MIRA INFORM REPORT

 

 

Report Date :

31.10.2011

 

IDENTIFICATION DETAILS

 

Name :

BATHSYSTEM IRELAND LIMITED

 

 

Registered Office :

87-89 Pembroke Road Ballsbridge Dublin , 4

 

 

Country :

Ireland

 

 

Financials (as on) :

31.03.2008

 

 

Date of Incorporation :

26.08.2003

 

 

Com. Reg. No.:

E0375045

 

 

Legal Form :

Private Independent

 

 

Line of Business :

Manufacture of pre-plumbed and fully fitted bathroom and kitchen products

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

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 – September 30, 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 and address

 

Top of Form

Bottom of Form

Top of Form

 

 

Bathsystem Ireland Limited

                                                                                                                                                    

 

87-89 Pembroke Road

Ballsbridge

 

Dublin , 4

Ireland

(Registered Address)

 

Suggest Company URL

 

Employees:

21

Company Type:

Private Independent

 

 

Incorporation Date:

26-Aug-2003

Auditor:

Horwath Bastow Charleton

Financials in:

USD (mil)

 

 

Fiscal Year End:

31-Mar-2008

Reporting Currency:

Euro

Annual Sales:

NA

Total Assets:

3.4

                                      

Business Description       

 

The manufacture of pre-plumbed and fully fitted bathroom and kitchen products.

       

Industry                                                                                             

 

Industry

Furniture and Fixtures

ANZSIC 2006:

2519 - Other Furniture Manufacturing

NACE 2002:

3614 - Manufacture of other furniture

NAICS 2002:

33712 - Household and Institutional Furniture Manufacturing

UK SIC 2003:

3614 - Manufacture of other furniture

US SIC 1987:

2519 - Household Furniture, Not Elsewhere Classified

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7071324
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.631094


Corporate Overview

 

Location
87-89 Pembroke Road
Ballsbridge
Dublin , 4
Ireland

 

 

 

Suggest Company URL

Sales EUR(mil):

NA

Assets EUR(mil):

2.1

Employees:

21

Fiscal Year End:

31-Mar-2008

 

Industry:

Furniture and Fixtures

Incorporation Date:

26-Aug-2003

Company Type:

Private Independent

Quoted Status:

Not Quoted

Registered No.(IRE):

E0375045

 

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

2519

-

Other Furniture Manufacturing

 

NACE 2002 Codes:

3614

-

Manufacture of other furniture

3613

-

Manufacture of other kitchen furniture

 

NAICS 2002 Codes:

33712

-

Household and Institutional Furniture Manufacturing

 

US SIC 1987:

2519

-

Household Furniture, Not Elsewhere Classified

 

UK SIC 2003:

3613

-

Manufacture of other kitchen furniture

3614

-

Manufacture of other furniture

 

 

Business Description

The manufacture of pre-plumbed and fully fitted bathroom and kitchen products.

 

 

 

 

 

 

 

 

Financial Data

 

Financials in:

EUR(mil)

 

Assets:

2.1

Total Liabilities:

2.7

 

Working Capital:

-0.9

 

Net Worth:

-0.6

 

 

 

Date of Financial Data:

31-Mar-2008

 

1 Year Growth

NA

 

 

Key Corporate Relationships

Auditor:

Horwath Bastow Charleton

 

Auditor:

Horwath Bastow Charleton

 

 

 

 

 

 

 

 

 

 

 

Annual Profit & Loss

 

 

 

 

 

31-Mar-2008

31-Mar-2007

Period Length

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

Exchange Rate (Period Average)

0.707132

0.780101

Consolidated

No

No

 

 

 

Gross Profit

0.8

1.9

Operating Profit

-0.6

0.5

Interest Expenses

0.1

0.0

Pretax Profit

-0.7

0.5

Taxation

0.0

0.1

Profit after Tax

-0.7

0.4

Retained Profits

-0.7

0.4

Value Added

0.6

1.7

Wages And Salaries

0.8

0.8

Auditors Fees

0.0

0.0

Depreciation

0.3

0.3

Number of Employees

21

23

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

 

 

31-Mar-2008

31-Mar-2007

31-Mar-2006

31-Mar-2005

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate

0.631094

0.75123

0.826344

0.769438

Consolidated

No

No

No

No

 

 

 

 

 

Tangible Assets

0.8

1.0

2.1

2.2

Total Fixed Assets

0.8

1.0

2.1

2.2

Stocks

1.2

1.3

1.8

1.1

Trade Debtors

0.0

0.0

0.8

0.1

Cash

-

0.1

0.4

0.0

Miscellaneous Current Assets

1.3

0.8

0.0

0.1

Other Current Assets

1.3

0.9

0.4

0.1

Total Current Assets

2.5

2.2

3.1

1.2

Total Assets

3.4

3.2

5.2

3.4

Net assets

-0.6

-0.1

-0.5

-0.9

Total Current Liabilities

3.9

3.2

5.7

4.3

Total Debt

4.0

3.0

-

-

Total Long Term Liabilities

0.4

0.1

0.0

-

Total Liabilities

4.4

3.4

5.8

4.3

Profit & Loss Account Reserve

-1.0

-0.2

-0.6

-0.9

Shareholders Funds

-1.0

-0.2

-0.6

-0.9

Capital Employed

-0.6

-0.1

-0.5

-0.9

Net Worth

-1.0

-0.2

-0.6

-0.9

Working Capital

-1.4

-1.1

-2.7

-3.1

Fixed Assets

0.8

1.0

-

-

Liquid Assets

1.3

0.9

1.3

0.1

Trade Creditors

0.0

0.2

5.6

4.3

Bank Overdraft

0.5

-

-

-

Miscellaneous Current Liabilities

3.4

3.1

0.1

-

    Bank Loans - Current Portion

0.5

-

-

-

    Other Short Term Finance

2.5

2.8

-

-

Other Current Liabilities

0.4

0.2

-

-

Short Term Loans

3.5

2.8

-

-

    Long Term Loans

0.4

0.1

-

-

    Long Term Bank Loans

0.4

-

-

-

Other Long Term Finance

0.1

0.1

-

-

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

 

 

31-Mar-2008

31-Mar-2007

31-Mar-2006

31-Mar-2005

Period Length

52 Weeks

52 Weeks

52 Weeks

43 Weeks

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate (Period Average)

0.707132

0.780101

0.82167

0.795723

Consolidated

No

No

No

No

 

 

 

 

 

Net Cash

-0.5

0.1

0.4

0.0

 

 

 

Annual Ratios

 

 

 

 

 

 

31-Mar-2008

31-Mar-2007

31-Mar-2006

31-Mar-2005

Period Length

52 Weeks

52 Weeks

52 Weeks

43 Weeks

Filed Currency

-

-

-

-

Exchange Rate

-

-

-

-

Consolidated

No

No

No

No

 

 

 

 

 

Current Ratio

0.64

0.67

0.53

0.29

Liquidity Ratio

0.34

0.27

0.22

0.03

Net Worth / Total Liabilities

-22.90%

-5.52%

-9.69%

-20.20%

Pretax Profit / Total Assets

-23.75%

15.40%

-

-

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.82

UK Pound

1

Rs.78.57

Euro

1

Rs.69.28

 

 

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.