MIRA INFORM REPORT

 

 

Report Date :

25.07.2012

 

IDENTIFICATION DETAILS

 

Name :

SRI APPAREL LIMITED

 

 

Registered Office :

1 Ontario Terrace Rathmines  Dublin 6 216410

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

20.02.2008

 

 

Com. Reg. No.:

IE453610

 

 

Legal Form :

Single Member Private Company Limited By Shares

 

 

Line of Business :

Wholesale of Children's & Infants' Clothing

 

 

No. of Employees :

6 Approximately

 

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

SRI APPAREL LIMITED

Company Number

IE453610

 

 

 

 

Registered Address

1 ONTARIO TERRACE

 


3, Adelaide Court, Adelaide Road, Dublin-2, Ireland 

 

RATHMINES

Operating Office

 

DUBLIN 6

 

 

216410

 

Website Address

-

 

 

Telephone Number

-

Fax Number

 

TPS

-

FPS

No

Incorporation Date

20/02/2008

Company Status

Active - Accounts Filed

Previous Name

 

Type

Other

Date of Change

-

Filing Date of Accounts

-

 

 

Share Capital

€25,000

SIC03

51422

Currency

EUR

SIC03 Description

WHOLESALE OF CHILDREN'S & INFANTS' CLOTHING

SIC07

46420

SIC07 Description

WHOLESALE OF CLOTHING AND FOOTWEAR

Principal Activity

The wholesale of clothing and accesories under the CAT brand. Accounts data converted from US Dollars

 

DIRECTORS/MANAGEMENT

 

Current Directors

Name

EAMONN MACKEN

Date of Birth

12/04/1934

Officers Title

 

Nationality

 

Present Appointments

2

Function

Director

Appointment Date

17/02/2010

 

 

Address

4 WESTERN RISE,  BALLINTEER,  DUBLIN 16., 

Other Actions

View Director Report

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

Name

LORRAINE, DIVVER GALLINGER,

Date of Birth

02/09/1947

Officers Title

 

Nationality

 

Present Appointments

2

Function

Director

Appointment Date

20/02/2008

 

 

Address

6336 STRATTON ROAD,  BILLINGS MONTANA 59101,  UNITED STATES OF AMERICA, 

Other Actions

View Director Report

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

Name

KENNETH D TOLLIVER

Date of Birth

23/06/1945

Officers Title

 

Nationality

 

Present Appointments

4

Function

Director

Appointment Date

20/02/2008

 

 

Address

6335 STRATTON ROAD,  BILLINGS MT 59101,  UNITED STATES OF AMERICA, 

Other Actions

View Director Report

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

Name

KURTIS CHARLES TOLLIVER

Date of Birth

26/07/1967

Officers Title

 

Nationality

 

Present Appointments

2

Function

Director

Appointment Date

20/02/2008

 

 

Address

1375 MOOSE POINT ROAD,  BOZEMAN MONTANA 59715,  UNITED STATES OF AMERICA, 

Other Actions

View Director Report

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

SEAN PATRICK GALLINGER

Date of Birth

01/06/1976

Officers Title

 

Nationality

 

Present Appointments

1

Function

Director

Appointment Date

20/02/2008

 

 

Address

11 GALLATIN DRIVE B,  BOZEMAN MONTANA 59715,  UNITED STATES, 

Other Actions

View Director Report

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

MATTHEW BROWNING GALLINGER,

Date of Birth

15/07/1974

Officers Title

 

Nationality

 

Present Appointments

2

Function

Director

Appointment Date

20/02/2008

 

 

Address

3645 HARPAR,  BILLINGS MONTANA 59102,  UNITED STATES OF AMERICA, 

Other Actions

View Director Report

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Current Company Secretary

Name

KENNETH D TOLLIVER

Date of Birth

23/06/1945

Officers Title

 

Nationality

 

Present Appointments

4

Function

Company Secretary

Appointment Date

20/02/2008

 

 

Address

6335 STRATTON ROAD,  BILLINGS MT 59101,  UNITED STATES OF AMERICA,

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

JOANNE KENNY

2

280

PAUL FRANCIS BOND

2

1

NOREEN KENNY

220

869

NOREEN KENNY

220

869

 

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

There are no writ details

Mortgage Summary

Mortgage Details

Mortgage Type:

A charge on book debts of the company.

Date Charge Created:

28/01/09

 

 

Date Charge Registered:

18/02/09

 

 

Date Charge Satisfied:

-

 

 

Status:

NOT SATISFIED

 

 

Person(s) Entitled:

R. MICHAEL PRICE

Amount Secured:

 

Details:

 

 

Mortgage Type:

A charge on book debts of the company.

