MIRA INFORM REPORT

 

 

Report Date :

29.07.2014

 

 

 

Tel. No.:

353449341638

Fax No.:

353449342355

 

IDENTIFICATION DETAILS

 

Name :

QUALITY TRACTOR PARTS LIMITED

 

 

Registered Office :

Zone C, Mullingar Business Parg, Mullingar, 494806

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

27.09.2000

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

Import, Exporter and Distribution of Spare Parts For Agricultural Tractors. 

 

 

No. of Employees :

Not Available

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Ireland

B1

A2

 

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. 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 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 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

 

QUALITY TRACTOR PARTS LIMITED

 

 

COMPANY SUMMARY

 

 

 

DIRECTORS/MANAGEMENT

 

Current Directors

 

Name

MATTHEW BUCKLEY

Date of Birth

07/02/1950

Officers Title

 

Nationality

 

Present Appointments

2

Function

Director

Appointment Date

27/09/2000

 

 

Address

120 HILLSIDE DRIVE, MULLINGAR CO. WESTMEATH

Other Actions

View Director Report

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

MARINA BUCKLEY

Date of Birth

06/11/1954

Officers Title

 

Nationality

 

Present Appointments

3

Function

Director

Appointment Date

27/09/2000

 

 

Address

120 HILLSIDE DRIVE, MULLINGAR, CO WESTMEATH

Other Actions

View Director Report

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

Current Company Secretary

 

Name

MARINA BUCKLEY

Date of Birth

06/11/1954

Officers Title

 

Nationality

 

Present Appointments

3

Function

Company Secretary

Appointment Date

28/09/2000

 

 

Address

120 HILLSIDE DRIVE, MULLINGAR, CO WESTMEATH

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

COMPANY SERVICES LIMITED

0

7

 

 

NEGATIVE INFORMATION

 

Mortgage Summary

Total Mortgage     0

Outstanding         0

Satisfied              0

 

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade      0

Total Value of Documented Trade        €0

 

 

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

 

 

Possible CJ Details

 

There are no possible CJ details.

Unregistered - Exact CJ Details

 

No CJs found

 

 

Unregistered - Possible CJ Details

 

No CJs found

 

 

Registered - Exact CJ Details

 

No CJs found

 

 

Registered - Possible CJ Details

 

No CJs found

 

 

SHARE & SHARE CAPITAL INFORMATION

 

TOP 20 SHAREHOLDERS

 

Name

Currency

Share Count

Share Type

Nominal Value

MARINA BUCKLEY

EUR

786

ORDINARY

1.27

MATTHEW BUCKLEY

EUR

786

ORDINARY

1.27

QTP HOLDINGS LTD

EUR

428

ORDINARY

1.27

MARINA BUCKLEY

EUR

50

ORDINARY A

1.27

MATTHEW BUCKLEY

EUR

50

ORDINARY A

1.27

 

 

PAYMENT INFORMATION

 

Average Invoice Value

n/a

Invoices available

n/a

Paid

n/a

Outstanding

n/a

 

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

 

 

Within Terms

0-30 Days

31-60 Days

61-90 Days

91+ Days

Paid

 

 

 

 

 

Outstanding

 

 

 

 

 

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

-

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

-

Ownership Status

 

Ultimate Holding Company

-

 

Group structure

No group structure

 

 

FINANCIAL INFORMATION

 

 

 

Profit & Loss

 

