MIRA INFORM REPORT

Report Date :

06.03.2012

IDENTIFICATION DETAILS

Name :	ARIANTA
Registered Office :	12 Rue De La Centenaire, 59170 Croix
Country :	France
Financials (as on) :	31.12.2010
Date of Incorporation :	December 2009
Com. Reg. No.:	RCS Roubaix-Tourcoing 0 519 190 136
Legal Form :	Simplified Joint Stock Company with Single Associate
Line of Business :	Distance selling on catalog
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Poor
Payment Behaviour :	Unknown
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

Company Summary

Trading Address : 1444 Route Nationale 20 45770 Saran, France

Activity (APE)	Vente à distance sur catalogue général (4791A) (Distance selling on catalog ))	Legal form	Simplified Joint Stock Company with Single Associate
Phone		RCS Registration	RCS Roubaix-Tourcoing 0 519 190 136
Fax
Address	ARIANTA 12 RUE DE LA CENTENAIRE 59170 CROIX	Incorporated Date	12/2009
Nationality	France	Status	Economically active

DIRECTORS/MANAGEMENT

Current Directors

1

Trading to Date	12/31/2010
Turnover	79,256,152 €
Gross Operating Surplus	-2,68 % Turnover
Net worth	-6,781,472 €
Employees	0 employee

Directors

Name	Mme. CHAVENT ELIANE
Manager position	Président	Date of birth	12/07/1959
Place of birth	69 LYON
Type of manager	Individual	Name at birth of manager	BRASSIER

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
Président	M JEAN-MARC BERNARD
Président	M JEAN-MARC BERNARD
Président	Mme ELIANE CHAVENT
Président	M PHILIPPE GUILLAUMIE

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the company

SHARE & SHARE CAPITAL INFORMATION

Share capital

200,096 Euros

Groups and Shareholders

		31/12/2010
Groups and Shareholders	ZR	0

PAYMENT INFORMATION

Na

GROUP STRUCTURE & AFFILIATED COMPANIES

Ultimate Holding Company
	Company Name	Company number
	SCA VALMA	351813233	7 companies in 4 countries.

Ultimate Parent

1 ultimate parent company for this company >  SCA VALMA  - Fonds de placement et entités financières similaires (6430Z)  in ROUBAIX  (59100)

FINANCIAL INFORMATION

Accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2010
Account period (month)	12
Account Type	Normal
Deposit date	03/10/2011
Activity Code	4791A
Employees	110	-	-

Active account

Annual Accounts	31/12/2010	Sector Median 2010
Capital not called	0	0	0%
Total fixed assets	271 662	4 113	6505,0%
- Intangible assets	101 049	104	97062,5%
- Tangible assets	39 027	988,50	3848,1%
- Financial assets	131 583	0	0%
Net current assets	29 377 484	42 865	68434,9%
- Stocks	19 165 007	7 968	240424,7%
- Advanced payments	774 800	0	0%
- Receivables	8 513 539	7 134,50	119229,2%
- Securities and cash	924 138	8 677,50	10549,8%
- Prepaid expenses	-	0	-
Accounts of regularization	0	0	0%
Total Assets	29 649 147	51 957	56964,8%

Passive Account

Annual Accounts	31/12/2010	Sector Median 2010
Shareholders' equity	-6 781 472	8 595,50	-78995,6%
Share capital	10 000	8 000	25,0%
Other capital resources	0	0	0%
Risk Provisions	1 507 854	0	0%
Liabilities	34 847 244	39 248	88687,3%
- Financial liabilities	2 072 930	2 901	71355,7%
- Advanced payments received	675 007	0	0%
- Trade account payables	27 119 360	9 071,50	298851,2%
- Tax and social liabilities	2 621 041	7 863	33233,9%
- Other debts and fixed assets liabilities	2 260 822	3 696,50	61061,2%
Account regularization	173 602	0	0%
Total liabilities	29 649 147	52 186	56714,4%

Results

Annual Accounts	31/12/2010	Sector Median 2010
Sales of Goods	79 788 534	83 615,50	95323,1%
Net turnover	79 256 152	81 030,50	97710,3%
- of which net export turnover	0	0	0%
Operating charges	86 169 998	87 245,50	98667,3%
Operating profit/loss	-6 381 464	-228,50	-2792663,2%
Financial income	195 732	0	0%
Financial charges	18 722	70,50	26456,0%
Financial profit/loss	177 010	0	0%
Pretax net operating income	-6 204 454	-373,50	-1661065,7%
Extraordinary income	171 343	0	0%
Extraordinary charges	774 901	0	0%
Extraordinary profit/loss	-603 558	0	0%
Net result	-6 808 012	34	-20023664,7%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2010
Months	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2010
	Grand Total (I to VI)	Net	29 649 147
	Gross	CO	32 533 354
	Amortisation	1A	2 884 207

Non declared distributed capital (I)

		31/12/2010
Non declared distributed capital (I)	AA3	0
Gross	AA	0

Active fixed asset (II)

