MIRA INFORM REPORT
|
Report Date : |
23.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
BURNSIDE HYDRACYL (BALLYMOON) LIMITED |
|
|
|
|
Registered Office : |
Ballymoon, Bagenalstown, Co Carlow 34008 |
|
|
|
|
Country : |
Ireland |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
28.11.1997 |
|
|
|
|
Com. Reg. No.: |
IE276315 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacturer of compressors |
|
|
|
|
No. of Employees : |
110 employees |
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 : |
Slow but Correct |
|
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 |
REGISTERED NAME &
COMPANY SUMMARY
BURNSIDE HYDRACYL (BALLYMOON) LIMITED
|
Company
Name |
BURNSIDE
HYDRACYL (BALLYMOON) LIMITED |
Company
Number |
IE276315 |
|
Registered
Address |
BALLYMOON
|
|
|
|
|
BAGENALSTOWN
|
|
|
|
|
CO CARLOW
|
|
|
|
|
34008 |
|
|
|
Website
Address |
- |
|
|
|
Telephone
Number |
0599721364
|
Fax
Number |
|
|
TPS |
No |
FPS |
No |
|
Incorporation
Date |
28/11/1997
|
Company
Status |
Active -
Accounts Filed |
|
Previous
Name |
|
Type |
Other |
|
Date of
Change |
- |
Filing
Date of Accounts |
- |
|
|
|
Share
Capital |
€3,038,754
|
|
SIC03 |
29122 |
Currency |
EUR |
|
SIC03
Description |
MANUFACTURE
OF COMPRESSORS |
||
|
SIC07 |
28131 |
||
|
SIC07 Description
|
MANUFACTURE
OF PUMPS |
||
|
Principal
Activity |
The
manufacture of hydraulic cylinders |
||
DIRECTORS/MANAGEMENT
Current Directors
|
Name |
Date of Birth |
01/10/1943 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
3 |
Function |
Director |
|
Appointment Date |
28/11/1997 |
|
|
|
Address |
BALLYWILLIAMROE, BAGENALSTOWN,
CO. CARLOW., |
||
|
Name |
Date of Birth |
03/07/1969 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
28/11/1997 |
|
|
|
Address |
BALLYWILLIAMROE, BAGENALSTOWN,
CO CARLOW, |
||
|
Name |
Date of Birth |
03/09/1967 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
28/11/1997 |
|
|
|
Address |
CRANNAIRD, BALLYBROMHILL,
FENAGH, |
||
Current Company Secretary
|
Name |
Date of Birth |
08/04/1975 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
5 |
Function |
Company Secretary |
|
Appointment Date |
28/11/1997 |
|
|
|
Address |
Annaville, Lower Ballinlough
Road, Cork, |
||
NEGATIVE INFORMATION
CJ
|
Total
Number of Exact CJs - |
Total
Value of Exact CJs - |
||
|
Total
Number of Possible CJs - |
Total
Value of Possible CJs - |
||
|
Total
Number of Satisfied CJs - |
Total
Value of Satisfied CJs - |
Exact CJ Details
There are no exact CJ details
Possible CJ Details
There are no possible CJ
details
Writ Details
Mortgage Summary
|
Outstanding |
2 |
|
Satisfied |
0 |
SHARE & SHARE CAPITAL
INFORMATION
|
Share
Capital |
€3,038,754 |
|
Currency
|
EUR |
Top 20 Shareholders
|
Name |
Individual
Share Value |
|
ENTERPRISE IRELAND |
