MIRA INFORM REPORT

Report Date :

15.09.2014

IDENTIFICATION DETAILS

Name :	BARRY'S TEA

Registered Office :	Kinsale Road, Cork, 180014

Country :	Ireland

Date of Incorporation :	07.03.1967

Com. Reg. No.:	IE024715

Legal Form :	Private unlimited with Share Capital

Line of Business :	Production of Coffee and Coffee Substitutes

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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 :	Unknown
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 – June 01, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Ireland

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 Number	IE024715
Company Name	BARRY'S TEA
Registered Address	KINSALE ROAD CORK 180014
Website Address	-
Telephone Number	(021)4915000	TPS	No
Incorporation Date	07/03/1967
SIC07	10832
SIC07 Description	PRODUCTION OF COFFEE AND COFFEE SUBSTITUTES
Principal Activity

Type	Private unlimited with Share Capital
FTSE Index	-
Share Capital	€68,961
Currency	EUR
Accounts Due Date	-
Filing Date of Accounts	-

Charity Number	-

Fax Number
FPS	No

DIRECTORS/MANAGEMENT

Current Directors

Name	DONAGH BARRY	Date of Birth	03/04/1963
Officers Title		Nationality
Present Appointments	14	Function	Director
Appointment Date	06/01/2009
Address	55 COWPER ROAD, RATHMINES, DUBLIN 6

Name	KAREN BARRY	Date of Birth	04/01/1962
Officers Title		Nationality
Present Appointments	11	Function	Director
Appointment Date	25/01/2007
Address	KENILWORTH, DOUGLAS ROAD, CORK

Name	TONY BARRY	Date of Birth	28/05/1960
Officers Title		Nationality
Present Appointments	47	Function	Director
Appointment Date	13/11/1987
Address	KENILWORTH, DOUGLAS ROAD, CO. CORK

Name	AIDAN DUNLEA	Date of Birth	31/10/1964
Officers Title		Nationality
Present Appointments	8	Function	Director
Appointment Date	06/01/2009
Address	9 HEATHERFIELD, WATERFALL, CO CORK

Current Company Secretary

Name	TONY BARRY	Date of Birth	28/05/1960
Officers Title		Nationality
Present Appointments	47	Function	Company Secretary
Appointment Date	13/11/1987
Address	KENILWORTH, DOUGLAS ROAD, CO. CORK

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
MARGARET BARRY	3	13
MICHAEL O'SULLIVAN	1	16
GREGORY BUTLER	1	13
PETER BARRY	0	5

NEGATIVE INFORMATION

Total Number of Exact CJs -	Total Value of Exact CJs -	€0
Total Number of Possible CJs -	Total Value of Possible CJs -	€0
Total Number of Satisfied CJs -	Total Value of Satisfied CJs -	€0

Possible CJ Details

There are no possible CJ 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.

Mortgage Details

Mortgage Type:	A charge on land, wherever situate, or any interest therein, but not including a charge for any rent
Date Charge Created:	27/06/08
Date Charge Registered:	09/07/08
Date Charge Satisfied:	09/08/13
Status:	FULLY SATISFIED
Person(s) Entitled:	DANSKE BANK A/S
Amount Secured:
Details:

Mortgage Type:	A charge created or evidenced by an instrument which, if executed by an individual, would require re
Date Charge Created:	15/06/07
Date Charge Registered:	03/07/07
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	ALLIED IRISH BANKS PLC
Amount Secured:
Details:	All monies and liabilities which are due at the dale of the Supplemental Mortgage, Charge and Assignment or which shall from time to time be due, owing or incurred by them in accordance with the obligations of the Chargors to the Bank whether solely or jointly with any other person or persons pursuant to the Finance Documents together with interest (if any) at such rates agreed between the Chargors and the Bank in the Facility Letter (as well after as before any demand made or judgment obtained) and all other monies, liabilities, costs and expenses (legal or otherwise) due by the Chargor s to the Bank pursuant to the Finance Documents. Defined terms shall have the meaning given to them in the Annex hereto.

Mortgage Type:	A charge created or evidenced by an instrument which, if executed by an individual, would require re
Date Charge Created:	17/11/06
Date Charge Registered:	07/12/06
Date Charge Satisfied:	-
Status:	NOT SATISFIED
Person(s) Entitled:	ALLIED IRISH BANKS PLC
Amount Secured:
Details:	All monies and liabilities which are due at the date of the Mortgage, Charge and Assignment or which shall from time to time be due, owing or incurred by them in accordance with the obligations of the Chargors to the Bank whether solely or jointly with any other person or persons pursuant to the Finance Documents together with interest (if any) at such rates agreed between the Chargors and the Bank in the Facility Letter (as well after as before any demand made or judgment obtained) and all other monies, liabilities, costs and expenses (legal or otherwise) due by the Chargor s to the Bank pursuant to the Finance Documents. Defined terms shall have the meaning given to them in the Annex attached to Form C1.

