MIRA INFORM REPORT

Report Date :

10.03.2014

IDENTIFICATION DETAILS

Name :	EAMONN GLENNON LIMITED
Registered Office :	Townparks Industrial Estate Longford 448423
Country :	Ireland
Financials (as on) :	31.03.2013
Date of Incorporation :	15.11.1977
Com. Reg. No.:	IE060606
Legal Form :	Private limited with Share Capital
Line of Business :	Not Available [We tried to confirm / obtain the detailed activity but the same is not available from any sources]
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 – 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. 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	EAMONN GLENNON LIMITED	Company Number	IE060606
Registered Address	TOWNPARKS INDUSTRIAL ESTATE LONGFORD 448423
Website Address	-
Telephone Number
TPS	No
Incorporation Date	15/11/1977	Company Status	Active - Accounts Filed
Previous Name		Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	-
		Share Capital	€105,388
SIC03		Currency	EUR

Accounts Due Date -

Commentary

No exact match CCJs are recorded against the company.
There has been no significant change in the company's credit rating.
The credit limit on this company has risen 100% in comparison to the previously suggested credit limit.
There is insufficient data to indicate a change in this company's percentage of sales.
Net Worth increased by 5.1% during the latest trading period.
A 3.7% 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 62.8% 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 36 years ago.

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/03/2013	-	-	€523,062	-
31/03/2012	-	-	€510,041	-
31/03/2011	-	-	€485,230	-

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Payment Information Summary

Days Beyond Terms

Trend Indicator

N/A	29
Company DBT	UK Average DBT

Steady

Improving Worsening

Exact CJ Details

There are no exact CJ details

Possible CJ Details

There are no possible CJ details

Writ Details

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Total Current Directors	3
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	0

Current Directors

Name	EAMON GLENNON	Date of Birth	22/04/1940
Officers Title		Nationality
Present Appointments	1	Function	Director
Appointment Date	21/11/1977
Address	TEMPLEMICHAEL GLEBE, LONGFORD
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	BREDA GLENNON	Date of Birth	06/10/1939
Officers Title		Nationality
Present Appointments	1	Function	Director
Appointment Date	21/11/1977
Address	TEMPLEMICHAEL GLEBE, LONGFORD
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	MARTIN GLENNON	Date of Birth	10/08/1972
Officers Title		Nationality
Present Appointments	2	Function	Director
Appointment Date	30/12/1992
Address	TEMPLEMICHAEL, GLEBE, LONGFORD
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	MARTIN GLENNON	Date of Birth	10/08/1972
Officers Title		Nationality
Present Appointments	2	Function	Company Secretary
Appointment Date	30/12/1992
Address	TEMPLEMICHAEL, GLEBE, LONGFORD
Other Actions
Disqualified		Disqualified End Date
Disqualification Exception	No

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value
MARTIN GLENNON	EUR	82,999	ORDINARY	1.27
NIALL GLENNON	EUR	1	ORDINARY	1.27

Profit & Loss

	Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
	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	-	-	-	-	€32,056	-0.2%	€32,124	-6.9%	€34,500
	Audit Fees	-	-	-	-	-	-	-	-	-
	Interest Payments	-	-	-	-	-	-	-	-	-
	Pre Tax Profit	-	-	-	-	-	-	-	-	-
	Taxation	-	-	-	-	-	-	-	-	-
	Profit After Tax	-	-	-	-	-	-	-	-	-
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	-	-	-	-	-	-	-	-	-

Balance Sheet

	Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
	Tangible Assets	€496,028	-1.2%	€502,155	8%	€464,811	-2.9%	€478,877	-4.9%	€503,718
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	€496,028	-1.2%	€502,155	8%	€464,811	-2.9%	€478,877	-4.9%	€503,718
	Stock	€170,217	-2.9%	€175,217	-3%	€180,636	2.4%	€176,457	25%	€141,169
	Trade Debtors	€263,063	27.1%	€206,988	8.5%	€190,728	0.1%	€190,543	-12.2%	€216,968
	Cash	€5,496	32.4%	€4,152	-62.8%	€11,173	316%	€2,686	24.7%	€2,154
	Other Debtors	0	-	0	-100%	€9,794	23.7%	€7,920	-66.4%	€23,564
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	€438,776	13.6%	€386,357	-1.5%	€392,331	3.9%	€377,606	-1.6%	€383,855
	Trade Creditors	€203,261	9.8%	€185,144	25.2%	€147,871	-7.4%	€159,764	-8.5%	€174,602
	Bank Loans & Overdrafts	€44,411	90.8%	€23,278	-41.6%	€39,827	98.3%	€20,086	-49.5%	€39,785
	Other Short Term Finance	€7,679	-15.6%	€9,094	-78.9%	€43,193	-29%	€60,869	10.5%	€55,075
	Miscellaneous Current Liabilities	€35,923	48.2%	€24,241	-12.3%	€27,638	-9.9%	€30,685	-46.2%	€57,061
	Total Current Liabilities	€291,274	20.5%	€241,757	-6.5%	€258,529	-4.7%	€271,404	-16.9%	€326,523
	Bank Loans & Overdrafts and LTL	€164,879	3.1%	€159,992	4.4%	€153,210	0.3%	€152,689	-22.8%	€197,852
	Other Long Term Finance	€25,043	-23.5%	€32,722	999.9%	€1,815	-86.5%	€13,416	-49.4%	€26,506
	Total Long Term Liabilities	€120,468	-11.9%	€136,714	20.6%	€113,383	-14.5%	€132,603	-16.1%	€158,067

