MIRA INFORM REPORT

 

 

Report No. :

338054

Report Date :

05.09.2015

 

IDENTIFICATION DETAILS

 

Name :

MEADOWS & BYRNE

 

 

Registered Office :

Blarney Woolen Mills Blarney Cork 999937

 

 

Country :

Ireland

 

 

Financials (as on) :

31.01.2003

 

 

Date of Incorporation :

25.06.1993

 

 

Com. Reg. No.:

IE204272

 

 

Legal Form :

Private unlimited 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 :

160 (31.01.2003)

 

 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

--

 

 

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 summary

 

Company    Number

IE204272

Company    Name

MEADOWS    &    BYRNE

 

Registered    Address

BLARNEY    WOOLEN    MILLS

BLARNEY

CORK

999937

Website    Address

-

 

 

 

Telephone    Number

0862261291

 

Incorporation    Date

25/06/1993

 

SIC07

 

 

TPS      

No

SIC07    Description

 

 

 

 

Principal    Activity

 

 

 

 

Type

Private    unlimited    with    Share    Capital

 

FTSE    Index

-

 

Share    Capital

€1,674,002

 

Currency

EUR

 

Filing    Date    of    Accounts

-

 

Accounts    Due    Date

31/10/2015

 

Charity    Number

-

Fax    Number

 

 

 

 

FPS

No

 

 

 

 

 

Additional information

 

CJ's

0    (€0)

Mortgages

12

Accountant

-

Ultimate    Holding    Company

THE BLARNEY    WOOLLEN    MILLS    GROUP

Group

13    companies

Linkages

0      companies

Countries

In    0    countries

 

 

Key financials

 

Year    to    date

31/01/2003

Turnover

-

Pre    Tax    Profit

€1,546,613

Shareholder    funds

€3,628,531

Employees

160

 

 

Commentary

 

No comments to display

 

 

Total Current Directors                           3

Total Current Secretaries                        1

Total Previous Directors / Company

Secretaries                                            7

 

 

Current Directors

 

Name

ROBERTREARDON

Date    of    Birth

22/09/1965

Officers    Title

 

Nationality

 

Present    Appointments      42

Function

Director

Appointment    Date            29/10/1993

 

 

Address

2ASHBROOK,    TERRYSLAND,    CARRIGTWOHILL,    CO.    CORK.

 

 

 

 

Name

COLINHAYES

Date    of    Birth

29/01/1957

Officers    Title

 

Nationality

 

Present    Appointments       36

Function

Director

Appointment    Date              29/10/1993

 

 

Address

'WOODLEY',    ROCHESTOWN    ROAD,    DOUGLAS,    CORK.

 

 

 

 

Name

FREDAHAYES

Date    of    Birth

01/09/1951

Officers    Title

 

Nationality

 

Present    Appointments      18

Function

Director

Appointment    Date            29/10/1993

 

 

Address

WOODLEY,    ROCHESTOWN    ROAD,    CORK

 

 

 

Current Company Secretary

 

Name

ROBERTREARDON

Date    of    Birth

22/09/1965

Officers    Title

 

Nationality

 

 

 

Function

Company    Secretary

Present    Appointments        42

 

 

Appointment    Date            29/02/1996

 

 

Address

2ASHBROOK,    TERRYSLAND,    CARRIGTWOHILL,    CO.    CORK

 

 

Top 20 Shareholders

 

 

Name

Currency

Share

Count

Share Type

Nominal Value%

% of Total Share Count

BLARNEY INVESTMENTS LTD

EUR

4,860,004

ORDINARY REDEEMABLE

0.31

90

BLARNEY INVESTMENTS LTD

EUR

540,003

ORDINARY NON

REDEEMABLE

0.31

10

BLARNEY INVESTMENT HOLDING

COMPANY

EUR

1

ORDINARY NON

REDEEMABLE

0.31

0

 

 

Profit & Loss

 

Date    Of Accounts

31/01/03

(%)

31/01/02

(%)

--

(%)

--

(%)

--

Weeks

52

(%)

 

-

-

-

-

-

-

Currency

EUR

(%)

 

-

-

-

-

-

-

Consolidated

N

(%)

 

-

-

-

-

-

-

A/cs

 

 

 

-

-

-

-

-

-

Turnover

-

-

 

-

-

-

-

-

-

Export

-

-

 

