MIRA INFORM REPORT
|
Report Date : |
23.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
MATT BUCKLEY TRACTOR SPARES LIMITED |
|
|
|
|
Registered Office : |
Zone C, Mullingar Business Park , Mullingar |
|
|
|
|
Country : |
Ireland |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
27.09.2000 |
|
|
|
|
Com. Reg. No.: |
IE333183 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Wholesale of agricultural machinery and
accessories and implements, including tractors |
|
|
|
|
No. of Employees : |
Not Available |
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 – 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
|
Company Name |
MATT BUCKLEY
TRACTOR SPARES LIMITED |
Company Number |
IE333183 |
|
Registered Address |
ZONE C |
|
|
|
|
MULLINGAR BUSINESS PARK |
|
|
|
|
MULLINGAR |
|
|
|
|
|
|
|
|
Website Address |
- |
|
|
|
Telephone Number |
|
Fax Number |
|
|
TPS |
No |
FPS |
No |
|
Incorporation Date |
27/09/2000 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
|
Type |
Private limited with Share Capital |
|
Date of Change |
- |
Filing Date of Accounts |
- |
|
|
|
Share Capital |
€2,666 |
|
SIC03 |
51880 |
Currency |
EUR |
|
SIC03 Description |
Wholesale of agricultural machinery and
accessories and implements, including tractors |
||
|
SIC07 |
46610 |
||
|
SIC07 Description |
WHOLESALE OF AGRICULTURAL MACHINERY,
EQUIPMENT AND SUPPLIES |
||
|
Principal Activity |
The import, export and distribution of spare
parts for agriculturial tractors. |
||
DIRECTORS/MANAGEMENT
Directors
|
Total Current Directors |
2 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company
Secretaries |
1 |
Current Directors
|
Name |
MATTHEW BUCKLEY |
Date of Birth |
07/02/1950 |
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
27/09/2000 |
|
|
|
Address |
120 HILLSIDE DRIVE, MULLINGAR CO.
WESTMEATH, , |
||
|
|
|
|
|
|
Name |
MARINA BUCKLEY |
Date of Birth |
06/11/1954 |
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
3 |
Function |
Director |
|
Appointment Date |
27/09/2000 |
|
|
|
Address |
120 HILLSIDE DRIVE, MULLINGAR,
, |
||
|
|
|
|
|
Current Company Secretary
|
Name |
MARINA BUCKLEY |
Date of Birth |
06/11/1954 |
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
3 |
Function |
Company
Secretary |
|
Appointment Date |
28/09/2000 |
|
|
|
Address |
120 HILLSIDE DRIVE, MULLINGAR,
, |
||
NEGATIVE INFORMATION
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 |
SHARE & SHARE CAPITAL INFORMATION
Top 20
Shareholders
|
Name |
Individual Share Value |
|
MARINA BUCKLEY |
786 ORDINARY EUR 1.27 |
|
MATTHEW BUCKLEY |
786 ORDINARY EUR 1.27 |
|
QTP HOLDINGS LTD |
428 ORDINARY EUR 1.27 |
|
MARINA BUCKLEY |
50 ORDINARY A EUR 1.27 |
|
MATTHEW BUCKLEY |
50 ORDINARY A EUR 1.27 |
PAYMENT INFORMATION
Summary – Payment
History
* Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
31/12/2011 |
- |
€1,470,691 |
€11,057,378 |
- |
|
31/12/2010 |
- |
-€1,040,835 |
€9,736,792 |
- |
|
31/12/2009 |
- |
