MIRA INFORM REPORT

 

 

Report Date :

27.05.2014

           

IDENTIFICATION DETAILS

           

Name :

VITA NUTRITION LIMITED

 

 

Registered Office :

7 Castle Riada Avenue, Lucan, Co Dublin 452810

 

 

Country :

Ireland

 

 

Financials (as on) :

31.08.2013

 

 

Date of Incorporation :

28.06.2006

 

 

Com. Reg. No.:

Not Available 

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Agents involved in the sale of food, beverages and tobacco

 

 

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 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                         VITA NUTRITION LIMITED

 

Registered Address                    7 CASTLE RIADA AVENUE                                           

LUCAN                                                

CO DUBLIN                                                      

452810                                                             

 

Trading Address                         7 CASTLE RIADA AVENUE                                           

LUCAN                                                

CO DUBLIN      

CO DUBLIN                                                                  

                                                999930

 

Incorporation Date                      28/06/2006                                                       

Share Capital                             €100                                                    

Type                                         Private limited with Share Capital                        

Currency                                   EUR                                        

 

SIC07                                       46170                                                  

Principal Activity                        AGENTS INVOLVED IN THE SALE OF FOOD, BEVERAGES AND TOBACCO

                       

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

4

 

Current Directors

Name

DEEPAK SHARMA

Date of Birth

15/03/1977

Officers Title

 

Nationality

 

Present Appointments

3

Function

Director

Appointment Date

28/06/2006

 

 

Address

7 CASTLE RIADA AVENUE, LUCAN, CO. DUBLIN

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

SAGINA TANEJA

Date of Birth

09/11/1978

Officers Title

 

Nationality

 

Present Appointments

2

Function

Director

Appointment Date

28/06/2006

 

 

Address

7 CASTLE RIADA AVENUE, LUCAN, CO. DUBLIN

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Current Company Secretary

Name

DEEPAK SHARMA

Date of Birth

-

Officers Title

 

Nationality

 

Present Appointments

1

Function

Company Secretary

Appointment Date

31/01/2013

 

 

Address

7 CASTLERIADA AVENUE, LUCAN, CO. DUBLIN

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

SAGINA TANEJA

2

1

YAHYA MAHMOOD

1

5

YAHYA MAHMOOD

1

5

COMPANY SERVICES LIMITED

6837

18869

 

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

 

Possible CJ Details

There are no possible CJ details

 

Writ Details

 

Unregistered - Exact CJ Details

No CJs found

 

Unregistered - Possible CJ Details

No CJs found

 

Registered - Exact CJ Details

No CJs found

 

Registered - Possible CJ Details

No CJs found

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

DEEPAK SHARMA

EUR

99

ORDINARY

1

99

SAGINA TANEJA

EUR

1

ORDINARY

1

1

 

 

PAYMENT INFORMATION

 

 

Creditor Details

 

 

Total Number

Total Value

Trade Creditors

0

-

 

No Creditor Data

 

Trade Debtors / Bad Debt Detail

 

 

Total Number of Documented Trade

Total Value of Documented Trade

Trade Debtors

-

-

 

No Debtor Data

Average Invoice Value

n/a

Invoices available

n/a

Paid

n/a

Outstanding

n/a

 

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Statistics

Group

-

Linkages

0 companies

Countries

In 0 countries

 

 

Group structure

 

No group structure

 

Statistics

 

Group

0 companies

Linkages

0 companies

Countries

In 0 countries

 

FINANCIAL INFORMATION

 

Profit & Loss

Date Of Accounts

31/08/13

(%)

31/08/12

(%)

31/08/11

(%)

31/08/10

(%)

31/08/09

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

€24,283

-20.5%

€30,544

189.6%

€10,546

-9.8%

€11,696

33.4%

€8,767

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

Balance Sheet

Date Of Accounts

31/08/13

(%)

31/08/12

(%)

31/08/11

(%)

31/08/10

(%)

