MIRA INFORM REPORT

Report Date :

25.10.2013

IDENTIFICATION DETAILS

Name :	MOYVALLEY PAVING CENTRE LIMITED
Registered Office :	Beechmount Garden Centre, Moyvalley, Co Kildar
Country :	Ireland
Financials (as on) :	2010
Date of Incorporation :	26.01.2001
Com. Reg. No.:	IE337909
Legal Form :	Private Limited by Shares
Line of Business :	Construction of Highways, Roads, Airfield and Sport Facilities.
No. of Employees :	NIL

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 :	Moderate
Payment Behaviour :	Slow
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 Summary

Company Name MOYVALLEY PAVING CENTRE LIMITED

Company Registration Number IE337909

Country IE

Activity Code 4523

Activity Description Construction Roads, Airfields.

Company Status Financial Statements too old

Latest Turnover 0.00 (EUR)

Latest Shareholders Equity -20,891.00 (EUR)

Company Identification

Activities

Activity Code 4523

Activity Description Construction Roads, Airfields.

Basic Information

Company Name MOYVALLEY PAVING CENTRE LIMITED

Registered Company Name MOYVALLEY PAVING CENTRE LIMITED

Company Registration Number IE337909

Country IE

Date of Company Registration 26/01/2001

Date of Starting Operations 26/01/2001

Legal Form PRIVATE LIMITED BY SHARES

Company Status Financial Statements too old

Contact Address Beechmount Garden Centre, Moyvalley, Co Kildar

Main Address

Address Beechmount Garden Centre, Moyvalley, Co Kildare

Current Directors Managers

Name MARTIN MCATEER

Address 49 DROMSARAGH RD, KILREA, CO DERRY

Date of Birth 06/04/1981

Position Director

Date Appointed 22/02/2002

Name KAY TULLY

Address 5 DOBSBORO COTTAGE, LUCAN, CO DUBLIN

Date of Birth 30/04/1970

Position Company Secretary

Date Appointed 26/01/2001

Name KAY TULLY

Address 5 DOBSBORO COTTAGE, LUCAN, CO DUBLIN

Date of Birth 30/04/1970

Position Director

Date Appointed 26/01/2001

Share Capital Structure

Issued Share capital 100.00 (EUR)

Name KAY TULLY

Share Percent 50.00 %

Name MARTIN MCATEER

Share Percent 50.00 %

Employee Information

Year 2010

Number of Employees 0

Year 2009

Number of Employees 0

Year 2008

Number of Employees 0

Bankers

Name ALLIED IRISH BANK

Financial Statement

Profit & Loss

Financial Year 2010 2009 2008

Number of Weeks 52 52 52

Currency EUR EUR EUR Consolidated Accounts False False False Revenue 0.00 0.00 0.00

Wages & Salaries 0.00 0.00 0.00

Pension Costs 0.00 0.00 0.00

Amortisation 0.00 0.00 0.00

Profit Before Tax 0.00 0.00 0.00

Other Appropriations 0.00 0.00 0.00

Balance Sheet

Financial Year 2010 2009 2008

Number of Weeks 52 52 52

Currency EUR EUR EUR Consolidated Accounts False False False

Total Tangible Assets 96,150.00 119,497.00 96,028.00

Total Intangible Assets 0.00 0.00 0.00

Total Other Fixed Assets 0.00 0.00 0.00

Total Fixed Assets 96,150.00 119,497.00 96,028.00

Total Inventories 99,904.00 91,426.00 120,868.00

Trade Receivables 0.00 0.00 0.00

Miscellaneous

Receivables 0.00 0.00 0.00

Total Receivables 0.00 0.00 0.00

Cash 1,600.00 14,310.00 26,622.00

Other Current Assets 29.00 0.00 0.00

Total Current Assets 101,533.00 105,736.00 147,490.00

Total Assets 197,683.00 225,233.00 243,518.00

Trade Payables 141,115.00 146,701.00 151,292.00

Bank Liabilities 0.00 0.00 0.00

Other Loans/Finance 28,432.00 28,432.00 21,520.00

Miscellaneous Liabilities 11,675.00 7,097.00 32,038.00

Total Current Liabilities 181,222.00 182,230.00 204,850.00

Bank Liabilities due

after 1 year 0.00 0.00 0.00

Other Loans/ Finance

Due after 1 year 37,352.00 57,103.00 36,924.00

Miscellaneous Liabilities

due after 1 years 0.00 0.00 0.00

Total Long Term

Liabilities 37,352.00 57,103.00 36,924.00

Total Liabilities 218,574.00 239,333.00 241,774.00

Called Up Share Capital 100.00 100.00 100.00

Revenue Reserves -20,991.00 -14,200.00 1,644.00

Other Reserves 0.00 0.00 0.00

Total Shareholders

Equity Other Financials -20,891.00 -14,100.00 1,744.00

Contingent Liabilities No No No

Working Capital -79,689.00 -76,494.00 -57,360.00

Net Worth -20,891.00 -14,100.00 1,744.00

Ratios
Sales/Net Working Capital	0.00	0.00	0.00
Debtor Days	0.00	0.00	0.00
Creditor Days	0.00	0.00	0.00
Current Ratio	0.56	0.58	0.72
Liquidity Ratio/Acid Test	0.00	0.07	0.12
Current Debt Ratio	-8.67	-12.92	117.45
Gearing	-178.79	-404.99	2,117.20
Equity in Percentage	-10.57	-6.26	0.72
Total Debt Ratio	-10.46	-16.97	138.63

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.41
UK Pound	1	Rs.99.53
Euro	1	Rs.84.82

INFORMATION DETAILS

Report Prepared by :

NIT

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.