MIRA INFORM REPORT

 

 

Report No. :

347554

Report Date :

02.11.2015

 

IDENTIFICATION DETAILS

 

Name :

FINGAL  MEMORIALS  AND  MONUMENTS  LIMITED

 

 

Registered Office :

Malahide Road, Balgriffin, Co  Dublin,  216410

 

 

Country :

Ireland

 

 

Financials (as on) :

30.04.2014

 

 

Date of Incorporation :

22.09.1989

 

 

Legal Form :

Private  limited  with  Share  Capital

 

 

Line of Business :

Subject is engaged in cutting,  shaping  and  finishing  of  stone

 

 

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 – 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

 

Company  Name

 

FINGAL  MEMORIALS  AND  MONUMENTS  LIMITED

 

 

Registered  Address

 

MALAHIDE ROAD, BALGRIFFIN, CO  DUBLIN,  216410

 

 

Company  Summary

 

Registered  Address

MALAHIDE  ROAD

Trading  Address

MALAHIDE  ROAD

 

BALGRIFFIN

 

BALGRIFFIN

 

CO  DUBLIN

 

CO  DUBLIN

 

216410

 

CO  DUBLIN

 

 

 

216410

Website  Address

-

 

 

Telephone  Number

 

Fax  Number

 

TPS

No

FPS

No

Incorporation  Date

22/09/1989

 

 

Previous  Name

 

Type

Private  limited  with  Share  Capital

 

 

FTSE  Index

-

Date  of  Change

-

Filing  Date  of  Accounts

-

Currency

EUR

Share  Capital

€3

SIC07

23700

Charity  Number

-

SIC07  Description

CUTTING,  SHAPING  AND  FINISHING  OF  STONE

 

 

Key  Financials

 

Year  to  Date

Turnover

Pre  Tax  Profit

Shareholder

Funds  Employees

30/04/2014

-

-

€1,125,186

-

30/04/2013

-

-

€1,027,210

-

30/04/2012

-

-

€950,877

-

 

 

Mortgage  Summary

 

Total  Mortgage

3

Outstanding

3

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.

Net  Worth  increased  by  9.5%  during  the  latest  trading  period.

A  1.4%  growth  in  Total  Assets  occurred  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

4

Total  Current  Secretaries

1

Total  Previous  Directors  /  Company

 

Secretaries

1

 

 

Current  Directors

 

Name

CATHERINE  MCGOWAN

Date  of  Birth

-

Officers  Title

 

Nationality

 

Present  Appointments

2

Function

Director

Appointment  Date

03/10/1989

 

 

Address

21 THE  COURT,  SEATOWN  PARK  SWORDS,  CO.  DUBLIN

 

Name

DEREK  J.  MCGOWAN

Date  of  Birth

-

Officers  Title

 

Nationality

 

Present  Appointments

2

Function

Director

Appointment  Date

03/10/1989

 

 

Address

 

HOMEFIELD,  ST.  DOOLAGHS,  MALAHIDE  ROAD,  BALGRIFFIN  DUBLIN  17

 

Name

GAVIN  MCGOWAN

Date  of  Birth

05/10/1938

Officers  Title

 

Nationality

 

Present  Appointments

1

Function

Director

Appointment  Date

14/12/2010

 

 

Address

 

HOMEFIELD,  MALAHIDE  ROAD,  BALGRIFFIN,  CO  DUBLIN

 

Name

COLIN  MCGOWAN

Date  of  Birth

11/09/1984

Officers  Title

 

Nationality

 

Present  Appointments

1

Function

Director

Appointment  Date

14/12/2010

 

 

Address

HOMEFIELD,  MALAHIDE  ROADBALGRIFFIN,  CO  DUBLIN

 

 

 

Current  Company  Secretary

 

Name

CATHERINE  MCGOWAN

Date  of  Birth

-

Officers  Title

 

Nationality

 

Present  Appointments

2

Function

Company  Secretary

Appointment  Date

03/10/1989

 

 

Address

21 THE  COURT,  SEATOWN  PARK  SWORDS,  CO.  DUBLIN

 

