MIRA INFORM REPORT

 

 

Report Date :           

07.03.2012

 

IDENTIFICATION DETAILS

 

Name :

THOROUGHBRED REMEDIES IRELAND LIMITED

 

 

Registered Office :

Industrial Estate,  Newbridge,  Co Kildare, Town Code 504007

 

 

Country :

Ireland

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

19.02.1986

 

 

Com. Reg. No.:

IE112407

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Wholesale Of Pharmaceutical Goods

 

 

No. of Employees :

29

 

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

 

Maximum Credit Limit :

110,000 Euro

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 – September 30th, 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

 

 

 

REGISTERED NAME & COMPANY SUMMARY

 

Name

THOROUGHBRED REMEDIES IRELAND LIMITED

Number

IE112407

 

company summary

 

 

 

 

 

Type

Other

 

 

Address

INDUSTRIAL ESTATE,
NEWBRIDGE,
CO KILDARE

Company Status

Active - Accounts Filed

 

 

Town Code

504007

Incorporated Date

19/02/1986

 

company information

 

 

Registered Address

 

 

 

 

 

 

 

NDD

N

 

 

 

Address

 

 

INDUSTRIAL ESTATE
NEWBRIDGE
CO KILDARE

 

 

 

 

Web Address

 

Incorporation Date

19/02/1986

 

Type of Accounts

Medium Company

Filing Date of Accounts

 

 

Company Type

Other

Date of Latest Accounts

31/03/2011

 

Annual Return

21/10/2011

 

 

 

 

 

Industry:

 

The sale and distribution of veterinary and healthcare products for the bloodstock industry.

 

 

 

 

 

 

 

 

 

 

 

SIC Code:

51460

 

SIC Description:

Wholesale Of Pharmaceutical Goods

 

 

 

 

 

 

Mortgage Charges

 

Outstanding

2

Satisfied

0

 

 

 

 

 

 

 

 

CREDIT RECOMENDATION

 

Current Credit Limit: 110,000 Euro

 

 

DIRECTORS/MANAGEMENT

 

directors

 

 

 

Name

RAOUL MASTERSON

 

 

Address

2 COLLEGE GATE

 

 

 

CASTLEKNOCK

 

 

DUBLIN 15

 

 

CO. DUBLIN

 

Officers Title

 

Date Of Birth

15/01/1963

 

Honours

 

Present Appointments

11

 

Appointment Date

30/03/2003

Function

Company Secretary

 

 

 

 

 

 

 

 

Name

RAOUL MASTERSON

 

 

Address

2 COLLEGE GATE

 

 

 

CASTLEKNOCK

 

 

DUBLIN 15

 

 

CO. DUBLIN

 

Officers Title

 

Date Of Birth

15/01/1963

 

Honours

 

Present Appointments

11

 

Appointment Date

07/10/2002

Function

Director

 

 

 

 

 

 

 

 

Name

PHILIP MASTERSON

 

 

Address

KINGSRIVER COTTAGE

 

 

 

VALLEYMOUNT

 

 

CO WICKLOW

 

Officers Title

 

Date Of Birth

23/04/1966

 

Honours

 

Present Appointments

8

 

Appointment Date

05/07/1989

Function

Director

 

 

 

 

 

 

 

 

Name

LARRY MASTERSON

 

 

Address

UNIT 3 , NEWBRIDGE INDUSTRIAL ESTATE

 

 

 

NEWBRIDGE

 

 

CO. KILDARE

 

Officers Title

 

Date Of Birth

19/07/1964

 

Honours

 

Present Appointments

9

 

Appointment Date

20/02/1986

Function

Director

 

 

NEGATIVE INFORMATION

 

ccj's

 

 

 

Exact Active CJ's

0

 

 

 

Exact Value of CJ's [€]

€0

 

 

 

Possible Active CJ's

0

 

 

 

 

 

 

 

Unregistered

 

CJ's

 

 

 

 

Year

Exact CJ's

Possible CJ's

 

 

 

 

 

 

 

EXACT CJ DETAILS

 

Date

Court

Amount

Status

Case Number

Date Paid

 

 

 

 

 

 

 

 

 

POSSIBLE CJ DETAILS
Possible CCJ matches show CCJs that may be matched to a company based on various criteria such as similar trading names or addresses. This data is provided for your information only as an aid to decision-making and does not affect a company’s rating.

 

Date

Court

Amount

Status

Case Number

Date Paid

Incoming Record Details

 

 

 

 

 

 

 

 

 

Registered

 

CJ's

 

 

 

Year

Exact CJ's

Possible CJ's

 

EXACT CJ DETAILS

 

Date

Court

Amount

Status

Case Number

Date Paid

 

 

 

 

 

 

 

 

POSSIBLE CJ DETAILS
Possible CCJ matches show CCJs that may be matched to a company based on various criteria such as similar trading names or addresses. This data is provided for your information only as an aid to decision-making and does not affect a company’s rating.

