MIRA INFORM REPORT

Report Date :

03.06.2014

IDENTIFICATION DETAILS

Name :	MAT DYNAMICS LIMITED
Registered Office :	77A Foxes Grove Shankill Dublin 18 216410
Country :	Ireland
Financials (as on) :	30.09.2013
Date of Incorporation :	04.05.2011
Com. Reg. No.:	IE498251
Legal Form :	Private limited with Share Capital
Line of Business :	Wholesale of Household Goods (Other Than Musical Instruments)
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 :	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

Company name and address

Company Name: MAT DYNAMICS LIMITED

Company No: IE498251

Registered Address: 77A FOXES GROVE

SHANKILL

DUBLIN 18

216410

Company information

Registered Address 77A FOXES GROVE

SHANKILL

DUBLIN 18

216410

TPS - FPS No

Incorporation Date 04/05/2011

Previous Name Type Private limited with Share Capital

Currency EUR

Share Capital €10

SIC07 46499

SIC07 Description Wholesale Of Household Goods (Other Than Musical Instruments) N.E.C.

Commentary

No exact match CCJs are recorded against the company.

Net Worth increased by 116.1% during the latest trading period.

A 54.4% growth in Total Assets occurred during the latest trading period.

The company saw a decrease in their Cash Balance of 31.9% 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 2 years ago.

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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

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Total Current Directors	2
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	1

Current Directors

Name	JOAN DONNELLY	Date of Birth	05/12/1947
Officers Title		Nationality
Present Appointments	1	Function	Director
Appointment Date	01/08/2011
Address	6 MERRION VILLAGE, MERRION ROAD, DUBLIN 4
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	BEATRIZ GARCIA	Date of Birth	02/05/1977
Officers Title		Nationality
Present Appointments	1	Function	Director
Appointment Date	04/05/2011
Address	77 A FOXES GROVE, SHANKILL, DUBLIN
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	DARAGH DONNELLY	Date of Birth	25/01/1974
Officers Title		Nationality
Present Appointments	4	Function	Company Secretary
Appointment Date	04/05/2011
Address	77 A FOXES GROVE, SHANKILL, DUBLIN
Other Actions
Disqualified		Disqualified End Date
Disqualification Exception	No

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value
JOAN DONNELLY	EUR	67	ORDINARY	0.1
BEATRIZ GARCIA	EUR	33	ORDINARY	0.1

Profit & Loss

	Date Of Accounts	30/09/13	(%)	30/09/12	(%)	-	(%)	-	(%)	-
	Weeks	52	(%)	74	(%)	-	(%)	-	(%)	-
	Currency	EUR	(%)	EUR	(%)	-	(%)	-	(%)	-
	Consolidated A/cs	N	(%)	N	(%)	-	(%)	-	(%)	-
	Turnover	-	-	-	-	-	-	-	-	-
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	-	-	-	-	-	-	-	-	-
	Gross Profit	-	-	-	-	-	-	-	-	-
	Wages & Salaries	-	-	-	-	-	-	-	-	-
	Directors Emoluments	-	-	-	-	-	-	-	-	-
	Operating Profit	-	-	-	-	-	-	-	-	-
	Depreciation	-	-	-	-	-	-	-	-	-
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	30/09/13	(%)	30/09/12	(%)	-	(%)	-	(%)	-
	Tangible Assets	0	-	0	-	-	-	-	-	-
	Intangible Assets	0	-	0	-	-	-	-	-	-
	Total Fixed Assets	0	-	0	-	-	-	-	-	-
	Stock	0	-	0	-	-	-	-	-	-
	Trade Debtors	€97,824	167.9%	€36,509	-	-	-	-	-	-
	Cash	€32,727	-31.9%	€48,058	-	-	-	-	-	-
	Other Debtors	0	-	0	-	-	-	-	-	-
	Miscellaneous Current Assets	0	-	0	-	-	-	-	-	-
	Total Current Assets	€130,551	54.4%	€84,567	-	-	-	-	-	-
	Trade Creditors	€83,453	999.9%	€5,607	-	-	-	-	-	-
	Bank Loans & Overdrafts	0	-100%	€5	-	-	-	-	-	-
	Other Short Term Finance	0	-100%	€43,712	-	-	-	-	-	-
	Miscellaneous Current Liabilities	0	-100%	€13,448	-	-	-	-	-	-
	Total Current Liabilities	€83,453	32.9%	€62,772	-	-	-	-	-	-
	Bank Loans & Overdrafts and LTL	0	-100%	€5	-	-	-	-	-	-
	Other Long Term Finance	0	-	0	-	0	-	-	-	-
	Total Long Term Liabilities	0	-	0	-	-	-	-	-	-

