80	-	83.50
Creditor Days	44.83	-	39.78	-	41.39
Short Term Stability
Current Ratio	1.02	-	1.01	-	0.97
Liquidity Ratio/Acid Ratio	0.66	-	0.67	-	0.62
Current Debt Ratio	1.9 %	-	1.8 %	-	2.4 %
Long Term Stability
Gearing	186.3 %	-	213.7 %	-	265.9 %
Equity in Percentage	48.7 %	-	48.9 %	-	38.9 %
Total Debt Ratio	2.8 %	-	3.1 %	-	3.9 %

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Auditor/Banker's Information
Auditor Name	DELOITTE & TOUCHE
Auditor Qualification	No Adverse Comments
Banker Name	NATIONAL IRISH BANK
Banker Sort Code	95-16-87

Other Information
Website Address
Incorporation Date	11/01/2007
Company Type	SINGLE MEMBER PRIVATE COMPANY LIMITED BY SHARES
Type of Accounts	Group
Date of Latest Accounts	31/12/2010
Filing Date of Accounts
Annual Return Date	08/04/2011

Industry Information
Industry Description	A group engaged in the sale and distribution of packaging material to sectors ranging from small business to pharmaceutical companies, food processing industries and major retail industrial outlets.

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
04/05/2011	New Accounts Filed
04/05/2011	New Accounts Filed
03/05/2011	Annual Returns
11/11/2010	New Accounts Filed
11/11/2010	New Accounts Filed
10/11/2010	Annual Returns
26/01/2010	New Accounts Filed
16/10/2009	CATHERINE CANTWELL has left the board
16/10/2009	CATHERINE CANTWELL has resigned as company secretary
16/10/2009	GERRY GRIFFIN has left the board
16/10/2009	New Board Member (GAVIN MCCARTHY) appointed
16/10/2009	New Company Secretary (BRIAN O'SULLIVAN) appointed
09/10/2009	Annual Returns
02/12/2008	Annual Returns
30/11/2008	Annual Returns
30/11/2008	Annual Returns
28/11/2008	Annual Returns
27/11/2008	Annual Returns
26/11/2008	Annual Returns
25/11/2008	Annual Returns
25/11/2008	New Accounts Filed
09/08/2008	BRIAN O'SULLIVAN has resigned as company secretary
09/08/2008	New Board Member (CATHERINE CANTWELL) appointed
09/08/2008	New Company Secretary (CATHERINE CANTWELL) appointed
03/08/2008	Annual Returns

Status History
No status history for this company.

Image Accounts

Accounts Images
31-12-2010	view document
31-12-2009	view document
31-12-2008	view document
31-12-2007	view document
31-12-2007	view document

Returns Images
31-12-2010	view document
31-12-2009	view document
31-12-2008	view document
23-07-2008	view document
31-12-2007	view document
31-12-2007	view document
31-12-2007	view document
02-10-2007	view document

Other Images
28-10-2009	B10 CHANGE IN DIRS/SEC	view document
22-10-2009	B2 CHANGE IN SITUATION OF REG OFFICE.	view document
15-10-2009	CERTIFICATE	view document
15-10-2009	AMENDED MEMORANDUM AND ARTICLES.	view document
21-08-2008	B10 CHANGE IN DIRS/SEC	view document
24-07-2008	B77 AUTHORISE AGENT	view document
23-07-2008	B73 REQUEST TO CHANGE A COMPANYS NARD	view document
18-07-2008	CERTIFICATE	view document
18-07-2008	C1 MORT/ CHARGE CREATED BY IRISH COMPANY	view document
02-10-2007	B10 CHANGE IN DIRS/SEC	view document
08-01-2007	MEMORANDUM AND ARTICLES	view document

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.87
UK Pound	1	Rs.72.83
Euro	1	Rs.64.37

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	ZEUS PACKAGING GROUP LIMITED
Company Number	IE432818
Registered Office Address	500 GRANTS ROWGREENOGUE DISTRIBUTION CENTRERATHCOOLECO DUBLIN
Registered Office Post Code	999930
Registered Telephone No.
TPS Registered	N
Trading Address
Trading Postal Code
Trading Telephone Number
TPS Registered