MIRA INFORM REPORT

 

 

Report No. :

317304

Report Date :

25.04.2015

 

IDENTIFICATION DETAILS

 

Name :

HYGEIA CHEMICALS LIMITED

 

 

Formerly Known As :

HYGEIA GROUP LIMITED

 

 

Registered Office :

Oranmore Co Galway 264005

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

22.11.1997

 

 

Com. Reg. No.:

IE275925

 

 

Legal Form :

Others

 

 

Line of Business :

The manufacture and distribution of agricultural and horticultural chemicals.

 

 

No. of Employees :

27 (2012)

 

 

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 :

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Ireland

A2

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 dropped sharply during the world financial crisis and the subsequent collapse of its domestic property market and construction industry. Faced with sharply reduced revenues and a burgeoning budget deficit from efforts to stabilize its fragile banking sector, the Irish Government introduced the first in a series of draconian budgets in 2009. 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. 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 banking sector and avoid defaulting on its sovereign debt. In March 2011, the KENNY government intensified austerity measures to meet the deficit targets under Ireland's EU-IMF bailout program. 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. In 2014, the economy rapidly picked up and GDP grew by 3.6%. The recovering economy assisted lowering the deficit to 4.2% of GDP. In late 2014, the government introduced a fiscally neutral budget, marking the end of the austerity program. 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. Ireland’s low corporation tax of 12.5% has been central to encouraging business investment. Loose tax residency requirements made Ireland a common destination for international firms seeking to avoid taxation. Amid growing international pressure the government announced it would phase in more stringent tax laws, effectively closing a loophole.

 

 

Source : CIA

 

Company Name and address

 

HYGEIA CHEMICALS LIMITED

 

Company Number:         IE275925

Company Status:          Active - Accounts Filed

Registered Address:      ORANMORE CO GALWAY 264005

 

 

Company Summary

 

Registered Address                   ORANMORE                             Trading Address            ORANMORE

CO GALWAY                                                                CO GALWAY

264005                                                                          CO GALWAY

264005

Website Address                       –

Telephone Number                                                                    Fax Number

TPS                                          No                                            FPS                              No

Incorporation Date                     22/11/1997

Previous Name                          HYGEIA GROUP LIMITED          Type                             Other

FTSE Index                   -

Date of Change                         -                                              Filing Date of Accounts -

Currency                                   EUR                                         Share Capital                €4

SIC07                                                                                       Charity Number             -

SIC07 Description                    

Principal Activity                       The manufacture and distribution of agricultural and horticultural chemicals.

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31/12/2013

-

-

€1,887,352

-

31/12/2012

-

-€38,876

€1,967,444

27

31/12/2011

-

€140,043

€2,051,282

27

 

 

Commentary

 

No exact match CCJs are recorded against the company.

The company saw an increase in their Cash Balance of 32.2% during the latest trading period.

The audit report contains no adverse comments.

 

Total Current Directors

5

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

3

Current Directors

 

Name

JOSEPH DODDY

Date of Birth

09/07/1955

Officers Title

 

Nationality

 

Present Appointments

3

Function

Director

Appointment Date

21/11/2012

 

 

Address

1 WOODLANDS, CASTLESIDE DRIVE, RATHFARNHAM DUBLIN 14.

Name

JOHN COYLE

Date of Birth

20/08/1946

Officers Title

 

Nationality

 

Present Appointments

42

Function

Director

Appointment Date

22/11/1997

 

 

Address

12 THE LONG WALK, GALWAY.

 

 

Name

BRIAN O'GRADY

Date of Birth

06/06/1962

Officers Title

 

Nationality

 

Present Appointments

4

Function

Director

Appointment Date

24/11/2014

 

 

Address

TREANLAUR, MARREE, ORANMORE, CO GALWAY

 

Name

DAVID COYLE

Date of Birth

22/11/1974

Officers Title

 

Nationality

 

Present Appointments

7

Function

Director

Appointment Date

21/11/2012

 

 

Address

19 DONORE ROAD, DUBLIN 8

 

 

Name

EAMONN GERARD FEELY

Date of Birth

26/07/1957

Officers Title

 

Nationality

 

Present Appointments

7

Function

Director

Appointment Date

17/05/2010

 

 

Address

CREGANNA, ORANMORE, CO

 

 

Current Company Secretary

 

