MIRA
INFORM REPORT
|
Report Date : |
13.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
MONTEFIORE TRADING LIMITED |
|
|
|
|
Registered Office : |
7th Floor Hume House Ballsbridge 216410 |
|
|
|
|
Country : |
Ireland |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
03.09.1991 |
|
|
|
|
Com. Reg. No.: |
IE178302 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
Commission agent in the field of synthetic films and chips |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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 |
REGISTERED NAME & COMPANY SUMMARY
|
Company Name |
MONTEFIORE TRADING LIMITED |
Company Number |
IE178302 |
|
Registered Address |
7TH FLOOR |
|
|
|
Website Address |
- |
|
|
|
Telephone Number |
|
|
|
|
TPS |
No |
|
|
|
Incorporation Date |
03/09/1991 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
|
Type |
Private limited with Share Capital |
|
Date of Change |
- |
Filing Date of Accounts |
- |
DIRECTORS/MANAGEMENT
|
Total Current Directors |
3 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
25 |
Current Directors
|
Name |
Date of Birth |
12/05/1966 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
39 |
Function |
Director |
|
Appointment Date |
17/04/2001 |
|
|
|
Address |
SETANTA, GAULTRIMSLAND, RIVERSTOWN, DUNDALK |
||
|
Name |
Date of Birth |
07/02/1961 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
08/04/2010 |
|
|
|
Address |
VIA SOTTOCHIESA 11, CH-6808, TORICELLA, SWITZERLAND |
||
|
Name |
Date of Birth |
15/08/1961 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
19/04/1993 |
|
|
|
Address |
MANNESTRASSE 26, TEL AVIV, ISRAEL |
||
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
There are no Writ details
Mortgage Summary
|
Outstanding |
0 |
|
Satisfied |
0 |
SHARE & SHARE CAPITAL INFORMATION
|
Share Capital |
€11,000 |
Top 20 Shareholders
|
Name |
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
MARYSVILLE HOLDINGS LTD |
GBP |
6,000 |
ORDINARY |
1 |
54.55 |
|
BLADEX FINANCE LTD |
GBP |
2,500 |
ORDINARY |
1 |
22.73 |
|
OLINDA INVESTMENTS INC. |
GBP |
2,500 |
ORDINARY |
1 |
22.73 |
PAYMENT INFORMATION
Payment Information Summary
|
Days Beyond Terms |
Trend Indicator |
|
||||
|
Steady Improving Worsening |
|
GROUP STRUCTURE & AFFILIATED COMPANIES
Statistics
|
Group |
- |
|
Linkages |
|
|
Countries |
Group structure
|
FINANCIAL INFORMATION
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder Funds |
Employees |
|
31/12/2012 |
€1,055 |
-€10,830 |
-€5,248 |
- |
|
31/12/2011 |
- |
- |
- |
- |
|
31/12/2010 |
- |
- |
- |
- |
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 |
€1,055 |
|
- |
|
- |
|
- |
|
- |
|
|
Export |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Cost of Sales |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Gross Profit |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Wages & Salaries |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Directors Emoluments |
€3,719 |
|
- |
|
- |
|
- |
|
- |
|
|
Operating Profit |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Depreciation |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Audit Fees |
€7,000 |
|
- |
|
- |
|
- |
|
- |
|
|
Interest Payments |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Pre Tax Profit |
-€10,830 |
|
- |
|
- |
|
- |
|
- |
|
|
Taxation |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Profit After Tax |
-€10,830 |
|
- |
|
- |
|
- |
|
- |
|
|
Dividends Payable |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Retained Profit |
-€10,830 |
|
- |
|
- |
|
- |
|
- |
Balance Sheet
|
|
Date Of Accounts |
31/12/12 |
|
31/12/11 |
|
31/12/10 |
|
31/12/09 |
|
31/12/08 |
|
|
Tangible Assets |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Intangible Assets |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Total Fixed Assets |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Stock |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Trade Debtors |
€26,093 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Cash |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Other Debtors |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Miscellaneous Current Assets |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Total Current Assets |
€26,093 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Trade Creditors |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Bank Loans & Overdrafts |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Other Short Term Finance |
