|
Report No. : |
352795 |
|
Report Date : |
05.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
INSTANT UPRIGHT LIMITED |
|
|
|
|
Formerly Known As :s |
UP-RIGHT INTERNATIONAL LIMITED |
|
|
|
|
Registered Office : |
Upright Ireland, Unit S1 Park West Industrial Estate, Friel Avenue Nangor Road, 216410 |
|
|
|
|
Country : |
Ireland |
|
|
|
|
Financials (as on) : |
30.06.2008 |
|
|
|
|
Date of Incorporation : |
17.05.1988 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
The manufacture and distribution of
aerial access equipment |
|
|
|
|
No. of Employee
: |
102 (30.06.2008) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
INSTANT
UPRIGHT LIMITED
UPRIGHT IRELAND,
UNIT S1 PARK WEST INDUSTRIAL ESTATE, FRIEL
AVENUE NANGOR ROAD, 216410
|
Registered Address |
UPRIGHT IRELAND |
Trading Address |
UPRIGHT IRELAND |
|
|
UNIT S1 PARK WEST |
|
UNIT S1 PARK WEST |
|
|
INDUSTRIAL ESTATE |
|
INDUSTRIAL ESTATE |
|
|
FRIEL AVENUE NANGOR ROAD |
|
FRIEL AVENUE NANGOR ROAD |
|
|
216410 |
|
DUBLIN 12 |
|
|
|
|
219210 |
|
Website Address |
- |
|
|
|
Telephone Number |
|
Fax Number |
|
|
TPS |
No |
FPS |
No |
|
Incorporation Date |
17/05/1988 |
|
|
|
Previous Name |
UP-RIGHT INTERNATIONAL |
Type |
Limited Company |
|
|
LIMITED |
|
|
|
FTSE Index |
- |
Date of Change |
- |
|
Filing Date of Accounts |
- |
Currency |
|
|
Share Capital |
- |
SIC07 |
|
|
Charity Number |
- |
SIC07 Description |
|
|
Principal Activity |
The manufacture and distribution of
aerial access equipment. |
|
|
We are unable to advise a Business Ranking for this company as we don’t have the SIC code for this company
therefore we are unable to identify what industry this company trades within
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder |
Funds Employees |
|
30/06/2008 |
€19,951,720 |
-€14,629 |
€2,927,779 |
102 |
|
30/06/2007 |
€23,199,405 |
€1,760,517 |
€2,966,750 |
113 |
|
30/06/2006 |
€39,581,000 |
-€2,945,000 |
€1,819,000 |
104 |
|
Total Mortgage |
1 |
|
Outstanding |
1 |
|
Satisfied |
0 |
Trade
Debtors / Bad Debt Summary
|
Total Number of
Documented Trade |
0 |
|
Total Value of
Documented Trade |
€0 |
Commentary
No comments to display
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 |
|
Total Current Directors |
0 |
|
Total Current Secretaries |
0 |
|
Total
Previous Directors / Company Secretaries |
|
Profit & Loss
|
Date Of |
30/06/08 |
(%) |
30/06/07 |
(%) |
30/06/06 |
(%) |
30/06/02 |
(%) - |
|
Accounts |
|
|
|
|
|
|
|
|
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) - |
|
Currency |
EUR |
(%) |
EUR |
(%) |
EUR |
(%) |
EUR (%) - |
|
|
Consolidated |
|
|
|
|
|
|
|
|
|
A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
|
N (%) - |
|
Turnover |
