MIRA INFORM REPORT

 

 

Report Date :           

12.11.2011

 

IDENTIFICATION DETAILS

 

Name :

GARCIA B.V.

 

 

Registered Office :

Van Hennaertweg 8, 2952CA Alblasserdam

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

07.03.1978

 

 

Com. Reg. No.:

24241963

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Wholesale of outerwear

 

 

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

Status :

Satisfactory

Payment Behaviour :

Usually Correct 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Netherlands

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

CONTACT INFORMATION   

 

Company name

Garcia B.V.

Tradename

Garcia B.V.

Address

Van Hennaertweg 8

 

2952CA Alblasserdam

 

Netherlands

Mail address

Van Hennaertweg 8

 

2952CA Alblasserdam

 

Netherlands

Telephone number

0786832266

Telefax number

0786911688

E-mail address

info@garcia.nl

Website

www.garcia.nl

VAT number

004337517

 

 

CREDIT LIMIT

 

Credit limit                     A credit of € 250.000 may be granted

 

 

COMPANY INFORMATION

 

Handelsregisternummer 24241963

Registered in                             chamber of commerce Rotterdam

First registration                         07-03-1978

Act of foundation                        07-03-1978

Date of constitution                    01-09-1977

Last change in statutes              23-08-2010

Legal form                                 Besloten Vennootschap (Limited Company)

Place of constitution                   Alblasserdam

Capital                                     EUR 100.000

Issued capital                           EUR 20.100

Paid up capital                          EUR 20.100

NACE-code                               Wholesale of outerwear (51421)

SBI-code                                   Wholesale of outerwear (46421)

Formal objective                         Groothandel in vrijetijdskleding

(Wholesale casual)

 

Employees

Total: 56

 

 

Employees according to CoC

Chamber of commerce: 56

 

 

Bookyear

2011

2008

2007

Number

56

52

56

Change

7,69%

-7,14%

-8,20%

 

 

COMPANY STRUCTURE

 

Shareholder

J.O.G. Group B.V.

 

Van Hennaertweg 8

 

2952CA ALBLASSERDAM

 

Netherlands

 

KvK: 24479796

 

Active since: 01-01-2010

 

Percentage: 100.00%

Ultimate shareholder/ manager

L. van de Sanden Beheer B.V.

 

Mgr. Hopmansstraat 29

 

4817JT BREDA

 

Netherlands

 

KvK: 20128249

 

Stichting Administratiekantoor De Rith Beheer

 

Rithsestraat 220

 

4838GD BREDA

 

Netherlands

 

KvK: 20134908

Ultimate parent company

Stichting Administratiekantoor De Rith Beheer

 

Rithsestraat 220

 

4838GD BREDA

 

KvK: 20134908

Holding company

J.O.G. Group B.V.

 

Van Hennaertweg 8

 

2952CA ALBLASSERDAM

 

KvK: 24479796

Affiliated companies

Ensign Blue B.V.

 

Van Hennaertweg 8

 

2952CA ALBLASSERDAM

 

KvK: 24249201

 

Jeans Centre Holding B.V.

 

Van Hennaertweg 8

 

2952CA ALBLASSERDAM

 

 

Bank

ing Bank NV

 

 

MANAGEMENT

 

Management

J.O.G. Group B.V.

 

Van Hennaertweg 8

 

2952CA ALBLASSERDAM

 

Netherlands

 

KvK: 24479796

 

Authorization: Fully authorized

 

Position: Manager

 

Date appointed: 03-09-2010

 

V.G.G. Tanke

 

Vincentius Gerardus George

 

Authorization: Fully authorized

 

Position: Proxy

 

Date appointed: 27-07-2005

 

Date of birth: 27-10-1964

           

 

PAYMENT INFORMATION

 

Payment experiences     According to terms

Payments                     Based on multiple payment experiences up to € 50.000

 

Quarter: 1 2011: 44 Average days

Quarter: 2 2011: 35 Average days

Quarter: 3 2011: 34 Average days

Quarter: 4 2011: 30 Average days

 

 

invoices

current quarter

2011 Q3

2011 Q2

2011 Q1

Total

84

100%

60.416

61.607

61.613

62.478

Within terms

71

98,8%

59.704

56.086

53.070

43.421

Delayed 0 - 30

 

1,2%

712

4.984

8.543

16.373

Delayed 31 - 60

2

0,0%

 

537

 

2.684

 

 

FINANCIAL INFORMATION

 

Publication financial statement                Annual accounts 2009 are published on 07-09-2010

Annual accounts 2008 are published on 07-01-2010

Annual accounts 2007 are published on 07-01-2009

 

Type of publication                                 consolidated

Annual accounts van                              Garcia B.V. Van

Hennaertweg 8 2952CA

Alblasserdam KvK: 24241963

 

CORE FIGURES

 

 

 