€18,846 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Miscellaneous Current Liabilities |
€12,495 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Total Current Liabilities |
€31,341 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
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 |
€17,165 |
|
- |
|
- |
|
- |
|
- |
|
|
P & L Account Reserve |
-€22,413 |
|
- |
|
- |
|
- |
|
- |
|
|
Revaluation Reserve |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Sundry Reserves |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Shareholder Funds |
-€5,248 |
|
- |
|
- |
|
- |
|
- |
Other Financial Items
|
|
Date Of Accounts |
31/12/12 |
|
31/12/11 |
|
31/12/10 |
|
31/12/09 |
|
31/12/08 |
|
|
Net Worth |
-€5,248 |
|
- |
|
- |
|
- |
|
- |
|
|
Working Capital |
-€5,248 |
|
- |
|
- |
|
- |
|
- |
|
|
Total Assets |
€26,093 |
|
- |
|
- |
|
- |
|
- |
|
|
Total Liabilities |
€31,341 |
|
- |
|
- |
|
- |
|
- |
|
|
Net Assets |
-€5,248 |
|
- |
|
- |
|
- |
|
- |
Cash Flow
|
|
Date Of Accounts |
31/12/12 |
|
31/12/11 |
|
31/12/10 |
|
31/12/09 |
|
31/12/08 |
|
|
Net Cashflow from Operations |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Net Cashflow before Financing |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Net Cashflow from Financing |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Increase in Cash |
- |
|
- |
|
- |
|
- |
|
- |
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 |
-€5,248 |
|
- |
|
- |
|
- |
|
- |
Ratios
|
|
Date Of Accounts |
31/12/12 |
31/12/11 |
31/12/10 |
31/12/09 |
31/12/08 |
|
|
Pre-tax profit margin % |
-1026.54 |
- |
- |
- |
- |
|
|
Current ratio |
0.83 |
- |
- |
- |
- |
|
|
Sales/Net Working Capital |
-0.20 |
- |
- |
- |
- |
|
|
Gearing % |
0 |
0 |
0 |
0 |
0 |
|
|
Equity in % |
-20.10 |
- |
- |
- |
- |
|
|
Creditor Days |
- |
- |
- |
- |
- |
|
|
Debtor Days |
9002.70 |
- |
- |
- |
- |
|
|
Liquidity/Acid Test |
0.83 |
- |
- |
- |
- |
|
|
Return On Capital Employed % |
206.36 |
- |
- |
- |
- |
|
|
Return On Total Assets Employed % |
-41.50 |
- |
- |
- |
- |
|
|
Current Debt Ratio |
-5.97 |
- |
- |
- |
- |
|
|
Total Debt Ratio |
-5.97 |
- |
- |
- |
- |
|
|
Stock Turnover Ratio % |
- |
- |
- |
- |
- |
|
|
Return on Net Assets Employed % |
206.36 |
- |
- |
- |
|
FOREIGN EXCHANGE RATES
N/a
ADDITIONAL INFORMATION
|
SIC03 |
51180 |
|
SIC03 Description |
Agents specialising in the sale of particular products or ranges of
products not elsewhere classified |
|
SIC07 |
46180 |
|
SIC07 Description |
AGENTS SPECIALIZED IN THE SALE OF OTHER PARTICULAR PRODUCTS |
|
Principal Activity |
Commission agent in the field of synthetic films and chips. |
Current Company Secretary
|
Name |
Date of Birth |
05/12/1990 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
980 |
Function |
Company Secretary |
|
Appointment Date |
01/06/2001 |
|
|
|
Address |
|
|
|
|
|
Number of Employees |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Auditors |
RAJ NAIR |
||||||||
|
|
Auditor Comments |
The audit report contains no adverse comments |
||||||||
|
|
Bankers |
|
||||||||
|
|
Bank Branch Code |
|
||||||||
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
11/07/2013 |
New Accounts Filed |
|
02/07/2013 |
Annual Returns |
|
05/07/2012 |
New Accounts Filed |
|
12/06/2012 |
Annual Returns |
|
25/10/2011 |
New Accounts Filed |
|
18/10/2011 |
Annual Returns |
|
19/01/2011 |
Annual Returns |
|
01/11/2010 |
New Accounts Filed |
|
26/10/2010 |
Annual Returns |
|
08/04/2010 |
FREDDY JEAN-CLAUDE BERNARDEAU has left the board |
|
08/04/2010 |
New Board Member (MARCEL WIDMER) appointed |
|
09/09/2009 |
New Accounts Filed |
|
03/09/2009 |
Annual Returns |
|
17/12/2008 |
New Accounts Filed |
|
11/12/2008 |
New Accounts Filed |
Previous Company Names
|
No Previous Names found |
NOTES & COMMENTS
Commentary
|
No exact match CCJs are recorded against the company. |
|
|
There has been no significant change in the company's credit limit. |
|
|
There is insufficient data to indicate a change in this company's
percentage of sales. |
|
|
There is insufficient data to indicate a change in this company's
pre-tax profit. |
|
|
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 22 years ago. |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.09 |
|
|
1 |
Rs.101.59 |
|
Euro |
1 |
Rs.84.65 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.