			31/12/2010
	Total Active fixed asset (II)	Net	271 662
	Gross	BJ	280 362
	Amortisation	BK	8 700

Intangilble fixed assets

			31/12/2010
	Start-up cost	Net	0
	Gross	AB	0
	Amortisation	AC	0
	R & D expenses	Net	0
	Gross	CX	0
	Amortisation	AE	0
	Distributorships, patents	Net	26 049
	Gross	AF	33 512
	Amortisation	AG	7 462
	Goodwill	Net	0
	Gross	AH	0
	Amortisation	AI	0
	Other intangible fixed assets	Net	0
	Gross	AJ	0
	Amortisation	AK	0
	Pre-payments and downpayments	Net	75 000
	Gross	AL	75 000
	Amortisation	AM	0
Sub Total Intangible Assets		Net	101 049

Tangilble fixed assets

			31/12/2010
	Lands	Net	0
	Gross	AN	0
	Amortisation	AO	0
	Buildings	Net	0
	Gross	AP	0
	Amortisation	AQ	0
	Plant	Net	3 698
	Gross	AR	3 800
	Amortisation	AS	101
	Other tangible fixed assets	Net	15 329
	Gross	AT	16 467
	Amortisation	AU	1 137
	Fixed assets in construction	Net	0
	Gross	AV	0
	Amortisation	AW	0
	Advances and payments on account	Net	20 000
	Gross	AX	20 000
	Amortisation	AY	0
	Sub Total Tangible asset	Net	39 027

Financial assets

			31/12/2010
	Associates at equity	Net	0
	Gross	CS	0
	Amortisation	CT	0
	Other participations	Net	0
	Gross	CU	0
	Amortisation	CV	0
	Inter-company receivables	Net	0
	Gross	BB	0
	Amortisation	BC	0
	Other investment securities	Net	0
	Gross	BD	0
	Amortisation	BE	0
	Loans	Net	0
	Gross	BF	0
	Amortisation	BG	0
	Other financial assets	Net	131 583
	Gross	BH	131 583
	Amortisation	BI	0
	Sub Total Financial Assets		131 583

Current Assets (III)

			31/12/2010
	Total Assets	Net	29 377 484
	Gross	CJ	32 252 988
	Amortisation	CK	2 875 504

Stocks

			31/12/2010
	Raw materials	Net	260 426
	Gross	BL	260 426
	Amortisation	BM	0
	Work in progress (goods)	Net	0
	Gross	BN	0
	Amortisation	BO	0
	Work in progress (services)	Net	0
	Gross	BP	0
	Amortisation	BQ	0
	Semi-finished and finished products	Net	0
	Gross	BR	0
	Amortisation	BS	0
	Goods for resale	Net	18 904 581
	Gross	BT	20 830 263
	Amortisation	BU	1 925 682
	Sub Total Stocks	Net	19 165 007

Advance payments to suppliers

			31/12/2010
	Advance payments to suppliers	Net	774 800
	Gross	BV	774 800
	Amortisation	BW	0

Debtors

			31/12/2010
	Trade accounts receivable	Net	3 191 296
	Gross	BX	3 785 054
	Amortisation	BY	593 758
	Other debtors	Net	4 139 834
	Gross	BZ	4 495 898
	Amortisation	CA	356 064
	Capital subscribed and called up	Net	0
	Gross	CB	0
	Amortisation	CC	0
	Sub Total Debtors	Net	7 331 130

Divers

			31/12/2010
	Investment securities	Net	0
	Gross	CD	0
	Amortisation	CE	0
	Cash and cash equivalents	Net	924 138
	Gross	CF	924 138
	Amortisation	CG	0
	Sub Total Divers	Net	924 138

Prepaid expenses

			31/12/2010
	Prepaid expenses	Net	1 182 409
	Gross	CH	1 182 409
	Amortisation	CI	0

Equalization accounts (IV to VI)

		31/12/2010
Multi-period charges	CW3	0
Gross		0
Premiums on redemption of bonds	CM3	0
Gross		0
Currency differential gain	CN3	0
Gross		0

References

		31/12/2010
Due within one year	CP	38 063
Due after one year	CR	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)

		31/12/2010
Grand Total (I to V)	EE	29 649 147

Shareholder Equity (I)

			31/12/2010
	Total shareholders' equity (Total I)	DL	-6 781 472
	Equity and shareholders' equity	DA	10 000
	Issue and merger premiums	DB	0
	Revaluation differentials	DC	0
	Of which equity differential	EK	0
	Legal reserve	DD	0
	Statutory or contractual reserve	DE	0
	Special regulated reserves	DF	0
	Of which special reserve of provisions for current fluctuation	B1	0
	Other reserves	DG	0
	Of which reserve for buying originals works from alive artists	EJ	0
	Profits or losses brought forward	DH	-242
	Profit or loss for the period	DI	-6 808 012
	Investment grants	DJ	0
	Special tax-allowable reserves	DK	16 782

Other capital resources (II)