Mortgage Type:	A MORTGAGE.
Date Charge Created:	30/03/82
Date Charge Registered:	09/04/82
Date Charge Satisfied:	08/03/07
Status:	FULLY SATISFIED
Person(s) Entitled:	INDUSTRIAL CREDIT CORPORATION PLC
Amount Secured:
Details:	ALL SUMS NOW DUE OR HEREAFTER TO BECOME DUE FROM THE COMPANY TO THE PERSON(S) ENTITLED

Mortgage Type:	A DEBENTURE.
Date Charge Created:	07/07/81
Date Charge Registered:	22/07/81
Date Charge Satisfied:	08/03/07
Status:	FULLY SATISFIED
Person(s) Entitled:	INDUSTRIAL CREDIT CORPORATION PLC
Amount Secured:
Details:	ALL SUMS NOW DUE OR HEREAFTER TO BECOME DUE FROM THE COMPANY TO THE PERSON(S) ENTITLED

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value
BARRY'S HOLDINGS LTD	EUR	31,998	ORDINARY A	1.27
BARRY'S HOLDINGS LTD	EUR	19,000	REDEEMABLE PREFERENCE	1.27
BARRY'S HOLDINGS LTD	EUR	3,300	ORDINARY B	1.27
BARRY'S INVESTMENT CO	EUR	1	ORDINARY A	1.27
PHORSFORD COMPANY	EUR	1	ORDINARY A	1.27

GROUP STRUCTURE & AFFILIATED COMPANIES

Group structure

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
BARRY''S HOLDINGS LTD	N/A	-	-
BARRY'S TEA	IE024715	28.04.1998	N

Business Owner Links

Business Name	Business No	Business Status.
BARRY'S TEA	IE024715
CLARET CAPITAL LIMITED PARTNERSHIP: KELLSBORO	299412	CEASED

FINANCIAL INFORMATION

Key financials

Year to date	30/04/1997
Turnover	€18,269,000
Pre Tax Profit	€6,334,000
Shareholder funds	€40,558,000
Employees	70

Year to date	28/02/1997	-
Turnover	€18,269,000	-
Pre Tax Profit	€6,334,000	-
Shareholder funds	€41,822,000	-
Employees	-	-

Profit & Loss

Date Of Accounts	30/04/97	(%)	28/02/97	(%)	-	(%)	-	(%)	-
Weeks	52	(%)	52	(%)	-	(%)	-	(%)	-
Currency	EUR	(%)	EUR	(%)	-	(%)	-	(%)	-
Consolidated A/cs	Y	(%)	Y	(%)	-	(%)	-	(%)	-
Turnover	€18,269,000	-	€18,269,000	-	-	-	-	-	-
Export	-	-	-	-	-	-	-	-	-
Cost of Sales	€8,007,000	-	€8,007,000	-	-	-	-	-	-
Gross Profit	€10,262,000	-	€10,262,000	-	-	-	-	-	-
Wages & Salaries	-	-	-	-	-	-	-	-	-
Directors Emoluments	-	-	-	-	-	-	-	-	-
Operating Profit	€4,303,000	-	€4,303,000	-	-	-	-	-	-
Depreciation	-	-	-	-	-	-	-	-	-
Audit Fees	-	-	-	-	-	-	-	-	-
Interest Payments	€11,000	-	€11,000	-	-	-	-	-	-
Pre Tax Profit	€6,334,000	-	€6,334,000	-	-	-	-	-	-
Taxation	-€952,000	-	-€952,000	-	-	-	-	-	-
Profit After Tax	€5,382,000	-	€5,382,000	-	-	-	-	-	-
Dividends Payable	€508,000	-	€508,000	-	-	-	-	-	-
Retained Profit	€4,874,000	-	€4,874,000	-	-	-	-	-	-

Balance Sheet

Date Of Accounts	30/04/97	(%)	28/02/97	(%)	-	(%)	-	(%)	-
Tangible Assets	€37,052,000	-	€37,052,000	-	-	-	-	-	-
Intangible Assets	0	-	0	-	-	-	-	-	-
Total Fixed Assets	€37,052,000	-	€37,052,000	-	-	-	-	-	-
Stock	€2,764,000	-	€2,764,000	-	-	-	-	-	-
Trade Debtors	€2,511,000	-13.6%	€2,905,000	-	-	-	-	-	-
Cash	€2,000	-	€2,000	-	-	-	-	-	-
Other Debtors	€40,000	-97.7%	€1,714,000	-	-	-	-	-	-
Miscellaneous Current Assets	€2,068,000	-	0	-	-	-	-	-	-
Total Current Assets	€7,384,000	-	€7,384,000	-	-	-	-	-	-
Trade Creditors	€569,000	-	€569,000	-	-	-	-	-	-
Bank Loans & Overdrafts	€37,000	-	€37,000	-	-	-	-	-	-
Other Short Term Finance	0	-	0	-	-	-	-	-	-
Miscellaneous Current Liabilities	€1,772,000	0.1%	€1,771,000	-	-	-	-	-	-
Total Current Liabilities	€2,377,000	-	€2,377,000	-	-	-	-	-	-
Bank Loans & Overdrafts and LTL	€275,000	-	€275,000	-	-	-	-	-	-
Other Long Term Finance	0	-	0	-	0	-	-	-	-
Total Long Term Liabilities	€238,000	-	€238,000	-	-	-	-	-	-

