MIRA
INFORM REPORT
|
Report Date : |
28th February, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
CALZADOS DESIREE S.L. |
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Registered Office : |
Avenida En Joan Carles I, 49, 03202 Elche
(Alicante) |
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Country : |
Spain |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
10.02.2005 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of footwear (mass production) |
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 |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Identification and
Characteristics
Tax Number B53973541
NAME CALZADOS
DESIREE S.L.
BUSINESS ADDRESS AVENIDA
EN JOAN CARLES I, 49
Postcode 03202
ELCHE (ALICANTE)
TELEPHONE 965458452
FAX 965458452
LEGAL FORM LIMITED
LIABILITY COMPANY
DATE FOUNDED 10/02/2005
CAPITAL 3.006,00 Euros
NUMBER OF EMPLOYEES 8
ACTIVITY 1451000 - Mfg.
of footwear (mass production)
CNAE 1930 - Manufacture
of footwear
* Characteristics
of the main address
According to our
investigations dated 27/02/2007 these premises are rented
used as factory located in a secondary park of
industries .
Synthesis
FINANCIAL
SITUATION (Year ending: 31/12/2005)
BALANCE SHEET Average
DEBT Nil
INCIDENTS
COMMITMENTS Respected
INCIDENTS None
or Negligible
PREVIOUS
EXPERIENCE
PREVIOUS EXPERIENCE Normal
Credit Appraisal
CREDIT ACCORDING
TO OBJECTIVE DATA (From 0 to 6.000.000,00 Euros):
FAVOURABLE
TOWARDS 2.001,37 Max.
Financial Elements
Figures given in Euros
Balance
sheet 2.005 (11)
BUSINESS
RESULT -221,51
OWN
FUNDS 2.784,49
TOTAL
ASSET 2.784,49
THE FIGURES FOR
THE LAST BALANCE SHEET ARE RELEVANT:
SOURCE: FROM
THE MERCANTILE REGISTER
DATE: 20/02/2007
Comparative Sector Analysis
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|
Company |
Sector |
Difference |
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|
(2.005)
|
|
|
|
% of PRODUCTION VALUE |
|
|
|
|
SALES |
|
99,64 |
-99,64 |
|
ADDED
VALUE |
|
27,87 |
-27,87 |
|
BUSINESS
RESULT |
|
1,29 |
-1,29 |
|
% OF TOTAL ASSETS |
|
|
|
|
OWN
FUNDS |
100,00 |
28,50 |
71,50 |
|
DEBT |
|
71,50 |
-71,50 |
Compared sector (CNAE): 193 - Fabricación
de calzado
Number of companies: 767
Size (Sales Figure): 0 - 2.800.000,00
Euros
The company’s own resources are
100,00% , 71,50% above the mean for the sector.
, -71,50%
Legal Actions
No legal
incidences registered for this company in the official source
No claims
registered for this company in the official sources
AFFECTED BY:
No significant elemento
Main Board members, Directors and
Auditor
|
Position |
Surname and name |
Date of
appointment |
|
SOLE ADMINISTRATOR |
MARTINEZ SANCHEZ DESIREE |
18/03/2005 |
Financial Links
|
Shareholders |
||||
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Company Name |
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Source |
Information Date |
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MARTINEZ SANCHEZ DESIREE |
|
100,00% |
OWN SOURCES |
27/02/2007 |
Proceedings published in the
B.O.R.M.E. (Official Mercantile Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Registration of accounts
(2005) |
01/09/2006 |
295520 |
ALICANTE |
|
Establishment |
18/03/2005 |
126998 |
ALICANTE |
|
Statement of unipersonality |
18/03/2005 |
126998 |
ALICANTE |
|
Appointments |
18/03/2005 |
126998 |
ALICANTE |
Remarks for customer
The company begin commercial activity in
2006.
