MIRA INFORM REPORT
|
Report Date : |
20.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SEAFOOD CONNECTION B.V. |
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Registered Office : |
Het Spijk 12, 8321WT Urk |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
19.05.2005 |
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Com. Reg. No.: |
39090057 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale of fish |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
€ 250.000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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) |
|
Netherlands |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
CONTACTINFORMATION
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Company name |
Seafood
Connection B.V. |
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Tradename |
Seafood Connection B.V. |
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|
Seacon |
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Address |
Het Spijk 12 |
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|
8321WT Urk |
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Netherlands |
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Mail address |
Postbus 73 |
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8320AB Urk |
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Netherlands |
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Telephone number |
0527687066 |
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Telefax number |
0527687067 |
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E-mail address |
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|
Website |
CREDIT LIMIT
Credit limit A credit of € 250.000 may be
granted Normal
COMPANY INFORMATION
Handelsregisternummer 39090057
Registered in Chamber of commerce Gooi-, Eem- en Flevoland
First
registration 19-05-2005
Act
of foundation 18-05-2005
Date
of constitution 12-12-1995
Continuation
date 18-05-2005
Legal form Besloten Vennootschap (Limited
Company)
Place of constitution UrK
Capital EUR 90.000
Issued capital EUR 18.000
Paid up capital EUR
18.000
NACE-code Wholesale of fish
(51382)
SBI-code Wholesale of
fish (46382)
Formal objective Het
exploiteren van een handelsonderneming in vis en visproducten.
(Exploitation of a trading in
fish and fish products.)
Employees Total: 12
Bookyear 2009 2008 2007
Number 12 21 12
Change -42,86% 75,00% 0,00%
COMPANY STRUCTURE
Shareholder Seafood
Connection Holding B.V.
Het Spijk 12
8321WT URK
Netherlands
KvK: 39061180
Active since: 18-05-2005
Percentage: 100.00%
Bankers ABN Amro Bankers NV
MANAGEMENT
Management Seafood
Connection Holding B.V.
Het
Spijk 12 8321WT URK
Netherlands
KvK:
39061180
Authorization:
Fully authorized
Position:
General director
Date
appointed: 18-05-2005
J.
Kaptijn Jan
Authorization:
Fully authorized
Position:
Managing Director
Date
appointed: 19-05-2005
Date
of birth: 23-11-1970
L.
Brouwer Lucas
Authorization:
Fully authorized
Position:
Proxy
Date
appointed: 19-05-2005
Date
of birth: 30-05-1978
K.H.
van Eerde
Klaas
Hessel
Authorization:
Limited authorization
Position:
Proxy
Date
appointed: 19-05-2005
Date
of birth: 26-08-1972
PAYMENT INFORMATION
Payment experiences Payments are regular
Payments Based on multiple payment
experiences up to € 15.000
Quarter: 3 2010: 61 Average
days
Quarter: 4 2010: 57 Average
days
Quarter: 1 2011: 61 Average
days
Quarter: 2 2011: 65 Average
days
|
|
invoices |
current quarter |
2011 Q1 |
2010 Q4 |
2010 Q3 |
|
|
Total |
64 |
100% |
25.370 |
25.009 |
24.447 |
25.432 |
|
Within terms |
22 |
21,4% |
5.425 |
7.685 |
12.206 |
7.459 |
|
Delayed 0 - 30 |
32 |
72,3% |
18.344 |
15.723 |
9.696 |
17.296 |
|
Delayed 31 - 60 |
5 |
6,3% |
1.601 |
1.601 |
2.135 |
267 |
|
Delayed 61 - 90 |
1 |
0,0% |
|
|
|
|
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Delayed 91 - 120 |
2 |
0,0% |
|
|
164 |
164 |
|
Delayed 120+ days |
2 |
0,0% |
|
|
246 |
246 |
FINANCIAL INFORMATION
Lease obligations 123.000
Stijging/daling turnover -17.10%
Auditor's report declined
According
to the auditor, the annual account gives a faithful description of the size and
composition of the company.