			31/12/2010
	Total other capital resources (Total II)	DO	0
	Income from participating securities	DM	0
	Conditional loans	DN	0

Provisions for risks and charges (III)

			31/12/2010
	Total provisions for risks and charges (Total III)	DR	1 507 854
	Risk provisions	DP	813 373
	Reserves for charges	DQ	694 481

Liabilities (IV)

			31/12/2010
	Total Liabilities (Total IV)	EC	34 847 244
	Convertible debentures	DS	0
	Other debentures	DT	0
	Bank loans and liabilities	DU	72 930
	Sundry loans and financial liabilities	DV	2 000 000
	Of which participating loans	EI	0
	Advance payments received for current orders	DW	675 007
	Trade accounts payables	DX	27 119 360
	Tax and social security liabilities	DY	2 621 041
	Fixed asset liabilities	DZ	0
	Other debts	EA	2 185 304

Translation loss (V)

		31/12/2010
Translation loss (Total V)	ED	75 518

Equalization accounts

		31/12/2010
Deferred income	EB	173 602

References

		31/12/2010
Of which tax-allowable reserve	EF	0
Deferred income and liabilities	EG	34 172 239
Of which current bank facilities	EH	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)

		31/12/2010
Operating result (Total I-II)	GG	-6 381 464

2 - Financial result (V - VI)

		31/12/2010	b
Financial result (Total V-VI)	GV	177 010

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

		31/12/2010
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	-6 204 454

4 - Extraordinary result (VII-VIII)

		31/12/2010
Extraordinary result (Total VII-VIII)	HI	-603 558

Profit or loss

		31/12/2010
Profit or loss	HN	-6 808 012

Total Income (I+III+V+VII)

		31/12/2010
Total Income (I+III+V+VII)	HL	80 155 609

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

		31/12/2010
Total charges (Total II+IV+VI+VIII+IX+X)	HM	86 963 621

Operating income (I)

		31/12/2010
Total operating income (Total I)	FR	79 788 534

Operating income (details)

			31/12/2010
	Sale of goods for resale	FC	69 491 932
	France	FA	69 491 932
	Export	FB	0
	Sale of goods produced	FF	3 107
	France	FD	3 107
	Export	FE	0
	Sale of services	FI	9 761 113
	France	FG	9 761 113
	Export	FH	0
	Net turnover	FL	79 256 152
	France	FJ	79 256 152
	Export	FK	0
	Stocked production	FM	0
	Self-constructed assets	FN	0
	Operating grants	FO	0
	Release of reserves and provisions	FP	242 871
	Other income	FQ	289 511

Operating charges (II)

		31/12/2010
Total operating charges (Total II)	GF	86 169 998

Exploitation charges

		31/12/2010
Purchase of goods for resale	FS	43 884 899
Change in stocks of goods for resale	FT	-20 830 263
Purchase of raw materials	FU	427 143
Change in stocks of raw materials	FV	-89 083
Other external purchases and charges	FW	52 013 485
Tax, duty and similar payments	FX	626 104
Payroll	FY	3 796 079
Social security costs	FZ	1 554 663

Depreciation

		31/12/2010
Depreciation of fixed assets	GA	8 701
Amortisation of fixed assets	GB	0
Depreciation/amortisation of current assets	GC	2 875 505
Provisions for risks and charges	GD	1 507 854

Other charges

		31/12/2010
Other charges	GE	394 911

Operating charges (III-IV)

		31/12/2010
Share of joint-venture transferred to other partner(s) (Total III)	GH	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0

Financial income (V)

			31/12/2010
	Total financial income (Total V)	GP	195 732
	Share financial income	GJ	0
	Other investment income & capitalised receivables	GK	0
	Other interest and similar income	GL	195 339
	Released provisions and transferred charges	GM	0
	Exchange gains	GN	393
	Net income from disposal of investment securities	GO	0

Financial Charge (VI)

			31/12/2010
	Total financial charge (Total VI)	GU	18 722
	Financial reserves and provisions	GQ	0
	Interest and similar charges	GR	18 722
	Exchange losses	GS	0
	Net loss from disposal of investment securities	GT	0

Financial Charge (VII)

			31/12/2010
	Total extraordinary income (Total VII)	HD	171 343
	Extraordinary operating income	HA	171 343
	Extraordinary income from capital transactions	HB	0
	Released provisions and transferred charges	HC	0

Extraordinary charges (VIII)

			31/12/2010
	Total extraordinary charges (Total VIII)	HH	774 901
	Extraordinary operating charges	HE	758 119
	Extraordinary charges from capital transactions	HF	0
	Extraordinary reserves and provisions	HG	16 782

Employee profit sharing (IX)

		31/12/2010
Employee profit sharing (Total IX)	HJ	0

Tax on profits (X)

		31/12/2010
Tax on profits (Total X)	HK	0

References

		31/12/2010
Of which equipment leases	HP	0
Of which property leases	HQ	0
Of which transferred charges	A1	242 871
Of which trader's own contributions	A2	0
Of which royalties on licences and patents (income)	A3	0
Of which royalties on licences and patents (charges)	A4	57 067