 

 

Top  20  Shareholders

 

Name

 

Currency     Share  Count

Share  Type

Nominal  Value

% of  Total  Share  Count

CATHERINE  MCGOWAN

EUR

1

ORDINARY

1.27

50

DEREK  MCGOWAN

EUR

1

ORDINARY

1.27

50

 

 

Profit  &  Loss

 

Date Of Accounts

30/04/14

(%)

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

 

Currency

EUR

(%)

EUR

(%)

EUR

(%)

EUR

(%)

 

Consolidated

A/cs

N

(%)

N

(%)

N

(%)

N

(%)

 

Wages  &

-

-

-

-

-

-

-

-

-

Salaries

 

 

 

 

 

 

 

 

 

Directors

 

 

 

 

 

 

 

 

 

Emoluments

 

 

 

 

 

 

 

 

 

Operating  Profit

-

-

-

-

-

-

-

-

-

Depreciation

€12,137

-19.5%

€15,069

475.8%

€2,617

-82.2%

€14,691

-40.6%

€24,750

Audit  Fees

-

-

-

-

-

-

-

-

-

Interest

 

 

 

 

 

 

 

 

 

 

-

-

-

-

-

-

-

-

-

Payments

 

 

 

 

 

 

 

 

 

Pre  Tax  Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit  After  Tax

-

-

-

-

-

-

-

-

-

Dividends

Payable

-

-

-

-

-

-

-

-

-

Retained  Profit

-

-

-

-

-

-

-

-

-

 

                                   

Balance  Sheet

 

 

Date Of Accounts

30/04/14

(%)

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

Tangible  Assets

€2,064,992

-0.6%

€2,077,129

2.1%

€2,033,596

-0.1%

€2,036,213

0.3%

€2,029,971

Intangible

0

-

0

-

0

-

0

-

0

Assets

 

 

 

 

 

 

 

 

 

Total  Fixed

€2,064,992

-0.6%

€2,077,129

2.1%

€2,033,596

-0.1%

€2,036,213

0.3%

€2,029,971

Assets

 

 

 

 

 

 

 

 

 

Stock

€281,330

40.9%

€199,694

6.1%

€188,188

-14.8%

€220,791

3.7%

€212,869

Trade  Debtors

€42,961

-28.4%

€59,982

72.3%

€34,820

-37.4%

€55,641

177.8%

€20,032

Cash

€260,513

-6%

€277,042

-26.7%

€377,757

39%

€271,694

-17.5%

€329,223

Other  Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous

0

-

0

-

0

-

0

-

0

Current  Assets

 

 

 

 

 

 

 

 

 

Total  Current

Assets

€584,804

9%

€536,718

-10.7%

€600,765

9.6%

€548,126

-2.5%

€562,124

Trade  Creditors

€101,685

18.1%

€86,104

27.2%

€67,666

48.4%

€45,600

-22.4%

€58,777

Bank  Loans  &

Overdrafts

0

-

0

-

0

-

0

-

0

Other  Short  Term

Finance

0

-

0

-

0

-

0

-

0

Miscellaneous

Current

Liabilities

€74,335

-23.6%

€97,292

-26.9%

€133,024

-15.5%

€157,401

12.5%

€139,882

Total  Current

Liabilities

€176,020

-4%

€183,396

-8.6%

€200,690

-1.1%

€203,001

2.2%

€198,659

Bank  Loans  &

Overdrafts  and LTL

€1,348,590

-3.9%

€1,403,241

-5.4%

€1,482,794

-2.3%

€1,518,184

-0.9%

€1,532,733

Other  Long  Term

Finance

0

-

0

-100%

€32,733

-

€32,733

-

€32,733

Total  Long  Term

Liabilities

€1,348,590

-3.9%

€1,403,241

-5.4%

€1,482,794

-2.3%

€1,518,184

-0.9%

€1,532,733

 

 

Capital  &  Reserves

 

Date Of Accounts

30/04/14

(%)

