MIRA INFORM REPORT

 

 

 

Report Date :

01.12.2008

 

IDENTIFICATION DETAILS

 

Name :

WILSTONE INTERNATIONAL LTD

 

 

Registered Office :

Ahtri 10b10151 Tallinn

 

 

Country :

Estonia

 

 

Financials (as on) :

2007

 

 

Year of Establishment :

2004

 

 

Com. Reg. No.:

11094990

 

 

Legal Form :

Public Joint-Stock Company

 

 

Line of Business :

Wholesale of Chemical 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 :

EUR 250.000,00

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 


name of the company

 

 

 

International Name: Wilstone International Ltd
WILSTONE INTERNATIONAL AKTSIASELTS



Principal Address

 

Ahtri 10b
10151 Tallinn
Estonia
Harjumaa
Tel: +372-6116291
Fax: +372-6116290
Email: oleg@wilstone.ee

Registered office:
Ahtri 10b
10151 TALLIN
Estonia

 

 

ICON number

 

81405040

 

National ID

 

11094990

 

VAT number

 

EE101075633

Contact with company: contacted successfully

 

 

 

 

CREDIT INFORMATION SUMMARY

 

 

 

Insolvency Information:

According to available information sources the company is not in a insolvency/preliminary/debt regulation proceeding.

 

 

Maximum Credit:

EUR 250.000,00

 

 

 

 

Payment Practices:

Payments are made according to terms

 

 

Debt Collection:

There is no record of any debt collection action against this company exceeding a single case volume of EUR 500.

 

 

COMPANY DETAILS

 

 

 

Established:

2004

 

 

Registration:

No. 11094990
30.12.2004
Country Court, TALLINN, Estonia
Harjumaa

 

 

Legal Form:

30.12.2004
Public Joint-Stock Company

 

 

Capital:

Nominal capital:

 

EEK 10.000.000,00

since 03.04.2008

 

Changed from:

EEK 400.000,00

 since 30.12.2004

 

 

Shareholders:

Full Name

Function

Address

Equity capital

KURLOKOV Oleg
Nationality: EE

Shareholder

TALLIN

100,00%

 

 

Management:

Full Name

Function

Address

KURLOKOV Oleg
Nationality: EE

Member of the executive board (signature right)

TALLIN

KUKURUZA Konstantin
Nationality: EE

Member of the supervisory board

VIIMSI

KURLOKOVA Zanna
Nationality: EE

Member of the supervisory board

TALLIN

TONISSOO Lauri
Nationality: EE

Member of the supervisory board

TALLIN

 

 

 

KEY DATA ON OPERATIONS

 

 

 

Subject of Operation:

NACE
  4675 Wholesale of chemical products


NACE codes given are based on the most recent NACE Revision 2.

 

 

Key Data:

Amounts shown in Estonian krona (EEK)

 

2007

2006

2005

2004

Sales revenue

204.927.976

46.002.101

0

0

Total non-current assets

3.198.299

1.583.008

 

 

TOTAL OWNERS' EQUITY

10.732.289

1.055.450

400.000

400.000

Liabilities

68.709.194

34.704.443

 

 

Profit after taxation

9.676.839

655.450

0

0

Operating result - profit

9.428.867

541.411

0

0

 

 

Workforce:

 

2007

Total workforce

4

 

 

Exports:

 

Asia

South America

Western Europe

 

 

 

FINANCIAL INFORMATION

 

 

 

Financials:

Amounts shown in Estonian krona (EEK) 

2007

2006

2005

2004

 



BALANCE SHEET

 

ASSETS

 

Current assets

 

Cash at bank and in hand

1.300.003,00

1.823.479,00

400.000,00

400.000,00

 

Short-term receivables

24.168.440,00

18.330.687,00

 

 

 

Inventories

50.774.741,00

14.022.719,00

 

 

 

TOTAL CURRENT ASSETS

76.243.184,00

34.176.885,00

400.000,00

400.000,00

 



Non-current assets

 

Long-term financial investments

20.000,00

 

 

 

 

Fixed assets

3.178.299,00

1.583.008,00

 

 

 

TOTAL NON-CURRENT ASSETS

3.198.299,00

1.583.008,00

 

 

 

TOTAL ASSETS

79.441.483,00

35.759.893,00

400.000,00

400.000,00

 



