MIRA INFORM REPORT

Report Date :

09.01.2013

IDENTIFICATION DETAILS

Name :	CAFFREY NATURAL STONE LIMITED
Formerly Known As :	CAFFREY NATURAL STONE SPECIALISTS LIMITED
Registered Office :	Marsh Road, Drogheda Co Louth 214002
Country :	Ireland
Financials (as on) :	30.04.2012
Date of Incorporation :	26.06.1998
Com. Reg. No.:	IE289113
Legal Form :	Private limited with Share Capital
Line of Business :	Quarrying of Stone for Construction
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: CAFFREY NATURAL STONE LIMITED

Company No: IE289113

Registered Address:

MARSH ROAD

DROGHEDA

CO LOUTH

214002

Company Name	CAFFREY NATURAL STONE LIMITED	Company Number	IE289113
Registered Address	MARSH ROAD
	DROGHEDA
	CO LOUTH
	214002
Website Address	-
Telephone Number		Fax Number
TPS	No	FPS	No
Incorporation Date	26/06/1998	Company Status	Active - Accounts Filed
Previous Name	CAFFREY NATURAL STONE SPECIALISTS LIMITED	Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	-
		Share Capital	€300
SIC03	1411	Currency	EUR
SIC03 Description	QUARRYING OF STONE FOR CONSTRUCTION
SIC07	08110
SIC07 Description	QUARRYING OF ORNAMENTAL AND BUILDING STONE, LIMESTONE, GYPSUM, CHALK AND SLATE
Principal Activity

Accounts Due Date –

Commentary

There has been no significant change in the company's credit rating.
The credit limit on this company has risen 300% in comparison to the previously suggested credit limit.
There is insufficient data to indicate a change in this companies percentage of sales.
Net Worth decreased by 12% during the latest trading period.
A 0.9% 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 a decrease in their Cash Balance of 100% 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 negative change in the P&L Account Reserve suggests that the company made a loss after tax and other appropriations.
The company was established over 14 years ago.

Last 3 Years Credit Rating/Limit

Date	Rating	Limit
31/12/2012	80	€50,000
31/12/2011	76	€50,000
31/12/2010	44	€14,500

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
30/04/2012	-	-	€501,227	-
30/04/2011	-	-	€569,267	-
30/04/2010	-	-	€566,677	-

Payment Information Summary

Days Beyond Terms

Trend Indicator

                         Average Payment Experience  

N/A	10
Company DBT	IE Average DBT

Steady

Improving Worsening

Within Terms 91+ 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	0
Satisfied	0

Total Current Directors	6
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	3

Current Directors

Name	MALACHY CAFFREY	Date of Birth	17/11/1941
Officers Title		Nationality
Present Appointments	3	Function	Director
Appointment Date	21/03/2006
Address	2 RATHMULLEN ROAD, DROGHEDA, COUNTY LOUTH
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	DAVID CAFFREY	Date of Birth	17/04/1965
Officers Title		Nationality
Present Appointments	6	Function	Director
Appointment Date	30/04/2008
Address	ALMONDSTOWN, CLOGHERHEAD, CO. LOUTH
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	MYRA CAFFREY	Date of Birth	17/03/1943
Officers Title		Nationality
Present Appointments	6	Function	Director
Appointment Date	21/03/2006
Address	2 RATHMULLEN ROAD, DROGHEDA, CO LOUTH
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	LORNA O'REILLY	Date of Birth	03/09/1968
Officers Title		Nationality
Present Appointments	4	Function	Director
Appointment Date	21/03/2006
Address	MATTHEWS LANE, DROGHEDA, CO LOUTH
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	TONY CAFFREY	Date of Birth	03/06/1966
Officers Title		Nationality
Present Appointments	3	Function	Director
Appointment Date	30/04/2008
Address	MATTHEW'S LANE, DROGHEDA, CO. LOUTH
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	FRAN CAFFREY	Date of Birth	12/03/1974
Officers Title		Nationality
Present Appointments	2	Function	Director
Appointment Date	21/03/2006
Address	GARROLAGH, CLOGERHEAD, CO LOUTH
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	MYRA CAFFREY	Date of Birth	17/03/1943
Officers Title		Nationality
Present Appointments	6	Function	Company Secretary
Appointment Date	21/03/2006
Address	2 RATHMULLEN ROAD, DROGHEDA, CO LOUTH
Other Actions
Disqualified		Disqualified End Date
Disqualification Exception	No

