MIRA INFORM REPORT

 

 

Report Date :

24.02.2011

 

IDENTIFICATION DETAILS

 

Name :

FROCONSUR B.V.

 

 

Registered Office :

8911AX Leeuwarden, Willemskade 11

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

07.12.1986

 

 

Com. Reg. No.:

01076844

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Wholesale of Fish

 

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 :

€ 100.000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Netherlands

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

CONTACTINFORMATION

 

Company name

Froconsur B.V.

Tradename

Froconsur B.V.

Address

Willemskade 11

 

8911AX Leeuwarden

 

Netherlands

Mail address

Postbus 3012

 

8901DA Leeuwarden

 

Netherlands

Telephone number

0582160057

Telefax number

0582160058

E-mail address

info@froconsur.com

Website

www.froconsur.com

 

 

CREDIT LIMIT

 

A credit of € 100.000 may be granted Normal

 

 

COMPANY INFORMATION

 

Handels Register Number

01076844

Registered in

Chamber of commerce Noord-Netherlands

First registration

10-01-1997

Act of foundation

19-12-1996

Date of constitution

07-12-1989

Continuation date

19-12-1996

Legal form

Besloten Vennootschap (Limited Company)

Place of constitution

Leeuwarden

Capital

EUR 226.890,11

Issued capital

EUR 45.378,02

Paid up capital

EUR 45.378,02

 

NACE-code                   Wholesale of fish (51382)

SBI-code                       Wholesale of fish (46382)

Formal objective De im- en export van levensmiddelen en diepvriesproducten.

 

Employees Total: 17

 

 

Bookyear                                                                     2011                 2009                 2008    

Number                                                                         17                     17                     16

Change                                                                         0,00%               6,25%               33,33%

 

 

COMPANY STRUCTURE

 

Shareholder                   Froconsur Holding B.V.

Willemskade 11

8911AX LEEUWARDEN

Netherlands

KvK: 01059154

Active since: 20-12-2007

Percentage: 100.00%

 

Holding company           Froconsur Holding B.V.

Willemskade 11

8911AX LEEUWARDEN

KvK: 01059154

 

 

Affiliated companies       Froconsur Overseas B.V.

Oostergoweg 1

8911MA LEEUWARDEN

KvK: 01069106

 

Latido Leeuwarden B.V.

Oostergoweg 1

8911MA LEEUWARDEN

KvK: 01076845

 

Froconsur Logistics B.V.

Oostergoweg 1

8911MA LEEUWARDEN

KvK: 01079666

 

Liability declaration        Froconsur Holding B.V. (01059154)

Willemskade 11 8911AX LEEUWARDEN

Bankers Rabobank Netherlands

Hollandsche Bankers-Unie NV

 

MANAGEMENT

 

Management

Froconsur Holding B.V.

 

Willemskade 11

 

8911AX LEEUWARDEN

 

Netherlands

 

KvK: 01059154

 

Authorization: Fully authorized

 

Position: Manager

 

Date appointed: 19-12-1996

 

J.A. Boschma

 

Josephina Annigjen

 

Authorization: Limited authorization

 

Position: Proxy

 

Date appointed: 01-01-2001

 

Date of birth: 31-03-1954

 

 

PAYMENT INFORMATION

 

Payment experiences                 Payments are slightly delayed

Payments                                 Based on multiple payment experiences up to € 50.000

Quarter: 22010: 132 Average days

Quarter: 3 2010: 43 Average days

Quarter: 4 2010: 53 Average days

Quarter: 1 2011: 53 Average days

 

 

invoices

current quarter

2010

Q4

2010 Q3

2010 Q2

Total

48

100%

98.889

99.313

88.719

28.122

Within terms

24

35,4%

34.963

34.203

53.204

28.122

Delayed 0 - 30

17

64,6%

63.926

65.110

35.515

 

Delayed 31 - 60

 

 

 

 

 

 

Delayed 61 - 90

7

0,0%

 

 

 

 

Delayed 91 - 120

 

 

 

 

 

 

 

 

FINANCIAL INFORMATION

 

Auditor                          PricewaterhouseCoopers N.V.

 

 

Auditor's report              According to the auditor, the annual account gives a faithful description of the size and composition of the company.

 

Type of publication          Consolidated

 

Annual accounts van      Froconsur Holding B.V.

