MIRA INFORM REPORT
|
Report Date : |
13.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
LOVE FOR
DENIM B.V. |
|
|
|
|
Registered Office : |
Marienhoef
6 3851ST Ermelo |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
21.12.2006 |
|
|
|
|
Reg. No.: |
08153661 |
|
|
|
|
Legal Form : |
Besloten Vennootschap |
|
|
|
|
Line of Business : |
Wholesale of
textile basic materials and textile semi-finished products |
|
|
|
|
No. of Employees : |
20 |
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 |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Netherlands |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Netherlands - ECONOMIC OVERVIEW
The Dutch economy is the fifth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, a sizable trade surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009 as a result of the global financial crisis. The Dutch financial sector suffered, due in part to the high exposure of some Dutch banks to U.S. mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. The government also sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing fiscal consolidation measures in early 2011, mainly reductions in expenditures, which resulted in an improved budget deficit of 3.8% of GDP.
|
Source : CIA |
CONTACTINFORMATION
|
Company
name |
LOVE
FOR DENIM B.V. |
|
Tradename |
Vingino |
|
|
Vingino
Jeans |
|
|
Vingino
Blue Jeans |
|
|
Love
for Denim B.V. |
|
Address |
Marienhoef
6 |
|
|
3851ST
Ermelo |
|
|
Netherlands |
|
Mail
address |
Postbus
214 |
|
|
3850AE
Ermelo |
|
|
Netherlands |
|
Telephone
number |
0341562588 |
|
Telefax
number |
0341550686 |
|
E-mail
address |
|
|
Website |
|
|
VAT
number / RSIN |
817379502 |
COMPANY
INFORMATION
Handelsregisternummer
08153661
Registered in Chamber
of commerce Oost Netherlands
First registration 21-12-2006
Act of foundation 20-12-2006
Date of constitution 20-12-2006
Last change in statutes 17-11-2008
Legal form Besloten Vennootschap
Place of constitution gemeente
Ermelo
Issued capital 18.000
Paid up capital 18.000
|
NACE-code |
Wholesale
of textile basic materials and textile semi-finished products (51561) |
|
SBI-code |
Wholesale
of textile basic materials and textile semi-finished products (46761) |
|
Formal
objective |
De
import van- en wholesale of textiles |
|
Employees |
Total:
20 |
|
|
|
Employees
according to CoC |
Chamber
of commerce: 20 |
|
|
|
Bookyear |
2012 |
2011 |
2010 |
|
Number |
20 |
20 |
29 |
|
Change |
0,00% |
-31,03% |
31,82% |
COMPANY STRUCTURE
|
Shareholder |
VG
'97 Holding B.V. |
|
|
Marienhoef
6 |
|
|
3851ST
ERMELO |
|
|
Netherlands |
|
|
KvK:
34168031 |
|
|
Active
since: 20-12-2006 |
|
|
Percentage:
100.00% |
|
Ultimate
parent company |
L.B.
Beheer Ermelo B.V. |
|
|
Koninginnelaan
7 |
|
|
3851XX
ERMELO |
|
|
KvK:
08188254 |
|
Holding
company |
VG
'97 Holding B.V. |
|
|
Marienhoef
6 |
|
|
3851ST
ERMELO |
|
|
KvK:
34168031 |
|
Affiliated
companies |
MB
Real estate Ermelo B.V. |
|
|
Marienhoef
6 |
|
|
3851ST
ERMELO |
|
|
KvK:
08153653 |
Real estate Unknown
The real estate is checked at the land
registration office
MANAGEMENT
|
Management |
VG
'97 Holding B.V. |
|
|
Marienhoef
6 |
|
|
3851ST
ERMELO |
|
|
Netherlands |
|
|
KvK:
34168031 |
|
|
Authorization:
Fully authorized |
|
|
Position: Manager Date appointed: 20-12-2006 |
PAYMENT
INFORMATION
Payment experiences Payments are
regular, no complaints are known
Payments Based on
multiple payment experiences up to € 7.500
Quarter: 1 2012: 40 Average days
Quarter: 2 2012: 60 Average days
Quarter: 3 2012: 49 Average days
Quarter: 4 2012: 49 Average days
|
|
invoices |
current quarter |
2012 Q3 |
2012 Q2 |
2012 Q1 |
|
|
Total |
51 |
100% |
12.719 |
