MIRA INFORM REPORT

Report Date :

22.06.2011

IDENTIFICATION DETAILS

Name :	AV POUND & CO LIMITED

Registered Office :	C/O Moylan Mulcahy & Co, Sarsfield House, Sarsfield Road, Wilton Cork 999937

Country :	Ireland

Financials (as on) :	31.12.2010

Date of Incorporation :	14.12.1999

Com. Reg. No.:	IE317042

Legal Form :	Single Member Private Company Limited By Shares

Line of Business :	The international trading and distribution of industrial chemicals

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 :	(€) 105,000
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

Company Summary

Company Summary
Company Name	AV POUND & CO LIMITED
Company Number	IE317042
Telephone Number
Address	C/O MOYLAN MULCAHY & CO, SARSFIELD HOUSE, SARSFIELD ROAD, WILTON CORK
Town Code	999937
Company Type	SINGLE MEMBER PRIVATE COMPANY LIMITED BY SHARES
Incorporation Date	14/12/1999

Company Status Summary
Company Status	Active - Accounts Filed
Limit (€)	105,000
Active CCJ's	0
Value of CCJ's (€)	0
Writs	0

Director Summary
Directorships	5
Total Directorships	9

Financial Information
Date	31/12/2010	%	31/12/2009	%	31/12/2008
Currency	NaN		NaN		NaN
Turnover	0	-	0	-	0
Shareholder Equity	1,318,380	6.0%	1,244,123	12.5%	1,105,397
Number of employees	11	-	10	-	10

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	N	-	N	-	N
Turnover	0	-	0	-	0
Export	-	-	-	-	-
Cost of Sales	-	-	-	-	-
Gross Profit	714,068	-24.7%	948,740	2.1%	929,280
Operating Profit	85,976	-46.1%	159,397	-69.2%	517,912
Pre-Tax Profit	85,004	-46.2%	158,090	-69.2%	513,817
Tax	-10,746	44.5%	-19,364	68.1%	-60,751
Post-Tax Profit	74,258	-46.5%	138,726	-69.4%	453,066
Dividends	0	-	0	-100.0%	118,473
Retained Profit	74,258	-46.5%	138,726	-58.5%	334,593
Interest Payable	972	-27.5%	1,341	-72.4%	4,857
Directors Remuneration	109,235	4.8%	104,251	24.7%	83,616
Wages & Salaries	292,477	4.0%	281,105	2.6%	273,869
Depreciation of Tangibles	10,996	-50.3%	22,138	-13.4%	25,560
Auditor Fees	11,492	-2.2%	11,750	0.0%	11,750

Capitals & Reserves
Called up Share Capital	100	0.0%	100	0.0%	100
P&L Account Reserve	1,141,280	7.0%	1,067,023	14.9%	928,297
Sundry Reserves	177,000	0.0%	177,000	0.0%	177,000
Revaluation Reserve	0	-	0	-	0
Shareholder Funds	1,318,380	6.0%	1,244,123	12.5%	1,105,397
Net Worth	1,318,380	6.0%	1,244,123	12.5%	1,105,397

Miscellaneous
Net Cashflow from Operations	0	100.0%	-2,840	-100.5%	565,644
Net Cashflow before Financing	0	100.0%	-281,633	-398.4%	94,367
Net Cashflow from Financing	0	100.0%	-281,633	-398.4%	94,367
Capital Employed	1,322,394	-5.7%	1,402,826	-9.3%	1,546,085
No of Employees	11	10.0%	10	0.0%	10

Balance Sheet
Tangible Assets	21,607	-34.4%	32,950	-15.4%	38,928
Intangible Assets	0	-	0	-	0
Total Fixed Assets	21,607	-34.4%	32,950	-15.4%	38,928
Stocks & Work-in-Progress	1,430,758	10.6%	1,293,348	-9.3%	1,425,377
Debtors
- Trade Debtors	1,532,263	52.1%	1,007,479	-43.1%	1,769,666
Cash	326,952	-58.3%	783,325	-39.8%	1,300,826
Misc. Current Assets	10,738	-76.0%	44,773	-	0
Total Current Assets
Creditors
- Trade Creditors	2,051,996	15.1%	1,782,269	-34.7%	2,727,514
- Bank Overdraft	5,977	-	0	-100.0%	112,048
Increase in Cash	-456,373	11.8%	-517,501	-	0
Total Current Liabilities	2,343,997	13.8%	2,059,713	-35.3%	3,183,363
Other Short Term Loans	3,061	13.0%	2,710	14.9%	2,359
Miscellaneous Current Liabilities	282,963	3.0%	274,734	-19.5%	341,442
Other Long Term Finance	4,014	-97.5%	158,703	-64.0%	440,688
Total Long Term Liabilities	4,014	-97.5%	158,703	-64.0%	440,688
Overdraft Long Term Liabilities	9,991	-93.7%	158,703	-71.3%	552,736
Liabilities	2,348,011	5.8%	2,218,416	-38.8%	3,624,051
Net Assets	1,318,380	6.0%	1,244,123	12.5%	1,105,397
Working Capital	1,300,787	-5.0%	1,369,876	-9.1%	1,507,157
Current Assets	3,644,784	6.3%	3,429,589	-26.9%	4,690,520
Other Current Assets	344,073	14.4%	300,664	54.5%	194,651

