MIRA INFORM REPORT

 

 

Report Date :

22.07.2011

 

IDENTIFICATION DETAILS

 

Name :

FRONTLINE HANDELS UND SERVICE GMBH

 

 

Registered Office :

Werkstr. 11  D 21218 Seevetal

 

 

Country :

Germany

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

16.12.1999

 

 

Com. Reg. No.:

HRB 110903

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Non-specialized wholesale trade

 

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 :

23,000 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Germany

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address

 

Frontline Handels und Service GmbH

 

Company Status:      active

 

Main address:      

Werkstr. 11

D 21218 Seevetal

Telephone:04105/61050

 

 

Registration data

 

LEGAL FORM                Private limited company

Date of foundation:         16.12.1999

Shareholders'

agreement:                    16.12.1999

Registered on:               24.01.2000

Commercial Register:     Local court 21335 Lüneburg

under:                                       HRB 110903

 

 

Share capital                      

 

EUR             26,000.00

 

 

Shareholder

 

Christian Ließ

Am Sunder 21

D 21224 Rosengarten

born: 20.07.1943

Share:             EUR             26,000.00

 

Manager

 

Christian Ließ

Am Sunder 21

D 21224 Rosengarten

having sole power of representation

born: 20.07.1943

Profession: Businessman

Marital status: married

 

 

Further functions/participations of Christian Ließ (Manager)

 

Limited partner:

BULL-JAX Vertriebs GmbH & Co. Produktions KG

Goldbornstr. 1

D 04741 Roßwein

Legal form: Ltd partnership with priv. ltd.

company as general partner

Total cap.         EUR             51,129.19

contribution:

Share:             EUR             26,587.18

Registered

on:         10.10.1996

Reg. data:  04275 Leipzig, HRA 12541

 

 

COMPANY HISTORY

 

16.12.1999 - 03.06.2005  F. F. T. International Fashion

                         Verwaltungsgesellschaft mbH

                         Werkstr. 11

                         D 21218 Seevetal

                         Private limited company

 

 

BUSINESS ACTIVITIES

 

Sectors

4690   Non-specialized wholesale trade

 

 

FINANCIAL INFORMATION

 

Payment experience:  within agreed terms

 

Negative information:We have no negative information at hand.

 

Maximum credit:      23,000 EUR

 

Balance sheet year:  2009/2010

 

REAL ESTATE

 

Type of ownership:   Tenant

Address              Werkstr. 11

                     D 21218 Seevetal

 

Real Estate of:      Christian Ließ

Type of ownership:   proprietor

Share:                100.00 %

Address              Am Sunder 21

                     D 21224 Rosengarten

 

Land register documents were not available.

 

 

BANKERS

 

HSH NORDBANK HAMBURG, HAMBURG

Sort. code: 20050000, BIC: HSHNDEHH200

 

 

FINANCIAL FIGURES

 

Turnover:            2009/2010          EUR          1,150,000.00

                     2010/2011          EUR          1,150,000.00

further business figures:

Ac/ts receivable:                       EUR            383,107.00

Liabillities:                           EUR          1,122,949.00

Employees:                                                      5

 

The aforementioned business figures may partly be estimated

information based on average values in the line of business.

 

 

BALANCE SHEETS

 

Balance sheet ratios 01.04.2009 - 31.03.2010

Equity ratio [%]:                 19.29

Liquidity ratio:                   0.34

Return on total capital [%]:       4.06

Balance sheet grade:                3.3

 

Equity ratio

The equity ratio indicates the portion of the equity as compared

to the total capital. The higher the equity ratio, the better the

economic stability (solvency) and thus the financial autonomy of

a company.

 

Liquidity ratio

The liquidity ratio shows the proportion between adjusted

receivables and net liabilities. The higher the ratio, the lower

the company's financial dependancy from external creditors.

 

Return on total capital

The return on total capital shows the efficiency and return on

the total capital employed in the company. The higher the return

on total capital, the more economically does the company work

with the invested capital.

 

Balance sheet grade

The balance sheet grade is based on the following ratios: equity

ratio, liquidity ratio and return on total capital from the

balance sheets published in the Federal Gazette. It is calculated

in accordance with the methodology of Euler Hermes. It ranges

from 1.0 (positive) to 5.0 (negative).

 

Type of balance

sheet:               Company balance sheet

 

Financial year:      01.04.2009 - 31.03.2010

 

ASSETS                                  EUR          1,413,110.07

 Fixed assets                           EUR          1,027,746.13

  Tangible assets                       EUR             11,128.00

   Other / unspecified tangible assets  EUR             11,128.00

  Financial assets                      EUR          1,016,618.13

   Other / unspecified financial assets EUR          1,016,618.13

 Current assets                         EUR            385,363.94

  Accounts receivable                   EUR            383,107.38

   Other debtors and assets             EUR            383,107.38

  Liquid means                          EUR              2,256.56

 

LIABILITIES                             EUR          1,413,110.07

 Shareholders' equity                   EUR            272,586.44

  Capital                               EUR             26,000.00

   Subscribed capital (share capital)   EUR             26,000.00

  Balance sheet profit/loss (+/-)       EUR            246,586.44

   Profit / loss brought forward        EUR            189,177.02

   Annual surplus / annual deficit      EUR             57,409.42

 Provisions                             EUR             17,574.00

 Liabilities                            EUR          1,122,949.63

  Other liabilities                     EUR          1,122,949.63

   Unspecified other liabilities        EUR          1,122,949.63

 

Inconsistent balance sheets:

Financial year                              published on

01.04.2008 - 31.03.2009                     04.10.2010

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.43

UK Pound

1

Rs.71.89

Euro

1

Rs.63.41

 

 

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

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 Business

 

--

 

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.