MIRA INFORM REPORT

 

 

Report No. :

312825

Report Date :

31.03.2015

 

IDENTIFICATION DETAILS

 

Name :

PRODUCTION CHEMICAL LIMITED

 

 

Registered Office :

3rd Floor Ulysses Housefoley Street Dublin1216410

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

26.06.2006

 

 

Com. Reg. No.:

IE422589

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Agents specialized in the sale of other particular products

 

[Note: We tried to confirm / obtain the detailed activity but the same is not available from any sources]

 

 

No. of Employee :

Not Available

 

 

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 :

Slow

 

 

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 has dropped sharply since the onset of the world FINANCIALhttps://cdncache-a.akamaihd.net/items/it/img/arrow-10x10.png 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

 

PRODUCTION CHEMICAL LIMITED

 

 

Company Summary

 

Registered Address

3RD FLOOR ULYSSES HOUSE FOLEY STREET DUBLIN
1216410

Trading Address

THIRD FLOOR ULYSSES HOUSE FOLEY STREET DUBLIN 1216410

Website Address

-

 

 

Telephone Number

 

Fax Number

 

TPS

No

FPS

No

Incorporation Date

26/06/2006

 

 

Previous Name

 

Type

Private limited with Share Capital

FTSE Index

-

Date of Change

-

Filing Date of Accounts

-

Currency

EUR

Share Capital

€10

SIC07

46180

Charity Number

 

 

 

SIC07 Description

AGENTS SPECIALIZED IN THE SALE OF OTHER PARTICULAR PRODUCTS

Principal Activity

 

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31/12.2013

--

--

-€249,368

--

31/12/2012

--

--

-€163,508

--

31/12/2011

--

--

-€211,465

--

 

 

Commentary

 

No exact match CCJs are recorded against the company.

A 9.7% growth in Total Assets occurred during the latest trading period.

The company saw an increase in their Cash Balance of 255.2% during the latest trading period.

The audit report contains no adverse comments.

 

 

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

 

Name

PETER VAN DER SLOOT

Date of Birth

10/12/1954

Officers Title

Nationality

Present Appointments

1

Function

Director

Appointment Date

28/06/2006

Address

1 BELLE VUE CLOSE, STAINES, MIDDLESEX, TW18 2HY

 

Name

MARK NATHAN

Date of Birth

28/03/1979

Officers Title

Nationality

Present Appointments

44

Function

Director

Appointment Date

01/01/2011

Address

2 DONNYBROOK MANOR, DONNYBROOK, DUBLIN 4.

 

 

Current Company Secretary

 

Name

NATSEC LIMITED

Date of Birth

13/11/1968

Officers Title

Nationality

Present Appointments

345

Function

Company Secretary

Appointment Date

28/06/2006

Address

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

PRODUCTION CHEMICAL INTERNATIONAL HOLDINGS LTD

EUR

8

ORDINARY

1

80

PETER VAN DER SLOOT

EUR

2

ORDINARY

1

20

 

 

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

-

-

-

-

-

-

-

-

-

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

-

-

-

-

-

-

-

-

-

Depreciation

-

-

-

-

-

-

-

-

-

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

 

Balance Sheet

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Tangible Assets

€38,465

-18%

€46,902

999.9%

€388

-97.9%

€18,224

-17.6%

€22,129

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

€38,465

-18%

€46,902

999.9%

€388

-97.9%

€18,224

-17.6%

€22,129

Stock

0

-

0

-

0

-

0

-

0

Trade Debtors

€74,742

-61.2%

€192,721

98.6%

€97,042

888.7%

€9,815

319.8%

€2,338

Cash

€216,569

255.2%

€60,975

-48.4%

€118,198

146.3%

€47,994

54.3%

€31,108

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

€291,311

14.8%

€253,696

17.9%

€215,240

272.3%

€57,809

72.8%

€33,446

Trade Creditors

€579,144

24.8%

€464,106

8.7%

€427,093

32.3%

€322,907

30.8%

€246,777

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

0

Total Current Liabilities

€579,144

24.8%

€464,106

8.7%

€427,093

32.3%

€322,907

30.8%

€246,777

Bank Loans & Overdrafts and LTL

0

-

0

-

0

-

0

-

0

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-

0

-

0

-

0

-

0

.

