MIRA INFORM REPORT

Report Date :

07.01.2012

IDENTIFICATION DETAILS

Name :	MAURER CARPETS FRANCE
Registered Office :	Maurer Carpets France, Parc D'activites Du Pays D'erstein, 4 Rue De Nairobi, 67150 Erstein
Country :	France
Financials (as on) :	31.12.2009
Date of Incorporation :	July 2007
Com. Reg. No.:	RCS Strasbourg B 498 788 173
Legal Form :	Simplified Joint Stock Company
Line of Business :	Wholesale business furniture, carpets and lighting equipment
No. of Employees :	9

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 :	105,000 €
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^th, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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

MAURER CARPETS FRANCE

Company Summary

Activity (APE)	Commerce de gros (commerce interentreprises) de meubles, de tapis et d'appareils d'éclairage (4647Z) (Wholesale (business to business) furniture, carpets and lighting equipment (4647Z))	Legal form	Simplified joint stock company
Phone		RCS Registration	RCS Strasbourg B 498 788 173
Fax		Share capital	37,000 Euros
Address	MAURER CARPETS FRANCE PARC D'ACTIVITES DU PAYS D'ERSTEIN 4 RUE DE NAIROBI 67150 ERSTEIN	Incorporated Date	07/2007
Nationality	France	Status	Economically active

Company Details
	Activity (APE)	Commerce de gros (commerce interentreprises) de meubles, de tapis et d'appareils d'éclairage  (4647Z) Wholesale business furniture, carpets and lighting equipment (4647Z)
	RCS Registration	RCS Strasbourg B 498 788 173	Share capital	37,000 Euros
	Registration Court	Strasbourg (67)	Legal form	Simplified joint stock company
	Court Registry Number	07 B 01539	EU VAT Number	FR45498788173
	Incorporation Date	07/2007	Formation Date	06/2007
	Deregistration Date		Last account Date	31/12/2009
	Nationality	France

Establishment details
	Activity (APE)	Commerce de gros (commerce interentreprises) de meubles, de tapis et d'appareils d'éclairage  (4647Z)	Business Pages FT®
	Postal Address	MAURER CARPETS FRANCE PARC D'ACTIVITES DU PAYS D'ERSTEIN 4 RUE DE NAIROBI 67150 ERSTEIN	Trading Address	4 RUE DE NAIROBI 67150 ERSTEIN
	Telephone
	Fax

	Type		Head office		Status		Economically active
	Formation Date		05/2009		Reason for formation		Other
	Closure Date				Reason for closure
	Reactivation Date				Production Role
	Activity Nature				Activity Location
	Location surface				Seasonality
Department		Bas-Rhin (67)		Region		Alsace
District				Area
City		ERSTEIN		Size of urban area

CREDIT RECOMENDATION

Current Credit Limit: 105,000 €

DIRECTORS/MANAGEMENT

Current Directors

1

directors

Name	M. HOSTETTER FREDERIC
Manager position	Président	Date of birth	29/05/1971
Place of birth	MULHOUSE
Type of manager	Individual	Name at birth of manager

Previous Directors

Vous pouvez consulter ici l'historique des dirigeants de l'entreprise.
Si vous souhaitez consulter l'historique d'un dirigeant, il vous suffit de cliquer sur le lien voir le détail pour y accéder.

Manager position

Title and name

Date of Birth/Place of Birth

NEGATIVE INFORMATION

Last published preferential right

This company is not under monitoring

judgements

Collective procedures

No judgment information for the company

  Social security, pension funds preferential rights | Tax office preferential rights

Preferential rights details and history

Status of collection

This company is not under monitoring

SHARE & SHARE CAPITAL INFORMATION

Na

PAYMENT INFORMATION

Na

GROUP STRUCTURE & AFFILIATED COMPANIES

Group data

This company is not identified as one of the biggest french chip.

Linkages

This company is not identified as one of the biggest french chip.