Name

EAMONN GERARD FEELY

Date of Birth

26/07/1957

Officers Title

 

Nationality

 

Present Appointments

7

Function

Company Secretary

Appointment Date

23/05/2007

 

 

Address

CREGANNA, ORANMORE, CO

 

 

top 20 Shareholders

 

 

Name

Currency

Share Count

Share Type

Nominal Value

HYGEIA GROUP LTD

EUR

3

ORDINARY

1.27

 

 

Profit & Loss

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

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

-

-

€1,352,995

-17.3%

€1,636,008

-9%

€1,796,831

-2%

€1,833,116

Wages & Salaries

-

-

€1,154,492

-7.4%

€1,247,216

0.4%

€1,242,719

0.2%

€1,240,327

Directors Emoluments

€816,741

269.5%

€221,031

-40.8%

€373,324

44%

€259,324

83.4%

€141,364

Operating Profit

-

-

-€26,876

-119.6%

€136,943

-37.5%

€219,214

-27.6%

€302,895

Depreciation

-

-

€65,588

-13%

€75,351

14.3%

€65,927

-24.3%

€87,094

Audit Fees

-

-

€15,000

-

€15,000

-

€15,000

-

€15,000

Interest Payments

-

-

€83,800

3.1%

€81,300

6.1%

€76,600

-0.1%

€76,700

Pre Tax Profit

-

-

-€38,876

-127.8%

€140,043

-20%

€175,149

-70.2%

€588,395

Taxation

-

-

-€12,850

51.8%

-€26,656

32.2%

-€39,315

-24.3%

-€31,640

Profit After Tax

-

-

-€51,726

-145.6%

€113,387

-16.5%

€135,834

-75.6%

€556,755

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-€51,726

-145.6%

€113,387

-16.5%

€135,834

-75.6%

€556,755

Balance Sheet

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Tangible Assets

€209,952

11.4%

€188,496

-20.8%

€237,914

12%

€212,362

-11.4%

€239,552

Intangible Assets

€18,382

-69.2%

€59,744

113.1%

€28,032

-32.9%

€41,772

49%

€28,026

Total Fixed Assets

€228,334

-8%

€248,240

-6.7%

€265,946

4.6%

€254,134

-5%

€267,578

Stock

€737,023

-19%

€909,703

11.4%

€816,584

10.5%

€738,731

-23.9%

€970,679

Trade Debtors

€1,922,558

7.3%

€1,792,045

600.3%

€255,887

11.3%

€229,830

-23%

€298,375

Cash

€171,989

32.2%

€130,119

8.6%

€119,795

94.8%

€61,483

4.1%

€59,077

Other Debtors

0

-

0

-100%

€1,479,609

-1.1%

€1,495,919

29.1%

€1,158,811

Miscellaneous Current Assets

0

-100%

€5,070

12.8%

€4,493

-90.2%

€45,656

-

0

Total Current Assets

€2,831,570

-0.2%

€2,836,937

6%

€2,676,368

4.1%

€2,571,619

3.4%

€2,486,942

Trade Creditors

€1,112,553

10.6%

€1,006,277

368.7%

€214,699

97.8%

€108,547

-17.4%

€131,435

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-100%

€270,956

23.1%

€220,082

49.2%

€147,513

Miscellaneous Current Liabilities

€59,999

5.5%

€56,856

-80.6%

€292,940

-13.1%

€336,999

-0.3%

€338,144

Total Current Liabilities

€1,172,552

10.3%

€1,063,133

36.5%

€778,595

17%

€665,628

7.9%

€617,092

Bank Loans & Overdrafts and LTL

0

-100%

€54,600

-51.4%

€112,437

45.9%

€77,068

-1.2%

€78,030

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-100%

€54,600

-51.4%

€112,437

45.9%

€77,068

-1.2%

€78,030

.