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

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

€3,978,147

4.5%

€3,807,383

1.8%

€3,738,704

7.4%

€3,479,801

-17.6%

€4,223,980

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

€105,912

-29.8%

€150,893

30.7%

€115,477

8.8%

€106,100

29.1%

€82,160

Operating Profit

€1,373,595

-3.1%

€1,417,223

-7.1%

€1,524,763

-3.6%

€1,582,058

-10%

€1,757,258

Depreciation

€56,589

16.5%

€48,563

-4.2%

€50,704

-3.5%

€52,527

-13%

€60,387

Audit Fees

€8,000

6.7%

€7,500

-

€7,500

-

€7,500

-46.4%

€14,000

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

€1,460,571

-0.7%

€1,470,691

241.3%

-€1,040,835

-162%

€1,677,931

-13.4%

€1,936,576

Taxation

-€149,497

0.4%

-€150,105

-505.4%

-€24,794

88.2%

-€210,141

-102.7%

-€103,667

Profit After Tax

€1,311,074

-0.7%

€1,320,586

223.9%

-€1,065,629

-172.6%

€1,467,790

-19.9%

€1,832,909

Dividends Payable

€114,425

-

-

-100%

€62,644

-

-

-100%

€316,015

Retained Profit

€1,196,649

-9.4%

€1,320,586

217%

-€1,128,273

-176.9%

€1,467,790

-3.2%

€1,516,894

 

 

Balance Sheet

 

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Tangible Assets

€2,400,075

22.1%

€1,965,991

-0.4%

€1,974,557

335.5%

€453,389

-9%

€498,392

Intangible Assets

€3,000,000

-

€3,000,000

-

€3,000,000

-

€3,000,000

-

€3,000,000

Total Fixed Assets

€5,400,075

8.7%

€4,965,991

-0.2%

€4,974,557

44%

€3,453,389

-1.3%

€3,498,392

Stock

€3,718,095

18.2%

€3,146,246

4%

€3,024,147

-3%

€3,116,340

-6.2%

€3,322,845

Trade Debtors

€1,288,361

-1.2%

€1,303,721

-0.9%

€1,314,932

8.4%

€1,212,488

-26.7%

€1,653,097

Cash

€3,678,777

46.9%

€2,504,465

71.6%

€1,459,301

-65%

€4,168,076

32.7%

€3,140,770

Other Debtors

€17,857

3.5%

€17,245

2.4%

€16,845

13.4%

€14,859

36.2%

€10,908

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

€8,703,090

24.8%

€6,971,677

19.9%

€5,815,225

-31.7%

€8,511,763

4.7%

€8,127,620

Trade Creditors

€940,358

33.4%

€705,136

-25.8%

€950,103

13.6%

€836,089

27.6%

€655,249

Bank Loans & Overdrafts

€34,705

-

0

-

0

-

0

-

0

Other Short Term Finance

€789,022

999.9%

€15,836

-74%

€60,975

426.3%

€11,586

-99.2%

€1,474,228

Miscellaneous Current Liabilities

€85,055

-46.6%

€159,320

280.1%

€41,912

-83.4%

€251,845

154.9%

€98,810

Total Current Liabilities

€1,849,140

110.1%

€880,292

-16.4%

€1,052,990

-4.2%

€1,099,520

-50.7%

€2,228,287

Bank Loans & Overdrafts and LTL

€34,705

-

0

-

0

-100%

€692

20.8%

€573

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-

0

-

0

-100%

€692

20.8%

€573

 

 

Capital & Reserves

 

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Called Up Share Capital

€2,666

-

€2,666

-

€2,666

5%

€2,539

-

€2,539

P & L Account Reserve

€12,251,359

10.8%

€11,054,710

13.6%

€9,734,126

-10.4%

€10,862,401

15.6%

€9,394,613

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

€12,254,025

10.8%

€11,057,376

13.6%

€9,736,792

-10.4%

€10,864,940

15.6%

€9,397,152

 

 

Other Financial Items

 

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Net Worth

€9,254,025

14.9%

€8,057,376

19.6%

€6,736,792

-14.3%

€7,864,940

22.9%

€6,397,152

Working Capital

€6,853,950

12.5%

€6,091,385

27.9%

€4,762,235

-35.8%

€7,412,243

25.6%

€5,899,333

Total Assets

€14,103,165

18.1%

€11,937,668

10.6%

€10,789,782

-9.8%

€11,965,152

2.9%

€11,626,012

Total Liabilities

€1,849,140

110.1%

€880,292

-16.4%

€1,052,990

-4.3%

€1,100,212

-50.6%

€2,228,860

Net Assets

€12,254,025

10.8%

€11,057,376

13.6%

€9,736,792

-10.4%

€10,864,940

15.6%

€9,397,152

 

