MIRA INFORM REPORT

 

 

Report No. :

357166

Report Date :

25.12.2015

 

IDENTIFICATION DETAILS

 

Name :

WELLS GRANITE & MARBLE LIMITED

 

 

Registered Office :

Dughlone Kilmuckridge Gorey 274825

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

12.02.2001

 

 

Com. Reg. No.:

IE338884

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Cutting, Shaping and Finishing of Stone

 

 

No. of Employee :

7 (2014)

 

 

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 :

Slow but correct

 

 

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

Company Name and Address

 

WELLS GRANITE & MARBLE LIMITED

 

DUGHLONE KILMUCKRIDGE GOREY 274825

 

 

Company No

 

IE338884

 

 

Company Status

 

Active - Accounts Filed

 

 

Company Summary

 

Registered Address                  DUGHLONE
KILMUCKRIDGE
GOREY
274825

 

Trading Address                      Dughlone Kilmuckridge
Gorey
Co Wexford
Co Wexford
274825

 

Website Address                      -

Eircode                                    -

Telephone Number

Fax Number

TPS                                          No

FPS                                          Yes

Incorporation Date                   12/02/2001

 

Previous Name

 

Type                                         Private limited with Share Capital

FTSE Index                              -

Date of Change             -

Filing Date of Accounts            -

Currency                                  EUR

Share Capital                           €13

SIC07                                       23700

Charity Number                        -

SIC07 Description                    CUTTING, SHAPING AND FINISHING OF STONE

Principal Activity

 

 

Key Financials

 

Year to Date     Turnover          Pre Tax Profit   Shareholder     Funds Employees

31/12/2014        -                       -                       €1,691,426        7         

31/12/2013        -                       -                       €1,496,051        7

31/12/2012        -                       -                       €1,369,636        -

 

 

Mortgage Summary

 

Total Mortgage             0

Outstanding                 0

Satisfied                       0

 

 

Trade Debtors / Bad Debt Summary

 

Total Number of Documented Trade                 0

Total Value of Documented Trade                    €0

 

 

Commentary

 

No exact match CCJs are recorded against the company.

The company's credit rating has increased from 81 to 86 which indicates very good creditworthiness.

The credit limit on this company has risen 100% in comparison to the previously suggested credit limit.

Net Worth increased by 13.1% during the latest trading period.

A 8.9% growth in Total Assets occurred during the latest trading period.

 

 

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

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

4

 

 

Current Directors

 

Title

Function

Director

Name

LISA CARTY

Nationality

Date of Birth

07/1968

Present Appointments

4

Latest Address

DUGHLONE KILMUCKRIDGE, GOREY, CO. WEXFORD

Appointment Date

12/02/2001

Eircode

Title

Function

Director

Name

MICHAEL FANNING

Nationality

Date of Birth

08/1967

Present Appointments

1

Latest Address

DUGHLONE KILMUCKRIDGE, GOREY, CO. WEXFORD

Appointment Date

01/09/2004

Eircode

 

 

Current Company Secretary

 

Title

Function

Company Secretary

Name

LISA CARTY

Nationality

Date of Birth

07/1968

Present Appointments

4

Latest Address

DUGHLONE KILMUCKRIDGE, GOREY, CO. WEXFORD

Appointment Date

12/02/2001

Eircode

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

MICHAEL FANNING

EUR

5

ORDINARY

1.25

50

LISA CARTY

EUR

5

ORDINARY

1.25

50

 

 

Profit & Loss

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

EUR

(%)

EUR

(%)

EUR

(%)

EUR

(%)

EUR

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

barchart-grey

Turnover

-

-

-

-

-

-

-

-

-

barchart-grey

Export

-

-

-

-

-

-

-

-

-

barchart-grey

Cost of Sales

-

-

-

-

-

-

-

-

-

barchart-grey

Gross Profit

-

-

-

-

-

-

-

-

-

barchart-grey

Wages & Salaries

€258,677

2%

€253,621

-

-

-

-

-

-

barchart-grey

Directors Emoluments

€118,860

-

€118,860

-

-

-

-

-

-

barchart-grey

Operating Profit

-

-

-

-

-

-

-

-

-

barchart-grey

Depreciation

-

-

-

-

-

-

-

-

-

barchart-grey

Audit Fees

-

-

-

-

-

-

-

-

-

barchart-grey

Interest Payments

-

-

-

-

-

-

-

-

-

barchart-grey

Pre Tax Profit

-

-

-

-

-

-

-

-

-

barchart-grey

Taxation

-

-

-

-

-

-

-

-

-

barchart-grey

Profit After Tax

-

-

-

-

-

-

-

-

-

barchart-grey

Dividends Payable

-

-

-

-

-

-

-

-

-

barchart-grey

Retained Profit

-

-

-

-

-

-

-

-

-

 

 