Branches
|
Road |
Postal Code |
Town |
Province |
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DAIMES |
03294 |
ELCHE |
ALICANTE |
Bank Entities
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Entity |
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CAJA R. DEL MEDITERRANEO, RURALCAJA,
S.C.C. |
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The information on the last account
contained in this report is extracted from the Mercantile Register file of the
legal address of the Company and dated 20/02/2007
Balance Sheet (ASSETS)
|
(Figures given in Euros) |
31/12/2005 (11)
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A) DUE FROM SHAREHOLDERS FOR UNCALLED
CAPITAL |
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B) FIXED ASSETS |
2.665,22 |
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I. Establishment expenses |
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II. Intangible assets |
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III. Tangible assets |
2.665,22 |
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IV. Financial assets |
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V. Owners equity |
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VI. Long term trade liabilities |
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C) DEFERRED EXPENSES |
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D) CURRENT ASSETS |
119,27 |
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I. Not paid in shareholder capital |
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II. Inventory |
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III. Debtors |
119,27 |
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IV. Short term financial assets |
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V. Short term owners equity |
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VI. Cash |
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VII. Prepaid expenses and accrued income |
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ASSETS (A + B + C + D) |
2.784,49 |
Balance Sheet (LIABILITIES)
|
( ) |
31/12/2005 (11)
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A) SHAREHOLDERS EQUITY |
2.784,49 |
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I. Capital |
3.006,00 |
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II. Premium share account |
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III. Revaluation reserve |
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IV. Reserves |
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V. Prior year earnings |
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VI. Prior year profit or losses |
-221,51 |
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VII. Dividend paid during the year |
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VIII. Own shares for change in capital |
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B) DEFERRED INCOME |
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C) PROVISIONS FOR LIABILITIES AND EXPENSES |
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D) LONG TERM LIABILITIES |
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E) SHORT TERM LIABILITIES |
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F) SHORT TERM PROVISIONS FOR LIABILITIES
AND EXPENSES |
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LIABILITIES (A + B + C + D + E + F) |
2.784,49 |
Profit and Loss Account
|
(Figures given in Euros) |
31/12/2005 (11)
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A) EXPENSES (A.1 a A.15) |
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A.1 Operating Expenses |
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A.3. Labor cost |
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A.3. Assets depreciation |
340,78 |
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A.4. Variance in provision for current
assets |
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A.5. Other operating costs |
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A.I. OPERATING RESULT
(B.1-A.1-A.2-A.3-A.4-A.5) |
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A.6. Financial expenses |
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A.7. Variation in financial investments
provision |
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A.8. Exchange losses |
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A.II. POSITIVE FINANCIAL RESULTS
(B.2+B.3-A.6-A.7-A.8) |
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A.III. PROFIT FROM ORDINARY ACTIVITIES
(A.I+A.II-B.I-B.II) |
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A.9. Variation in provision in fixed
assets |
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A.10. Losses in fixed assets |
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A.11. Losses from shares and bonds |
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A.12. Extraordinary charges |
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A.13. Prior year’s expenses and losses |
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A.IV. POSITIVE EXTRAORDINARY RESULT
(B.4+B.5+B.6+B.7+B.8-A.9-A.10-A.11-A.12-A.13) |
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A.V. EARNINGS / LOSS BEFORE TAXES
(A.III+A.IV-B.III-B.IV) |
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A.14. Corporate Taxes |
-119,27 |
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A.15. Other taxes |
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A.VI. YEAR END RESULT (PROFIT)
(A.V-A.14-A.15) |
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B) INCOMES (B.1 a B.8) |
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B.1. Operating income |
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B.I. OPERATING LOSSES
(A.1+A.2+A.3+A.4+A.5-B.1) |
340,78 |
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B.2. Financial Income |
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B.3. Gains on exchange |
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B.II. FINANCIAL LOSSES
(A.6+A.7+A.8-B.2-B.3) |
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B.III. LOSSES FROM ORDINARY ACTIVITIES
