MIRA INFORM REPORT

Report Date :

20.08.2012

IDENTIFICATION DETAILS

Name :	MR. HOME, S. R. O.
Registered Office :	Pri Habánskom Mlyne 16, 811 04 Bratislava
Country :	Slovakia
Financials (as on) :	2011
Date of Incorporation :	02.02.2007
Com. Reg. No.:	No. 44389/B
Legal Form :	Limited Liability Company
Line of Business :	Wholesale of furniture, carpets and lighting equipment
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
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 – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
Slovakia	B1	B1

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

COMPANY REPORTED

MR. HOME, S. R. O.

Principal Address:
Tuhovská 16
830 15 Bratislava
Slovakia
Telephone: +421-911-239911
Email: info@mrhome.sk
Web: www.mr-home.sk

Registered office:
Pri Habánskom Mlyne 16
811 04 Bratislava
Slovakia

ICON number: 101613650
National ID: 36733393
International VAT number: SK2022475180
VAT number: SK2022475180

Registration status: 02.02.2007 - registered company
Activity status: 02.02.2007 - active company

Date of Last Research:

17.08.2012

CREDIT INFORMATION SUMMARY

Payment Practices:

No adverse payment incidents known at this time

Further Rating Information:

Researched company is categorized as a small company. Turnover volume of EUR 369.041 in the year 2011 increased by 308,92% compared with 2010. In the previous period this change was 52,63%. Cash flow from results of EUR 6.221 decreased by 66,44% compared with last year result.

Debt Collection:

There is no record of any debt collection action by Coface Slovakia Credit Management Services s.r.o. against this company exceeding a single case volume of EUR 500.

COMPANY DETAILS

Established:

02.02.2007

Registration:

No. 44389/B 02.02.2007 Bratislava, Slovakia

Legal Form:

02.02.2007 Limited Liability Company

History:

02.02.2007 - RAVAO, s.r.o. 08.07.2009 - CARPET GALLERY, s. r. o. 01.10.210 - CARPET HOUSE, s. r. o. 30.03.2012 - Mr. HOME, s. r. o.

Capital:

Nominal capital:		EUR 6.638,78	since 14.01.2009
	Changed from:	SKK 200.000,00	since 02.02.2007

Shareholders:

Full Name	Function	Address	Equity capital
BRYCHTA Tomáš	Partner 25.09.2010 - Present	Račianska 8 831 04 Bratislava Slovakia	EUR 6.638,78

Management:

Full Name	Function	Address
BRYCHTA Tomáš 25.09.2010 - Present	Managing director	Račianska 8 831 04 Bratislava Slovakia

Legal Representation:

Each of the managing directors represents the firm by him/herself

KEY DATA ON OPERATIONS

Subject of Operation:

NACE   4647 Wholesale of furniture, carpets and lighting equipment NACE codes given are based on the most recent NACE Revision 2. The company is active in the Coface sector 'Textiles, leather and clothing'. Note: the Coface Sector Rating for this industry in the emerging markets of CEE is 'B-' (Last rating: 'B')

Company Development:

300: Satisfactory business development

Key Data:

Amounts shown in Euro (EUR)
	2011	2010	2009	2008
Turnover	369.041	90.248	59.130	0
Non-current assets	13.288	19.934	0	0
Equity	27.240	27.665	17.966	4.857
Sum of Liabilities	210.780	180.440	50.467	0
Profit for accounting period	0	11.889	13.109	0
Loss for accounting period	425	0	0	91
Operating result - profit (before tax)	4.165	15.412	14.214	0
Operating result - loss (before tax)	0	0	0	40

Workforce:

	2011	2010	2009
Total workforce	0 - 5 (estimated)	0 - 5 (estimated)	2 (estimated)

Imports:

2009 China, India, Belgium, Nepal, Portugal

FINANCIAL INFORMATION

Financials:

Amounts shown in Euro (EUR)		2011	2010	2009	2008
	BALANCE SHEET
	ASSETS
	TOTAL ASSETS	238.020,00	208.105,00	68.433,00	4.857,00
A.	NON-CURRENT ASSETS	13.288,00	19.934,00	0,00	0,00
I.	Intangible fixed assets	0,00	0,00	0,00	0,00
1.	Incorporation expenses	0,00	0,00	0,00	0,00
2.	Research and development costs	0,00	0,00	0,00	0,00
3.	Software	0,00	0,00	0,00	0,00
4.	Valuable rights	0,00	0,00	0,00	0,00
5.	Goodwill	0,00	0,00	0,00	0,00
6.	Other intangible fixed assets	0,00	0,00	0,00	0,00
7.	Intangible fixed assets in acquisition	0,00	0,00	0,00	0,00
8.	Advance payments for intangible fixed assets	0,00	0,00	0,00	0,00
II.	Tangible fixed assets	13.288,00	19.934,00	0,00	0,00
1.	Land	0,00	0,00	0,00	0,00
2.	Structures	0,00	0,00	0,00	0,00
3.	Separate movable assets and sets of moveables	13.288,00	19.934,00	0,00	0,00
4.	Natural agricultural assets	0,00	0,00	0,00	0,00
5.	Livestock and draught animals	0,00	0,00	0,00	0,00
6.	Other tangible fixed assets	0,00	0,00	0,00	0,00
7.	Tangible fixed assets in acquisition	0,00	0,00	0,00	0,00
8.	Advance payments for tangible fixed assets	0,00	0,00	0,00	0,00
9.	Correction item to acquired assets	0,00	0,00	0,00	0,00
III.	Long-term financial investments	0,00	0,00	0,00	0,00
1.	Shares and ownership interests in subsidiaries	0,00	0,00	0,00	0,00
2.	Shares and ownership interests in associates	0,00	0,00	0,00	0,00
3.	Other long-term securities and ownership interests	0,00	0,00	0,00	0,00
4.	Loans to entities in consolidation field	0,00	0,00	0,00	0,00
5.	Other long-term financial assets	0,00	0,00	0,00	0,00
6.	Loans due in one year	0,00	0,00	0,00	0,00
7.	Long-term financial assets in acquisition	0,00	0,00	0,00
8.	Advance payments for long-term financial assets	0,00	0,00	0,00
B.	CURRENT ASSETS	223.998,00	188.161,00	68.404,00	4.847,00
I.	Inventory	180.946,00	161.664,00	0,00	0,00
1.	Material	0,00	0,00	0,00	0,00
2.	Work-in-progress and own semi-finished products	0,00	0,00	0,00	0,00
3.	Construction contracts with anticipated expiry period exceeding one year	0,00	0,00	0,00	0,00
4.	Finished products	0,00	0,00	0,00	0,00
5.	Livestock	0,00	0,00	0,00	0,00
6.	Merchandise	180.946,00	161.664,00	0,00	0,00
7.	Advance payments for inventory	0,00	0,00	0,00	0,00
II.	Long-term receivables	0,00	0,00	0,00	0,00
1.	Trade receivables	0,00	0,00	0,00	0,00
2.	Netto value of order	0,00	0,00	0,00
3.	Receivables from subsidiaries and controlling entity	0,00	0,00	0,00	0,00
4.	Other receivables from entities in consolidation field	0,00	0,00	0,00	0,00
5.	Receivables from partners, members and consortium	0,00	0,00	0,00	0,00
6.	Other receivables	0,00	0,00	0,00	0,00
7.	Deferred tax assets	0,00	0,00	0,00	0,00
III.	Short-term receivables	35.012,00	23.473,00	62.058,00	0,00
1.	Trade receivables	30.312,00	14.539,00	62.058,00	0,00
2.	Netto value of order	0,00	0,00
3.	Receivables from subsidiaries and controlling entity	0,00	0,00	0,00	0,00
4.	Other receivables from entities in consolidation field	0,00	0,00	0,00	0,00
5.	Receivables from partners, members and consortium	4.700,00	4.700,00	0,00	0,00
6.	Social security	0,00	0,00	0,00	0,00
7.	Tax assets and grants	0,00	4.234,00	0,00	0,00
8.	Other receivables	0,00	0,00	0,00	0,00
IV.	Financial accounts	8.040,00	3.024,00	6.346,00	4.847,00
1.	Cash in hand	904,00	146,00	4.826,00	4.826,00
2.	Bank accounts	7.136,00	2.878,00	1.520,00	21,00
3.	Bank accounts bound for period exceeding one year	0,00	0,00	0,00	0,00
4.	Short-term financial assets	0,00	0,00	0,00	0,00
5.	Short-term financial assets in acquisition	0,00	0,00	0,00	0,00
C.	ACCRUED AND DEFERRED ITEMS	734,00	10,00	29,00	10,00
1.	Prepaid expenses - long-term	0,00	0,00	0,00	0,00
2.	Prepaid expenses - short-term	734,00	10,00	29,00	10,00
3.	Accrued income - long-term	0,00	0,00	0,00	0,00
4.	Accrued income - shortterm	0,00	0,00	0,00	0,00
	LIABILITIES
