MIRA
INFORM REPORT
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Report Date : |
27th January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
GORGOGLIONE S.R.L. |
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Registered Office : |
Via Olmetto, 10 20100 - Milano (MI) -IT- |
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Country : |
Italy |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
01/07/2004 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale of watches, clocks and jewellery. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
3.600 .Eur. |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Name & Address
Gorgoglione S.r.l.
Via Olmetto, 10
20100 - Milano (MI) -IT-
SUMMARY
Fiscal Code : 04474800960
Legal Form : Limited liability company
Establishment Date : 01/07/2004
Patrimonial Consistence : 100.000 Eur
Turnover Range : 500.000/750.000 Eur
Number of Employees : fom 6 to 10
CREDIT ANALYSIS
CREDIT OPINION : 3.600 - Eur
Score : 3. Risk medium
Creditworthness Rate : 16% (Scanty)
n.b.: The
Creditworthness Rate shows, in percentage, the ratio between the suggested
credit opinion and the credit amount that the firm could get if the financial
situation would be completely positive.
ACTIVITY
Wholesale of watches, clocks and jewellery.
LEGAL DATA
Legal Form :
Limited Liability Company
Fiscal Code :
04474800960
Foreign Trade Reg. no. :
MI349098 since 19/05/2005
Chamber of Commerce no. :
1750398 of Milano since 14/07/2004
V.A.T. Code
: 04474800960
Establishment Date
: 01/07/2004
Legal Duration Date
: 31/12/2030
Nominal Capital : 80.000 Eur
Subscribed Capital : 80.000 Eur
Paid up Capital : 80.000 Eur
MEMBERS
Gorgoglione Savino
Born in Varese on 28/04/1976 - Fiscal Code :
GRGSVN76D28L682W
Residence : Viale G. Matteotti , 20 - 21045
Gazzada Schianno (VA)- IT -
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Position |
Since |
Shares
Amount |
%
Ownership |
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Sole Director |
27/07/2005 |
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No Protests registered.
COMPANIES CONNECTED TO MEMBERS *
*checkings have been performed on a national scale.
The Members of the subject firm are not reported to be Members in
other companies.
CAPITAL SHAREHOLDERS
|
Style
/ Name |
Seat
/ Address |
Fiscal
Code |
Owned
Shares |
% of
Ownership |
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Gorgoglione Savino |
Gazzada Schianno - IT
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GRGSVN76D28L682W |
20.000 .Eur |
25,00 |
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Gorgoglione Francesca
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GRGFNC74D42F205E |
20.000 .Eur |
25,00 |
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Gorgoglione Maria
Sterpeta |
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GRGMST75C46L682T |
20.000 .Eur |
25,00 |
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Gorgoglione
Elisabetta |
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GRGLBT85R43L682D |
20.000 .Eur |
25,00 |
DIRECT PARTICIPATIONS
The Company under review has no participations in other Companies.
STRUCTURE AND COMPANY ACTIVITY
In order to carry out its activities the firm uses the following
locations:
- Legal and operative seat in :
Via Olmetto , 10 -
20100 - Milano (MI) -
IT -
Employees : 5
Assistants : 1
Fittings and
Equipment for a value of 369.000 Eur
Stocks for a value of 111.038 Eur
PAYMENTS ANALYSIS
The average term of debts to suppliers is higher than the sector
one.
PAYMENTS SCORE : ZZZZZ - No insolvency
CREDIT REVOLVING
The subject of inquiry has been monitored by our company:
During the last Month : n. 2 times.
During the last 6 Months : n. 2 times.
During the last 12 Months : n. 2 times.
PROTESTS
Protests checking on the subject firm has given a negative result.
LEGAL PROCEDURES
None reported, standing to the last received edition of the
Official Publications.
IMMOVABLES *
*No specific (mortgage/cadastrial registrations) inspections have
been requested.
None reported in the name of the Firm.
FINANCIAL AND ECONOMICAL ANALYSIS
Subject under review started the activities in 2004.
Unstable economic results mark the company's financial state of
affairs. yet with a positive result in the 2005 (r.o.e. 1,92%).