(B.I+B.II-A.I-A.II) |
340,78 |
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B.4. Gains from disposal of fixed assets |
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B.5. Gains from dealing in own shares |
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B.6. Paid in surplus |
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B.7. Extraordinary income |
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B.8. Prior year’s income and profits |
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B.IV. EXTRAORDINARY LOSSES
(A.9+A.10+A.11+A.12+A.13-B.4-B.5-B.6-B.7-B.8) |
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B.V. LOSS BEFORE TAXES
(B.III+B.IV-A.III-A.IV) |
340,78 |
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B.VI. NET LOSS (B.V+A.14+A.15) |
221,51 |
Main Ratios
|
(Figures given in Euros) |
2.005 (11) |
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ACTIVITY |
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Increase of the Sales Figures |
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Assets Turnover |
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Productivity |
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Increase of the Added Value |
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PROFITABILITY |
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Economic Profitability |
-7,95 |
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Financial Profitability |
-7,95 |
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Financial Expenses |
|
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BALANCE (IN DAYS OF SALES) |
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Customers’ Credit (In days of sales) |
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Suppliers’ Credit (In days of sales) |
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Working Capital (In days of sales) |
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Working Capital Requirement (In days of
sales) |
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Treasury (In days of sales) |
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BALANCE |
|
|
|
Working Capital |
119,27 |
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Working Capital Requirement |
119,27 |
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Treasury |
|
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Balance Ratio |
1,05 |
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SOLVENCY |
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Borrowing Ratio |
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Own / Permanent Funds |
100,00 |
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Payback Capacity |
|
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LIQUIDITY |
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General Liquidity |
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Immediate Liquidity |
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Sectorial Analysis
Summary of Assets, Liability
& Equity
|
(Figures given in Percentages) |
Company |
Sector |
Company |
|
|
2.005 |
|
|
|
Assets |
|||
|
DUE FROM SHAREHOLDERS
FOR UNCALLED CAPITAL |
0,00 |
0,01 |
-0,01 |
|
FIXED ASSETS |
95,72 |
25,44 |
70,28 |
|
ACCRUED EXPENSES |
0,00 |
0,27 |
-0,27 |
|
CURRENT ASSETS |
4,28 |
74,28 |
-70,00 |
|
TOTAL ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS EQUITY |
100,00 |
28,50 |
71,50 |
|
ACCRUED INCOME |
0,00 |
0,59 |
-0,59 |
|
RISK AND EXPENDITURE
COVER |
0,00 |
0,02 |
-0,02 |
|
LONG-TERM CREDITORS |
0,00 |
8,44 |
-8,44 |
|
SHORT-TERM CREDITORS |
0,00 |
62,21 |
-62,21 |
|
SHORT-TERM RISK AND
EXPENDITURE COVER |
0,00 |
0,25 |
-0,25 |
|
TOTAL LIABILITIES |
100,00 |
100,00 |
0,00 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
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|
2.005 |
|
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|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
|
-13,88 |
-1,83 |
9,48 |
|
Assets Turnover |
|
1,46 |
2,08 |
2,97 |
|
Fixed Assets Turnover |
|
5,28 |
10,97 |
22,45 |
|
Increase of the Added
Value |
|
-9,92 |
0,45 |
9,60 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
|
1,12 |
1,22 |
1,38 |
|
Change of Personnel
Costs |
|
-6,57 |
2,48 |
11,79 |
|
Average Personnel Costs |
|
12.762,83 |
14.674,21 |
16.939,24 |
|
Value Added by Employees |
|
15.361,78 |
18.366,28 |
22.292,39 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
119,27 |
8.823,71 |
19.384,18 |
39.026,39 |
|
Operating Cash Flow |
0,00 |
13.522,51 |
29.363,45 |
60.920,12 |
|
Change in Cash Flow |
|
-24,40 |
-3,60 |
15,66 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
-7,96 |
1,09 |
2,20 |
4,01 |
|
Financial Profitability |
-7,96 |
5,09 |
10,18 |
17,86 |
|
Financial Expenses |
|
0,36 |
1,09 |
2,25 |
|
Gross Economic
Profitability |
|
6,62 |
10,47 |
15,59 |
|
Gross Financial
Profitability |
|
24,71 |
45,86 |
81,69 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
|
19,30 |
46,24 |
82,59 |
|
Suppliers’ Credit (In
days of sales) |
|
0,00 |
0,00 |
0,00 |
|
Working Capital (In days
of sales) |
|
-7,22 |
12,70 |
44,38 |
|
Working Capital
Requirement (In days of sales) |
|
-29,85 |
-4,93 |
19,30 |
|
Treasury (In days of
sales) |
|
4,87 |
15,31 |
37,40 |
|
Operating Current Assets |
|
79,79 |
125,12 |
180,41 |
|
BALANCE |
|
|
|
|
|
Working Capital |
119,27 |
-9.901,60 |
18.079,38 |
70.477,59 |
|
Working Capital
Requirement |
119,27 |
-55.274,95 |
-6.356,26 |
31.128,84 |
|
Treasury |
|
6.437,35 |
25.481,15 |
69.307,42 |
|
Balance Ratio |
1,04 |
0,85 |
1,42 |
3,06 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
|
58,09 |
76,86 |
87,94 |
|
Own / Permanent Funds |
100,00 |
65,26 |
94,96 |
100,00 |
|
Payback Capacity |
|
0,20 |
0,31 |
0,49 |
|
Long term Indebtedness |
|
0,00 |
1,28 |
12,50 |
|
Gearing |
100,00 |
238,62 |
432,13 |
829,19 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
|
1,11 |
1,27 |
1,69 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
|
0,95 |
1,13 |
1,47 |
|
Immediate Liquidity |
|
0,04 |
0,16 |
0,41 |
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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