.
MIRA
INFORM REPORT
|
Report Date : |
28.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOBACCO TRADING & SERVICES (INTERNATIONAL) LIMITED |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
30.03.2005 |
|
|
|
|
Com. Reg. No.: |
IE399817 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Wholesale of grain, unmanufactured tobacco,
seeds and animal feeds |
|
|
|
|
No. of Employees : |
2 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
TOBACCO TRADING & SERVICES (INTERNATIONAL) LIMITED |
Company Number |
IE399817 |
|
Registered Address |
22 NORTHUMBERLAND ROAD |
|
|
|
Website Address |
- |
|
|
|
Telephone Number |
NotListed |
|
|
|
TPS |
No |
|
|
|
Incorporation Date |
30/03/2005 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
|
Type |
Other |
|
Date of Change |
- |
Filing Date of Accounts |
- |
|
|
|
Share Capital |
€100 |
|
SIC03 |
51250 |
Currency |
EUR |
|
SIC03 Description |
Wholesale of unmanufactured tobacco |
||
|
SIC07 |
46210 |
||
|
SIC07 Description |
WHOLESALE OF GRAIN, UNMANUFACTURED TOBACCO, SEEDS AND ANIMAL FEEDS |
||
|
Principal Activity |
A group engaged in the dealing in international leaf tobacco and
products. Accounts data converted from US Dollars. |
||
DIRECTORS/MANAGEMENT
|
Total Current Directors |
2 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
8 |
Current Directors
|
Name |
Date of Birth |
26/05/1963 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
245 |
Function |
Director |
|
Appointment Date |
01/04/2009 |
|
|
|
Address |
5 CAIRN MANOR, RATOATH, CO. MEATH. |
||
|
Name |
Date of Birth |
25/06/1974 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
27 |
Function |
Director |
|
Appointment Date |
11/01/2011 |
|
|
|
Address |
12 GALMOY ROAD, CABRA, DUBLIN 7. |
||
Current Company Secretary
|
Name |
Date of Birth |
18/05/1993 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
885 |
Function |
Company Secretary |
|
Appointment Date |
01/01/2009 |
|
|
|
Address |
|
|
|
NEGATIVE INFORMATION
CJ
|
Total Number of Exact CJs - |
Total Value of Exact CJs - |
||
|
Total Number of Possible CJs - |
Total Value of Possible CJs - |
||
|
Total Number of Satisfied CJs - |
Total Value of Satisfied CJs - |
Exact CJ Details
There are no exact CJ details
Possible CJ
Details
There are no possible CJ details
SHARE & SHARE CAPITAL
INFORMATION
Top 20
Shareholders
|
Name |
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share
Count |
|
TTS GROUP HOLDINGS LTD |
EUR |
100 |
ORDINARY |
1 |
100 |
PAYMENT INFORMATION
Payment Information Summary
|
Days Beyond Terms |
Trend Indicator |
Average
Payment Experience |
|
||||
|
Steady Improving Worsening |
Within Terms |
|
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GROUP STRUCTURE & AFFILIATED
COMPANIES
Statistics
|
Group |
2 companies |
|
Linkages |
|
|
Countries |
Summary
|
Holding Company |
- |
|
Ownership Status |
Intermediately Owned |
|
Ultimate Holding Company |
TTS GROUP HOLDINGS LTD |
Group structure
|
Company Name |
Registered
Number |
Latest Key
Financials |
Consol. Accounts |
Turnover |
|
|
N/A |
- |
- |
|
|
|
IE399817 |
31.03.2012 |
Y |
€18,160,212 |
FINANCIAL INFORMATION
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder
Funds |
Employees |
|
31/03/2012 |
€18,160,212 |
€687,412 |
€1,707,360 |
2 |
|
31/03/2011 |
€21,626,718 |
€29,339 |
€1,399,083 |
2 |
|
31/03/2010 |
€33,051,329 |
€1,163,432 |
€1,446,151 |
1 |
Profit & Loss
|
Date Of Accounts |
