MIRA INFORM REPORT

Report Date :

09.05.2014

IDENTIFICATION DETAILS

Name :	S. & N. GRANITE LIMITED
Registered Office :	The Bay, Camolin, Co Wexford, 709625
Country :	Ireland
Financials (as on) :	31.12.2012
Date of Incorporation :	29.05.2001
Com. Reg. No.:	IE343737
Legal Form :	Private limited with Share Capital
Line of Business :	· Wholesaler of wood, construction materials and sanitary equipment Supplier of solid granite and limestone building products, sandstone, limestone and granite paving as well as window sills variety.
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 – 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
Moderate Low Risk	B1
Moderate Risk	B2
Moderate 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 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 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	S. & N. GRANITE LIMITED	Company Number	IE343737
Registered Address	THE BAY CAMOLIN CO WEXFORD 709625
Website Address	http://www.sngranite.ie	E-Mail - Id	info@sngranite.ie
Telephone Number	+353 53 9383992	Fax Number	+353 53 9383996
TPS	No
Incorporation Date	29/05/2001	Company Status	Active - Accounts Filed
Previous Name		Type	Private limited with Share Capital
Date of Change	-	Filing Date of Accounts	-
		Share Capital	€5
SIC03	5153	Currency	EUR
SIC03 Description	Wholesale wood, construction
SIC07	46730
SIC07 Description	· Wholesaler of wood, construction materials and sanitary equipment Supplier of solid granite and limestone building products, sandstone, limestone and granite paving as well as window sills variety.

DIRECTORS/MANAGEMENT

Directors

Total Current Directors	2
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	3

Current Directors

Name	MICHAEL NOLAN	Date of Birth	03/01/1944
Officers Title		Nationality
Present Appointments	1	Function	Director
Appointment Date	29/05/2001
Address	BAYLANDS, CAMOLIN, ENNISCORTHY, CO. WEXFORD
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	MARY CHRISTINA NOLAN	Date of Birth	21/12/1944
Officers Title		Nationality
Present Appointments	1	Function	Director
Appointment Date	29/05/2001
Address	BAYLANDS, CAMOLIN, ENNISCORTHY, CO. WEXFORD
Other Actions	View Director Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Current Company Secretary

Name	MARY CHRISTINA NOLAN	Date of Birth	31/12/1944
Officers Title		Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	01/01/2003
Address	THE BAY, CAMOLIN, ENNISCORTHY, CO. WEXFORD

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

Mortgage Summary

Outstanding	1
Satisfied	0

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value
MARY NOLAN	EUR	2	ORDINARY	1.27
MICHAEL NOLAN	EUR	2	ORDINARY	1.27

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

PAYMENT INFORMATION

Key Financials

Year to Date	Turnover	Pre Tax Profit	Shareholder Funds	Employees
31/12/2012	-	-	€3,544,149	-
31/12/2011	-	-	€3,640,054	-
31/12/2010	-	-	€3,608,481	-

Payment Information Summary

Days Beyond Terms

Trend Indicator

                         Average Payment Experience  

N/A	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	-
Linkages	0 companies
Countries	In 0 countries

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	€48,054	2.9%	€46,704	-34.2%	€71,018	-7.6%	€76,892	30.7%	€58,810
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	€1,946,391	-0.5%	€1,955,534	-0.6%	€1,967,800	2.3%	€1,924,018	13.2%	€1,698,995
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	€1,946,391	-0.5%	€1,955,534	-0.6%	€1,967,800	2.3%	€1,924,018	13.2%	€1,698,995
Stock	€1,645,597	-6.2%	€1,754,100	-10.6%	€1,962,506	6.7%	€1,839,473	-2.2%	€1,880,450
Trade Debtors	€338,885	-3.3%	€350,456	14.8%	€305,304	-18%	€372,159	-30.7%	€537,152
Cash	0	-100%	€1,887	-	0	-100%	€11,378	-50.2%	€22,841
Other Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	€1,984,482	-5.8%	€2,106,443	-7.1%	€2,267,810	2%	€2,223,010	-8.9%	€2,440,443
Trade Creditors	€10,131	117.6%	€4,655	-54%	€10,121	-63.2%	€27,501	-43.1%	€48,314
Bank Loans & Overdrafts	€7,450	-	0	-100%	€51,962	-	0	-	0
Other Short Term Finance	€95,260	-	€95,260	-	€95,260	-44.9%	€172,908	101.3%	€85,901
Miscellaneous Current Liabilities	€41,613	46.6%	€28,394	-28.8%	€39,867	-19.2%	€49,362	30%	€37,959
Total Current Liabilities	€154,454	20.4%	€128,309	-34.9%	€197,210	-21%	€249,771	45.1%	€172,174
Bank Loans & Overdrafts and LTL	€239,720	-18.4%	€293,614	-39.1%	€481,881	30.7%	€368,657	-22.7%	€476,944
Other Long Term Finance	€232,270	-20.9%	€293,614	-31.7%	€429,919	16.6%	€368,657	-22.7%	€476,944
Total Long Term Liabilities	€232,270	-20.9%	€293,614	-31.7%	€429,919	16.6%	€368,657	-22.7%	€476,944

