MIRA INFORM REPORT

Report Date :

22.03.2012

IDENTIFICATION DETAILS

Name :	CIVAD SARL
Registered Office :	687 Av De L Europe 12100 Millau
Country :	France
Financials (as on) :	31.03.2007
Date of Incorporation :	April 1983
Com. Reg. No.:	RCS Millau B 327 325 106
Legal Form :	Limited Liability Company
Line of Business :	Building contractors other buildings
No. of Employees :	1 or 2 employees

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	20,000 €
Status :	Moderate
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)
France	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

REGISTERED NAME & COMPANY SUMMARY

CIVAD SARL

company summary

Acronym	CIVAD
Safe Number	FR01252245
Activity (APE)	Building contractors other buildings (4110C)	Legal form	Limited Liability Company
Phone		RCS Registration	RCS Millau B 327 325 106
Fax		Share capital	8,000 Euros
Address	CIVAD SARL 687 AV DE L EUROPE 12100 MILLAU	Incorporated Date	04/1983
Nationality	France	Status	Economically active

company details

Company details

Activity (APE)	Promotion immobilière d'autres bâtiments (4110C)
RCS Registration	RCS Millau B 327 325 106	Share capital	8,000 Euros
Registration Court	Millau (12)	Legal form	Limited Liability Company
Court Registry Number	07 B 00178	EU VAT Number	FR01327325106
Incorporation Date	04/1983	Formation Date	04/1983
Deregistration Date		Last account Date	31/03/2007
Nationality	France

Establishment details

Acronym	CIVAD
Activity (APE)	Promotion immobilière d'autres bâtiments (4110C)	Business Pages FT®
Postal Address	CIVAD SARL 687 AV DE L EUROPE 12100 MILLAU	Trading Address	687 AVENUE DE L EUROPE 12100 MILLAU
Telephone
Fax

CREDIT RECOMENDATION

Current Credit Limit: 20,000 €

DIRECTORS/MANAGEMENT

Current Directors

2

directors

Name	M. AYOT LAURENT
Manager position	Gérant	Date of birth	23/10/1964
Place of birth	MILLAU
Type of manager	Individual	Name at birth of manager

Name	M. DUVIOL CHRISTIAN
Manager position	Gérant	Date of birth	20/02/1953
Place of birth	USCLAS DU BOSC
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
Gérant	M ANTOINE VIDAL

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	03/31/2007	03/31/2006	03/31/2005
	Turnover	534,093 €	463,068 €	484,581 €
	Gross Operating Surplus	34,24 % Turnover	14,91 % Turnover	36,90 % Turnover
	Net worth	137,736 €	112,982 €	186,477 €
	Employees	1 or 2 employees	-	-

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/03/2007	31/03/2006	31/03/2005
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Deposit date	-	-	-
Activity Code	4110C	4110C	4110C
Employees	0	1	0

Active account

Annual Accounts	31/03/2007		31/03/2006		31/03/2005	Sector Median 2007
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	5 791	-22,8%	7 502	-10,0%	8 334	4 455	30,0%
- Intangible assets	0	0%	0	0%	0	0	0%
- Tangible assets	5 791	-22,8%	7 502	-10,0%	8 334	545	962,6%
- Financial assets	0	0%	0	0%	0	30	0%
Net current assets	363 777	17,4%	309 853	-12,0%	351 934	647 550	-43,8%
- Stocks	0	0%	0	0%	0	59 866	0%
- Advanced payments	0	17,4%	0	0%	0	0	0%
- Receivables	157 171	-24,7%	208 722	29,4%	161 301	120 926	30,0%
- Securities and cash	206 606	104,3%	101 130	-47,0%	190 633	43 430	375,7%
- Prepaid expenses	-	-	-	-	-	0	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	369 568	16,5%	317 355	-11,9%	360 268	798 102	-53,7%

Passive Account

Annual Accounts	31/03/2007		31/03/2006		31/03/2005	Sector Median 2007
Shareholders' equity	137 736	21,9%	112 982	-39,4%	186 477	102 376	34,5%
Share capital	8 000	0%	8 000	0%	8 000	10 000	-20,0%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	0	0%	0	0%	0	0	0%
Liabilities	231 832	13,4%	204 372	17,6%	173 792	538 017	-56,9%
- Financial liabilities	0	0%	0	0%	216	131 166	0%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	143 859	0,1%	143 725	44,1%	99 752	43 481	230,9%
- Tax and social liabilities	87 973	45,1%	60 647	-17,8%	73 824	30 470	188,7%
- Other debts and fixed assets liabilities	0	0%	0	0%	0	2 598	0%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	369 568	16,5%	317 355	-11,9%	360 268	798 102	-53,7%