.

Capital & Reserves

	Date Of Accounts	30/09/13	(%)	30/09/12	(%)	-	(%)	-	(%)	-
	Called Up Share Capital	€10	-	€10	-	-	-	-	-	-
	P & L Account Reserve	€47,088	116.1%	€21,785	-	-	-	-	-	-
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	€47,098	116.1%	€21,795	-	-	-	-	-	-

Other Financial Items

	Date Of Accounts	30/09/13	(%)	30/09/12	(%)	-	(%)	-	(%)	-
	Net Worth	€47,098	116.1%	€21,795	-	-	-	-	-	-
	Working Capital	€47,098	116.1%	€21,795	-	-	-	-	-	-
	Total Assets	€130,551	54.4%	€84,567	-	-	-	-	-	-
	Total Liabilities	€83,453	32.9%	€62,772	-	-	-	-	-	-
	Net Assets	€47,098	116.1%	€21,795	-	-	-	-	-	-

Cash Flow

	Date Of Accounts	30/09/13	(%)	30/09/12	(%)	-	(%)	-	(%)	-
	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	30/09/13	(%)	30/09/12	(%)	-	(%)	-	(%)	-
	Contingent Liability	NO	-	NO	-	-	-	-	-	-
	Capital Employed	€47,098	116.1%	€21,795	-	-	-	-	-	-
	Number of Employees	-	-	-	-	-	-	-	-	-
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers	BANK OF IRELAND
	Bank Branch Code	90-01-21

Ratios

	Date Of Accounts	30/09/13	30/09/12	-	-	-
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	1.56	1.35	-	-	-
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	0	0	-	-	-
	Equity in %	36.10	25.80	-	-	-
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	1.56	1.34	-	-	-
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	1.77	2.88	-	-	-
	Total Debt Ratio	1.77	2.88	-	-	-
	Stock Turnover Ratio %	-	-	-	-	-
	Return on Net Assets Employed %	-	-	-	-	-

Summary Directors/Shareholders Financials Event History Group Structure

Status History Event History Rating History Limit History Previous Company Names

Status History

No Status History found

Event History

Date	Description
26/03/2014	New Accounts Filed
25/03/2014	Annual Returns
20/12/2013	Annual Returns
12/01/2013	New Accounts Filed
11/01/2013	Annual Returns
23/11/2011	Annual Returns
01/08/2011	DARAGH DONNELLY has left the board
01/08/2011	New Board Member (JOAN DONNELLY) appointed
04/05/2011	New Company Secretary (DARAGH DONNELLY) appointed
04/05/2011	New Board Member (DARAGH DONNELLY) appointed
04/05/2011	New Board Member (BEATRIZ GARCIA) appointed

Previous Company Names

No Previous Names found

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group structure

No group structure

Statistics

Group	0 companies
Linkages	0 companies
Countries	In 0 countries

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

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

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
DARAGH DONNELLY	4	1

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.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.14
UK Pound	1	Rs.99.02
Euro	1	Rs.80.63

INFORMATION DETAILS

Analysis Done by :	SUM
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%)

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.