MIRA INFORM REPORT

Report Date :

27.07.2013

IDENTIFICATION DETAILS

Name :	EVANS EDUCATIONAL LIMITED
Registered Office :	Unit 8, Northern Cross Business Park, Finglas 999930
Country :	Ireland
Financials (as on) :	31.05.2012
Date of Incorporation :	26.05.2006
Com. Reg. No.:	IE420712
Legal Form :	Private limited with Share Capital
Line of Business :	Other retail sale of new goods in specialised stores (not commercial art galleries and opticians)
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 – March 31^st 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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 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 sales 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	EVANS EDUCATIONAL LIMITED	Company Number	IE420712
Registered Address	UNIT 8
	NORTHERN CROSS BUSINESS PARK
	FINGLAS
	999930
Website Address	-
Telephone Number		Fax Number
TPS	No	FPS	No
Incorporation Date	26/05/2006	Company Status	Active - Accounts Filed
Previous Name		Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	-
		Share Capital	€100
SIC03	5248	Currency	EUR
SIC03 Description	Other retail specialised stores
SIC07	47789
SIC07 Description	OTHER RETAIL SALE OF NEW GOODS IN SPECIALISED STORES (NOT COMMERCIAL ART GALLERIES AND OPTICIANS)

DIRECTORS/MANAGEMENT

Current Directors

Name	NOREEN O'ROURKE	Date of Birth	21/06/1949
Officers Title		Nationality
Present Appointments	5	Function	Director
Appointment Date	27/05/2006
Address	30 GEORGIAN VILLAGE, CASTLEKNOCK, DUBLIN 15
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	GERALD O'ROURKE	Date of Birth	09/10/1986
Officers Title		Nationality
Present Appointments	2	Function	Director
Appointment Date	26/09/2008
Address	30 GEORGIAN VILLAGE, CASTLEKNOCK, DUBLIN 15

Current Company Secretary

Name	GERALD O'ROURKE	Date of Birth	09/10/1986
Officers Title		Nationality
Present Appointments	2	Function	Company Secretary
Appointment Date	27/05/2006
Address	30 GEORGIAN VILLAGE, CASTLEKNOCK, DUBLIN 15

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
PATRICK DOYLE	87	3686
BEACON COMPANY SECRETARIES LIMITED	72	1560
LINDA DOYLE	30	1786
SINEAD O'ROURKE	0	1

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

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	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
NOREEN O'ROURKE	EUR	99	ORDINARY	1	99
GERALD O'ROURKE	EUR	1	ORDINARY	1	1

PAYMENT INFORMATION

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 Terms 91+ Days

GROUP STRUCTURE & AFFILIATED COMPANIES

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group structure

No group structure.

FINANCIAL INFORMATION

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/05/2012	-	-	€1,130,205	-
31/05/2011	-	-	€972,436	-
31/05/2010	-	-	€756,229	-

Profit & Loss

Date Of Accounts	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09	(%)	31/05/08
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	€2,314	-	€2,314	-16.8%	€2,781	20.2%	€2,314	-	€2,314
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09	(%)	31/05/08
Tangible Assets	0	-100%	€2,314	-50%	€4,628	-33.3%	€6,942	-25%	€9,256
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	0	-100%	€2,314	-50%	€4,628	-33.3%	€6,942	-25%	€9,256
Stock	€523,241	-8.8%	€574,038	12.7%	€509,499	-9.7%	€564,023	11.3%	€506,782
Trade Debtors	€227,367	6.2%	€214,047	43.7%	€148,909	19.2%	€124,946	-25.6%	€168,013
Cash	€502,710	44.2%	€348,738	31%	€266,227	999.9%	€20,214	-85.9%	€143,095
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-100%	€4,430	-	0
Total Current Assets	€1,253,318	10.2%	€1,136,823	22.9%	€924,635	29.6%	€713,613	-12.7%	€817,890
Trade Creditors	€60,178	-24.9%	€80,178	80.3%	€44,466	8.1%	€41,123	-62.3%	€108,970
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	0	-	0	-	0	-100%	€79,900	-68%	€249,900
Miscellaneous Current Liabilities	€62,935	-27.3%	€86,523	-32.7%	€128,568	50.2%	€85,582	-35.2%	€132,040
Total Current Liabilities	€123,113	-26.1%	€166,701	-3.7%	€173,034	-16.2%	€206,605	-57.9%	€490,910
Bank Loans & Overdrafts and LTL	0	-	0	-	0	-	0	-	0
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	0	-	0	-	0	-	0	-	0