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)

			31/12/2010
	Gross value at begin of period	OG	0
	Increasess due to revaluation	OH	0
	Decreasess, acquisitions, creations, contributions	OJ	0
	Decreasess by budget item transfer	OK1	0
	Decreasess by transfers	OK2	0
	Gross value at the end of period	OL	280 362

Research and development Charge (Total I)

			31/12/2010
	Gross value at begin of period	CZ	0
	Increasess due to revaluation	KB	0
	Increasess, acquisitions, creations, contributions	KC	0
	Decreasess by budget item transfer	C01	0
	Decreasess by transfers	C02	0
	Gross value at the end of period	D0	0

Other budget item from Intangible fixed assets (Total II)

			31/12/2010
	Gross value at begin of period	KD	0
	Increasess due to revaluation	KE	0
	Increasess, acquisitions, creations, contributions	KF	108 512
	Decreasess by budget item transfer	LV1	0
	Decreasess by transfers	LV2	0
	Gross value at the end of period	LW	108 512

Tangible fixed assets (Total III)

			31/12/2010
	Gross value at begin of period	LN	0
	Increasess due to revaluation	LO	0
	Increasess, acquisitions, creations, contributions	LP	40 266
	Decreasess by budget item transfer	NG1	0
	Decreasess by transfers	NG2	0
	Gross value at the end of period	NH	40 266

Fiancial assets (Total IV)

			31/12/2010
	Gross value at begin of period	LQ	0
	Increasess due to revaluation	LR	0
	Increasess, acquisitions, creations, contributions	LS	131 583
	Decreasess by budget item transfer	NJ1	0
	Decreasess by transfers	NJ2	0
	Gross value at the end of period	NK	131 583

Reserve for depreciation
Situation and movement of reserve for depreciation
Grand total (I-II-III)

			31/12/2010
	Reserve for depreciation value at begin of period	0N	0
Increases		0P	0
Decreasess		0Q	0
	Reserve for depreciation value at the end of period	0R	0

Research and development charge (Total I)

			31/12/2010
	Reserve for depreciation value at begin of period	CY	0
Increases		PB	0
Decreasess		PC	0
	Decreasess by budget item transfer	PD	0

Other intangible assets (Total II)

			31/12/2010
	Reserve for depreciation value at begin of period	PE	0
Increases		PF	7 462
Decreasess		PG	0
	Decreasess by budget item transfer	PH	7 462

Total fixed assets amotisation (Total III)

			31/12/2010
	Reserve for depreciation value at begin of period	QU	0
Increases		QV	1 237
Decreases		QW	0
	Decreasess by budget item transfer	QX	1 237

Movements during period affecting charge allocated over several period
Charges à répartir ou frais d'émission d'emprunt

			31/12/2010
	Gross value at begin of period	Z91	0
Increases		Z92	0
Depreciation of fixed assets during period		Z9	0
	Decreasess by budget item transfer	B1	0

Premium refund of obligations

			31/12/2010
	Net value at begining of period	SP1	0
Increases		SP2	0
Depreciation of fixed assets during period		SP	0
	Net value at the end of period	SR	0

Provisions included in balance sheet
Grand Total (I-II-III)

			31/12/2010
	Value at begining of period	7C	0
Increases		UB	4 400 141
Decreases		UC	0
	Value at the end of period	UD	4 400 141

Includes Total allocations

Operating	UE	4 383 359
Financial	UG	0
Exceptional	UJ	16 782

Includes Total Withdrawal

Operating	UF	0
Financial	UH	0
Exceptional	UK	0

Total regulated provisions (Total I)

			31/12/2010
	Value at begining of period	3Z	0
Increases		TS	16 782
Decreases		TT	0
	Value at the end of period	TU	16 782

Total risk and charge provisions (Total II)

			31/12/2010
	Value at begining of period	5Z	0
Increases		TV	1 507 854
Decreases		TW	0
	Value at the end of period	TX	1 507 854

Total Provision for depreciation (Total III)

			31/12/2010
	Value at begining of period	7B	0
Increases		TY	2 875 504
Decreases		TZ	0
	Value at the end of period	UA	2 875 504

State deadlines claims and debts at the end of period
State claims

		31/12/2010
Gross value	VT	9 594 679
1 year at most	VU	9 501 159
More than one year	VV	93 520

State of loans

		31/12/2010
Claims related to holdings (gross)	UL	0
Claims related to shareholdings (1 year at most)	UM	0
Loans (gross)	UP	0
Loans (1 year at most)	UR	0
Other financial assets (gross)	UT	131 583
Other financial assets (1 year at most)	UV	38 063