€19,951,720 |
-14% |
€23,199,405 |
-41.4% |
€39,581,000 |
53.6% |
€25,762,000 |
- - |
|
Export |
- |
- |
- |
- |
- |
- |
- |
-
- |
|
Cost
of Sales |
€14,305,501 |
-8.8% |
€15,688,033 |
-46.1% |
€29,118,000 |
47.3% |
€19,767,000 |
-
- |
|
Gross
Profit |
€5,646,219 |
-24.8% |
€7,511,372 |
-28.2% |
€10,463,000 |
74.6% |
€5,994,000 |
-
- |
|
Wages
& |
€5,024,261 |
10.3% |
€4,556,766 |
- |
- |
- |
- |
-
- |
|
Salaries |
|
|
|
|
|
|
|
|
|
Directors |
|
|
|
|
|
|
|
|
|
|
- |
- |
- |
- |
- |
- |
- |
-
- |
|
Emoluments |
|
|
|
|
|
|
|
|
|
Operating Profit |
€153,031 |
-92.2% |
€1,970,176 |
180.7% |
-€2,442,000 |
-513.9% |
€590,000 |
- - |
|
Depreciation |
€283,815 |
-6.3% |
€302,825 |
- |
- |
- |
- |
-
- |
|
Audit
Fees |
€27,000 |
8% |
€25,000 |
- |
- |
- |
- |
-
- |
|
Interest |
|
|
|
|
|
|
|
|
|
|
€167,660 |
-76.7% |
€719,659 |
34.5% |
€535,000 |
88.4% |
€284,000 |
-
- |
|
Payments |
|
|
|
|
|
|
|
|
|
Pre Tax Profit |
-€14,629 |
-100.8% |
€1,760,517 |
159.8% |
-€2,945,000 |
-999.9% |
€316,000 |
- - |
|
Taxation |
-€24,342 |
92.2% |
-€313,150 |
-151.3% |
€611,000 |
999.9% |
-€40,000 |
-
- |
|
Profit
After Tax |
-€38,971 |
-102.7% |
€1,447,367 |
162% |
-€2,334,000 |
-945.7% |
€276,000 |
-
- |
|
Dividends
Payable
|
- |
-100% |
€169,669 |
- |
- |
- |
- |
-
- |
|
Retained Profit |
-€38,971 |
-103.1% |
€1,277,698 |
154.7% |
-€2,335,000 |
-946% |
€276,000 |
- - |
Balance Sheet
|
Date Of |
30/06/08 |
(%) |
30/06/07 |
(%) |
30/06/06 |
(%) |
30/06/02 |
(%) - |
|
Accounts |
|
|
|
|
|
|
|
|
|
Tangible
Assets |
€2,247,786 |
-2.8% |
€2,313,650 |
-2.3% |
€2,367,000 |
-54.2% |
€5,165,000 |
-
- |
|
Intangible |
0 |
- |
0 |
- |
0 |
- |
0 |
-
- |
|
Assets |
|
|
|
|
|
|
|
|
|
Total Fixed |
€2,247,786 |
-2.8% |
€2,313,650 |
-2.3% |
€2,367,000 |
-54.2% |
€5,165,000 |
- - |
|
Assets |
|
|
|
|
|
|
|
|
|
Stock |
€1,744,480 |
-2.7% |
€1,793,247 |
20.8% |
€1,485,000 |
-69% |
€4,791,000 |
-
- |
|
Trade
Debtors |
€4,047,807 |
-44.5% |
€7,296,539 |
-6.6% |
€7,815,000 |
-23.5% |
€10,212,000 |
-
- |
|
Cash |
€347,067 |
26.3% |
€274,855 |
-89.6% |
€2,645,000 |
31.9% |
€2,005,000 |
-
- |
|
Other
Debtors |
€435,158 |
-30.8% |
€628,467 |
-72.1% |
€2,250,000 |
736.4% |
€269,000 |
-
- |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
-
- |
|
Total Current Assets |
€6,574,512 |
-34.2% |
€9,993,108 |
-29.6% |
€14,195,000 |
-17.8% |
€17,277,000 |
- - |
|
Trade
Creditors |
€1,706,485 |
-36.9% |
€2,705,105 |
-1.2% |
€2,737,000 |
-18.4% |
€3,353,000 |
-
- |
|
Bank Loans & Overdrafts |
€1,061,588 |
-43.2% |
€1,869,841 |
-60.6% |
€4,751,000 |
-2.6% |
€4,879,000 |
-
- |
|
Other Short Term Finance |
€154,791 |
-23.9% |
€203,375 |
-23.3% |
€265,000 |
22.1% |
€217,000 |
-
- |
|