31/03/12 |
31/03/11 |
31/03/10 |
31/03/09 |
31/03/08 |
|
Weeks |
52 |
52 |
52 |
52 |
52 |
|
Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Consolidated A/cs |
Y |
Y |
Y |
Y |
N |
|
Turnover |
€18,160,212 |
€21,626,718 |
€33,051,329 |
€27,574,129 |
- |
|
Export |
- |
- |
- |
- |
- |
|
Cost of Sales |
€16,535,195 |
€19,721,277 |
€30,991,032 |
€26,381,170 |
- |
|
Gross Profit |
€1,625,017 |
€1,905,441 |
€2,060,298 |
€1,192,959 |
€1,230,805 |
|
Wages & Salaries |
€87,052 |
€73,328 |
€62,338 |
€49,566 |
€97,798 |
|
Directors Emoluments |
€56,162 |
€49,972 |
€55,497 |
€46,673 |
€97,798 |
|
Operating Profit |
€705,208 |
€73,227 |
€1,225,132 |
€356,984 |
€328,892 |
|
Depreciation |
€3,566 |
€3,273 |
€708 |
€180 |
- |
|
Audit Fees |
€6,630 |
€6,630 |
€6,973 |
€5,964 |
€12,708 |
|
Interest Payments |
€32,365 |
€46,839 |
€64,889 |
€42,529 |
€218,556 |
|
Pre Tax Profit |
€687,412 |
€29,339 |
€1,163,432 |
€316,184 |
€110,336 |
|
Taxation |
-€84,457 |
-€5,378 |
-€152,568 |
-€115,821 |
-€13,792 |
|
Profit After Tax |
€602,954 |
€23,961 |
€1,010,864 |
€200,362 |
€96,544 |
|
Dividends Payable |
€294,677 |
- |
- |
- |
- |
|
Retained Profit |
€308,277 |
€23,961 |
€1,010,864 |
€200,362 |
€96,544 |
Balance Sheet
|
Date Of Accounts |
31/03/12 |
31/03/11 |
31/03/10 |
31/03/09 |
31/03/08 |
|
Tangible Assets |
€12,264 |
€21,185 |
€5,801 |
€2,119 |
0 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
0 |
|
Total Fixed Assets |
€12,264 |
€21,185 |
€5,801 |
€2,119 |
0 |
|
Stock |
€424,325 |
€485,938 |
€841,901 |
€159,297 |
€72,748 |
|
Trade Debtors |
€4,478,265 |
€2,140,984 |
€8,914,618 |
€5,298,065 |
€4,580,463 |
|
Cash |
€347,180 |
€631,854 |
€59,366 |
€21,147 |
0 |
|
Other Debtors |
€13,663 |
€194,137 |
€152,407 |
€426,886 |
€195,236 |
|
Miscellaneous Current Assets |
0 |
€14,268 |
0 |
0 |
€2,017 |
|
Total Current Assets |
€5,263,434 |
€3,467,180 |
€9,968,293 |
€5,905,395 |
€4,850,463 |
|
Trade Creditors |
€2,971,365 |
€1,979,874 |
€7,205,804 |
€3,705,757 |
€3,648,851 |
|
Bank Loans & Overdrafts |
€338,009 |
0 |
€858,128 |
€957,838 |
€384,120 |
|
Other Short Term Finance |
€30,794 |
0 |
€210,999 |
€116,166 |
€61,597 |
|
Miscellaneous Current Liabilities |
€228,170 |
€109,409 |
€253,012 |
€578,473 |
€438,114 |
|
Total Current Liabilities |
€3,568,339 |
€2,089,283 |
€8,527,942 |
€5,358,234 |
€4,532,682 |
|
Bank Loans & Overdrafts and LTL |
€338,009 |
0 |
€858,128 |
€1,088,292 |
€509,705 |
|
Other Long Term Finance |
0 |
0 |
0 |
€130,454 |
0 |
|
Total Long Term Liabilities |
0 |
0 |
0 |
€130,454 |
€125,584 |
Capital &
Reserves
|
Date Of Accounts |
31/03/12 |
31/03/11 |
31/03/10 |
31/03/09 |
31/03/08 |
|
Called Up Share Capital |
€96 |
€96 |
€101 |
€97 |
€93 |
|
P & L Account Reserve |
€1,707,264 |
€1,398,987 |
€1,446,050 |
€418,730 |
€192,103 |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
|
Sundry Reserves |
- |
- |
- |
- |
- |
|
Shareholder Funds |
€1,707,360 |
€1,399,083 |
€1,446,151 |
€418,827 |
€192,197 |
Other Financial
Items
|
Date Of Accounts |
31/03/12 |
31/03/11 |
31/03/10 |
31/03/09 |
31/03/08 |
|
Net Worth |
€1,707,360 |
€1,399,083 |
€1,446,151 |
€418,827 |
€192,197 |
|
Working Capital |
€1,695,095 |
€1,377,898 |
€1,440,350 |
€547,161 |
€317,781 |
|
Total Assets |
€5,275,698 |
€3,488,365 |
€9,974,093 |
€5,907,514 |
€4,850,463 |
|
Total Liabilities |
€3,568,339 |
€2,089,283 |
€8,527,942 |
€5,488,688 |
€4,658,266 |
|
Net Assets |
€1,707,360 |
€1,399,083 |
