MIRA INFORM REPORT

Report Date :

02.06.2014

IDENTIFICATION DETAILS

Name :	NATURAL STONE YARD (THE WARD) LIMITED
Registered Office :	Dublin Road Ashbourne Co Meath 23604
Country :	Ireland
Financials (as on) :	30.04.2013
Date of Incorporation :	11.04.2006
Legal Form :	Private Company
Line of Business :	Subject is engaged in cutting, shaping and finishing of stone
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 – 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 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 & COMPANY SUMMARY

NATURAL STONE YARD (THE WARD) LIMITED

DIRECTORS/MANAGEMENT

Current Directors

Name	KATHLEEN TORMEY	Date of Birth	03/10/1962
Officers Title		Nationality
Present Appointments	2	Function	Director
Appointment Date	01/05/2013
Address	FLEENSTOWN, THE WARD, CO DUBLIN, IRELAND
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	TIMOTHY TWOMEY	Date of Birth	23/07/1966
Officers Title		Nationality
Present Appointments	1	Function	Director
Appointment Date	11/04/2006
Address	26 WHITE ASH PARK, ASHBOURNE, CO. MEATH
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	KATHLEEN TORMEY	Date of Birth	03/10/1962
Officers Title		Nationality
Present Appointments	2	Function	Company Secretary
Appointment Date	01/05/2013
Address	FLEENSTOWN, THE WARD, CO DUBLIN, IRELAND

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
GILLIAN TWOMEY	0	2
GILLIAN TWOMEY	0	2
PETER DOYLE	93	747
PETER DOYLE	93	747
DOLORES DOYLE	4	317

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

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	% of Total Share Count
TIMOTHY TWOMEY	EUR	100	ORDINARY	1	100

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

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group structure

No group structure

FINANCIAL INFORMATION

Profit & Loss

Date Of Accounts	30/04/13	(%)	30/04/12	(%)	30/04/11	(%)	30/04/10	(%)	30/04/09
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	-	-	-	-	-	-	-	-	-
Wages & Salaries	-	-	-	-	-	-	-	-	-
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	-	-	-	-	-	-	-	-	-
Depreciation	-	-	-	-	-	-	€75,486	1.9%	€74,110
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	-	-	-	-	-	-	-	-	-
Pre Tax Profit	-	-	-	-	-	-	-	-	-
Taxation	-	-	-	-	-	-	-	-	-
Profit After Tax	-	-	-	-	-	-	-	-	-
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	30/04/13	(%)	30/04/12	(%)	30/04/11	(%)	30/04/10	(%)	30/04/09
Tangible Assets	€162,411	107.2%	€78,376	-48.1%	€150,990	-33.8%	€228,103	-18.4%	€279,566
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	€162,411	107.2%	€78,376	-48.1%	€150,990	-33.8%	€228,103	-18.4%	€279,566
Stock	€429,217	10.9%	€387,204	-7.7%	€419,730	6.9%	€392,769	-2.1%	€401,012
Trade Debtors	€123,167	-12.4%	€140,577	-10.6%	€157,227	-18.8%	€193,635	30.9%	€147,980
Cash	€206,320	-2%	€210,443	-8.6%	€230,188	-16.1%	€274,353	-12.3%	€312,719
Other Debtors	0	-100%	€841	-54.4%	€1,846	-	0	-100%	€13,254
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	€758,704	2.7%	€739,065	-8.6%	€808,991	-6%	€860,757	-1.6%	€874,965
Trade Creditors	€119,942	-6.1%	€127,681	-16%	€152,056	-53%	€323,861	17.9%	€274,578
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	€33,079	17.5%	€28,150	-52%	€58,629	-	0	-	0
Miscellaneous Current Liabilities	€11,693	-57.4%	€27,439	-46.6%	€51,397	-	0	-100%	€62,856
Total Current Liabilities	€164,714	-10.1%	€183,270	-30.1%	€262,082	-19.1%	€323,861	-4%	€337,434
Bank Loans & Overdrafts and LTL	€81,070	-	0	-100%	€27,825	-67.5%	€85,628	-41.9%	€147,395
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	€81,070	-	0	-100%	€27,825	-67.5%	€85,628	-41.9%	€147,395