200,000 CUMULATIVE REDEEMABLE PREFERENCE EUR
|
|
JAMES BYRNE |
100,000 ORDINARY A EUR |
|
ENTERPRISE IRELAND |
300,000 CUMULATIVE REDEEMABLE PREFERENCE A
EUR |
|
FORFAS |
63,005 REDEEMABLE PREFERENCE EUR |
|
JAMES BYRNE |
907,297 ORDINARY EUR 1.27 |
|
P.J. BYRNE |
200,000 ORDINARY EUR 1.27 |
|
BRENDAN BYRNE |
167,000 ORDINARY EUR 1.27 |
|
MARY O'NEILL |
167,000 ORDINARY EUR 1.27 |
|
JIM BYRNE |
167,000 ORDINARY EUR 1.27 |
|
ELIZABETH MULLINS |
167,000 ORDINARY EUR 1.27 |
|
GERARD BYRNE |
87,800 ORDINARY EUR 1.27 |
PAYMENT INFORMATION
Payment Information Summary
|
Days Beyond Terms |
Trend Indicator |
Average Payment Experience |
|
|
||||||||
|
|
Steady Improving Worsening |
Be the first to leave a payment experience |
|
||||||||
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%20LIMITED%20-%20191199%2023-Aug-2012_files/image011.gif){kind=small}
GROUP STRUCTURE &
AFFILIATED COMPANIES
|
Statistics
|
Summary
|
Group structure
|
FINANCIAL INFORMATION
Key Financials
|
Year
to Date |
Turnover |
Pre
Tax Profit |
Shareholder
Funds |
Employees |
|
31/12/2010 |
- |
-€10,866 |
€3,937,553 |
110 |
|
31/12/2009 |
- |
-€1,228,507 |
€4,026,131 |
123 |
|
31/12/2008 |
- |
€63,678 |
€5,266,490 |
164 |
Profit & Loss
|
|
Date Of Accounts |
31/12/10 |
(%) |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
(%) |
31/12/06 |
|
|
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 |
€761,163 |
999.9% |
-€72,921 |
-103.7% |
€1,995,163 |
-12% |
€2,267,457 |
25.4% |
€1,807,683 |
|
|
Wages & Salaries |
€3,108,930 |
-5.2% |
€3,280,720 |
-41.1% |
€5,572,093 |
9.6% |
€5,084,694 |
11.1% |
€4,577,702 |
|
|
Directors Emoluments |
€150,349 |
-20.6% |
€189,469 |
-15.5% |
€224,223 |
-0.6% |
€225,687 |
-33% |
€337,001 |
|
|
Operating Profit |
€14,579 |
101.2% |
-€1,193,763 |
-999.9% |
€131,987 |
-76.6% |
€563,772 |
773% |
€64,576 |
|
|
Depreciation |
€417,138 |
-24% |
€548,888 |
-14.1% |
€638,933 |
10.8% |
€576,793 |
-0.2% |
€577,995 |
|
|
Audit Fees |
€14,201 |
6% |
€13,391 |
-20.6% |
€16,870 |
-8.9% |
€18,526 |
17.9% |
€15,713 |
|
|
Interest Payments |
€25,445 |
-26.8% |
€34,744 |
-49.1% |
€68,309 |
16.4% |
€58,707 |
-19% |
€72,510 |
|
|
Pre Tax Profit |
-€10,866 |
99.1% |
-€1,228,507 |
-999.9% |
€63,678 |
-88.7% |
€563,772 |
767.7% |
€64,972 |
|
|
Taxation |
- |
-100% |
€18,731 |
200% |
-€18,731 |
60.1% |
-€46,943 |
-263.4% |
-€12,916 |
|
|
Profit After Tax |
-€10,866 |
99.1% |
-€1,209,776 |
-999.9% |
€44,947 |
-91.3% |
€516,829 |
892.8% |
€52,056 |
|
|
Dividends Payable |
€31,940 |
66.4% |
€19,200 |
-2% |
€19,587 |
993% |
€1,792 |
-91.7% |
€21,588 |
|
|
Retained Profit |
-€42,806 |
96.5% |
-€1,228,976 |
-999.9% |
€25,360 |
-89.4% |
€240,037 |
687.8% |
€30,468 |
Balance Sheet
|
|
Date Of Accounts |
31/12/10 |
(%) |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
(%) |