FINANCIAL INFORMATION

Trading to Date	12/31/2009		12/31/2008
	Turnover		6,342,977 €		4,925,144 €
		Gross Operating Surplus		14,16 % Turnover		13,66 % Turnover
		Net worth		916,969 €		440,063 €
		Employees		6 to 9 employees		-

Accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2009	31/12/2008
Account period (month)	12	12
Account Type	Normal	Normal
Deposit date	13/05/2011	13/05/2011
Activity Code	4647Z	4647Z
Employees	0	0	-

Active account

Annual Accounts	31/12/2009		31/12/2008	Sector Median 2009
Capital not called	0	0%	0	0	0%
Total fixed assets	185 890	82,9%	101 609	24 206,50	667,9%
- Intangible assets	77 752	-5,1%	81 968	53	146601,9%
- Tangible assets	108 138	450,6%	19 641	10 530,50	926,9%
- Financial assets	0	0%	0	1 683,50	0%
Net current assets	1 670 815	27,8%	1 307 774	207 529	705,1%
- Stocks	589 938	-7,5%	637 747	63 609	827,4%
- Advanced payments	12 644	27,8%	7 176	0	0%
- Receivables	815 646	53,2%	532 444	73 451,50	1010,5%
- Securities and cash	252 587	93,7%	130 407	20 361,50	1140,5%
- Prepaid expenses	-	-	-	16	-
Accounts of regularization	527	0%	0	0	0%
Total Assets	1 857 232	31,8%	1 409 383	261 514	610,2%

Passive Account

Annual Accounts	31/12/2009		31/12/2008	Sector Median 2009
Shareholders' equity	916 969	108,4%	440 063	51 314	1687,0%
Share capital	37 000	0%	37 000	10 000	270,0%
Other capital resources	0	0%	0	0	0%
Risk Provisions	3 400	357,0%	744	0	0%
Liabilities	936 864	-3,3%	968 577	199 566,50	369,4%
- Financial liabilities	77 406	-75,4%	315 037	25 593	202,4%
- Advanced payments received	0	0%	5 394	0	0%
- Trade account payables	600 995	19,5%	502 721	61 791,50	872,6%
- Tax and social liabilities	245 981	74,6%	140 879	47 058	422,7%
- Other debts and fixed assets liabilities	12 482	174,6%	4 546	9 500,50	31,4%
Account regularization	0	0%	0	0	0%
Total liabilities	1 857 233	31,8%	1 409 384	261 514	610,2%

Results

Annual Accounts	31/12/2009		31/12/2008	Sector Median 2009
Sales of Goods	6 592 980	31,1%	5 029 044	475 098,50	1287,7%
Net turnover	6 342 977	28,8%	4 925 144	474 087,50	1237,9%
- of which net export turnover	974 271	643,3%	131 077	0	0%
Operating charges	5 742 483	27,6%	4 501 271	474 078,50	1111,3%
Operating profit/loss	850 497	61,1%	527 773	7 607,50	11079,7%
Financial income	8 021	-34,4%	12 218	38,50	20733,8%
Financial charges	149 373	18,3%	126 290	1 235,50	11990,1%
Financial profit/loss	-141 352	-23,9%	-114 072	-545	-25836,1%
Pretax net operating income	709 145	71,4%	413 701	4 609,50	15284,4%
Extraordinary income	0	0%	0	10,50	0%
Extraordinary charges	1 164	580,7%	171	148	686,5%
Extraordinary profit/loss	-1 164	278992,4%	-171	0	0%
Net result	476 906	70,5%	279 769	3 724	12706,3%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2009	31/12/2008
Months	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2009		31/12/2008
	Grand Total (I to VI)	Net	1 857 232	31,8%	1 409 383
	Gross	CO	2 161 366	30,2%	1 660 567
	Amortisation	1A	304 134	21,1%	251 184

Non declared distributed capital (I)

		31/12/2009		31/12/2008
Non declared distributed capital (I)	AA3	0	0%	0
Gross	AA	0	0%	0

Active fixed asset (II)

			31/12/2009		31/12/2008
	Total Active fixed asset (II)	Net	185 890	82,9%	101 609
	Gross	BJ	223 465	101,0%	111 187
	Amortisation	BK	37 575	292,3%	9 578

Intangilble fixed assets

			31/12/2009		31/12/2008
	Start-up cost	Net	0	0%	0
	Gross	AB	0	0%	0
	Amortisation	AC	0	0%	0
	R & D expenses	Net	0	0%	0
	Gross	CX	0	0%	0
	Amortisation	AE	0	0%	0
	Distributorships, patents	Net	2 752	-60,5%	6 968
	Gross	AF	14 671	42,0%	10 334
	Amortisation	AG	11 919	254,1%	3 366
	Goodwill	Net	75 000	0%	75 000
	Gross	AH	75 000	0%	75 000
	Amortisation	AI	0	0%	0
	Other intangible fixed assets	Net	0	0%	0
	Gross	AJ	0	0%	0
	Amortisation	AK	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0
	Gross	AL	0	0%	0
	Amortisation	AM	0	0%	0
Sub Total Intangible Assets		Net	77 752	-5,1%	81 968

