MIRA INFORM REPORT

 

 

Report No. :

496529

Report Date :

12.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

BRANDWELL (IRL) LIMITED

 

 

Registered Office :

Unit 12 Northwest Business Park Ballycoolin 662895

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

20.11.1984

 

 

Com. Reg. No.:

IE104370

 

 

Legal Form :

LTD - Private Company Limited by Shares

 

 

Line of Business :

The importation and distribution of hosiery, handbags and other travel goods.

 

 

No. of Employees :

52

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Ireland

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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 25% in 2015. In late 2014, the government introduced a fiscally neutral budget, marking the end of the austerity program. Continued growth of tax receipts has allowed the government to lower some taxes and increase public spending while keeping to its deficit-reduction targets. In 2015, GDP growth exceeded 26%. This increase reflected one-off statistical revisions, multinational corporate restructurings, and the aircraft leasing sector, rather than gains in the on the ground economy. Growth moderated to around 4.1% in 2017, but the recovering economy assisted lowering the deficit to 0.6% of GDP.

 

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% and a talented pool of high-tech laborers have been key factors in encouraging business investment. Loose tax residency requirements made Ireland a common destination for international firms seeking to avoid taxation. In 2014, amid growing international pressure, the government announced it would phase in more stringent tax laws, effectively closing a commonly used loophole.

 

Source : CIA

 

Company name and address

 

Company Name:                                   BRANDWELL (IRL) LIMITED

 

Company No:                                        IE104370

 

Company Status:                                  Active - Accounts Filed

 

 

Registered Address:                              UNIT 12NORTHWEST BUSINESS PARKBALLYCOOLIN662895

 

 

Company Summary

 

Registered Address                              UNIT 12
NORTHWEST BUSINESS PARK
BALLYCOOLIN
662895

 

Trading Address                                  UNIT 12
NORTHWEST BUSINESS PARK
BALLYCOOLIN
DUBLIN 15
216410

 

Website Address                                  –

 

Eircode                                                D15WY24

 

VAT Number                                        IE4749002P

 

Telephone Number                               -

 

Fax Number

 

TPS                                                      -

 

FPS                                                      Yes

 

Incorporation Date                               20/11/1984

 

Previous Name

 

Type                                                     LTD - PRIVATE COMPANY LIMITED BY SHARES

 

FTSE Index                                          -

 

Date of Change                                     -

Filing Date of Accounts                        -

 

Currency                                              EUR

 

Share Capital                                       €3

 

SIC07

 

Charity Number -

SIC07 Description

 

Principal Activity                                  The importation and distribution of hosiery, handbags and other travel goods.

 

Nace Code                                            -

 

Nace Description                                  -

 

 

Additional Information

 

CJ's                                                      0 (€0)

 

No CJ Information To Display

 

Ultimate Holding Company                  BRANDWELL GROUP LIMITED

Accountant                                           -

Mortgages                                            4

Group                                                  4 companies

Linkages                                              0 companies

Countries                                             In 0 countries

 

 

Key Financials

 

Year to Date Turnover              Pre Tax Profit               Shareholder's Funds                Employees

31/12/2016        -                       €157,445                       €3,394,227                                            52

31/12/2015        -                       €187,340                       €3,264,649                                            52

31/12/2014        -                       €202,038                       €3,101,470                                            48

 

 

Mortgage Summary

 

Total Mortgage             4

Outstanding                 3

Satisfied                       1

 

 

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 73 to 84 which indicates very good creditworthiness.

The credit limit on this company has risen 7.4% in comparison to the previously suggested credit limit.

Net Worth increased by 4% during the latest trading period.

