MIRA INFORM REPORT

Report Date :

19.07.2013

IDENTIFICATION DETAILS

Name :	BASTA PARSONS LIMITED
Formerly Known as:	BASTA HARDWARE LIMITED
Registered Office :	6 Harlech Grove, Clonskeagh, Dublin 14, 216410
Country :	Ireland
Financials (as on) :	31.12.2011
Date of Incorporation :	16.02.1998
Com. Reg. No.:	IE280319
Legal Form :	Private limited with Share Capital
Line of Business :	manufacturer and distributor of hardware and security products.
No. of Employees :	56

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 :	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 – 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

Company name & address

Company Name:	BASTA PARSONS LIMITED
Company No:	IE280319
Registered Address:
6 HARLECH GROVE
CLONSKEAGH
DUBLIN 14
216410

Company summary

Company Name	BASTA PARSONS LIMITED	Company Number	IE280319
Registered Address	6 HARLECH GROVE	Operating Address	Tubbercurry, Co. Sligo
	CLONSKEAGH
	DUBLIN 14
	216410
Website Address	-
Telephone Number		Fax Number
TPS	No	FPS	No
Incorporation Date	16/02/1998	Company Status	Active - Accounts Filed
Previous Name	BASTA HARDWARE LIMITED	Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	-
		Share Capital	€1,143,473
SIC03	20300	Currency	EUR
SIC03 Description	Manufacture of builders' carpentry and joinery
SIC07	16230
SIC07 Description	MANUFACTURE OF OTHER BUILDERS' CARPENTRY AND JOINERY
Principal Activity	The manufacture and distribution of hardware and security products.

Commentary

There has been no significant change in the company's credit rating.
There is insufficient data to indicate a change in this companies percentage of sales.
Net Worth decreased by 14.4% during the latest trading period.
A 2% growth in Total Assets occurred during the latest trading period.
Pre-tax profits increased by 47.2% compared to the previous trading period.
The company saw a decrease in their Cash Balance of 87% 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 15 years ago.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/12/2011	-	-€20,135	€3,075,074	56
31/12/2010	-	-€38,107	€3,605,149	60
31/12/2009	-	-€478,618	€3,451,419	68

Payment Information Summary

Days Beyond Terms

Trend Indicator

                         Average Payment Experience  

N/A	25
Company DBT	UK Average DBT

Steady

Improving Worsening

Be the first to leave a payment experience
for this company
Within Terms91+ 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

Mortgage Summary

Outstanding	1
Satisfied	0

Total Current Directors	3
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	2

Current Directors

Name	KEVIN NORTON	Date of Birth	26/08/1939
Officers Title		Nationality
Present Appointments	11	Function	Director
Appointment Date	23/12/1998
Address	8 SALAMANCA, ARDILEA, DUBLIN 14.

Name	SUSAN URQUHART-KELLY	Date of Birth	05/04/1966
Officers Title		Nationality
Present Appointments	5	Function	Director
Appointment Date	13/06/2000
Address	39 WOODLEY PARK, KILMACUD, DUBLIN 14

Name	PARAIC MORRIN	Date of Birth	11/04/1963
Officers Title		Nationality
Present Appointments	4	Function	Director
Appointment Date	01/01/1999
Address	RINSHINNA, BREFFEY, CASTLEBAR, CO MAYO

Current Company Secretary

Name	PATRICIA CASSIDY	Date of Birth	16/09/1973
Officers Title		Nationality
Present Appointments	5	Function	Company Secretary
Appointment Date	04/12/2000
Address	BULCAUN, CHARLESTOWN, CO. MAYO

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value
BASTA HOLDINGS LTD	EUR	506,672	ORDINARY
ENTERPRISE IRELAND	EUR	500,000	PREFERENCE

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

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	N	N	N	N	N
Turnover	-	-	-	-	-
Export	-	-	-	-	-
Cost of Sales	-	-	-	-	-
Gross Profit	€1,089,642	€1,377,110	€931,029	€1,338,493	€2,325,058
Wages & Salaries	€1,606,084	€1,990,568	€1,990,702	€2,706,867	€3,492,498
Directors Emoluments	€358,563	€364,686	€181,618	€175,936	€206,137
Operating Profit	-€102,318	€25,855	-€365,420	-€1,252,129	€127,941
Depreciation	€345,367	€452,824	€500,131	€560,759	€609,056
Audit Fees	€10,668	€12,706	€12,173	€23,082	€26,969
Interest Payments	€222,817	€178,162	€199,198	€223,234	€209,370
Pre Tax Profit	-€20,135	-€38,107	-€478,618	-€1,313,792	€919,324
Taxation	-	€136,996	-	-€37,760	-€59,202
Profit After Tax	-€20,135	€98,889	-€478,618	-€1,351,552	€860,122
Dividends Payable	€50,667	-	€23,000	€38,569	€506,672
Retained Profit	-€70,802	€98,889	-€501,618	-€1,390,121	€353,450