Receivables statement of assets

		31/12/2010
Customers doubtful or disputed	VA	667 765
Other claims customer	UX	3 116 756
Receivables represent Loaned Securities	UU	0
Provision for depreciation previously established	UQ	0
Personnel and associated accounts	UY	6 527
Social Security and other social organizations	UZ	0
Income taxes	VM	266
Value added tax	VB	2 200 312
Other taxes and payments assimilated	VN	0
State and other public - Miscellaneous	VP	0
Group and Associates	VC	501 224
Accounts receivable (including claims relating to the operation of pension titles)	VR	1 787 834

Prepaid

		31/12/2010
Prepaid	VS	1 182 409

State Debt

			31/12/2010
	Total debt (gross)	VY	34 171 972
1 year at most		VZ2	34 171 972
More than 1 year and 5 years at most		VZ3	0
More than 5 years		VZ4	0

Details

			31/12/2010
	Convertible bonds (gross)	7Y1	0
1 year at most		7Y2	0
More than 1 year and 5 years at most		7Y3	0
	Other bonds (gross)	7Z1	0
1 year at most		7Z2	0
More than 1 year and 5 years at most		7Z3	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	72 930
1 year at most		VG2	72 930
More than 1 year and 5 years at most		VG3	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0
1 year at most		VH2	0
More than 1 year and 5 years at most		VH3	0
	Loans and various financial liabilities (gross)	8A1	0
1 year at most		8A2	0
More than 1 year and 5 years at most		8A3	0
	Suppliers and associated accounts (gross)	8B1	27 119 360
1 year at most		8B2	27 119 360
More than 1 year and 5 years at most		8B3	27 119 360
	Personnel and associated accounts (gross)	8C1	713 390
1 year at most		8C2	713 390
More than 1 year and 5 years at most		8C3	0
	Social Security and other social organizations (gross)	8D1	1 065 582
1 year at most		8D2	1 065 582
More than 1 year and 5 years at most		8D3	0
	Taxes on profits (gross)	8E1	0
1 year at most		8E2	0
More than 1 year and 5 years at most		8E3	0
	VAT (gross)	VW1	86 198
1 year at most		VW2	86 198
More than 1 year and 5 years at most		VW3	0
	Backed Obligations (gross)	VX1	0
1 year at most		VX2	0
More than 1 year and 5 years at most		VX3	0
	Other taxes and assimilated (gross)	VQ1	755 604
1 year at most		VQ2	755 604
More than 1 year and 5 years at most		VQ3	0
	Assets and liabilities associated accounts (gross)	8J1	0
1 year at most		8J2	0
More than 1 year and 5 years at most		8J3	0
More than 5 years		8J4	0
	Groups and associates (gross)	VI1	2 000 000
1 year at most		VI2	2 000 000
More than 1 year and 5 years at most		VI3	0
More 5 years		VI4	0
	Other liabilities (gross)	8K1	2 185 304
1 year at most		8K2	2 185 304
More than 1 year and 5 years at most		8K3	0
	Debt representative of borrowed securities (gross)	SZ1	0
1 year at most		SZ2	0
More than 1 year and 5 years at most		SZ3	0
	Products in advance (gross)	8L1	173 602
1 year at most		8L2	173 602
More than 1 year and 5 years at most		8L3	0

References

		31/12/2010
Loans made during the period	VJ	2 000 000
Debt repaid during the period	VK	0

Table allocation results and other information
Dividends distributed

		31/12/2010
Dividends	ZE	0

Commitments

		31/12/2010
Commitments leasing furniture	YQ	0
Commitments Real Estate Leasing	YR	0
Effects brought to the discount and unmatured	YS	0

Other charges Externes

		31/12/2010
Subcontracting	YT	0
Rentals, rental charges and condominiums	XQ	0
Staff outside the company	YU	0
Remuneration intermediaries and fees (excluding fees)	SS	0
Fees, commissions and brokerage	YV	0
Other accounts	ST	0
Total Other purchases and external	ZJ	0

Taxes and Fees

		31/12/2010
Business tax	YW	0
Other taxes and payments assimilated	9Z	0
Total taxes and fees	YX	0

VAT

		31/12/2010
Amount VAT collected	YY	0
Total VAT on goods and services	YZ	0

Average number of employees

		31/12/2010
Average number of employees	YP	110

Groups and Shareholders

		31/12/2010
Groups and Shareholders	ZR	0

Display parameter
Comparison mode	Average	Median

Ratios
Structure and liquidity | Management or rotation | Profitability of the business | Return on capital

Structure and Liquidity

		31/12/2010	Sector Median 2010
Fixed Asset Financing		-11,39	2,02	-663,9%
Global Debt		158 days	140 days	12,9%
Working Capital Fund overall net		-16 days	47 days	-134,0%
Financial independence		-9298,60%	114,09%	-8250,2%
More ratios
Solvability		-22,87%	21,23%	-207,7%
Capacity debt futures		-9298,60%	511,84%	-1916,7%
Coverage of current assets by net working capital overall		-11,18%	33,11%	-133,8%
General Liquidity		0,28	0,24	16,7%
Restricted Liquidity		0,31	0,73	-57,5%