BOOKYEAR

2009

2008

2007

Quick ratio

0,73

0,67

0,85

Current ratio

1,89

1,59

1,99

Nett workingcapital / Balance total

0,39

0,31

0,43

Capital and reserves / Balance total

0,56

0,47

0,31

Capital and reserves / Fixed assets

3,05

2,91

2,41

Solvency

1,28

0,90

0,71

Nett workingcapital

3.472.607

3.275.749

4.225.000

Capital and reserves

5.004.452

4.992.380

3.019.000

Change capital and reserves

0,24%

65,37%

-56,14%

change short term liabilities

-29,82%

30,69%

1.249,46%

Operating profit

2.951.791

3.100.804

3.420.000

Profitability operating profit

positive

positive

positive

 

Annual accounts            The company is obligated to publish its annual accounts

Last annual accounts     2009

 

Type of publication

Consolidated

Gross profit

2009:

14.383.000

 

2008:

14.869.000

 

2007:

12.667.000

 

2006:

7.968.000

 

2005:

7.985.000

Operating profit

2009:

2.931.000

 

2008:

3.094.000

 

2007:

3.420.000

 

2006:

1.644.000

 

2005:

2.153.000

Result after taxes

2009:

2.107.000

 

2008:

2.099.000

 

2007:

2.228.000

 

2006:

449.000

 

2005:

1.346.000

 

Tendency                     changeable

Capital and reserves       2009 5.004.452

Total debt                      2009 4.007.635

Current ratio                  2009 1,89

Quick ratio                    2009  0,73

Nett workingcapital         2009 3.472.607

Profitability                    more than sufficient

Solvency                       sufficient          

Liquidity                        positive

 

Tendency capital and reserves


Balance sheet

 

BOOKYEAR

2009

2008

2007

End of bookyear

31-12-2009

31-12-2008

31-12-2007

Intangible assets

133.722

195.000

234.000

Tangible assets

1.467.041

1.483.631

881.000

Financial assets

38.000

38.000

138.000

Fixed assets

1.638.763

1.716.631

1.252.000

 

Stocks and work in progress

4.530.045

5.130.608

4.844.000

Accounts receivable

2.771.577

3.627.343

3.469.000

Liquid assets

71.702

76.070

165.000

Current assets

7.373.324

8.834.021

8.478.000

Total assets

9.012.087

10.550.652

9.730.000

 

Minority interest

 

 

1.000

Capital and reserves

5.004.452

4.992.380

3.019.000

Provisions

106.918

 

 

Other short term debts

 

5.558.272

4.253.000

Total short term debt

3.900.717

5.558.272

4.253.000

Other liabilities

 

 

2.457.000

Total debt

4.007.635

5.558.272

6.710.000

Total Liabilities

9.012.087

10.550.652

9.730.000

 

PROFIT & LOSS ACCOUNT

 

 

 

BOOKYEAR

2009

2008

2007

Gross profit

14.382.568

14.868.717

12.667.000

Wages employees

3.939.698

3.796.777

3.289.000

Social securities

752.244

660.654

 

Sales costs

 

 

423.000

Depreciation and amortization

462.320

417.657

264.000

Other operating charges

6.276.515

6.892.825

5.271.000

Operating charges

11.430.777

11.767.913

9.247.000

Operating profit

2.951.791

3.100.804

3.420.000

Financial income

0

0

12.000

Financial charges

31.804

51.996

306.000

Financial result

-31.804

-51.996

-294.000

Result participations

-42.116

-117.410

-21.000

Result before taxes

2.877.871

2.931.398

3.105.000

Income taxes

768.121

833.095

877.000

Result after taxes

2.109.750

2.098.303

2.228.000

Result participations after taxes

2.329

-625

 

Nett result

2.112.079

2.097.678

2.228.000

Income attributable to minority

 

 

-1.000

 

History

 

Management                 Since 03-09-2010 manager 24479796 J.O.G. Group B.V. appointed.

Since 03-09-2010 manager Louis Constant Hubert Joan van de Sanden out of office.

Since 03-09-2010 manager 24244160 Urbinotex Beheer B.V. out of office.

 

Modifications                 Since 23-8-2010 statutes modified. Since 23-8-2010 name changed to: Garcia B.V..

Since 2-1-2008 statutes modified.

 

 

Company structure

 

Stichting Administratiekantoor De Rith Beheer (20134908)

BREDA

 

De Rith Beheer B.V. (20072077)

BREDA

Subsidiary

 

Stichting Administratiekantoor J.O.G. Group (24397926)

ALBLASSERDAM

Management relation

 

J.O.G. Group B.V. (24479796)

ALBLASSERDAM

Management relation

Garcia B.V. (24241963) Alblasserdam

Subsidiary (100%)

 

Ensign Blue B.V. (24249201)

ALBLASSERDAM

Subsidiary (100%)

 

Los B.V. (23090792)

ALBLASSERDAM

Subsidiary (100%)

 

Jeans Centre Holding B.V. (24378138)

ALBLASSERDAM

Subsidiary (100%)

 

Jeans Centre B.V. (16036124)

NIEUWKUIJK

Subsidiary

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.28

UK Pound

1

Rs.80.08

Euro

1

Rs.68.45

 

 

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.