 

Date

Court

Amount

Status

Case Number

Date Paid

Incoming Record Details

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Shareholders

Share Capital

178.75

Currency

Eur

Shareholders Details

 

 

 

Name

Shares

 

Los Alerces Ltd

17,875 Ordinary Eur 0.01

 

 

PAYMENT INFORMATION

 

Na

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

 

Ultimate Holding Company

 

 

 

Company Name

 

Company Number

 

 

 

 

LOS ALERCES LTD

 

N/A

 

Group Structure

 

 

 

Ultimate Holding Company

 

 

Company Name

 

Company Number

 

 

LOS ALERCES LTD

 

N/A

 

 

Summary

 

 

Group - Number of companies:

7

 

Linkages - Number of companies:

0

 

Number of Countries:

0

 

             

 

 

Company Name

 

Number

Latest Key Financials

 

LOS ALERCES LTD

 

N/A

-

CYPRUS

THOROUGHBRED REMEDIES IRELAND ...

 

IE112407

31/03/2011

IRELAND

THOROUGHBRED REMEDIES LIMITED

 

IE229141

31/03/2011

IRELAND

DEEVNA LIMITED

 

IE329177

31/03/2011

IRELAND

THOROUGHBRED REMEDIES MANU...

 

IE146394

31/03/2011

IRELAND

EQUINE PRODUCTS U.K. LIM...

 

01558658

31/03/2011

UK

CAMEL NUTRITION U.K LI...

 

02220440

31/03/2011

UK

 

 

Business Name

Business No.

Business Status

 

THOROUGHBRED REMEDIES IRELAND LIMITED

IE112407

N/A

 

   E.V.S.

160686

NORMAL

 

   TRI

214291

NORMAL

 

   TURFMASTERS

363869

NORMAL

 

   CURRAGH EQUESTRIAN SUPPLIES

363866

NORMAL

 

   EQUINE VETERINARY SUPPLIES

363868

NORMAL

 

 

FINANCIAL INFORMATION

 

accounts

profit & loss

 

Annual Accounts

04/10-03/11

Change (%)

04/09-03/10

Change (%)

04/08-03/09

 

Months

12

-

12

-

12

 

Currency

EUR

-

EUR

-

EUR

 

Consolidated A/cs

N

-

N

-

N

 

Turnover

-

-

-

-

-

 

Export

-

-

-

-

-

 

Cost of Sales

-

-

-

-

-

 

Gross Profit

2,178,913

-3.3 %

2,254,289

0.6 %

2,239,946

 

Wages & Salaries

1,050,512

24.7 %

842,686

-1.4 %

854,864

 

Directors Emoluments

236,000

73.9 %

135,698

-24.3 %

179,352

 

Operating Profits

220,278

-18.5 %

270,383

-21.1 %

342,657

 

Depreciation

87,481

-69.7 %

289,121

5.4 %

274,312

 

Audit Fees

8,050

-13.9 %

9,349

10.0 %

8,500

 

Interest Payments

-

-

-

-100.0 %

235

 

Pre Tax Profit

231,434

-14.9 %

271,817

-24.9 %

361,752

 

Taxation

-32,538

45.5 %

-59,717

24.3 %

-78,854

 

Profit After Tax

198,896

-6.2 %

212,100

-25.0 %

282,898

 

Dividends Payable

136,445

-

-

-100.0 %

160,822

 

Retained Profits

62,451

-70.6 %

212,100

73.7 %

122,076

 

balance sheet

 

Annual Accounts

04/10-03/11

Change (%)

04/09-03/10

Change (%)

04/08-03/09

 

Tangible Assets

123,224

-28.9 %

173,409

-50.6 %

351,360

 

Intangible Assets

-

-

-

-

-

 

Total Fixed Assets

123,224

-28.9 %

173,409

-50.6 %

351,360

 

Total Current Assets

3,165,264

1.6 %

3,115,768

17.7 %

2,646,931

 

Trade Debtors

897,341

4.3 %

860,007

-20.1 %

1,076,562

 

Stocks & WIP

1,198,572

2.6 %

1,167,900

-17.7 %

1,418,371

 

Cash

992,572

-2.9 %

1,021,794

745.1 %

120,907

 

Other Debtors

45,298

-6.9 %

48,671

101.4 %

24,165

 

Increase In Cash

-29,222

-103.2 %

900,887

374.0 %

-328,810

 

Miscellaneous Current Assets

31,481

81.0 %

17,396

151.2 %

6,926

 

Total Assets

3,288,488

0.0 %

3,289,177

9.7 %

2,998,291

 

Total Current Liabilities

493,264

-11.3 %

556,404

16.5 %

477,618

 

Trade Creditors

367,699

-18.7 %

452,165

15.9 %

389,966

 

Bank Loans & Overdrafts

18,074

-

-

-

-

 

Other Short Term Fin

17,330

56.4 %

11,084

-67.6 %

34,161

 

Miscellaneous Current Liabilities

90,161

-3.2 %

93,155

74.2 %

53,491

 

Other Long Term Fin

-

-

-

-

-

 

Total Long Term Liabilities

-

-

-

-

-

 

Bank Loans & Overdrafts & LTL

18,074

-

-

-

-

 

