MIRA INFORM REPORT

Report Date :

27.05.2011

IDENTIFICATION DETAILS

Name :	BURNSIDE HYDRACYL (BALLYMOON) LIMITED

Registered Office :	Ballymoon, Bagenalstown, Co Carlow, Co Carlow 34008

Country :	Ireland

Financials (as on) :	31.12.2009

Date of Incorporation :	28.11.1997

Com. Reg. No.:	IE276315

Legal Form :	Single Member Private Company Limited By Shares

Line of Business :	The manufacture of hydraulic cylinders.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	(€) 34,000

Status :	Moderate

Payment Behaviour :	Unknown

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	BURNSIDE HYDRACYL (BALLYMOON) LIMITED
Company Number	IE276315
Telephone Number	0599721364
Address	BALLYMOON, BAGENALSTOWN, CO CARLOW, CO CARLOW
Town Code	34008
Company Type	SINGLE MEMBER PRIVATE COMPANY LIMITED BY SHARES
Incorporation Date	28/11/1997

Company Status Summary
Limit (€)	34,000
Active CCJ's	0
Value of CCJ's (€)	0
Writs	0

Director Summary
Directorships	4
Total Directorships	10

Financial Information
Date	31/12/2009	%	31/12/2008	%	31/12/2007
Currency	NaN		NaN		NaN
Turnover	0	-	0	-	0
Shareholder Equity	4,026,131	-23.6%	5,266,490	1.0%	5,214,875
Number of employees	123	-	164	-	153

Accounts & Ratios

Period
Date From	01/01/2009	%	02/01/2008	%	01/01/2007
Date To	31/12/2009	-	31/12/2008	-	31/12/2007
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	-72,921	-103.7%	1,995,163	-12.0%	2,267,457
Operating Profit	-1,193,763	-1,004.5%	131,987	-76.6%	563,772
Pre-Tax Profit	-1,228,507	-2,029.2%	63,678	-88.7%	563,772
Tax	18,731	200.0%	-18,731	60.1%	-46,943
Post-Tax Profit	-1,209,776	-2,791.6%	44,947	-91.3%	516,829
Dividends	19,200	-2.0%	19,587	993.0%	1,792
Retained Profit	-1,228,976	-4,946.1%	25,360	-89.4%	240,037
Interest Payable	34,744	-49.1%	68,309	16.4%	58,707
Directors Remuneration	189,469	-15.5%	224,223	-0.6%	225,687
Wages & Salaries	3,280,720	-41.1%	5,572,093	9.6%	5,084,694
Depreciation of Tangibles	548,888	-14.1%	638,933	10.8%	576,793
Auditor Fees	13,391	-20.6%	16,870	-8.9%	18,526

Capitals & Reserves
Called up Share Capital	3,072,619	0.0%	3,072,619	0.0%	3,072,619
P&L Account Reserve	564,689	-68.5%	1,793,665	1.4%	1,768,305
Sundry Reserves	388,823	-2.8%	400,206	7.0%	373,951
Revaluation Reserve	0	-	0	-	0
Shareholder Funds	4,026,131	-23.6%	5,266,490	1.0%	5,214,875
Net Worth	4,026,131	-23.6%	5,266,490	1.0%	5,214,875

Miscellaneous
Net Cashflow from Operations	0	-	0	-	0
Net Cashflow before Financing	0	-	0	-	0
Net Cashflow from Financing	0	-	0	-	0
Capital Employed	4,654,527	-22.3%	5,988,937	0.1%	5,980,400
No of Employees	123	-25.0%	164	7.2%	153

Balance Sheet
Tangible Assets	2,341,443	-11.4%	2,642,749	-6.9%	2,838,374
Intangible Assets	0	-	0	-	0
Total Fixed Assets	2,341,443	-11.4%	2,642,749	-6.9%	2,838,374
Stocks & Work-in-Progress	2,436,695	-30.0%	3,481,287	19.2%	2,921,027
Debtors
- Trade Debtors	1,360,138	-51.1%	2,783,875	-45.0%	5,063,310
Cash	450	-28.9%	633	33.3%	475
Misc. Current Assets	0	-100.0%	47	-	0
Total Current Assets
Creditors
- Trade Creditors	555,053	-69.3%	1,809,025	-40.3%	3,032,036
- Bank Overdraft	523,308	-18.9%	645,465	-44.2%	1,157,576
Increase in Cash	-183	-215.8%	158	-	0
Total Current Liabilities	1,520,702	-49.5%	3,008,829	-39.8%	4,998,880
Other Short Term Loans	102,089	-43.6%	181,123	-47.1%	342,240
Miscellaneous Current Liabilities	340,252	-8.8%	373,216	-20.1%	467,028
Other Long Term Finance	161,729	10.5%	146,327	3.9%	140,840
Total Long Term Liabilities	628,396	-13.0%	722,447	-5.6%	765,525
Overdraft Long Term Liabilites	1,151,704	-15.8%	1,367,912	-28.9%	1,923,101
Liabilities	2,149,098	-42.4%	3,731,276	-35.3%	5,764,405
Net Assets	4,026,131	-23.6%	5,266,490	1.0%	5,214,875
Working Captial	2,313,084	-30.9%	3,346,188	6.5%	3,142,026
Current Assets	3,833,786	-39.7%	6,355,017	-21.9%	8,140,906
Other Current Assets	36,503	-59.1%	89,175	-42.9%	156,094

