MIRA
INFORM REPORT
|
Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
GRANITEX LIMITED |
|
|
|
|
Registered Office : |
Kettles Lane, Cloghran, Swords, 999931 |
|
|
|
|
Country : |
Ireland |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
07.05.2004 |
|
|
|
|
Com. Reg. No.: |
IE385726 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Agents involved in the sale of fuels, ores,
metals and industrial chemicals |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 sales 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
Summary – Company
Information
|
Company
Name |
GRANITEX LIMITED |
Company
Number |
IE385726 |
|
Registered
Address |
KETTLES
LANE |
|
|
|
Website
Address |
- |
|
|
|
Telephone
Number |
045842774 |
|
|
|
TPS |
No |
|
|
|
Incorporation
Date |
07/05/2004 |
Company
Status |
Active - Accounts Filed |
|
Previous
Name |
|
Type |
Private limited with Share Capital |
|
Date
of Change |
- |
Filing
Date of Accounts |
- |
|
|
|
Share
Capital |
€100 |
|
SIC03 |
5112 |
Currency
|
EUR |
|
SIC03
Description |
AGENTS INVOLVED IN THE SALE OF FUELS, ORES,
METALS AND INDUSTRIAL CHEMICALS |
||
|
SIC07 |
46120 |
||
|
SIC07
Description |
AGENTS INVOLVED IN THE SALE OF FUELS, ORES,
METALS AND INDUSTRIAL CHEMICALS |
||
DIRECTORS/MANAGEMENT
Directors
|
Total Current Directors |
2 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company
Secretaries |
1 |
Current Directors
|
Name |
Date of Birth |
05/11/1968 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
07/05/2004 |
|
|
|
Address |
11 GARTAN DRIVE, ESTUARY ROAD, SWORDS, CO
DUBLIN |
||
|
|
|
|
|
|
Name |
Date of Birth |
15/07/1966 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
11 |
Function |
Director |
|
Appointment Date |
07/05/2004 |
|
|
|
Address |
33 DUN CUILINN, BALLYSAX, THE CURRAGH, CO.
KILDARE |
||
|
|
|
|
|
Current Company
Secretary
|
Name |
Date of Birth |
05/11/1968 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
2 |
Function |
Company Secretary |
|
Appointment Date |
07/05/2004 |
|
|
|
Address |
11 GARTAN DRIVE, ESTUARY ROAD, SWORDS, CO
DUBLIN |
||
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
Writ Details
Mortgage Summary
|
Outstanding |
1 |
|
Satisfied |
0 |
SHARE & SHARE CAPITAL INFORMATION
Top 20
Shareholders
|
Name |
Currency |
Share
Count |
Share
Type |
Nominal
Value |
% of
Total Share Count |
|
GARRY O'FLAHERTY |
EUR |
50 |
ORDINARY |
1 |
50 |
|
PATRICK SUTTON |
EUR |
50 |
ORDINARY |
1 |
50 |
PAYMENT INFORMATION
Key Financials
|
Year
to Date |
Turnover |
Pre
Tax Profit |
Shareholder
Funds |
Employees |
|
31/12/2012 |
- |
- |
€717,113 |
- |
|
31/12/2011 |
- |
- |
€657,482 |
- |
|
31/12/2010 |
- |
- |
€765,604 |
- |
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
Statistics
|
Group |
- |
|
Linkages
|
|
|
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 |
- |
|
- |
|
- |
|
- |
|
- |
|
Wages & Salaries |
- |
|
- |
|
- |
|
- |
|
- |
|
Directors Emoluments |
- |
|
- |
|
- |
|
- |
|
- |
|
Operating Profit |
- |
|
- |
|
- |
|
- |
|
- |
|
Depreciation |
- |
|
€36,063 |
|
€44,601 |
|
€44,901 |
|
€45,234 |
|
Audit Fees |
- |
|
- |
|
- |
|
- |
|
- |
|
Interest Payments |
- |
|
- |
|
- |
|
- |
|
- |
|
Pre Tax Profit |
- |
|
- |
|
- |
|
- |
|
- |
|
Taxation |
- |
|
- |
|
- |
|
- |
|
- |
|
Profit After Tax |
- |
|
- |
|
- |
|
- |
|
- |
|
Dividends Payable |
- |
|
- |
|
- |
|
- |
|
- |
|
Retained Profit |
- |
|
- |
|
- |
|
- |
|
- |
Balance Sheet
|
Date Of Accounts |
31/12/12 |
|
31/12/11 |
|
31/12/10 |
|
31/12/09 |
|
31/12/08 |
|
Tangible Assets |
€4,268 |
|
€5,771 |
|
€41,119 |
|
€84,810 |
|
€127,976 |
|
Intangible Assets |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
Total Fixed Assets |
€4,268 |
|
€5,771 |
|
€41,119 |
|
€84,810 |
|
€127,976 |
|
Stock |
€247,388 |
|
€285,834 |
|
€269,808 |
|
€276,935 |
|
€285,403 |
|
Trade Debtors |
€426,406 |
|
€429,363 |
|
€492,919 |
|
€473,610 |
|
€489,916 |
|
Cash |
€276,181 |
|
€289,525 |
|
€335,762 |
|
€353,702 |
|
€208,940 |
|
Other Debtors |
0 |
|
€15,057 |
|
0 |
|
0 |
|