-

-

-

-

-

-

Cost    of    Sales

-

-

 

-

-

-

-

-

-

Gross    Profit

€6,403,372

13.5%

€5,642,389

-

-

-

-

-

-

Wages    & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating    Profit                

€1,606,497

47.7%

€1,087,393

-

-

-

-

-

-

Depreciation

-

-

-

-

-

-

-

-

-

Audit    Fees

-

-

-

-

-

-

-

-

-

Interest Payments

€59,884

-39.9%

€99,698

-

-

-

-

-

-

Pre    Tax    Profit

€1,546,613

56.6%

€987,695

-

-

-

-

-

-

Taxation

-€343,804

-430.2%

€104,132

-

-

-

-

-

-

Profit After Tax              

€1,202,809

10.2%

€1,091,827

-

-

-

-

-

-

Dividends Payable

€709,969

484.3%

€121,514

-

-

-

-

-

-

Retained    Profit

€492,840

-49.2%

€970,313

-

-

-

-

-

-

 

 

Balance Sheet

 

Date Of Accounts

31/01/03

(%)

31/01/02

(%)

--

(%)

--

(%)

--

Tangible Assets

€4,835,527

3.3%

€4,682,423

-

-

-

-

-

-

Intangible Assets

0

-

0

-

-

-

-

-

-

Total Fixed Assets

€4,835,527

3.3%

€4,682,423

-

-

-

-

-

-

Stock

€1,196,661

-14.3%

€1,396,384

-

-

-

-

-

-

Trade Debtors

€11,336

-26%

€15,318

-

-

-

-

-

-

Cash

€141,551

-44.5%

€255,120

-

-

-

-

-

-

Other Debtors

€1,407,964

0.4%

€1,402,136

-

-

-

-

-

-

Miscellaneous Current Assets

0

-

0

-

-

-

-

-

-

Total Current Assets

€2,757,512

-10.1%

€3,068,958

-

-

-

-

-

-

Trade Creditors

€17,392

-

0

-

-

-

-

-

-

Bank Loans & Overdrafts

€784,893

-46%

€1,453,061

-

-

-

-

-

-

Other Short Term Finance

€63,126

2.9%

€61,328

-

-

-

-

-

-

Miscellaneous Current Liabilities

€2,322,065

15.3%

€2,013,713

-

-

-

-

-

-

Total Current Liabilities

€3,187,476

-9.7%

€3,528,102

-

-

-

-

-

-

Bank Loans & Overdrafts and LTL

€1,561,925

-38.5%

€2,540,649

-

-

-

-

-

-

Other Long Term Finance

€67,980

-47.7%

€129,909

-

€129,909

-

-

-

-

Total Long Term Liabilities

€777,032

-28.6%

€1,087,588

-

-

-

-

-

-

 

 

Capital & Reserves

 

Date Of Accounts

31/01/03

(%)

31/01/02

(%)

--

(%)

--

(%)

--

Called Up Share Capital

€1,674,002

-2.3%

€1,714,149

-

-

-

-

-

-

P & L Account Reserve

€1,914,382

34.7%

€1,421,542

-

-

-

-

-

-

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

€40,147

-

-

-

-

-

-

-

-

Shareholder Funds

€3,628,531

15.7%

€3,135,691

-

-

-

-

-

-

 

 

Other Financial Items

 

Date Of Accounts

31/01/03

(%)

31/01/02

(%)

--

(%)

--

(%)

--

Net Worth

€3,628,531

15.7%

€3,135,691

-

-

-

-

-

-

Working Capital

-€429,964

6.4%

-€459,144

-

-

-

-

-

-

Total Assets

€7,593,039

-2%

€7,751,381

-

-

-

-

-

-

Total Liabilities

€3,964,508

-14.1%

€4,615,690

-

-

-

-

-

-

Net Assets

€3,628,531

15.7%

€3,135,691

-

-

-

-

-

-

 

 

Cash Flow

 

Date Of Accounts

31/01/03

(%)

31/01/02

(%)

--

(%)

--

(%)

--

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

 

Miscellaneous

 

Date Of Accounts

31/01/03

(%)

31/01/02

(%)

--

(%)

--

(%)

--

Contingent Liability

-

-

-

-

-

-

-

-

-

Capital Employed

€3,628,531

15.7%

€3,135,691

-

-

-

-

-

-

Number of Employees

160

-

-

-

-

-

-

-

-

 