Publication financial statement
Annual accounts 2009 are published on 09-07-2010
Annual accounts 2008 are published on 14-04-2009
Annual accounts 2007 are published on 10-11-2008
Type of publication Corporate
Publication Publication
according to obligations by law
|
CORE FIGURES |
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BOOKYEAR |
2009 |
2008 |
2007 |
|
Quick ratio |
0,58 |
0,42 |
0,49 |
|
Current ratio |
1,51 |
1,39 |
1,35 |
|
Nett workingcapital /
Balance total |
0,33 |
0,28 |
0,26 |
|
Capital and reserves /
Balance total |
0,36 |
0,29 |
0,26 |
|
Capital and reserves /
Fixed assets |
11,06 |
31,61 |
20,38 |
|
Solvency |
0,56 |
0,40 |
0,36 |
|
Nett workingcapital |
4.362.047 |
5.347.414 |
3.737.000 |
|
Capital and reserves |
4.795.511 |
5.520.968 |
3.851.000 |
|
Change capital and
reserves |
-13,14% |
43,36% |
17,77% |
|
change short term
liabilities |
-37,52% |
29,37% |
17,16% |
|
Operating profit |
845.978 |
3.464.290 |
2.303.000 |
|
Profitability operating
profit |
Positive |
Positive |
Positive |
Annual
accounts The
company is obligated to publish its annual accounts
|
Last annual accounts |
2009 |
|
|
Type of publication |
Corporate |
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|
Gross profit |
2009: |
2.602.212 |
|
|
2008: |
4.979.623 |
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|
2007: |
3.517.000 |
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|
2006: |
2.547.000 |
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Operating profit |
2009: |
845.978 |
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|
2008: |
3.464.290 |
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|
2007: |
2.303.000 |
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|
2006: |
1.552.000 |
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Result after taxes |
2009: |
474.543 |
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|
2008: |
2.270.026 |
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2007: |
1.330.000 |
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|
2006: |
895.000 |
Tendency Changeable
Tendency capital and reserves
Capital
and reserves 2009 4.795.511
Total
debt 2009 8.576.695
Current
ratio 2009 1,51
Quick
ratio 2009 0,58
Nett
workingcapital 2009 4.362.047
Profitability Positive
Solvency Positive
Liquidity Positive
Current- & Quickratio
BALANCE sheet
Currency
in Euro
|
BOOKYEAR |
2009 |
2008 |
2007 |
|
End of bookyear |
31-12-2009 |
31-12-2008 |
31-12-2007 |
|
Goodwill |
129.375 |
|
|
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Other intangible assets |
8.660 |
13.000 |
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Intangible assets |
138.035 |
13.000 |
1.000 |
|
Tangible assets |
144.065 |
161.670 |
188.000 |
|
Financial assets |
151.364 |
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|
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Fixed assets |
433.464 |
174.670 |
189.000 |
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|||
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Stocks and work in
progress |
7.957.880 |
13.376.734 |
9.181.000 |
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Trade debtors |
4.655.540 |
5.362.381 |
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Accounts receivable older
than one |
38.700 |
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|
year |
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|
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Due from related parties |
|
55.155 |
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Other amounts receivable |
112.020 |
107.179 |
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Accounts receivable |
4.806.260 |
5.524.715 |
5.164.000 |
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Liquid assets |
1.613 |
951 |
2.000 |
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Deferred charges and
accrued |
172.989 |
171.123 |
|
|
income |
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|
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Current assets |
12.938.742 |
19.073.523 |
14.347.000 |
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Total assets |
13.372.206 |
19.248.193 |
14.536.000 |
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|||
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Capital and reserves |
4.795.511 |
5.520.968 |
3.851.000 |
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Provisions |
|
1.116 |
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other long term debts |
|
|
75.000 |
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Long term liabilities |
|
|
75.000 |
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Trade debts suppliers |
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|
2.894.000 |
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Debts to credit institutions |
6.270.888 |
8.699.457 |
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Debts to related
companies |
139.439 |
124.785 |
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Other short term debts |
2.166.368 |
4.901.867 |
7.716.000 |
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Total short term debt |
8.576.695 |
13.726.109 |
10.610.000 |
|
Total debt |
8.576.695 |
13.727.225 |
10.685.000 |
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Total Liabilities |
13.372.206 |
19.248.193 |
14.536.000 |
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PROFIT & LOSS ACCOUNT |
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BOOKYEAR |
2009 |
2008 |
2007 |
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Gross profit |
2.602.212 |
4.979.623 |
3.517.000 |
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Wages employees |
756.282 |
774.949 |
631.000 |
|
Social securities |
102.583 |
86.137 |
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Depreciation and
amortization |
62.653 |
42.255 |
56.000 |
|
Other operating charges |
834.716 |
611.992 |
527.000 |
|
Operating charges |
1.756.234 |
1.515.333 |
1.214.000 |
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Operating profit |
845.978 |
3.464.290 |
2.303.000 |
|
Financial income |
279 |
38.782 |
26.000 |
|
Financial charges |
227.449 |
477.622 |
550.000 |
|
Financial result |
-227.170 |
-438.840 |
-524.000 |
|
Result before taxes |
618.808 |
3.025.450 |
1.779.000 |
|
Income taxes |
144.265 |
755.424 |
449.000 |
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Result after taxes Nett
result |
474.543 474.543 |
2.270.026 2.270.026 |
1.330.000 1.330.000 |
History
Management Since 24-08-2009 is Proxy Dirk Richard
Theodoor de Graaf out of office.
Since
19-05-2005 is Proxy Jan Kaptijn appointed. Since 24-08-2009 is Proxy Klaas Jan
Mazereeuw out of office. Since 24-08-2009 is Proxy Sjoert Moors out of office.
Company structure
·
Seafood Connection B.V.
(39090057) Urk
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.93 |
|
UK Pound |
1 |
Rs.72.43 |
|
Euro |
1 |
Rs.63.62 |
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 |
|
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.