€1,677,931 |
€10,864,940 |
- |
Payment
Information Summary
|
Days Beyond Terms |
Trend Indicator |
Average
Payment Experience |
|
||||
|
Steady Improving Worsening |
Be the first to leave a payment experience
|
|
GROUP STRUCTURE & AFFILIATED COMPANIES
Group Structure
Statistics
|
Group |
- |
|
Linkages |
0 companies |
|
Countries |
In 0 countries |
Summary
|
Holding Company |
- |
|
Ownership Status
|
|
|
Ultimate Holding
Company |
- |
Group structure
No group structure
FINANCIAL INFORMATION
Financials
Profit & Loss
|
Date Of Accounts |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
65 |
|
Currency |
EUR |
(%) |
EUR |
(%) |
EUR |
(%) |
EUR |
(%) |
EUR |
|
Consolidated A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
Turnover |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost of Sales |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Gross Profit |
€3,807,383 |
1.8% |
€3,738,704 |
7.4% |
€3,479,801 |
-17.6% |
€4,223,980 |
-15.7% |
€5,009,680 |
|
Wages & Salaries |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Directors Emoluments |
€150,893 |
30.7% |
€115,477 |
8.8% |
€106,100 |
29.1% |
€82,160 |
-19.7% |
€102,338 |
|
Operating Profit |
€1,417,223 |
-7.1% |
€1,524,763 |
-3.6% |
€1,582,058 |
-10% |
€1,757,258 |
-17.7% |
€2,136,209 |
|
Depreciation |
€48,563 |
-4.2% |
€50,704 |
-3.5% |
€52,527 |
-13% |
€60,387 |
-12.6% |
€69,101 |
|
Audit Fees |
€8,000 |
6.7% |
€7,500 |
- |
€7,500 |
-46.4% |
€14,000 |
12% |
€12,500 |
|
Interest Payments |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Pre Tax Profit |
€1,470,691 |
241.3% |
-€1,040,835 |
-162% |
€1,677,931 |
-13.4% |
€1,936,576 |
-17.9% |
€2,359,607 |
|
Taxation |
-€150,105 |
-505.4% |
-€24,794 |
88.2% |
-€210,141 |
-102.7% |
-€103,667 |
67.3% |
-€316,822 |
|
Profit After Tax |
€1,320,586 |
223.9% |
-€1,065,629 |
-172.6% |
€1,467,790 |
-19.9% |
€1,832,909 |
-10.3% |
€2,042,785 |
|
Dividends Payable |
- |
-100% |
€62,644 |
- |
- |
-100% |
€316,015 |
278% |
€83,612 |
|
Retained Profit |
€1,320,586 |
217% |
-€1,128,273 |
-176.9% |
€1,467,790 |
-3.2% |
€1,516,894 |
-22.6% |
€1,959,173 |
Balance Sheet
|
Date Of Accounts |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
|
Tangible Assets |
€1,965,991 |
-0.4% |
€1,974,557 |
335.5% |
€453,389 |
-9% |
€498,392 |
6% |
€470,319 |
|
Intangible Assets |
€3,000,000 |
- |
€3,000,000 |
- |
€3,000,000 |
- |
€3,000,000 |
- |
0 |
|
Total Fixed Assets |
€4,965,991 |
-0.2% |
€4,974,557 |
44% |
€3,453,389 |
-1.3% |
€3,498,392 |
643.8% |
€470,319 |
|
Stock |
€3,146,246 |
4% |
€3,024,147 |
-3% |
€3,116,340 |
-6.2% |
€3,322,845 |
22% |
€2,723,289 |
|
Trade Debtors |
€1,291,192 |
-1.8% |
€1,314,932 |
8.4% |
€1,212,488 |
-26.7% |
€1,653,097 |
-3% |
€1,704,655 |
|
Cash |
€2,504,465 |
71.6% |
€1,459,301 |
-65% |
€4,168,076 |
32.7% |
€3,140,770 |
-39.2% |
€5,167,136 |
|
Other Debtors |
€17,245 |
2.4% |
€16,845 |
13.4% |
€14,859 |
36.2% |
€10,908 |
-34.4% |
