MIRA INFORM REPORT

 

 

Report Date :

24.04.2013

 

IDENTIFICATION DETAILS

 

Name :

THE WILD GOOSE STUDIO (KINSALE) LIMITED

 

 

Registered Office :

Kiemar House Shanakiel Road Sundays Well 180014

 

 

Country :

Ireland

 

 

Financials (as on) :

31.10.2011

 

 

Date of Incorporation :

07.12.1996

 

 

Legal Form :

Not Available

 

 

Line of Business :

Operation of Arts Facilities

 

 

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 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

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 of 1.4% in 2011 and cut the budget deficit to 9.1% of GDP. Although the recovery slowed in 2012 because of weaker EU demand for Irish exports, Dublin managed to trim the deficit to about 8.5% of GDP.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

 

Company Name

THE WILD GOOSE STUDIO (KINSALE) LIMITED

Company Number

IE257925

 

 

 

 

Registered Address

KIEMAR HOUSE

 



 

SHANAKIEL ROAD

 

 

SUNDAYS WELL

 

 

180014

 

Website Address

-

 

 

Telephone Number

 

Fax Number

 

TPS

No

FPS

No

Incorporation Date

07/12/1996

Company Status

Active - Accounts Filed

Previous Name

 

Type

Other

Date of Change

-

Filing Date of Accounts

-

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

3

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

4

 

Current Directors

Name

ANDREW DILLON

Date of Birth

24/03/1950

Officers Title

 

Nationality

 

Present Appointments

2

Function

Director

Appointment Date

08/04/2004

 

 

Address

COOLMOREEN, INISHANNON, CO. CORK

Other Actions

View Director Report

 

 

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

KATHLEEN SMYTH

Date of Birth

13/09/1930

Officers Title

 

Nationality

 

Present Appointments

3

Function

Director

Appointment Date

07/12/1996

 

 

Address

SUMMERHILL, BANTRY, CO.CORK

Other Actions

View Director Report

 

 

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

JAMES FISHER

Date of Birth

26/07/1966

Officers Title

 

Nationality

 

Present Appointments

6

Function

Director

Appointment Date

18/09/1999

 

 

Address

NEPHIN, KNOCKROE, BALLYDEHOB, CO CORK

 

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

Outstanding

2

Satisfied

0

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

BSMCC LTD

EUR

20,000

ORDINARY

1.25

Share Capital

€25,000

 

PAYMENT INFORMATION

 

Payment Information Summary

Days Beyond Terms

Trend Indicator

 

 

N/A

11

Company
DBT

IE Average
DBT

Steady

   

Improving Worsening

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

2 companies

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

BSMCC LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

BSMCC LIMITED

 

Group structure

Company Name

 

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

BSMCC LIMITED

 

IE459897

31.10.2011

N

 

THE WILD GOOSE STUDIO (KINSA...

 

IE257925

31.10.2011

N

 

 

FINANCIAL INFORMATION

 

Key Financials

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

31/10/2011

-

-

€806,429

-

31/10/2010

-

-

€827,914

-

31/10/2009

-

-

€831,026

-

 

Balance Sheet

 

Date Of Accounts

31/10/11

(%)

31/10/10

(%)

31/10/09

(%)

31/10/08

(%)

31/10/07

Tangible Assets

€620,523

-3.3%

€641,936

-3.6%

€665,789

-1.9%

€678,615

-3.1%

€699,969

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

€620,523

-3.3%

€641,936

-3.6%

€665,789

-1.9%

€678,615

-3.1%

€699,969

Stock

€161,593

13.9%

€141,904

-5.9%

€150,870

-10.5%

€168,582

-10.4%

€188,183

Trade Debtors

€209,699

-10.1%

€233,130

-14.1%

€271,311

4.1%

€260,589

-3.2%

€269,325

Cash

€124,343

-14.8%

€145,993

21.5%

€120,179

-30.3%

€172,480

-3.6%

€178,875

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

€978

-

€978

-

€978

-

€978

-

€978

Total Current Assets

€496,613

-4.9%

€522,005

-3.9%

€543,338

-9.8%

€602,629

-5.4%

€637,361

Trade Creditors

€80,601

35.9%

€59,296

-7.4%

€64,049

-7.2%

€69,034

-14.2%

€80,500

Bank Loans & Overdrafts

€46,248

-

€46,248

-

€46,248

3.8%

€44,554

-

€44,554

Other Short Term Finance

€2,407

-58.3%

€5,778

-10%

€6,418

-74.9%

€25,616

-79.2%

€123,151

Miscellaneous Current Liabilities

€24,297

-7.6%

€26,299

43.3%

€18,358

-52.9%

€38,952

4.1%

€37,408

Total Current Liabilities

€153,553

11.6%

€137,621

1.9%

€135,073

-24.2%

€178,156

-37.6%

€285,613

Bank Loans & Overdrafts and LTL

€203,402

-16.9%

€244,654

-15.4%

€289,276

-12%

€328,717

-8%

€357,402

Other Long Term Finance

0

-100%

€2,407

-70.6%

€8,185

-41.4%

€13,963

-29.3%

€19,740

Total Long Term Liabilities

€157,154

-20.8%

€198,406

-18.4%

€243,028

-14.5%

€284,163

-9.2%

€312,848

 

