MIRA INFORM REPORT

Report Date :

23.01.2013

IDENTIFICATION DETAILS

Name :	BRIAN MURRAY STONE LIMITED
Registered Office :	Glenanommer, Athleague, Co Roscommon 999927
Country :	Ireland
Financials (as on) :	31.10.2011
Date of Incorporation :	10.10.2007
Com. Reg. No.:	IE447418
Legal Form :	Private limited with Share Capital
Line of Business :	Operation of Gravel & Sand Pits
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
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

REGISTERED NAME & COMPANY SUMMARY

Company Name	BRIAN MURRAY STONE LIMITED	Company Number	IE447418
Registered Address	GLENANOMMER
	ATHLEAGUE
	CO ROSCOMMON
	999927
Website Address	-
Telephone Number	-	Fax Number
TPS	-	FPS	No
Incorporation Date	10/10/2007	Company Status	Active - Accounts Filed
Previous Name		Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	-
		Share Capital	€100
SIC03	1421	Currency	EUR
SIC03 Description	OPERATION OF GRAVEL & SAND PITS
SIC07	08120
SIC07 Description	OPERATION OF GRAVEL AND SAND PITS
Principal Activity

DIRECTORS/MANAGEMENT

Directors

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

Current Directors

Name	BRIAN MURRAY	Date of Birth	31/12/1949
Officers Title		Nationality
Present Appointments	2	Function	Director
Appointment Date	10/10/2007
Address	GLENANOMMER, ATHLEAGUE, CO. ROSCOMMON
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	MARGARET MURRAY	Date of Birth	30/04/1952
Officers Title		Nationality
Present Appointments	1	Function	Director
Appointment Date	10/10/2007
Address	GLENANOMMER, ATHLEAGUE, CO. ROSCOMMON
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	LAURA MURRAY	Date of Birth	25/02/1986
Officers Title		Nationality
Present Appointments	1	Function	Director
Appointment Date	08/07/2008
Address	SCRINE, ATHLEAGUE, CO. ROSCOMMON
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	BRIAN MURRAY	Date of Birth	31/12/1949
Officers Title		Nationality
Present Appointments	2	Function	Company Secretary
Appointment Date	11/10/2007
Address	GLENANOMMER, ATHLEAGUE, CO. ROSCOMMON
Other Actions
Disqualified		Disqualified End Date
Disqualification Exception	No

Directors

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
COMPANY SERVICES LIMITED	5933	15926

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

Mortgage Summary

Outstanding	0
Satisfied	0

Full CCJ Details

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

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Individual Share Value
MARGARET MURRAY	50 ORDINARY EUR 1.00
BRIAN MURRAY	50 ORDINARY EUR 1.00

PAYMENT INFORMATION

Summary – Payment History

Last 3 Years Credit Rating/Limit

Date	Rating	Limit
31/12/2012	42	€500
31/12/2011	45	€500
31/12/2010	68	€5,000

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/10/2011	-	-	-€53,033	-
31/10/2010	-	-	-€28,131	-
31/10/2009	-	-	€76,700	-

