MIRA INFORM REPORT

 

 

Report Date :

30.09.2014

 

IDENTIFICATION DETAILS

 

Name :

B.W. HARDWARE LIMITED

 

 

Formerly Known As :

J W HARDWARE (1999) LIMITED

 

 

Registered Office :

Unit 1 Airtown Road  Tallaghat 216410

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

23.12.1998

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Wholesale of wood, construction materials and sanitary equipment

 

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Ireland

B1

A2

 

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. 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

 

 

 

 

Company name

 

B.W. HARDWARE LIMITED

 

 

Company summary

 

Company Name

B.W. HARDWARE LIMITED

Trading Address

UNIT 1 AIRTOWN ROAD  TALLAGHAT DUBLIN 24 216410

Registered Address

UNIT 1 AIRTOWN ROAD  TALLAGHAT 216410

 

 

 

 

 

Website Address

-

 

 

Telephone Number

014513616

Fax No

--

TPS

No

FPS

No

Incorporation Date

23.12.1998

Company Status

Active - Accounts Filed

Previous Name

J W HARDWARE (1999) LIMITED

Type

Private limited with Share Capital

Date of Change

-

Filing Date of Accounts

--

 

 

Share Capital

£145,000

SIC03

 

Currency

GBP

SIC03 Description

 

SIC07

46730

SIC07 Description

Wholesale of wood, construction materials and sanitary equipment

Principal Activity

The Wholesale of building materials

 

 

 

DIRECTORS/MANAGEMENT

 

Current Directors

Name

MICHAEL KELLY

Date of Birth

18/05/1958

Officers Title

 

Nationality

 

Present Appointments

2

Function

Director

Appointment Date

02/12/1998

 

 

Address

14 ANNE DEVLIN AVENUE, RATHFARNHAM, DUBLIN 14

Other Actions

View Director Report

 

View AML Report

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

JOHN WHITE

Date of Birth

26/07/1969

Officers Title

 

Nationality

 

Present Appointments

1

Function

Director

Appointment Date

29/11/2011

 

 

Address

BLACKHALL, BALLYMORRIS, PORTARLINGTON, CO LAOIS

Other Actions

View Director Report

 

View AML Report

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

GRAINNE KINNERK

Date of Birth

16/02/1963

Officers Title

 

Nationality

 

Present Appointments

4

Function

Director

Appointment Date

09/11/2011

 

 

Address

SUMMER WINDS, KILTEEL, NAAS, CO.KILDARE

Other Actions

View Director Report

 

View AML Report

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

DEREK BYRNE

Date of Birth

22/03/1978

Officers Title

 

Nationality

 

Present Appointments

1

Function

Director

Appointment Date

12/04/2013

 

 

Address

44 GAZELLE VILLAGE, TYRELLSTOWN, DUBLIN 15

Other Actions

View Director Report

 

View AML Report

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Current Company Secretary

Name

GRAINNE KINNERK

Date of Birth

16/02/1963

Officers Title

 

Nationality

 

Present Appointments

4

Function

Company Secretary

Appointment Date

09/11/2011

 

 

Address

SUMMER WINDS, KILTEEL, NAAS, CO.KILDARE

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

JUNE ARCHBOLD

0

4

JUNE ARCHBOLD

0

4

JACK WHITE

0

1

PAULA CARBERRY

0

2

PAULA CARBERRY

0

2

DOROTHY MAY KANE

16

407

 

 

NEGATIVE INFORMATION

 

Mortgage Summary

Total Mortgage               3

Outstanding                   2

Satisfied                        1

 

 

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade                     0

Total Value of Documented Trade                        €0

 

 

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.

 

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:

25/01/02

 

 

Date Charge Registered:

31/01/02

 

 

Date Charge Satisfied:

09/07/12

 

 

Status:

FULLY SATISFIED

 

 

Person(s) Entitled:

ULSTER BANK IRELAND LIMITED

Amount Secured:

 

Details:

 

 

Mortgage Type:

DEBENTURE.