Capital & Reserves

 

Date Of Accounts

31/10/11

(%)

31/10/10

(%)

31/10/09

(%)

31/10/08

(%)

31/10/07

Called Up Share Capital

€25,000

-

€25,000

-

€25,000

-

€25,000

-

€25,000

P & L Account Reserve

€654,397

-3.2%

€675,882

-0.5%

€678,994

1.8%

€666,893

1.5%

€656,837

Revaluation Reserve

€56,637

-

€56,637

-

€56,637

-

€56,637

-

€56,637

Sundry Reserves

€70,395

-

€70,395

-

€70,395

-

€70,395

999.9%

€395

Shareholder Funds

€806,429

-2.6%

€827,914

-0.4%

€831,026

1.5%

€818,925

10.8%

€738,869

 

Other Financial Items

 

Date Of Accounts

31/10/11

(%)

31/10/10

(%)

31/10/09

(%)

31/10/08

(%)

31/10/07

Net Worth

€806,429

-2.6%

€827,914

-0.4%

€831,026

1.5%

€818,925

10.8%

€738,869

Working Capital

€343,060

-10.8%

€384,384

-5.8%

€408,265

-3.8%

€424,473

20.7%

€351,748

Total Assets

€1,117,136

-4%

€1,163,941

-3.7%

€1,209,127

-5.6%

€1,281,244

-4.2%

€1,337,330

Total Liabilities

€310,707

-7.5%

€336,027

-11.1%

€378,101

-18.2%

€462,319

-22.7%

€598,461

Net Assets

€806,429

-2.6%

€827,914

-0.4%

€831,026

1.5%

€818,925

10.8%

€738,869

 

Miscellaneous

 

Date Of Accounts

31/10/11

(%)

31/10/10

(%)

31/10/09

(%)

31/10/08

(%)

31/10/07

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

€963,583

-6.1%

€1,026,320

-4.4%

€1,074,054

-2.6%

€1,103,088

4.9%

€1,051,717

Number of Employees

-

-

-

-

-

-

-

-

-

 

Ratios

 

Date Of Accounts

31/10/11

31/10/10

31/10/09

31/10/08

31/10/07

Pre-tax profit margin %

-

-

-

-

-

Current ratio

3.23

3.79

4.02

3.38

2.23

Sales/Net Working Capital

-

-

-

-

-

Gearing %

25.20

29.60

34.80

40.10

48.40

Equity in %

72.20

71.10

68.70

63.90

55.20

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

2.18

2.76

2.90

2.43

1.57

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

0.19

0.16

0.16

0.21

0.38

Total Debt Ratio

0.38

0.40

0.45

0.56

0.80

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

 

 

FOREIGN EXCHANGE RATES

 

N/a

 

ADDITIONAL INFORMATION

 

SIC03

9232

SIC03 Description

OPERATION OF ARTS FACILITIES

SIC07

90040

SIC07 Description

OPERATION OF ARTS FACILITIES

Principal Activity

 

 

Current Company Secretary

Name

JAMES FISHER

Date of Birth

26/07/1966

Officers Title

 

Nationality

 

Present Appointments

6

Function

Company Secretary

Appointment Date

18/09/1999

 

 

Address

NEPHIN, KNOCKROE, BALLYDEHOB, CO CORK

 

 

Auditors

MYLES C RONAN & ASSOCIATES

 

Auditor Comments

The audit report contains no adverse comments

 

Bankers

BANK OF IRELAND

 

Bank Branch Code

 

 

 Status History

No Status History found

 

Event History

Date

Description

28/02/2013

CLIVE SALTER has left the board

11/09/2012

New Accounts Filed

10/09/2012

Annual Returns

02/08/2011

New Accounts Filed

02/08/2011

Annual Returns

02/08/2010

Annual Returns

31/07/2010

New Accounts Filed

03/09/2009

New Accounts Filed

12/08/2009

New Accounts Filed

12/08/2009

Annual Returns

02/10/2008

Annual Returns

01/10/2008

New Accounts Filed

17/10/2007

New Accounts Filed

03/10/2007

Annual Returns

14/07/2004

BRIAN SCOTT-MCCARTHY has left the board

 

Previous Company Names

No Previous Names found

 

NOTES & COMMENTS

 

N/a

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.30

UK Pound

1

Rs.82.88

Euro

1

Rs.70.80

 

 

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.