MIRA INFORM REPORT

 

Report Date :

29.05.2007

 

IDENTIFICATION DETAILS

 

Name :

PERFECT DESIGNS

 

 

Registered Office :

Hoveniersstraat 9 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

08 March 1991

 

 

Com. Reg. No.:

282082

 

 

Legal Form :

Private company with limited liability

 

 

Line of Business :

Wholesale of miscellaneous intermediate products

 

 

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

 

Maximum Credit Limit :

84500 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

name & address

 

PERFECT DESIGNS

HOVENIERSSTRAAT 9

2018 ANTWERPEN BE

Tel. Number       +32-3-2340560

Fax number       +32-3-2340781

 

 

Business founded

08 March 1991

Business registered

20 March 1991 - Private company with limited liability

Registration number,

282082, ANTWERPEN,

VAT number,

BE443341864,

Legal form

Private company with limited liability

Activities

Wholesale of miscellaneous intermediate products

Payment experience

no complaints have been registered

Credit opinion

Credit opinion

 

Maximum credit limit 84500 EUR is advised

 

Cash situation (balance sheet analysis) : Normal 

 

Profitability (balance sheet analysis) : Low 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Employees (Business)

 1

Total share capital31 December 2005

EUR 19000,00

Bank

ABN AMRO BANK   

Boardmembers

PARIKH NAYSAR    Manager

Management

DEWAELE FRANS    Representative and auditor

Auditor

DEWAELE FRANS BEDRIJFSREVISOR    Auditors´ president

 

 

 

 

The business owns or partly owns one or more pieces of land and buildings?  Yes(Property) 

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 26.961.000,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

8.144.000,-

Total fixed assets

111.000,-

Total tangible fixed assets

110.000,-

Land and buildings

90.000,-

Plant, machinery and equipment

6.000,-

Total financial fixed assets

1.000,-

Investments (long-term)

1.000,-

Total Current assets

8.033.000,-

Inventories and work in progress (incl. prepayments)

2.291.000,-

Accounts receivable (trade)

5.730.000,-

Cash in hand and at bank

9.000,-

Total accrued income and prepaid expenses

3.000,-

Total equity, provisions, liabilities, accrued expenses and deferred income

8.144.000,-

Total equity (Shareholders' funds)

258.000,-

Issued (subscribed) capital

19.000,-

Legal reserves

1.000,-

Profit or loss carried forward

238.000,-

Total liabilities

7.886.000,-

Total long-term liabilities

636.000,-

Long-term Loans, Mortgage debts

636.000,-

Total current liabilities

7.250.000,-

Current accounts payable (trade)

3.666.000,-

Current liabilities to credit institutions

2.867.000,-

Income and social tax liabilities

11.000,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2005  in  EUR 

Total operating income/revenue

26.968.000,-

Main revenue (sales/turnover)

26.961.000,-

Total operating expenses

-26.640.000,-

Cost of materials (type of expenditure format)

26.354.000,-

Cost of goods sold (operational format)

26.640.000,-

Gross profit or loss after cost of materials or after cost of goods sold

328.000,-

Personnel costs

34.000,-

Depreciation

13.000,-

Operating profit or loss

328.000,-

Financial income

14.000,-

Financial expenses

-288.000,-

Result of ordinary operations

54.000,-

Extraordinary income

11.000,-

Extraordinary result

65.000,-

Taxes

-20.000,-

Net profit or loss

45.000,-

Borrowing ratio

3056,59 %

Current ratio

110,80 %

Debt gearing

246,51 %

Profit margin.

1,26 %

Quick ratio

79,15 %

Return on assets

4,16 %

Return on equity.

17,44 %

Solidity or equity ratio

3,16 %

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 0,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

4.423.516,-

Total fixed assets

121.253,-

Total tangible fixed assets

120.359,-

Land and buildings

93.244,-

Plant, machinery and equipment

5.519,-

Total financial fixed assets

894,-

Total Current assets

4.302.263,-

Inventories and work in progress (incl. prepayments)

816.788,-

Accounts receivable (trade)

3.466.836,-

Cash in hand and at bank

18.639,-

Total equity, provisions, liabilities, accrued expenses and deferred income

4.423.516,-

Total equity (Shareholders' funds)

213.603,-

Issued (subscribed) capital

18.592,-

Legal reserves

1.859,-

Profit or loss carried forward

193.152,-

Total liabilities

4.209.913,-

Total long-term liabilities

550.620,-

Total current liabilities

3.659.293,-

Current accounts payable (trade)

1.187.205,-

Current liabilities to credit institutions

1.759.257,-

Income and social tax liabilities

8.542,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2004  in  EUR 

Cost of goods sold (operational format)

53.701,-

Gross profit or loss after cost of materials or after cost of goods sold

-53.701,-

Personnel costs

29.499,-

Depreciation

19.591,-

Operating profit or loss

170.678,-

Financial income

5,-

Financial expenses

-121.242,-

Result of ordinary operations

49.441,-

Extraordinary income

2.500,-

Extraordinary result

51.941,-

Taxes

-17.501,-

Net profit or loss

34.440,-

Borrowing ratio

1970,91 %

Current ratio

117,57 %

Debt gearing

257,78 %

Quick ratio

95,24 %

Return on assets

4,35 %

Return on equity.

16,12 %

Solidity or equity ratio

4,82 %

 

Turnover for the period: 00 0000 - 31 December 2003  in  EUR 0,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2003  in  EUR 

Total assets incl. prepaid expenses and accrued income

1.170.043,-

Total fixed assets

105.903,-

Total tangible fixed assets

105.209,-

Land and buildings

96.570,-

Plant, machinery and equipment

3.578,-

Total financial fixed assets

694,-

Total Current assets

1.064.140,-

Inventories and work in progress (incl. prepayments)

383.972,-

Accounts receivable (trade)

662.250,-

Cash in hand and at bank

17.918,-

Total equity, provisions, liabilities, accrued expenses and deferred income

1.170.043,-

Total equity (Shareholders' funds)

179.163,-

Issued (subscribed) capital

18.592,-

Legal reserves

1.859,-

Profit or loss carried forward

158.712,-

Total liabilities

990.880,-

Total current liabilities

990.880,-

Current accounts payable (trade)

32.125,-

Current liabilities to credit institutions

248.061,-

Income and social tax liabilities

4.250,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2003  in  EUR 

Cost of goods sold (operational format)

23.110,-

Gross profit or loss after cost of materials or after cost of goods sold

-23.110,-

Personnel costs

12.424,-

Depreciation

7.691,-

Operating profit or loss

102.901,-

Financial income

26,-

Financial expenses

-67.567,-

Result of ordinary operations

35.360,-

Extraordinary result

35.360,-

Taxes

-7.775,-

Net profit or loss

27.585,-

Borrowing ratio

553,06 %

Current ratio

107,39 %

Quick ratio

68,64 %

Return on assets

9,45 %

Return on equity.

15,39 %

Solidity or equity ratio

15,31 %

 

 

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