Date Charge Created:

26/01/09

 

 

Date Charge Registered:

16/02/09

 

 

Date Charge Satisfied:

-

 

 

Status:

NOT SATISFIED

 

 

Person(s) Entitled:

300 NORTH 25TH LIMITED LIABILITY COMPANY

Amount Secured:

 

Details:

 

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Share Capital

€25,000

Currency

EUR

 

PAYMENT INFORMATION

Payment Information Summary

 

Days Beyond Terms

Trend Indicator

 

N/A

10

Company DBT

UK Average DBT

Steady

   

Improving Worsening

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Group

3 companies

Linkages

0 companies

Countries

In 0 countries

Summary

Holding Company

J. P. DIVVER HOLDING COMPANY LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

SUMMIT RESOURCE IMPORTS LLC

 

Group structure

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

SUMMIT RESOURCE IMPORTS LLC

N/A

-

-

 

J. P. DIVVER HOLDING COMPANY...

IE412367

31.12.2011

N

 

SRI APPAREL LIMITED

IE453610

31.12.2011

N

 

 

FINANCIAL INFORMATION

 

Key Financials

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

31/12/2010

-

-

€457,880

-

31/12/2009

-

€131,474

€303,315

6

31/12/2008

-

€136,166

€193,843

6

 

Profit & Loss

 

Date Of Accounts

31/12/10

(%)

31/12/09

(%)

31/12/08

(%)

-

(%)

-

Weeks

52

(%)

52

(%)

52

(%)

-

(%)

-

Currency

EUR

(%)

EUR

(%)

EUR

(%)

-

(%)

-

Consolidated A/cs

N

(%)

N

(%)

N

(%)

-

(%)

-

Turnover

-

-

-

-

-

-

-

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-

-

-

-

-

-

Gross Profit

-

-

€1,706,237

14.3%

€1,493,200

-

-

-

-

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

-

-

€169,057

24.2%

€136,138

-

-

-

-

Depreciation

-

-

-

-

-

-

-

-

-

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

€37,582

-

-

-

-

-

-

Pre Tax Profit

-

-

€131,474

-3.4%

€136,166

-

-

-

-

Taxation

-

-

-€17,256

7.8%

-€18,723

-

-

-

-

Profit After Tax

-

-

€114,218

-2.7%

€117,443

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

€114,218

-2.7%

€117,443

-

-

-

-

 

Balance Sheet

 

Date Of Accounts

31/12/10

(%)

31/12/09

(%)

31/12/08

(%)

-

(%)

-

Tangible Assets

0

-

0

-

0

-

-

-

-

Intangible Assets

0

-

0

-

0

-

-

-

-

Total Fixed Assets

0

-

0

-

0

-

-

-

-

Stock

€415,781

-

0

-100%

€26,377

-

-

-

-

Trade Debtors

€1,323,264

-30.7%

€1,908,374

104.4%

€933,492

-

-

-

-

Cash

€1,365,204

301.8%

€339,758

999.9%

€28,057

-

-

-

-

Other Debtors

0

-

0

-100%

€534,803

-

-

-

-

Miscellaneous Current Assets

0

-

0

-

0

-

-

-

-

Total Current Assets

€3,104,249

38.1%

€2,248,131

47.6%

€1,522,729

-

-

-

-

Trade Creditors

€1,137,823

-4.4%

€1,190,203

80.2%

€660,621

-

-

-

-

Bank Loans & Overdrafts

0

-

0

-

0

-

-

-

-

Other Short Term Finance

0

-

0

-

0

-

-

-

-

Miscellaneous Current Liabilities

€973,169

275.1%

€259,418

23.6%

€209,861

-

-

-

-

Total Current Liabilities

€2,110,992

45.6%

€1,449,621

66.5%

€870,483

-

-

-

-

Bank Loans & Overdrafts and LTL

€535,377

8.1%

€495,195

8%

€458,403

-

-

-

-

Other Long Term Finance

0

-

0

-100%

€458,403

-

-

-

-

Total Long Term Liabilities

€535,377

8.1%

€495,195

8%

€458,403

-

-

-

-

 

Capital & Reserves

 

Date Of Accounts

31/12/10

(%)

31/12/09

(%)

31/12/08

(%)

-

(%)