€16,624 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
€6,959,148 |
19.7% |
€5,815,225 |
-31.7% |
€8,511,763 |
4.7% |
€8,127,620 |
-15.4% |
€9,611,704 |
|
Trade Creditors |
€692,605 |
-27.1% |
€950,103 |
13.6% |
€836,089 |
27.6% |
€655,249 |
-19.4% |
€812,598 |
|
Bank Loans & Overdrafts |
0 |
- |
0 |
- |
0 |
- |
0 |
-100% |
€4,734 |
|
Other Short Term Finance |
€15,836 |
-74% |
€60,975 |
426.3% |
€11,586 |
-99.2% |
€1,474,228 |
999.9% |
€108,535 |
|
Miscellaneous Current Liabilities |
€159,320 |
280.1% |
€41,912 |
-83.4% |
€251,845 |
154.9% |
€98,810 |
-13.4% |
€114,160 |
|
Total Current Liabilities |
€867,761 |
-17.6% |
€1,052,990 |
-4.2% |
€1,099,520 |
-50.7% |
€2,228,287 |
114.3% |
€1,040,027 |
|
Bank Loans & Overdrafts and LTL |
0 |
- |
0 |
-100% |
€692 |
20.8% |
€573 |
-92% |
€7,152 |
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Long Term Liabilities |
0 |
- |
0 |
-100% |
€692 |
20.8% |
€573 |
-76.3% |
€2,418 |
Capital &
Reserves
|
Date Of Accounts |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
|
Called Up Share Capital |
€2,666 |
- |
€2,666 |
5% |
€2,539 |
- |
€2,539 |
- |
€2,539 |
|
P & L Account Reserve |
€11,054,712 |
13.6% |
€9,734,126 |
-10.4% |
€10,862,401 |
15.6% |
€9,394,613 |
4% |
€9,037,039 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Shareholder Funds |
€11,057,378 |
13.6% |
€9,736,792 |
-10.4% |
€10,864,940 |
15.6% |
€9,397,152 |
4% |
€9,039,578 |
Other Financial
Items
|
Date Of Accounts |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
|
Net Worth |
€8,057,378 |
19.6% |
€6,736,792 |
-14.3% |
€7,864,940 |
22.9% |
€6,397,152 |
-29.2% |
€9,039,578 |
|
Working Capital |
€6,091,387 |
27.9% |
€4,762,235 |
-35.8% |
€7,412,243 |
25.6% |
€5,899,333 |
-31.2% |
€8,571,677 |
|
Total Assets |
€11,925,139 |
10.5% |
€10,789,782 |
-9.8% |
€11,965,152 |
2.9% |
€11,626,012 |
15.3% |
€10,082,023 |
|
Total Liabilities |
€867,761 |
-17.6% |
€1,052,990 |
-4.3% |
€1,100,212 |
-50.6% |
€2,228,860 |
113.8% |
€1,042,445 |
|
Net Assets |
€11,057,378 |
13.6% |
€9,736,792 |
-10.4% |
€10,864,940 |
15.6% |
€9,397,152 |
4% |
€9,039,578 |
Cash Flow
|
Date Of Accounts |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
|
Net Cashflow from Operations |
€1,018,729 |
203% |
-€989,002 |
-187.4% |
€1,131,226 |
176% |
-€1,488,422 |
-159.2% |
€2,514,451 |
|
Net Cashflow before Financing |
€1,045,163 |
187.5% |
-€1,194,001 |
-216.2% |
€1,027,308 |
150.8% |
-€2,021,631 |
-188.1% |
€2,294,057 |
|
Net Cashflow from Financing |
- |
100% |
-€1,514,773 |
- |
- |
- |
- |
- |
- |
|
Increase in Cash |
€1,045,163 |
138.6% |
-€2,708,774 |
-363.7% |
€1,027,308 |
150.8% |
-€2,021,631 |
-188.1% |
€2,294,057 |
Miscellaneous
|
Date Of Accounts |
31/12/11 |
(%) |
31/12/10 |
(%) |
31/12/09 |
(%) |
31/12/08 |
(%) |
31/12/07 |
|
Contingent Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
€11,057,378 |
13.6% |
€9,736,792 |
-10.4% |
€10,865,632 |
15.6% |
€9,397,725 |
3.9% |
€9,041,996 |
|