 

Cash Flow

 

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Net Cashflow from Operations

€1,930,411

89.5%

€1,018,729

203%

-€989,002

-187.4%

€1,131,226

176%

-€1,488,422

Net Cashflow before Financing

€1,139,607

9%

€1,045,164

187.5%

-€1,194,001

-216.2%

€1,027,308

150.8%

-€2,021,631

Net Cashflow from Financing

-

-

-

100%

-€1,514,773

-

-

-

-

Increase in Cash

€1,139,607

9%

€1,045,164

138.6%

-€2,708,774

-363.7%

€1,027,308

150.8%

-€2,021,631

 

 

Miscellaneous

 

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

€12,254,025

10.8%

€11,057,376

13.6%

€9,736,792

-10.4%

€10,865,632

15.6%

€9,397,725

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

MA STEPHENS & CO.

Auditor Comments

The audit report contains no adverse comments

Bankers

ULSTER BANK LTD

Bank Branch Code

 

 

 

Ratios

 

Date Of Accounts

31/12/12

31/12/11

31/12/10

31/12/09

31/12/08

Pre-tax profit margin %

-

-

-

-

-

Current ratio

4.71

7.92

5.52

7.74

3.65

Sales/Net Working Capital

-

-

-

-

-

Gearing %

0.30

0

0

0

0

Equity in %

110.40

123.70

125

121.20

108.90

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

2.69

4.34

2.65

4.90

2.15

Return On Capital Employed %

11.91

13.30

-10.68

15.44

20.60

Return On Total Assets Employed %

10.35

12.31

-9.64

14.02

16.65

Current Debt Ratio

0.15

0.07

0.10

0.10

0.23

Total Debt Ratio

0.15

0.07

0.10

0.10

0.23

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

11.91

13.30

-10.68

15.44

20.60

 

 

FOREIGN EXCHANGE RATES

 

N/a

 

ADDITIONAL INFORMATION

 

Enquiries Trend

There have been 62 enquiries in the last 12 months.

There are an average of 5 reports taken each month.

 

 

Status History

 

No Status History found.

 

 

Event History

 

Date

Description

02/12/2013

Annual Returns

02/12/2013

New Accounts Filed

02/12/2013

New Accounts Filed

11/07/2013

Annual Returns

15/08/2012

New Accounts Filed

15/08/2012

New Accounts Filed

14/08/2012

Annual Returns

16/08/2011

New Accounts Filed

16/08/2011

New Accounts Filed

13/08/2011

Annual Returns

25/08/2010

Annual Returns

24/08/2010

New Accounts Filed

24/08/2010

New Accounts Filed

24/08/2009

Annual Returns

20/08/2009

New Accounts Filed

 

 

Previous Company Names

 

No Previous Names found.

 

 

Business Owner Links

 

Business Name

Business No

Business Status.

MATT BUCKLEY TRACTOR SPARES LIMITED

IE333183

 

  MATT BUCKLEY TRACTOR SPARES

187086

NORMAL

  QTP (QUALITY TRACTOR PARTS)

228839

NORMAL

NOTES & COMMENTS

 

Commentary

 

No exact match CCJs are recorded against the company.

There has been no significant change in the company's credit rating.

There is insufficient data to indicate a change in this company's percentage of sales.

Net Worth increased by 14.9% during the latest trading period.

 

A 18.1% growth in Total Assets occurred during the latest trading period.

Pre-tax profits decreased by 0.7% compared to the previous trading period.

The company saw an increase in their Cash Balance of 46.9% during the latest trading period.

The audit report contains no adverse comments.

No recent changes in directorship are recorded.

The company is not part of a group.

The company was established over 13 years ago.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.10

UK Pound

1

Rs.102.04

Euro

1

Rs.80.74

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

TPT

 

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.