MIRA INFORM REPORT

 

 

Report Date :

08.05.2012

 

IDENTIFICATION DETAILS

 

Name :

BRANDWELL (IRL) LIMITED

 

 

Registered Office :

Unit 12, Northwest Business Park, Ballycoolin, Dublin, 15

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

20.11.1984

 

 

Com. Reg. No.:

E0104370

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

The import and distribution of hosiery, handbags and other travel goods

 

 

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

 

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

 

 

Company name & address 

 

Brandwell (Irl) Limited

Unit 12

Northwest Business Park

Ballycoolin

Dublin , 15

Ireland

 

 

Synthesis     

 

Employees:                  NA

Company Type:            Private Subsidiary

Corporate Family:          3 Companies

Ultimate Parent:             Brandwell Group Limited

Incorporation Date:         20-Nov-1984

Auditor:                        Sinnott Hughes & Co     

Financials in:                 USD (Millions)

Fiscal Year End:                       31-Dec-2010

Reporting Currency:       Euro

Annual Sales:               NA

Total Assets:                 8.5

 

 

Business Description     

 

The import and distribution of hosiery, handbags and other travel goods.

 

Industry             

Industry            Apparel and Accessories

ANZSIC 2006:    371 - Textile, Clothing and Footwear Wholesaling

NACE 2002:      5115 - Agents involved in the sale of furniture, household goods, hardware and ironmongery

NAICS 2002:     4243 - Apparel, Piece Goods, and Notions Merchant Wholesalers

UK SIC 2003:    51429 - Wholesale of clothing not elsewhere classified

US SIC 1987:    513 - Apparel, Piece Goods, and Notions

 

           

Key Executives   

 

Name

Title

Robert Barter

Secretary

Sean Mahon

Director

Jeff Mahon

Director

 

 

Registered No.(IRE): E0104370

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064

 

 

Corporate Overview

 

Location

Unit 12

Northwest Business Park

Ballycoolin

Dublin , 15

Ireland

           

Sales EUR(mil):             NA

Assets EUR(mil):           6.3

Employees:                   NA

Fiscal Year End:                        31-Dec-2010

Industry:                                    Apparel and Accessories

Incorporation Date:         20-Nov-1984

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(IRE):      E0104370

Director:                        Sean Mahon

 

Contents

Industry Codes

Business Description

Financial Data

Subsidiaries

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

371       -          Textile, Clothing and Footwear Wholesaling

3739     -          Other Goods Wholesaling Not Elsewhere Classified

 

NACE 2002 Codes:

5147     -          Wholesale of other household goods

5115     -          Agents involved in the sale of furniture, household goods, hardware and ironmongery

 

NAICS 2002 Codes:

423990  -          Other Miscellaneous Durable Goods Merchant Wholesalers

4243     -          Apparel, Piece Goods, and Notions Merchant Wholesalers

 

US SIC 1987:

5099     -          Durable Goods, Not Elsewhere Classified

513       -          Apparel, Piece Goods, and Notions

 

UK SIC 2003:

51429   -          Wholesale of clothing not elsewhere classified

51479   -          Wholesale of other household goods not elsewhere classified

 

Business Description

The import and distribution of hosiery, handbags and other travel goods.

 

Financial Data

Financials in:

EUR(mil)

 

Assets:

6.3

Total Liabilities:

4.2

 

Working Capital:

1.6

 

Net Worth:

2.1

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

NA

 

Subsidiaries

Company

Percentage Owned

Country

Brandwell (Uk) Ltd

 

 

 

 

 

 

Key Corporate Relationships

Auditor:

Sinnott Hughes & Co

 

Auditor:

Sinnott Hughes & Co

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Brandwell Group Limited
Brandwell (Irl) Limited

Brandwell (Irl) Limited 
Total Corporate Family Members: 3 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Brandwell Group Limited

Parent

Dublin

Ireland

Business Services

 

 

 

Bellevue Properties Limited

Subsidiary

Dublin

Ireland

Investment Services

 

 

 

Brandwell (Irl) Limited

Subsidiary

Dublin

Ireland

Apparel and Accessories

 

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Sean Mahon

 

Director

Director/Board Member

 

Jeff Mahon

 

Director

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Robert Barter

 

Secretary

Company Secretary

 

 

 

Annual Profit & Loss

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

0.683679

0.730637

Consolidated

No

No

No

No

 

 

 

 

 

Turnover

-

-

13.7

12.7

Cost of Sales

-

-

9.4

8.5

Gross Profit

3.3

4.6

4.3

4.2

Operating Profit

0.1

0.3

0.2

0.4

Non Trading Income

-1.2

-

-

-

Interest Expenses

0.1

0.1

0.2

0.1

Pretax Profit

-1.2

0.2

0.0

0.3

Taxation

0.0

0.0

-

0.0

Profit after Tax

-1.2

0.2

0.0

0.2

Retained Profits

-1.2

0.2

0.0

0.2

Auditors Fees

0.0

0.0

0.0

0.0

Depreciation

0.1

0.2

0.2

0.2

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

0.683971

Consolidated

No

No

No

No

 

 

 

 

 

Tangible Assets

0.7

0.8

0.8

0.8

Total Fixed Assets

0.7

0.8

0.8

0.8

Stocks

4.0

4.5

5.3

4.4

Trade Debtors

2.8

3.0

2.8

2.4

Cash

0.1

0.1

0.0

0.1

Miscellaneous Current Assets

0.9

2.1

2.0

1.7

Other Current Assets

1.0

2.2

2.0

1.9

Total Current Assets

7.8

9.7

10.1

8.7

Total Assets

8.5

10.5

10.9

9.5

Net assets

2.8

4.4

4.1

4.4

Total Current Liabilities

5.6

6.1

6.8

5.1

Total Debt

3.3

3.6

4.4

3.0

Total Long Term Liabilities

0.0

0.1

0.1

0.2

Total Liabilities

5.7

6.2

6.9

5.3

Profit & Loss Account Reserve

2.8

4.3

4.0

4.2

Shareholders Funds

2.8

4.3

4.0

4.2

Capital Employed

2.8

4.4

4.1

4.4

Net Worth

2.8

4.3

4.0

4.2

Working Capital

2.1

3.6

3.3

3.6

Fixed Assets

0.7

0.8

0.8

0.8

Liquid Assets

3.8

5.2

4.9

4.3

Trade Creditors

1.5

1.7

1.6

1.2

Bank Overdraft

2.5

2.4

2.5

1.6

Miscellaneous Current Liabilities

1.7

2.0

2.7

2.4

    Other Short Term Finance

0.8

1.1

1.8

1.3

Other Current Liabilities

0.8

0.9

0.9

1.1

Short Term Loans

3.3

3.5

4.3

2.8

    Long Term Loans

0.0

0.1

0.1

0.2

Other Long Term Finance

0.0

0.1

0.1

0.2

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

0.683679

0.730637

Consolidated

No

No

No

No

 

 

 

 

 

Net Cash

-2.3

-2.2

-2.6

-1.4

 

Annual Ratios

 

 

 

 

31-Dec-2007

Period Length

52 Weeks

Filed Currency

-

Exchange Rate

-

Consolidated

No

 

 

Current Ratio

1.71

Liquidity Ratio

0.84

Net Worth / Total Liabilities

78.93%

Long Term Liab. / Net Worth

0.05

Pretax Profit / Capital Employed

6.90%

Pretax Profit / Total Assets

3.20%

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.34

UK Pound

1

Rs.86.09

Euro

1

Rs.69.37

 

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%)

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.