Results

Annual Accounts	31/03/2007		31/03/2006		31/03/2005	Sector Median 2007
Sales of Goods	534 093	15,3%	463 068	-4,9%	486 967	246 254	116,9%
Net turnover	534 093	15,3%	463 068	-4,4%	484 581	171 865	210,8%
- of which net export turnover	0	0%	0	0%	0	0	0%
Operating charges	352 946	-10,9%	396 297	28,5%	308 283	244 396	44,4%
Operating profit/loss	181 147	171,3%	66 771	-62,6%	178 684	3 021	5896,3%
Financial income	0	0%	0	0%	0	1 223	0%
Financial charges	0	0%	0	0%	0	2 699	0%
Financial profit/loss	0	0%	0	0%	0	0	0%
Pretax net operating income	181 147	171,3%	66 771	-62,6%	178 684	18 625	872,6%
Extraordinary income	0	0%	04	0%	0	0	0%
Extraordinary charges	0	0%	0	0%	28	0	0%
Extraordinary profit/loss	0	3193725,0%	04	114,3%	-28	0	0%
Net result	127 753	148,0%	51 506	-58,9%	125 305	22 708	462,6%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/03/2007	31/03/2006	31/03/2005
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/03/2007		31/03/2006		31/03/2005
	Grand Total (I to VI)	Net	369 568	16,5%	317 355	-11,9%	360 268
	Gross	CO	381 330	16,5%	327 406	-11,0%	368 055
	Amortisation	1A	11 762	17,0%	10 051	29,1%	7 786

Non declared distributed capital (I)

		31/03/2007		31/03/2006		31/03/2005
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	-	-	-	-	-

Active fixed asset (II)

			31/03/2007		31/03/2006		31/03/2005
	Total Active fixed asset (II)	Net	5 791	-22,8%	7 502	-10,0%	8 334
	Gross	BJ	17 553	0%	17 553	8,9%	16 120
	Amortisation	BK	11 762	17,0%	10 051	29,1%	7 786

Intangilble fixed assets

			31/03/2007		31/03/2006		31/03/2005
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	0	0%	0	0%	0
	Gross	AF	0	0%	0	0%	0
	Amortisation	AG	0	0%	0	0%	0
	Goodwill	Net	0	0%	0	0%	0
	Gross	AH	0	0%	0	0%	0
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	0	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	0	0%	0	0%	0

Tangilble fixed assets

			31/03/2007		31/03/2006		31/03/2005
	Lands	Net	0	0%	0	0%	0
	Gross	AN	0	0%	0	0%	0
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	0	0%	0	0%	0
	Gross	AP	0	0%	0	0%	0
	Amortisation	AQ	0	0%	0	0%	0
	Plant	Net	0	0%	0	0%	0
	Gross	AR	338	0%	338	0%	338
	Amortisation	AS	338	0%	338	0%	338
	Other tangible fixed assets	Net	5 791	-22,8%	7 502	-10,0%	8 334
	Gross	AT	17 215	0%	17 215	9,1%	15 782
	Amortisation	AU	11 424	17,6%	9 713	30,4%	7 448
	Fixed assets in construction	Net	0	0%	0	0%	0
	Gross	AV	0	0%	0	0%	0
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	0	0%	0	0%	0
	Gross	AX	0	0%	0	0%	0
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	5 791		7 502		8 334

Financial assets

			31/03/2007		31/03/2006		31/03/2005
	Associates at equity	Net	0	0%	0	0%	0
	Gross	CS	0	0%	0	0%	0
	Amortisation	CT	0	0%	0	0%	0
	Other participations	Net	0	0%	0	0%	0
	Gross	CU	0	0%	0	0%	0
	Amortisation	CV	0	0%	0	0%	0
	Inter-company receivables	Net	0	0%	0	0%	0
	Gross	BB	0	0%	0	0%	0
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	0	0%	0	0%	0
	Gross	BD	0	0%	0	0%	0
	Amortisation	BE	0	0%	0	0%	0
	Loans	Net	0	0%	0	0%	0
	Gross	BF	0	0%	0	0%	0
	Amortisation	BG	0		0		0
	Other financial assets	Net	0	0%	0	0%	0
	Gross	BH	0	0%	0	0%	0
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		0		0		0

