MIRA INFORM REPORT
|
Report Date : |
23.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
LYNFRAE TRADING
COMPANY LIMITED |
|
|
|
|
Registered Office : |
177 Lower Rathmines Road, Dublin 6 999930 |
|
|
|
|
Country : |
Ireland |
|
|
|
|
Financials (as on) : |
31.10.2013 |
|
|
|
|
Date of Incorporation : |
20.10.2009 |
|
|
|
|
Com. Reg. No.: |
IE476589 |
|
|
|
|
Legal Form : |
Private Company |
|
|
|
|
Line of Business : |
Engaged in floor
and Wall Covering |
|
|
|
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Ireland |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. Ireland entered into a
recession in 2008 for the first time in more than a decade, with the subsequent
collapse of its domestic property market and construction industry. 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 an even more important 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 saless 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 to
stabilize Ireland’s public finances. 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 country’s deeply troubled banking sector.
In late 2010, the former COWEN government agreed to a $92 billion loan package
from the EU and IMF to help Dublin recapitalize Ireland’s fragile 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 has grown
slowly since 2011, but managed to reduce the budget deficit to 7.2% of GDP in
2013. In late 2013, Ireland formally exited its EU-IMF bailout program,
benefiting from its strict adherence to deficit-reduction targets and success
in refinancing a large amount of banking-related debt.
|
Source : CIA |
REGISTERED
NAME & COMPANY SUMMARY
Summary – Company
Information
|
Company
Name |
LYNFRAE
TRADING COMPANY LIMITED |
Company
Number |
IE476589 |
|
Registered
Address |
177
LOWER RATHMINES ROAD |
|
|
|
Incorporation
Date |
20/10/2009 |
Company
Status |
Active - Accounts Filed |
|
Previous
Name |
|
Type |
Private Company |
|
Date
of Change |
- |
Filing
Date of Accounts |
- |
|
|
|
Share
Capital |
€100 |
|
SIC03 |
4543 |
Currency
|
EUR |
|
SIC03
Description |
Engaged in floor
and Wall Covering |
||
|
SIC07 |
43330 |
||
|
SIC07
Description |
Engaged in floor
and Wall Covering |
||
DIRECTORS/MANAGEMENT
Directors
|
Total Current Directors |
2 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
1 |
Current Directors
|
Name |
THERESE HANCE |
Date of Birth |
08/10/1946 |
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
20/10/2009 |
|
|
|
Address |
67 BARTON ROAD, RATHFARNHAM, DUBLIN 16 |
||
|
Name |
JACQUELINE STOW |
Date of Birth |
22/10/1971 |
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
20/10/2009 |
|
|
|
Address |
2 COOKSTOWN COTTAGES, ENNISKERRY, CO.
WICKLOW |
||
Current Company
Secretary
|
Name |
THERESE HANCE |
Date of Birth |
- |
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
1 |
Function |
Company Secretary |
|
Appointment Date |
20/10/2009 |
|
|
|
Address |
67 BARTON ROAD WEST, RATHFARNHAM, DUBLIN 14 |
||
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
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 |
|
THERESE HANCE |
EUR |
100 |
ORDINARY |
1 |
100 |
PAYMENT
INFORMATION
Summary – Payment
History
Key Financials
|
Year
to Date |
Turnover |
Pre
Tax Profit |
Shareholder
Funds |
Employees |
|
31/10/2013 |
- |
- |
€46,063 |
- |
|
31/10/2012 |
- |
- |
-€47,045 |
- |
|
31/10/2011 |
- |
- |
€47,126 |
- |
Payment Information Summary
|
Days
Beyond Terms |
Trend Indicator |
Average
Payment Experience |
|
||||
|
Steady Improving Worsening |
Be the first to leave a payment experience |
|
GROUP
STRUCTURE & AFFILIATED COMPANIES
Group Structure
No group structure
Statistics
|
Group |
- |
|
Linkages
|
0 companies |
|
Countries
|
In 0 countries |
Business Owner Links
|
Business
Name |
Business
No |
Business
Status. |
|
LYNFRAE TRADING COMPANY LIMITED |
E476589 |
|
|
KASHAN CARPETS &
FLOORING |
497661 |
NORMAL |
|
R & TH CARPETS |
425814 |
NORMAL |
FINANCIAL
INFORMATION
Balance Sheet
|
Date Of Accounts |
31/10/13 |
|
31/10/12 |
|
31/10/11 |
|
31/10/10 |
|
- |
|
Tangible Assets |
€67,876 |
|
€76,848 |
|
€50,531 |
|
0 |
|
- |
|
Intangible Assets |
0 |
|
0 |
|
0 |
|
0 |
|
- |
|
Total Fixed Assets |
€67,876 |
|
€76,848 |
|
€50,531 |
|
0 |
|
- |
|
Stock |
€376,716 |
|
€263,007 |
|
€254,146 |
|
0 |
|
- |
|
Trade Debtors |
€113,842 |
|
€64,157 |
|
€20,317 |
|
€100 |
|
- |
|
Cash |
€7,567 |
|
€1,758 |
|
€3,780 |
