MIRA INFORM REPORT
|
Report Date : |
29.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
ROCKGROVE SAND & GRAVEL LIMITED |
|
|
|
|
Registered Office : |
27 Cork Road Midleton Co Cork 479214 |
|
|
|
|
Country : |
Ireland |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
20.06.2007 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Building Supplies |
|
|
|
|
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 : |
Poor |
|
Payment Behaviour : |
Unknown |
|
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 31st, 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
REGISTERED NAME & COMPANY SUMMARY
Summary – Company
Information
|
Company Name |
ROCKGROVE SAND & GRAVEL LIMITED |
Company Number |
IE441762 |
|
|
|
|
|
|
Registered Address |
27 CORK ROAD |
Non Registered Trading Address |
Unit 13
Rockgrove Industrial Estatelitte Island Co Cork, Ireland |
|
|
MIDLETON |
|
|
|
|
CO CORK |
|
|
|
|
479214 |
|
|
|
Website Address |
- |
|
|
|
Telephone Number |
|
Fax Number |
|
|
TPS |
No |
FPS |
No |
|
Incorporation Date |
20/06/2007 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
|
Type |
Private limited with Share Capital |
|
Date of Change |
- |
Filing Date of Accounts |
- |
|
|
|
Share Capital |
€300 |
|
SIC03 |
7220 |
Currency |
EUR |
|
SIC03 Description |
|
||
|
SIC07 |
|
||
|
SIC07 Description |
|
||
|
Principal Activity |
Building Supplies |
|
|
DIRECTORS/MANAGEMENT
Directors
|
Total Current Directors |
2 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company
Secretaries |
9 |
Current
Directors
|
Name |
Date of Birth |
08/06/1973 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
9 |
Function |
Director |
|
Appointment Date |
23/11/2009 |
|
|
|
Address |
THE COTTAGE, BALLYNAROON, GLOUNTHAUNE, CO.
CORK |
||
|
|
|
|
|
|
Name |
Date of Birth |
16/09/1948 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
5 |
Function |
Director |
|
Appointment Date |
12/01/2010 |
|
|
|
Address |
LOVERS WALK, TIVOLI, CORK, CO. CORK |
||
|
|
|
|
|
Current
Company Secretary
|
Name |
Date of Birth |
16/09/1948 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
5 |
Function |
Company
Secretary |
|
Appointment Date |
12/01/2010 |
|
|
|
Address |
LOVERS WALK, TIVOLI, CORK, CO. CORK |
||
|
|
|
|
|
NEGATIVE INFORMATION
CJ
|
Total Number of Exact CJs - |
Total Value of Exact CJs - |
||
|
Total Number of Possible CJs - |
Total Value of Possible CJs - |
||
|
Total Number of Satisfied CJs - |
Total Value of Satisfied CJs - |
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 |
SHARE & SHARE CAPITAL INFORMATION
Top 20
Shareholders
|
Name |
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
CHRISTOPHER CUDDY |
EUR |
100 |
ORDINARY |
1 |
33.33 |
|
NOEL BROWNE |
EUR |
100 |
ORDINARY |
1 |
33.33 |
|
RICHARD CUDDY |
EUR |
100 |
ORDINARY |
1 |
33.33 |
PAYMENT INFORMATION
Summary – Payment History
Key
Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
31/03/2012 |
- |
- |
-€66,377 |
- |
|
31/03/2011 |
- |
- |
-€15,865 |
- |
|
31/12/2009 |