The company saw an increase in their Cash Balance of 143.7% 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

7

 

 

Current Directors

 

Title

Function

Director

Name

SEAN MAHON

Nationality

Date of Birth

01/1967

Present Appointments

11

Latest Address

GREENOGUE, KILSALLAGHAN, CO.MEATH

Appointment Date

12/02/1990

Eircode

Title

Function

Director

Name

JEFFREY MAHON

Nationality

Date of Birth

09/1970

Present Appointments

5

Latest Address

GREENOGUE, KILSALLAGHAN, CO. MEATH

Appointment Date

25/09/1998

Eircode

 

 

Current Company Secretary

 

Title

Function

Company Secretary

Name

ROBERT BARTER

Nationality

Date of Birth

08/1970

Present Appointments

3

Latest Address

GREEN ACRES, KENTSTOWN, CO. MEATH

Appointment Date

04/10/1999

Eircode

 

 

Authorised Person

 

Top Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

BRANDWELL GROUP LTD

EUR

2

ORDINARY

1.27

100

 

 

Financials

 

Profit & Loss

 

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

31/12/14

(%)

31/12/13

(%)

31/12/12

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

€4,088,703

5.2%

€3,886,086

3.6%

€3,752,282

12.7%

€3,329,398

7.8%

€3,087,443

Wages & Salaries

€1,910,158

2.8%

€1,858,150

8.3%

€1,715,969

-

-

-

-

Directors Emoluments

€128,120

-6%

€136,267

2.3%

€133,228

-

-

-

-

Operating Profit

€225,707

-8.2%

€245,830

-7.3%

€265,313

14.9%

€230,877

41.9%

€162,696

Depreciation

€119,222

4.2%

€114,433

-27.1%

€156,984

-7.6%

€169,898

-38.9%

€278,069

Audit Fees

€17,253

-8.1%

€18,768

-17.5%

€22,744

33%

€17,096

7.9%

€15,846

Interest Payments

€69,313

18.5%

€58,491

-7.6%

€63,275

-12.3%

€72,110

34.9%

€53,449

Pre Tax Profit

€157,445

-16%

€187,340

-7.3%

€202,038

27.3%

€158,767

45.3%

€109,247

Taxation

-€28,185

-16.7%

-€24,161

-17.3%

-€20,589

32.8%

-€30,617

-8.1%

-€28,333

Profit After Tax

€129,260

-20.8%

€163,179

-10.1%

€181,449

41.6%

€128,150

58.4%

€80,914

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

€129,260

-20.8%

€163,179

-10.1%

€181,449

41.6%

€128,150

58.4%

€80,914

 

 

Balance Sheet

 

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

31/12/14

(%)

31/12/13

(%)

31/12/12

Tangible Assets

€228,500

-7.3%

€246,419

-10.2%

€274,307

8%

€253,925

-32.9%

€378,347

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

€228,500

-7.3%

€246,419

-10.2%

€274,307

8%

€253,925

-32.9%

€378,347

Stock

€2,845,468

1.2%

€2,811,871

-8.4%

€3,068,278

9.5%

€2,802,073

-19.7%

€3,491,058

Trade Debtors

€1,113,025

-37.3%

€1,774,912

-24.9%

€2,362,460

-4.6%

€2,475,202

8.8%

€2,275,120

Cash

€561,762

143.7%

€230,511

-5.4%

€243,761

-17.5%

€295,447

999.9%

€3,834

Other Debtors

€1,305,909

10.5%

€1,181,903

77.7%

€665,148

8.8%

€611,277

10.6%

€552,522

Miscellaneous Current Assets

0

-

0

-100%

€4,793

-

0

-

0

Total Current Assets

€5,826,164

-2.9%

€5,999,197

-5.4%

€6,344,440

2.6%

€6,183,999

-2.2%

€6,322,534

Trade Creditors

€631,868

5.2%

€600,803

-33.2%

€899,432

-21.7%

€1,149,058

-12.7%

€1,316,152

Bank Loans & Overdrafts

€702,483

5.7%

€664,727

-46.3%

€1,238,095

-2.8%

€1,273,820

-18.9%

€1,569,812

Other Short Term Finance

€63,263

-78.9%

€300,072

1.1%

€296,793

88.4%

€157,555

-43.7%

€279,885

Miscellaneous Current Liabilities

€1,182,680

-10.6%

€1,323,516

35.1%

€979,890

10.3%

€888,190

28%

€693,710

Total Current Liabilities

€2,580,294

-10.7%

€2,889,118

-15.4%

€3,414,210

-1.6%

€3,468,623

-10.1%

€3,859,559

Bank Loans & Overdrafts and LTL

€782,626

3.4%

€756,576

-43.6%

€1,341,162

1.4%

€1,323,100

-18.3%

€1,619,263

Other Long Term Finance

€80,143

-12.7%

€91,849

-10.9%

€103,067

109.1%

€49,280

-0.3%

€49,451

Total Long Term Liabilities

€80,143

-12.7%

€91,849

-10.9%

€103,067

109.1%

€49,280

-0.3%

€49,451

.