 

Capital & Reserves

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Called Up Share Capital

€10

-

€10

-

€10

-

€10

-

€10

P & L Account Reserve

-€249,378

-52.5%

-€163,518

22.7%

-€211,475

14.3%

-€246,884

-29.1%

-€191,212

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

-€249,368

-52.5%

-€163,508

22.7%

-€211,465

14.3%

-€246,874

-29.1%

-€191,202

 

 

Other Financial Items

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Net Worth

-€249,368

-52.5%

-€163,508

22.7%

-€211,465

14.3%

-€246,874

-29.1%

-€191,202

Working Capital

-€287,833

-36.8%

-€210,410

0.7%

-€211,853

20.1%

-€265,098

-24.3%

-€213,331

Total Assets

€329,776

9.7%

€300,598

39.4%

€215,628

183.6%

€76,033

36.8%

€55,575

Total Liabilities

€579,144

24.8%

€464,106

8.7%

€427,093

32.3%

€322,907

30.8%

€246,777

Net Assets

-€249,368

-52.5%

-€163,508

22.7%

-€211,465

14.3%

-€246,874

-29.1%

-€191,202

 

 

Miscellaneous

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

-€249,368

-52.5%

-€163,508

22.7%

-€211,465

14.3%

-€246,874

-29.1%

-€191,202

Number of Employees

-

-

-

-

-

-

-

-

-

 

 

Auditors

MOORE STEPHENS NATHANS

Auditor Comments

The audit report contains no adverse comments

Bankers

Bank Branch Code

 

 

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

0.50

0.55

0.50

0.18

0.14

Sales/Net Working Capital

-

-

-

-

-

Gearing %

0

0

0

0

0

Equity in %

-75.60

-54.40

-98.10

-324.70

-344

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.50

0.54

0.50

0.17

0.13

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

-2.32

-2.83

-2.01

-1.30

-1.29

Total Debt Ratio

-2.32

-2.83

-2.01

-1.30

-1.29

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

 

Report Notes

 

There are no notes to display.

 

Status History

 

No Status History found

 

 

Event History

 

Date

Description

14/01/2015

New Accounts Filed

23/12/2014

Annual Returns

03/12/2013

New Accounts Filed

27/11/2013

Annual Returns

18/12/2012

New Accounts Filed

27/11/2012

Annual Returns

30/01/2012

Annual Returns

06/12/2011

New Accounts Filed

01/01/2011

PAUL STIRRAT has left the board

01/01/2011

New Board Member (MARK NATHAN) appointed

04/12/2010

New Accounts Filed

27/11/2010

Annual Returns

10/11/2009

New Accounts Filed

06/11/2009

Annual Returns

07/11/2008

Annual Returns

 

 

Previous Company Names

 

No Previous Names found

 

 

Received Documents

 

Writ Details

 

No writs found

 

 

Statistics

 

Group

2 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

-

Ownership Status

Intermediately Owned

Ultimate Holding Company

PRODUCTION CHEMICAL INTERNATIONAL HOLDIN

 

 

Group structureFull

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

 PRODUCTION CHEMICAL INTE...

N/A

-

-

 PRODUCTION CHEMICAL LI...

IE422589

31.12.2013

N

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

MARK NATHAN

35

509

PAUL STIRRAT

16

13

JACQUIE DESMOND

35

1183

JACQUIE DESMOND

35

1183

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.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.63

UK Pound

1

Rs.92.94

Euro

1

Rs.68.06

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ANK

 

 

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.