 

Capital & Reserves

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Called Up Share Capital

€4

-

€4

-

€4

-

€4

-

€4

P & L Account Reserve

€1,887,348

-4.1%

€1,967,440

-4.1%

€2,051,278

-1.5%

€2,083,053

1.1%

€2,059,394

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

€1,887,352

-4.1%

€1,967,444

-4.1%

€2,051,282

-1.5%

€2,083,057

1.1%

€2,059,398

 

 

Other Financial Items

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Net Worth

€1,868,970

-2%

€1,907,700

-5.7%

€2,023,250

-0.9%

€2,041,285

0.5%

€2,031,372

Working Capital

€1,659,018

-6.5%

€1,773,804

-6.5%

€1,897,773

-0.4%

€1,905,991

1.9%

€1,869,850

Total Assets

€3,059,904

-0.8%

€3,085,177

4.9%

€2,942,314

4.1%

€2,825,753

2.6%

€2,754,520

Total Liabilities

€1,172,552

4.9%

€1,117,733

25.4%

€891,032

20%

€742,696

6.8%

€695,122

Net Assets

€1,887,352

-4.1%

€1,967,444

-4.1%

€2,051,282

-1.5%

€2,083,057

1.1%

€2,059,398

 

 

Cash Flow

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Net Cashflow from Operations

-

-

€113,120

-15.4%

€133,788

-25.8%

€180,258

378.8%

€37,649

Net Cashflow before Financing

-

-100%

€10,324

-82.3%

€58,312

999.9%

€2,406

120.3%

-€11,837

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

€10,324

-82.3%

€58,312

999.9%

€2,406

120.3%

-€11,837

Miscellaneous

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Contingent Liability

NO

-

NO

-

YES

-

YES

-

NO

Capital Employed

€1,887,352

-6.7%

€2,022,044

-6.5%

€2,163,719

0.2%

€2,160,125

1.1%

€2,137,428

Number of Employees

-

-

27

-

27

-

27

-10%

30

Auditors

KPMG

Auditor Comments

The audit report contains no adverse comments

Bankers

ALLIED IRISH BANKS PLC

Bank Branch Code

93-70-96

 

 

Ratios

 

Date Of Accounts

31/12/13

31/12/12

31/12/11

31/12/10

31/12/09

Pre-tax profit margin %

-

-

-

-

-

Current ratio

2.41

2.67

3.44

3.86

4.03

Sales/Net Working Capital

-

-

-

-

-

Gearing %

0

2.80

5.50

3.70

3.80

Equity in %

62.10

65

70.40

74.80

75.50

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

1.78

1.81

2.38

2.75

2.45

Return On Capital Employed %

-

-1.92

6.47

8.10

27.52

Return On Total Assets Employed %

-

-1.26

4.75

6.19

21.36

Current Debt Ratio

0.62

0.54

0.37

0.31

0.29

Total Debt Ratio

0.62

0.56

0.43

0.35

0.33

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-1.97

6.82

8.40

28.57

 

 

Report Notes

 

There are no notes to display

 

 

Status History

 

No Status History found

Event History

 

Date

Description

20/01/2015

New Accounts Filed

19/01/2015

Annual Returns

24/11/2014

New Board Member (BRIAN O'GRADY) appointed

05/11/2014

New Accounts Filed

05/11/2014

New Accounts Filed

31/01/2014

EUGENE MCCARTAN has left the board

24/10/2013

New Accounts Filed

24/10/2013

New Accounts Filed

23/10/2013

Annual Returns

21/11/2012

New Board Member (DAVID COYLE) appointed

21/11/2012

New Board Member (JOSEPH DODDY) appointed

01/11/2012

New Accounts Filed

01/11/2012

New Accounts Filed

31/10/2012

Annual Returns

10/11/2011

New Accounts Filed

 

 

Previous Company Names

 

Date

Previous Name

N/A

HYGEIA GROUP LIMITED

 

 

Writ Details

 

No writs found

 

 

Statistics

 

Group

4 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

HYGEIA GROUP LIMITED

Ownership Status

Intermediately Owned

Ultimate Holding Company

HYGEIA GROUP LIMITED

 

 

Group Structure Full

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

HYGEIA GROUP LIMITED

IE078019

31.12.2013

N

AGRICHEM (INTERNATIONA...

01294237

31.12.2013

N

£795,648

HYGEIA CHEMICALS LIMITED

IE275925

31.12.2013

N

AGRICHEM LIMITED

IE046980

31.12.2014

N

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

EUGENE MCCARTAN

4

4

PETER MOORE

1

7

PETER MOORE

1

7

 

 

Average Invoice Value

€344.50

Invoices available

2

Paid

2

Outstanding

0

 

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

2

0

0

0

0

Outstanding

0

0

0

0

0

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.40

UK Pound

1

Rs.95.42

Euro

1

Rs.68.49

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

VNT

 

               

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.