Miscellaneous Current Liabilities |
€2,209,632 |
-51.4% |
€4,547,030 |
-22.6% |
€5,874,000 |
3.9% |
€5,656,000 |
-
- |
|
Total Current Liabilities |
€5,132,496 |
-45% |
€9,325,351 |
-31.6% |
€13,627,000 |
-3.4% |
€14,105,000 |
- - |
|
Bank
Loans & Overdrafts
and LTL
|
€1,823,611 |
-3.2% |
€1,884,498 |
-67.9% |
€5,868,000 |
-17.4% |
€7,104,000 |
-
- |
|
Other
Long Term Finance
|
€38,246 |
160.9% |
€14,657 |
-86% |
€105,000 |
-47.5% |
€200,000 |
-
- |
|
Total Long Term Liabilities |
€762,023 |
999.9% |
€14,657 |
-98.7% |
€1,117,000 |
-49.8% |
€2,225,000 |
- - |
Capital & Reserves
|
Date Of |
30/06/08 |
(%) |
30/06/07 |
(%) |
30/06/06 |
(%) |
30/06/02 |
(%) - |
|
Accounts |
|
|
|
|
|
|
|
|
|
Called
Up Share Capital
|
€87,778 |
- |
€87,778 |
-0.3% |
€88,000 |
- |
€88,000 |
-
- |
|
P
& L Account Reserve
|
€2,840,001 |
-1.4% |
€2,878,972 |
196.2% |
€972,000 |
-83.9% |
€6,023,000 |
-
- |
|
Revaluation Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry
Reserves
|
- |
- |
- |
-100% |
€759,000 |
- |
- |
-
- |
|
Shareholder Funds |
€2,927,779 |
-1.3% |
€2,966,750 |
63.1% |
€1,819,000 |
-70.2% |
€6,111,000 |
- - |
Other Financial Items
|
Date Of |
30/06/08 |
(%) |
30/06/07 |
(%) |
30/06/06 |
(%) |
30/06/02 |
(%) - |
|
Accounts |
|
|
|
|
|
|
|
|
|
Net Worth |
€2,927,779 |
-1.3% |
€2,966,750 |
63.1% |
€1,819,000 |
-70.2% |
€6,111,000 |
- - |
|
Working Capital |
€1,442,016 |
115.9% |
€667,757 |
17.6% |
€568,000 |
-82.1% |
€3,172,000 |
- - |
|
Total Assets |
€8,822,298 |
-28.3% |
€12,306,758 |
-25.7% |
€16,562,000 |
-26.2% |
€22,442,000 |
- - |
|
Total Liabilities |
€5,894,519 |
-36.9% |
€9,340,008 |
-36.7% |
€14,744,000 |
-9.7% |
€16,330,000 |
- - |
|
Net Assets |
€2,927,779 |
-1.3% |
€2,966,750 |
63.2% |
€1,818,000 |
-70.3% |
€6,112,000 |
- - |
Cash Flow
|
Date Of |
30/06/08 |
(%) |
30/06/07 |
(%) |
30/06/06 |
(%) |
30/06/02 |
(%) - |
|
|
Accounts |
|
|
|
|
|
|
|
|
|
|
Net
Cashflow from
Operations |
€1,302,920 |
-38.7% |
€2,125,510 |
- |
- |
- |
- |
- |
- |
|
Net
Cashflow before Financing |
€925,460 |
-39.7% |
€1,534,840 |
- |
- |
- |
- |
- |
- |
|
Net
Cashflow from Financing |
-€44,995 |
95.6% |
-€1,023,955 |
- |
- |
- |
- |
- |
- |
|
Increase
in Cash
|
€880,465 |
72.3% |
€510,885 |
- |
- |
- |
- |
- |
- |
Miscellaneous
|
Date Of |
30/06/08 |
(%) |
30/06/07 |
(%) |
30/06/06 |
(%) |
30/06/02 |
(%) - |
|
|
Accounts |
|
|
|
|
|
|
|
|
|
|
Contingent
Liability |
NO
|
- |
NO
|
- |
|
- |
|
-- |
|
|
Capital
Employed |
€3,689,802 |
23.8% |
€2,981,407 |
64% |
€1,818,000 |
-70.3% |
€6,111,000 |
- |
- |
|
Number
of Employees
|
102 |
-9.7% |
113 |
8.7% |
104 |
- |
- |
- |
- |
|
Accountants
|
|
|
|
|
|
|
|
|
|
|
Auditors |
GRANT
THORNTON |
|
|
||||||
|
Auditor |