Tangible fixed assets

			31/12/2009		31/12/2008
	Lands	Net	0	0%	0
	Gross	AN	0	0%	0
	Amortisation	AO	0	0%	0
	Buildings	Net	0	0%	0
	Gross	AP	0	0%	0
	Amortisation	AQ	0	0%	0
	Plant	Net	10 053	9,5%	9 178
	Gross	AR	12 900	35,8%	9 500
	Amortisation	AS	2 847	784,2%	322
	Other tangible fixed assets	Net	98 085	837,4%	10 463
	Gross	AT	120 894	639,3%	16 353
	Amortisation	AU	22 809	287,2%	5 890
	Fixed assets in construction	Net	0	0%	0
	Gross	AV	0	0%	0
	Amortisation	AW	0	0%	0
	Advances and payments on account	Net	0	0%	0
	Gross	AX	0	0%	0
	Amortisation	AY	0	0%	0
	Sub Total Tangible asset	Net	108 138		19 641

Financial assets

			31/12/2009		31/12/2008
	Associates at equity	Net	0	0%	0
	Gross	CS	0	0%	0
	Amortisation	CT	0	0%	0
	Other participations	Net	0	0%	0
	Gross	CU	0	0%	0
	Amortisation	CV	0	0%	0
	Inter-company receivables	Net	0	0%	0
	Gross	BB	0	0%	0
	Amortisation	BC	0	0%	0
	Other investment securities	Net	0	0%	0
	Gross	BD	0	0%	0
	Amortisation	BE	0	0%	0
	Loans	Net	0	0%	0
	Gross	BF	0	0%	0
	Amortisation	BG	0		0
	Other financial assets	Net	0	0%	0
	Gross	BH	0	0%	0
	Amortisation	BI	0	0%	0
	Sub Total Financial Assets		0		0

Current Assets (III)

			31/12/2009		31/12/2008
	Total Assets	Net	1 670 815	27,8%	1 307 774
	Gross	CJ	1 937 374	25,0%	1 549 380
	Amortisation	CK	266 559	10,3%	241 606

Stocks

			31/12/2009		31/12/2008
	Raw materials	Net	0	0%	0
	Gross	BL	0	0%	0
	Amortisation	BM	0	0%	0
	Work in progress (goods)	Net	0	0%	0
	Gross	BN	0	0%	0
	Amortisation	BO	0	0%	0
	Work in progress (services)	Net	0	0%	0
	Gross	BP	0	0%	0
	Amortisation	BQ	0	0%	0
	Semi-finished and finished products	Net	0	0%	0
	Gross	BR	0	0%	0
	Amortisation	BS	0	0%	0
	Goods for resale	Net	589 938	-7,5%	637 747
	Gross	BT	856 497	-2,5%	878 903
	Amortisation	BU	266 559	10,5%	241 156
	Sub Total Stocks	Net	589 938	-7,5%	637 747

Advance payments to suppliers

			31/12/2009		31/12/2008
	Advance payments to suppliers	Net	12 644	76,2%	7 176
	Gross	BV	12 644	76,2%	7 176
	Amortisation	BW	0	0%	0

Debtors

			31/12/2009		31/12/2008
	Trade accounts receivable	Net	478 396	186,1%	167 208
	Gross	BX	478 396	185,3%	167 658
	Amortisation	BY	0	0%	450
	Other debtors	Net	23 998	-26,9%	32 825
	Gross	BZ	23 998	-26,9%	32 825
	Amortisation	CA	0	0%	0
	Capital subscribed and called up	Net	0	0%	0
	Gross	CB	0	0%	0
	Amortisation	CC	0	0%	0
	Sub Total Debtors	Net	502 394	151,2%	200 033

Divers

			31/12/2009		31/12/2008
	Investment securities	Net	531	-99,3%	81 424
	Gross	CD	531	-99,3%	81 424
	Amortisation	CE	0	0%	0
	Cash and cash equivalents	Net	252 056	414,6%	48 983
	Gross	CF	252 056	414,6%	48 983
	Amortisation	CG	0	0%	0
	Sub Total Divers	Net	252 587	93,7%	130 407

Prepaid expenses

			31/12/2009		31/12/2008
	Prepaid expenses	Net	313 252	-5,8%	332 411
	Gross	CH	313 252	-5,8%	332 411
	Amortisation	CI	0	0%	0

Equalization accounts (IV to VI)

		31/12/2009		31/12/2008
Multi-period charges	CW3	0	0%	0
Gross		0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0
Gross		0	0%	0
Currency differential gain	CN3	527	0%	0
Gross		527	0%	0