Ratios
Date To	31/12/2010	%	31/12/2009	%	31/12/2008
Trading Performance
Pre-Tax Profit Margin	0.0%	-	0.0%	-	0.0%
Return on Capital Employed	6.4 %	-	11.3 %	-	33.2 %
Return on Total Assets Employed	2.3 %	-	4.6 %	-	10.9 %
Return on Net Assets Employed	6.4 %	-	12.7 %	-	46.5 %
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	1.55	-	1.67	-	1.47
Liquidity Ratio/Acid Ratio	0.94	-	1.03	-	1.02
Current Debt Ratio	1.8 %	-	1.7 %	-	2.9 %
Long Term Stability
Gearing	0.8 %	-	12.8 %	-	50.0 %
Equity in Percentage	36.0 %	-	35.9 %	-	23.4 %
Total Debt Ratio	1.8 %	-	1.8 %	-	3.3 %

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	HOBART ENTERPRISES LIMITED
Number of company in Group	5
Company Name	Company Number	Accounts Date
HOBART ENTERPRISES LIMITED	ISLE OF MAN
-CHEMOX POUND LIMITED	02782701	31/12/2009
AV POUND & CO LIMITED	IE317042	31/12/2010
-TRADEBASE LIMITED	01153349	31/12/2009
CHEMOX LIMITED	01707005	31/12/2009

Company History

Event History
Date	Description
03/05/2011	Annual Returns
30/04/2011	New Accounts Filed
30/04/2011	New Accounts Filed
17/12/2010	New Board Member (GORDON POUND) appointed
17/05/2010	Annual Returns
17/05/2010	New Accounts Filed
17/05/2010	New Accounts Filed
06/08/2009	Annual Returns
06/08/2009	New Accounts Filed
06/08/2009	New Accounts Filed
26/08/2008	Annual Returns
26/08/2008	New Accounts Filed

Status History
No status history for this company.

Directors

Director
Directors Title
Name of Director	GORDON POUND
Address of Director	23 NEWARK LANE, RIPLEY, SURREY, GU23 6BS
Postcode of Director
Date of Birth	20/07/1968
Nationality of Director
Director Honours
Present Appointments	1
Function	Director
Appointment Date	17/12/2010

Director
Directors Title
Name of Director	DAVID GEORGE BARNBY
Address of Director	DUNBARRY HOUSE, BUTTEVANT, CO CORK
Postcode of Director
Date of Birth	02/05/1962
Nationality of Director
Director Honours
Present Appointments	2
Function	Company Secretary
Appointment Date	03/10/2001

Director
Directors Title
Name of Director	DAVID GEORGE BARNBY
Address of Director	DUNBARRY HOUSE, BUTTEVANT, CO CORK
Postcode of Director
Date of Birth	02/05/1962
Nationality of Director
Director Honours
Present Appointments	2
Function	Director
Appointment Date	03/10/2001

Director
Directors Title
Name of Director	GAVIN WESTLEY
Address of Director	No. 2, Meadowlands,, College Wood,, Mallow,, Co Cork
Postcode of Director
Date of Birth	29/05/1970
Nationality of Director
Director Honours
Present Appointments	3
Function	Director
Appointment Date	02/10/2002

Director
Directors Title
Name of Director	DENIS JOHNSON
Address of Director	1 SAVANNAH WAY, ILUKA, WA6028, AUSTRALIA
Postcode of Director
Date of Birth	28/03/1958
Nationality of Director
Director Honours
Present Appointments	1
Function	Director
Appointment Date	02/10/2002

Image Accounts

Accounts Images
31-12-2010
31-12-2009
31-12-2008
31-12-2007
31-12-2006

Returns Images
31-12-2010
31-12-2009
31-12-2008
31-12-2007
31-12-2006

Other Images
20-04-2011	B10 CHANGE IN DIRS/SEC
24-01-2011	B10 CHANGE IN DIRS/SEC
19-08-2010	CERTIFICATE
19-08-2010	AMENDED MEMORANDUM AND ARTICLES.
19-08-2010	G1Q CHANGE OF NAME SPECIAL RESOLUTION
30-07-2008	M1 NOTICE OF CHG. TO SINGLE MEMBERS COMPANY REG 5
07-04-2008	B77 AUTHORISE AGENT
07-04-2008	B77 AUTHORISE AGENT
05-03-2008	B2 CHANGE IN SITUATION OF REG OFFICE.
31-10-2007	CERTIFICATE
31-10-2007	C1 MORT/ CHARGE CREATED BY IRISH COMPANY

Creditsafe CreditNet

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.91
UK Pound	1	Rs.72.90
Euro	1	Rs.64.48

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	AV POUND & CO LIMITED
Company Number	IE317042
Registered Office Address	C/O MOYLAN MULCAHY & COSARSFIELD HOUSESARSFIELD ROADWILTON CORK
Registered Office Post Code	999937
Registered Telephone No.
TPS Registered	N
Trading Address
Trading Postal Code
Trading Telephone Number
TPS Registered

Auditor/Banker's Information
Auditor Name	MOYLAN MULCAHY & CO.
Auditor Qualification	No Adverse Comments
Banker Name	BANK OF IRELAND
Banker Sort Code

Other Information
Website Address
Incorporation Date	14/12/1999
Company Type	SINGLE MEMBER PRIVATE COMPANY LIMITED BY SHARES
Type of Accounts	Medium Company
Date of Latest Accounts	31/12/2010
Filing Date of Accounts
Annual Return Date	11/04/2011

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	100
Currency of Share	EUR

Name of Shareholder	HOBART ENTERPRISES (UK) LTD
Nominal Value of each Share
Currency of Share	EUR

Industry Information
Industry Description	The international trading and distribution of industrial chemicals. Trading as 'Hobart Trading'.