MIRA INFORM REPORT

 

 

Report Date :

01.06.2013

 

IDENTIFICATION DETAILS

 

Name :

MILLBROOK PAVING CENTRE LIMITED

 

 

Registered Office :

Farrankelly Delgany Co Wicklow 999936

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

03.01.2008

 

 

Com. Reg. No.:

IE451276

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Construction of Highways, Roads, Airfields and Sport Facilities

 

 

No. of Employees :

Not Employees

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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

 

Company Name

MILLBROOK PAVING CENTRE LIMITED

Company Number

IE451276

Registered Address

FARRANKELLY

 



 

DELGANY

 

 

CO WICKLOW

 

 

999936

 

Website Address

-

 

 

Telephone Number

-

Fax Number

 

TPS

-

FPS

No

Incorporation Date

03/01/2008

Company Status

Active - Accounts Filed

Previous Name

 

Type

Private limited with Share Capital

Date of Change

-

Filing Date of Accounts

-

 

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

1

 

Current Directors

Name

NIALL MC ADAMS

Date of Birth

06/07/1975

Officers Title

 

Nationality

 

Present Appointments

2

Function

Director

Appointment Date

03/01/2008

 

 

Address

27 GILTSPUR BROOK, BRAY, CO. WICKLOW

Other Actions

View Director Report

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

GRATTAN EVANS

Date of Birth

15/12/1972

 

Officers Title

 

Nationality

 

 

Present Appointments

2

Function

Director

 

Appointment Date

03/01/2008

 

 

 

Address

ROCKFIELD HOUSE, PRIESTNEWTOWN, DELGANY, CO. WICKLOW

 

Other Actions

View Director Report

 

 

 

Disqualified

 

Disqualified End Date

 

 

Disqualification Exception

No

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

COMPANY SERVICES LIMITED

6217

16629

 

 

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

There are no Writ details

 

Mortgage Summary

Outstanding

1

Satisfied

0

 

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:

06/03/08

 

 

Date Charge Registered:

12/03/08

 

 

Date Charge Satisfied:

-

 

 

Status:

NOT SATISFIED

 

 

Person(s) Entitled:

ALLIED IRISH BANKS PLC

Amount Secured:

 

Details:

 

 

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

NIALL MCADAMS

EUR

50

ORDINARY

1

50

GRATTAN EVANS

EUR

50

ORDINARY

1

50

 

Share Capital

€100

 

 

 

PAYMENT INFORMATION

 

Payment Information Summary

Days Beyond Terms

Trend Indicator

Average Payment Experience

 

 

N/A

11

Company
DBT

IE Average
DBT

Steady

   

Improving Worsening

Within Terms 91+ Days

 

 

Creditor Details

No Creditor Data

 

Total Value

-

 

Trade Debtors / Bad Debt Detail

No Debtor Data

 

Total Value

-

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

-

Linkages

0 companies

Countries

In 0 countries

Summary

Holding Company

- a

Ownership Status

 

Ultimate Holding Company

-

Group structure

No group structure

 

 

FINANCIAL INFORMATION

 

Key Financials

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

31/12/2011

-

-

-€221,543

-

31/12/2010

-

-

-€236,841

-

31/12/2009

-

-

-€155,028

-

Profit & Loss

 

Date Of Accounts

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

(%)

-

 

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

-

-

€16,858

-21.3%

€21,411

14.4%

€18,717

-

-

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

Balance Sheet

 

Date Of Accounts

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

(%)