Capital & Reserves

Date Of Accounts	30/04/13	(%)	30/04/12	(%)	30/04/11	(%)	30/04/10	(%)	30/04/09
Called Up Share Capital	€100	-	€100	-	€100	-	€100	-	€100
P & L Account Reserve	€675,231	6.5%	€634,071	-5.4%	€669,974	-1.4%	€679,271	1.4%	€669,602
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	€675,331	6.5%	€634,171	-5.4%	€670,074	-1.4%	€679,371	1.4%	€669,702

Other Financial Items

Date Of Accounts	30/04/13	(%)	30/04/12	(%)	30/04/11	(%)	30/04/10	(%)	30/04/09
Net Worth	€675,331	6.5%	€634,171	-5.4%	€670,074	-1.4%	€679,371	1.4%	€669,702
Working Capital	€593,990	6.9%	€555,795	1.6%	€546,909	1.9%	€536,896	-0.1%	€537,531
Total Assets	€921,115	12.7%	€817,441	-14.8%	€959,981	-11.8%	€1,088,860	-5.7%	€1,154,531
Total Liabilities	€245,784	34.1%	€183,270	-36.8%	€289,907	-29.2%	€409,489	-15.5%	€484,829
Net Assets	€675,331	6.5%	€634,171	-5.4%	€670,074	-1.4%	€679,371	1.4%	€669,702

Miscellaneous

Date Of Accounts	30/04/13	(%)	30/04/12	(%)	30/04/11	(%)	30/04/10	(%)	30/04/09
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	€756,401	19.3%	€634,171	-9.1%	€697,899	-8.8%	€764,999	-6.4%	€817,097
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers	ALLIED IRISH BANK
Bank Branch Code	93-21-32

Ratios

Date Of Accounts	30/04/13	30/04/12	30/04/11	30/04/10	30/04/09
Pre-tax profit margin %	-	-	-	-	-
Current ratio	4.61	4.03	3.09	2.66	2.59
Sales/Net Working Capital	-	-	-	-	-
Gearing %	12	0	4.20	12.60	22
Equity in %	73.30	77.60	69.80	62.40	58
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	2	1.91	1.48	1.44	1.40
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	0.24	0.28	0.39	0.47	0.50
Total Debt Ratio	0.36	0.28	0.43	0.60	0.72
Stock Turnover Ratio %	-	-	-	-	-
Return on Net Assets Employed %	-	-	-	-	-

Creditor Details

	Total Number	Total Value
Trade Creditors	0	-

No Creditor Data

Trade Debtors / Bad Debt Detail

	Total Number of Documented Trade	Total Value of Documented Trade
Trade Debtors	-	-

No Debtor Data

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Status History

No Status History found.

Event History

Date	Description
01/08/2013	New Accounts Filed
30/07/2013	Annual Returns
01/05/2013	GILLIAN TWOMEY has left the board
01/05/2013	GILLIAN TWOMEY has resigned as company secretary
01/05/2013	New Board Member (KATHLEEN TORMEY) appointed
01/05/2013	New Company Secretary (KATHLEEN TORMEY) appointed
24/04/2013	New Accounts Filed
23/04/2013	Annual Returns
27/10/2012	New Accounts Filed
27/10/2012	New Accounts Filed
22/10/2012	Annual Returns
27/10/2011	New Accounts Filed
27/10/2011	New Accounts Filed
25/10/2011	Annual Returns
11/11/2010	New Accounts Filed

Previous Company Names

No Previous Names found.

Business Owner Links

Business Name	Business No	Business Status.
NATURAL STONE YARD (THE WARD) LIMITED	IE418409
NATURAL STONE YARD	301012	NORMAL

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.

The company's credit rating has increased from 81 to 86 which indicates very good creditworthiness.

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

Net Worth increased by 6.5% during the latest trading period.

A 12.7% 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 a decrease in their Cash Balance of 2% during the latest trading period.

The company is exempt from audit.

The company has undergone recent changes in its directorships.

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 7 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.03
UK Pound	1	Rs.98.91
Euro	1	Rs.80.34

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	NIS

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.