Current Assets (III)

			31/03/2007		31/03/2006		31/03/2005
	Total Assets	Net	363 777	17,4%	309 853	-12,0%	351 934
	Gross	CJ	363 777	17,4%	309 853	-12,0%	351 934
	Amortisation	CK	0	0%	0	0%	0

Stocks

			31/03/2007		31/03/2006		31/03/2005
	Raw materials	Net	0	0%	0	0%	0
	Gross	BL	0	0%	0	0%	0
	Amortisation	BM	0	0%	0	0%	0
	Work in progress (goods)	Net	0	0%	0	0%	0
	Gross	BN	0	0%	0	0%	0
	Amortisation	BO	0	0%	0	0%	0
	Work in progress (services)	Net	0	0%	0	0%	0
	Gross	BP	0	0%	0	0%	0
	Amortisation	BQ	0	0%	0	0%	0
	Semi-finished and finished products	Net	0	0%	0	0%	0
	Gross	BR	0	0%	0	0%	0
	Amortisation	BS	0	0%	0	0%	0
	Goods for resale	Net	0	0%	0	0%	0
	Gross	BT	0	0%	0	0%	0
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	0	0%	0	0%	0

Advance payments to suppliers

			31/03/2007		31/03/2006		31/03/2005
	Advance payments to suppliers	Net	0	0%	0	0%	0
	Gross	BV	0	0%	0	0%	0
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/03/2007		31/03/2006		31/03/2005
	Trade accounts receivable	Net	131 974	-10,8%	147 909	-0,2%	148 178
	Gross	BX	131 974	-10,8%	147 909	-0,2%	148 178
	Amortisation	BY	0	0%	0	0%	0
	Other debtors	Net	25 197	-58,6%	60 813	363,4%	13 123
	Gross	BZ	25 197	-58,6%	60 813	363,4%	13 123
	Amortisation	CA	0	0%	0	0%	0
	Capital subscribed and called up	Net	0	0%	0	0%	0
	Gross	CB	0	0%	0	0%	0
	Amortisation	CC	0	0%	0	0%	0
	Sub Total Debtors	Net	157 171	-24,7%	208 722	29,4%	161 301

Divers

			31/03/2007		31/03/2006		31/03/2005
	Investment securities	Net	0	0%	0	0%	0
	Gross	CD	0	0%	0	0%	0
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	206 606	104,3%	101 130	-47,0%	190 633
	Gross	CF	206 606	104,3%	101 130	-47,0%	190 633
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	206 606	104,3%	101 130	-47,0%	190 633

Prepaid expenses

			31/03/2007		31/03/2006		31/03/2005
	Prepaid expenses	Net	0	0%	0	0%	0
	Gross	CH	0	0%	0	0%	0
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/03/2007		31/03/2006		31/03/2005
Multi-period charges	CW3	0	0%	0	0%	0
Gross		-	-	-	-	-
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		-	-	-	-	-
Currency differential gain	CN3	0	0%	0	0%	0
Gross		-	-	-	-	-

References

		31/03/2007		31/03/2006		31/03/2005
Due within one year	CP	0	0%	0	0%	0
Due after one year	CR	0	0%	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)

		31/03/2007		31/03/2006		31/03/2005
Grand Total (I to V)	EE	369 568	16,5%	317 355	-11,9%	360 268

Shareholder Equity (I)

			31/03/2007		31/03/2006		31/03/2005
	Total shareholders' equity (Total I)	DL	137 736	21,9%	112 982	-39,4%	186 477
	Equity and shareholders' equity	DA	8 000	0%	8 000	0%	8 000
	Issue and merger premiums	DB	0	0%	0	0%	0
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	800	0%	800	5,0%	762
	Statutory or contractual reserve	DE	0	0%	0	0%	0
	Special regulated reserves	DF	0	0%	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	1 182	-97,8%	52 676	0,5%	52 409
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	0	0%	0	0%	0
	Profit or loss for the period	DI	127 753	148,0%	51 506	-58,9%	125 305
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/03/2007		31/03/2006		31/03/2005
	Total other capital resources (Total II)	DO	0	0%	0	0%	0
	Income from participating securities	DM	0	0%	0	0%	0
	Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