Management or rotation

		31/12/2010	Sector Median 2010
Need background in operating working capital		-24 days	-5 days	-380,0%
Treasury		4 days	3 days	33,3%
Inventory turnover of goods		325 days	86 days	277,9%
Average length of credit granted to customers		17 days	6 days	183,3%
Average length of credit obtained suppliers		129 days	45 days	186,7%
More ratios
Inventory turnover of raw materials in industrial enterprises		219 days	0 days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise		196831 days	3495 days	5531,8%
Rotation tangible assets		196831,45%	1705,65%	11440,0%

Profitability of the business

		31/12/2010	Sector Median 2010
Margin trading		58,59%	34,93%	67,7%
Profitability of the business		-2,68	1,21%	-321,5%
Net profit		-8,59%	0,43%	-2097,7%
More ratios
Growth rate of turnover (excluding VAT)		%	6,47%	-
Rates integration		4,86%	11,66%	-58,3%
Rate leasing furniture		0%	0%	0%
Work Factor		138,98%	13,56%	924,9%
Weight interests		0,02	0,07%	-71,4%

Return on capital

		31/12/2010	Sector Median 2010
Cash flow from the overall profitability		-8,56%	1,67%	-612,6%
Rates of economic profitability		45%	14%	221,4%
Financial profitability		-6781472%	90,89%	-7461286,0%
Return on investment		144,19%	10,13%	1323,4%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2010	Sector Median 2010
Turnover	79 256 152	81 030 €	97710,3%

Sales of goods	69 491 932
- Purchase of goods	43 884 899
+/- Stock of goods variation	-20 830 263
Trading margin	46 437 296 €	19 705 €	235562,5%
	58,59 % CA	36,19 % CA	61,9%

Sale of goods produced	9 764 220
+/- Stocked production	0
+ Self-constructed assets	0
Period production	9 764 220 €	2 183,50 €	447082,0%
	12,32 % CA	8,18 % CA	50,6%

Trading margin	46 437 296	19 705	235562,5%
+ Period Production	9 764 220	2 183,50	447082,0%
- Purchase of raw materials	427 143
+/- Change in stocks of raw materiels	-89 083
- Other external purchases and charges	52 013 485
Added value	3 849 971 €	7 046,50 €	54536,6%
	4,86 % CA	11,66 % CA	-58,3%

Added value	3 849 971 €	7 046,50 €	54536,6%
+ Operating grants	0
- Tax, duty and similar payments	626 104
- Personal charges	5 350 742
Gross operating surplus	-2 126 875 €	352 €	-604325,9%
	-2,68 % CA	1,21 % CA	-321,5%

Gross operating surplus	-2 126 875 €	352 €	-604325,9%
+ Release of reserves and provisions	242 871
+ Other operating income	289 511
- Depreciation/Amortisation	4 392 060
- Other charges	394 911
Operating result	-6 381 464 €	-228,50 €	-2792663,2%
	-8,05 % CA	0,38 % CA	-2218,4%

Operating result	-6 381 464 €	-228,50 €	-2792663,2%
+/- Result of joint-venture transferred from/to other partners	0
+ Financial income	195 732
- Financial charges	18 722
Pre-tax result	-6 204 454 €	-373,50 €	-1661065,7%
	-7,83 % CA	0,09 % CA	-8800%

Extraordinary income	171 343	0	0%
- Extraordinary charges	774 901
Extraordinary result	-603 558 €	0 €	0%
	-0,76 % CA	0 % CA	0%

Pre-tax result	-6 204 454 €	-373,50 €	-1661065,7%
Extraordinary result	-603 558 €	0 €	0%
- Employee profit sharing	0
- Tax on profits	0
Net result	-6 808 012 €	27,50 €	-24756507,3%
	-8,59 % CA	0,43 % CA	-2097,7%

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Company details
		Activity (APE)		Vente à distance sur catalogue général (4791A) (Distance selling on catalog )
		RCS Registration		RCS Roubaix-Tourcoing 0 519 190 136	Share capital	200,096 Euros
	Registration Court		Roubaix-Tourcoing (59)	Legal form	Simplified Joint Stock Company with Single Associate
	Court Registry Number		20 0 9B015	EU VAT Number	FR01519190136
		Incorporation Date		12/2009	Formation Date	12/2009
		Deregistration Date			Last account Date	31/12/2010
		Nationality		France
Establishment details

	Activity (APE)			Autres commerces de détail en magasin non spécialisé (4719B)	Business Pages FT®
	Postal Address			ARIANTA 12 RUE DE LA CENTENAIRE 59170 CROIX	Trading Address	12 RUE DE LA CENTENAIRE 59170 CROIX
	Telephone
	Fax
Type	Head office	Status	Economically active
	Formation Date	06/2011	Reason for formation			Other
	Closure Date		Reason for closure
	Reactivation Date		Production Role
	Activity Nature		Activity Location
	Location surface		Seasonality

	Department		Region	Nord-Pas-de-Calais
	District		Area
	City	CROIX	Size of urban area
Other establishments

Branches	2 branch entities in this company
Head office	> ARIANTA <<<  - Vente à distance sur catalogue général (4791A)  in CROIX  (59170)
Secondary establishments	>  ARIANTA  - Vente à distance sur catalogue général (4791A)  in ORMES  (45140) >  ARIANTA  - Vente à distance sur catalogue général (4791A)  in SARAN  (45770) >  ARIANTA  - Vente à distance sur catalogue général (4791A)  in WASQUEHAL  (59290) >  ARIANTA  - Vente à distance sur catalogue général (4791A)  in CROIX  (59170) > ...

