MIRA INFORM REPORT

 

 

Report No. :

320110

Report Date :

19.05.2015

 

IDENTIFICATION DETAILS

 

Name :

PATRICK CODY LIMITED

 

 

Registered Office :

Clonkennyroscreaco Tipperary578021

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

15.08.1979

 

 

Com. Reg. No.:

IE070595

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Not Available

 

[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 :

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 – 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

 

PATRICK CODY LIMITED

 

Company No:

IE070595

 

Registered Address:

CLONKENNYROSCREACO TIPPERARY578021

 

 

Company Summary

 

Registered Address

CLONKENNY ROSCREA CO TIPPERARY 578021

Trading Address

CLONKENNY ROSCREA
CO TIPPERARY 578021

Website Address

--

 

 

Telephone Number

050543154

Fax Number

 

TPS

No

FPS

No

Incorporation Date

15/08/1979

 

 

Previous Name

--

Type

Private limited with Share Capital

FTSE Index

--

Date of Change

--

Filing Date of Accounts

--

Currency

EUR

Share Capital

€50,000

SIC07

 

Charity Number

--

 

 

SIC07 Description

--

Principal Activity

--

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employees

31/12/2013

--

--

€2,161,784

--

31/12/2012

--

--

€2,049,322

--

31/12/2011

--

--

€1,982,983

--

 

 

Mortgage Summary

 

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 exact match CCJs are recorded against the company.

The company's credit rating has increased from 86 to 91 which indicates very good creditworthiness.

Net Worth increased by 5.5% during the latest trading period.

A 7.7% growth in Total Assets occurred during the latest trading period.

The company saw an increase in their Cash Balance of 18.4% 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

3

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

0

 

 

Current Directors

 

Name

PATRICK N CODY

Date of Birth

01/11/1948

Officers Title

Nationality

Present Appointments

5

Function

Director

Appointment Date

16/08/1979

Address

CLONAKENNY, ROSCREA, CO. TIPPERARY.

 

Name

SEAMUS CODY

Date of Birth

08/11/1965

Officers Title

Nationality

Present Appointments

2

Function

Director

Appointment Date

31/08/1995

Address

HILLSIDE COTTAGE, CREEVEROE, KILLALOE, CO. CLARE.

 

Name

DESMOND CODY

Date of Birth

16/07/1972

Officers Title

Nationality

Present Appointments

1

Function

Director

Appointment Date

01/01/2005

Address

COOLE, PORTROE, NENAGH, CO. TIPPERARY

 

 

Current Company Secretary

 

Name

PATRICK N CODY

Date of Birth

01/11/1948

Officers Title

Nationality

Present Appointments

5

Function

Company Secretary

Appointment Date

01/01/1994

Address

CLONAKENNY, ROSCREA, CO. TIPPERARY.

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

PATRICK N. CODY

EUR

12,500

ORDINARY

2

50

DESMOND CODY

EUR

6,250

ORDINARY

2

25

SEAMUS CODY

EUR

6,250

ORDINARY

2

25

 

 

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

-

-

-

-

-

-

-

-

€293,419

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

€797,665

-0.8%

€804,104

-22.7%

€1,039,754

4.6%

€993,905

1.2%

€981,653

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

€797,665

-0.8%

€804,104

-22.7%

€1,039,754

4.6%

€993,905

1.2%

€981,653

Stock

€286,709

-5.2%

€302,512

-2.4%

€309,921

-3.9%

€322,446

11.2%

€289,904

Trade Debtors

€311,518

18.8%

€262,195

-7.3%

€282,932

33.7%

€211,613

-19.4%

€262,692

Cash

€878,520

18.4%

€742,187

83%

€405,518

-4.8%

€425,773

-3.4%

€440,894

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

€1,476,747

13%

€1,306,894

30.9%

€998,371

4%

€959,832

-3.4%

€993,490

Trade Creditors

€85,591

77.8%

€48,133

70.4%

€28,253

22.3%

€23,092

-65.5%

€67,000

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

€27,037

99.6%

€13,543

-49.6%

€26,889

106.4%

€13,027

-5.3%

€13,760

Total Current Liabilities

€112,628

82.6%

€61,676

11.8%

€55,142

52.7%

€36,119

-55.3%

€80,760

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

€50,000

-

€50,000

-

€50,000

-

€50,000

-

€50,000

P & L Account Reserve

€2,087,513

5.7%

€1,975,051

3.5%

€1,908,712

3.5%

€1,843,347

1.3%

€1,820,112

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

€24,271

-

€24,271

-

€24,271

-

€24,271

-

€24,271

Shareholder Funds

€2,161,784

5.5%

€2,049,322

3.3%

€1,982,983

3.4%

€1,917,618

1.2%

€1,894,383

 

 

Other Financial Items

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Net Worth

€2,161,784

5.5%

€2,049,322

3.3%

€1,982,983

3.4%

€1,917,618

1.2%

€1,894,383

Working Capital

€1,364,119

9.5%

€1,245,218

32%

€943,229

2.1%

€923,713

1.2%

€912,730

Total Assets

€2,274,412

7.7%

€2,110,998

3.6%

€2,038,125

4.3%

€1,953,737

-1.1%

€1,975,143

Total Liabilities

€112,628

82.6%

€61,676

11.8%

€55,142

52.7%

€36,119

-55.3%

€80,760

Net Assets

€2,161,784

5.5%

€2,049,322

3.3%

€1,982,983

3.4%

€1,917,618

1.2%

€1,894,383

 

 

Cash Flow

 

Date Of Accounts

31/12/13

(%)

31/12/12

(%)

31/12/11

(%)

31/12/10

(%)

31/12/09

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

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

€2,161,784

5.5%

€2,049,322

3.3%

€1,982,983

3.4%

€1,917,618

1.2%

€1,894,383

Number of Employees

-

-

-

-

-

-

-

-

-

 

 

Auditors

Auditor Comments

The company is exempt from audit

Bankers

ALLIED IRISH BANK

Bank Branch Code

93-54-92

 

 

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

13.11

21.19

18.11

26.57

12.30

Sales/Net Working Capital

-

-

-

-

-

Gearing %

0

0

0

0

0

Equity in %

95

97.10

97.30

98.20

95.90

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

10.56

16.28

12.48

17.64

8.71

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

0.05

0.03

0.02

0.01

0.04

Total Debt Ratio

0.05

0.03

0.02

0.01

0.04

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

09/12/2014

New Accounts Filed

11/11/2014

Annual Returns

19/10/2013

New Accounts Filed

12/10/2013

Annual Returns

05/11/2012

New Accounts Filed

30/10/2012

Annual Returns

10/11/2011

New Accounts Filed

08/11/2011

Annual Returns

26/11/2010

New Accounts Filed

23/11/2010

Annual Returns

29/10/2009

Annual Returns

26/10/2009

New Accounts Filed

26/10/2009

New Accounts Filed

06/11/2008

New Accounts Filed

05/11/2008

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 StructureFull

 

No Group Structure

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.55

UK Pound

1

Rs.99.86

Euro

1

Rs.72.67

 

 

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.