MIRA INFORM REPORT

 

 

Report Date :

29.06.2013

 

IDENTIFICATION DETAILS

 

Name :

CONANRO LIMITED

 

 

Registered Office :

30 Cookstown Industrial Estate, Belgard Road, Tallaght 216410

 

 

Country :

Ireland

 

 

Financials (as on) :

30.04.2012

 

 

Date of Incorporation :

01.11.1962

 

 

Com. Reg. No.:

IE020015

 

 

Legal Form :

Not Available

 

 

Line of Business :

Subject engaged in supply of blister pack tooling and science services to the pharmaceutical industry.

 

 

No. of Employees :

Not Available

 

 

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 :

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 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

CONANRO LIMITED

Company Number

IE020015

 

 

 

 

Registered Address

30 COOKSTOWN INDUSTRIAL ESTATE

 



 

BELGARD ROAD

 

 

TALLAGHT

 

 

216410

 

Website Address

-

 

 

Telephone Number

 

Fax Number

 

TPS

No

FPS

No

Incorporation Date

01/11/1962

Company Status

Active - Accounts Filed

Previous Name

 

Type

Other

Date of Change

-

Filing Date of Accounts

-

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

7

 

Current Directors

 

Name

MAUREEN RENNICKS

Date of Birth

08/10/1947

Officers Title

 

Nationality

 

Present Appointments

13

Function

Director

Appointment Date

12/12/1997

 

 

Address

BELGREE HOUSE, MULHUDDART, DUBLIN 15.

Other Actions

View Director Report

 

 

 

 

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

ROBERT ROBIN HENRY RENNICKS

Date of Birth

06/09/1933

Officers Title

 

Nationality

 

Present Appointments

14

Function

Director

Appointment Date

12/12/1997

 

 

Address

BELGREE HOUSE, MULHUDDART, CO. DUBLIN.

 

 

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

9

Satisfied

2

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

KILMAHUDDRICK HOLDINGS

EUR

160,000

ORDINARY A

1.27

 

 

Share Capital

€203,158

 

 

PAYMENT INFORMATION

 

Payment Information Summary

Days Beyond Terms

Trend Indicator

             Average Payment Experience

 

 

N/A

23

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

 

Statistics

Group

2 companies

Linkages

0 companies

Countries

In 0 countries

 

Summary

 

Holding Company

KILMAHUDDRICK HOLDINGS

Ownership Status

Intermediately Owned

Ultimate Holding Company

KILMAHUDDRICK HOLDINGS

 

Group structure

 

Company Name

 

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

KILMAHUDDRICK HOLDINGS

 

IE129196

05.04.2007

N

 

CONANRO LIMITED

 

IE020015

30.04.2012

N

 

 

FINANCIAL INFORMATION

 

Key Financials

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

30/04/2012

-

-€5,634,999

-

-

30/04/2011

-

€947,375

€6,396,114

-

30/04/2010

-

€446,076

€5,533,803

-

 

 

Profit & Loss

 

Date Of Accounts

30/04/12

(%)

30/04/11

(%)

30/04/10

(%)

30/04/09

(%)

30/04/08

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

€2,581,711

-3.6%

€2,677,291

45.3%

€1,843,077

7.1%

€1,720,863

-26.6%

€2,343,379

Wages & Salaries

-

-

-

-

-

-

€3,609,922

-6.8%

€3,872,121

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

€1,640,511

75%

€937,470

115.2%

€435,725

-10.5%

€486,884

-51.5%

€1,004,034

Depreciation

€227,388

-36.5%

€357,933

19.4%

€299,678

0.2%

€299,203

3.9%

€287,989

Audit Fees

€8,848

-46%

€16,377

17.9%

€13,892

7.9%

€12,877

-27.3%

€17,707

Interest Payments

-

-

-

-

-

-

-

-100%

€368

Pre Tax Profit

-€5,634,999

-694.8%

€947,375

112.4%

€446,076

-12.3%

€508,487

-49.6%

€1,008,232

Taxation

-€207,198

-120.9%

-€93,781

-102.7%

-€46,268

12.8%

-€53,056

40%

-€88,354

Profit After Tax

-€5,842,197

-784.4%

€853,594

113.5%

€399,808

-12.2%

€455,431

-50.5%

€919,878

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-€5,842,197

-784.4%

€853,594

113.5%

€399,808

-12.2%

€455,431

-50.5%

€919,878

 

