MIRA INFORM REPORT

 

 

Report Date :           

22.10.2011

 

IDENTIFICATION DETAILS

 

Name :

OGALAS LIMITED

 

 

Registered Office :

Unit 4 Parkway House, Ballymount Drive, Dublin , 12

 

 

Country :

Ireland

 

 

Financials (as on) :

31.01.2010

 

 

Date of Incorporation :

23.02.2004

 

 

Com. Reg. No.:

E0382168

 

 

Legal Form :

Private Independent

 

 

Line of Business :

The sale of household goods and related accessories

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Ireland

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address

 

Ogalas Limited

Unit 4 Parkway House

Ballymount Drive

Dublin , 12

Ireland

 

 

Synthesis     

 

Employees:                  122

Company Type:            Private Independent

Incorporation Date:         23-Feb-2004

Auditor:                        Mazars

Financials in:                 USD (Millions)

Fiscal Year End:            31-Jan-2010

Reporting Currency:       Euro

Annual Sales:               33.3

Total Assets:                20.5

 

 

Business Description     

 

The sale of household goods and related accessories.

 

Industry

 

Industry            Retail (Specialty)

ANZSIC 2006:    421 - Furniture, Floor Coverings, Houseware and Textile Goods Retailing

NACE 2002:      5244 - Retail sale of furniture, lighting equipment and household articles not elsewhere classified

NAICS 2002:     442 - Furniture and Home Furnishings Stores

UK SIC 2003:    5244 - Retail sale of furniture, lighting equipment and household articles not elsewhere classified

US SIC 1987:    57 - Home Furniture, Furnishings, and Equipment Stores

 

           

Key Executives   

 

Name

Title

Daniel Andrew Maher

Secretary

Neil Durkan

Director

John Noonan

Director

Matthew George Smith

Director

Jonathan Stanley

Director

 

News

 

 

 

Title

Date

Lord Jagannath visits Nemal once a year: Legend
Pioneer, The (752 Words)

17-Jun-2011

 

Registered No.(IRE): E0382168

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7149378

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7194504

 

Corporate Overview

 

Location

Unit 4 Parkway House

Ballymount Drive

Dublin , 12

Ireland

           

Sales EUR(mil):             23.8

Assets EUR(mil):           14.7

Employees:                   122

Fiscal Year End:            31-Jan-2010

Industry:                        Retail (Specialty)

Incorporation Date:         23-Feb-2004

Company Type:             Private Independent

Quoted Status   :           Not Quoted

Registered No.(IRE):      E0382168

Director:                        Neil Durkan

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

421       -          Furniture, Floor Coverings, Houseware and Textile Goods Retailing

 

NACE 2002 Codes:

5244     -          Retail sale of furniture, lighting equipment and household articles not elsewhere classified

 

NAICS 2002 Codes:

442       -          Furniture and Home Furnishings Stores

 

US SIC 1987:

57         -          Home Furniture, Furnishings, and Equipment Stores

 

UK SIC 2003:

5244     -          Retail sale of furniture, lighting equipment and household articles not elsewhere classified

 

Business Description

The sale of household goods and related accessories.

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

23.8

Assets:

14.7

Total Liabilities:

3.6

 

Working Capital:

5.5

 

Net Worth:

11.1

 

 

 

Date of Financial Data:

31-Jan-2010

 

1 Year Growth

NA

NA

Key Corporate Relationships

 

Auditor:

Mazars

 

Auditor:

Mazars

 

 

 

 

 

 

 

 

 

 

Executive report

 

 

Board of Directors

 

Name

Title

Function

 

Neil Durkan

 

Director

Director/Board Member

 

Daniel Andrew Maher

 

Secretary

Director/Board Member

 

John Noonan

 

Director

Director/Board Member

 

Matthew George Smith

 

Director

Director/Board Member

 

Jonathan Stanley

 

Director

Director/Board Member

 

Maria Philomena Thompson

 

Director

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Daniel Andrew Maher

 

Secretary

Company Secretary

 

Annual Profit & Loss

 

 

 

 

31-Jan-2010

31-Jan-2009

31-Jan-2008

31-Jan-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate (Period Average)

0.714938

0.688599

0.722989

0.792118

Consolidated

No

No

No

No

 

 

 

 

