MIRA INFORM REPORT

Report Date :

17.11.2012

IDENTIFICATION DETAILS

Name :	JERKO LIMITED
Registered Office :	Ballycurreen, Kinsale Road, Cork 180014
Country :	Ireland
Financials (as on) :	30.09.2011
Date of Incorporation :	24.08.1984
Com. Reg. No.:	IE102837
Legal Form :	Private limited with Share Capital
Line of Business :	Distribution of flooring and allied products.
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 – June 30^th, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
Ireland	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

IRELAND - ECONOMIC OVERVIEW

Ireland is a small, modern, trade-dependent economy. Ireland was among the initial group of 12 EU nations that began circulating the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity has dropped sharply since the onset of the world financial crisis, with GDP falling by over 3% in 2008, nearly 7% in 2009, and less than 1% in 2010. Ireland entered into a recession in 2008 for the first time in more than a decade, with the subsequent collapse of its domestic property and construction markets. Property prices rose more rapidly in Ireland in the decade up to 2007 than in any other developed economy. Since their 2007 peak, average house prices have fallen 47%. In the wake of the collapse of the construction sector and the downturn in consumer spending and business investment, the export sector, dominated by foreign multinationals, has become a key component of Ireland's economy. Agriculture, once the most important sector, is now dwarfed by industry and services. In 2008 the COWEN government moved to guarantee all bank deposits, recapitalize the banking system, and establish partly-public venture capital funds in response to the country's economic downturn. In 2009, in continued efforts to stabilize the banking sector, the Irish Government established the National Asset Management Agency (NAMA) to acquire problem commercial property and development loans from Irish banks. Faced with sharply reduced revenues and a burgeoning budget deficit, the Irish Government introduced the first in a series of draconian budgets in 2009. In addition to across-the-board cuts in spending, the 2009 budget included wage reductions for all public servants. These measures were not sufficient. In 2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of GDP - because of additional government support for the banking sector. In late 2010, the former COWEN Government agreed to a $112 billion loan package from the EU and IMF to help Dublin further increase the capitalization of its banking sector and avoid defaulting on its sovereign debt. Since entering office in March 2011, the KENNY government has intensified austerity measures to try to meet the deficit targets under Ireland's EU-IMF program. Ireland achieved moderate growth in 2011 and cut the budget deficit to 10.1% of GDP, although the recovery is expected to slow in 2012 as a result of the euro-zone debt crisis.

Source : CIA

Company details

Company Name	JERKO LIMITED	Company Number	IE102837
Registered Address	BALLYCURREEN
	KINSALE ROAD
	CORK
	180014
Website Address	-
Telephone Number	0214965660	Fax Number
TPS	No	FPS	No
Incorporation Date	24/08/1984	Company Status	Active - Accounts Filed
Previous Name		Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	-
		Share Capital	€28,216
SIC03	51530	Currency	EUR
SIC03 Description	Wholesale of wood, construction materials and sanitary equipment
SIC07	46730
SIC07 Description	WHOLESALE OF WOOD, CONSTRUCTION MATERIALS AND SANITARY EQUIPMENT
Principal Activity	The distribution of flooring and allied products.

Last 3 Years Credit Rating/Limit

Date	Limit
31/12/2011	€50,000
31/12/2010	€50,000
31/12/2009	€53,000

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
30/09/2011	-	-	€636,174	-
30/09/2010	-	-	€612,129	-
30/09/2009	-	-	€635,070	-

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Payment Information Summary

Days Beyond Terms

Trend Indicator

N/A	9
Company DBT	IE Average DBT

Steady

Improving Worsening

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

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Mortgage Summary

Total Current Directors	5
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	3

Current Directors

Name	JOHN PATRICK O'SULLIVAN	Date of Birth	05/03/1944
Officers Title		Nationality
Present Appointments	1	Function	Director
Appointment Date	26/08/1986
Address	21 TEMPLEVALE,  BALLINTEMPLE,  CO CORK,

Name	MICHAEL JOSEPH SPILLANE	Date of Birth	14/07/1939
Officers Title		Nationality
Present Appointments	2	Function	Director
Appointment Date	28/08/1984
Address	5 KNOCKREA LAWN,  BALLINLOUGH,  CORK,

Name	EAMONN SPILLANE	Date of Birth	08/12/1969
Officers Title		Nationality
Present Appointments	4	Function	Director
Appointment Date	04/03/2004
Address	5 KNOCKREA LAWN,  BALLINLOUGH,  CORK,

Name	BARRY KIDNEY	Date of Birth	28/02/1948
Officers Title		Nationality
Present Appointments	2	Function	Director
Appointment Date	28/08/1984
Address	ROBIN HILL,  GRANGE,  DOUGLAS,