Auditors

PRICE WATERHOUSE

Auditor Comments

No Adverse Comments

Bankers

ALLIED IRISH BANK

Bank Branch Code

93-63-83

 

 

Ratios

 

Date Of Accounts

31/01/03

31/01/02

-

-

-

Pre-tax profit margin %

-

-

-

-

-

Current ratio

0.87

0.87

-

-

-

Sales/Net Working Capital

-

-

-

Gearing %

43

81

-

-

-

Equity in %

47.80

40.50

-

-

-

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.49

0.47

-

-

-

Return On Capital Employed %

42.62

31.50

-

-

-

Return On Total Assets Employed %

20.37

12.74

-

-

-

Current Debt Ratio

0.88

1.13

-

-

-

Total Debt Ratio

1.09

1.47

-

-

-

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

42.62

31.50

-

-

-

 

 

Report Notes

 

There are no notes to display.

 

           

Status History

 

No Status History found

 

 

Event History

 

Date

 

Description

 

18/12/2014

Annual    Returns

28/12/2013

Annual    Returns

07/12/2012

Annual    Returns

17/11/2011

Annual    Returns

13/11/2010

Annual    Returns

12/11/2009

Annual    Returns

30/04/2009

Annual    Returns

02/01/2008

Annual    Returns

27/08/2006

KATHLEEN    MCLOUGHLIN    has    left    the    board

29/02/1996

CATHERINE    FREDA    HAYES    has    resigned    as    company    se

29/02/1996

New    Company    Secretary    (ROBERT    REARDON)    appointed

09/03/1995

LIAM    CASEY    has    left    the    board

09/03/1995

LUCY    FEIGHAN    has    left    the    board

29/10/1993

MARGARET    VON    MENSENKAMPFT    has    left    the    board

29/10/1993

RONAN    QUINLAN    has    left    the    board

 

 

Previous Company Names

 

Date

Previous    Name

N/A

MINTWOOD    LIMITED

 

 

Writ Details

 

No   writs    found

 

 

Statistics

 

Group

13    companies

Linkages

0    companies

Countries

In    0    countries

 

 

Summary

 

Holding Company

-

Ownership Status

Intermediately Owned

Ultimate Holding Company

THE BLARNEY WOOLLEN MILLS GROUP

 

 

Group structure Full

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

THE BLARNEY WOOLLEN MILL...

IE317389

31.01.2004

N

-

BLARNEY INVESTMENTS LTD

N/A

-

-

-

BA DHUN NA NGALL TEO...

IE141591

31.01.2014

N

-

BLARNEY HANDCRAFTS

IE101881

31.01.2004

N

-

BLARNEY WOOLLEN MILLS

IE025875

31.01.2003

N

-

BOHERNA PROPERTY LIM...

IE505018

31.01.2014

N

-

ZALAAL LIMITED

IE390954

31.01.2014

N

-

BUNRATTY SHOPPING VI...

IE236067

31.01.2014

N

-

HUMEDALE

IE189154

31.01.2004

N

-

IRISH CONFERENCE AND...

IE115080

31.01.2014

N

-

MEADOWS & BYRNE

IE204272

31.01.2014

N

-

MEADOWS & BYRNE MALA...

IE464169

31.01.2014

N

-

BWM PROPERTY LIMITED

IE417742

31.01.2014

N

-

 

 

Business Owner Links

 

Business Name

Business No

Business Status.

MEADOWS & BYRNE

IE204272

ROOM

535719

NORMAL

MEADOWS AND BYRNE

129582

NORMAL

SWEATER WAREHOUSE

135876

NORMAL

BUNRATTY SPRING WATER

140453

NORMAL

BUNRATTY IRISH FOODS

145788

NORMAL

SWEATER BARN

150730

NORMAL

BUNRATTY MILLS

145290

NORMAL

THE PASSIONATE COOK

304820

NORMAL

IRISH WOOLLEN MILLS

130187

NORMAL

BUNRATTY VILLAGE MILLS

151912

NORMAL

POTTERY LOFT

150731

NORMAL

BUNRATTY PARIAN CHINA

145291

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:

14/04/08

Date Charge Registered:

18/04/08

Date Charge Satisfied:

-

Status:

NOT SATISFIED

Person(s) Entitled:

ULSTER BANK IRELAND LIMITED

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 on book debts of the company.