Willemskade 11

8911AX LEEUWARDEN

KvK: 01059154

 

Publication                    Publication according to obligations by law

 

 

CORE FIGURES

 

BOOKYEAR

2009

2008

2007

Quick ratio

1,54

1,40

1,12

Current ratio

1,69

1,65

1,42

Nett workingcapital / Balance

0,40

0,39

0,29

total

 

 

 

Capital and reserves / Balance

0,40

0,39

0,29

total

 

 

 

Capital and reserves / Fixed

29,23

24,40

19,84

assets

 

 

 

Solvency

0,69

0,65

0,43

Nett workingcapital

4.198.626

4.061.196

3.596.000

Capital and reserves

4.209.782

4.049.623

3.610.000

Change capital and reserves

3,95%

12,18%

-17,56%

change short term liabilities

-2,09%

-26,95%

-15,21%

Operating profit

522.818

906.426

869.000

Nett Turnover

 

 

23.906.000

 

Annual accounts            The published financial information is the consolidated group information.

 

Last annual accounts     2009

 

Type of publication consolidated

 

Turnover                        2007: 23.906.000

2006: 34.027.000

2005: 36.642.000

 

Gross profit                   2007: 2.334.000

2006: 2.471.000

2005: 3.583.000

 

Operating profit              2007: 869.000

2006: 586.000

2005: 809.000

 

Result after taxes           2007: -616.000

2006: 70.000

2005: 1.110.000

 

Tendency Constant

Tendency capital and reserves

 

6M

 

 

 

4M

 

 

 

 

 

 

 

zn

 

 

 

 

 

 

 

 

 

0

 

 

i

 

i

 

i

 

i

 

2006

2007

2008

2009

 

Capital and reserves       2009 4.209.782

Total debt                      2009 6.204.914

Current ratio                  2009 1,69

Quick ratio                    2009 1,54

Nett working capital        2009 4.198.626

 

Profitability                    Positive

Solvency                       Positive

Liquidity                        Sufficient

 

Current- & Quick ratio

 

2

 

 

 

 

 

1

 

 

 

 

 

 

 

 

 

0

 

 

i

 

1

 

i

 

 

 

2006

2007

2003

2009

 

 

BALANCE

 

 

 

 

 

 

2009

2008

2007

End of bookyear

31-12-2009

31-12-2008

31-12-2007

Other tangible assets

144.024

 

 

Tangible assets

144.024

165.958

182.000

Fixed assets

144.024

165.958

182.000

 

Stocks and work in progress

949.087

1.558.655

2.615.000

Trade debtors

7.741.727

7.778.290

 

Other amounts receivable

1.578.306

925.624

 

Accounts receivable

9.320.033

8.703.914

9.470.000

Liquid assets

1.552

514

1.000

Current assets

10.270.672

10.263.083

12.086.000

Total assets

10.414.696

10.429.041

12.268.000

 

Capital and reserves

4.209.782

4.049.623

3.610.000

Provisions

132.868

177.531

166.000

other long term debts

 

0

 

Long term liabilities

 

O

2.000

Debts to credit institutions

5.427.735

5.802.216

 

Other short term debts

644.311

399.671

 

Total short term debt

6.072.046

6.201.887

8.490.000

Total debt

6.204.914

6.379.418

8.658.000

Total Liabilities

10.414.696

10.429.041

12.268.000

 

PROFIT & LOSS ACCOUNT

 

 

 

BOOKYEAR

2009

2008

2007

Turnover

 

 

23.906.000

Nett Turnover

 

 

23.906.000

Cost of sales

 

 

21.572.000

Gross profit

2.141.299

2.331.499

2.334.000

Wages employees

 

 

771.000

Sales costs

143.109

183.210

 

Other operating charges

1.475.372

1.241.863

694.000

Operating charges

1.618.481

1.425.073

23.037.000

Operating profit

522.818

906.426

869.000

Financial income

0

0

 

Financial charges

55.517

338.470

515.000

Financial Result

-55.517

-338.470

-515.000

Result Participations

 

 

-886.000

Result before taxes

467.301

567.956

-532.000

Income taxes

107.142

128.090

84.000

Result after taxes

360.159

439.866

-616.000

Nett result

360.159

439.866

-616.000

Income Attributable to minority

 

 

46.000

Interest

 

 

 

COMPANY STRUCTURE

 

 Froconsur Holding B.V. (01059154)

 

LEEUWARDEN

 

Froconsur Overseas B.V. (01069106)

LEEUWARDEN

Subsidiary

Froconsur B.V. (01076844)

Leeuwarden

Subsidiary

Latido Leeuwarden B.V. (01076845)

LEEUWARDEN

Subsidiary

Froconsur Logistics B.V. (01079666)

LEEUWARDEN

Subsidiary

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.20

UK Pound

1

Rs.73.16

Euro

1

Rs.61.88

 

 

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

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

----

NB

New Company

----

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.