Balance Sheet

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

barchart-grey

Tangible Assets

€400,527

13.6%

€352,719

31.1%

€269,056

-7.6%

€291,080

-2%

€296,889

barchart-grey

Intangible Assets

0

-

0

-

0

-

0

-

0

barchart-grey

Total Fixed Assets

€400,527

13.6%

€352,719

31.1%

€269,056

-7.6%

€291,080

-2%

€296,889

barchart-grey

Stock

€287,882

38.7%

€207,545

-21.4%

€263,978

16.8%

€225,912

18.7%

€190,264

barchart-grey

Trade Debtors

€99,317

-3.2%

€102,638

58.7%

€64,671

-22.2%

€83,157

16.7%

€71,285

barchart-grey

Cash

€958,231

2.1%

€938,255

16.9%

€802,914

-15.1%

€945,878

3%

€918,469

barchart-grey

Other Debtors

0

-

0

-

0

-

0

-

0

barchart-grey

Miscellaneous Current Assets

0

-100%

€1,551

-81%

€8,142

-

0

-

0

barchart-grey

Total Current Assets

€1,345,430

7.6%

€1,249,989

9.7%

€1,139,705

-9.2%

€1,254,947

6.3%

€1,180,018

barchart-grey

Trade Creditors

€40,377

-45.6%

€74,173

294.1%

€18,820

-88.5%

€164,207

8.6%

€151,159

barchart-grey

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

barchart-grey

Other Short Term Finance

0

-

0

-

0

-

0

-

0

barchart-grey

Miscellaneous Current Liabilities

€14,154

-56.4%

€32,484

60%

€20,305

96%

€10,362

-31.3%

€15,091

barchart-grey

Total Current Liabilities

€54,531

-48.9%

€106,657

172.6%

€39,125

-77.6%

€174,569

5%

€166,250

barchart-grey

Bank Loans & Overdrafts and LTL

0

-

0

-

0

-

0

-

0

barchart-grey

Other Long Term Finance

0

-

0

-

0

-

0

-

0

barchart-grey

Total Long Term Liabilities

0

-

0

-

0

-

0

-

0

 

 

Capital & Reserves

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

barchart-grey

Called Up Share Capital

€13

-

€13

-

€13

-

€13

-

€13

barchart-grey

P & L Account Reserve

€1,691,413

13.2%

€1,493,763

9.4%

€1,365,073

0%

€1,364,620

4.8%

€1,301,544

barchart-grey

Revaluation Reserve

-

-

-

-

-

-

-

-

-

barchart-grey

Sundry Reserves

-

-100%

€2,275

-50%

€4,550

-33.3%

€6,825

-25%

€9,100

barchart-grey

Shareholder Funds

€1,691,426

13.1%

€1,496,051

9.2%

€1,369,636

-0.1%

€1,371,458

4.6%

€1,310,657

 

 

Other Financial Items

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

barchart-grey

Net Worth

€1,691,426

13.1%

€1,496,051

9.2%

€1,369,636

-0.1%

€1,371,458

4.6%

€1,310,657

barchart-grey

Working Capital

€1,290,899

12.9%

€1,143,332

3.9%

€1,100,580

1.9%

€1,080,378

6.6%

€1,013,768

barchart-grey

Total Assets

€1,745,957

8.9%

€1,602,708

13.8%

€1,408,761

-8.9%

€1,546,027

4.7%

€1,476,907

barchart-grey

Total Liabilities

€54,531

-48.9%

€106,657

172.6%

€39,125

-77.6%

€174,569

5%

€166,250

barchart-grey

Net Assets

€1,691,426

13.1%

€1,496,051

9.2%

€1,369,636

-0.1%

€1,371,458

4.6%

€1,310,657

 

 

Cash Flow

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

barchart-grey

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

barchart-grey

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

barchart-grey

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

barchart-grey

Increase in Cash

-

-

-

-

-

-

-

-

-

 

 

Miscellaneous

 

Date Of Accounts

31/12/14

(%)

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

Contingent Liability

YES

-

YES

-

YES

-

YES

-

YES

barchart-grey

Capital Employed

€1,691,426

13.1%

€1,496,051

9.2%

€1,369,636

-0.1%

€1,371,458

4.6%

€1,310,657

barchart-grey

Number of Employees

7

-

7

-

-

-

-

-

-

Accountants

SHEIL KINNEAR LIMITED

Auditors

Auditor Comments

The company is exempt from audit

Bankers

ALLIED IRISH BANK

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

31/12/14

31/12/13

31/12/12

31/12/11

31/12/10

barchart-grey

Pre-tax profit margin %

-

-

-

-

-

barchart-grey

Current ratio

24.67

11.72

29.13

7.19

7.10

barchart-grey

Sales/Net Working Capital

-

-

-

-

-

barchart-grey

Gearing %

0

0

0

0

0

barchart-grey

Equity in %

96.90

93.30

97.20

88.70

88.70

barchart-grey

Creditor Days

-

-

-

-

-

barchart-grey

Debtor Days

-

-

-

-

-

barchart-grey

Liquidity/Acid Test

19.39

9.77

22.38

5.89

5.95

barchart-grey

Return On Capital Employed %

-

-

-

-

-

barchart-grey

Return On Total Assets Employed %

-

-

-

-

-

barchart-grey

Current Debt Ratio

0.03

0.07

0.02

0.12

0.12

barchart-grey

Total Debt Ratio

0.03

0.07

0.02

0.12

0.12

barchart-grey

Stock Turnover Ratio %

-

-

-

-

-

barchart-grey

Return on Net Assets Employed %

-

-

-

-

-

 

 

Report Notes

 

There are no notes to display.

Status History

 

No Status History found

 

 

Event History

 

Date

Description

20/10/2015

New Accounts Filed

20/10/2015

New Accounts Filed

19/10/2015

Annual Returns

21/10/2014

New Accounts Filed

20/10/2014

Annual Returns

08/10/2013

New Accounts Filed

02/10/2013

Annual Returns

18/10/2012

New Accounts Filed

13/10/2012

Annual Returns

10/10/2011

New Accounts Filed

10/10/2011

New Accounts Filed

07/10/2011

Annual Returns

01/09/2010

New Accounts Filed

31/08/2010

Annual Returns

18/09/2009

Annual Returns

 

 

Previous Company Names

 

No Previous Names found

 

 

Received Documents

 

Writ Details

 

No writs found

 

 

Statistics

 

Group

-

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

-

Ownership Status

Ultimate Holding Company

-

 

 

Group Structure Full

 

No Group Structure

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.20

UK Pound

1

Rs.98.30

Euro

1

Rs.72.41

Euro

1

Rs.72.34

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

TRU

 

 

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.