			31/03/2007		31/03/2006		31/03/2005
	Total provisions for risks and charges (Total III)	DR	0	0%	0	0%	0
	Risk provisions	DP	0	0%	0	0%	0
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/03/2007		31/03/2006		31/03/2005
	Total Liabilities (Total IV)	EC	231 832	13,4%	204 372	17,6%	173 792
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	0	0%	0	0%	0
	Sundry loans and financial liabilities	DV	0	0%	0	0%	216
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	0	0%	0	0%	0
	Trade accounts payables	DX	143 859	0,1%	143 725	44,1%	99 752
	Tax and social security liabilities	DY	87 973	45,1%	60 647	-17,8%	73 824
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	0	0%	0	0%	0

Translation loss (V)

		31/03/2007		31/03/2006		31/03/2005
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/03/2007		31/03/2006		31/03/2005
Deferred income	EB	0	0%	0	0%	0

References

		31/03/2007		31/03/2006		31/03/2005
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	231 832	15,1%	201 504	15,9%	173 792
Of which current bank facilities	EH	0	0%	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)

		31/03/2007		31/03/2006		31/03/2005
Operating result (Total I-II)	GG	181 147	171,3%	66 771	-62,6%	178 684

2 - Financial result (V - VI)

		31/03/2007		31/03/2006		31/03/2005
Financial result (Total V-VI)	GV	0	0%	0	0%	0

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

		31/03/2007		31/03/2006		31/03/2005
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	181 147	171,3%	66 771	-62,6%	178 684

4 - Extraordinary result (VII-VIII)

		31/03/2007		31/03/2006		31/03/2005
Extraordinary result (Total VII-VIII)	HI	0	0%	04	114,3%	-28

Profit or loss

		31/03/2007		31/03/2006		31/03/2005
Profit or loss	HN	127 753	148,0%	51 506	-58,9%	125 305

Total Income (I+III+V+VII)

		31/03/2007		31/03/2006		31/03/2005
Total Income (I+III+V+VII)	HL	534 093	15,3%	463 072	-4,9%	486 967

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

		31/03/2007		31/03/2006		31/03/2005
Total charges (Total II+IV+VI+VIII+IX+X)	HM	406 340	-1,3%	411 566	13,8%	361 662

Operating income (I)

		31/03/2007		31/03/2006		31/03/2005
Total operating income (Total I)	FR	534 093	15,3%	463 068	-4,9%	486 967

Operating income (details)

			31/03/2007		31/03/2006		31/03/2005
	Sale of goods for resale	FC	0	0%	0	0%	0
	France	FA	0	0%	0	0%	0
	Export	FB	0	0%	0	0%	0
	Sale of goods produced	FF	0	0%	0	0%	0
	France	FD	0	0%	0	0%	0
	Export	FE	0	0%	0	0%	0
	Sale of services	FI	534 093	15,3%	463 068	-4,4%	484 581
	France	FG	534 093	15,3%	463 068	-4,4%	484 581
	Export	FH	0	0%	0	0%	0
	Net turnover	FL	534 093	15,3%	463 068	-4,4%	484 581
	France	FJ	534 093	15,3%	463 068	-4,4%	484 581
	Export	FK	0	0%	0	0%	0
	Stocked production	FM	0	0%	0	0%	0
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	0	0%	0	0%	0
	Release of reserves and provisions	FP	0	0%	0	0%	2 386
	Other income	FQ	0	0%	0	0%	0

Operating charges (II)

		31/03/2007		31/03/2006		31/03/2005
Total operating charges (Total II)	GF	352 946	-10,9%	396 297	28,5%	308 283

Exploitation charges

		31/03/2007		31/03/2006		31/03/2005
Purchase of goods for resale	FS	0	0%	0	0%	0
Change in stocks of goods for resale	FT	0	0%	0	0%	0
Purchase of raw materials	FU	0	0%	0	0%	0
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	214 183	-17,9%	261 019	51,7%	172 077
Tax, duty and similar payments	FX	4 743	133,6%	2 030	26,0%	1 611
Payroll	FY	93 610	0,0%	93 649	-0,3%	93 977
Social security costs	FZ	38 700	3,7%	37 335	-2,0%	38 106

Depreciation

		31/03/2007		31/03/2006		31/03/2005
Depreciation of fixed assets	GA	1 711	-24,5%	2 265	-9,9%	2 513
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	0	0%	0	0%	0
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/03/2007		31/03/2006		31/03/2005
Other charges	GE	0	0%	0	0%	0