	TOTAL LIABILITIES AND EQUITY	238.020,00	208.105,00	68.433,00	4.857,00
A.	EQUITY	27.240,00	27.665,00	17.966,00	4.857,00
I.	Registered capital	6.639,00	6.639,00	6.639,00	6.639,00
1.	Registered capital (paid)	6.639,00	6.639,00	6.639,00	6.639,00
2.	Treasury stocks and treasury shares	0,00	0,00	0,00	0,00
3.	Changes in registered capital	0,00	0,00	0,00	0,00
4.	Amounts receivable for subscribed capital	0,00	0,00	0,00	0,00
II.	Capital funds	0,00	0,00	0,00	0,00
1.	Share premium	0,00	0,00	0,00	0,00
2.	Other capital funds	0,00	0,00	0,00	0,00
3.	Legal reserve fund (Non-distributable fund) from capital contributions	0,00	0,00	0,00	0,00
4.	Asset and liability revaluation reserve	0,00	0,00	0,00	0,00
5.	Financial investments revaluation reserve	0,00	0,00	0,00	0,00
6.	Revaluation reserve from mergers and separations	0,00	0,00	0,00	0,00
III.	Funds from profit	655,00	655,00	0,00	0,00
1.	Legal reserve fund	655,00	655,00	0,00	0,00
2.	Non-distributable fund	0,00	0,00	0,00	0,00
3.	Statutory and other funds	0,00	0,00	0,00	0,00
IV.	Profit/Loss from prior years	20.371,00	8.482,00	-1.782,00	-1.691,00
1.	Non-distributed profit from prior years	20.371,00	8.482,00	0,00	0,00
2.	Accumulated losses from prior years	0,00	0,00	-1.782,00	-1.691,00
V.	Profit/Loss for current accounting period (after tax)	-425,00	11.889,00	13.109,00	-91,00
B.	SUM OF LIABILITIES	210.780,00	180.440,00	50.467,00	0,00
I.	Provisions	0,00	0,00	0,00	0,00
1.	Legal provisions - long-term	0,00	0,00	0,00	0,00
2.	Legal provision - short-term	0,00	0,00	0,00	0,00
3.	Other long-term provisions	0,00	0,00	0,00	0,00
4.	Other current provisions	0,00	0,00	0,00	0,00
II.	Long-term liabilities	105,00	0,00	0,00	0,00
1.	Long-term trade liabilities	0,00	0,00	0,00	0,00
2.	Netto value of order	0,00
3.	Long-term liabilities unbilled	0,00	0,00	0,00	0,00
4.	Long-term liabilities to subsidiaries and controlling entity	0,00	0,00	0,00	0,00
5.	Other long-term liabilities to entities in consolidation field	0,00	0,00	0,00	0,00
6.	Long-term advance payments received	0,00	0,00	0,00	0,00
7.	Long-term bills of exchange to be paid	0,00	0,00	0,00	0,00
8.	Bonds issued	0,00	0,00	0,00	0,00
9.	Social fund payable	105,00	0,00	0,00	0,00
10.	Other long-term payables	0,00	0,00	0,00	0,00
11.	Deferred tax liability	0,00	0,00	0,00	0,00
III.	Short-term liabilities	209.175,00	168.940,00	50.467,00	0,00
1.	Trade payables	197.284,00	160.140,00	3.677,00	0,00
2.	Netto value of order	0,00
3.	Liabilities unbilled	3.000,00	4.441,00	500,00	0,00
4.	Liabilities to subsidiaries and controlling entity	0,00	0,00	0,00	0,00
5.	Other liabilities to entities in consolidation field	0,00	0,00	0,00	0,00
6.	Payable to partners and consortium	1.204,00	0,00	43.100,00	0,00
7.	Employee liabilities	4.119,00	1.235,00	0,00	0,00
8.	Social security payables	1.998,00	1.331,00	0,00	0,00
9.	Tax liability and subsidies	1.570,00	1.793,00	3.190,00	0,00
10.	Other payable	0,00	0,00	0,00	0,00
IV.	Short-term financial assistance	1.500,00	11.500,00	0,00	0,00
V.	Bank loans	0,00	0,00	0,00	0,00
1.	Long-term bank loans	0,00	0,00	0,00	0,00
2.	Short-term bank loans	0,00	0,00	0,00	0,00
C.	ACCRUED AND DEFERRED ITEMS	0,00	0,00	0,00	0,00
1.	Accrued expenses - long-term	0,00	0,00	0,00	0,00
2.	Accrued expenses - short-term	0,00	0,00	0,00	0,00
3.	Deffered income - short-term	0,00	0,00	0,00	0,00
4.	Deferred income - short-term	0,00	0,00	0,00	0,00
	BALANCE SHEET TOTAL	238.020,00	208.105,00	68.433,00	4.857,00
	STATEMENT OF PROFIT AND LOSS
	TURNOVER	369.041,00	90.248,00	59.130,00	0,00
	Sales of goods bought for resale	359.485,00	88.901,00	59.130,00	0,00
A.	Cost of goods sold	178.988,00	35.232,00	42.818,00	0,00
*	Gross margin	180.497,00	53.669,00	16.312,00	0,00
	Production	9.556,00	1.347,00	0,00	0,00
	Sales of own products and services	9.556,00	1.347,00	0,00	0,00
