MIRA INFORM REPORT

Report Date :

13.12.2013

IDENTIFICATION DETAILS

Name :	MCLOUGHLIN & SONS HARDWARE HOLDINGS LIMITED
Formerly Known As :	MICHAEL MCLOUGHLIN & SONS HARDWARE LIMITED
Registered Office :	Unit 5 Northern Cross Business Park, North Road, Finglas 216410
Country :	Ireland
Financials (as on) :	31.12.2011
Date of Incorporation :	26.09.1984
Com. Reg. No.:	IE103395
Legal Form :	Private limited with Share Capital
Line of Business :	Wholesale of hardware, plumbing and heating equipment and supplies
No. of Employees :	73

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 – March, 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
Ireland	B1	B1

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 former 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 new 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	MCLOUGHLIN & SONS HARDWARE HOLDINGS LIMITED	Company Number	IE103395
Registered Address	Unit 5 Northern Cross Business Park North Road Finglas 216410
Website Address	-
Telephone Number	014601333
TPS	No
Incorporation Date	26/09/1984	Company Status	Active - Accounts Filed
Previous Name	MICHAEL MCLOUGHLIN & SONS HARDWARE LIMITED	Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	-

DIRECTORS/MANAGEMENT

Total Current Directors	5
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	4

Current Directors

Name	COLM MICHAEL DEIGNAN	Date of Birth	08/02/1956
Officers Title		Nationality
Present Appointments	7	Function	Director
Appointment Date	01/09/2012
Address	9 CHESTERFIELD GROVE, CASTLEKNOCK, DUBLIN 15.
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	KIERAN MCLOUGHLIN	Date of Birth	22/11/1953
Officers Title		Nationality
Present Appointments	6	Function	Director
Appointment Date	26/09/1984
Address	2 DUNSANDLE ROAD, CASTLEKNOCK, DUBLIN 15
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	LIAM ROCHE	Date of Birth	04/07/1952
Officers Title		Nationality
Present Appointments	17	Function	Director
Appointment Date	09/10/2003
Address	46 THORNCLIFFE PARK ORWELL ROAD, DUBLIN 14
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	PAUL MACQUILLAN	Date of Birth	23/06/1958
Officers Title		Nationality
Present Appointments	2	Function	Director
Appointment Date	24/09/2010
Address	OLD BRIDGE HOUSE KILCARNE, NAVAN, CO. MEATH
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	PADRAIG MCLOUGHLIN	Date of Birth	06/05/1960
Officers Title		Nationality
Present Appointments	10	Function	Director
Appointment Date	26/09/1984
Address	1 IONA DRIVE GLASNEVIN, DUBLIN 9

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
DONALD WILLIAMSON	0	7
KIERAN MCLOUGHLIN	6	2
JOSEPH CARR	9	10
DONAL O'BRIEN	13	7

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	8

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:	02/08/06
Date Charge Registered:	14/08/06
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	THE GOVERNOR & CO OF THE BANK OF IRELAND
Amount Secured:
Details:	Each and every liability which the Company may at 2 August 2006 or thereafter have to The Governor and Company of the Bank of Ireland (the "Bank") (whether solely or jointly with one or more persons, whether under the Finance Documents or otherwise, whether as principal or as surety or in some other capacity and whether originally incurred by the Company or by some other person) and every sum (of principal, interest or otherwise) at 2 August 2006 or thereafter owing, due or incurred by the Company in respect of such liabilities. Defined terms have the meaning given to them in the Annex to this Form.