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

Called  Up  Share

Capital

€3

-

€3

-

€3

-

€3

-

€3

P  &  L  Account

Reserve

€1,125,183

9.5%

€1,027,207

8%

€950,874

10.2%

€863,151

0.3%

€860,700

Revaluation

Reserve

-

-

-

-

-

-

-

-

-

Sundry

Reserves

-

-

-

-

-

-

-

-

-

Shareholder

€1,125,186

9.5%

€1,027,210

8%

€950,877

10.2%

€863,154

0.3%

€860,703

Funds

 

 

 

 

 

 

 

 

 

 

 

Other  Financial  Items

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           

Date  Of

30/04/14

(%)

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

Accounts

 

 

 

 

 

 

 

 

 

Net  Worth

€1,125,186

9.5%

€1,027,210

8%

€950,877

10.2%

€863,154

0.3%

€860,703

Working  Capital

€408,784

15.7%

€353,322

-11.7%

€400,075

15.9%

€345,125

-5%

€363,465

Total  Assets

€2,649,796

1.4%

€2,613,847

-0.8%

€2,634,361

1.9%

€2,584,339

-0.3%

€2,592,095

Total  Liabilities

€1,524,610

-3.9%

€1,586,637

-5.8%

€1,683,484

-2.2%

€1,721,185

-0.6%

€1,731,392

Net  Assets

€1,125,186

9.5%

€1,027,210

8%

€950,877

10.2%

€863,154

0.3%

€860,703

 

 

Cash  Flow

 

Date  Of

30/04/14

(%)

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

Accounts

 

 

 

 

 

 

 

 

 

Net  Cashflow

from  Operations

-

-

-

-

-

-

-

-

-

Net  Cashflow

before  Financing

-

-

-

-

-

-

-

-

-

Net  Cashflow

from  Financing

-

-

-

-

-

-

-

-

-

Increase  in

Cash

-

-

-

-

-

-

-

-

-

 

 

Miscellaneous

 

Date  Of

30/04/14

(%)

30/04/13

(%)

30/04/12

(%)

30/04/11

(%)

30/04/10

Accounts

 

 

 

 

 

 

 

 

 

Contingent

Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital

Employed

€2,473,776

1.8%

€2,430,451

-0.1%

€2,433,671

2.2%

€2,381,338

-0.5%

€2,393,436

Number  of

Employees

 

 

 

 

 

 

 

 

 

Accountants

Auditors

COLM  WARD  &  CO

 

 

 

 

 

Auditor

 

 

 

 

 

 

 

 

 

Comments

The  audit  report  contains  no  adverse  comments

 

 

Bankers

 

 

 

 

 

 

 

 

 

Bank 

Branch Code

 

 

 

 

 

 

 

 

 

Ratio

 

Date Of Accounts

30/04/14

30/04/13

30/04/12

30/04/11

30/04/10

Pre-tax profit margin %

-

-

-

-

-

Current ratio

3.32

2.93

2.99

2.70

2.83

Sales/Net

 

 

 

 

 

Working Capital

 

 

 

 

 

Gearing %

119.90

136.60

155.90

175.90

178.10

Equity in %

42.50

39.30

36.10

33.40

33.20

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

1.72

1.83

2.05

1.61

1.75

Return On

 

 

 

 

 

Capital

Employed %

-

-

-

-

-

Return On Total

 

 

 

 

 

Assets

Employed %

-

-

-

-

-

Current Debt Ratio

0.15

0.17

0.21

0.23

0.23

Total Debt Ratio

1.35

1.54

1.77

1.99

2.01

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

 

18/03/2015

Annual  Returns

 

18/03/2015

New  Accounts  Filed

 

05/01/2015

Annual  Returns

 

14/01/2014

New  Accounts  Filed

 

13/01/2014

Annual  Returns

 

23/01/2013

New  Accounts  Filed

 

21/01/2013

Annual  Returns

 

10/01/2012

Annual  Returns

 

10/01/2012

New  Accounts  Filed

 

10/01/2012

New  Accounts  Filed

 

13/01/2011

Annual  Returns

 

13/01/2011

New  Accounts  Filed

 

14/12/2010

New  Board  Member  (COLIN  MCGOWAN)  appointed

 

14/12/2010

New  Board  Member  (GAVIN  MCGOWAN)  appointed

 

10/03/2010

Annual  Returns

 

 

PREVIOUS  COMPANY  NAMES

 

No  Previous  Names  found

 

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  Owner  Links

 

Business  Name

Business  No

Business  Status.

