MIRA INFORM REPORT

Report Date :

09.12.2008

IDENTIFICATION DETAILS

Name :	DISTREUROP

Registered Office :	175 BD De L Ariane 06300 Nice

Country :	France

Financials (as on) :	31.12.2006

Date of Incorporation :	February 2005

Com. Reg. No.:	RCS Nice B 480916352

Legal Form :	Limited Liability Company

Line of Business :	Wholesale Trade (Business-) Unskilled

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	(€) 34700

Status :	Small Company

Payment Behaviour :	No Complaints

Litigation :	Clear

Company Summary

Company Details
Company Number	48091635200010
Name	DISTREUROP
Telephone	04 93 54 22 79
Legal form	Limited Liability Company
RCS Registration	RCS Nice B 480916352
Share Capital	7,500
Incorporation Date	02/2005
Address	175 BD DE L ARIANE
Postcode	06300 NICE
Nationality	France

Credit Information Summary
Today's Credit Limit (€)	3,400

Judgements Summary

No judgements against this company.

Directors Summary
Directorships	1

Accounts Summary (last 3 years)
Accounts Date	31/12/2006	31/12/2005
Turnover	451,965	226,235
Networth	19,297	3,963
Number of Employees	1 or 2 employees	-

Accounts & Ratios

Profit & Loss
Account Date	31/12/2006	%	31/12/2005
Account period (month)	12	-	11
Account Type	Normal Account	-	Normal Account
Currency	Euro	-	Euro
Turnover	451,965	99.8%	226,235
Exports	0	-	0
Operating Charges	436,735	90.3%	229,539
Operating Profit	15,238	561.3%	-3,303
Financial Income	673	-	0
Financial Charges	518	121.4%	234
Pre-Tax Profit	15,393	535.2%	-3,537
Extraordinary Income	11	-	0
Extraordinary Charges	70	-	0
Net Profit	15,334	533.5%	-3,537

Balance Sheet
Account Date	31/12/2006	%	31/12/2005
Assets
- Tangible assets	0	-	0
Intangible assets	30,000	0.0%	30,000
Financial assets	0	-	0
Total fixed assets	30,000	0.0%	30,000
Stocks	85,232	90.5%	44,733
Receivables	18,657	577.5%	2,754
- Trade Receivables	13,113	-	0
- Misc. Receivables	5,544	-	2,754
Cash	3,632	28.0%	2,837
Misc. Current Assets		-	1
Total Current Assets	107,521	113.7%	50,325
Liabilities
Trade Accounts Payable	61,336	103.4%	30,152
Bank Loans and Liabilities	25,865	65.7%	15,611
Sundry Loan and Liabilities		-
Advanced Payments Received	300	-	0
Tax and Social Liabilities	3,724	560.3%	564
Miscellaneous Liabilities	27,000	-	30,036
Provisions for Risks & Charges	0	-	0
Other Capital Resources	0	-	0
Share Capital	7,500	0.0%	7,500
Revaluation Reserve	0	-	0
Other Reserves	11,797	-	-3,537
Total Shareholders Funds	19,297	386.9%	3,963

Total Assets	137,521	71.2%	80,325
Net Worth	-10,703	-	-26,037

Ratios
Account Date	31/12/2006	%	31/12/2005
Structure
Protection	14.03%		4.93%
Net Gearing	18.81%		19.43%
Repayment Power	2.17%		0
Capital Requirement	-8.00 day		-38.00 day
Working Capital Requirement	-13.00 day		-41.00 day
Net Cash	-17.00 day		-19.00 day

Performance
Return on Invested Capital	51.00%		-11.00%
Return on Equity	79.46%		-89.25%
Gross Profit	5.78% Turnover		0.04% Turnover
Growth v's Year Ago Qtr	225,730€		226,235€
Inventory Returns	0		0
Receivables Days	10.00 day		0
Payable Days	47.00 day		37.00 day

SIG
Profit	11.14% Turnover		11.87% Turnover
Gross Profit	5.78% Turnover		0.04% Turnover
Wage and Salary distribution / Gross Profit	40.95% Turnover		3,579.79% Turnover
Gross Operating Surplus	3.38% Turnover		-1.46% Turnover
Pre-tax Income	3.41% Turnover		-1.56% Turnover
Net Profit/Loss	3.39%		-1.56%

Judgements

Collective Procedures

Courts

There are no Judgements filed against this company.

Rncs

There are no Judgements filed against this company.

Bodacc

There are no Judgements filed against this company.

Preferentials Rights

No social security and tax office preferential right to date.

Group Structure

No group structure for this company.

Event history

Status history
Date	Description
04/01/2008	Economically active

Recent Publications in Gazettes
No status Gazette Publications for this company.

Company events history
Date	Description
31/12/2006	New accounts available
31/12/2005	New accounts available
14/02/2005	Private document
14/02/2005	Fund deposit certificate
14/02/2005	Company formation
14/02/2005	Articles of association

Establishment events history
Date	Description
28/09/2008	Update Limit
27/09/2008	Update Rating
16/12/2007	Update Limit
11/12/2007	Update Limit
04/09/2007	Update Limit
13/06/2007	Update of phone numbers

Directors

Director
Name	M TOMASI THIERRY	Manager position	Gérant
Date of birth	07/21/1964	Place of birth	MOULINS
Type of manager	Individual	Name at birth of manager

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.22
UK Pound	1	Rs.73.03
Euro	1	Rs.63.14

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

Establishment details
Postal Address	175 BD DE L ARIANE, 06300 NICE,
Trading Address	175 BD DE L ARIANE, 06300 NICE,
Telephone	04 93 54 22 79
Type	Head office (one site company)
Status	Economically active
Formation Date	02/2005
Reason for formation	Formation
Activity Location	Other

Workforces
Workforce at address	1 or 2 employees
Company workforce	1 or 2 employees

company details
Company Name	DISTREUROP
Company Number	48091635200010
Activity (APE)	Commerce de gros (commerce interentreprises) non spécialisé
Currency	EURO (€)
Share capital	7,500
Registration Court	Nice (06)
Legal form	Limited Liability Company
Court Registry Number	05 B 00298
Incorporation Date	02/2005
Formation Date	02/2005
Last account Date	31/12/2006
Nationality	France

MIRA INFORM REPORT

Company Summary

Company Information

Accounts & Ratios

Balance Sheet

Ratios

Judgements

Group Structure

Event history

Directors

Unit