|
0 |
|
- |
|
Other Debtors |
€3,584 |
|
€1,809 |
|
€102,384 |
|
0 |
|
- |
|
Miscellaneous Current Assets |
0 |
|
0 |
|
0 |
|
0 |
|
- |
|
Total Current Assets |
€501,709 |
|
€330,731 |
|
€380,627 |
|
€100 |
|
- |
|
Trade Creditors |
€434,612 |
|
€395,189 |
|
€310,852 |
|
€500 |
|
- |
|
Bank Loans & Overdrafts |
€81,839 |
|
€34,526 |
|
€66,616 |
|
0 |
|
- |
|
Other Short Term Finance |
0 |
|
0 |
|
0 |
|
0 |
|
- |
|
Miscellaneous Current Liabilities |
€7,071 |
|
€24,909 |
|
€6,564 |
|
0 |
|
- |
|
Total Current Liabilities |
€523,522 |
|
€454,624 |
|
€384,032 |
|
€500 |
|
- |
|
Bank Loans & Overdrafts and LTL |
€81,839 |
|
€34,526 |
|
€66,616 |
|
0 |
|
- |
|
Other Long Term Finance |
0 |
|
0 |
|
0 |
|
0 |
|
- |
|
Total Long Term Liabilities |
0 |
|
0 |
|
0 |
|
0 |
|
- |
Capital &
Reserves
|
Date Of Accounts |
31/10/13 |
|
31/10/12 |
|
31/10/11 |
|
31/10/10 |
|
- |
|
Called Up Share Capital |
€150 |
|
€100 |
|
€100 |
|
€100 |
|
- |
|
P & L Account Reserve |
-€31,037 |
|
-€47,145 |
|
€47,026 |
|
-€500 |
|
- |
|
Revaluation Reserve |
- |
|
- |
|
- |
|
- |
|
- |
|
Sundry Reserves |
€76,950 |
|
- |
|
- |
|
- |
|
- |
|
Shareholder Funds |
€46,063 |
|
-€47,045 |
|
€47,126 |
|
-€400 |
|
- |
Other Financial
Items
|
Date Of Accounts |
31/10/13 |
|
31/10/12 |
|
31/10/11 |
|
31/10/10 |
|
- |
|
Net Worth |
€46,063 |
|
-€47,045 |
|
€47,126 |
|
-€400 |
|
- |
|
Working Capital |
-€21,813 |
|
-€123,893 |
|
-€3,405 |
|
-€400 |
|
- |
|
Total Assets |
€569,585 |
|
€407,579 |
|
€431,158 |
|
€100 |
|
- |
|
Total Liabilities |
€523,522 |
|
€454,624 |
|
€384,032 |
|
€500 |
|
- |
|
Net Assets |
€46,063 |
|
-€47,045 |
|
€47,126 |
|
-€400 |
|
- |
Miscellaneous
|
Date Of Accounts |
31/10/13 |
|
31/10/12 |
|
31/10/11 |
|
31/10/10 |
|
- |
|
Contingent Liability |
NO |
|
NO |
|
NO |
|
NO |
|
- |
|
Capital Employed |
€46,063 |
|
-€47,045 |
|
€47,126 |
|
-€400 |
|
- |
|
Number of Employees |
- |
|
- |
|
- |
|
- |
|
- |
|
Auditors |
|
||||||||
|
Auditor Comments |
The company is exempt from audit |
||||||||
Ratios
|
Date Of Accounts |
31/10/13 |
31/10/12 |
31/10/11 |
31/10/10 |
- |
|
Pre-tax profit margin % |
- |
- |
- |
- |
- |
|
Current ratio |
0.96 |
0.73 |
0.99 |
0.20 |
- |
|
Sales/Net Working Capital |
- |
- |
- |
- |
- |
|
Gearing % |
177.70 |
-73.40 |
141.40 |
0 |
- |
|
Equity in % |
8.10 |
-11.50 |
10.90 |
-400 |
- |
|
Creditor Days |
- |
- |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid Test |
0.23 |
0.14 |
0.32 |
0.20 |
- |
|
Return On Capital Employed % |
- |
- |
- |
- |
- |
|
Return On Total Assets Employed % |
- |
- |
- |
- |
- |
|
Current Debt Ratio |
11.36 |
-9.66 |
8.14 |
-1.25 |
- |
|
Total Debt Ratio |
11.36 |
-9.66 |
8.14 |
-1.25 |
- |
|
Stock Turnover Ratio % |
- |
- |
- |
- |
- |
|
Return on Net Assets Employed % |
- |
- |
- |
- |
- |
ADDITIONAL
INFORMATION
Commentary
|
No exact match CCJs are recorded against the
company. |
|
|
There is insufficient data to indicate a
change in this company's percentage of sales. |
|
|
Net Worth increased by 197.9% during the
latest trading period. |
|
|
A 39.7% growth in Total Assets occurred
during the latest trading period. |
|
|
There is insufficient data to indicate a
change in this company's pre-tax profit. |
|
|
The company saw an increase in their Cash
Balance of 330.4% 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 movement in accumulated earnings would
indicate that the company made a profit after tax and other appropriations,
including dividends. |
|
|
The company was established over 4 years
ago. |
|
Event
History
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
05/02/2014 |
New Accounts Filed |
|
31/01/2014 |
New Accounts Filed |
|
27/01/2014 |
Annual Returns |
|
02/07/2013 |
New Accounts Filed |
|
27/06/2013 |
New Accounts Filed |
|
24/06/2013 |
Annual Returns |
|
11/05/2013 |
Annual Returns |
|
15/05/2012 |
New Accounts Filed |
|
12/05/2012 |
New Accounts Filed |
|
09/05/2012 |
Annual Returns |
|
18/05/2011 |
Annual Returns |
|
18/05/2011 |
New Accounts Filed |
|
28/09/2010 |
Annual Returns |
|
20/10/2009 |
COMPANY SERVICES LIMITED has resigned as company
secretary |
|
20/10/2009 |
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.60.71 |
|
UK Pound |
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.83.77 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MNL |
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.