MIRA INFORM REPORT

 

 

Report Date :

05.09.2013

 

IDENTIFICATION DETAILS

 

Name :

TREDSTEP IRELAND LIMITED

 

 

Registered Office :

Spruce Lodge ,Kiltiernan , Co Dublin County

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

27.01.1994

 

 

Com. Reg. No.:

E0212304

 

 

Legal Form :

Private Independent

 

 

Line of Business :

Subject engaged in the credit reporting and collection agency activities; speciality design activities; activities of exhibition and fair organisers; activities of conference organisers

 

 

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

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

 

 

Company name & ADDRESS

 

TREDSTEP IRELAND LIMITED

                                                                                                                                                                   

 

Spruce Lodge

Kiltiernan

Ireland

(Registered Address)

 

 

 SYNTHESIS

 

Employees:                   NA

Company Type:             Private Independent

Incorporation Date: 27-Jan-1994

Financials in:                 USD (mil)

Fiscal Year End:            31-Dec-2011

Reporting Currency:        Euro

Annual Sales:                NA

Total Assets:                 0.8

 

 

 Business Description

             

 

Tredstep Ireland Limited is primarily engaged in the credit reporting and collection agency activities; speciality design activities; activities of exhibition and fair organisers; activities of conference organisers; and other business activities not elsewhere classified.

 

 

Industry

 

 

Industry             Miscellaneous Professional Services

ANZSIC 2006:    6999 - Other Professional, Scientific and Technical Services Not Elsewhere Classified

ISIC Rev 4:         8299 - Other business support service activities n.e.c.

NACE Rev 2:      8299 - Other business support service activities n.e.c.

NAICS 2012:      561990 - All Other Support Services

UK SIC 2007:     8299 - Other business support service activities n.e.c.

US SIC 1987:     7389 - Business Services, Not Elsewhere Classified

 

 

                        

 Key Executives

 

Name

Title

Aidan Keogh

Secretary, Director

Jacqueline Carey

Director

      

 

Registered No.(IRE):E0212304

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327

 

 

Tredstep Ireland Limited

CORPORATE OVERVIEW

Location
Spruce Lodge
Kiltiernan
Co Dublin County
Ireland

 

 

 

 

Sales EUR(mil):

NA

Assets EUR(mil):

0.6

Employees:

NA

Fiscal Year End:

31-Dec-2011

 

 

 

Industry:

Business Services

Incorporation Date:

27-Jan-1994

Company Type:

Private Independent

Quoted Status:

Not Quoted

Registered No.(IRE):

E0212304

 

Secretary, Director:

Aidan Keogh

 

Industry Codes

 

ANZSIC 2006 Codes:

6999

-

Other Professional, Scientific and Technical Services Not Elsewhere Classified

 

ISIC Rev 4 Codes:

8299

-

Other business support service activities n.e.c.

 

NACE Rev 2 Codes:

8299

-

Other business support service activities n.e.c.

 

NAICS 2012 Codes:

561990

-

All Other Support Services

 

US SIC 1987:

7389

-

Business Services, Not Elsewhere Classified

 

UK SIC 2007:

8299

-

Other business support service activities n.e.c.

 

 

Business Description

 

Tredstep Ireland Limited is primarily engaged in the credit reporting and collection agency activities; speciality design activities; activities of exhibition and fair organisers; activities of conference organisers; and other business activities not elsewhere classified.

 

 

 

 

 

 

Financial Data

 

Financials in:

EUR(mil)

 

Assets:

0.6

Total Liabilities:

0.4

 

Working Capital:

0.3

 

Net Worth:

0.3

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

NA

 

 

 

 

 

 

 

 

 

 

Executives Report

 

 

Board of Directors

 

Name

Title

Function

 

Jacqueline Carey

 

Director

Director/Board Member

 

Aidan Keogh

 

Secretary, Director

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Aidan Keogh

 

Secretary, Director

Company Secretary

 

 

 

 

Annual Financial Reports

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate

0.770327

0.745406

0.696986

0.719399

Consolidated

No

No

No

No

 

 

 

 

 

Tangible Assets

0.0

0.0

0.0

0.0

Total Fixed Assets

0.0

0.0

0.0

0.0

Stocks

0.5

0.4

0.5

0.4

Trade Debtors

-

-

-

0.3

Cash

0.0

0.0

0.0

0.0

Miscellaneous Current Assets

0.3

0.4

0.2

-

Other Current Assets

0.3

0.4

0.3

0.0

Total Current Assets

0.8

0.8

0.7

0.6

Total Assets

0.8

0.8

0.7

0.7

Net assets

0.3

0.3

0.3

0.4

Total Current Liabilities

0.5

0.4

0.4

0.3

Total Liabilities

0.5

0.4

0.4

0.3

Share Capital And Other Reserves

0.3

0.3

0.3

0.3

Profit & Loss Account Reserve

0.0

0.0

0.0

0.1

Shareholders Funds

0.3

0.3

0.3

0.4

Capital Employed

0.3

0.3

0.3

0.4

Net Worth

0.3

0.3

0.3

0.4

Working Capital

0.3

0.3

0.3

0.4

Liquid Assets

0.3

0.4

0.3

0.3

Trade Creditors

-

-

-

0.3

Miscellaneous Current Liabilities

0.5

0.4

0.4

-

 

 

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate (Period Average)

0.71919

0.755078

0.719047

0.683679

Consolidated

No

No

No

No

 

 

 

 

 

Net Cash

0.0

0.0

0.0

0.0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.67.02

UK Pound

1

Rs.104.31

Euro

1

Rs.88.23

 

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%)