Capital & Reserves

Date Of Accounts	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09	(%)	31/05/08
Called Up Share Capital	€100	-	€100	-	€100	-	€100	-	€100
P & L Account Reserve	€1,130,105	16.2%	€972,336	28.6%	€756,129	47.1%	€513,850	52.9%	€336,136
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	€1,130,205	16.2%	€972,436	28.6%	€756,229	47.1%	€513,950	52.9%	€336,236

Other Financial Items

Date Of Accounts	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09	(%)	31/05/08
Net Worth	€1,130,205	16.2%	€972,436	28.6%	€756,229	47.1%	€513,950	52.9%	€336,236
Working Capital	€1,130,205	16.5%	€970,122	29.1%	€751,601	48.2%	€507,008	55.1%	€326,980
Total Assets	€1,253,318	10%	€1,139,137	22.6%	€929,263	29%	€720,555	-12.9%	€827,146
Total Liabilities	€123,113	-26.1%	€166,701	-3.7%	€173,034	-16.2%	€206,605	-57.9%	€490,910
Net Assets	€1,130,205	16.2%	€972,436	28.6%	€756,229	47.1%	€513,950	52.9%	€336,236

Miscellaneous

Date Of Accounts	31/05/12	(%)	31/05/11	(%)	31/05/10	(%)	31/05/09	(%)	31/05/08
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	€1,130,205	16.2%	€972,436	28.6%	€756,229	47.1%	€513,950	52.9%	€336,236
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers	ALLIED IRISH BANKS PLC
Bank Branch Code	93-11-01

Ratios

Date Of Accounts	31/05/12	31/05/11	31/05/10	31/05/09	31/05/08
Pre-tax profit margin %	-	-	-	-	-
Current ratio	10.18	6.82	5.34	3.45	1.67
Sales/Net Working Capital	-	-	-	-	-
Gearing %	0	0	0	0	0
Equity in %	90.20	85.40	81.40	71.30	40.70
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	5.93	3.37	2.39	0.72	0.63
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	0.10	0.17	0.22	0.40	1.46
Total Debt Ratio	0.10	0.17	0.22	0.40	1.46
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

Creditor Details

No Creditor Data

Total Value

-

Trade Debtors / Bad Debt Detail

No Debtor Data

Total Value

-

ADDITIONAL INFORMATION

Status History

No Status History found.

Event History

Date	Description
14/08/2012	New Accounts Filed
11/08/2012	Annual Returns
14/12/2011	Annual Returns
14/12/2011	New Accounts Filed
14/12/2011	New Accounts Filed
28/08/2010	Annual Returns
27/08/2010	New Accounts Filed
27/01/2010	New Accounts Filed
16/11/2008	Annual Returns
16/11/2008	New Accounts Filed
26/09/2008	SINEAD O'ROURKE has left the board
26/09/2008	New Board Member (GERALD O'ROURKE) appointed
14/12/2007	Annual Returns
14/12/2007	New Accounts Filed
27/05/2006	PATRICK DOYLE has left the board

Previous Company Names

No Previous Names found.

NOTES & COMMENTS

Commentary

The credit limit on this company has risen 100% in comparison to the previously suggested credit limit.
There is insufficient data to indicate a change in this companies percentage of sales.
Net Worth increased by 16.2% during the latest trading period.
A 10% growth 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 an increase in their Cash Balance of 44.2% 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 movement in accumulated earnings would indicate that the company made a profit after tax and other appropriations, including dividends.
The company was established over 7 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.58.91
UK Pound	1	Rs.90.68
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.