Capital & Reserves

	Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
	Called Up Share Capital	€94,839	-	€94,839	-	€94,839	-	€94,839	-	€94,839
	P & L Account Reserve	€71,244	22.4%	€58,223	74.3%	€33,412	999.9%	€658	101.3%	-€48,835
	Revaluation Reserve	€356,979	-	€356,979	-	€356,979	-	€356,979	-	€356,979
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	€523,062	2.6%	€510,041	5.1%	€485,230	7.2%	€452,476	12.3%	€402,983

Other Financial Items

	Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
	Net Worth	€523,062	2.6%	€510,041	5.1%	€485,230	7.2%	€452,476	12.3%	€402,983
	Working Capital	€147,502	2%	€144,600	8.1%	€133,802	26%	€106,202	85.2%	€57,332
	Total Assets	€934,804	5.2%	€888,512	3.7%	€857,142	0.1%	€856,483	-3.5%	€887,573
	Total Liabilities	€411,742	8.8%	€378,471	1.8%	€371,912	-7.9%	€404,007	-16.6%	€484,590
	Net Assets	€523,062	2.6%	€510,041	5.1%	€485,230	7.2%	€452,476	12.3%	€402,983

Miscellaneous

	Date Of Accounts	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10	(%)	31/03/09
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	€643,530	-0.5%	€646,755	8%	€598,613	2.3%	€585,079	4.3%	€561,050
	Number of Employees	-	-	-	-	-	-	-	-	-
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers	ALLIED IRISH BANK
	Bank Branch Code	93-21-40

Ratios

	Date Of Accounts	31/03/13	31/03/12	31/03/11	31/03/10	31/03/09
	Pre-tax profit margin %	-	-	-	-	-
	Current ratio	1.51	1.60	1.52	1.39	1.18
	Sales/Net Working Capital	-	-	-	-	-
	Gearing %	31.50	31.40	31.60	33.70	49.10
	Equity in %	56	57.40	56.60	52.80	45.40
	Creditor Days	-	-	-	-	-
	Debtor Days	-	-	-	-	-
	Liquidity/Acid Test	0.92	0.87	0.81	0.74	0.74
	Return On Capital Employed %	-	-	-	-	-
	Return On Total Assets Employed %	-	-	-	-	-
	Current Debt Ratio	0.55	0.47	0.53	0.59	0.81
	Total Debt Ratio	0.78	0.74	0.76	0.89	1.20
	Stock Turnover Ratio %	-	-	-	-	-
	Return on Net Assets Employed %	-	-	-	-	-

Status History

No Status History found

*Event History

Date	Description
21/02/2014	New Accounts Filed
20/02/2014	Annual Returns
25/02/2013	Annual Returns
25/02/2013	New Accounts Filed
25/02/2013	New Accounts Filed
21/02/2012	Annual Returns
21/02/2012	New Accounts Filed
21/02/2012	New Accounts Filed
23/02/2011	Annual Returns
22/02/2011	New Accounts Filed
24/02/2010	Annual Returns
23/02/2010	New Accounts Filed
17/02/2009	New Accounts Filed
15/02/2009	Annual Returns
27/02/2008	Annual Returns

Previous Company Names

No Previous Names found

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Group structure

No group structure

Business Owner Links

	Business Name	Business No	Business Status.
	EAMONN GLENNON LIMITED	IE060606
	GLENNON MONUMENTALS	348202	NORMAL

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

Mortgage Details

Mortgage Type:	A charge on land, wherever situate, or any interest therein, but not including a charge for any rent
Date Charge Created:	17/04/08
Date Charge Registered:	22/04/08
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	ALLIED IRISH BANKS PLC
Amount Secured:
Details:

Mortgage Type:	AN EQUITABLE MORTGAGE BY DEPOSIT OF TITLE DEE.
Date Charge Created:	19/05/81
Date Charge Registered:	08/06/81
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	ALLIED IRISH BANKS PLC
Amount Secured:
Details:	ALL SUMS NOW DUE OR HEREAFTER TO BECOME DUE FROM THE COMPANY TO THE PERSON(S) ENTITLED

Creditor Details

No Creditor Data
Total Value	-

Trade Debtors / Bad Debt Detail

No Debtor Data
Total Value	-

Previous Director/Company Secretaries

Average Invoice Value	€100.03
Invoices available	1
Paid	1
Outstanding	0

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	1	0	0	0	0
Outstanding	0	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.99
UK Pound	1	Rs.102.07
Euro	1	Rs.84.53

INFORMATION DETAILS

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.