The return on Investment in the last financial year was positive
(4,96%) falling within the field's average.
Short-term debts volume if compared to net worth, as it comes out
from the total indebtedness (9,28) which is anyway decreasing.
Financial indebtedness is considered fair whereas the recourse to
commercial borrowings is high and higher than sector's average.
Liquidity is however good.
FINANCIAL DATA
Complete balance-sheet for the year as at 31/12/2005 (in Eur x 1 )
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Item
Type |
Amount |
Source |
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Sales |
736.548 |
filed balance sheet |
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Profit (Loss) for the
period |
1.645 |
filed balance sheet |
Complete balance-sheet for the year as at 31/12/2004 (in Eur x 1 )
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Item
Type |
Amount |
Source |
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Profit (Loss) for the
period |
-109 |
filed balance sheet |
BALANCE SHEETS
From our constant monitoring of the Public Administration,
actually, no more recent balance sheets result to be filed.
Balance Sheet as at 31/12/2005 -
Months 12 - Currency Eur - Amounts x 1
Balance Sheet as at 31/12/2004 -
Months 12 - Currency Eur - Amounts x 1
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Years |
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2005 |
2004 |
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. BALANCE SHEET
ACCOUNTS |
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ASSETS
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CREDITS TO
SHAREHOLDERS |
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FIXED ASSETS ( NET ) |
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15.228 |
3.200 |
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. Intangible assets |
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2.560 |
3.200 |
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. Tangible fixed assets |
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118 |
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. . Land and
buildings |
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. . Plants,
Equipm.and Machinery |
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. Long-term
Investments |
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12.550 |
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. . Financial loans |
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12.550 |
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. . Own shares |
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CURRENT ASSETS |
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866.521 |
80.391 |
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. Stock |
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368.774 |
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. Credits |
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497.682 |
195 |
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. . Credits to clients |
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401.930 |
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. . Other credits |
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95.752 |
195 |
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. Short-term
financial assets |
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. Liquid assets |
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65 |
80.196 |
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ACCRUED
INCOME-DEFERR. ASSETS |
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TOTAL ASSETS |
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881.749 |
83.591 |
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. |
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LIABILITIES
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NET WORTH |
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85.237 |
83.591 |
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. Company's capital |
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80.000 |
80.000 |
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. Reserves |
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3.701 |
3.700 |
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. Reserves company's
own shares |
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. Retained profits
(losses) |
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-109 |
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. Profit (loss) |
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1.645 |
-109 |
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PROVISION CHARGES
ACCOUNTS |
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STAFF TERM INDEMNITY |
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4.869 |
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DEBTS |
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791.643 |
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. Financial M/L terms |
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. . Financial M/L
term banks |
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. . Financial M/L
bonds |
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. . Other financial
M/L debts |
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. Financial
short-term debts |
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213.116 |
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. . Financial
short-term banks |
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192.116 |
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. . Financial
short-term bonds |
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. . Other financial
short-term debts |
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21.000 |
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. M/L term debts to
suppliers |
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. Short-term debts to
suppliers |
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500.501 |
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. Sundry M/L debts |
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. Sundry short-term
debts |
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78.026 |
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ACCRUED COSTS DEFERR.
LIABILITIES |
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TOTAL LIABILITIES |
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881.749 |
83.591 |
PROFIT AND LOSS ACCOUNTS
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OUTPUT VALUE |
736.548 |
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. Revenues from sales/services |
736.548 |
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. Change of stock
(products) |
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OPERATING EXPENSES |
692.763 |
310 |
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. Purchasing expenses |
766.288 |
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. Change of stock
(raw material) |
-368.774 |
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. Expenses from
services |
59.811 |
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. Expenses from
leasing |
50.000 |
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. General
expenses/sundry charges |
994 |
310 |
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. Staff expenses |
183.033 |
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Depreciation/Devaluation costs |
1.411 |
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FINANCIAL REVENUES
(CHARGES) |
-22.072 |
201 |
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. Financial charges |
-22.080 |
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. Financial revenues |
8 |
201 |
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FINANCIAL ASSETS
CORRECTION |
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EXTRAORDINARY
FINANCIAL REVENUES (CHARGES) |
-3.277 |
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PROFIT (LOSS) FOR THE
PERIOD |
18.436 |
-109 |
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TAX |
16.791 |
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CORRECT./ALLOCAT.