Ratios
Date To	31/12/2009	%	31/12/2008	%	31/12/2007
Trading Performance
Pre-Tax Profit Margin	0.0%	-	0.0%	-	0.0%
Return on Capital Employed	-26.4 %	-	1.1 %	-	9.4 %
Return on Total Assets Employed	-19.9 %	-	0.7 %	-	5.1 %
Return on Net Assets Employed	-30.5 %	-	1.2 %	-	10.8 %
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	2.52	-	2.11	-	1.63
Liquidity Ratio/Acid Ratio	0.91	-	0.95	-	1.04
Current Debt Ratio	0.4 %	-	0.6 %	-	1.0 %
Long Term Stability
Gearing	28.6 %	-	26.0 %	-	36.9 %
Equity in Percentage	65.2 %	-	58.5 %	-	47.5 %
Total Debt Ratio	0.5 %	-	0.7 %	-	1.1 %

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

No Group Structure for this company.

Company History

Event History
Date	Description
12/10/2010	New Accounts Filed
12/10/2010	New Accounts Filed
11/10/2010	Annual Returns
19/10/2009	New Accounts Filed
19/10/2009	New Accounts Filed
16/10/2009	Annual Returns
16/10/2008	Annual Returns
16/10/2008	New Accounts Filed

Status History
No status history for this company.

Directors

Director
Directors Title
Name of Director	ELIZABETH MULLINS
Address of Director	Annaville,, Lower Ballinlough Road,, Cork
Postcode of Director
Date of Birth	08/04/1975
Nationality of Director
Director Honours
Present Appointments	5
Function	Company Secretary
Appointment Date	28/11/1997

Director
Directors Title
Name of Director	PJ BYRNE
Address of Director	CRANNAIRD, BALLYBROMHILL, FENAGH, CO CARLOW
Postcode of Director
Date of Birth	03/09/1967
Nationality of Director
Director Honours
Present Appointments	1
Function	Director
Appointment Date	28/11/1997

Director
Directors Title
Name of Director	JIM BYRNE
Address of Director	BALLYWILLIAMROE, BAGENALSTOWN, CO CARLOW
Postcode of Director
Date of Birth	03/07/1969
Nationality of Director
Director Honours
Present Appointments	1
Function	Director
Appointment Date	28/11/1997

Director
Directors Title
Name of Director	JAMES BYRNE
Address of Director	BALLYWILLIAMROE,, BAGENALSTOWN,, CO. CARLOW.
Postcode of Director
Date of Birth	01/10/1943
Nationality of Director
Director Honours
Present Appointments	3
Function	Director
Appointment Date	28/11/1997

Image Accounts

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

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

Other Images

No more image documents for this company.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.29
UK Pound	1	Rs.73.84
Euro	1	Rs.64.18

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	BURNSIDE HYDRACYL (BALLYMOON) LIMITED
Company Number	IE276315
Registered Office Address	BALLYMOONBAGENALSTOWNCO CARLOWCO CARLOW
Registered Office Post Code	34008
Registered Telephone No.	0599721364
TPS Registered	N
Trading Address
Trading Postal Code
Trading Telephone Number
TPS Registered

Auditor/Banker's Information
Auditor Name	F M COSGRAVE & ASSOCIATES
Auditor Qualification	No Adverse Comments
Banker Name	ALLIED IRISH BANK PLC
Banker Sort Code	93-31-04

Other Information
Website Address
Incorporation Date	28/11/1997
Company Type	SINGLE MEMBER PRIVATE COMPANY LIMITED BY SHARES
Type of Accounts	Medium Company
Date of Latest Accounts	31/12/2009
Filing Date of Accounts
Annual Return Date	30/09/2010

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	3,133,162
Currency of Share	EUR

Name of Shareholder	ENTERPRISE IRELAND
Nominal Value of each Share
Currency of Share	EUR

Industry Information
Industry Description	The manufacture of hydraulic cylinders.