Balance Sheet

Date Of Accounts	31/12/11	31/12/10	31/12/09	31/12/08	31/12/07
Tangible Assets	€1,466,576	€1,776,215	€2,199,875	€2,599,383	€3,007,705
Intangible Assets	€32,258	€52,258	€66,401	€91,513	€77,241
Total Fixed Assets	€1,498,834	€1,828,473	€2,266,276	€2,690,896	€3,084,946
Stock	€1,218,405	€1,394,400	€1,260,924	€1,976,315	€2,899,590
Trade Debtors	€716,211	€746,616	€791,970	€1,120,959	€1,582,258
Cash	€3,098	€23,860	€1,257	€30,000	€47,470
Other Debtors	€3,424,799	€2,731,024	€1,771,998	€2,502,077	€2,001,419
Miscellaneous Current Assets	0	0	0	0	0
Total Current Assets	€5,362,513	€4,895,900	€3,826,149	€5,629,351	€6,530,737
Trade Creditors	€122,035	€90,568	€181,393	€86,004	€494,966
Bank Loans & Overdrafts	€904,564	€819,753	€665,487	€770,862	€776,355
Other Short Term Finance	€711,894	€431,014	€445,475	€2,128,083	€1,580,536
Miscellaneous Current Liabilities	€375,719	€406,126	€404,455	€504,205	€591,811
Total Current Liabilities	€2,114,212	€1,747,461	€1,696,810	€3,489,154	€3,443,668
Bank Loans & Overdrafts and LTL	€2,576,625	€2,191,516	€1,609,683	€2,177,858	€1,434,951
Other Long Term Finance	€500,000	€500,000	0	0	0
Total Long Term Liabilities	€1,672,061	€1,371,763	€944,196	€1,406,996	€658,596

Capital & Reserves

Date Of Accounts	31/12/11	31/12/10	31/12/09	31/12/08	31/12/07
Called Up Share Capital	€643,473	€643,473	€643,473	€643,473	€643,473
P & L Account Reserve	€2,043,478	€2,565,392	€2,403,503	€2,368,021	€4,441,742
Revaluation Reserve	-	-	-	-	-
Sundry Reserves	€388,123	€396,284	€404,443	€412,603	€428,204
Shareholder Funds	€3,075,074	€3,605,149	€3,451,419	€3,424,097	€5,513,419

Other Financial Items

Date Of Accounts	31/12/11	31/12/10	31/12/09	31/12/08	31/12/07
Net Worth	€3,042,816	€3,552,891	€3,385,018	€3,332,584	€5,436,178
Working Capital	€3,248,301	€3,148,439	€2,129,339	€2,140,197	€3,087,069
Total Assets	€6,861,347	€6,724,373	€6,092,425	€8,320,247	€9,615,683
Total Liabilities	€3,786,273	€3,119,224	€2,641,006	€4,896,150	€4,102,264
Net Assets	€3,075,074	€3,605,149	€3,451,419	€3,424,097	€5,513,419

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	€4,747,135	€4,976,912	€4,395,615	€4,831,093	€6,172,015
Number of Employees	56	60	68	94	123
Auditors	GRANT THORNTON
Auditor Comments	The audit report contains no adverse comments
Bankers	ULSTER BANK LTD
Bank Branch Code	98-62-60

Ratios

Date Of Accounts	31/12/11	31/12/10	31/12/09	31/12/08	31/12/07
Pre-tax profit margin %	-	-	-	-	-
Current ratio	2.54	2.80	2.25	1.61	1.90
Sales/Net Working Capital	-	-	-	-	-
Gearing %	83.80	60.80	46.60	63.60	26
Equity in %	45	54	57.30	41.60	57.80
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	1.96	2	1.51	1.04	1.05
Return On Capital Employed %	-0.42	-0.76	-10.88	-27.19	14.90
Return On Total Assets Employed %	-0.29	-0.56	-7.85	-15.79	9.56
Current Debt Ratio	0.68	0.48	0.49	1.01	0.62
Total Debt Ratio	1.23	0.86	0.76	1.42	0.74
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-0.65	-1.05	-13.86	-38.36	16.67

Status History

No Status History found

Event History

Date	Description
29/11/2012	New Accounts Filed
29/11/2012	New Accounts Filed
28/11/2012	Annual Returns
18/01/2012	Annual Returns
18/01/2012	New Accounts Filed
18/01/2012	New Accounts Filed
10/09/2011	Annual Returns
27/10/2010	New Accounts Filed
27/10/2010	New Accounts Filed
26/10/2010	Annual Returns
09/11/2009	Annual Returns
09/11/2009	New Accounts Filed
16/09/2008	Annual Returns
16/09/2008	New Accounts Filed
21/11/2007	Annual Returns

Previous Company Names

Date	Previous Name
N/A	BASTA HARDWARE LIMITED
04/02/1999	WORCESTER PARSONS MANUFACTURING LIMITED

Received Documents

Document Description	Status	CRO Registered Date
B10 Change In Director Or Secretary	Received	26/06/2013

The documents above have been received by CRO but are currently Statistics

Group	4 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	BASTA HOLDINGS LIMITED
Ownership Status	Intermediately Owned
Ultimate Holding Company	BASTA LIMITED

Group structure

COMPANY NAME	REGISTERED NUMBER	LATEST KEY FINANCIALS	CONSOL. ACCOUNTS	TURNOVER
BASTA LIMITED	IE100931	31.12.2005	N
BASTA PARSONS LIMITED	IE280319	31.12.2011	N
BASTA PARSONS LIMITED	03519698	31.12.2011	N
LISTER LOCKS LIMITED	01166193	31.12.2011	N

statistics

Group	4 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

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:	06/08/10
Date Charge Registered:	24/08/10
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	ULSTER BANK IRELAND LIMITED
Amount Secured:
Details:	ALL MONEYS, OBLIGATIONS AND LIABILITIES WHATSOEVER WHETHER PRINCIPAL, INTEREST OR OTHERWISE WHICH ARE AT THE DATE OF THE DEED, OR AT ANY TIME THEREAFTER MAY BECOME, DUE OWING AND PAYABLE TO THE BANK AND THE SECURED PARTIES, OR ... (SEE CONTINUATION SHEET)

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
TOM KEENAN	3	3
CATHERINE KENNY	0	10

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.71
UK Pound	1	Rs.90.59
Euro	1	Rs.78.22

INFORMATION DETAILS

Report Prepared by :

MNL

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.