Mortgage Type:	A charge on land, wherever situate, or any interest therein, but not including a charge for any rent
Date Charge Created:	18/01/05
Date Charge Registered:	08/02/05
Date Charge Satisfied:	09/10/06
Status:	FULLY SATISFIED
Person(s) Entitled:	BANK OF SCOTLAND (IRELAND) LIMITED,
Amount Secured:
Details:

Mortgage Type:	A floating charge on the undertakings or property of the company.
Date Charge Created:	18/01/05
Date Charge Registered:	08/02/05
Date Charge Satisfied:	07/09/06
Status:	FULLY SATISFIED
Person(s) Entitled:	BANK OF SCOTLAND (IRELAND) LIMITED,
Amount Secured:
Details:

Mortgage Type:	A charge on land, wherever situate, or any interest therein, but not including a charge for any rent
Date Charge Created:	15/10/04
Date Charge Registered:	02/11/04
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	THE GOVERNOR & CO OF THE BANK OF IRELAND
Amount Secured:
Details:

Mortgage Type:	DEBENTURE.
Date Charge Created:	08/09/99
Date Charge Registered:	23/09/99
Date Charge Satisfied:	09/06/05
Status:	FULLY SATISFIED
Person(s) Entitled:	THE GOVERNOR AND COMPANY 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

Mortgage Type:	DEED OF CHARGE.
Date Charge Created:	08/09/99
Date Charge Registered:	23/09/99
Date Charge Satisfied:	09/06/05
Status:	FULLY SATISFIED
Person(s) Entitled:	THE GOVERNOR AND COMPANY 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

Mortgage Type:	DEED OF COLLATERAL MORTGAGE.
Date Charge Created:	24/09/96
Date Charge Registered:	27/09/96
Date Charge Satisfied:	09/06/05
Status:	FULLY SATISFIED
Person(s) Entitled:	TEAMWOOD INVESTMENTS LIMITED
Amount Secured:
Details:	ALL SUMS DUE OR TO BECOME DUE

Mortgage Type:	DEED OF COLLATERAL MORTGAGE.
Date Charge Created:	24/09/96
Date Charge Registered:	27/09/96
Date Charge Satisfied:	09/06/05
Status:	FULLY SATISFIED
Person(s) Entitled:	ICC BANK PLC
Amount Secured:
Details:	ALL SUMS DUE OR TO BECOME DUE

Mortgage Type:	DEED OF MORTGAGE.
Date Charge Created:	24/09/96
Date Charge Registered:	27/09/96
Date Charge Satisfied:	09/06/05
Status:	FULLY SATISFIED
Person(s) Entitled:	ICC BANK PLC
Amount Secured:
Details:	ALL SUMS NOW DUE OR HEREAFTER TO BECOME DUE FROM THE COMPANY TO THE PERSON(S) ENTITLED

Mortgage Type:	A MORTGAGE DEBENTURE.
Date Charge Created:	29/06/95
Date Charge Registered:	30/06/95
Date Charge Satisfied:	15/02/03
Status:	FULLY SATISFIED
Person(s) Entitled:	ALLIED IRISH BANKS PLC
Amount Secured:
Details:	ALL SUMS DUE OR TO BECOME DUE

Mortgage Type:	EQUITABLE MORTGAGE - DEPOSIT TITLE DEEDS/LAND.
Date Charge Created:	16/12/91
Date Charge Registered:	19/12/91
Date Charge Satisfied:	15/02/03
Status:	FULLY SATISFIED
Person(s) Entitled:	ALLIED IRISH BANKS PLC
Amount Secured:
Details:	ALL SUMS NOW DUE OR HEREAFTER TO BECOME DUE FROM THE COMPANY TO THE PERSON(S) ENTITLED

SHARE & SHARE CAPITAL INFORMATION

Share Capital

€1,270

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value
MR KIERAN MCLOUGHLIN	EUR	491	ORDINARY	1.27
MR PADRAIG MCLOUGHLIN	EUR	491	ORDINARY	1.27
MRS GRAINNE SCOTT	EUR	6	ORDINARY	1.27
MRS ORLA DONNELLY	EUR	6	ORDINARY	1.27
MR MICHAEL MCLOUGHLIN	EUR	6	ORDINARY	1.27

Unable to report percentage holdings as filed Shareholder listing is not full.