-

Tangible Assets

€71,408

-19.1%

€88,266

-32.8%

€131,402

0.3%

€131,020

-

-

Intangible Assets

0

-

0

-

0

-

0

-

-

Total Fixed Assets

€71,408

-19.1%

€88,266

-32.8%

€131,402

0.3%

€131,020

-

-

Stock

€144,500

-5.6%

€153,000

-29.2%

€216,119

-36.8%

€341,893

-

-

Trade Debtors

€105,069

-28.8%

€147,669

-16.4%

€176,533

-20.7%

€222,506

-

-

Cash

€5,190

-

0

-

0

-

0

-

-

Other Debtors

0

-

0

-

0

-

0

-

-

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

-

Total Current Assets

€254,759

-15.3%

€300,669

-23.4%

€392,652

-30.4%

€564,399

-

-

Trade Creditors

€331,871

1.7%

€326,289

138.6%

€136,764

116.7%

€63,106

-

-

Bank Loans & Overdrafts

€36,125

-24%

€47,536

-67.9%

€147,932

-50.8%

€300,893

-

-

Other Short Term Finance

€38,497

-51.6%

€79,577

-68%

€248,442

4%

€238,887

-

-

Miscellaneous Current Liabilities

0

-

0

-100%

€9,853

-66.4%

€29,306

-

-

Total Current Liabilities

€406,493

-10.3%

€453,402

-16.5%

€542,991

-14.1%

€632,192

-

-

Bank Loans & Overdrafts and LTL

€177,342

-19.4%

€219,910

-22.6%

€284,023

-22.3%

€365,366

-

-

Other Long Term Finance

€141,217

-18.1%

€172,374

-

0

-

0

-

-

Total Long Term Liabilities

€141,217

-18.1%

€172,374

26.7%

€136,091

111.1%

€64,473

-

-

Capital & Reserves

 

Date Of Accounts

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

(%)

-

Called Up Share Capital

€100

-

€100

-

€100

-

€100

-

-

P & L Account Reserve

-€221,643

6.5%

-€236,941

-52.7%

-€155,128

-999.9%

-€1,346

-

-

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

-€221,543

6.5%

-€236,841

-52.8%

-€155,028

-999.9%

-€1,246

-

-

Other Financial Items

 

Date Of Accounts

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

(%)

-

Net Worth

-€221,543

6.5%

-€236,841

-52.8%

-€155,028

-999.9%

-€1,246

-

-

Working Capital

-€151,734

0.7%

-€152,733

-1.6%

-€150,339

-121.8%

-€67,793

-

-

Total Assets

€326,167

-16.1%

€388,935

-25.8%

€524,054

-24.6%

€695,419

-

-

Total Liabilities

€547,710

-12.5%

€625,776

-7.8%

€679,082

-2.5%

€696,665

-

-

Net Assets

-€221,543

6.5%

-€236,841

-52.8%

-€155,028

-999.9%

-€1,246

-

-

Cash Flow

 

Date Of Accounts

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

(%)

-

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

Miscellaneous

 

Date Of Accounts

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

(%)

-

 

Contingent Liability

NO

-

NO

-

NO

-

NO

-

-

Capital Employed

-€80,326

-24.6%

-€64,467

-240.4%

-€18,937

-130%

€63,227

-

-

Ratios

 

Date Of Accounts

31/12/11

31/12/10

31/12/09

31/12/08

-

Pre-tax profit margin %

-

-

-

-

-

Current ratio

0.63

0.66

0.72

0.89

-

Sales/Net Working Capital

-

-

-

-

-

Gearing %

-80

-92.90

-183.20

-29323.10

-

Equity in %

-67.90

-60.90

-29.60

-0.20

-

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.27

0.32

0.32

0.35

-

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

-1.83

-1.91

-3.50

-507.37

-

Total Debt Ratio

-2.47

-2.64

-4.38

-559.12

-

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

 

 

 

FOREIGN EXCHANGE RATES

 

N/a

 

 

ADDITIONAL INFORMATION

 

SIC03

4523

SIC03 Description

Construction roads, airfields etc.

SIC07

42110

SIC07 Description

CONSTRUCTION OF ROADS AND MOTORWAYS

Principal Activity

 

 

Current Company Secretary

Name

NIALL MC ADAMS

Date of Birth

06/07/1975

Officers Title

 

Nationality

 

Present Appointments

2

Function

Company Secretary

Appointment Date

03/01/2008

 

 

Address

27 GILTSPUR BROOK, BRAY, CO. WICKLOW

Other Actions

 

 

 

 

Number of Employees

-

-

-

-

-

-

-

-

-

 

Auditors

 

 

Auditor Comments

The company is exempt from audit

 

Bankers

 

 

Bank Branch Code

 

 

Status History

No Status History found

 

Event History

 Date

Description

28/08/2012

New Accounts Filed

28/08/2012

New Accounts Filed

25/08/2012

Annual Returns

11/06/2011

New Accounts Filed

10/06/2011

Annual Returns

28/07/2010

Annual Returns

28/07/2010

New Accounts Filed

27/08/2009

New Accounts Filed

26/08/2009

Annual Returns

03/08/2008

Annual Returns

03/01/2008

COMPANY SERVICES LIMITED has resigned as company secretary

03/01/2008

New Board Member (GRATTAN EVANS) appointed

03/01/2008

New Board Member (NIALL MC ADAMS) appointed

03/01/2008

New Company Secretary (NIALL MC ADAMS) appointed

03/01/2008

New Company Secretary (COMPANY SERVICES LIMITED) appointed

 

Previous Company Names

No Previous Names found

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.49

UK Pound

1

Rs.86.81

Euro

1

Rs.73.68

 

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%)

 

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.