MIRA INFORM REPORT

 

 

Report Date :

28.03.2014

 

IDENTIFICATION DETAILS

 

Name :

D S SUPPLIES LIMITED 

 

 

Registered Office :

Unit M 2C Greenogue Business Park, Rathcoole, Co. Dublin 564010

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

18.11.1998

 

 

Com. Reg. No.:

IE296529

 

 

Legal Form :

Private Company

 

 

Line of Business :

Not Available 

 

 

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 :

Slow but Correct  

 

 

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 Saless 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

 

Company Name

D S SUPPLIES LIMITED

Company Number

IE296529

Registered Address

Unit M 2C Greenogue Business Park, Rathcoole, Co. Dublin 564010

 

 

TPS

No

 

 

Incorporation Date

18/11/1998

Company Status

Active - Accounts Filed

Previous Name

 

Type

Private Company

Date of Change

-

Filing Date of Accounts

-

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

3

 

Current Directors

Name

DEREK DOYLE

Date of Birth

15/10/1969

Officers Title

 

Nationality

 

Present Appointments

8

Function

Director

Appointment Date

20/11/1998

 

 

Address

16 SANDYFORD HALL WALK, SANDYFORD, DUBLIN 18

Other Actions

View Director Report

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

STEPHEN DOYLE

Date of Birth

10/03/1975

Officers Title

 

Nationality

 

Present Appointments

4

Function

Director

Appointment Date

20/11/1998

 

 

Address

2 FERNCOURT CLOSE, OLDCOURT ROAD, FIRHOUSE, DUBLIN 24

 

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

 

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

1

Satisfied

3

 

SHARE & SHARE CAPITAL INFORMATION

 

Share Capital

€127

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

DS ARK HOLDINGS LTD

EUR

100

ORDINARY

1.27

 

Unable to report percentage holdings as filed Shareholder listing is not full.

 

PAYMENT INFORMATION

 

Payment Information Summary

Days Beyond Terms

Trend Indicator

                         Average Payment Experience 

 

 

33

29

Company DBT

UK Average DBT

Steady

   

Improving Worsening

Be the first to leave a payment experience
for this company
Within Terms 91+ Days

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

2 companies

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

DS ARK HOLDINGS LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

DS ARK HOLDINGS LIMITED

 

Group structure

Company Name

 

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

DS ARK HOLDINGS LIMITED

 

IE439672

31.12.2012

N

 

D S SUPPLIES LIMITED

 

IE296529

31.12.2012

N

 

 

FINANCIAL INFORMATION

 

Key Financials

Year to Date

Turnover

Pre Tax Profit

Shareholder Funds

Employees

31/12/2012

-

-

€89,259

-

31/12/2011

-

-

€121,113

-

31/12/2010

-

-

€108,487

-

 