PAYMENT INFORMATION

Payment Information Summary

Days Beyond Terms

Trend Indicator

                 Average Payment Experience  

N/A	27
Company DBT	UK Average DBT

Steady

Improving Worsening

Be the first to leave a payment experience
for this company Click Here

Within Terms 91+ Days

Creditor Details

No Creditor Data

Total Value

-

Trade Debtors / Bad Debt Detail

No Debtor Data

Total Value

-

Average Invoice Value	n/a
Invoices available	n/a
Paid	n/a
Outstanding	n/a

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

	Within Terms	0-30 Days	31-60 Days	61-90 Days	91+ Days
Paid
Outstanding

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	5 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	MCLOUGHLIN & SONS HARDWARE HOLDINGS LIMITED
Ownership Status	Ultimately Owned
Ultimate Holding Company	MCLOUGHLIN & SONS HARDWARE HOLDINGS LIMITED

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Rating	Limit	Turnover
MCLOUGHLIN & SONS HARDWA...	IE103395	31.12.2011	Y	55	€80,000	€17,094,521
MCLOUGHLIN & SONS HARD...	IE352178	31.12.2011	N	87	€125,000	€17,093,566
WOODCHASE HOLDINGS L...	IE375883	31.12.2011	N	92	€1,000
R - S SALES LIMITED	IE044325	31.12.2011	N	93	€50,000
R. S. SALES (N.I.)...	NI025311	31.12.2012	N	91	£25,000

FINANCIAL INFORMATION

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/12/2011	€17,094,521	€150,875	€3,890,179	73
31/12/2010	€18,306,856	€513,633	€3,759,272	75
31/12/2009	€18,083,017	-€548,753	€3,356,643	73

Profit & Loss

Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	EUR	(%)	EUR	(%)	EUR	(%)	EUR	(%)	EUR
Consolidated A/cs	Y	(%)	Y	(%)	Y	(%)	Y	(%)	Y
Turnover	€17,094,521	-6.6%	€18,306,856	1.2%	€18,083,017	-36%	€28,268,648	-13.2%	€32,565,371
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	€10,741,947	-6.1%	€11,444,826	-1.5%	€11,613,448	-38.7%	€18,937,279	-11.5%	€21,396,086
Gross Profit	€6,352,574	-7.4%	€6,862,030	6.1%	€6,469,569	-30.7%	€9,331,369	-16.5%	€11,169,285
Wages & Salaries	€2,574,352	-0.7%	€2,591,612	-5.9%	€2,753,629	-38.5%	€4,475,290	-12.4%	€5,109,966
Directors Emoluments	€111,320	-58.6%	€268,813	7.1%	€250,963	-59.1%	€613,733	21.4%	€505,552
Operating Profit	€650,314	-36.5%	€1,024,460	999.9%	€78,385	148.1%	-€162,816	-128.8%	€564,528
Depreciation	€363,349	-8.9%	€398,674	-13.8%	€462,712	-13.3%	€533,787	6.6%	€500,962
Audit Fees	€26,752	4.7%	€25,550	-5.5%	€27,051	44.7%	€18,700	-65.7%	€54,567
Interest Payments	€499,439	-2.2%	€510,827	-18.5%	€627,138	-29.7%	€891,982	2.9%	€867,035
Pre Tax Profit	€150,875	-70.6%	€513,633	193.6%	-€548,753	48.1%	-€1,058,055	-249.8%	-€302,461
Taxation	-€25,450	78.3%	-€117,074	-219.1%	-€36,691	-155.9%	€65,613	118.9%	€29,971
Profit After Tax	€125,425	-68.4%	€396,559	167.7%	-€585,444	41%	-€992,442	-264.2%	-€272,490
Dividends Payable	-	-	-	-	-	-100%	€172,797	80.8%	€95,590
Retained Profit	€125,425	-68.4%	€396,559	167.7%	-€585,444	49.8%	-€1,165,239	-216.6%	-€368,080