 

Balance Sheet

 

Date Of Accounts

30/04/12

(%)

30/04/11

(%)

30/04/10

(%)

30/04/09

(%)

30/04/08

Tangible Assets

0

-100%

€2,692,538

11.2%

€2,422,333

-4.2%

€2,529,109

-4.7%

€2,652,891

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

0

-100%

€2,692,538

11.2%

€2,422,333

-4.2%

€2,529,109

-4.7%

€2,652,891

Stock

0

-100%

€414,108

-20.8%

€522,591

-6.5%

€558,827

-11.9%

€634,266

Trade Debtors

0

-100%

€1,735,458

63.8%

€1,059,371

-5.4%

€1,119,695

-18.6%

€1,375,651

Cash

0

-100%

€2,090,913

36.5%

€1,531,799

11.6%

€1,372,011

145.2%

€559,634

Other Debtors

0

-100%

€525,124

-59.5%

€1,295,883

252.6%

€367,513

120.3%

€166,787

Miscellaneous Current Assets

0

-

0

-100%

€5,395

-7.2%

€5,814

-

0

Total Current Assets

0

-100%

€4,765,603

7.9%

€4,415,039

28.9%

€3,423,860

25.1%

€2,736,338

Trade Creditors

0

-100%

€281,970

-56.4%

€646,952

121.1%

€292,650

20.8%

€242,353

Bank Loans & Overdrafts

0

-

0

-100%

€7,281

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

0

-100%

€780,057

20.1%

€649,336

27.7%

€508,660

17.5%

€432,984

Total Current Liabilities

0

-100%

€1,062,027

-18.5%

€1,303,569

62.7%

€801,310

18.7%

€675,337

Bank Loans & Overdrafts and LTL

0

-

0

-100%

€7,281

-

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

30/04/12

(%)

30/04/11

(%)

30/04/10

(%)

30/04/09

(%)

30/04/08

Called Up Share Capital

€203,158

-

€203,158

-

€203,158

-

€203,158

-

€203,158

P & L Account Reserve

-€203,158

-103.6%

€5,639,039

17.8%

€4,785,445

9.1%

€4,385,637

11.6%

€3,930,206

Revaluation Reserve

-

-100%

€463,454

-

€463,454

-

€463,454

-

€463,454

Sundry Reserves

-

-100%

€90,463

10.7%

€81,746

-17.8%

€99,410

-15.1%

€117,074

Shareholder Funds

-

-100%

€6,396,114

15.6%

€5,533,803

7.4%

€5,151,659

9.3%

€4,713,892

 

 

Other Financial Items

 

Date Of Accounts

30/04/12

(%)

30/04/11

(%)

30/04/10

(%)

30/04/09

(%)

30/04/08

Net Worth

-

-100%

€6,396,114

15.6%

€5,533,803

7.4%

€5,151,659

9.3%

€4,713,892

Working Capital

-

-100%

€3,703,576

19%

€3,111,470

18.6%

€2,622,550

27.2%

€2,061,001

Total Assets

-

-100%

€7,458,141

9.1%

€6,837,372

14.9%

€5,952,969

10.5%

€5,389,229

Total Liabilities

-

-100%

€1,062,027

-18.5%

€1,303,569

62.7%

€801,310

18.7%

€675,337

Net Assets

-

-100%

€6,396,114

15.6%

€5,533,803

7.4%

€5,151,659

9.3%

€4,713,892

 

 

Cash Flow

 

Date Of Accounts

30/04/12

(%)

30/04/11

(%)