0 |
|
Miscellaneous Current Assets |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
Total Current Assets |
€949,975 |
|
€1,019,779 |
|
€1,098,489 |
|
€1,104,247 |
|
€984,259 |
|
Trade Creditors |
€216,196 |
|
€353,319 |
|
€351,751 |
|
€368,765 |
|
€315,462 |
|
Bank Loans & Overdrafts |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
Other Short Term Finance |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
Miscellaneous Current Liabilities |
€20,934 |
|
€14,749 |
|
€22,253 |
|
€33,781 |
|
€46,288 |
|
Total Current Liabilities |
€237,130 |
|
€368,068 |
|
€374,004 |
|
€402,546 |
|
€361,750 |
|
Bank Loans & Overdrafts and LTL |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
Other Long Term Finance |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
Total Long Term Liabilities |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
Capital &
Reserves
|
Date Of Accounts |
31/12/12 |
|
31/12/11 |
|
31/12/10 |
|
31/12/09 |
|
31/12/08 |
|
Called Up Share Capital |
€100 |
|
€100 |
|
€100 |
|
€100 |
|
€100 |
|
P & L Account Reserve |
€717,013 |
|
€657,382 |
|
€765,504 |
|
€786,411 |
|
€750,385 |
|
Revaluation Reserve |
- |
|
- |
|
- |
|
- |
|
- |
|
Sundry Reserves |
- |
|
- |
|
- |
|
- |
|
- |
|
Shareholder Funds |
€717,113 |
|
€657,482 |
|
€765,604 |
|
€786,511 |
|
€750,485 |
Other Financial
Items
|
Date Of Accounts |
31/12/12 |
|
31/12/11 |
|
31/12/10 |
|
31/12/09 |
|
31/12/08 |
|
Net Worth |
€717,113 |
|
€657,482 |
|
€765,604 |
|
€786,511 |
|
€750,485 |
|
Working Capital |
€712,845 |
|
€651,711 |
|
€724,485 |
|
€701,701 |
|
€622,509 |
|
Total Assets |
€954,243 |
|
€1,025,550 |
|
€1,139,608 |
|
€1,189,057 |
|
€1,112,235 |
|
Total Liabilities |
€237,130 |
|
€368,068 |
|
€374,004 |
|
€402,546 |
|
€361,750 |
|
Net Assets |
€717,113 |
|
€657,482 |
|
€765,604 |
|
€786,511 |
|
€750,485 |
Miscellaneous
|
Date Of Accounts |
31/12/12 |
|
31/12/11 |
|
31/12/10 |
|
31/12/09 |
|
31/12/08 |
|
Contingent Liability |
YES |
|
YES |
|
NO |
|
NO |
|
NO |
|
Capital Employed |
€717,113 |
|
€657,482 |
|
€765,604 |
|
€786,511 |
|
€750,485 |
|
Number of Employees |
- |
|
- |
|
- |
|
- |
|
- |
|
Auditors |
|
||||||||
|
Auditor Comments |
The company is exempt from audit |
||||||||
|
Bankers |
ALLIED IRISH BANKS PLC |
||||||||
|
Bank Branch Code |
93-32-36 |
||||||||
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 |
4.01 |
2.77 |
2.94 |
2.74 |
2.72 |
|
Sales/Net Working Capital |
- |
- |
- |
- |
- |
|
Gearing % |
0 |
0 |
0 |
0 |
0 |
|
Equity in % |
75.10 |
64.10 |
67.20 |
66.10 |
67.50 |
|
Creditor Days |
- |
- |
- |
- |
- |
|
Debtor Days |
- |
- |
- |
- |
- |
|
Liquidity/Acid Test |
2.96 |
1.99 |
2.21 |
2.05 |
1.93 |
|
Return On Capital Employed % |
- |
- |
- |
- |
- |
|
Return On Total Assets Employed % |
- |
- |
- |
- |
- |
|
Current Debt Ratio |
0.33 |
0.55 |
0.48 |
0.51 |
0.48 |
|
Total Debt Ratio |
0.33 |
0.55 |
0.48 |
0.51 |
0.48 |
|
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 9.1% during the
latest trading period. |
|
|
A 7% decline 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 4.6% 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 9 years
ago. |
|
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
26/06/2013 |
New Accounts Filed |
|
26/06/2013 |
New Accounts Filed |
|
25/06/2013 |
Annual Returns |
|
25/04/2012 |
New Accounts Filed |
|
24/04/2012 |
Annual Returns |
|
20/04/2011 |
Annual Returns |
|
20/04/2011 |
New Accounts Filed |
|
21/07/2010 |
Annual Returns |
|
20/07/2010 |
New Accounts Filed |
|
06/07/2009 |
Annual Returns |
|
06/07/2009 |
New Accounts Filed |
|
09/06/2008 |
Annual Returns |
|
06/06/2008 |
New Accounts Filed |
|
07/05/2004 |
POREMA LIMITED has resigned as company
secretary |
|
07/05/2004 |
New Company Secretary (POREMA LIMITED)
appointed |
Previous Company
Names
|
No Previous Names found |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.86 |
|
UK Pound |
1 |
Rs.103.52 |
|
Euro |
1 |
Rs.85.31 |
INFORMATION DETAILS
|
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.