Balance Sheet

Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
Tangible Assets	€8,649,391	-3.7%	€8,978,923	-3.4%	€9,297,717	-4.7%	€9,754,327	-3.4%	€10,098,574
Intangible Assets	€3,260,811	-	€3,260,811	-	€3,260,811	-	€3,260,811	-	€3,260,811
Total Fixed Assets	€11,910,202	-2.7%	€12,239,734	-2.5%	€12,558,528	-3.5%	€13,015,138	-2.6%	€13,359,385
Stock	€2,176,774	-22.6%	€2,812,016	10.8%	€2,537,042	-32.7%	€3,767,255	-15.1%	€4,437,306
Trade Debtors	€2,860,162	-3.8%	€2,974,391	-11.2%	€3,350,549	-48.7%	€6,527,176	-5.7%	€6,919,730
Cash	€9,412	-72.3%	€34,025	18.1%	€28,803	-51.1%	€58,873	-57.4%	€138,112
Other Debtors	€229,478	23.8%	€185,414	-66.8%	€558,728	9.7%	€509,370	-15.1%	€600,166
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	€5,275,826	-12.2%	€6,005,846	-7.2%	€6,475,122	-40.4%	€10,862,674	-10.2%	€12,095,314
Trade Creditors	€1,062,792	17.8%	€902,147	-34.8%	€1,383,049	-55.3%	€3,093,771	-12.3%	€3,528,824
Bank Loans & Overdrafts	€4,019,933	-3.6%	€4,170,255	-9.5%	€4,609,899	-30.8%	€6,658,827	26.8%	€5,250,993
Other Short Term Finance	€200,016	-20.5%	€251,508	66%	€151,506	70.9%	€88,628	-	0
Miscellaneous Current Liabilities	€1,183,286	4.9%	€1,128,127	-4.7%	€1,183,235	-33.8%	€1,787,018	-31.5%	€2,609,194
Total Current Liabilities	€6,466,027	0.2%	€6,452,037	-11.9%	€7,327,689	-37%	€11,628,244	2.1%	€11,389,011
Bank Loans & Overdrafts and LTL	€10,849,755	-11.1%	€12,204,526	-5.8%	€12,959,217	-13.5%	€14,985,134	5.9%	€14,143,737
Other Long Term Finance	€370,728	-34.8%	€569,002	83.5%	€310,000	-	0	-	0
Total Long Term Liabilities	€6,829,822	-15%	€8,034,271	-3.8%	€8,349,318	0.3%	€8,326,307	-6.4%	€8,892,744

Capital & Reserves

Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
Called Up Share Capital	€1,270	-	€1,270	-	€1,270	-	€1,270	-	€1,270
P & L Account Reserve	€3,961,458	3.3%	€3,836,033	11.5%	€3,439,474	-14.5%	€4,024,918	-22.5%	€5,190,157
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-€72,549	7%	-€78,031	7.2%	-€84,101	18.3%	-€102,927	-456.9%	-€18,483
Shareholder Funds	€3,890,179	3.5%	€3,759,272	12%	€3,356,643	-14.4%	€3,923,261	-24.2%	€5,172,944

Other Financial Items

Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
Net Worth	€629,368	26.3%	€498,461	420.1%	€95,832	-85.5%	€662,450	-65.4%	€1,912,133
Working Capital	-€1,190,201	-166.7%	-€446,191	47.7%	-€852,567	-11.4%	-€765,570	-208.4%	€706,303
Total Assets	€17,186,028	-5.8%	€18,245,580	-4.1%	€19,033,650	-20.3%	€23,877,812	-6.2%	€25,454,699
Total Liabilities	€13,295,849	-8.2%	€14,486,308	-7.6%	€15,677,007	-21.4%	€19,954,551	-1.6%	€20,281,755
Net Assets	€3,890,179	3.5%	€3,759,272	12%	€3,356,643	-14.4%	€3,923,261	-24.2%	€5,172,944

Cash Flow

Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
Net Cashflow from Operations	€1,644,258	0.9%	€1,629,177	-45.2%	€2,970,938	662.9%	€389,429	-78.4%	€1,803,124
Net Cashflow before Financing	€1,131,884	11.1%	€1,018,915	-55.8%	€2,305,847	202.5%	€762,158	17.9%	€646,180
Net Cashflow from Financing	-€1,156,497	-14.1%	-€1,013,693	56.6%	-€2,335,917	-177.6%	-€841,397	-23.9%	-€679,224
Increase in Cash	-€24,613	-571.3%	€5,222	117.4%	-€30,070	62.1%	-€79,239	-139.8%	-€33,044