Regionality

Mono-activity status

Workforces
	Workforce at address	Workforce unknown	Company workforce	0 employee

event history

Status history

Date	Description
27/06/2011	Economically active

Recent publications in Gazettes

Publication date	Gazette Name	Description
18/10/2011	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 5565 - 519190136 RCS. ARIANTA. Forme : S.A.S. unipersonnelle. Adresse : 12 rue de la Centenaire 59170 Croix. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
21/09/2011	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 1878 - 519 190 136 RCS Roubaix-Tourcoing. ARIANTA. Forme : S.A.S. unipersonnelle. Administration : Président de la société : BRASSIER Eliane Commissaire aux comptes titulaire : ACEA Commissaire aux comptes suppléant : SAUVAGE Catherine. Capital : 200096 EUR. Activité : Vente au détail de toutes marchandises par tous moyens, notamment à distance, internet, magasins correspondance. Adresse de l’établissement principal : 12 rue de la Centenaire, 59170 Croix. Adresse du siège social : 12 rue de la Centenaire, 59170 Croix. Commentaires : Transfert du siège et de l'établissement principal avec création. Date de commencement de l’activité : 18/12/2009. Date d’effet : 27/06/2011.
20/09/2011	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 1178 - 519 190 136 RCS Roubaix-Tourcoing. ARIANTA. Forme : S.A.S. unipersonnelle. Administration : Président de la société : BRASSIER Eliane Commissaire aux comptes titulaire : ACEA Commissaire aux comptes suppléant : SAUVAGE Catherine. Capital : 200096 EUR. Activité : Vente au détail de toutes marchandises par tous moyens, notamment à distance, internet, magasins correspondance. Adresse de l’établissement principal : 1 rue du Molinel, 59290 Wasquehal. Adresse du siège social : 1 rue du Molinel, 59290 Wasquehal. Commentaires : Augmentation de capital. Date de commencement de l’activité : 18/12/2009. Date d’effet : 23/06/2011.
02/09/2011	JAL	Head Office Transfer
Syndicat agricole (Le) Date de décision : 27/06/2011 Transfert du siège social de la société 519190136 -  ARIANTA Adresse du nouveau siège : 12 Rue de la Centenaire, 59170 CROIX Ancienne localisation : 1 RUE DU MOLINEL, 59290 WASQUEHAL Date d'effet : 27/06/2011
15/07/2011	JAL	Continuation of activity in spite of stockholders' equity become lower in the middle of the share capital
Syndicat agricole (Le) Date de décision : 22/06/2011 Poursuite d'activité malgré des fonds propres devenus inférieurs à la moitié du capital social de la société 519190136 -  ARIANTA, 1 RUE DU MOLINEL, 59290 WASQUEHAL Date d'effet : 22/06/2011
15/07/2011	JAL	Modification of the share capital
Syndicat agricole (Le) Date de décision : 22/06/2011 La société : 519190136 - ARIANTA, 1 RUE DU MOLINEL, 59290 WASQUEHAL a subi une augmentation de son capital social désormais de 23 680 € Date d'effet : 22/06/2011
24/04/2011	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 662 - 519 190 136 RCS Roubaix-Tourcoing. ARIANTA. Forme : S.A.S. unipersonnelle. Administration : Président de la société : BRASSIER Eliane Commissaire aux comptes titulaire : ACEA Commissaire aux comptes suppléant : SAUVAGE Catherine. Capital : 10000 EUR. Activité : Vente au détail de toutes marchandises par tous moyens, notamment à distance, internet, magasins correspondance. Adresse de l’établissement principal : 1 rue du Molinel, 59290 Wasquehal. Adresse du siège social : 1 rue du Molinel, 59290 Wasquehal. Commentaires : Transfert du siège et de l'établissement principal avec création. Date de commencement de l’activité : 18/12/2009. Date d’effet : 28/02/2011.
25/03/2011	JAL	Head Office Transfer
Syndicat agricole (Le) Date de décision : 28/02/2011 Transfert du siège social de la société 519190136 -  ARIANTA Adresse du nouveau siège : 1 Rue du Molinel, 59290 WASQUEHAL Ancienne localisation : 4 PL DE LA REPUBLIQUE, 59170 CROIX Date d'effet : 28/02/2011
04/01/2011	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 732 - 519 190 136 RCS Roubaix-Tourcoing. ARIANTA. Forme : S.A.S. unipersonnelle. Administration : Président de la société : BERNARD Jean-Marc Commissaire aux comptes titulaire : ACEA Commissaire aux comptes suppléant : SAUVAGE Catherine. Capital : 10000 EUR. Activité : Vente au détail de toutes marchandises par tous moyens, notamment à distance, internet, magasins correspondance. Adresse de l’établissement principal : 4 place de la République, 59170 Croix. Adresse du siège social : 4 place de la République, 59170 Croix. Commentaires : Nomination de commissaires aux comptes. Date de commencement de l’activité : 18/12/2009. Date d’effet : 31/05/2010.
28/07/2010	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 967 - 519 190 136 RCS Roubaix-Tourcoing. ARIANTA. Forme : S.A.S. unipersonnelle. Administration : Président de la société : BERNARD Jean-Marc. Capital : 10000 EUR. Activité : Vente au détail de toutes marchandises par tous moyens, notamment à distance, internet, magasins correspondance. Adresse de l’établissement principal : 4 place de la République, 59170 Croix. Adresse du siège social : 4 place de la République, 59170 Croix. Commentaires : Changement de président de S.A.S. Changement de l'objet et de l'activité. Date de commencement de l’activité : 18/12/2009. Date d’effet : 01/06/2010.
11/06/2010	JAL	Appointment of the social representative
LE SYNDICAT AGRICOLE Société faisant objet d'une nomination : 519190136 - ARIANTA, 4 PL DE LA REPUBLIQUE, 59170 CROIX Nominé : Monsieur Jean-Marc BERNARD, 76 AVENUE 76 AVENUE DU PEUPLE BELGE, 59800 LILLE En la fonction de : Président
11/06/2010	JAL	Resignation / Revocation of the social representative
LE SYNDICAT AGRICOLE Date de décision : 01/06/2010 La société 519190136 - ARIANTA, 4 PL DE LA REPUBLIQUE, 59170 CROIX Fait l'objet du départ de Monsieur Philippe GUILLAUME
20/01/2010	Bodacc A	Création d'établissement
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE ROUBAIX-TOURCOING 783 - 519 190 136 RCS Roubaix-Tourcoing. ARIANTA. Forme : S.A.S. unipersonnelle. Administration : Président de la société : GUILLAUMIE Philippe. Capital : 10000 EUR. Adresse : 4 place de la République, 59170 Croix. Etablissement : Siège social et établissement principal. Activité : Etude, création, exploitation, direction et gérance de toutes affaires ou entreprises commerciales, industrielles, immobilières ou financières. Adresse : 4 place de la République, 59170 Croix. A dater du : 31/12/2009. Date de commencement de l’activité : 18/12/2009. Descriptif : . Commentaires : Immatriculation d'une personne morale (B, C, D) suite à création d'un établissement principal.