FISCAL RULE |
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NET PROFIT (LOSS) |
1.645 |
-109 |
RATIOS
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Item |
O.V. |
O.V. |
as at 31/12/2005 |
as at 31/12/2004 |
Sector Average |
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Fixed assets ratio |
Units |
=> 1 |
l |
5,91 |
26,12 |
2,53 |
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Net Short-term
indebtedness |
Units |
- 1 |
l |
9,28 |
n.c. |
4,82 |
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Current ratio |
Units |
=> 1 |
l |
1,09 |
n.c. |
1,16 |
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Acid Test
Ratio-Liquidity Ratio |
Units' |
=> 1 |
l |
0,62 |
n.c. |
0,86 |
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Return on Sales |
% |
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l |
0,41 |
n.c. |
1,93 |
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Average stock waiting
period |
dd |
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l |
180,21 |
n.c. |
54,54 |
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Credits to clients
average term |
dd |
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l |
196,41 |
n.c. |
120,63 |
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Debts to suppliers
average term |
dd |
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l |
205,63 |
n.c. |
140,00 |
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Net financial
revenues/ charges incidence |
% |
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l |
- 2,99 |
n.c. |
- 0,85 |
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Labour cost incidence |
% |
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l |
24,85 |
n.c. |
7,30 |
O.V. = Optimal Value. When not present refer to the sector's.
A coloured item indicates the opinion of the rate during the last
financial year
(green=good; orange=not optimal; red=insufficient; n.c.=not
computable)
CREDIT OPINION DETERMINATION
The credit opinion determination is divided into two phases :
1) Risk analysis (Score).
2) Reliability score identification.
RELIABILITY SCORE
Considering also subject's structural and behavioural
characteristics its credit margin rate (from 0 to 100%) is equal to 16%, in respect
of a sector average of 40%.
CREDIT OPINION
On the basis of the above mentioned, and the sales volume
obtained, we deem that the maximum exposure for short and medium term
transactions ( 90 - 120 days ) could be of:
3.600 .Eur.
REMARKS
1) Protests checking (relative to the last five years) performed
by crossing and matching the members names and the Firm's Style with the
reported addresses, is supplied by the Informatic Registry managed by the
Italian Chamber of Commerce. If the fiscal code is not indicated, the eventual
homonymous cases are submitted to expert staff evaluation in order to limit
wrong matching risks.
2) The Legal Data, supplied and retrived from the Firm's Registry
of the Italian Chamber of Commerce, are in line with the last registered
modifications.
SOURCES
- Our historical data
- Public Administration
- Reporters
- Newspapers
- Users
- Statistics Bodies
- Financial Project Editions
N.B.: Data from the Public Administration present in the
report are updated since the last available edition.
MARKET / TERRITORY DATA
Population living in the province : 3.839.216
Population living in the region : 9.393.092
Number of families in the region : 3.858.736
Monthly family expences average in the region (in Eur.) :
- per food products : 460
- per non food products : 2.090
- per energy consume : 114
SECTOR DATA
The values are calculated on a base of 1.980 significant
companies.
The companies cash their credits on an average of 120 dd.
The average duration of suppliers debts is about 140 dd.
The sector's profitability is on an average of 1,93%.
The labour cost affects the turnover in the measure of 7,30%.
Goods are held in stock in a range of 54 dd.
The difference between the sales volume and the resources used to
realize it is about 1,46.
The employees costs represent the 7,41% of the production costs.
STATISTICAL DETRIMENTAL DATA
Statistcally the trade activity shows periods of crisis.
The area is statistically considered lowly risky.
In the region 50.886 protested subjects are found; in the province
they count to 24.765.
The insolvency index for the region is 0,55, while for the
province it is 0,66.
Total Bankrupt companies in the province : 22.523.
Total Bankrupt companies in the region : 39.612.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists.
Caution needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of
information, we have no basis upon which to recommend credit dealings |
No Rating |
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