MIRA INFORM REPORT

Report Date :

06.05.2011

IDENTIFICATION DETAILS

Name :	KRUZ SEAFOOD
Registered Office :	Napollon Est, Av Du Passe Temps, 13400 Aubagne
Country :	France
Financials (as on) :	31.03.2004
Date of Incorporation :	May 1994
Com. Reg. No.:	395153653
Legal Form :	Public limited company with board of directors
Line of Business :	Wholesale business of frozen

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 :	250,000 Eur
Status :	Satisfactory
Payment Behaviour :	No Complaints
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 – December 31, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
France	a2	a2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

REGISTERED NAME & COMPANY SUMMARY

Company Summary

Company Details
Company Number	39515365300047
Name	KRUZ SEAFOOD
Telephone	04 42 36 96 96
Fax	04 42 36 96 97
Legal form	Public limited company with board of directors
RCS Registration	395153653
Share Capital	2,200,000
Incorporation Date	05/1994
Address	NAPOLLON EST, AV DU PASSE TEMPS
Postcode	13400 AUBAGNE
Nationality	France

CREDIT RECOMENDATION

Current Credit Limit: 250,000 Eur

Credit Information Summary
Company Status	Economically active
Credit Limit (€)	250,000

DIRECTORS/MANAGEMENT

Directors Summary
Directorships	4

Directors

Director
Name	VERITIER JEAN MAX DENIS GILBERT	Manager position	Président Directeur Général
Date of birth	16/04/1958	Place of birth	MARSEILLE (13)
Type of manager	Individual	Name at birth of manager
Director
Name	M GAETA ANDRE	Manager position	Administrateur
Date of birth	13/12/1954	Place of birth	13 MARSEILLE
Type of manager	Individual	Name at birth of manager
Director
Name	Mme EPSE VERITIER MONIQUE NADINE	Manager position	Administrateur
Date of birth	24/05/1960	Place of birth	05 EMBRUN
Type of manager	Individual	Name at birth of manager	ANGE
Director
Name	M AGHADJANIAN LOUIS	Manager position	Administrateur
Date of birth	15/06/1947	Place of birth	MARSEILLE
Type of manager	Individual	Name at birth of manager

NEGATIVE INFORMATION

Please complete

SHARE & SHARE CAPITAL INFORMATION

Please complete

PAYMENT INFORMATION

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GROUP STRUCTURE & AFFILIATED COMPANIES

Group Structure

No group structure for this company.

FINANCIAL INFORMATION

Accounts Summary (last 3 years)
Accounts Date	31/03/2004
Turnover	11,182,199
Networth	3,048,909

Accounts & Ratios

Profit & Loss
Account Date	31/03/2004
Account period (month)	12
Account Type	Normal Account
Currency	Euro
Turnover	11,182,199
Exports	0
Operating Charges	10,440,672
Operating Profit	752,703
Financial Income	3,994
Financial Charges	10,877
Pre-Tax Profit	745,820
Extraordinary Income	25,629
Extraordinary Charges	646
Net Profit	504,717

Balance Sheet
Account Date	31/03/2004
Assets
- Tangible assets	243,362
Intangible assets	1,793
Financial assets	6,264
Total fixed assets	251,419
Stocks	1,458,313
Receivables	1,181,174
- Trade Receivables	1,123,079
- Misc. Receivables	58,095
Cash	1,578,319
Misc. Current Assets	37,999
Total Current Assets	4,255,805
Liabilities
Trade Accounts Payable	1,204,259
Bank Loans and Liabilities	79,962
Sundry Loan and Liabilities
Advanced Payments Received	0
Tax and Social Liabilities	150,905
Miscellaneous Liabilities	23,188
Provisions for Risks & Charges	2,651
Other Capital Resources	0
Share Capital	1,001,000
Revaluation Reserve	0
Other Reserves	2,047,909
Total Shareholders Funds	3,048,909
Total Assets	4,509,874
Net Worth	3,047,116
Ratios
Account Date		31/03/2004
Structure
Protection		67.61%
Net Gearing		1.77%
Repayment Power		14.97%
Capital Requirement		93.00 day
Working Capital Requirement		42.00 day
Net Cash		51.00 day
Performance
Return on Invested Capital		311.00%
Return on Equity		16.55%
Gross Profit		11.98% Turnover
Growth v's Year Ago Qtr		11,182,199€
Inventory Returns		0
Receivables Days		37.00 day
Payable Days		42.00 day
SIG
Profit		16.88% Turnover
Gross Profit		11.98% Turnover
Wage and Salary distribution / Gross Profit		39.37% Turnover
Gross Operating Surplus		6.99% Turnover
Pre-tax Income		6.67% Turnover
Net Profit/Loss		4.51%