Payment Information Summary

Days Beyond Terms

Trend Indicator

                         Average Payment Experience  

N/A	10
Company DBT	IE Average DBT

Steady

Improving Worsening

Be the first to leave a payment experience
for this company

Within Terms

Creditor & Debtor Details

Creditor Details

No Creditor Data

Total Value

-

Trade Debtors / Bad Debt Detail

No Debtor Data

Total Value

-

GROUP STRUCTURE & AFFILIATED COMPANIES

Group Structure

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group structure

No group structure

Linkages

Statistics

Group	0 companies
Linkages	0 companies
Countries	In 0 countries

FINANCIAL INFORMATION

Financials

Profit & Loss

	Date Of Accounts	31/10/11	(%)	31/10/10	(%)	31/10/09	(%)	31/10/08	(%)	-
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	-
	Currency	EUR	(%)	EUR	(%)	EUR	(%)	EUR	(%)	-
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	-
	Turnover	-	-	-	-	-	-	-	-	-
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	-	-	-	-	-	-	-	-	-
	Gross Profit	-	-	-	-	-	-	-	-	-
	Wages & Salaries	-	-	-	-	-	-	-	-	-
	Directors Emoluments	-	-	-	-	-	-	-	-	-
	Operating Profit	-	-	-	-	-	-	-	-	-
	Depreciation	€32,286	-13.9%	€37,492	-14%	€43,588	10.4%	€39,495	-	-
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/10/11	(%)	31/10/10	(%)	31/10/09	(%)	31/10/08	(%)	-
	Tangible Assets	€209,415	-13.4%	€241,701	-13.4%	€279,193	14.4%	€244,052	-	-
	Intangible Assets	0	-	0	-	0	-	0	-	-
	Total Fixed Assets	€209,415	-13.4%	€241,701	-13.4%	€279,193	14.4%	€244,052	-	-
	Stock	0	-	0	-	0	-	0	-	-
	Trade Debtors	€38,706	-46.5%	€72,307	-66.4%	€215,174	26.4%	€170,225	-	-
	Cash	€1,463	-48.4%	€2,835	-93.5%	€43,509	-74.4%	€169,838	-	-
	Other Debtors	0	-	0	-	0	-	0	-	-
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	-
	Total Current Assets	€40,169	-46.5%	€75,142	-71%	€258,683	-23.9%	€340,063	-	-
	Trade Creditors	€302,617	-6.7%	€324,267	-18.8%	€399,111	5.3%	€378,945	-	-
	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	-
	Other Short Term Finance	0	-	0	-	0	-	0	-	-
	Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-	-
	Total Current Liabilities	€302,617	-6.7%	€324,267	-18.8%	€399,111	5.3%	€378,945	-	-
	Bank Loans & Overdrafts and LTL	0	-100%	€20,707	-66.6%	€62,065	-12.3%	€70,803	-	-
	Other Long Term Finance	0	-	0	-	0	-	0	-	-
	Total Long Term Liabilities	0	-100%	€20,707	-66.6%	€62,065	-12.3%	€70,803	-	-

Capital & Reserves

	Date Of Accounts	31/10/11	(%)	31/10/10	(%)	31/10/09	(%)	31/10/08	(%)	-
	Called Up Share Capital	€2	-	€2	-	€2	-	€2	-	-
	P & L Account Reserve	-€53,035	-88.5%	-€28,133	-136.7%	€76,698	-42.9%	€134,365	-	-
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	-€53,033	-88.5%	-€28,131	-136.7%	€76,700	-42.9%	€134,367	-	-

Other Financial Items

	Date Of Accounts	31/10/11	(%)	31/10/10	(%)	31/10/09	(%)	31/10/08	(%)	-
	Net Worth	-€53,033	-88.5%	-€28,131	-136.7%	€76,700	-42.9%	€134,367	-	-
	Working Capital	-€262,448	-5.3%	-€249,125	-77.4%	-€140,428	-261.2%	-€38,882	-	-
	Total Assets	€249,584	-21.2%	€316,843	-41.1%	€537,876	-7.9%	€584,115	-	-
	Total Liabilities	€302,617	-12.3%	€344,974	-25.2%	€461,176	2.5%	€449,748	-	-
	Net Assets	-€53,033	-88.5%	-€28,131	-136.7%	€76,700	-42.9%	€134,367	-	-

Cash Flow

	Date Of Accounts	31/10/11	(%)	31/10/10	(%)	31/10/09	(%)	31/10/08	(%)	-
	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	31/10/11	(%)	31/10/10	(%)	31/10/09	(%)	31/10/08	(%)	-
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	-
	Capital Employed	-€53,033	-614.3%	-€7,424	-105.4%	€138,765	-32.4%	€205,170	-	-
	Number of Employees	-	-	-	-	-	-	-	-	-
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers	BANK OF IRELAND
	Bank Branch Code	90-17-73

Ratios

	Date Of Accounts	31/10/11	31/10/10	31/10/09	31/10/08	-
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	0.13	0.23	0.65	0.90	-
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	0	-73.60	80.90	52.70	-
	Equity in %	-21.20	-8.90	14.30	23	-
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	0.13	0.23	0.64	0.89	-
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	-5.70	-11.52	5.20	2.82	-
	Total Debt Ratio	-5.70	-12.26	6.01	3.34	-
	Stock Turnover Ratio %	-	-	-	-	-
	Return on Net Assets Employed %	-	-	-	-

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Commentary

There is insufficient data to indicate a change in this companies percentage of sales.
Net Worth decreased by 88.5% during the latest trading period.
A 21.2% 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 48.4% 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 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 4 years ago.

Event History

Status History

No Status History found

Event History

Date	Description
12/06/2012	New Accounts Filed
12/06/2012	New Accounts Filed
09/06/2012	Annual Returns
14/06/2011	Annual Returns
14/06/2011	New Accounts Filed
14/06/2011	New Accounts Filed
12/06/2010	Annual Returns
11/06/2010	New Accounts Filed
07/07/2009	New Accounts Filed
07/07/2009	Annual Returns
08/07/2008	New Board Member (LAURA MURRAY) appointed
02/07/2008	Annual Returns
01/07/2008	Annual Returns
11/10/2007	COMPANY SERVICES LIMITED has resigned as company secretary
11/10/2007	New Company Secretary (BRIAN MURRAY) appointed

Previous Company Names

No Previous Names found

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.51
UK Pound	1	Rs.84.84
Euro	1	Rs.71.42

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.