Operating charges (III-IV)

		31/03/2007		31/03/2006		31/03/2005
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

			31/03/2007		31/03/2006		31/03/2005
	Total financial income (Total V)	GP	0	0%	0	0%	0
	Share financial income	GJ	0	0%	0	0%	0
	Other investment income & capitalised receivables	GK	0	0%	0	0%	0
	Other interest and similar income	GL	0	0%	0	0%	0
	Released provisions and transferred charges	GM	0	0%	0	0%	0
	Exchange gains	GN	0	0%	0	0%	0
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/03/2007		31/03/2006		31/03/2005
	Total financial charge (Total VI)	GU	0	0%	0	0%	0
	Financial reserves and provisions	GQ	0	0%	0	0%	0
	Interest and similar charges	GR	0	0%	0	0%	0
	Exchange losses	GS	0	0%	0	0%	0
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Financial Charge (VII)

			31/03/2007		31/03/2006		31/03/2005
	Total extraordinary income (Total VII)	HD	0	0%	04	0%	0
	Extraordinary operating income	HA	0	0%	04	0%	0
	Extraordinary income from capital transactions	HB	0	0%	0	0%	0
	Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

			31/03/2007		31/03/2006		31/03/2005
	Total extraordinary charges (Total VIII)	HH	0	0%	0	0%	28
	Extraordinary operating charges	HE	0	0%	0	0%	28
	Extraordinary charges from capital transactions	HF	0	0%	0	0%	0
	Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing (IX)

		31/03/2007		31/03/2006		31/03/2005
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/03/2007		31/03/2006		31/03/2005
Tax on profits (Total X)	HK	53 394	249,7%	15 269	-71,4%	53 351

References

		31/03/2007		31/03/2006		31/03/2005
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	0%	2 386
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	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)

			31/03/2007		31/03/2006		31/03/2005
	Gross value at begin of period	OG	17 553	8,9%	16 120	0%	0
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	1 433	0%	0
	Decreasess by budget item transfer	OK1	0	0%	0	0%	0
	Decreasess by transfers	OK2	0	0%	0	0%	0
	Gross value at the end of period	OL	17 553	0%	17 553	0%	0

Research and development Charge (Total I)

			31/03/2007		31/03/2006		31/03/2005
	Gross value at begin of period	CZ	0	0%	0	0%	0
	Increasess due to revaluation	KB	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
	Decreasess by budget item transfer	C01	0	0%	0	0%	0
	Decreasess by transfers	C02	0	0%	0	0%	0
	Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets (Total II)

			31/03/2007		31/03/2006		31/03/2005
	Gross value at begin of period	KD	0	0%	0	0%	0
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	0	0%	0
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	0	0%	0
	Gross value at the end of period	LW	0	0%	0	0%	0

Tangible fixed assets (Total III)

			31/03/2007		31/03/2006		31/03/2005
	Gross value at begin of period	LN	17 553	8,9%	16 120	0%	0
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	0	0%	1 433	0%	0
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	0	0%	0
	Gross value at the end of period	NH	17 553	0%	17 553	0%	0

Fiancial assets (Total IV)

			31/03/2007		31/03/2006		31/03/2005
	Gross value at begin of period	LQ	0	0%	0	0%	0
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	0	0%	0
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	0	0%	0
	Gross value at the end of period	NK	0	0%	0	0%	0

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

			31/03/2007		31/03/2006		31/03/2005
	Reserve for depreciation value at begin of period	0N	10 051	29,1%	7 786	47,7%	5 273
Increases		0P	1 711	-24,5%	2 265	-9,9%	2 513
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	11 762	17,0%	10 051	29,1%	7 786

Research and development charge (Total I)

			31/03/2007		31/03/2006		31/03/2005
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/03/2007		31/03/2006		31/03/2005
	Reserve for depreciation value at begin of period	PE	0	0%	0	0%	0
Increases		PF	0	0%	0	0%	0
Decreasess		PG	0	0%	05	0%	0
	Decreasess by budget item transfer	PH	0	0%	0	0%	0

Total fixed assets amotisation (Total III)