LIABILITIES AND OWNERS' EQUITY

 

Current liabilities

 

Short-term loans and notes

44.617.929,00

23.243.725,00

 

 

 

Debts and prepayments

5.822.949,00

4.302.747,00

 

 

 

TOTAL CURRENT LIABILITIES

50.440.878,00

27.546.472,00

 

 

 



Non-current liabilities

 

TOTAL NON-CURRENT LIABILITIES

18.268.316,00

7.157.971,00

 

 

 

TOTAL LIABILITIES

68.709.194,00

34.704.443,00

 

 

 



OWNERS' EQUITY

 

Share capital

400.000,00

400.000,00

400.000,00

400.000,00

 

Statutory reserve

40.000,00

 

 

 

 

Retained earnings (loss) of past years

615.450,00

 

 

 

 

Net profit (loss) for the current year

9.676.839,00

655.450,00

 

 

 

TOTAL OWNERS' EQUITY

10.732.289,00

1.055.450,00

400.000,00

400.000,00

 

TOTAL LIABILITIES AND OWNERS' EQUITY

79.441.483,00

35.759.893,00

400.000,00

400.000,00

 



Income statement /scheme 2/

 

Sales revenue

204.927.976,00

46.002.101,00

0,00

0,00

 

Cost of sales (goods, services)

184.112.528,00

42.718.312,00

 

 

 

Gross profit

20.815.448,00

3.283.789,00

 

 

 

Sales expenses

7.105.477,00

1.103.470,00

 

 

 

Administrative expenses

4.130.019,00

1.597.215,00

 

 

 

Other expenses

151.085,00

41.692,00

 

 

 

Operating profit (-loss)

9.428.867,00

541.411,00

0,00

0,00

 

Total financial income and expenses

247.971,00

114.039,00

 

 

 

Profit (loss) from ordinary activities

9.676.839,00

655.450,00

 

 

 

Profit (loss) before income tax

9.676.839,00

655.450,00

0,00

0,00

 

 

 

Net profit (loss) for financial year

9.676.839,00

655.450,00

0,00

0,00

 

 

Approximate Exchange Rates:

2007: 15,6466 EEK = 1 EUR
2006: 15,6466 EEK = 1 EUR
2005: 15,6466 EEK = 1 EUR
2004: 15,6466 EEK = 1 EUR
2003: 15,6466 EEK = 1 EUR
2007: 10,6382 EEK = 1 USD
2006: 11,8818 EEK = 1 USD
2005: 13,2206 EEK = 1 USD
2004: 11,4711 EEK = 1 USD
2003: 12,4096 EEK = 1 USD

 

 

Financial data source:


Auditor: Viktor Kisseljov
Date: 2007
The company is obliged by law to have its financial statements examined by an expert auditor.

 

 

Ratios:

 

2007

2006

2005

2004

Current ratio
(Short term assets / Short term liabilities)

1,51

1,24

-

-

Quick ratio
[(Short term assets - Inventory) / Short term liabilities]

0,50

0,73

-

-

Return on equity (ROE), in %
(Profit after taxation / Equity capital)*100

90,17

62,10

0

0

Return on sales ( ROS ), in%
(Profit after taxation / Sales)*100

4,72

1,42

-

-

Return on assets ( ROA ), in%
(Profit after taxation / Total assets)*100

12,18

1,83

0

0

Net working capital
Current assets - Short term liabilities

25.802.306

6.630.413

-

-

Debt-to-equity ratio
Amounts payable and liabilities / Equity

6,40

32,88

-

-

Debt Ratio
(Short term liabilities + Long term liabilities) / Total Assets

0,86

0,97

-

-

Leverage
Equity / Total assets

0,14

0,03

1

1

Sales to Total assets
Turnover / Total Assets

2,58

1,29

0

0

Current assets turnover, %
Turnover / Current assets * 100

2,69

1,35

0

0

 



ADDITIONAL INFORMATION

 

 

 

Additional information:

Mr Oleg Kurlokov, Director, confirmed general information about the company

 

 

VAT registration details:

Date of registration: 25.05.2007
Tax-payer code: EE101075633
Registr. authority: Tax Office

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.50.52

UK Pound

1

Rs.75.08

Euro

1

Rs.63.72

 

 

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.

 

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