Company events history

Date	Description
18/10/2011	Bodacc C : Deposit accounts notice
05/10/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
21/09/2011	Bodacc B: Various editing or changing
20/09/2011	Bodacc B: Various editing or changing
12/09/2011	Updated articles of association
12/09/2011	Amendment
12/09/2011	Registered office transferred inside jurisdiction of the Commercial Court
09/09/2011	Fund deposit certificate
09/09/2011	Reconstitution of net assets
09/09/2011	Continuation of business despite loss of equity
09/09/2011	Capital increase
09/09/2011	Updated articles of association
09/09/2011	Amendment
02/09/2011	New ultimate parent
02/09/2011	New parent detected
02/09/2011	Legal Gazette: Head Office Transfer
27/06/2011	Update of Company Head Office Identifier
27/06/2011	Transfer of Establishment
22/06/2011	Legal Gazette: Modification of the share capital
22/06/2011	Legal Gazette: Continuation of activity
24/04/2011	Bodacc B: Various editing or changing
13/04/2011	New chairman (CEO, CoB)
13/04/2011	Updated articles of association
13/04/2011	Minutes of general meeting of shareholders
13/04/2011	Registered office transferred inside jurisdiction of the Commercial Court
25/03/2011	Legal Gazette: Head Office Transfer
04/01/2011	Bodacc B: Various editing or changing
31/12/2010	New accounts available
23/12/2010	Amendment
28/07/2010	Bodacc B: Various editing or changing
15/07/2010	Minutes of general meeting of shareholders
15/07/2010	New chairman (CEO, CoB)
15/07/2010	Updated articles of association
15/07/2010	Change to corporate purpose
11/06/2010	Legal Gazette: Resignation / Revocation of the social representative
01/06/2010	Legal Gazette: Appointment of the social representative
20/01/2010	Bodacc A : Establishment creation
31/12/2009	Articles of association
31/12/2009	Company formation
31/12/2009	Fund deposit certificate

Establishment events history
	Date	Description
	05/10/2011	Update Rating
	05/10/2011	Update Limit
	27/06/2011	Formation of Head office (after transfer)

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.79
UK Pound	1	Rs.78.79
Euro	1	Rs.65.73

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.