Miscellaneous

Date Of Accounts	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08	(%)	31/12/07
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	€10,720,001	-9.1%	€11,793,543	0.7%	€11,705,961	-4.4%	€12,249,568	-12.9%	€14,065,688

Ratios

Date Of Accounts	31/12/11			31/12/10			31/12/09			31/12/08		31/12/07
Pre-tax profit margin %	0.88			2.81			-3.03			-3.74		-0.93
Current ratio	0.82			0.93			0.88			0.93		1.06
Sales/Net Working Capital	-14.36			-41.03			-21.21			-36.92		46.11
Gearing %	278.90			324.70			386.10			382		273.40
Equity in %	27.90			25.10			21.30			19		23.30
Creditor Days	22.63			17.93			27.83			39.83		39.44
Debtor Days	60.90			59.14			67.44			84.04		77.34
Liquidity/Acid Test	0.47			0.49			0.53			0.61		0.67
Return On Capital Employed %	1.40			4.35			-4.68			-8.63		-2.15
Return On Total Assets Employed %	0.87			2.81			-2.88			-4.43		-1.18
Current Debt Ratio	1.66			1.71			2.18			2.96		2.20
Total Debt Ratio	3.41			3.85			4.67			5.08		3.92
Stock Turnover Ratio %	12.73			15.36			14.02			13.32		13.62
Return on Net Assets Employed %	3.87			13.66			-16.34			-26.96
Number of Employees		73	-2.7%		75	2.7%		73	-26.3%		99		-5.7%	105
Auditors		BASTOW CHARLETON
Auditor Comments		The audit report contains no adverse comments
Bankers		BANK OF IRELAND
Bank Branch Code		90-14-90

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

SIC03	51540
SIC03 Description	Wholesale of hardware, plumbing and heating equipment and supplies
SIC07	46740
SIC07 Description	WHOLESALE OF HARDWARE, PLUMBING AND HEATING EQUIPMENT AND SUPPLIES
Principal Activity	A group engaged in the sale and distribution of hardware products.

Current Company Secretary

Name	LIAM ROCHE	Date of Birth	04/07/1952
Officers Title		Nationality
Present Appointments	17	Function	Company Secretary
Appointment Date	18/10/2004
Address	46 THORNCLIFFE PARK ORWELL ROAD, DUBLIN 14

Status History

No Status History found

Event History

Date	Description
25/10/2012	New Accounts Filed
25/10/2012	New Accounts Filed
13/10/2012	Annual Returns
01/09/2012	New Board Member (COLM MICHAEL DEIGNAN) appointed
18/08/2012	DONALD WILLIAMSON has left the board
15/06/2012	DONAL O'BRIEN has left the board
15/09/2011	New Board Member (DONALD WILLIAMSON) appointed
28/06/2011	New Accounts Filed
28/06/2011	New Accounts Filed
24/06/2011	Annual Returns
27/11/2010	New Accounts Filed
27/11/2010	New Accounts Filed
20/11/2010	Annual Returns
24/09/2010	New Board Member (PAUL MACQUILLAN) appointed
24/09/2010	New Board Member (DONAL O'BRIEN) appointed

Previous Company Names

Date	Previous Name	Companies House Documents
N/A	MICHAEL MCLOUGHLIN & SONS HARDWARE LIMITED

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.

There has been no significant change in the company's credit rating.

The credit limit on this company has fallen 23.8% in comparison to the previously suggested credit limit.

Sales in the latest trading period decreased 6.6% on the previous trading period.

Net Worth increased by 26.3% during the latest trading period.

A 5.8% decline in Total Assets occurred during the latest trading period.

Pre-tax profits decreased by 70.6% compared to the previous trading period.

The company saw a decrease in their Cash Balance of 72.3% during the latest trading period.

The audit report contains no adverse comments.

No recent changes in directorship are recorded.

The company is part of a group.

The company was established over 29 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.62
UK Pound	1	Rs.100.84
Euro	1	Rs.84.98

INFORMATION DETAILS

Report Prepared by :

NNA

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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