Top 20 Shareholders

Name	Individual Share Value
ANTHONY CAFFREY	7,500 ORDINARY EUR 0.01
DAVID CAFFREY	7,500 ORDINARY EUR 0.01
MALACHY CAFFREY	5,998 ORDINARY EUR 0.01
FRAN CAFFREY	4,500 ORDINARY EUR 0.01
LORNA O'REILLY	4,500 ORDINARY EUR 0.01
MYRA CAFFREY	2 ORDINARY EUR 0.01

Profit & Loss

	Date Of Accounts	30/04/12	(%)	30/04/11	(%)	30/04/10	(%)	30/04/09	(%)	30/04/08
	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	-	-	-	-	-	-	-	-	-
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	30/04/12	(%)	30/04/11	(%)	30/04/10	(%)	30/04/09	(%)	30/04/08
	Tangible Assets	€280,109	-9.6%	€309,703	-17.6%	€375,690	-20.4%	€471,759	-9%	€518,689
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	€280,109	-9.6%	€309,703	-17.6%	€375,690	-20.4%	€471,759	-9%	€518,689
	Stock	€602,202	9.7%	€548,793	-12.4%	€626,515	-11.8%	€710,040	0.5%	€706,590
	Trade Debtors	€464,263	-8%	€504,748	-20.8%	€637,113	11.6%	€570,948	-28.3%	€796,746
	Cash	0	-100%	€2,136	-	0	-	0	-100%	€64,315
	Other Debtors	0	-	0	-	0	-	0	-	0
	Miscellaneous Current Assets	€7,338	999.9%	€227	-	0	-	0	-	0
	Total Current Assets	€1,073,803	1.7%	€1,055,904	-16.4%	€1,263,628	-1.4%	€1,280,988	-18.3%	€1,567,651
	Trade Creditors	€796,492	5%	€758,277	62.5%	€466,576	-14%	€542,700	-15.8%	€644,155
	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
	Other Short Term Finance	0	-100%	€10,438	-23.6%	€13,657	-71.9%	€48,570	-50%	€97,104
	Miscellaneous Current Liabilities	€56,193	103.4%	€27,625	-51.4%	€56,836	221.3%	€17,688	-26.4%	€24,042
	Total Current Liabilities	€852,685	7.1%	€796,340	48.3%	€537,069	-11.8%	€608,958	-20.4%	€765,301
	Bank Loans & Overdrafts and LTL	0	-	0	-100%	€535,572	-9.4%	€591,438	-25.2%	€790,685
	Other Long Term Finance	0	-	0	-100%	€516,151	-4.7%	€541,324	-26.9%	€740,571
	Total Long Term Liabilities	0	-	0	-100%	€535,572	-9.4%	€591,438	-25.2%	€790,685

Capital & Reserves

	Date Of Accounts	30/04/12	(%)	30/04/11	(%)	30/04/10	(%)	30/04/09	(%)	30/04/08
	Called Up Share Capital	€300	-	€300	-	€300	-	€300	-	€300
	P & L Account Reserve	€37,759	-64.3%	€105,799	2.5%	€103,209	16.1%	€88,883	32.9%	€66,886
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	€463,168	-	€463,168	-	€463,168	-	€463,168	-	€463,168
	Shareholder Funds	€501,227	-12%	€569,267	0.5%	€566,677	2.6%	€552,351	4.1%	€530,354

