MIRA INFORM REPORT

 

 

Report Date :

18.02.2012

 

IDENTIFICATION DETAILS

 

Name :

CUBUS GMBH

 

 

Registered Office :

Hamburger Str. 146  D 22083 Hamburg

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

10.01.2002

 

 

Com. Reg. No.:

HRB 82793

 

 

Legal Form :

Private limited company

 

 

Line of Business :

Retail sale of clothing

 

 

No. of Employees :

56

 

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 :

106,500 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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Germany

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

 Cubus GmbH

 

 Company Status:      active

                      Hamburger Str. 146

                      D 22083 Hamburg

                      Telephone:040/702960-0

                      Telefax:  040/702960-29

                      Homepage: www.cubus.com

                      E-mail:   customerservice_germany@cubus.com

 

 

VAT no.          

 

 DE813346796

 

 

CONCLUSION

 

 Business relations are permissible.

 

 

Registration data

 

 LEGAL FORM              Private limited company

 Date of foundation:        10.01.2002

 Shareholders'

 agreement:                   10.01.2002

 Registered on:               20.02.2002

 Commercial Register:    Local court 20355 Hamburg

 under:                          HRB 82793

 

 

Share capital                         

 

EUR             25,000.00

 

 

Shareholder

 

Cubus AS

Bergerveien 5

N 1396 Billingstad

Legal form: Other legal form

Share:             EUR             25,000.00

 

Manager:

Marius Varner N  .

Nationality: Norwegian

 

Manager:

Petter Marius Oksebaas N  .

Nationality: Norwegian

 

Manager:

Randy Slette Haavi N  .

Nationality: Norwegian

 

Manager:

Michael Otto

Mittelkamp 22

D 22043 Hamburg

having sole power of representation

born: 10.12.1965

Profession: Fully qualified merchant

Marital status: married

 

Proxy:

Oliver Buck

D 22111 Hamburg

having sole power of representation

born: 19.03.1968

 

 

Further functions/participations of Michael Otto

(Manager)

 

Shareholder:

Good Life Sports GmbH

Apenrader Str. 24

D 25421 Pinneberg

Legal form: Private limited company

insolvent

Share capital:     EUR             25,000.00

Share:             EUR             12,500.00

Registered

on:         31.07.2000

Reg. data:  25421 Pinneberg, HRB 5082 PI

 

Manager:

Dressmann GmbH

Hamburger Str. 146

D 22083 Hamburg

Legal form: Private limited company

Share capital:     EUR             25,000.00

Registered

on:         16.05.2003

Reg. data:  20355 Hamburg, HRB 87245

 

 

COMPANY HISTORY

 

 20.02.2002 - 01.05.2011  Cubus GmbH

                          Billstedter Platz 39k

                          D 22111 Hamburg

                          Private limited company

 

 

BUSINESS ACTIVITIES

 

 Sectors

 47710   Retail sale of clothing

 

 

BRANCHES AND FACTORIES

 

Works:

Cubus GmbH

Hamburger Str. 19-47

D 22083 Hamburg

 

 

FINANCIAL INFORMATION

 

 Payment experience:  within agreed terms

 

 Negative information:We have no negative information at hand.

 

 Maximum credit:      106,500 EUR

 

 Balance sheet year:  2010

 

 

REAL ESTATE

 

Type of ownership:   Tenant

 Address              Hamburger Str. 146

                      D 22083 Hamburg

 

 Real Estate of:      Michael Otto

 Type of ownership:   proprietor

 Share:                100.00 %

 Address              Mittelkamp 22

                      D 22043 Hamburg

 

 Real Estate of:      Michael Otto

 Type of ownership:   proprietor

 Share:                100.00 %

 Address              Wichelwisch 16a

                      D 22045 Hamburg

 

 Land register documents were not available.

 

 

BANKERS

 

 DEUTSCHE BANK, HAMBURG

 Sort. code: 20070000, BIC: DEUTDEHHXXX

 DNB BANK ASA - FILIALE DEUTSCHLAND, HAMBURG

 Sort. code: 20220100, Account no.: 50118007, BIC: DNBADEHXXXX

 

 

FINANCIAL FIGURES

 

 Turnover:            2010               EUR          5,700,000.00

                      2011               EUR          5,320,000.00

 Profit:              2010               EUR           -722,595.00

 further business figures:

 Equipment:                              EUR            504,000.00

 Ac/ts receivable:                       EUR            858,953.00

 Liabillities:                           EUR            426,850.00

 Employees:                                                     56

 - Temporary workers:                                           20

 

 The aforementioned business figures may partly be estimated

 information based on average values in the line of business.