Number of Employees |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Auditors |
MA STEPHENS & CO. |
||||||||
|
Auditor Comments |
The audit report contains no adverse
comments |
||||||||
|
Bankers |
ULSTER BANK LTD |
||||||||
|
Bank Branch Code |
|
||||||||
Ratios
|
Date
Of Accounts |
31/12/11 |
31/12/10 |
31/12/09 |
31/12/08 |
31/12/07 |
|
Pre-tax profit margin % |
- |
- |
- |
- |
- |
|
Current ratio |
8.02 |
5.52 |
7.74 |
3.65 |
9.24 |
|
Sales/Net Working Capital |
- |
- |
- |
- |
- |
|
Gearing % |
0 |
0 |
0 |
0 |
0.10 |
|
Equity in % |
123.90 |
125 |
121.20 |
108.90 |
89.70 |
|
Creditor Days |
- |
- |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid Test |
4.39 |
2.65 |
4.90 |
2.15 |
6.62 |
|
Return On Capital Employed % |
13.30 |
-10.68 |
15.44 |
20.60 |
26.09 |
|
Return On Total Assets Employed % |
12.33 |
-9.64 |
14.02 |
16.65 |
23.40 |
|
Current Debt Ratio |
0.07 |
0.10 |
0.10 |
0.23 |
0.11 |
|
Total Debt Ratio |
0.07 |
0.10 |
0.10 |
0.23 |
0.11 |
|
Stock Turnover Ratio % |
- |
- |
- |
- |
- |
|
Return on Net Assets Employed % |
13.30 |
-10.68 |
15.44 |
20.60 |
26.10 |
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
Commentary
|
The company's credit rating has increased from
66 to 95 which indicates very good creditworthiness. |
|
|
There is insufficient data to indicate a
change in this companies percentage of sales. |
|
|
Net Worth increased by 19.6% during the
latest trading period. |
|
|
A 10.5% growth in Total Assets occurred
during the latest trading period. |
|
|
Pre-tax profits increased by 241.3% compared
to the previous trading period. |
|
|
The company saw an increase in their Cash
Balance of 71.6% during the latest trading period. |
|
|
The audit report contains no adverse
comments. |
|
|
No recent changes in directorship are
recorded. |
|
|
The company is not part of a group. |
|
|
The company was established over 11 years
ago. |
|
Event History
|
Status History No Status History
found |
*Event History
|
Date |
Description |
|
15/08/2012 |
New Accounts Filed |
|
15/08/2012 |
New Accounts Filed |
|
14/08/2012 |
Annual Returns |
|
16/08/2011 |
New Accounts Filed |
|
16/08/2011 |
New Accounts Filed |
|
13/08/2011 |
Annual Returns |
|
25/08/2010 |
Annual Returns |
|
24/08/2010 |
New Accounts Filed |
|
24/08/2010 |
New Accounts Filed |
|
24/08/2009 |
Annual Returns |
|
20/08/2009 |
New Accounts Filed |
|
20/08/2009 |
New Accounts Filed |
|
29/07/2008 |
Annual Returns |
|
11/07/2008 |
New Accounts Filed |
|
28/09/2000 |
COMPANY SERVICES LIMITED has resigned as
company secretary |
Limit History
|
Date |
Limit |
|
15/08/2012 |
€215,000 |
|
09/08/2012 |
€110,000 |
|
16/08/2011 |
€135,000 |
|
18/05/2011 |
€330,000 |
|
09/04/2011 |
€375,000 |
|
06/01/2011 |
€385,000 |
|
31/12/2010 |
€390,000 |
|
24/08/2010 |
€330,000 |
|
18/08/2010 |
€320,000 |
|
20/08/2009 |
€310,000 |
Previous Company
Names
|
No Previous Names
found |
NOTES & COMMENTS
Na
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.