31/12/06 |
|
|
Tangible Assets |
€2,138,418 |
-8.7% |
€2,341,443 |
-11.4% |
€2,642,749 |
-6.9% |
€2,838,374 |
2.3% |
€2,775,787 |
|
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Total Fixed Assets |
€2,138,418 |
-8.7% |
€2,341,443 |
-11.4% |
€2,642,749 |
-6.9% |
€2,838,374 |
2.3% |
€2,775,787 |
|
|
Stock |
€2,514,718 |
3.2% |
€2,436,695 |
-30% |
€3,481,287 |
19.2% |
€2,921,027 |
16.1% |
€2,516,671 |
|
|
Trade Debtors |
€1,633,852 |
20.1% |
€1,360,138 |
-51.1% |
€2,783,875 |
-45% |
€5,063,310 |
57.6% |
€3,213,777 |
|
|
Cash |
€375 |
-16.7% |
€450 |
-28.9% |
€633 |
33.3% |
€475 |
-74.5% |
€1,863 |
|
|
Other Debtors |
€157,761 |
332.2% |
€36,503 |
-59.1% |
€89,175 |
-42.9% |
€156,094 |
121.9% |
€70,332 |
|
|
Miscellaneous Current Assets |
0 |
- |
0 |
-100% |
€47 |
- |
0 |
- |
0 |
|
|
Total Current Assets |
€4,306,706 |
12.3% |
€3,833,786 |
-39.7% |
€6,355,017 |
-21.9% |
€8,140,906 |
40.3% |
€5,802,643 |
|
|
Trade Creditors |
€1,119,822 |
101.8% |
€555,053 |
-69.3% |
€1,809,025 |
-40.3% |
€3,032,036 |
62.8% |
€1,862,575 |
|
|
Bank Loans & Overdrafts |
€354,535 |
-32.3% |
€523,308 |
-18.9% |
€645,465 |
-44.2% |
€1,157,576 |
233.3% |
€347,326 |
|
|
Other Short Term Finance |
€63,161 |
-38.1% |
€102,089 |
-43.6% |
€181,123 |
-47.1% |
€342,240 |
39.2% |
€245,823 |
|
|
Miscellaneous Current Liabilities |
€506,045 |
48.7% |
€340,252 |
-8.8% |
€373,216 |
-20.1% |
€467,028 |
60.5% |
€291,066 |
|
|
Total Current Liabilities |
€2,043,563 |
34.4% |
€1,520,702 |
-49.5% |
€3,008,829 |
-39.8% |
€4,998,880 |
82% |
€2,746,790 |
|
|
Bank Loans & Overdrafts and LTL |
€818,543 |
-28.9% |
€1,151,704 |
-15.8% |
€1,367,912 |
-28.9% |
€1,923,101 |
62.7% |
€1,181,917 |
|
|
Other Long Term Finance |
€98,516 |
-39.1% |
€161,729 |
10.5% |
€146,327 |
3.9% |
€140,840 |
-80.8% |
€732,947 |
|
|
Total Long Term Liabilities |
€464,008 |
-26.2% |
€628,396 |
-13% |
€722,447 |
-5.6% |
€765,525 |
-8.3% |
€834,591 |
Capital & Reserves
|
|
Date Of Accounts |
31/12/10 |
(%) |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
(%) |
31/12/06 |
|
|
Called Up Share Capital |
€3,038,230 |
-1.1% |
€3,072,619 |
- |
€3,072,619 |
- |
€3,072,619 |
-3.8% |
€3,192,619 |
|
|
P & L Account Reserve |
€487,495 |
-13.7% |
€564,689 |
-68.5% |
€1,793,665 |
1.4% |
€1,768,305 |
7.3% |
€1,648,268 |
|
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Sundry Reserves |
€411,828 |
5.9% |
€388,823 |
-2.8% |
€400,206 |
7% |
€373,951 |
139.5% |
€156,162 |
|
|
Shareholder Funds |
€3,937,553 |
-2.2% |
€4,026,131 |
-23.6% |
€5,266,490 |
1% |
€5,214,875 |
4.4% |
€4,997,049 |
Other Financial Items
|
|
Date Of Accounts |
31/12/10 |
(%) |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
(%) |
31/12/06 |
|
|
Net Worth |
€3,937,553 |
-2.2% |
€4,026,131 |
-23.6% |
€5,266,490 |
1% |
€5,214,875 |