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                 84.57

 Liquidity ratio:                   4.00

 Return on total capital [%]:     -21.20

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                 88.38

 Liquidity ratio:                  10.00

 Return on total capital [%]:     -46.50

 

 Balance sheet ratios 01.01.2008 - 31.12.2008

 Equity ratio [%]:                 93.39

 Liquidity ratio:                  10.00

 Return on total capital [%]:     -61.84

 

 Balance sheet ratios 01.01.2007 - 31.12.2007

 Equity ratio [%]:                 90.21

 Liquidity ratio:                  10.00

 Return on total capital [%]:     -45.57

 

 Equity ratio

 The equity ratio indicates the portion of the equity as compared

 to the total capital. The higher the equity ratio, the better the

 economic stability (solvency) and thus the financial autonomy of

 a company.

 

 Liquidity ratio

 The liquidity ratio shows the proportion between adjusted

 receivables and net liabilities. The higher the ratio, the lower

 the company's financial dependancy from external creditors.

 

 Return on total capital

 The return on total capital shows the efficiency and return on

 the total capital employed in the company. The higher the return

 on total capital, the more economically does the company work

 with the invested capital.

 

Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2010 - 31.12.2010

 

 ASSETS                                  EUR          3,407,747.39

  Fixed assets                           EUR            834,480.93

   Tangible assets                       EUR            834,480.93

    Other / unspecified tangible assets  EUR            834,480.93

  Current assets                         EUR          2,571,590.92

   Stocks                                EUR          1,550,784.85

    Finished goods / work in progress    EUR          1,370,351.07

    Advance payments made                EUR            180,433.78

   Accounts receivable                   EUR            858,953.00

    Trade debtors                        EUR             41,425.95

    Amounts due from related companies   EUR            810,787.40

    Other debtors and assets             EUR              6,739.65

   Liquid means                          EUR            161,853.07

  Remaining other assets                 EUR              1,675.54

   Accruals (assets)                     EUR              1,675.54

 

 LIABILITIES                             EUR          3,407,747.39

  Shareholders' equity                   EUR          2,831,563.04

   Capital                               EUR             25,000.00

    Subscribed capital (share capital)   EUR             25,000.00

   Reserves                              EUR         16,500,000.00

    Capital reserves                     EUR         16,500,000.00

   Balance sheet profit/loss (+/-)       EUR        -13,693,436.96

    Profit / loss brought forward        EUR        -12,970,841.95

    Annual surplus / annual deficit      EUR           -722,595.01

  Provisions                             EUR            149,334.39

   Other / unspecified provisions        EUR            149,334.39

  Liabilities                            EUR            426,849.96

   thereof total due to shareholders     EUR             50,317.72

   Other liabilities                     EUR            426,849.96

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR            180,260.82

    Liabililties due to related companiesEUR            150,416.48

    Unspecified other liabilities        EUR             96,172.66

     thereof liabilities from tax /

     financial authorities               EUR             55,814.98

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2009 - 31.12.2009

 

 ASSETS                                  EUR          2,889,921.33

  Fixed assets                           EUR          1,059,674.85

   Tangible assets                       EUR          1,059,674.85

    Other / unspecified tangible assets  EUR          1,059,674.85

  Current assets                         EUR          1,827,131.10

   Stocks                                EUR          1,145,367.90

    Finished goods / work in progress    EUR          1,020,402.23

    Advance payments made                EUR            124,965.67

   Accounts receivable                   EUR            482,504.08

    Trade debtors                        EUR             31,149.62

    Amounts due from related companies   EUR            432,143.71

    Other debtors and assets             EUR             19,210.75

   Liquid means                          EUR            199,259.12

  Remaining other assets                 EUR              3,115.38

   Accruals (assets)                     EUR              3,115.38

 

 LIABILITIES                             EUR          2,889,921.33

  Shareholders' equity                   EUR          2,554,158.05

   Capital                               EUR             25,000.00

    Subscribed capital (share capital)   EUR             25,000.00

   Reserves                              EUR         15,500,000.00

    Capital reserves                     EUR         15,500,000.00

   Balance sheet profit/loss (+/-)       EUR        -12,970,841.95

    Profit / loss brought forward        EUR        -11,626,969.02

    Annual surplus / annual deficit      EUR         -1,343,872.93

  Provisions                             EUR            102,158.72

   Other / unspecified provisions        EUR            102,158.72

  Liabilities                            EUR            233,604.56

   Other liabilities                     EUR            233,604.56

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR            141,854.90

    Liabililties due to related companiesEUR             42,954.16

    Unspecified other liabilities        EUR             48,795.50

     thereof liabilities from tax /

     financial authorities               EUR             21,897.86

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.21

UK Pound

1

Rs.77.75

Euro

1

Rs.64.58

 

 

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.