Capital & Reserves

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

31/12/14

(%)

31/12/13

(%)

31/12/12

Called Up Share Capital

€3

-

€3

-

€3

-

€3

-

€3

P & L Account Reserve

€3,394,224

4%

€3,264,646

5.3%

€3,101,467

6.2%

€2,920,018

4.6%

€2,791,868

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

€3,394,227

4%

€3,264,649

5.3%

€3,101,470

6.2%

€2,920,021

4.6%

€2,791,871

 

Other Financial Items

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

31/12/14

(%)

31/12/13

(%)

31/12/12

Net Worth

€3,394,227

4%

€3,264,649

5.3%

€3,101,470

6.2%

€2,920,021

4.6%

€2,791,871

Working Capital

€3,245,870

4.4%

€3,110,079

6.1%

€2,930,230

7.9%

€2,715,376

10.2%

€2,462,975

Total Assets

€6,054,664

-3.1%

€6,245,616

-5.6%

€6,618,747

2.8%

€6,437,924

-3.9%

€6,700,881

Total Liabilities

€2,660,437

-10.8%

€2,980,967

-15.2%

€3,517,277

0%

€3,517,903

-10%

€3,909,010

Net Assets

€3,394,227

4%

€3,264,649

5.3%

€3,101,470

6.2%

€2,920,021

4.6%

€2,791,871

 

Cash Flow

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

31/12/14

(%)

31/12/13

(%)

31/12/12

Net Cashflow from Operations

€735,997

3.7%

€709,451

999.9%

€52,803

-

-

-

-

Net Cashflow before Financing

€541,693

-4.6%

€568,059

371.8%

-€208,986

-

-

-

-

Net Cashflow from Financing

-€248,515

-999.9%

-€7,939

-104.1%

€193,025

-

-

-

-

Increase in Cash

€293,178

-47.7%

€560,120

999.9%

-€15,961

-

-

-

-

 

Miscellaneous

Date Of Accounts

31/12/16

(%)

31/12/15

(%)

31/12/14

(%)

31/12/13

(%)

31/12/12

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

€3,474,370

3.5%

€3,356,498

4.7%

€3,204,537

7.9%

€2,969,301

4.5%

€2,841,322

Number of Employees

52

-

52

8.3%

48

-

-

-

-

Accountants

Auditors

SINNOTT HUGHES & CO

Auditor Comments

The audit report contains no adverse comments

Bankers

ALLIED IRISH BANK

Bank Branch Code

 

Ratios

Date Of Accounts

31/12/16

31/12/15

31/12/14

31/12/13

31/12/12

Pre-tax profit margin %

-

-

-

-

-

Current ratio

2.26

2.08

1.86

1.78

1.64

Sales/Net Working Capital

-

-

-

-

-

Gearing %

23.10

23.20

43.20

45.30

58

Equity in %

56.10

52.30

46.90

45.40

41.70

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

1.15

1.10

0.95

0.97

0.73

Return On Capital Employed %

4.53

5.58

6.30

5.34

3.84

Return On Total Assets Employed %

2.60

2.99

3.05

2.46

1.63

Current Debt Ratio

0.76

0.88

1.10

1.18

1.38

Total Debt Ratio

0.78

0.91

1.13

1.20

1.40

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

4.63

5.73

6.51

5.43

3.91

 

Report Notes

There are no notes to display.