1.	Changes in stock of finished products and work-in-progress	0,00	0,00	0,00	0,00
2.	Own work capitalized	0,00	0,00	0,00	0,00
B.	Consumables and services purchased	116.864,00	65.925,00	2.098,00	40,00
1.	Consumed material, energy and other non-inventory items	13.967,00	24.076,00	82,00	0,00
2.	Services	102.897,00	41.849,00	2.016,00	40,00
*	Added value	73.189,00	-10.909,00	14.214,00	-40,00
C.	Personnel expenses	62.202,00	10.625,00	0,00	0,00
1.	Wages and salaries	45.989,00	8.350,00	0,00	0,00
2.	Remuneration of board and co-operative members	0,00	0,00	0,00	0,00
3.	Social insurance	14.660,00	2.275,00	0,00	0,00
4.	Other social security expenses	1.553,00	0,00	0,00	0,00
D.	Taxes and charges	280,00	94,00	0,00	0,00
E.	Depreciation of intangible and tangible fixed assets	6.646,00	6.646,00	0,00	0,00
	Sales of fixed assets and inventory	0,00	0,00	0,00	0,00
F.	Net book value of fixed assets and inventory sold	0,00	0,00	0,00	0,00
G.	Provisions created and reserved for operating activities	0,00	0,00	0,00	0,00
	Other operating income	1.119,00	43.686,00	0,00	0,00
H.	Other operating expenses	1.015,00	0,00	0,00	0,00
	Transfer of operating income	0,00	0,00	0,00	0,00
I.	Transfer of operating expenses	0,00	0,00	0,00	0,00
*	Operating profit/loss (before tax)	4.165,00	15.412,00	14.214,00	-40,00
	Proceeds from sale of securities and ownership interests	0,00	0,00	0,00	0,00
J.	Security and ownership interest disposals	0,00	0,00	0,00	0,00
	Revenues from long-term financial investments	0,00	0,00	0,00	0,00
1.	Revenues from securities and ownership interests in subsidiaries and associates	0,00	0,00	0,00	0,00
2.	Revenues from other long-term securities and ownership interests	0,00	0,00	0,00	0,00
3.	Revenues from other long-term financial investments	0,00	0,00	0,00	0,00
	Revenues from short-term financial assets	0,00	0,00	0,00	0,00
K.	Expenses related to short-term financial assets	0,00	0,00	0,00	0,00
	Gains from revaluation of securities and financial derivative instrument transactions	0,00	0,00	0,00	0,00
L.	Expenses related to revaluation of securities and financial derivative instrument transactions	0,00	0,00	0,00	0,00
M.	Provisions created and reserved for fiancial asets	0,00	0,00	0,00	0,00
	Interest income	1,00	7,00	3,00	0,00
N.	Interest expense	0,00	0,00	0,00	0,00
	Foreign exchange gains	0,00	0,00	8,00	0,00
O.	Foreign exchange losses	2,00	273,00	776,00	0,00
	Other revenue from financing activities	0,00	0,00	0,00	0,00
P.	Other costs of financing activities	4.018,00	468,00	340,00	51,00
	Transfer of financial revenues	0,00	0,00	0,00	0,00
Q.	Transfer of financial costs	0,00	0,00	0,00	0,00
*	Profit/Loss from financing activities (before tax)	-4.019,00	-734,00	-1.105,00	-51,00
*	Profit/Loss from ordinary activities (before tax)	146,00	14.678,00	13.109,00	-91,00
R.	Income taxes on ordinary activities	571,00	2.789,00	0,00	0,00
1.	Income taxes on ordinary activities - current	571,00	2.789,00	0,00	0,00
2.	Income taxes on ordinary activities - deferred	0,00	0,00	0,00	0,00
*	Profit/Loss from ordinary activities (after tax)	-425,00	11.889,00	13.109,00	-91,00
	Extraordinary revenue	0,00	0,00	0,00	0,00
S.	Extraordinary expenses	0,00	0,00	0,00	0,00
*	Profit/Loss from extraordinary activities (before tax)	0,00	0,00	0,00	0,00
T.	Income taxes on extraordinary activities	0,00	0,00	0,00	0,00
1.	Income taxes on extraordinary activities - current	0,00	0,00	0,00	0,00
2.	Income taxes on extraordinary activities - deferred	0,00	0,00	0,00	0,00
*	Profit/Loss from extraordinary activities (after tax)	0,00	0,00	0,00	0,00
*	Profit/Loss for accounting period (before tax)	146,00	14.678,00	13.109,00	-91,00
U.	Profits of partnership transferred to partners	0,00	0,00	0,00	0,00
*	Profit/Loss for accounting period (after tax)	-425,00	11.889,00	13.109,00	-91,00