Date Charge Created:

14/08/00

 

 

Date Charge Registered:

24/08/00

 

 

Date Charge Satisfied:

-

 

 

Status:

NOT SATISFIED

 

 

Person(s) Entitled:

ULSTER BANK LIMITED

Amount Secured:

 

Details:

ALL MONIES DUE OR TO BECOME DUE BY THE COMPANY TO THE LENDER TOGETHER WITH INTEREST

 

Mortgage Type:

MORTGAGE DEBENTURE.

Date Charge Created:

05/01/99

 

 

Date Charge Registered:

25/01/99

 

 

Date Charge Satisfied:

-

 

 

Status:

NOT SATISFIED

 

 

Person(s) Entitled:

ULSTER BANK COMMERCIAL SERVICES LIMITED

Amount Secured:

 

Details:

ALL MONIES, OBLIGATIONS AND LIABILITIES DUE OR TO BECOME DUE BY THE COMPANY TO THE PERSON(S) ENTITLED

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

ANNE MARIE WHITE

EUR

18,000

ORDINARY

2

LAURA WHITE

EUR

18,000

ORDINARY

2

JOHN WHITE

EUR

18,000

ORDINARY

2

MICHAEL KELLY

EUR

15,000

ORDINARY

2

JACK WHITE

EUR

3,500

ORDINARY

2

 

 

PAYMENT INFORMATION

 

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.

 

 

 

Within Terms

0-30 Days

31-60 Days

61-90 Days

91+ Days

Paid

 

 

 

 

 

Outstanding

 

 

 

 

 

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

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

-

-

-

-

-

-

-

-

€2,061,904

Wages & Salaries

-

-

-

-

-

-

-

-

€1,590,405

Directors Emoluments

-

-

-

-

-

-

-

-

€991,680

Operating Profit

-

-

-

-

-

-

-

-

€270,088

Depreciation

€37,437

-41.5%

€63,941

-1.3%

€64,759

-

-

-

€70,590

Audit Fees

-

-

-

-

-

-

-

-

€9,750

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

€325,655

Taxation

-

-

-

-

-

-

-

-

-€86,732

Profit After Tax

-

-

-

-

-

-

-

-

€238,923

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

€238,923

 

 

Balance Sheet

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Tangible Assets

€1,332,136

4%

€1,281,136

-21.2%

€1,626,110

-2.5%

€1,668,325

-11.8%

€1,892,501

Intangible Assets

0

-100%

€14,932

-60%

€37,339

-37.5%

€59,755

-27.3%

€82,155

Total Fixed Assets

€1,332,136

2.8%

€1,296,068

-22.1%

€1,663,449

-3.7%

€1,728,080

-12.5%

€1,974,656

Stock

€439,133

-9.9%

€487,210

-15.1%

€573,769

-1.6%

€583,337

-14.5%

€682,156

Trade Debtors

€716,380

7.5%

€666,145

-16.7%

€799,274

-18.9%

€985,038

-22.8%

€1,275,316

Cash

€1,801,021

-27.6%

€2,489,007

-18.6%

€3,058,465

3%

€2,970,705

23.7%

€2,402,304

Other Debtors

€103,648

-41.2%

€176,145

34.6%

€130,837

31.8%

€99,282

48.5%

€66,841

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

€3,060,182

-19.9%

€3,818,507

-16.3%

€4,562,345

-1.6%

€4,638,362

4.8%

€4,426,617

Trade Creditors

€236,823

19.1%

€198,889

-45.5%

€365,202

-28.9%

€513,851

27.5%

€402,951

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-100%

€105,201

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

€167,463

22.7%

€136,516

-13%

€156,913

-16.2%

€187,246

-50.9%

€381,674

Total Current Liabilities

€404,286

20.5%

€335,405

-35.8%

€522,115

-25.5%

€701,097

-21.2%

€889,826

Bank Loans & Overdrafts and LTL

0

-

0

-

0

-

0

-100%

€106,329

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-

0

-

0

-

0

-100%

€1,128

 