Capital & Reserves

Date Of Accounts	30/04/97	(%)	28/02/97	(%)	-	(%)	-	(%)	-
Called Up Share Capital	€1,270,000	-	€1,270,000	-	-	-	-	-	-
P & L Account Reserve	€40,527,000	-	€40,527,000	-	-	-	-	-	-
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-€1,239,000	-999.9%	€25,000	-	-	-	-	-	-
Shareholder Funds	€40,558,000	-3%	€41,822,000	-	-	-	-	-	-

Other Financial Items

Date Of Accounts	30/04/97	(%)	28/02/97	(%)	-	(%)	-	(%)	-
Net Worth	€40,558,000	-3%	€41,822,000	-	-	-	-	-	-
Working Capital	€5,007,000	-	€5,007,000	-	-	-	-	-	-
Total Assets	€44,436,000	-	€44,436,000	-	-	-	-	-	-
Total Liabilities	€2,615,000	-	€2,615,000	-	-	-	-	-	-
Net Assets	€41,821,000	-	€41,821,000	-	-	-	-	-	-

Cash Flow

Date Of Accounts	30/04/97	(%)	28/02/97	(%)	-	(%)	-	(%)	-
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

Date Of Accounts	30/04/97	(%)	28/02/97	(%)	-	(%)	-	(%)	-
Contingent Liability	-	-	-	-	-	-	-	-	-
Capital Employed	€41,828,000	0%	€41,822,000	-	-	-	-	-	-
Number of Employees	70	-	-	-	-	-	-	-	-
Auditors	KPMG STOKES KENNEDY CROWLEY
Auditor Comments	No Adverse Comments
Bankers	ALLIED IRISH BANK
Bank Branch Code	93-41-78

Ratios

Date Of Accounts	30/04/97	28/02/97	-	-	-
Pre-tax profit margin %	34.67	34.67	-	-	-
Current ratio	3.11	3.11	-	-	-
Sales/Net Working Capital	-	-	-	-	-
Gearing %	0.70	0.70	-	-	-
Equity in %	91.30	94.10	-	-	-
Creditor Days	11.37	11.37	-	-	-
Debtor Days	50.17	58.04	-	-	-
Liquidity/Acid Test	1.94	1.94	-	-	-
Return On Capital Employed %	15.14	15.15	-	-	-
Return On Total Assets Employed %	14.25	14.25	-	-	-
Current Debt Ratio	0.06	0.06	-	-	-
Total Debt Ratio	0.06	0.06	-	-	-
Stock Turnover Ratio %	15.13	15.13	-	-	-
Return on Net Assets Employed %	15.15	15.15	-	-	-

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Status History

No Status History found.

Event History

Date	Description
16/01/2014	Annual Returns
17/01/2013	Annual Returns
20/01/2012	Annual Returns
19/01/2011	Annual Returns
26/01/2010	Annual Returns
04/02/2009	Annual Returns
06/01/2009	New Board Member (AIDAN DUNLEA) appointed
06/01/2009	New Board Member (DONAGH BARRY) appointed
18/02/2008	Annual Returns
25/01/2007	GREGORY BUTLER has left the board
25/01/2007	New Board Member (KAREN BARRY) appointed
20/11/2002	MARGARET BARRY has left the board
20/11/2002	PETER BARRY has left the board
13/11/1987	New Company Secretary (TONY BARRY) appointed
13/11/1987	New Board Member (TONY BARRY) appointed

Previous Company Names

No Previous Names found.

Received Documents

Document Description	Status	CRO Registered Date
B10 Change In Director Or Secretary	Received	09/09/2014

NOTES & COMMENTS

Commentary

No comments to display.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.84
UK Pound	1	Rs.98.72
Euro	1	Rs.78.64

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%)

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.

MIRA INFORM REPORT

REGISTERED NAME & COMPANY SUMMARY

DIRECTORS/MANAGEMENT

NEGATIVE INFORMATION

SHARE & SHARE CAPITAL INFORMATION

GROUP STRUCTURE & AFFILIATED COMPANIES

FINANCIAL INFORMATION

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

NOTES & COMMENTS

Unit