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Judgements Summary
No judgements against this company.
Number of Employees	10 to 19 employees

Company Information

company details
Company Name	KRUZ SEAFOOD
Company Number	39515365300047
Activity (APE)	Commerce de gros (commerce interentreprises) de produits surgelés (Wholesale (business to business) of frozen)
Activity (APRM)
Currency	EURO (€)
Share capital	2,200,000
Registration Court	Marseille (13)
Legal form	Public limited company with board of directors
Court Registry Number	19 9 4B010
EU VAT Number	FR12395153653
Incorporation Date	05/1994
Formation Date	06/1994
Deregistration Date
Last account Date	31/03/2004
Nationality	France
Establishment details
Postal Address		NAPOLLON EST,AV DU PASSE TEMPS 13400 AUBAGNE,
Trading Address		NAPOLLON EST,AV DU PASSE TEMPS 13400 AUBAGNE,
Telephone		04 42 36 96 96
Fax		04 42 36 96 97
Type		Head office (one site company)
Status		Economically active
Formation Date		06/1994
Reason for formation		Other
Closure Date
Reason for closure
Reactivation Date
Production Role
Activity Nature		-
Activity Location		Store
Location Service		From 300 m² to less than 400 m²
Seasonality

Other establishments
Branches	1 branch entities in this company

Company number	39515365300047	Company name	KRUZ SEAFOOD
Type	Head office (one site company)	Activity (ape)	Commerce de gros (commerce interentreprises) de produits surgelés (Wholesale (business to business) of frozen)
Post Code	13400	City	AUBAGNE

Regionality	Legal unit with all establishments in same area
Mono-activity status	Legal unit having all establishments with the same main activity

Workforces
Workforce at address	10 to 19 employees
Company workforce	10 to 19 employees

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.

Event history

Status history

No status history for this company.