Total Liabilities

493,264

-11.3 %

556,404

16.5 %

477,618

 

Net Assets

2,795,224

2.3 %

2,732,773

8.4 %

2,520,673

 

Working Capital

2,672,000

4.4 %

2,559,364

18.0 %

2,169,313

 

capitals & reserves

 

Annual Accounts

04/10-03/11

Change (%)

04/09-03/10

Change (%)

04/08-03/09

 

Called up Share Capital

179

-

179

-

179

 

P&L Account Reserve

2,794,528

2.3 %

2,732,077

8.4 %

2,519,977

 

Sundry Reserves

517

-

517

-

517

 

Revaluation Reserve

-

-

-

-

-

 

Shareholder Funds

2,795,224

2.3 %

2,732,773

8.4 %

2,520,673

 

Net Worth

2,795,224

2.3 %

2,732,773

8.4 %

2,520,673

 

miscellaneous

 

Annual Accounts

04/10-03/11

Change (%)

04/09-03/10

Change (%)

04/08-03/09

 

Net Cashflow from Operations

156,564

-85.4 %

1,071,864

35.9 %

788,460

 

Net Cashflow before Financing

-47,296

-105.2 %

900,887

999.9%

52,281

 

Net Cashflow from Financing

-

-

-

-

-

 

Contingent Liability

NO

-

NO

-

NO

 

Capital Employed

2,795,224

2.3 %

2,732,773

8.4 %

2,520,673

 

No of Employees

29

16.0 %

25

25.0 %

20

     

Auditors

FMB

 

AuditQualification

No Adverse Comments

 

Bankers

ALLIED IRISH BANK

 

BankBranchCode

93-32-44

 

raTios

 

Annual Accounts

04/10-03/11

04/09-03/10

04/08-03/09

 

Pre-tax profit margin %

-

-

-

 

Current ratio

6.42

5.60

5.54

 

Sales/Net Working Capital

-

-

-

 

Gearing %

0.6 %

0.0 %

0.0 %

 

Equity in %

85.0 %

83.1 %

84.1 %

 

Creditor Days

-

-

-

 

Debtor Days

-

-

-

 

Liquidity/Acid Test

3.98

3.50

2.57

 

Return On Capital Employed %

8.3 %

9.9 %

14.4 %

 

Return On Total Assets Employed %

7.0 %

8.3 %

12.1 %

 

Current Debt Ratio %

0.2 %

0.2 %

0.2 %

 

Total Debt Ratio %

0.2 %

0.2 %

0.2 %

 

Stock Turnover Ratio %

-

-

-

 

Return on Net Assets Employed %

8.3 %

9.9 %

14.4 %

 

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

 

Exact Value of CJ's [€]

€0

 

 

 

 

Possible Active CJ's

0

 

 

 

 

 

 

 

 

 

 

Current Directors

4

 

 

Total Directorships

28

 

 

 

 

 

 

 

Trading to Date

31/03/11

31/03/10

31/03/09

 

Turnover

-

-

-

 

Shareholder Funds

€2,795,224

€2,732,773

€2,520,673

 

Employees

29

25

20

 

Secondary Industry Code Details

 

 

 

SIC Code

Description

 

51460

Wholesale Of Pharmaceutical Goods

 

 

Mortgage Details

 

 

 

Mortgage Type

A charge on land, wherever situate, or any interest therein, but not including a charge for any rent or other periodical sum issuing out of land.

 

 

Date Charge Created:

08/06/2007

Date Charge Registered:

18/06/2007

 

 

Date Charge Satisfied:

 

Status:

NOT SATISFIED

 

Person(s) Entitled:

IIB BANK PLC

 

 

Amount Secured:

 

 

Details:

 

 

 

Mortgage Type:

A MORTGAGE DEBENTURE.

 

 

Date Charge Created:

03/12/1996

Date Charge Registered:

19/12/1996

 

 

Date Charge Satisfied:

 

Status:

NOT SATISFIED

 

Person(s) Entitled:

ALLIED IRISH BANKS PLC

 

 

Amount Secured:

ALL SUMS NOW DUE OR HEREAFTER TO BECOME DUE FROM THE COMPANY TO THE PERSON(S) ENTITLED

 

Details:

 

 

 

 

Event History

 

Date

Description

 

14/12/2011

Annual Returns

 

02/11/2011

New Accounts Filed

 

02/11/2011

New Accounts Filed

 

27/10/2011

Annual Returns

 

04/09/2010

New Accounts Filed

 

30/08/2010

Annual Returns

 

02/10/2009

Annual Returns

 

02/10/2009

New Accounts Filed

 

02/10/2009

New Accounts Filed

 

12/02/2009

New Accounts Filed

 

29/01/2009

Annual Returns

 

22/02/2008

Annual Returns

 

05/02/2008

New Accounts Filed

 

01/02/2008

Annual Returns

 

16/10/2007

Annual Returns

 

 

 

NOTES & COMMENTS

 

Na

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.03

UK Pound

1

Rs.79.32

Euro

1

Rs.66.02

 

 

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.