-

Called Up Share Capital

€29,700

-

€29,700

-2.4%

€30,446

-

-

-

-

P & L Account Reserve

€383,350

67.6%

€228,785

94.8%

€117,443

-

-

-

-

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

€44,830

-

€44,830

-2.4%

€45,955

-

-

-

-

Shareholder Funds

€457,880

51%

€303,315

56.5%

€193,843

-

-

-

-

 

Other Financial Items

 

Date Of Accounts

31/12/10

(%)

31/12/09

(%)

31/12/08

(%)

-

(%)

-

Net Worth

€457,880

51%

€303,315

56.5%

€193,843

-

-

-

-

Working Capital

€993,257

24.4%

€798,510

22.4%

€652,246

-

-

-

-

Total Assets

€3,104,249

38.1%

€2,248,131

47.6%

€1,522,729

-

-

-

-

Total Liabilities

€2,646,369

36.1%

€1,944,817

46.3%

€1,328,886

-

-

-

-

Net Assets

€457,880

51%

€303,315

56.5%

€193,843

-

-

-

-

 

Cash Flow

 

Date Of Accounts

31/12/10

(%)

31/12/09

(%)

31/12/08

(%)

-

(%)

-

Net Cashflow from Operations

-

-

€301,954

159.6%

-€506,774

-

-

-

-

Net Cashflow before Financing

-

-100%

€264,371

152.2%

-€506,746

-

-

-

-

Net Cashflow from Financing

-

-

€48,017

-91%

€534,803

-

-

-

-

Increase in Cash

-

-

€312,388

999.9%

€28,057

-

-

-

-

 

Miscellaneous

 

Date Of Accounts

31/12/10

(%)

31/12/09

(%)

31/12/08

(%)

-

(%)

-

Contingent Liability

NO

-

NO

-

NO

-

-

-

-

Capital Employed

€993,257

24.4%

€798,510

22.4%

€652,246

-

-

-

-

Number of Employees

-

-

6

-

6

-

-

-

-

 

Ratios

 

Date Of Accounts

31/12/10

31/12/09

31/12/08

-

-

Pre-tax profit margin %

-

-

-

-

-

Current ratio

1.47

1.55

1.75

-

-

Sales/Net Working Capital

-

-

-

-

-

Gearing %

116.90

163.30

236.50

-

-

Equity in %

14.80

13.50

12.70

-

-

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

1.27

1.55

1.71

-

-

Return On Capital Employed %

-

16.46

20.87

-

-

Return On Total Assets Employed %

-

5.84

8.94

-

-

Current Debt Ratio

4.61

4.77

4.49

-

-

Total Debt Ratio

5.77

6.41

6.85

-

-

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

43.34

70.24

-

-

 

FOREIGN EXCHANGE RATES

 

Na

ADDITIONAL INFORMATION

 

Incorporation Date

20/02/2008

Company Status

Active - Accounts Filed

Previous Name

 

Type

Other

Date of Change

-

Filing Date of Accounts

-

 

SIC03

51422

 

SIC03 Description

WHOLESALE OF CHILDREN'S & INFANTS' CLOTHING

SIC07

46420

SIC07 Description

WHOLESALE OF CLOTHING AND FOOTWEAR

Principal Activity

The wholesale of clothing and accesories under the CAT brand. Accounts data converted from US Dollars

 

Auditors

DEVANEY & DURKIN

Auditor Comments

The audit report contains no adverse comments

Bankers

ALLIED IRISH BANK

Bank Branch Code

93-24-77

 

Status History

 

No Status History found


Event History

 

Date

Description

19/10/2011

Annual Returns

19/10/2011

New Accounts Filed

19/10/2011

New Accounts Filed

15/12/2010

Annual Returns

15/12/2010

New Accounts Filed

15/12/2010

New Accounts Filed

12/04/2010

Annual Returns

09/04/2010

New Accounts Filed

17/02/2010

PAUL FRANCIS BOND has left the board

17/02/2010

New Board Member (EAMONN MACKEN) appointed

31/08/2008

Annual Returns

28/02/2008

JOANNE KENNY has left the board

28/02/2008

New Board Member (PAUL FRANCIS BOND) appointed

20/02/2008

NOREEN KENNY has resigned as company secretary

20/02/2008

NOREEN KENNY has left the board

 

Previous Company Names

No Previous Names found

 

Received Documents

DocumentDescription

Status

CRO Registered Date

B1c Annual Return - General

Received

21/06/2012

B1c Annual Return - General

Received

21/06/2012

The documents above have been received by CRO but are currently unavailable to view.

 

NOTES & COMMENTS

 

Na

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.01

UK Pound

1

Rs.86.89

Euro

1

Rs.67.83

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.