FINGAL  MEMORIALS  AND  MONUMENTS  LIMITED

IE149655

 

   TALLAGHT  STONE  CENTRE

329817

NORMAL

 

Mortgage  Details

 

Mortgage  Type:

A  charge  on  land,  wherever  situate,  or  any  interest  therein,  but  not  including  a  charge  for  any  rent

Date  Charge  Created:

08/10/07

Date  Charge  Registered:

23/10/07

Date  Charge  Satisfied:

-

Status:

NOT  SATISFIED

Person(s)  Entitled:

DANSKE  BANK  A/S

Amount  Secured:

 

Details:

 

All  monies  and/or  obligations  which  now  are,  or  at  any  time  may  become,  due  or  owing  to  the  security holder  by  the  company  on  any  account  and  all  the  other  liabilities  whatsoever  of  the  company  to  the security  holder  whether  actual  or  contingent  and  whether  as  principal  debtor,  guarantor,  surety  or otherwise.

Mortgage  Type:

A  charge  for  the  purpose  of  securing  any  issue  of  debentures.

Date  Charge  Created:

27/08/07

Date  Charge  Registered:

06/09/07

Date  Charge  Satisfied:

-

Status:

NOT  SATISFIED

Person(s)  Entitled:

DANSKE  BANK  A/S

Amount  Secured:

 

Details:

All  monies  and/or  obligations  which  now  are,  or  at  any  time  may  become,  due  or  owing  to  the  security holder  by  the  company  on  any  account  and  all  the  other  liabilities  whatsoever  of  the  company  to  the

security  holder  whether  actual  or  contingent  and  whether  as  principal  debtor,  guarantor,  surety  or otherwise.

Mortgage  Type:

A  FLOATING  CHARGE.

Date  Charge  Created:

01/11/96

Date  Charge  Registered:

20/11/96

Date  Charge  Satisfied:

-

Status:

NOT  SATISFIED

Person(s)  Entitled:

NATIONAL  IRISH  BANK  LIMITED

Amount  Secured:

0

Details:

ALL  SUMS  DUE  AND  OWING  OR  TO  BECOME  DUE  OR  OWING  WHETHER  FOR  PRINCIPAL  OR

INTEREST

 

 

Previous  Director/Company  Secretaries

 

Name

Current  Directorships

Previous  Directorships

BRENDAN  MCGOWAN

0

1

 

Average  Invoice  Value

 

 

 

€16154

 

Invoices  available

 

 

 

3

 

Paid

 

 

 

2

 

Outstanding

 

 

 

1

 

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

0

0

0

0

2

Outstanding

0

0

0

0

1

 

DIAMOND INDUSTRY – INDIA

 

-            From time immemorial, India is well known in the world as the birthplace for diamonds.  It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8th Century B.C.  India, in fact, remained undisputed leader till 18th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

-            The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

-            The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

-            Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

-            Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

-            Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

-            Excerpts from Times of India dated 30th October 2010 is as under –

 

-            Gem & Jewellery Export Promotion Council in its statistical data has shown the export of polished diamonds to have increase by 28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012, India exported $ 1.84 billion worth of polished diamonds in February 2013. A senior executive of GJEPC said, “Export of cut and polished diamonds started falling month-wise after the imposition of 2 % of import duty on the polished diamonds. But February, 2013 has given a new ray of hope to the industry as the export of polished diamonds has actually increased by 28 %. It means the industry  is on the track of recovery and round tripping of diamonds has stopped completely.” Demand has started coming from the US, the UK, Japan and China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.

 

-            The banking sector has started exercising restraint while following prudent risk management norms when lending money to gems and jewellery sector. This follows the implementation of Basel III accord – a global voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.22

UK Pound

1

Rs.99.93

Euro

1

Rs.71.67

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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%)

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.