- |
- |
€100 |
- |
Payment Information Summary
|
Days Beyond Terms |
Trend Indicator |
|
||||
|
Steady Improving Worsening |
|
GROUP STRUCTURE & AFFILIATED COMPANIES
Group Structure
Statistics
|
Group |
- |
|
Linkages |
|
|
Countries |
Group
structure
|
Business Owner Links
|
Business Name |
Business No |
Business Status. |
|
|
||
|
NORMAL |
FINANCIAL INFORMATION
Financials
Profit
& Loss
|
Date Of Accounts |
31/03/12 |
|
31/03/11 |
|
31/12/09 |
|
31/05/09 |
|
31/05/08 |
|
Weeks |
52 |
|
65 |
|
31 |
|
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 |
€8,000 |
|
€5,000 |
|
- |
|
- |
|
- |
|
Audit Fees |
- |
|
- |
|
- |
|
- |
|
- |
|
Interest Payments |
- |
|
- |
|
- |
|
- |
|
- |
|
Pre Tax Profit |
- |
|
- |
|
- |
|
- |
|
- |
|
Taxation |
- |
|
- |
|
- |
|
- |
|
- |
|
Profit After Tax |
- |
|
- |
|
- |
|
- |
|
- |
|
Dividends Payable |
- |
|
- |
|
- |
|
- |
|
- |
|
Retained Profit |
- |
|
- |
|
- |
|
- |
|
- |
Balance
Sheet
|
Date Of Accounts |
31/03/12 |
|
31/03/11 |
|
31/12/09 |
|
31/05/09 |
|
31/05/08 |
|
Tangible Assets |
€40,000 |
|
€27,000 |
|
0 |
|
0 |
|
€3,000 |
|
Intangible Assets |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
Total Fixed Assets |
€40,000 |
|
€27,000 |
|
0 |
|
0 |
|
€3,000 |
|
Stock |
€25,000 |
|
€25,000 |
|
0 |
|
0 |
|
0 |
|
Trade Debtors |
€11,442 |
|
€8,112 |
|
0 |
|
0 |
|
€11,021 |
|
Cash |
0 |
|
€3,929 |
|
€100 |
|
€100 |
|
0 |
|
Other Debtors |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
Miscellaneous Current Assets |
0 |
|
0 |
|
0 |
|
0 |
|
€2,040 |
|
Total Current Assets |
€36,442 |
|
€37,041 |
|
€100 |
|
€100 |
|
€13,061 |
|
Trade Creditors |
€44,112 |
|
€17,209 |
|
0 |
|
0 |
|
0 |
|
Bank Loans & Overdrafts |
€18 |
|
0 |
|
0 |
|
0 |
|
€138 |
|
Other Short Term Finance |
€90,011 |
|
€62,246 |
|
0 |
|
0 |
|
€12,742 |
|
Miscellaneous Current Liabilities |
€8,678 |
|
€451 |
|
0 |
|
0 |
|
€3,236 |
|
Total Current Liabilities |
€142,819 |
|
€79,906 |
|
0 |
|
0 |
|
€16,116 |
|
Bank Loans & Overdrafts and LTL |
€18 |
|
0 |
|
0 |
|
0 |
|
€138 |
|
Other Long Term Finance |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
Total Long Term Liabilities |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
Capital
& Reserves
|
Date Of Accounts |
31/03/12 |
|
31/03/11 |
|
31/12/09 |
|
31/05/09 |
|
31/05/08 |
|
Called Up Share Capital |
€300 |
|
€300 |
|
€100 |
|
€100 |
|
€100 |
|
P & L Account Reserve |
-€66,677 |
|
-€16,165 |
|
- |
|
- |
|
-€155 |
|
Revaluation Reserve |
- |
|
- |
|
- |
|
- |
|
- |
|
Sundry Reserves |
- |
|
- |
|
- |
|
- |
|
- |
|
Shareholder Funds |
-€66,377 |
|
-€15,865 |
|
€100 |
|
€100 |
|
-€55 |
Other
Financial Items
|
Date Of Accounts |
31/03/12 |
|
31/03/11 |
|
31/12/09 |
|
31/05/09 |
|
31/05/08 |
|
Net Worth |
-€66,377 |
|
-€15,865 |
|
€100 |
|
€100 |
|
-€55 |
|
Working Capital |
-€106,377 |
|
-€42,865 |
|
€100 |
|
€100 |
|
-€3,055 |
|
Total Assets |
€76,442 |
|
€64,041 |
|
€100 |
|
€100 |
|
€16,061 |
|
Total Liabilities |
€142,819 |
|
€79,906 |
|
- |
|
- |
|
€16,116 |
|
