MIRA INFORM REPORT

Report Date :

27.10.2012

IDENTIFICATION DETAILS

Name :	C.R.S. RENT A FRIDGE LIMITED
Formerly Known As :	C.R.S. PORTABLE COLD STORAGE LIMITED
Registered Office :	Carnisle, Kildalkey, Co Meath, 999804
Country :	Ireland
Financials (as on) :	31.12.2010
Date of Incorporation :	03.02.1994
Com. Reg. No.:	IE212485
Legal Form :	Limited Company
Line of Business :	Other Manufacturing Activities
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 :	Slow but Correct
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 name & address

Company Name:	C.R.S. RENT A FRIDGE LIMITED
Company No:	IE212485

Registered Address:

CARNISLE

KILDALKEY

CO MEATH

999804

Company summary

Company Name	C.R.S. RENT A FRIDGE LIMITED	Company Number	IE212485
Registered Address	CARNISLE
	KILDALKEY
	CO MEATH
	999804
Website Address	-
Telephone Number		Fax Number
TPS	No	FPS	No
Incorporation Date	03/02/1994	Company Status	Active - Accounts Filed
Previous Name	C.R.S. PORTABLE COLD STORAGE LIMITED	Type	Other
Date of Change	-	Filing Date of Accounts	-
		Share Capital	€125
SIC03	3663	Currency	EUR
SIC03 Description	OTHER MANUFACTURING (NOT ELSEWHERE CLASSIFIED)
SIC07
SIC07 Description
Principal Activity

Commentary

There is insufficient data to indicate a change in this companies percentage of sales.
Net Worth increased by 7.1% during the latest trading period.
A 3.1% decline in Total Assets occurred during the latest trading period.
There is insufficient data to indicate a change in this companies pre-tax profit.
The company saw an increase in their Cash Balance of 407.4% during the latest trading period.
The company is exempt from audit.
No recent changes in directorship are recorded.
The company is not part of a group.
The positive change in the P&L Account Reserve suggests that the company made a profit after tax and other appropriations.
The company was established over 18 years ago.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/12/2010	-	-	€1,495,048	-
31/12/2009	-	-	€1,396,347	-
31/12/2008	-	-	€1,285,481	-

Payment Information Summary

Days Beyond Terms

Trend Indicator

                         Average Payment Experience  

N/A	9
Company DBT	IE Average DBT

Steady

ImprovingWorsening

Within Terms91+ Days

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	3
Satisfied	0

Total Current Directors	3
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	8

Current Directors

Name	PATRICK TYRELL	Date of Birth	24/02/1981
Officers Title		Nationality
Present Appointments	2	Function	Director
Appointment Date	31/12/2005
Address	2 SPRINLAWN CLOSE,  BLANCHARDSTOWN,  DUBLIN 15,

Name	JOHN TYRRELL	Date of Birth	13/10/1986
Officers Title		Nationality
Present Appointments	3	Function	Director
Appointment Date	29/02/2008
Address	2 SPRINGLAWN CLOSE,  BLANCHARDSTOWN,  DUBLIN 15,

Name	PAUL TYRRELL	Date of Birth	26/11/1953
Officers Title		Nationality
Present Appointments	12	Function	Director
Appointment Date	20/06/1996
Address	CARNISLE,  KILDALKEY,  CO MEATH,

Current Company Secretary

Name	PAUL TYRRELL	Date of Birth	26/11/1953
Officers Title		Nationality
Present Appointments	12	Function	Company Secretary
Appointment Date	31/12/2004
Address	CARNISLE,  KILDALKEY,  CO MEATH,

Top 20 Shareholders

Name	Individual Share Value
PAUL TYRRELL	100 ORDINARY EUR 1.25

Profit & Loss

Date Of Accounts	31/12/10	31/12/09	31/12/08	31/12/07	31/12/06
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	€309,670	€289,554	-	-	-
Audit Fees	-	-	-	-	-
Interest Payments	€6,274	€9,890	€30,907	-	-
Pre Tax Profit	-	-	-	-	-
Taxation	-	-	-	-	-
Profit After Tax	-	-	-	-	-
Dividends Payable	-	-	-	-	-
Retained Profit	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/12/10	31/12/09	31/12/08	31/12/07	31/12/06
Tangible Assets	€1,260,610	€1,437,596	€1,353,674	€1,305,679	€1,205,799
Intangible Assets	0	0	0	0	0
Total Fixed Assets	€1,260,610	€1,437,596	€1,353,674	€1,305,679	€1,205,799
Stock	0	0	0	0	0
Trade Debtors	€330,630	€438,778	€560,805	€699,761	0
Cash	€280,799	€55,338	0	€72,462	€38,940
Other Debtors	0	0	€10,679	0	€435,672
Miscellaneous Current Assets	0	0	0	0	0
Total Current Assets	€611,429	€494,116	€571,484	€772,223	€474,612
Trade Creditors	€187,988	€299,304	€203,455	€251,364	€285,463
Bank Loans & Overdrafts	0	0	€74,578	0	0
Other Short Term Finance	0	0	€52,086	€140,551	€371,663
Miscellaneous Current Liabilities	0	0	0	€32,109	€43,319
Total Current Liabilities	€187,988	€299,304	€330,119	€424,024	€700,445
Bank Loans & Overdrafts and LTL	€189,003	€236,061	€384,136	€395,502	€138,065
Other Long Term Finance	€189,003	€236,061	€309,558	€395,502	0
Total Long Term Liabilities	€189,003	€236,061	€309,558	€395,502	€138,065