30/04/10

(%)

30/04/09

(%)

30/04/08

Net Cashflow from Operations

-€3,765,812

-416.1%

€1,191,239

212.7%

€380,908

-64.3%

€1,066,809

2.7%

€1,039,039

Net Cashflow before Financing

-€2,090,913

-469.2%

€566,394

271.4%

€152,508

-81.2%

€812,378

66.6%

€487,728

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-€2,090,913

-469.2%

€566,394

271.4%

€152,508

-81.2%

€812,378

66.6%

€487,728

 

 

 

Miscellaneous

 

Date Of Accounts

30/04/12

(%)

30/04/11

(%)

30/04/10

(%)

30/04/09

(%)

30/04/08

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

-

-100%

€6,396,114

15.6%

€5,533,803

7.4%

€5,151,659

9.3%

€4,713,892

Number of Employees

-

-

-

-

-

-

-

-

-

 

 

Ratios

 

Date Of Accounts

30/04/12

30/04/11

30/04/10

30/04/09

30/04/08

Pre-tax profit margin %

-

-

-

-

-

Current ratio

-

4.49

3.39

4.27

4.05

Sales/Net Working Capital

-

-

-

-

-

Gearing %

0

0

0.10

0

0

Equity in %

-

85.80

80.90

86.50

87.50

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

-

4.09

2.98

3.57

3.11

Return On Capital Employed %

-

14.81

8.06

9.87

21.38

Return On Total Assets Employed %

-

12.70

6.52

8.54

18.70

Current Debt Ratio

-

0.16

0.23

0.15

0.14

Total Debt Ratio

-

0.16

0.23

0.15

0.14

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

14.81

8.06

9.87

21.38

 

FOREIGN EXCHANGE RATES

 

N/a

 

 

ADDITIONAL INFORMATION

 

SIC03

27440

SIC03 Description

Copper production

SIC07

24440

SIC07 Description

COPPER PRODUCTION

Principal Activity

The supply of blister pack tooling and science services to the pharmaceutical industry.

 

Current Company Secretary

 

Name

ROBERT ROBIN HENRY RENNICKS

Date of Birth

06/09/1933

Officers Title

 

Nationality

 

Present Appointments

14

Function

Company Secretary

Appointment Date

12/12/1997

 

 

Address

BELGREE HOUSE, MULHUDDART, CO. DUBLIN.

 

Auditors

SINNOTT HUGHES & CO

Auditor Comments

The audit report contains no adverse comments

Bankers

ULSTER BANK LTD

Bank Branch Code

98-50-30

 

Status History

 

No Status History found

 

Event History

 

Date

Description

17/04/2013

New Accounts Filed

16/04/2013

Annual Returns

04/04/2012

New Accounts Filed

04/04/2012

New Accounts Filed

03/04/2012

Annual Returns

15/03/2011

Annual Returns

15/03/2011

New Accounts Filed

15/03/2011

New Accounts Filed

05/03/2010

Annual Returns

04/03/2010

New Accounts Filed

09/03/2009

Annual Returns

06/03/2009

New Accounts Filed

17/03/2008

Annual Returns

17/03/2008

New Accounts Filed

12/12/1997

JOSEPH HIGGINS has left the board

 

Previous Company Names

 

No Previous Names found

 

NOTES & COMMENTS

Commentary

The company's credit rating has dropped from 95 to 44 but the company is still indicating it is creditworthy.

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There is insufficient data to indicate a change in this companies percentage of sales.

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Net Worth decreased by 100% during the latest trading period.

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A 100% decline in Total Assets occurred during the latest trading period.

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Pre-tax profits decreased by 694.8% compared to the previous trading period.

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The company saw a decrease in their Cash Balance of 100% during the latest trading period.

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The audit report contains no adverse comments.

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No recent changes in directorship are recorded.

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The company is part of a group.

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The company was established over 50 years ago.

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FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.69

UK Pound

1

Rs.91.14

Euro

1

Rs.77.97

 

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.