MIRA INFORM REPORT

 

 

Report Date :

06.02.2013

 

IDENTIFICATION DETAILS

 

Name :

LISSADELL LIDDELL IRELAND LIMITED

 

 

Registered Office :

21 North Link Retail Park, Coes Road , Dundalk,

 

 

Country :

Ireland

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

22.09.1988

 

 

Com. Reg. No.:

E0135695

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

Wholesale of imported textile goods

 

 

No. of Employees :

12

 

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 :

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 30th, 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

 

LISSADELL LIDDELL IRELAND LIMITED                                                                                                         

 

21 North Link Retail Park

Coes Road

Dundalk,

Ireland

(Registered Address)

 

SYNTHESIS

 

Employees:                   12

Company Type:             Private Subsidiary

Incorporation Date:         22-Sep-1988

Auditor:                         UHY Farrelly Dawe White Ltd

Financials in:                 USD (mil)

Fiscal Year End:            31-Mar-2012

Reporting Currency:       Euro

Annual Sales:                NA

Total Assets:                 3.0

 

Business Description     

 

 

The wholesale of imported textile goods.

 

 Industry     

 

Industry                 Apparel and Accessories

ANZSIC 2006:        3711 - Textile Product Wholesaling

NACE 2002:          5141 - Wholesale of textiles

NAICS 2002:          424310 - Piece Goods, Notions, and Other Dry Goods Merchant Wholesalers

UK SIC 2003:         5141 - Wholesale of textiles

UK SIC 2007:         4641 - Wholesale of textiles

US SIC 1987:         5131 - Piece Goods, Notions, and Other Dry Good

                      

Key Executives   

   

 

Name

Title

Dan Wright

Director

Marc Wynne

Director

Registered No.(IRE): E0135695

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7269425
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7534632

 

Corporate Overview

 

Location
21 North Link Retail Park
Coes Road
Dundalk, Co Louth County
Ireland

 

 

 

Sales EUR(mil):             NA

Assets EUR(mil):           2.3

Employees:                   12

Fiscal Year End:            31-Mar-2012

 

Industry:                      Apparel and Accessories

Incorporation Date:           22-Sep-1988

Company Type:               Private Subsidiary

Quoted Status:                Not Quoted

Registered No.(IRE):        E0135695

 

Director:                         Marc Wynne

 

 

Industry Codes

 

ANZSIC 2006 Codes:

3711

-

Textile Product Wholesaling

 

NACE 2002 Codes:

5141

-

Wholesale of textiles

 

NAICS 2002 Codes:

424310

-

Piece Goods, Notions, and Other Dry Goods Merchant Wholesalers

 

US SIC 1987:

5131

-

Piece Goods, Notions, and Other Dry Good

 

UK SIC 2003:

5141

-

Wholesale of textiles

 

UK SIC 2007:

4641

-

Wholesale of textiles

 

 

 

Business Description     

 

 

The wholesale of imported textile goods.

 

 

Financial Data

Financials in:

EUR(mil)

 

Assets:

2.3

Total Liabilities:

1.8

 

Working Capital:

0.3

 

Net Worth:

0.4

 

 

 

Date of Financial Data:

31-Mar-2012

 

1 Year Growth

NA

 

 

Key Corporate Relationships

Auditor:

UHY Farrelly Dawe White Ltd

 

Auditor:

UHY Farrelly Dawe White Ltd

 

 

 

 

 

Executives Report

 

Board of Directors

 

Name                            Title                  Function

 

Dan Wright                    Director             Director/Board Member

Marc Wynne                  Director             Director/Board Member

 

 

 

 

 

Annual Profit & Loss

 

 

 

 

31-Mar-2012

31-Mar-2011

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

65 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate (Period Average)

0.726943

0.757168

0.719047

0.683679

Consolidated

No

No

No

No

 

 

 

 

 

Gross Profit

2.2

1.9

1.8

2.8

Operating Profit

-0.2

0.0

-0.2

0.0

Non Trading Income

0.0

0.0

-

0.0

Interest Expenses

0.0

0.0

0.0

-

Pretax Profit

-0.3

-0.1

-0.2

0.0

Taxation

-

0.0

0.0

0.0

Profit after Tax

-0.3

-0.1

-0.2

0.0

Retained Profits

-0.3

-0.1

-0.2

0.0

Value Added

0.7

0.6

0.4

0.8

Wages And Salaries

0.8

0.5

0.5

0.7

Directors’ Emoluments

0.1

0.1

0.2

0.1

Auditors Fees

0.0

0.0

0.0

0.0

Depreciation

0.0

0.1

0.0

0.0

Number of Employees

12

10

10

13

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Mar-2012

31-Mar-2011

31-Dec-2009

31-Dec-2008

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate

0.753463

0.704672

0.696986

0.719399

Consolidated

No

No

No

No

 

 

 

 

 

Tangible Assets

0.2

0.2

0.2

0.2

Intangible Assets

0.0

0.0

0.0

0.0

Total Fixed Assets

0.2

0.2

0.2

0.3

Stocks

1.1

1.0

0.9

1.6

Trade Debtors

1.1

1.4

1.5

3.5

Cash

0.5

0.3

0.1

0.2

Miscellaneous Current Assets

0.1

0.3

0.1

0.1

Other Current Assets

0.6

0.6

0.3

0.3

Total Current Assets

2.8

3.0

2.7

5.4

Total Assets

3.0

3.1

2.9

5.6

Net assets

0.6

1.0

1.1

1.3

Total Current Liabilities

2.4

2.2

1.8

4.4

Total Debt

0.7

0.9

0.9

2.3

Total Long Term Liabilities

0.0

0.0

0.0

0.1

Total Liabilities

2.4

2.2

1.9

4.4

Profit & Loss Account Reserve

0.6

0.9

1.0

1.2

Shareholders Funds

0.6

0.9

1.0

1.2

Capital Employed

0.6

1.0

1.1

1.3

Net Worth

0.6

0.9

1.0

1.2

Working Capital

0.5

0.8

0.8

1.0

Fixed Assets

0.2

0.2

0.2

0.2

Liquid Assets

1.7

1.9

1.7

3.8

Trade Creditors

1.6

1.2

0.8

1.4

Bank Overdraft

0.6

0.8

0.8

2.1

Miscellaneous Current Liabilities

0.2

0.3

0.2

0.8

    Other Short Term Finance

0.0

0.1

0.0

0.1

Other Current Liabilities

0.1

0.2

0.2

0.7

Short Term Loans

0.6

0.8

0.8

2.2

    Long Term Loans

0.0

0.0

0.0

0.1

Other Long Term Finance

0.0

0.0

0.0

0.1

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Mar-2012

31-Mar-2011

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

65 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate (Period Average)

0.726943

0.757168

0.719047

0.683679

Consolidated

No

No

No

No

 

 

 

 

 

Net Cashflow From Operating Activities

0.4

0.2

1.4

-1.6

Net Cashflow From ROI & Servicing Of Finance

0.0

0.0

0.0

-

Net Cashflow Before Financing

0.3

0.2

1.4

-1.7

Net Cashflow From Financing

0.0

0.0

0.0

0.0

Increase In Cash

0.3

0.2

1.3

-1.7

Net Cash

-0.1

-0.4

-0.6

-2.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.29

UK Pound

1

Rs.83.96

Euro

1

Rs.71.87

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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.