MIRA INFORM REPORT

 

 

Report Date :

28.07.2012

 

IDENTIFICATION DETAILS

 

Name :

COTTON SERVICE INTERNATIONAL GMBH

 

 

Registered Office :

Wachtstr. 17-24 D 28195 Bremen Post Box 10 65 62, D 28065 Bremen

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

19.06.2009

 

 

Com. Reg. No.:

HRB 25644 HB

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale of fruit and vegetables

 

 

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 :

Slow but 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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

 

Cotton Service International GmbH

 

Company Status:      active

                     Wachtstr. 17-24

                     D 28195 Bremen

                     Post Box:

                     10 65 62, D 28065 Bremen

                     Telephone:0421/3631040

                     Telefax:  0421/3631011

                     Homepage: www.csi-bremen.com

                     E-mail:   trade@csi-bremen.com

 

 

VAT no.         

 

DE266115142

 

Tax ID number      

 

71 560 01516

 

 

Registration data

 

LEGAL FORM               Private limited company

Date of foundation:         19.06.2009

Shareholders'

agreement:                    19.06.2009

Registered on:                25.06.2009

Commercial Register:     Local court 28195 Bremen

under:                                       HRB 25644 HB

 

 

Share capital                        

 

EUR             25,500.00

 

 

Shareholder

 

Detlev Trede

D 28195 Bremen

born: 19.01.1956

Share:             EUR              8,500.00

 

Shareholder:

Sascha Oliver Voß

D 28195 Bremen

born: 27.06.1973

Share:             EUR              8,500.00

 

Shareholder:

Axel Trede

Katrepeler Landstr. 18

D 28357 Bremen

born: 26.12.1961

Share:             EUR              8,500.00

 

Manager:

Detlev Trede

D 28195 Bremen

having sole power of representation

born: 19.01.1956

 

Manager:

Sascha Oliver Voß

D 28195 Bremen

having sole power of representation

born: 27.06.1973

 

Manager:

Axel Trede

Katrepeler Landstr. 18

D 28357 Bremen

having sole power of representation

born: 26.12.1961

 

 

FURTHER FUNCTIONS/PARTICIPATIONS OF DETLEV TREDE (MANAGER)

 

Limited partner:

Albrecht, Müller-Pearse & Co. (GmbH & Co.)

KG

Wachtstr. 17-24

D 28195 Bremen

Post Box:

10 76 29, D 28076 Bremen

Legal form: Ltd partnership with priv. ltd.

company as general partnerinsolvent

Total cap.         EUR          3,323,397.23

contribution:

Share:             EUR            132,935.89

Registeredon:         03.10.1919

Reg. data:  28195 Bremen, HRA 10895 HB

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

4631    Wholesale of fruit and vegetables

4719    Other retail sale in non-specialized stores

52299   Service activities incidental to transportation n.e.c.

 

 

FINANCIAL INFORMATION

 

Payment experience:  within periods customary in this trade

 

Negative information:We have no negative information at hand.

 

Balance sheet year:  2010

 

 

REAL ESTATE

 

Type of ownership:   Tenant

Address              Wachtstr. 17-24

                     D 28195 Bremen

 

Land register documents were not available.

 

 

BANKERS

 

A bank connection is unknown.

 

 

FINANCIAL FIGURES

 

Ac/ts receivable:                       EUR          2,409,929.00

Liabilities:                            EUR          2,632,248.00

The number of employees is not known.

 

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 [%]:                  4.71

Liquidity ratio:                   1.06

Return on total capital [%]:       2.27

 

Balance sheet ratios 19.06.2009 - 31.12.2009

Equity ratio [%]:                  5.59

Liquidity ratio:                   2.22

Return on total capital [%]:       3.69

 

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          3,070,233.41

 Fixed assets                           EUR              4,372.00

  Tangible assets                       EUR              4,372.00

   Other / unspecified tangible assets  EUR              4,372.00

 Current assets                         EUR          3,065,322.41

  Stocks                                EUR            302,571.87

  Accounts receivable                   EUR          2,409,928.92

   Other debtors and assets             EUR          2,409,928.92

  Liquid means                          EUR            352,821.62

 Remaining other assets                 EUR                539.00

  Accruals (assets)                     EUR                539.00

 

LIABILITIES                             EUR          3,070,233.41

 Shareholders' equity                   EUR            144,485.91

  Capital                               EUR             25,500.00

   Subscribed capital (share capital)   EUR             25,500.00

  Balance sheet profit/loss (+/-)       EUR            118,985.91

   Balance sheet profit / loss          EUR            118,985.91

 Provisions                             EUR            293,499.73

 Liabilities                            EUR          2,632,247.77

  Other liabilities                     EUR          2,632,247.77

   Unspecified other liabilities        EUR          2,632,247.77

 

Type of balance

sheet:               Company balance sheet

 

Financial year:      19.06.2009 - 31.12.2009

 

ASSETS                                  EUR          1,337,356.77

 Fixed assets                           EUR              1,348.00

  Tangible assets                       EUR              1,348.00

   Other / unspecified tangible assets  EUR              1,348.00

 Current assets                         EUR          1,335,822.63

  Accounts receivable                   EUR            980,806.12

   Other debtors and assets             EUR            980,806.12

  Liquid means                          EUR            355,016.51

 Remaining other assets                 EUR                186.14

  Accruals (assets)                     EUR                186.14

 

LIABILITIES                             EUR          1,337,356.77

 Shareholders' equity                   EUR             74,813.00

  Capital                               EUR             25,500.00

   Subscribed capital (share capital)   EUR             25,500.00

  Balance sheet profit/loss (+/-)       EUR             49,313.00

   Annual surplus / annual deficit      EUR             49,313.00

 Provisions                             EUR            466,460.14

 Liabilities                            EUR            796,083.63

  Other liabilities                     EUR            796,083.63

   Unspecified other liabilities        EUR            796,083.63

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.41

UK Pound

1

Rs.86.93

Euro

1

Rs.68.10

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.