31/08/09

Tangible Assets

€67,782

-15.4%

€80,117

46.5%

€54,685

157.5%

€21,237

13.7%

€18,673

Intangible Assets

0

-100%

€38,250

-

0

-

0

-

0

Total Fixed Assets

€67,782

-42.7%

€118,367

116.5%

€54,685

157.5%

€21,237

13.7%

€18,673

Stock

€311,201

-11.5%

€351,520

-12.5%

€401,778

25.6%

€319,950

36.8%

€233,942

Trade Debtors

€810,490

0.1%

€809,473

46.4%

€552,884

39.7%

€395,787

54.2%

€256,597

Cash

€546

-88.6%

€4,784

-88.6%

€41,852

113.4%

€19,614

-28.3%

€27,370

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-100%

€325

Total Current Assets

€1,122,237

-3.7%

€1,165,777

17%

€996,514

35.5%

€735,351

41.9%

€518,234

Trade Creditors

€405,201

-22.7%

€524,004

23.1%

€425,832

29.3%

€329,212

20.6%

€272,896

Bank Loans & Overdrafts

€100,000

-

€100,000

185.7%

€35,000

-

0

-

0

Other Short Term Finance

€67,835

-16.3%

€81,072

24.7%

€65,000

109.7%

€31,000

-

0

Miscellaneous Current Liabilities

€28,523

80.5%

€15,802

-62.5%

€42,173

178.3%

€15,152

198.6%

€5,074

Total Current Liabilities

€601,559

-16.6%

€720,878

26.9%

€568,005

51.3%

€375,364

35%

€277,970

Bank Loans & Overdrafts and LTL

€141,845

-12.4%

€161,930

362.7%

€35,000

-

0

-

0

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

€41,845

-32.4%

€61,930

-

0

-

0

-

0

 

.

Capital & Reserves

 

Date Of Accounts

31/08/13

(%)

31/08/12

(%)

31/08/11

(%)

31/08/10

(%)

31/08/09

Called Up Share Capital

€100

-

€100

-

€100

-

€100

-

€100

P & L Account Reserve

€546,515

9%

€501,236

3.8%

€483,094

26.8%

€381,124

-

-

Revaluation Reserve

-

-

-

-

-

-

-

-100%

€258,837

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

€546,615

9%

€501,336

3.8%

€483,194

26.7%

€381,224

47.2%

€258,937

 

Other Financial Items

Date Of Accounts

31/08/13

(%)

31/08/12

(%)

31/08/11

(%)

31/08/10

(%)

31/08/09

Net Worth

€546,615

18%

€463,086

-4.2%

€483,194

26.7%

€381,224

47.2%

€258,937

Working Capital

€520,678

17%

€444,899

3.8%

€428,509

19%

€359,987

49.8%

€240,264

Total Assets

€1,190,019

-7.3%

€1,284,144

22.2%

€1,051,199

38.9%

€756,588

40.9%

€536,907

Total Liabilities

€643,404

-17.8%

€782,808

37.8%

€568,005

51.3%

€375,364

35%

€277,970

Net Assets

€546,615

9%

€501,336

3.8%

€483,194

26.7%

€381,224

47.2%

€258,937

 

Cash Flow

Date Of Accounts

31/08/13

(%)

31/08/12

(%)

31/08/11

(%)

31/08/10

(%)

31/08/09

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

Miscellaneous

Date Of Accounts

31/08/13

(%)

31/08/12

(%)

31/08/11

(%)

31/08/10

(%)

31/08/09

Contingent Liability

YES

-

YES

-

NO

-

NO

-

NO

Capital Employed

€588,460

4.5%

€563,266

16.6%

€483,194

26.7%

€381,224

47.2%

€258,937

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

DECLAN G O'SHEA & CO

Auditor Comments

The audit report contains no adverse comments

 

Ratios

Date Of Accounts

31/08/13

31/08/12

31/08/11

31/08/10

31/08/09

Pre-tax profit margin %

-

-

-

-

-

Current ratio

1.87

1.62

1.75

1.96

1.86

Sales/Net Working Capital

-

-

-

-

-

Gearing %

25.90

32.30

7.20

0

0

Equity in %

45.90

40.20

46

50.40

48.20

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

1.34

1.12

1.04

1.10

1.02

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

1.10

1.43

1.17

0.98

1.07

Total Debt Ratio

1.17

1.56

1.17

0.98

1.07

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 increased by 18% during the latest trading period.

 

 

A 7.3% 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 88.6% during the latest trading period.

 

The audit report contains no adverse comments.

 

The company has undergone recent changes in its directorships.

 

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 7 years ago.

 

 

Status History

No Status History found

 

Event History

Date

Description

21/12/2013

New Accounts Filed

21/12/2013

New Accounts Filed

19/12/2013

Annual Returns

31/01/2013

YAHYA MAHMOOD has resigned as company secretary

31/01/2013

YAHYA MAHMOOD has left the board

31/01/2013

New Company Secretary (DEEPAK SHARMA) appointed

25/01/2013

Annual Returns

25/01/2013

New Accounts Filed

08/02/2012

Annual Returns

07/02/2012

New Accounts Filed

07/02/2012

New Accounts Filed

01/02/2012

SAGINA TANEJA has resigned as company secretary

01/02/2012

New Company Secretary (YAHYA MAHMOOD) appointed

01/02/2012

New Board Member (YAHYA MAHMOOD) appointed

27/04/2011

Annual Returns

 

Previous Company Names

No Previous Names found

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.58.58

UK Pound

1

Rs.98.66

Euro

1

Rs.79.81

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.