4.4% |
€4,997,049 |
|
|
Working Capital |
€2,263,143 |
-2.2% |
€2,313,084 |
-30.9% |
€3,346,188 |
6.5% |
€3,142,026 |
2.8% |
€3,055,853 |
|
|
Total Assets |
€6,445,124 |
4.4% |
€6,175,229 |
-31.4% |
€8,997,766 |
-18% |
€10,979,280 |
28% |
€8,578,430 |
|
|
Total Liabilities |
€2,507,571 |
16.7% |
€2,149,098 |
-42.4% |
€3,731,276 |
-35.3% |
€5,764,405 |
61% |
€3,581,381 |
|
|
Net Assets |
€3,937,553 |
-2.2% |
€4,026,131 |
-23.6% |
€5,266,490 |
1% |
€5,214,875 |
4.4% |
€4,997,049 |
Miscellaneous
|
|
Date Of Accounts |
31/12/10 |
(%) |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
(%) |
31/12/06 |
|
|
Contingent Liability |
YES |
- |
YES |
- |
YES |
- |
NO |
- |
YES |
|
|
Capital Employed |
€4,401,561 |
-5.4% |
€4,654,527 |
-22.3% |
€5,988,937 |
0.1% |
€5,980,400 |
2.6% |
€5,831,640 |
|
|
Number of Employees |
110 |
-10.6% |
123 |
-25% |
164 |
7.2% |
153 |
5.5% |
145 |
Ratios
|
Date Of Accounts |
31/12/10 |
31/12/09 |
31/12/08 |
31/12/07 |
31/12/06 |
|
Pre-tax profit margin % |
- |
- |
- |
- |
- |
|
Current ratio |
2.11 |
2.52 |
2.11 |
1.63 |
2.11 |
|
Sales/Net Working Capital |
- |
- |
- |
- |
- |
|
Gearing % |
20.80 |
28.60 |
26 |
36.90 |
23.70 |
|
Equity in % |
61.10 |
65.20 |
58.50 |
47.50 |
58.30 |
|
Creditor Days |
- |
- |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid Test |
0.87 |
0.91 |
0.95 |
1.04 |
1.20 |
|
Return On Capital Employed % |
-0.24 |
-26.39 |
1.06 |
9.42 |
1.11 |
|
Return On Total Assets Employed % |
-0.16 |
-19.89 |
0.70 |
5.13 |
0.75 |
|
Current Debt Ratio |
0.51 |
0.37 |
0.57 |
0.95 |
0.54 |
|
Total Debt Ratio |
0.63 |
0.53 |
0.70 |
1.10 |
0.71 |
|
Stock Turnover Ratio % |
- |
- |
- |
- |
- |
|
Return on Net Assets Employed % |
-0.27 |
-30.51 |
1.20 |
10.81 |
1.30 |
FOREIGN EXCHANGE RATES
N/a
ADDITIONAL INFORMATION
|
SIC03 |
29122 |
|
SIC03
Description |
MANUFACTURE OF COMPRESSORS |
|
SIC07 |
28131 |
|
SIC07
Description |
MANUFACTURE OF PUMPS |
|
Principal
Activity |
The manufacture of hydraulic cylinders |
Status
History
|
No Status History found |
Event
History
|
Date |
Description |
|
|
30/07/2012 |
New Accounts Filed |
|
|
30/07/2012 |
New Accounts Filed |
|
|
30/07/2012 |
New Accounts Filed |
|
|
22/10/2011 |
New Accounts Filed |
|
|
22/10/2011 |
New Accounts Filed |
|
|
21/10/2011 |
Annual Returns |
|
|
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 |
|
|
17/10/2007 |
New Accounts Filed |
Previous
Company Names
|
No Previous Names found |
||
|
|
Auditors |
F M COSGRAVE & ASSOCIATES |
|
|
Auditor Comments |
The audit report contains no adverse
comments |
|
|
Bankers |
ALLIED IRISH BANK PLC |
|
|
Bank Branch Code |
93-31-04 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.51 |
|
UK Pound |
1 |
Rs.87.60 |
|
Euro |
1 |
Rs.69.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.