|
|
|
|
|
|
|
|
|
|
|
The
audit report contains no adverse comments |
|
|
||||||
|
Comments |
|
|
|
|
|
|
|
|
|
|
Bankers |
BANK
OF IRELAND |
|
|
||||||
|
Bank
Branch Code |
|
|
|
||||||
Ratios
|
Date Of |
30/06/08 |
30/06/07 |
30/06/06 |
30/06/- |
||
|
Accounts |
||||||
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
Pre-tax profit |
-0.07 |
7.59 |
-7.44 |
1.23- |
||
|
margin % |
||||||
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
Current ratio |
1.28 |
1.07 |
1.04 |
1.22- |
||
|
|
|
|
|
|
|
|
|
Sales/Net |
13.84 |
34.74 |
- |
-
- |
||
|
Working Capital |
||||||
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
Gearing % |
62.30 |
63.50 |
322.60 |
116.-2 |
||
|
|
|
|
|
|
|
|
|
Equity in
% |
33.20 |
24.10 |
11 |
27.20- |
||
|
|
|
|
|
|
|
|
|
Creditor Days |
31.13 |
42.44 |
25.24 |
47.51- |
||
|
|
|
|
|
|
|
|
|
Debtor Days |
73.84 |
114.48 |
72.07 |
144.-6 |
||
|
|
|
|
|
|
|
|
|
Liquidity/Acid |
0.94 |
0.88 |
0.93 |
0.89- |
||
|
Test |
||||||
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
Return On |
|
|
|
|
|
|
|
Capital |
-0.39 |
59.05 |
-161.99 |
5.17- |
||
|
Employed % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return On
Total |
|
|
|
|
|
|
|
Assets |
-0.16 |
14.30 |
-17.78 |
1.41- |
||
|
Employed % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Debt |
1.75 |
3.14 |
7.49 |
2.31- |
||
|
Ratio |
||||||
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
Total Debt
Ratio |
2.01 |
3.14 |
8.11 |
2.67- |
||
|
|
|
|
|
|
|
|
|
Stock Turnover |
8.74 |
7.73 |
3.75 |
18.60- |
||
|
Ratio % |
||||||
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
Return on
Net |
|
|
|
|
|
|
|
Assets |
-0.49 |
59.34 |
-161.99 |
5.17- |
||
|
Employed % |
|
|
|
|
|
|
Report Notes
There are no notes to display.
Status
History
No Status History found
Event History
|
Date |
Description |
|
11/05/2009 |
New Accounts Filed |
|
13/05/2008 |
New Accounts Filed |
|
Date |
Previous Name |
|
N/A |
UP-RIGHT INTERNATIONAL LIMITED |
|
03/08/1989 |
UP-RIGHT INTERNATIONAL MANUFACTURING LIMITED |
Received
Documents
Writ Details
No writs found
|
Statistics |
|
Summary |
|
|
Group |
- |
Holding Company |
- |
|
Linkages |
0 companies |
Ownership Status |
|
|
Countries |
In 0 countries |
Ultimate Holding Company |
- |
Group
Structure
No Group Structure
|
Business Name |
Business No |
Business Status. |
|
INSTANT UPRIGHT LIMITED |
IE902915 |
|
|
UPRIGHT INTERNATIONAL |
107076 |
NORMAL |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.84 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.73.05 |
|
EUR |
1 |
Rs. 72.54 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ASH |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.