Name	JANE KIDNEY	Date of Birth	08/11/1950
Officers Title		Nationality
Present Appointments	7	Function	Director
Appointment Date	04/03/2004
Address	ROBIN HILL,  GRANGE,  DOUGLAS,

Current Company Secretary

Name	JANE KIDNEY	Date of Birth	08/11/1950
Officers Title		Nationality
Present Appointments	7	Function	Company Secretary
Appointment Date	04/03/2004
Address	ROBIN HILL,  GRANGE,  DOUGLAS,

Top 20 Shareholders

Name	Individual Share Value
B.G.M.G. HOLDINGS LTD	20,000 ORDINARY EUR 1.27
JOHN P. O'SULLIVAN	2,222 ORDINARY EUR 1.27

Profit & Loss

Date Of Accounts	30/09/11	30/09/10	30/09/09	30/09/08	30/09/07
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	-	-	-	-	-
Wages & Salaries	-	-	-	-	-
Directors Emoluments	-	-	-	-	-
Operating Profit	-	-	-	-	-
Depreciation	-	-	€18,130	€14,902	€8,222
Audit Fees	-	-	-	-	-
Interest Payments	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-
Taxation	-	-	-	-	-
Profit After Tax	-	-	-	-	-
Dividends Payable	-	-	-	-	-
Retained Profit	-	-	-	-	-

Balance Sheet

Date Of Accounts	30/09/11	30/09/10	30/09/09	30/09/08	30/09/07
Tangible Assets	€373,911	€357,463	€370,200	€385,042	€399,944
Intangible Assets	0	0	0	0	0
Total Fixed Assets	€373,911	€357,463	€370,200	€385,042	€399,944
Stock	€346,845	€444,107	€541,425	€600,652	€612,820
Trade Debtors	€813,168	€830,341	€704,808	€1,440,799	€1,182,371
Cash	€863	€1,796	€1,697	€31,727	€6,280
Other Debtors	0	0	0	0	0
Miscellaneous Current Assets	€24,493	€4,761	0	0	0
Total Current Assets	€1,185,369	€1,281,005	€1,247,930	€2,073,178	€1,801,471
Trade Creditors	€923,106	€1,022,431	€943,976	€1,776,159	€1,516,136
Bank Loans & Overdrafts	0	0	0	0	0
Other Short Term Finance	0	0	0	0	0
Miscellaneous Current Liabilities	0	€3,908	€39,084	0	0
Total Current Liabilities	€923,106	€1,026,339	€983,060	€1,776,159	€1,516,136
Bank Loans & Overdrafts and LTL	0	0	0	€6,729	€13,793
Other Long Term Finance	0	0	0	0	0
Total Long Term Liabilities	0	0	0	€6,729	€13,793

Capital & Reserves

Date Of Accounts	30/09/11	30/09/10	30/09/09	30/09/08	30/09/07
Called Up Share Capital	€28,222	€28,222	€28,222	€28,222	€28,222
P & L Account Reserve	€601,247	€577,202	€600,143	€640,405	€636,559
Revaluation Reserve	-	-	-	-	-
Sundry Reserves	€6,705	€6,705	€6,705	€6,705	€6,705
Shareholder Funds	€636,174	€612,129	€635,070	€675,332	€671,486

Other Financial Items

Date Of Accounts	30/09/11	30/09/10	30/09/09	30/09/08	30/09/07
Net Worth	€636,174	€612,129	€635,070	€675,332	€671,486
Working Capital	€262,263	€254,666	€264,870	€297,019	€285,335
Total Assets	€1,559,280	€1,638,468	€1,618,130	€2,458,220	€2,201,415
Total Liabilities	€923,106	€1,026,339	€983,060	€1,782,888	€1,529,929
Net Assets	€636,174	€612,129	€635,070	€675,332	€671,486

Cash Flow

Date Of Accounts	30/09/11	30/09/10	30/09/09	30/09/08	30/09/07
Net Cashflow from Operations	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-
Increase in Cash	-	-	-	-	-

Miscellaneous

Date Of Accounts	30/09/11	30/09/10	30/09/09	30/09/08	30/09/07
	Contingent Liability	NO	NO	NO	NO	NO
Capital Employed	€636,174	€612,129	€635,070	€682,061	€685,279
Number of Employees	-	-	-	-	-
Auditors	HITCHMOUGH KINNEAR
Auditor Comments	The audit report contains no adverse comments
Bankers	BANK OF IRELAND
Bank Branch Code	90-27-68