Date Charge Created:

26/09/07

Date Charge Registered:

03/10/07

Date Charge Satisfied:

--

Status:

NOT SATISFIED

Person(s) Entitled:

ALLIED IRISH BANKS PLC

Amount Secured:

Details:

All such sums as are now or shall from time to time hereafter become owing by the Obiigors as defined in Set Off Agreement dated 26th September 2007 between Allied Irish Banks, p.l.c. and the Obligors as defined therein

Mortgage Type:

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

Date Charge Created:

22/05/07

Date Charge Registered:

28/05/07

Date Charge Satisfied:

--

Status:

NOT SATISFIED

Person(s) Entitled:

THE GOVERNOR & CO OF THE BANK OF IRELAND

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

Date Charge Created:

30/03/07

Date Charge Registered:

03/04/07

Date Charge Satisfied:

-

Status:

NOT SATISFIED

Person(s) Entitled:

THE GOVERNOR & CO OF THE BANK OF IRELAND

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

Date Charge Created:

20/03/03

Date Charge Registered:

28/03/03

Date Charge Satisfied:

--

Status:

NOT SATISFIED

Person(s) Entitled:

ALLIED IRISH BANKS PLC

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:

MORTGAGE/CHARGE.

Date Charge Created:

03/06/98

Date Charge Registered:

08/06/98

Date Charge Satisfied:

--

Status:

NOT SATISFIED

Person(s) Entitled:

ALLIED IRISH BANKS PLC

Amount Secured:

Details:

ALL SUMS NOW DUE OR HEREAFTER TO BECOME DUE FROM THE COMPANY TO THE PERSON(S) ENTITLED.

Mortgage Type:

LETTER OF UNDERTAKING FROM SOLICITORS.

Date Charge Created:

16/10/97

Date Charge Registered:

31/10/97

Date Charge Satisfied:

--

Status:

NOT SATISFIED

Person(s) Entitled:

ALLIED IRISH BANKS PLC

Amount Secured:

Details:

ALL SUMS NOW DUE OR HEREAFTER TO BECOME DUE FROM THE COMPANY TO THE PERSON(S) ENTITLED

Mortgage Type:

A MORTGAGE DEBENTURE.

Date Charge Created:

16/06/94

Date Charge Registered:

24/06/94

Date Charge Satisfied:

--

Status:

NOT SATISFIED

Person(s) Entitled:

ALLIED IRISH BANKS PLC

Amount Secured:

0

Details:

ALL SUMS NOW DUE OR HEREAFTER TO BECOME DUE FROM THE COMPANY TO THEPERSON(S) ENTITLED

Mortgage Type:

LETTER OF UNDERTAKING FROM SOLICITORS.

Date Charge Created:

10/02/94

Date Charge Registered:

15/02/94

Date Charge Satisfied:

--

Status:

NOT SATISFIED

Person(s) Entitled:

ALLIED IRISH BANKS PLC

Amount Secured:

-

Details:

ALL SUMS NOW DUE OR HEREAFTER TO BECOME DUE FROM THE COMPANY TO THE PERSON(S) ENTITLED

Mortgage Type:

LETTER OF UNDERTAKING FROM SOLICITORS.

Date Charge Created:

26/01/94

Date Charge Registered:

01/02/94

Date Charge Satisfied:

--

Status:

NOT SATISFIED

Person(s) Entitled:

ALLIED IRISH BANKS PLC

Amount Secured:

0

Details:

ALL SUMS NOW DUE OR HEREAFTER TO BECOME DUE FROM THE COMPANY TO THE PERSON(S) ENTITLED

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

CATHERINE FREDA HAYES

0

14

MARGARET VON MENSENKAMPFT

0

2

MARGARET VON MENSENKAMPFT

0

2

RONAN QUINLAN

2

1

LUCY FEIGHAN

0

2

LIAM CASEY

0

1

KATHLEEN MCLOUGHLIN

2

7

 

Average Invoice Value

€187.02

Invoices available

28

Paid

28

Outstanding

0

 

 

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

28

Outstanding

0

0

0

0

0

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.40

UK Pound

1

Rs.101.19

Euro

1

Rs.73.89

 

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

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

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NB

                                       New Business

 

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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.