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

-

-

-

-

-

-

-

-

€43,923

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

€88,992

7.9%

€82,479

-25.6%

€110,842

10.6%

€100,186

-18.2%

€122,514

Intangible Assets

€7,388

-

€7,388

-

€7,388

-

€7,388

-

€7,388

Total Fixed Assets

€96,380

7.2%

€89,867

-24%

€118,230

9.9%

€107,574

-17.2%

€129,902

Stock

€485,493

17.1%

€414,429

1.8%

€407,097

9.9%

€370,320

-17.6%

€449,505

Trade Debtors

€525,902

1.5%

€517,900

-6.6%

€554,498

-11.1%

€623,968

-3.8%

€648,437

Cash

0

-

0

-

0

-

0

-

0

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

€1,011,395

8.5%

€932,329

-3%

€961,595

-3.3%

€994,288

-9.4%

€1,097,942

Trade Creditors

€223,697

281.9%

€58,569

-24.5%

€77,618

-20.7%

€97,923

-10.9%

€109,859

Bank Loans & Overdrafts

€583,052

-11.9%

€661,861

-3.7%

€687,528

6.4%

€645,888

-18.3%

€790,658

Other Short Term Finance

€19,464

-18.6%

€23,901

-19.5%

€29,681

0.5%

€29,530

-20.8%

€37,281

Miscellaneous Current Liabilities

€100,361

-4.8%

€105,412

38.7%

€75,976

65.7%

€45,838

46.5%

€31,297

Total Current Liabilities

€926,574

9%

€849,743

-2.4%

€870,803

6.3%

€819,179

-15.5%

€969,095

Bank Loans & Overdrafts and LTL

€674,994

-5.4%

€713,201

-9.5%

€788,063

1.3%

€778,113

-8.4%

€849,517

Other Long Term Finance

€27,982

184.2%

€9,846

-70.8%

€33,746

-17.4%

€40,848

-30.6%

€58,859

Total Long Term Liabilities

€91,942

79.1%

€51,340

-48.9%

€100,535

-24%

€132,225

124.6%

€58,859

 

Capital & Reserves

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Called Up Share Capital

€127

-

€127

-

€127

-

€127

-

€127

P & L Account Reserve

€89,132

-26.3%

€120,986

11.7%

€108,360

-27.9%

€150,331

-24.7%

€199,763

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

€89,259

-26.3%

€121,113

11.6%

€108,487

-27.9%

€150,458

-24.7%

€199,890

 

Other Financial Items

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Net Worth

€81,871

-28%

€113,725

12.5%

€101,099

-29.3%

€143,070

-25.7%

€192,502

Working Capital

€84,821

2.7%

€82,586

-9%

€90,792

-48.2%

€175,109

35.9%

€128,847

Total Assets

€1,107,775

8.4%

€1,022,196

-5.3%

€1,079,825

-2%

€1,101,862

-10.3%

€1,227,844

Total Liabilities

€1,018,516

13%

€901,083

-7.2%

€971,338

2.1%

€951,404

-7.4%

€1,027,954

Net Assets

€89,259

-26.3%

€121,113

11.6%

€108,487

-27.9%

€150,458

-24.7%

€199,890

 

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

€181,201

5.1%

€172,453

-17.5%

€209,022

-26.1%

€282,683

9.2%

€258,749

 

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

1.09

1.10

1.10

1.21

1.13

Sales/Net Working Capital

-

-

-

-

-

Gearing %

756.20

588.90

726.40

517.20

425

Equity in %

8.10

11.90

10.10

13.70

16.40

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.56

0.60

0.63

0.76

0.66

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

10.38

7.01

8.02

5.44

4.84

Total Debt Ratio

11.41

7.44

8.95

6.32

5.14

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

ADDITIONAL INFORMATION

 

Current Company Secretary

Name

DEREK DOYLE

Date of Birth

15/10/1969

Officers Title

 

Nationality

 

Present Appointments

8

Function

Company Secretary

Appointment Date

20/11/1998

 

 

Address

16 SANDYFORD HALL WALK, SANDYFORD, DUBLIN 18

 

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

O'LEARY

Auditor Comments

The audit report contains additional comments

Bankers

BANK OF IRELAND

Bank Branch Code

90-12-63

 

Status History

No Status History found

 

Event History

Date

Description

07/11/2013

New Accounts Filed

07/11/2013

New Accounts Filed

06/11/2013

Annual Returns

19/12/2012

New Accounts Filed

10/10/2011

New Accounts Filed

08/10/2011

Annual Returns

18/11/2010

New Accounts Filed

18/11/2010

New Accounts Filed

17/11/2010

Annual Returns

30/04/2009

Annual Returns

30/04/2009

New Accounts Filed

31/05/2008

Annual Returns

06/05/2008

New Accounts Filed

17/10/2007

New Accounts Filed

17/10/2007

Annual Returns

 

Previous Company Names

No Previous Names found

 

NOTES & COMMENTS

 

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 decreased by 28% during the latest trading period.

 

An 8.4% 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 audit report contains additional comments.

 

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 incurred a loss after tax and other appropriations, including dividends.

 

The company was established over 15 years ago.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.13

UK Pound

1

Rs.99.65

Euro

1

Rs.82.91

                

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%)

 

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.