			31/03/2007		31/03/2006		31/03/2005
	Reserve for depreciation value at begin of period	QU	10 051	29,1%	7 786	0%	0
Increases		QV	1 711	-24,5%	2 265	0%	0
Decreases		QW	0	0%	0	0%	0
	Decreasess by budget item transfer	QX	11 762	17,0%	10 051	29,1%	7 786

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

			31/03/2007		31/03/2006		31/03/2005
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/03/2007		31/03/2006		31/03/2005
	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

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

			31/03/2007		31/03/2006		31/03/2005
	Value at begining of period	7C	0	0%	0	0%	0
Increases		UB	0	0%	0	0%	0
Decreases		UC	0	0%	0	0%	0
	Value at the end of period	UD	0	0%	0	0%	0

Includes Total allocations

Operating	UE	0	0%	0	0%	0
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	0	0%	0	0%	0
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			31/03/2007		31/03/2006		31/03/2005
	Value at begining of period	3Z	0	0%	0	0%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/03/2007		31/03/2006		31/03/2005
	Value at begining of period	5Z	0	0%	0	0%	0
Increases		TV	0	0%	0	0%	0
Decreases		TW	0	0%	0	0%	0
	Value at the end of period	TX	0	0%	0	0%	0

Total Provision for depreciation (Total III)

			31/03/2007		31/03/2006		31/03/2005
	Value at begining of period	7B	0	0%	0	0%	0
Increases		TY	0	0%	0	0%	0
Decreases		TZ	0	0%	0	0%	0
	Value at the end of period	UA	0	0%	0	0%	0

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

		31/03/2007		31/03/2006		31/03/2005
Gross value	VT	157 171	-24,7%	208 723	29,4%	161 301
1 year at most	VU	157 171	-24,7%	208 723	29,4%	161 301
More than one year	VV	0	0%	0	0%	0

State of loans

		31/03/2007		31/03/2006		31/03/2005
Claims related to holdings (gross)	UL	0	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	0	0%	0	0%	0
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/03/2007		31/03/2006		31/03/2005
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	0	0%	147 909	0%	0
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	0	0%	0	0%	0
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	0	0%	38 587	0%	0
Value added tax	VB	0	0%	20 946	0%	0
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	0	0%	1 281	0%	0

Prepaid

		31/03/2007		31/03/2006		31/03/2005
Prepaid	VS	0	0%	0	0%	0

State Debt

			31/03/2007		31/03/2006		31/03/2005
	Total debt (gross)	VY	231 832	13,4%	204 372	17,6%	173 792
1 year at most		VZ2	231 832	13,4%	204 372	17,6%	173 792
More than 1 year and 5 years at most		VZ3	0	0%	0	0%	0
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/03/2007		31/03/2006		31/03/2005
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	0	0%	0	0%	0
1 year at most		VG2	0	0%	0	0%	0
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	0
1 year at most		VH2	0	0%	15 753	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	0	0%	0	0%	0
1 year at most		8A2	0	0%	0	0%	216
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	143 859	0,1%	143 725	0%	0
1 year at most		8B2	143 859	0,1%	143 725	44,1%	99 752
More than 1 year and 5 years at most		8B3	0	0%	0	0%	0
	Personnel and associated accounts (gross)	8C1	0	0%	15 753	0%	0
1 year at most		8C2	0	0%	15 753	0%	0
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	87 973	429,5%	16 614	-77,5%	73 824
1 year at most		8D2	87 973	429,5%	16 614	-77,5%	73 824
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	0
1 year at most		8E2	0	0%	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	0	0%	28 280	0%	0
1 year at most		VW2	0	0%	28 280	0%	0
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
	Other taxes and assimilated (gross)	VQ1	0	0%	0	0%	0
1 year at most		VQ2	0	0%	0	0%	0
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	0	0%	0	0%	0
1 year at most		VI2	0	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	0	0%	0	0%	0
1 year at most		8K2	0	0%	0	0%	0
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	0	0%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/03/2007		31/03/2006		31/03/2005
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	0

Table allocation results and other information
Dividends distributed

		31/03/2007		31/03/2006		31/03/2005
Dividends	ZE	0	0%	125 000	0%	0

Commitments

		31/03/2007		31/03/2006		31/03/2005
Commitments leasing furniture	YQ	0	0%	0	0%	0
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/03/2007		31/03/2006		31/03/2005
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	4 560	0%	0
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	209 883	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	46 575	0%	0
Total Other purchases and external	ZJ	0	0%	261 019	0%	0