Net Assets |
-€66,377 |
|
-€15,865 |
|
€100 |
|
€100 |
|
-€55 |
Miscellaneous
|
Date Of Accounts |
31/03/12 |
|
31/03/11 |
|
31/12/09 |
|
31/05/09 |
|
31/05/08 |
|
Contingent Liability |
NO |
|
NO |
|
NO |
|
NO |
|
NO |
|
Capital Employed |
-€66,377 |
|
-€15,865 |
|
€100 |
|
€100 |
|
-€55 |
|
Number of Employees |
- |
|
- |
|
- |
|
- |
|
- |
|
Auditors |
|
||||||||
|
Auditor Comments |
The company is exempt from audit |
||||||||
|
Bankers |
ALLIED IRISH BANK PLC |
||||||||
|
Bank Branch Code |
93-41-27 |
||||||||
Ratios
|
Date Of Accounts |
31/03/12 |
31/03/11 |
31/12/09 |
31/05/09 |
31/05/08 |
|
Pre-tax profit margin % |
- |
- |
- |
- |
- |
|
Current ratio |
0.26 |
0.46 |
- |
- |
0.81 |
|
Sales/Net Working Capital |
- |
- |
- |
- |
- |
|
Gearing % |
0 |
0 |
0 |
0 |
-250.90 |
|
Equity in % |
-86.80 |
-24.80 |
100 |
100 |
-0.30 |
|
Creditor Days |
- |
- |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid Test |
0.08 |
0.15 |
- |
- |
0.81 |
|
Return On Capital Employed % |
- |
- |
- |
- |
- |
|
Return On Total Assets Employed % |
- |
- |
- |
- |
- |
|
Current Debt Ratio |
-2.15 |
-5.03 |
- |
- |
-293.01 |
|
Total Debt Ratio |
-2.15 |
-5.03 |
- |
- |
-293.01 |
|
Stock Turnover Ratio % |
- |
- |
- |
- |
- |
|
Return on Net Assets Employed % |
- |
- |
- |
- |
- |
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
Commentary
|
The company's credit rating has dropped from
33 to 28 which puts the company in a discretionary Credit banding. |
|
|
The credit limit on this company has fallen 100%
in comparison to the previously suggested credit limit. |
|
|
Net Worth decreased by 318.4% during the
latest trading period. |
|
|
A 19.4% growth in Total Assets occurred
during the latest trading period. |
|
|
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 company has changed its year end on
multiple occasions. |
|
|
The movement in accumulated earnings would
indicate that the company incurred a loss after tax and other appropriations,
including dividends. |
|
|
The company was established over 5 years
ago. |
|
Event History
Status
History
|
No Status History found |
Event History
|
Date |
Description |
|
28/02/2013 |
New Accounts Filed |
|
22/02/2013 |
Annual Returns |
|
20/02/2012 |
New Accounts Filed |
|
18/02/2012 |
Annual Returns |
|
21/12/2011 |
NOEL BROWNE has left the board |
|
09/11/2010 |
New Accounts Filed |
|
06/11/2010 |
Annual Returns |
|
27/01/2010 |
New Accounts Filed |
|
27/01/2010 |
New Accounts Filed |
|
26/01/2010 |
Annual Returns |
|
12/01/2010 |
KATE CUDDY has left the board |
|
12/01/2010 |
RICHARD CUDDY has resigned as company
secretary |
|
12/01/2010 |
New Board Member (CHRISTOPHER CUDDY)
appointed |
|
12/01/2010 |
New Company Secretary (CHRISTOPHER CUDDY)
appointed |
|
12/01/2010 |
New Board Member (NOEL BROWNE) appointed |
Previous
Company Names
|
No Previous Names found |
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.29 |
|
|
1 |
Rs.91.18 |
|
Euro |
1 |
Rs.78.71 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.