 

Status History

No Status History found

 

 

Event History

 

Date

Description

23/11/2017

Annual Returns

20/11/2017

New Accounts Filed

20/11/2017

New Accounts Filed

05/12/2016

New Accounts Filed

05/12/2016

New Accounts Filed

03/12/2016

Annual Returns

27/11/2015

New Accounts Filed

27/11/2015

New Accounts Filed

26/11/2015

Annual Returns

19/11/2014

New Accounts Filed

18/11/2014

Annual Returns

30/11/2013

Annual Returns

30/11/2013

New Accounts Filed

28/11/2012

New Accounts Filed

27/11/2012

Annual Returns

 

 

Previous Company Names

 

No Previous Names found

 

 

Received Documents

 

Writ Details

No writs found

 

 

Statistics

 

Group

4 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Summary

 

Holding Company

BRANDWELL GROUP LIMITED

Ownership Status

Wholly Owned

Ultimate Holding Company

BRANDWELL GROUP LIMITED

 

 

Group StructureFull

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

 BRANDWELL GROUP LIMITED

IE283844

31.12.2016

N

 BELLEVUE PROPERTIES LI...

IE307974

31.03.2017

N

 BRANDWELL (IRL) LIMITED

IE104370

31.12.2016

N

 TREND STREET UK LTD

03888313

31.12.2016

N

 

 

Business Owner Links

 

 

Business Name

Business No

Business Status.

BRANDWELL (IRL) LIMITED

IE104370

 

 

  BRANDWELL

451444

NORMAL

 

  SYMPHONY IRELAND

83837

NORMAL

 

 

Mortgage Details

 

Mortgage Type:

A charge created or evidenced by an instrument which, if executed by an individual, would require registration as a bill of sale. A charge on book debts of the company. A floating charge on the undertakings or property of the company.

Date Charge Created:

03/10/12

Date Charge Registered:

23/10/12

Date Charge Satisfied:

-

Status:

NOT SATISFIED

Person(s) Entitled:

AIB COMMERCIAL FINANCE LIMITED

Amount Secured:

Details:

ALL MONIES, OBLIGATIONS AND LIABILITIES AT THE DATE OF THE DEED OR THEREAFTER DUE, OWING OR INCURRED BY THE CLIENT TO AIBCF WHETHERCOLLECTIVELY OR INDIVIDUALLY WHETHER SUCH MONIES, OBLIGATIONS OR LIABILITIES ARE EXPRESS OR IMPLIED, PRESENT, FUTURE, ACTUAL OR CONTINGENT, JOINT OR SEVERAL, (SEE CONTINUATION SHEET ATTACHED TO FORM C1)

Mortgage Type:

DEED OF DEBENTURE.

Date Charge Created:

30/08/00

Date Charge Registered:

15/09/00

Date Charge Satisfied:

-

Status:

NOT SATISFIED

Person(s) Entitled:

ICC-HELLER LIMITED

Amount Secured:

Details:

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

 

Mortgage Type:

DEED OF DEBENTURE.

Date Charge Created:

08/04/98

Date Charge Registered:

22/04/98

Date Charge Satisfied:

-

Status:

NOT SATISFIED

Person(s) Entitled:

ICC BANK PLC

Amount Secured:

Details:

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

Mortgage Type:

SUPPLEMENTAL DEED TO A COMPOSITE DEBENTURE.

Date Charge Created:

14/02/89

Date Charge Registered:

24/02/89

Date Charge Satisfied:

05/03/91

Status:

FULLY SATISFIED

Person(s) Entitled:

SUBSIDIARY

Amount Secured:

0

Details:

ALL SUMS DUE/TO BECOME DUE

 

Mortgage Type:

SUPPLEMENTAL DEED TO A COMPOSITE DEBENTURE.

Date Charge Created:

14/02/89

Date Charge Registered:

24/02/89

Date Charge Satisfied:

05/03/91

Status:

FULLY SATISFIED

Person(s) Entitled:

OF SCOTLAND

Amount Secured:

0

Details:

ALL SUMS DUE/TO BECOME DUE

 

 

Previous Director/Company Secretaries

 

Name

Current Active Appointments

Previous Appointments

Dissolved Companies

BRADWELL LIMITED

425

443

414

STEPHEN EDWARD OAKLEY

0

1

0

JOHN JULIAN TRISTAM CRONK

0

1

0

THOMAS GLENNANE

0

3

0

ROBERT CROWTHER

0

2

0

JOHN FOSTER BRAY HUNTER

0

1

0

DAVID FOSTER

0

2

0

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

INR 65.07

UK Pound

1

INR 89.85

Euro

1

INR 80.85

Euro

1

INR 80.11

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

DNS

 

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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.