Other Financial Items

	Date Of Accounts	30/04/12	(%)	30/04/11	(%)	30/04/10	(%)	30/04/09	(%)	30/04/08
	Net Worth	€501,227	-12%	€569,267	0.5%	€566,677	2.6%	€552,351	4.1%	€530,354
	Working Capital	€221,118	-14.8%	€259,564	-64.3%	€726,559	8.1%	€672,030	-16.2%	€802,350
	Total Assets	€1,353,912	-0.9%	€1,365,607	-16.7%	€1,639,318	-6.5%	€1,752,747	-16%	€2,086,340
	Total Liabilities	€852,685	7.1%	€796,340	-25.8%	€1,072,641	-10.6%	€1,200,396	-22.9%	€1,555,986
	Net Assets	€501,227	-12%	€569,267	0.5%	€566,677	2.6%	€552,351	4.1%	€530,354

Cash Flow

	Date Of Accounts	30/04/12	(%)	30/04/11	(%)	30/04/10	(%)	30/04/09	(%)	30/04/08
	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	30/04/12	(%)	30/04/11	(%)	30/04/10	(%)	30/04/09	(%)	30/04/08
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	€501,227	-12%	€569,267	-48.4%	€1,102,249	-3.6%	€1,143,789	-13.4%	€1,321,039
	Number of Employees	-	-	-	-	-	-	-	-	-
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	30/04/12	30/04/11	30/04/10	30/04/09	30/04/08
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	1.26	1.33	2.35	2.10	2.05
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	0	0	94.50	107.10	149.10
	Equity in %	37	41.70	34.60	31.50	25.40
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	0.55	0.63	1.18	0.93	1.12
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	1.70	1.39	0.94	1.10	1.44
	Total Debt Ratio	1.70	1.39	1.89	2.17	2.93
	Stock Turnover Ratio %	-	-	-	-	-

Status History

No Status History found

Event History

Date	Description
18/09/2012	New Accounts Filed
15/09/2012	Annual Returns
27/02/2012	New Accounts Filed
27/02/2012	New Accounts Filed
25/02/2012	Annual Returns
19/10/2010	Annual Returns
19/10/2010	New Accounts Filed
28/01/2010	Annual Returns
27/01/2010	New Accounts Filed
12/02/2009	Annual Returns
12/02/2009	New Accounts Filed
30/04/2008	New Board Member (TONY CAFFREY) appointed
30/04/2008	New Board Member (DAVID CAFFREY) appointed
26/02/2008	Annual Returns
21/02/2008	New Accounts Filed

Rating History

Date	Rating	Description
12/09/2012	80	Very Good Credit Worthiness
27/04/2012	82	Very Good Credit Worthiness
02/09/2011	76	Very Good Credit Worthiness
12/10/2010	44	Creditworthy
27/01/2010	65	Good Credit Worthiness
21/01/2010	24	Caution - Credit at your discretion
20/02/2009	79	Very Good Credit Worthiness
12/02/2009	73	Very Good Credit Worthiness
05/02/2009	58	Good Credit Worthiness
16/05/2008	56	Good Credit Worthiness

Limit History

Date	Limit
02/09/2011	€50,000
13/05/2011	€12,500
19/10/2010	€14,500
12/10/2010	€13,000
27/01/2010	€25,000
21/01/2010	€0
20/02/2009	€45,000
12/02/2009	€66,000
05/02/2009	€22,000
16/05/2008	€22,000

Previous Company Names

Date	Previous Name	Companies House Documents
N/A	CAFFREY NATURAL STONE SPECIALISTS LIMITED	View Document

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group structure

No group structure

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

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
DAVID GAFFREY	0	2
DAVID GAFFREY	0	2
ANTHONY CAFFREY	0	1

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.33
UK Pound	1	Rs.89.05
Euro	1	Rs.72.57

INFORMATION DETAILS

Report Prepared by :

SDA

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.