Capital & Reserves

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Called Up Share Capital

€145,000

-27.5%

€200,000

-13%

€230,000

-

€230,000

-

€230,000

P & L Account Reserve

€3,728,032

-17.5%

€4,519,170

-17%

€5,443,679

0.7%

€5,405,345

6.9%

€5,055,279

Revaluation Reserve

-

-

-

-

-

-

-

-100%

€195,040

Sundry Reserves

€115,000

91.7%

€60,000

100%

€30,000

-

€30,000

-

€30,000

Shareholder Funds

€3,988,032

-16.6%

€4,779,170

-16.2%

€5,703,679

0.7%

€5,665,345

2.8%

€5,510,319

 

 

Other Financial Items

Date Of Accounts

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

(%)

31/12/08

Net Worth

€3,988,032

-16.3%

€4,764,238

-15.9%

€5,666,340

1.1%

€5,605,590

3.3%

€5,428,164

Working Capital

€2,655,896

-23.7%

€3,483,102

-13.8%

€4,040,230

2.6%

€3,937,265

11.3%

€3,536,791

Total Assets

€4,392,318

-14.1%

€5,114,575

-17.8%

€6,225,794

-2.2%

€6,366,442

-0.5%

€6,401,273

Total Liabilities

€404,286

20.5%

€335,405

-35.8%

€522,115

-25.5%

€701,097

-21.3%

€890,954

Net Assets

€3,988,032

-16.6%

€4,779,170

-16.2%

€5,703,679

0.7%

€5,665,345

2.8%

€5,510,319

 

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

€3,988,032

-16.6%

€4,779,170

-16.2%

€5,703,679

0.7%

€5,665,345

2.8%

€5,511,447

Number of Employees

-

-

-

-

-

-

-

-

15

Auditors

DELOITTE & TOUCHE

Auditor Comments

The audit report contains no adverse comments

Bankers

ULSTER BANK LTD

Bank Branch Code

98-50-80

 

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

7.57

11.38

8.74

6.62

4.97

Sales/Net Working Capital

-

-

-

-

-

Gearing %

0

0

0

0

1.90

Equity in %

90.80

93.70

92.20

89.80

87.20

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

6.48

9.93

7.63

5.78

4.20

Return On Capital Employed %

-

-

-

-

5.90

Return On Total Assets Employed %

-

-

-

-

5.08

Current Debt Ratio

0.10

0.07

0.09

0.12

0.16

Total Debt Ratio

0.10

0.07

0.09

0.12

0.16

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

5.90

 

 

FOREIGN EXCHANGE RATES

 

N/a

 

ADDITIONAL INFORMATION

 

Status History

No Status History found.

 

 

Event History

Date

Description

07/10/2013

New Accounts Filed

05/10/2013

Annual Returns

12/04/2013

New Board Member (DEREK BYRNE) appointed

20/11/2012

New Accounts Filed

30/10/2012

Annual Returns

07/02/2012

JACK WHITE has left the board

29/11/2011

New Board Member (JOHN WHITE) appointed

09/11/2011

PAULA CARBERRY has resigned as company secretary

09/11/2011

PAULA CARBERRY has left the board

09/11/2011

New Company Secretary (GRAINNE KINNERK) appointed

09/11/2011

New Board Member (GRAINNE KINNERK) appointed

17/08/2011

New Accounts Filed

17/08/2011

New Accounts Filed

02/08/2011

Annual Returns

27/09/2010

New Accounts Filed

 

Previous Company Names

Date

Previous Name

N/A

J W HARDWARE (1999) LIMITED

 

 

NOTES & COMMENTS

 

Commentary

No exact match CCJs are recorded against the company.

The audit report contains no adverse comments.

There is insufficient data to indicate a change in this company's percentage of sales.

There is insufficient data to indicate a change in this company's pre-tax profit.

 

Net Worth decreased by 16.3% during the latest trading period.

A 14.1% decline in Total Assets occurred during the latest trading period.

The company saw a decrease in their Cash Balance of 27.6% during the latest trading period.

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

The company was established over 15 years ago.

Show more

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.42

UK Pound

1

Rs.99.72

Euro

1

Rs.77.93

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NIS

 

               

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.