References

		31/12/2009		31/12/2008
Due within one year	CP	0	0%	0
Due after one year	CR	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Accounts - Passive
Other capital resources | Provisions for risks and charges | Liabilities | Translation loss | Equalization accounts | References

Grand Total - Passive Accounts (I to IV)

		31/12/2009		31/12/2008
Grand Total (I to V)	EE	1 857 233	31,8%	1 409 384

Shareholder Equity (I)

			31/12/2009		31/12/2008
	Total shareholders' equity (Total I)	DL	916 969	108,4%	440 063
	Equity and shareholders' equity	DA	37 000	0%	37 000
	Issue and merger premiums	DB	0	0%	0
	Revaluation differentials	DC	0	0%	0
	Of which equity differential	EK	0	0%	0
	Legal reserve	DD	3 700	0%	3 700
	Statutory or contractual reserve	DE	0	0%	0
	Special regulated reserves	DF	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0
	Other reserves	DG	399 000	233,9%	119 500
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%
	Profits or losses brought forward	DH	363	286,2%	94
	Profit or loss for the period	DI	476 906	70,5%	279 769
	Investment grants	DJ	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0

Other capital resources (II)

			31/12/2009		31/12/2008
	Total other capital resources (Total II)	DO	0	0%	0
	Income from participating securities	DM	0	0%	0
	Conditional loans	DN	0	0%	0

Provisions for risks and charges (III)

			31/12/2009		31/12/2008
	Total provisions for risks and charges (Total III)	DR	3 400	357,0%	744
	Risk provisions	DP	3 400	357,0%	744
	Reserves for charges	DQ	0	0%	0

Liabilities (IV)

			31/12/2009		31/12/2008
	Total Liabilities (Total IV)	EC	936 864	-3,3%	968 577
	Convertible debentures	DS	0	0%	0
	Other debentures	DT	0	0%	0
	Bank loans and liabilities	DU	973	-33,7%	1 468
	Sundry loans and financial liabilities	DV	76 433	-75,6%	313 569
	Of which participating loans	EI	0	0%	0
	Advance payments received for current orders	DW	0	0%	5 394
	Trade accounts payables	DX	600 995	19,5%	502 721
	Tax and social security liabilities	DY	245 981	74,6%	140 879
	Fixed asset liabilities	DZ	0	0%	1 310
	Other debts	EA	12 482	285,7%	3 236

Translation loss (V)

		31/12/2009		31/12/2008
Translation loss (Total V)	ED	0	0%	0

Equalization accounts

		31/12/2009		31/12/2008
Deferred income	EB	0	0%	0

References

		31/12/2009		31/12/2008
Of which tax-allowable reserve	EF	0	0%	0
Deferred income and liabilities	EG	0	0%	0
Of which current bank facilities	EH	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Result account
Sales of Goods | Operating charges | Operating charges | Financial income | Financial charges | Financial charges | Extraordinary charges | Employee profit sharing | Tax on profits | References

1- Operating result (I-II)

		31/12/2009		31/12/2008
Operating result (Total I-II)	GG	850 497	61,1%	527 773

2 - Financial result (V - VI)

		31/12/2009		31/12/2008
Financial result (Total V-VI)	GV	-141 352	-23,9%	-114 072

3 - Pre-tax net operating income result (I - VI)

		31/12/2009		31/12/2008
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	709 145	71,4%	413 701

4 - Extraordinary result (VII-VIII)

		31/12/2009		31/12/2008
Extraordinary result (Total VII-VIII)	HI	-1 164	-580,7%	-171

Profit or loss

		31/12/2009		31/12/2008
Profit or loss	HN	476 906	70,5%	279 769

Total Income (I+III+V+VII)

		31/12/2009		31/12/2008
Total Income (I+III+V+VII)	HL	6 600 999	30,9%	5 041 262

Total charges (Total II+IV+VI+VIII+IX+X)

		31/12/2009		31/12/2008
Total charges (Total II+IV+VI+VIII+IX+X)	HM	6 124 093	28,6%	4 761 493

Operating income (I)

		31/12/2009		31/12/2008
Total operating income (Total I)	FR	6 592 980	31,1%	5 029 044

Operating income (details)