€1,446,151 |
€418,827 |
€192,197 |
Cash Flow
|
Date Of Accounts |
31/03/12 |
31/03/11 |
31/03/10 |
31/03/09 |
31/03/08 |
|
Net Cashflow from Operations |
- |
- |
€272,596 |
- |
-€388,977 |
|
Net Cashflow before Financing |
- |
- |
€352,230 |
- |
-€634,372 |
|
Net Cashflow from Financing |
- |
- |
- |
- |
- |
|
Increase in Cash |
- |
- |
€352,231 |
- |
-€634,372 |
Ratios
|
Date Of Accounts |
31/03/12 |
31/03/11 |
31/03/10 |
31/03/09 |
31/03/08 |
|
Pre-tax profit margin % |
3.79 |
0.14 |
3.52 |
1.15 |
- |
|
Current ratio |
1.48 |
1.66 |
1.17 |
1.10 |
1.07 |
|
Sales/Net Working Capital |
10.71 |
15.70 |
22.95 |
50.39 |
- |
|
Gearing % |
19.80 |
0 |
59.30 |
259.80 |
265.20 |
|
Equity in % |
32.40 |
40.10 |
14.50 |
7.10 |
4 |
|
Creditor Days |
59.55 |
33.32 |
79.35 |
48.91 |
- |
|
Debtor Days |
89.76 |
36.03 |
98.17 |
69.93 |
- |
|
Liquidity/Acid Test |
1.35 |
1.42 |
1.07 |
1.07 |
1.05 |
|
Return On Capital Employed % |
40.26 |
2.09 |
80.45 |
57.56 |
34.72 |
|
Return On Total Assets Employed % |
13.02 |
0.84 |
11.66 |
5.35 |
2.27 |
|
Current Debt Ratio |
2.08 |
1.49 |
5.89 |
12.79 |
23.58 |
|
Total Debt Ratio |
2.08 |
1.49 |
5.89 |
13.10 |
24.23 |
|
Stock Turnover Ratio % |
2.33 |
2.24 |
2.54 |
0.57 |
- |
|
Return on Net Assets Employed % |
40.26 |
2.09 |
80.45 |
75.49 |
57.40 |
FOREIGN EXCHANGE RATES
N/a
ADDITIONAL INFORMATION
Miscellaneous
|
Date Of Accounts |
31/03/12 |
|
31/03/11 |
|
31/03/10 |
|
31/03/09 |
|
31/03/08 |
|
Contingent Liability |
NO |
|
NO |
|
NO |
|
NO |
|
NO |
|
Capital Employed |
€1,707,360 |
|
€1,399,083 |
|
€1,446,151 |
|
€549,280 |
|
€317,781 |
|
Number of Employees |
2 |
|
2 |
|
1 |
|
2 |
|
5 |
|
Auditors |
MCCANN & CO |
||||||||
|
Auditor Comments |
The audit report contains no adverse
comments |
||||||||
|
Bankers |
BANK OF IRELAND |
||||||||
|
Bank Branch Code |
90-60-64 |
||||||||
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
05/03/2013 |
New Accounts Filed |
|
05/03/2013 |
New Accounts Filed |
|
04/03/2013 |
Annual Returns |
|
21/01/2012 |
New Accounts Filed |
|
21/01/2012 |
New Accounts Filed |
|
20/01/2012 |
Annual Returns |
|
25/01/2011 |
Annual Returns |
|
24/01/2011 |
New Accounts Filed |
|
24/01/2011 |
New Accounts Filed |
|
11/01/2011 |
ADAM O'CONNOR has left the board |
|
11/01/2011 |
New Board Member (YOLANDA ROMAN) appointed |
|
17/03/2010 |
Annual Returns |
|
15/03/2010 |
New Accounts Filed |
|
01/04/2009 |
JEAN YVES FARAUD has left the board |
|
01/04/2009 |
New Board Member (SEAN KAVANAGH) appointed |
Previous Company
Names
|
No Previous Names found |
Received Documents
NOTES & COMMENTS
Commentary
|
No exact match CCJs are recorded against the
company. |
|
Sales in the latest trading period decreased 16% on the previous
trading period. |
|
Net Worth increased by 22% during the latest trading period. |
|
A 51.2% growth in Total Assets occurred during the latest trading
period. |
|
Pre-tax profits increased by 999.9% compared to the previous trading
period. |
|
The company saw a decrease in their Cash Balance of 45.1% during the
latest trading period. |
|
The audit report contains no adverse comments. |
|
No recent changes in directorship are recorded. |
|
The company is part of a group. |
|
The company was established over 8 years ago. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.71 |
|
|
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.85.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.