Capital & Reserves

Date Of Accounts	31/12/10	31/12/09	31/12/08	31/12/07	31/12/06
Called Up Share Capital	€125	€125	€125	€125	€125
P & L Account Reserve	€1,494,921	€1,396,220	€1,285,354	€1,258,249	€841,774
Revaluation Reserve	-	-	-	-	-
Sundry Reserves	€2	€2	€2	€2	€2
Shareholder Funds	€1,495,048	€1,396,347	€1,285,481	€1,258,376	€841,901

Other Financial Items

Date Of Accounts	31/12/10	31/12/09	31/12/08	31/12/07	31/12/06
Net Worth	€1,495,048	€1,396,347	€1,285,481	€1,258,376	€841,901
Working Capital	€423,441	€194,812	€241,365	€348,199	-€225,833
Total Assets	€1,872,039	€1,931,712	€1,925,158	€2,077,902	€1,680,411
Total Liabilities	€376,991	€535,365	€639,677	€819,526	€838,510
Net Assets	€1,495,048	€1,396,347	€1,285,481	€1,258,376	€841,901

Miscellaneous

Date Of Accounts	31/12/10	31/12/09	31/12/08	31/12/07	31/12/06
	Contingent Liability	NO	NO	NO	NO	-
Capital Employed	€1,684,051	€1,632,408	€1,595,039	€1,653,878	€841,901
Number of Employees	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers	ALLIED IRISH BANK
Bank Branch Code	93-20-86

Ratios

Date Of Accounts	31/12/10	31/12/09	31/12/08	31/12/07	31/12/06
Pre-tax profit margin %	-	-	-	-	-
Current ratio	3.25	1.65	1.73	1.82	0.68
Sales/Net Working Capital	-	-	-	-	-
Gearing %	12.60	16.90	29.90	31.40	16.40
Equity in %	79.90	72.30	66.80	60.60	50.10
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	3.25	1.65	1.73	1.82	0.68
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	0.12	0.21	0.25	0.33	0.83
Total Debt Ratio	0.25	0.38	0.49	0.65	1
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

Status History

No Status History found

Event History

Date	Description
25/10/2012	Annual Returns
08/09/2011	New Accounts Filed
08/09/2011	New Accounts Filed
07/09/2011	Annual Returns
12/10/2010	New Accounts Filed
12/10/2010	New Accounts Filed
11/10/2010	Annual Returns
06/07/2009	Annual Returns
02/07/2009	New Accounts Filed
12/06/2008	Annual Returns
28/05/2008	New Accounts Filed
29/02/2008	New Board Member (JOHN TYRRELL) appointed
31/12/2005	New Board Member (PATRICK TYRELL) appointed
31/05/2005	GARETH FANNING has left the board
31/12/2004	PAUL MCDEVITT has resigned as company secretary

Previous Company Names

Date	Previous Name
N/A	C.R.S. PORTABLE COLD STORAGE LIMITED

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group structure

No group structure

Business Owner Links

Business Name	Business No	Business Status.
C.R.S. RENT A FRIDGE LIMITED	IE212485
MOBILE COLD STORAGE	184577	NORMAL
COLD ROOM SERVICES	139950	NORMAL
TRUCK CRANE	296311	NORMAL
MOBILE BAR	236174	NORMAL
REFRIGERATION	222493	NORMAL

Statistics

Group	0 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 charge on uncalled share capital of the company. A charge created or evidenced by an instrument wh
Date Charge Created:	24/07/07
Date Charge Registered:	13/08/07
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	ALLIED IRISH BANKS PLC
Amount Secured:
Details:

Mortgage Type:	DEBENTURE.
Date Charge Created:	23/05/01
Date Charge Registered:	01/06/01
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	BANK OF SCOTLAND (IRELAND) LIMITED,
Amount Secured:	250000
Details:

Mortgage Type:	A MORTGAGE DEBENTURE.
Date Charge Created:	24/10/96
Date Charge Registered:	04/11/96
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	ALLIED IRISH BANKS PLC
Amount Secured:	0
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
JAMES ANTHONY SADLIER	15	9
JAMES ANTHONY SADLIER	15	9
ANNE TYRRELL	0	2
PAUL MCDEVITT	7	3
PAUL MCDEVITT	7	3
GARETH FANNING	0	1
PAUL TYRRELL	12	3
PAUL TYRRELL	12	3

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.63
UK Pound	1	Rs.86.18
Euro	1	Rs.69.75

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.