Ratios

Date Of Accounts	30/09/11	30/09/10	30/09/09	30/09/08	30/09/07
Pre-tax profit margin %	-	-	-	-	-
Current ratio	1.28	1.25	1.27	1.17	1.19
Sales/Net Working Capital	-	-	-	-	-
Gearing %	0	0	0	1	2.10
Equity in %	40.80	37.40	39.20	27.50	30.50
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	0.90	0.81	0.71	0.82	0.78
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	1.45	1.67	1.54	2.63	2.25
Total Debt Ratio	1.45	1.67	1.54	2.64	2.27
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

Status History

No Status History found

Event History

Date	Description
03/03/2012	New Accounts Filed	View Document
03/03/2012	New Accounts Filed	View Document
02/03/2012	Annual Returns	View Document
15/09/2011	New Accounts Filed	View Document
15/09/2011	New Accounts Filed	View Document
10/09/2011	Annual Returns	View Document
04/09/2010	New Accounts Filed	View Document
03/09/2010	Annual Returns	View Document
31/08/2009	New Accounts Filed	View Document
26/08/2009	Annual Returns	View Document
02/09/2008	New Accounts Filed	View Document
01/09/2008	Annual Returns	View Document
04/03/2004	WILLIAM FITZGERALD has resigned as company secretary	View Document
04/03/2004	WILLIAM FITZGERALD has left the board	View Document
04/03/2004	GERARD MURPHY has left the board	View Document

Rating History

Date	Description
03/03/2012	Very Good Credit Worthiness
06/10/2011	Very Good Credit Worthiness
15/09/2011	Very Good Credit Worthiness
01/08/2011	Financial Statements too old
04/09/2010	Very Good Credit Worthiness
07/08/2010	Financial Statements too old
31/08/2009	Very Good Credit Worthiness
22/08/2009	Financial Statements too old
20/02/2009	Very Good Credit Worthiness
02/09/2008	Good Credit Worthiness

Limit History

Date	Limit
15/09/2011	€50,000
01/08/2011	-
04/09/2010	€50,000
07/08/2010	-
03/07/2010	€56,000
31/08/2009	€53,000
22/08/2009	-
20/02/2009	€47,000
02/09/2008	€62,000
31/08/2008	€0

Previous Company Names

No Previous Names found

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	B.G.M.B. HOLDINGS LIMITED
Ownership Status	Intermediately Owned
Ultimate Holding Company	B.G.M.B. HOLDINGS LIMITED

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Limit	Turnover
B.G.M.B. HOLDINGS LIMITED	IE310899	30.07.2011	N	€5,000
JERKO LIMITED	IE102837	30.09.2011	N	€50,000

Statistics

Group	2 companies
Linkages	0 companies
Countries	In 0 countries

Unregistered - Exact CJ Details

No CJs found

Unregistered - Possible CJ Details

No CJs found

Registered - Exact CJ Details

No CJs found

Registered - Possible CJ Details

No CJs found

Mortgage Details

Mortgage Type:	A MORTGAGE.
Date Charge Created:	21/11/90
Date Charge Registered:	27/11/90
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	INDUSTRIAL CREDIT CORPORATION PLC
Amount Secured:	0
Details:	ALL SUMS NOW DUE OR HEREAFTER TO BECOME DUE FROM THE COMPANY TO THE PERSON(S) ENTITLED

Mortgage Type:	A DEBENTURE.
Date Charge Created:	29/01/86
Date Charge Registered:	14/02/86
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	INTERNATIONAL FACTORS (IRELAND) LIMITED
Amount Secured:	0
Details:	ALL SUMS NOW DUE OR HEREAFTER TO BECOME DUE FROM THE COMPANY TO THE PERSON(S) ENTITLED

Mortgage Type:	ASSIGNMENT OF MARGIN ACCOUNTS.
Date Charge Created:	29/01/86
Date Charge Registered:	14/02/86
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	THE GOVERNOR & CO OF THE BANK OF IRELAND
Amount Secured:	0
Details:	ALL SUMS NOW DUE OR HEREAFTER TO BECOME DUE FROM THE COMPANY TO THE PERSON(S) ENTITLED

Mortgage Type:	A DEBENTURE.
Date Charge Created:	02/04/85
Date Charge Registered:	19/04/85
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	THE GOVERNOR & CO OF THE BANK OF IRELAND
Amount Secured:
Details:	ALL SUMS NOW DUE OR HEREAFTER TO BECOME DUE FROM THE COMPANY TO THE PERSON(S) ENTITLED

Creditor Details

	No Creditor Data
Total Value		-

Trade Debtors / Bad Debt Detail

	No Debtor Data
Total Value		-

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
GERARD MURPHY	0	2
WILLIAM FITZGERALD	0	2
WILLIAM FITZGERALD	0	2

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.99
UK Pound	1	Rs.87.21
Euro	1	Rs.70.22

INFORMATION DETAILS

Report Prepared by :

PDT

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.