MIRA INFORM REPORT
|
Report Date : |
07.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
NAGLE MEMORIALS LIMITED |
|
|
|
|
Registered Office : |
Gransha
Lower, Castlemaine, Co Kerry, 999722 |
|
|
|
|
Country : |
Ireland |
|
|
|
|
Date of Incorporation : |
21.02.2013 |
|
|
|
|
Com. Reg. No.: |
IE524198 |
|
|
|
|
Legal Form : |
Private Limited With Share
Capital |
|
|
|
|
Line of Business : |
Cutting, Shaping and Finishing
of Stone |
|
|
|
|
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 – 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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
REGISTERED
NAME & COMPANY SUMMARY
Summary – Company
Information
|
Company Name |
NAGLE
MEMORIALS LIMITED |
Company Number |
IE524198 |
|
|
|
|
|
|
Registered Address |
GRANSHA
LOWER |
Office address |
|
|
Website Address |
- |
|
|
|
Telephone Number |
- |
|
|
|
TPS |
- |
|
|
|
Incorporation Date |
21/02/2013 |
Company Status |
Active - Newly Incorporated |
|
Previous Name |
|
Type |
Private limited with Share
Capital |
|
Date of Change |
- |
Filing Date of Accounts |
- |
|
|
|
Share Capital |
€2 |
|
SIC03 |
2670 |
Currency |
EUR |
|
SIC03 Description |
Cutting, shaping & finish
stone |
||
|
SIC07 |
23700 |
||
|
SIC07 Description |
CUTTING, SHAPING AND FINISHING
OF STONE |
||
|
Principal Activity |
|
|
|
DIRECTORS/MANAGEMENT
Directors
|
Total Current Directors |
2 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors /
Company Secretaries |
0 |
Current Directors
|
Name |
Date of Birth |
12/08/1968 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
21/02/2013 |
|
|
|
Address |
GRANSHA LOWER, CASTLEMAINE, CO.
KERRY |
||
|
|
|
|
|
|
Name |
Date of Birth |
13/09/1969 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
21/02/2013 |
|
|
|
Address |
GRANSHA LOWER, CASTLEMAINE, CO.
KERRY |
||
|
|
|
|
|
Current Company Secretary
|
Name |
Date of Birth |
12/08/1968 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
2 |
Function |
Company
Secretary |
|
Appointment Date |
21/02/2013 |
|
|
|
Address |
GRANSHA LOWER, CASTLEMAINE, CO.
KERRY |
||
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 |
0 |
|
Satisfied |
0 |
SHARE
& SHARE CAPITAL INFORMATION
Top 20
Shareholders
|
Name |
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
PATRICK NAGLE |
EUR |
1 |
ORDINARY |
1 |
50 |
|
BERNADETTE NAGLE |
EUR |
1 |
ORDINARY |
1 |
50 |
PAYMENT
INFORMATION
Summary – Payment History
Last 3 Years Credit Rating/Limit
|
Date |
Rating |
Limit |
|
31/12/2013 |
55 |
€1,000 |
Key Financials
|
No key Financials Registered |
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
|
FOREIGN
EXCHANGE RATES
Na
ADDITIONAL
INFORMATION
Commentary
|
No exact match CCJs are recorded
against the company. |
|
|
The credit limit on this company
has risen 100% in comparison to the previously suggested credit limit. |
|
|
No recent changes in
directorship are recorded. |
|
|
The company is not part of a
group. |
|
|
Newer companies are proven to be
more of an insolvency risk than more established companies. |
|
Event History
Status History
|
No Status History found |
Event History
|
Date |
Description |
|
|
16/09/2013 |
Annual Returns |
|
|
21/02/2013 |
New Board Member (BERNADETTE
NAGLE) appointed |
|
|
21/02/2013 |
New Board Member (PATRICK NAGLE)
appointed |
|
|
21/02/2013 |
New Company Secretary (PATRICK
NAGLE) appointed |
Rating History
|
Date |
Rating |
Description |
|
11/09/2013 |
55 |
Good Credit Worthiness |
|
27/02/2013 |
56 |
Good Credit Worthiness |
|
22/02/2013 |
39 |
Creditworthy |
Limit History
|
Date |
Limit |
|
27/02/2013 |
€1,000 |
|
22/02/2013 |
€500 |
Previous Company Names
|
No Previous Names found |
Received Documents
NOTES
& COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.20 |
|
|
1 |
Rs.101.67 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PDT |
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.