Capital & Reserves

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Called Up Share Capital	€5	-	€5	-	€5	-	€5	-	€5
P & L Account Reserve	€3,544,144	-2.6%	€3,640,049	0.9%	€3,608,476	2.3%	€3,528,595	1.1%	€3,490,315
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	€3,544,149	-2.6%	€3,640,054	0.9%	€3,608,481	2.3%	€3,528,600	1.1%	€3,490,320

Other Financial Items

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Net Worth	€3,544,149	-2.6%	€3,640,054	0.9%	€3,608,481	2.3%	€3,528,600	1.1%	€3,490,320
Working Capital	€1,830,028	-7.5%	€1,978,134	-4.5%	€2,070,600	4.9%	€1,973,239	-13%	€2,268,269
Total Assets	€3,930,873	-3.2%	€4,061,977	-4.1%	€4,235,610	2.1%	€4,147,028	0.2%	€4,139,438
Total Liabilities	€386,724	-8.3%	€421,923	-32.7%	€627,129	1.4%	€618,428	-4.7%	€649,118
Net Assets	€3,544,149	-2.6%	€3,640,054	0.9%	€3,608,481	2.3%	€3,528,600	1.1%	€3,490,320

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	€3,776,419	-4%	€3,933,668	-2.6%	€4,038,400	3.6%	€3,897,257	-1.8%	€3,967,264
Number of Employees	-	-	-	-	-	-	-	-	-
Auditors
Auditor Comments	The company is exempt from audit
Bankers	BANK OF IRELAND
Bank Branch Code	90-65-66

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	12.85	16.42	11.50	8.90	14.17
Sales/Net Working Capital	-	-	-	-	-
Gearing %	6.80	8.10	13.40	10.40	13.70
Equity in %	90.20	89.60	85.20	85.10	84.30
Creditor Days	-	-	-	-	-
Debtor Days	-	-	-	-	-
Liquidity/Acid Test	2.19	2.74	1.54	1.53	3.25
Return On Capital Employed %	-	-	-	-	-
Return On Total Assets Employed %	-	-	-	-	-
Current Debt Ratio	0.04	0.03	0.05	0.07	0.04
Total Debt Ratio	0.10	0.11	0.17	0.17	0.18
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 decreased by 2.6% during the latest trading period.
A 3.2% 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 100% 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 incurred a loss after tax and other appropriations, including dividends.
The company was established over 12 years ago.

Event History

Status History

No Status History found

Event History

Date	Description
15/10/2013	New Accounts Filed
12/10/2013	Annual Returns
22/09/2012	New Accounts Filed
21/09/2012	Annual Returns
22/08/2011	New Accounts Filed
22/08/2011	New Accounts Filed
19/08/2011	Annual Returns
10/09/2010	Annual Returns
09/09/2010	New Accounts Filed
09/09/2010	New Accounts Filed
31/08/2009	New Accounts Filed
27/08/2009	Annual Returns
16/06/2009	Annual Returns
02/07/2008	Annual Returns
01/07/2008	Annual Returns

Previous Company Names

No Previous Names found

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.99
UK Pound	1	Rs.101.75
Euro	1	Rs.83.48

INFORMATION DETAILS

Analysis Done by :	RAS
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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.