			31/12/2009		31/12/2008
	Sale of goods for resale	FC	6 323 739	29,3%	4 891 248
	France	FA	5 350 323	11,7%	4 789 960
	Export	FB	973 416	861,0%	101 288
	Sale of goods produced	FF	0	0%	0
	France	FD	0	0%	0
	Export	FE	0	0%	0
	Sale of services	FI	19 238	-43,2%	33 896
	France	FG	18 383	347,6%	4 107
	Export	FH	855	-97,1%	29 789
	Net turnover	FL	6 342 977	28,8%	4 925 144
	France	FJ	5 368 706	12,0%	4 794 067
	Export	FK	974 271	643,3%	131 077
	Stocked production	FM	0	0%	0
	Self-constructed assets	FN	0	0%	0
	Operating grants	FO	0	0%	0
	Release of reserves and provisions	FP	250 000	140,7%	103 884
	Other income	FQ	03	-81,2%	16

Operating charges (II)

		31/12/2009		31/12/2008
Total operating charges (Total II)	GF	5 742 483	27,6%	4 501 271

Exploitation charges

		31/12/2009		31/12/2008
Purchase of goods for resale	FS	3 805 084	9,8%	3 465 682
Change in stocks of goods for resale	FT	22 406	104,9%	-454 893
Purchase of raw materials	FU	17 744	42,3%	12 466
Change in stocks of raw materials	FV	0	0%	0
Other external purchases and charges	FW	1 166 852	23,2%	947 175
Tax, duty and similar payments	FX	20 882	40,9%	14 818
Payroll	FY	303 720	57,0%	193 449
Social security costs	FZ	108 255	46,6%	73 819

Depreciation

		31/12/2009		31/12/2008
Depreciation of fixed assets	GA	27 998	338,8%	6 380
Amortisation of fixed assets	GB	0	0%	0
Depreciation/amortisation of current assets	GC	266 559	10,3%	241 606
Provisions for risks and charges	GD	2 873	286,2%	744

Other charges

		31/12/2009		31/12/2008
Other charges	GE	110	340,0%	25

Operating charges (III-IV)

		31/12/2009		31/12/2008
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0

Financial income (V)

			31/12/2009		31/12/2008
	Total financial income (Total V)	GP	8 021	-34,4%	12 218
	Share financial income	GJ	0	0%	0
	Other investment income & capitalised receivables	GK	0	0%	0
	Other interest and similar income	GL	5 054	-15,4%	5 971
	Released provisions and transferred charges	GM	0	0%	0
	Exchange gains	GN	2 874	-49,4%	5 678
	Net income from disposal of investment securities	GO	93	-83,7%	569

Financial Charge (VI)

			31/12/2009		31/12/2008
	Total financial charge (Total VI)	GU	149 373	18,3%	126 290
	Financial reserves and provisions	GQ	527	0%	0
	Interest and similar charges	GR	143 448	16,2%	123 499
	Exchange losses	GS	5 398	93,4%	2 791
	Net loss from disposal of investment securities	GT	0	0%	0

Financial Charge (VII)

			31/12/2009		31/12/2008
	Total extraordinary income (Total VII)	HD	0	0%	0
	Extraordinary operating income	HA	0	0%	0
	Extraordinary income from capital transactions	HB	0	0%	0
	Released provisions and transferred charges	HC	0	0%	0

Extraordinary charges (VIII)

			31/12/2009		31/12/2008
	Total extraordinary charges (Total VIII)	HH	1 164	580,7%	171
	Extraordinary operating charges	HE	1 164	580,7%	171
	Extraordinary charges from capital transactions	HF	0	0%	0
	Extraordinary reserves and provisions	HG	0	0%	0

Employee profit sharing (IX)

		31/12/2009		31/12/2008
Employee profit sharing (Total IX)	HJ	0	0%	0

Tax on profits (X)

		31/12/2009		31/12/2008
Tax on profits (Total X)	HK	231 074	72,8%	133 761

References

		31/12/2009		31/12/2008
Of which equipment leases	HP	11 336	0%	11 336
Of which property leases	HQ	0	0%	0
Of which transferred charges	A1	0	0%	0
Of which trader's own contributions	A2	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Other incomer tax return forms
Reserve for depreciation | Provisions included in balance sheet | State deadlines claims and debts at the end of period
Table allocation results and other information

Fixed Assets
Grand Total Fixed Assets (I to IV)

			31/12/2009		31/12/2008
	Gross value at begin of period	OG	0	0%	0
	Increasess due to revaluation	OH	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	0
	Decreasess by budget item transfer	OK1	0	0%	0
	Decreasess by transfers	OK2	0	0%	0
	Gross value at the end of period	OL	0	0%	111 187

Research and development Charge (Total I)

			31/12/2009		31/12/2008
	Gross value at begin of period	CZ	0	0%	0
	Increasess due to revaluation	KB	0	0%	0