12.712 |
12.692 |
12.883 |
|
Within
terms |
28 |
56,5% |
7.188 |
7.058 |
5.359 |
9.933 |
|
Delayed
0 - 30 |
21 |
43,5% |
5.531 |
5.654 |
6.145 |
2.950 |
|
Delayed
31 - 60 |
2 |
0,0% |
|
|
1.188 |
|
|
Delayed 61 - 90 |
|
|
|
|
|
|
|
Delayed 91 - 120 |
|
|
|
|
|
|
|
Delayed 120+ days |
|
|
|
|
|
|
FINANCIAL
INFORMATION
Publication financial statement Annual
accounts 2011 are published on 13-11-2012
Annual accounts 2010 are published on
26-08-2011
Annual accounts 2009 are published on
24-08-2010
Annual accounts 2008 are published on
04-06-2009
Annual accounts 2007 are published on
17-04-2008
Type of publication Corporate
Publication Steady
CORE FIGURES
|
BOOKYEAR |
2011 |
2010 |
2009 |
|
Quick
ratio |
0,88 |
1,13 |
1,10 |
|
Current
ratio |
0,88 |
1,63 |
1,66 |
|
Nett
workingcapital / Balance total |
-0,08 |
0,35 |
0,35 |
|
Capital
and reserves / Balance total |
0,27 |
0,41 |
0,40 |
|
Capital
and reserves / Fixed assets |
0,67 |
3,73 |
3,29 |
|
Solvency |
0,39 |
0,75 |
0,74 |
|
Nett
workingcapital |
-813.708 |
2.603.532 |
2.026.626 |
|
Capital
and reserves |
2.675.104 |
3.065.717 |
2.300.500 |
|
Change
capital and reserves |
-12,74% |
33,26% |
-13,84% |
|
change
short term liabilities |
64,99% |
34,46% |
-18,04% |
|
Operating
profit |
3.455.174 |
4.834.863 |
5.378.585 |
|
Profitability
operating profit |
positive |
positive |
positive |
Annual accounts The company is obligated to publish its annual accounts
Last annual accounts 2011
Balancesheet
|
BOOKYEAR |
2011 |
2010 |
2009 |
|
End of bookyear |
31-12-2011 |
31-12-2010 |
31-12-2009 |
|
Tangible assets |
994.580 |
822.185 |
699.331 |
|
Financial assets |
2.983.025 |
|
|
|
Fixed assets |
3.977.605 |
822.185 |
699.331 |
|
|
|||
|
Stocks and work in
progress |
|
2.052.500 |
1.713.967 |
|
Accounts receivable |
5.942.283 |
4.635.426 |
3.360.606 |
|
Liquid assets |
11.510 |
17.381 |
2.687 |
|
Current assets |
5.953.793 |
6.705.307 |
5.077.260 |
|
Total assets |
9.931.398 |
7.527.492 |
5.776.591 |
|
|
|||
|
Capital and
reserves |
2.675.104 |
3.065.717 |
2.300.500 |
|
Provisions |
450.000 |
360.000 |
360.000 |
|
Long term
liabilities |
38.793 |
|
65.457 |
|
Total short term
debt |
6.767.501 |
4.101.775 |
3.050.634 |
|
Total debt |
7.256.294 |
4.461.775 |
3.476.091 |
|
Total Liabilities |
9.931.398 |
7.527.492 |
5.776.591 |
|
|
|||
|
PROFIT & LOSS
ACCOUNT |
|
|
|
|
BOOKYEAR |
2011 |
2010 |
2009 |
|
Gross profit |
12.416.654 |
11.688.184 |
11.323.120 |
|
Wages employees |
|
1.440.013 |
934.042 |
|
Depreciation and
amortization |
|
238.757 |
191.302 |
|
Other operating
charges |
|
5.174.551 |
4.819.191 |
|
Operating charges |
8.961.480 |
6.853.321 |
5.944.535 |
|
Operating profit |
3.455.174 |
4.834.863 |
5.378.585 |
|
Financial income |
4.352 |
49 |
|
|
Financial charges |
324.652 |
198.055 |
269.025 |
|
Financial result |
-320.300 |
-198.006 |
-269.025 |
|
Result before taxes |
3.134.874 |
4.636.857 |
5.109.560 |
|
Income taxes |
773.718 |
1.169.047 |
1.290.296 |
|
Result after taxes |
2.361.156 |
3.467.810 |
3.819.264 |
|
Extraordinary
income |
|
18.911 |
5.837 |
|
Extraordinary
charges |
|
28.130 |
5.000 |
|
Extraordinary
result |
|
9.219 |
837 |
|
Taxes on extraordinary
result |
|
-9.219 |
837 |
|
Extraordinary
result after taxes |
|
-9.219 |
837 |
|
Nett result |
2.361.156 |
3.458.591 |
3.820.101 |
Company
structure
- L.B. Beheer Ermelo B.V. (08188254)
ERMELO
- VG '97 Holding B.V. (34168031)
ERMELO
Subsidiary (100%)
- MB Real estate Ermelo B.V. (08153653)
ERMELO
Subsidiary
- Love for Denim B.V. (08153661)
Ermelo
Subsidiary (100%)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
|
1 |
Rs.87.43 |
|
Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.