Recent Publications in Gazettes
Publication Date		Gazette Name		Description
27/10/2010		B		Modification et mutation diverse
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 326 - 395 153 653 RCS Marseille. KRUZ SEAFOOD. Forme : Société anonyme. Administration : Président directeur général : VERITIER JEAN MAX DENIS GILBERT modification le 07 Mai 2002 Commissaire aux comptes titulaire : JOUVE JEAN Administrateur : GAETA Andre modification le 11 Avril 2002 Administrateur : ANGE Monique Nadine en fonction le 09 Octobre 1997 Administrateur : AGHADJANIAN Louis en fonction le 20 Octobre 1999 Commissaire aux comptes suppléant : CABUZEL Jacques en fonction le 18 Octobre 2010. Commentaires : Modification de représentant.
22/10/2009		B		Modification et mutation diverse
13 - BOUCHES-DU-RHONE GREFFE DU TRIBUNAL DE COMMERCE DE MARSEILLE 228 - 395 153 653 RCS Marseille. KRUZ SEAFOOD. Forme : Société anonyme. Capital : 2200000 EUR. Commentaires : Modification du capital.
17/10/2006		C		Avis de dépôt des comptes
578 - RCS Marseille B 395 153 653. RC 94-B 1072. KRUZ SEAFOOD. Forme: S.A. Adresse du siège social: parc D Activites de Napollon avenue du Passe Temps,13400 Aubagne. Comptes annuels et rapports de l'exercice clos le: 31 mars 2004.
28/05/2002		B		Modifications et mutations diverses
RCS Marseille B 395153653 RC 94-B 1072 KRUZ SEAFOOD. Forme : S.A. Commentaires : modification survenue sur l' administration. Administration : modification du P.-D.G. : VERITIER ( Jean, Max, Denis, Gilbert).
28/10/2001		B		Modifications et mutations diverses
RCS Marseille B 395153653 RC 94-B 1072 KRUZ SEAFOOD. Forme : S.A. Capital : 1 001 000 euros. Commentaires : modification survenue sur le capital (augmentation).
25/06/2000		B		Modifications et mutations diverses
RCS Marseille B 395153653 RC 94-B 1072 KRUZ SEAFOOD. Forme : S.A. Adresse du siège social : P.A. de Napollon, avenue du Passe-Temps, 13400 Aubagne. Commentaires : modification survenue sur l'adresse du siège social et l'adresse de l'établissement principal Etablissement principal: Adresse : P.A. de Napollon, avenue du Passe-Temps, 13400 Aubagne.
04/11/1999		B		Modifications et mutations diverses
*. RCS Marseille B 395 153 653 RC 94-B 1072 KRUZ SEAFOOD. Forme : S.A. Commentaires : modification survenue sur l'administration. Administration : nomination en qualité d'administrateur : AGHADJANIAN (Louis).
23/10/1997		B		Modifications et mutations diverses
RCS *. RCS Marseille B 395 153 653 RC RC 94-B 1072 KRUZ SEAFOOD. Forme : S.A. Capital : 1 100 000 F. Administration : modification : président du conseil d' administration : VERITIER (Jean, Max, Denis, Gilbert) Nomination en qualité d' administrateurs : GAETA (André) ANGE (Monique, Nadine), nom d'usage : épouse VERITIER. Modification : commissaire aux comptes suppléant : MARTIN CHAVE (Yves). Commentaires : modification survenue sur la forme juridique, l'administration et le capital (augmentation).
24/12/1995		B		Modifications et mutations diverses
Ancienne situation du siège social. RCS Marseille B 395 153 653 RC 94-B 1072 KRUZ SEAFOOD. Forme : S.A.R.L. Capital : 200 000 F (fixe). Adresse : parc d' activité de la Plaine-de-Jouques, 380 avenue du Garlaban, B.P. 14, 13881 Gemenos cedex Nouvelle situation du siège social. Adresse : 51 boulevard Saint-Jean, 13010 Marseille Etablissement principal: Adresse : parc d'activités de la Plaine-de-Jouques, 380 avenue du Garlaban, B.P. 14, 13881 Gémenos cedex ETABLISSEMENT PRINCIPAL nouvelle situation. Adresse : 51 boulevard Saint-Jean, 13010 Marseille. Date d'effet : 29 septembre 1995.
Company events history
Date	Description
27/10/2010	Bodacc B: Various editing or changing
12/10/2010	New auditor
12/10/2010	Minutes of general meeting of shareholders
22/10/2009	Bodacc B: Various editing or changing
12/10/2009	Updated articles of association
12/10/2009	Capital increase
12/10/2009	Minutes of general meeting of shareholders
02/10/2009	Collection of preferential rights activated for this company
29/09/2009	Other modification of Establishment
29/09/2009	Update of Company Workforce
02/01/2008	Modification of Company Activity
02/01/2008	Update of Company Activity
31/03/2004	New accounts available
07/05/2002	Augmentation de Capital
07/05/2002	Nomination/démission des organes de gestion
07/05/2002	PV d'Assemblée
07/05/2002	Acte sous seing privé
07/05/2002	PV du Conseil d'Administration
07/05/2002	Modification du Conseil d'Administration
07/05/2002	Statuts mis à jour
Establishment events history
Date			Description
29/12/2009			Update Rating
16/10/2009			Update Rating
05/06/2009			Update Rating
10/12/2007			Update Limit
09/12/2007			Update Limit

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.57
UK Pound	1	Rs.73.58
Euro	1	Rs.66.23

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.