Efectively from January 1st 2009, the Slovakian currency SKK was changed
and replaced by new currency EUR. The conversion rate: 1 EUR = 30,1260 SKK.
The financial statements issued after 01.01.2009 have to be in EUR. In
order to compare the financial statements with previous years all financial
indicators were also converted by the new exchange rate.
The financial indicators are stated without decimal number. The differences
in total or sub-total rows may be caused by rounding of indicators.

Approximate Exchange Rates:

2010: 0,75 EUR = 1 USD 2009: 0,69 EUR = 1 USD 2008: 0,71 EUR = 1 USD 2007: 0,76 EUR = 1 USD

Financial data source:

2011: 2010: 2009: 2008:

Financial Comments:

The company is obliged by law to publish its financial statements. The financial data were submitted directly by the management of the researched company.

Bankers:

Tatra banka, a.s. - Account no. 2628834982/1100 811 06 Bratislava, Hodžovo námestie 3

Ratios:

	2011	2010	2009	2008
Current Ratio Current assets / Current liabilities	1,07	1,11	1,36	-
Quick Ratio (Current assets-Inventory) / Current liabilities	0,21	0,16	1,36	-
Leverage (%) Long-term liabilities / Equity*100	0,39	0	0	0
Debt Ratio (%) Sum of Liabilities/Total Assets*100	88,56	86,71	73,75	0
Equity ratio, in % Equity / Total liabilities * 100	11,44	13,29	26,25	100
Sales to Total Assets Turnover/Total Assets	1,55	0,43	0,86	0
Collection period in days Receivables / Turnover * 360	34,63	94,93	383,07	-
Liabilities Maturity date Liabilies / Turnover * 360	206,99	683,26	311,52	-
Inventory rotation in days Inventory / Turnover*360	178,96	653,84	0	-
Return on Sales (%) ROS Profit/Loss for accounting period/Turnover*100	NEGATIVE	13,17	22,17	NEGATIVE
Return on Assets (%) ROA Profit/Loss for accounting period/Total Assets*100	NEGATIVE	5,71	19,16	NEGATIVE
Return on Equity (%) ROE Profit/Loss for accounting period/Equity*100	NEGATIVE	42,97	72,97	NEGATIVE

ADDITIONAL INFORMATION

Contact With Company:

Tomáš Brychta

Right of Lien:

none entry

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.70
UK Pound	1	Rs.87.54
Euro	1	Rs.68.85

INFORMATION DETAILS

Report Prepared by :

PDT

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.