MIRA INFORM REPORT

 

 

Report Date :

17.04.2012

 

IDENTIFICATION DETAILS

 

Name :

EMEX FOOD INTERNATIONAL LIMITED

 

 

Registered Office :

Kilrush Road Ennis Co Clare 238424

 

 

Country :

Ireland

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

01.04.2003

 

 

Com. Reg. No.:

IE369333

 

 

Legal Form :

Not Available

 

 

Line of Business :

Wholesale of Meat & Meat Products

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

€5,000

Status :

Moderate

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 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Ireland

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Summary

Top of Form

 

 

 

Company Name

EMEX FOOD INTERNATIONAL LIMITED

Company Number

IE369333

Registered Address

KILRUSH ROAD

 


 

 

ENNIS

 

 

CO CLARE

 

 

238424

 

Website Address

-

 

 

Telephone Number

0656829383

Fax Number

 

TPS

No

FPS

No

Incorporation Date

01/04/2003

Company Status

Active - Accounts Filed

Previous Name

 

Type

Other

Date of Change

-

Filing Date of Accounts

-

 

 

Share Capital

€1

SIC03

5132

Currency

EUR

SIC03 Description

WHOLESALE OF MEAT & MEAT PRODUCTS

SIC07

46320

SIC07 Description

WHOLESALE OF MEAT AND MEAT PRODUCTS

Principal Activity

 

 

Credit Rating & Limit

 

Todays Limit

€5,000

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

31/03/2011

-

-

-€14,982

-

31/03/2010

-

-

-€78,447

-

31/03/2009

-

-

€263,417

-

Payment Information Summary

CJ

Total Number of Exact CJs -

0

Total Value of Exact CJs -

€0

Total Number of Possible CJs -

0

Total Value of Possible CJs -

€0

Total Number of Satisfied CJs -

0

Total Value of Satisfied CJs -

€0

Exact CJ Details

There are no exact CJ details

Possible CJ Details

There are no possible CJ details

Writ Details

Mortgage Summary

Outstanding

0

Satisfied

0

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

0

 

Current Directors

 

Name

ANN-MARIE HANNA

Date of Birth

01/03/1956

Officers Title

 

Nationality

 

Present Appointments

3

Function

Director

Appointment Date

01/04/2003

 

 

Address

CLONROADMORE,  ENNIS,  CO. CLARE, 

 

 

 

 

 

Name

ELI HANNA

Date of Birth

23/09/1952

Officers Title

 

Nationality

 

Present Appointments

1

Function

Director

Appointment Date

01/04/2003

 

 

Address

CLONROADMORE,  ENNIS,  CO. CLARE, 

 

 

 

 

 

 

Current Company Secretary

 

Name

ANN-MARIE HANNA

Date of Birth

01/03/1956

Officers Title

 

Nationality

 

Present Appointments

3

Function

Company Secretary

Appointment Date

01/04/2003

 

 

Address

CLONROADMORE,  ENNIS,  CO. CLARE, 

 

 

 

 

 

 

Top 20 Shareholders

 

Name

Individual Share Value

ELI W. HANNA

1 ORDINARY EUR 1.00

 

Profit & Loss

 

Date Of Accounts

31/03/11

(%)

31/03/10

(%)

31/03/09

(%)

31/03/08

(%)

31/03/07

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

EUR

(%)

EUR

(%)

EUR

(%)

EUR

(%)

EUR

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

-

-

-

-

-

-

-

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-

-

-

-

-

-

Gross Profit

-

-

-

-

-

-

-

-

-

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

-

-

-

-

-

-

-

-

-

Depreciation

€658

6%

€621

-15%

€731

25.6%

€582

10%

€529

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

Balance Sheet

 

Date Of Accounts

31/03/11

(%)

31/03/10

(%)

31/03/09

(%)

31/03/08

(%)