 

Turnover

33.3

-

-

-

Cost of Sales

19.4

-

-

-

Gross Profit

13.8

13.6

7.6

4.3

Operating Profit

-1.1

-1.4

-1.8

-0.5

Non Trading Income

0.0

0.2

0.3

-

Interest Expenses

-

-

-

0.5

Pretax Profit

-1.0

-1.2

-1.6

-1.0

Profit after Tax

-1.0

-1.2

-1.6

-1.0

Retained Profits

-1.0

-1.2

-1.6

-1.0

Value Added

5.3

4.9

1.8

1.4

Wages And Salaries

4.6

4.5

2.8

1.4

Directors’ Emoluments

0.8

0.7

0.4

0.2

Auditors Fees

0.0

0.0

0.0

0.0

Depreciation

1.3

1.3

0.5

0.4

Number of Employees

122

130

79

46

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Jan-2010

31-Jan-2009

31-Jan-2008

31-Jan-2007

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate

0.71945

0.76147

0.675402

0.769556

Consolidated

No

No

No

No

 

 

 

 

 

Tangible Assets

8.5

9.1

9.5

2.7

Intangible Assets

0.0

0.0

-

-

Total Fixed Assets

8.5

9.1

9.5

2.7

Stocks

4.9

4.2

3.7

2.2

Cash

4.3

4.8

8.4

1.3

Miscellaneous Current Assets

2.7

2.3

1.9

0.8

Other Current Assets

7.0

7.0

10.2

2.1

Total Current Assets

12.0

11.2

13.9

4.3

Total Assets

20.5

20.3

23.4

7.1

Net assets

16.1

16.4

19.9

4.9

Total Current Liabilities

4.4

3.9

3.5

2.1

Total Debt

-

-

-

8.0

Total Long Term Liabilities

0.6

0.8

1.1

7.5

Total Liabilities

5.0

4.7

4.7

9.6

Share Capital And Other Reserves

22.1

20.9

23.6

0.2

Profit & Loss Account Reserve

-6.6

-5.3

-4.8

-2.8

Shareholders Funds

15.5

15.6

18.8

-2.5

Capital Employed

16.1

16.4

19.9

4.9

Net Worth

15.5

15.6

18.8

-2.5

Working Capital

7.6

7.3

10.4

2.2

Fixed Assets

8.5

9.1

9.5

2.7

Liquid Assets

7.0

7.0

10.2

2.1

Trade Creditors

2.8

2.1

2.0

0.7

Bank Overdraft

-

-

-

0.5

Miscellaneous Current Liabilities

1.6

1.8

1.5

0.9

Other Current Liabilities

1.6

1.8

1.5

0.9

Short Term Loans

-

-

-

0.5

    Long Term Loans

-

-

-

7.5

Other Long Term Finance

-

-

-

7.5

Other Long Term Liabilities

0.6

0.8

1.1

-

Sundry Reserves (incl. Grants)

22.1

20.9

23.6

0.2

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Jan-2010

31-Jan-2009

31-Jan-2008

31-Jan-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate (Period Average)

0.714938

0.688599

0.722989

0.792118

Consolidated

No

No

No

No

 

 

 

 

 

Net Cashflow From Operating Activities

-0.5

-1.2

-0.5

-

Net Cashflow From ROI & Servicing Of Finance

0.0

0.2

0.3

-

Net Cashflow Before Financing

-0.7

-2.9

-6.8

-

Net Cashflow From Financing

-

-

13.8

-

Increase In Cash

-0.7

-2.9

7.0

-

Net Cash

4.4

5.3

7.8

0.7

 

Annual Ratios

 

 

 

 

31-Jan-2008

31-Jan-2007

Period Length

52 Weeks

52 Weeks

Filed Currency

-

-

Exchange Rate

-

-

Consolidated

No

No

 

 

 

Current Ratio

3.23

2.02

Liquidity Ratio

2.44

0.99

Net Worth / Total Liabilities

323.19%

-26.44%

Long Term Liab. / Net Worth

0.06

-

Pretax Profit / Capital Employed

-8.38%

-20.22%

Pretax Profit / Total Assets

-6.80%

-14.08%

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.07

UK Pound

1

Rs.79.16

Euro

1

Rs.69.04

 

 

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.