31/03/07

Tangible Assets

€3,731

6%

€3,519

-15%

€4,140

25.4%

€3,301

10%

€3,001

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

€3,731

6%

€3,519

-15%

€4,140

25.4%

€3,301

10%

€3,001

Stock

0

-

0

-

0

-

0

-

0

Trade Debtors

€977,592

30.3%

€750,205

-8%

€815,425

197.1%

€274,470

95.7%

€140,231

Cash

€76,385

-46.8%

€143,575

-57.7%

€339,188

134.6%

€144,581

103.8%

€70,955

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

€1,053,977

17.9%

€893,780

-22.6%

€1,154,613

175.5%

€419,051

98.4%

€211,186

Trade Creditors

€1,034,520

11%

€932,387

14.2%

€816,411

189.9%

€281,642

103.3%

€138,562

Bank Loans & Overdrafts

€14,957

-31.6%

€21,865

7.2%

€20,393

37.3%

€14,850

-0.8%

€14,963

Other Short Term Finance

0

-

0

-100%

€15,526

109.1%

€7,426

999.9%

€236

Miscellaneous Current Liabilities

€23,213

8%

€21,494

-50%

€43,006

-31%

€62,295

-31.6%

€91,025

Total Current Liabilities

€1,072,690

9.9%

€975,746

9%

€895,336

144.5%

€366,213

49.6%

€244,786

Bank Loans & Overdrafts and LTL

€14,957

-31.6%

€21,865

7.2%

€20,393

37.3%

€14,850

-0.8%

€14,963

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-

0

-

0

-

0

-

0

 

Capital & Reserves

 

Date Of Accounts

31/03/11

(%)

31/03/10

(%)

31/03/09

(%)

31/03/08

(%)

31/03/07

Called Up Share Capital

€1

-

€1

-

€1

-

€1

-

€1

P & L Account Reserve

-€14,983

80.9%

-€78,448

-129.8%

€263,416

369.2%

€56,138

283.5%

-€30,600

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

-€14,982

80.9%

-€78,447

-129.8%

€263,417

369.2%

€56,139

283.5%

-€30,599

 

Other Financial Items

 

Date Of Accounts

31/03/11

(%)

31/03/10

(%)

31/03/09

(%)

31/03/08

(%)

31/03/07

Net Worth

-€14,982

80.9%

-€78,447

-129.8%

€263,417

369.2%

€56,139

283.5%

-€30,599

Working Capital

-€18,713

77.2%

-€81,966

-131.6%

€259,277

390.7%

€52,838

257.3%

-€33,600

Total Assets

€1,057,708

17.9%

€897,299

-22.6%

€1,158,753

174.4%

€422,352

97.2%

€214,187

Total Liabilities

€1,072,690

9.9%

€975,746

9%

€895,336

144.5%

€366,213

49.6%

€244,786

Net Assets

-€14,982

80.9%

-€78,447

-129.8%

€263,417

369.2%

€56,139

283.5%

-€30,599

 

Miscellaneous

 

Date Of Accounts

31/03/11

(%)

31/03/10

(%)

31/03/09

(%)

31/03/08

(%)

31/03/07

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

-€14,982

80.9%

-€78,447

-129.8%

€263,417

369.2%

€56,139

283.5%

-€30,599

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

VAUGHAN & COMPANY

Auditor Comments

The audit report contains no adverse comments

Bankers

ALLIED IRISH BANK INTERNATIONAL BANKING SERVICES

Bank Branch Code

93-00-67

 

Ratios

 

Date Of Accounts

31/03/11

31/03/10

31/03/09

31/03/08

31/03/07

Pre-tax profit margin %

-

-

-

-

-

Current ratio

0.98

0.92

1.29

1.14

0.86

Sales/Net Working Capital

-

-

-

-

-

Gearing %

-99.80

-27.90

7.70

26.50

-48.90

Equity in %

-1.40

-8.70

22.70

13.30

-14.30

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.98

0.91

1.28

1.14

0.86

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

-71.59

-12.43

3.39

6.52

-7.99

Total Debt Ratio

-71.59

-12.43

3.39

6.52

-7.99

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

28/02/2012

New Accounts Filed

27/04/2011

New Accounts Filed

26/04/2011

Annual Returns

25/01/2010

Annual Returns

25/01/2010

New Accounts Filed

25/01/2009

Annual Returns

25/01/2009

New Accounts Filed

07/04/2008

Annual Returns

04/04/2008

New Accounts Filed

01/04/2003

New Board Member (ANN-MARIE HANNA) appointed

01/04/2003

New Company Secretary (ANN-MARIE HANNA) appointed

01/04/2003

New Board Member (ELI HANNA) appointed

 

Previous Company Names

 

No Previous Names found

 

Received Documents

 

 

Statistics

Group

-

Linkages

0 companies

Countries

In 0 countries

Summary

Holding Company

-

Ownership Status

 

Ultimate Holding Company

-

 

Group structure

 

No group structure

 

 

Statistics

 

Group

0 companies

Linkages

0 companies

Countries

In 0 countries

 

Previous Director/Company Secretaries

 

No Previous Director Details

Bottom of Form

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.66

UK Pound

1

Rs.81.79

Euro

1

Rs.67.18

 

 

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.