Taxes and Fees

		31/03/2007		31/03/2006		31/03/2005
Business tax	YW	0	0%	965	0%	0
Other taxes and payments assimilated	9Z	0	0%	1 065	0%	0
Total taxes and fees	YX	0	0%	2 030	0%	0

VAT

		31/03/2007		31/03/2006		31/03/2005
Amount VAT collected	YY	0	0%	90 761	0%	0
Total VAT on goods and services	YZ	0	0%	34 291	0%	0

Average number of employees

		31/03/2007		31/03/2006		31/03/2005
Average number of employees	YP	0	0%	01	0%	0

Groups and Shareholders

		31/03/2007		31/03/2006		31/03/2005
Groups and Shareholders	ZR	-	-	-	-	-

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

		31/03/2007		31/03/2006		31/03/2005	Sector Median 2007
Fixed Asset Financing		8,52	21,5%	7,01	-41,9%	12,06	7,77	9,7%
Global Debt		156 days	-1,9%	159 days	23,3%	129 days	403 days	-61,3%
Working Capital Fund overall net		89 days	8,5%	82 days	-38,3%	133 days	176 days	-49,4%
Financial independence		%	-	%	-	%	101,04%	-
More ratios
Solvability		37,27%	4,7%	35,60%	-31,2%	51,76%	19,29%	93,2%
Capacity debt futures		%	-	717,21%	-	%	216,94%	-
Coverage of current assets by net working capital overall		36,27%	6,6%	34,04%	-32,8%	50,68%	46,70%	-22,3%
General Liquidity		0,68	-33,3%	1,02	9,7%	0,93	0,39	74,4%
Restricted Liquidity		1,57	3,3%	1,52	-25,1%	2,03	0,94	67,0%

Management or rotation

		31/03/2007		31/03/2006		31/03/2005	Sector Median 2007
Need background in operating working capital		-50 days	-1766,7%	3 days	133,3%	-9 days	131 days	-138,2%
Treasury		139 days	75,9%	79 days	-44,4%	142 days	30 days	363,3%
Inventory turnover of goods		days	-	days	-	days	36 days	-
Average length of credit granted to customers		89 days	-7,3%	96 days	-12,7%	110 days	21 days	323,8%
Average length of credit obtained suppliers		242 days	38,3%	175 days	-16,3%	209 days	93 days	160,2%
More ratios
Inventory turnover of raw materials in industrial enterprises		days	-	days	-	days	0 days	-
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	2425 days	-
Rotation tangible assets		3042,74%	15,3%	2638,11%	-	%	1293,25%	135,3%

Profitability of the business

		31/03/2007		31/03/2006		31/03/2005	Sector Median 2007
Margin trading		0%	0%	0%	0%	0	0%	0%
Profitability of the business		34,24	129,6%	14,91	-59,6%	36,90	10,72%	219,4%
Net profit		23,92%	115,1%	11,12%	-57,0%	25,86%	9,47%	152,6%
More ratios
Growth rate of turnover (excluding VAT)		15,34%	445,5%	-4,44%	-152,5%	8,46%	0%	0%
Rates integration		59,90%	37,3%	43,63%	-32,3%	64,49%	24,08%	148,8%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		41,36%	-36,2%	64,83%	53,4%	42,27%	0%	0%
Weight interests		0	0%	0%	0%	0%	1,20%	0%

Return on capital

		31/03/2007		31/03/2006		31/03/2005	Sector Median 2007
Cash flow from the overall profitability		24,24%	108,8%	11,61%	-56,0%	26,38%	9,72%	149,4%
Rates of economic profitability		133%	118,0%	61%	-36,5%	96%	2%	6550,0%
Financial profitability		137736%	21,9%	112982%	-39,4%	186477%	81517%	69,0%
Return on investment		92,75%	103,4%	45,59%	-32,1%	67,12%	7,92%	1071,1%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/03/2007		31/03/2006		31/03/2005	Sector Median 2007
Turnover	534 093	15,3%	463 068	-4,4%	484 581	171 865 €	210,8%

Sales of goods	0	0%	0	0%	0
- Purchase of goods	0	0%	0	0%	0
+/- Stock of goods variation	0	0%	0	0%	0
Trading margin	0 €	0%	0 €	0%	0 €	0 €	0%
	0,00 % CA	0%	0,00 % CA	0%	0,00 % CA	0 % CA	0%

Sale of goods produced	534 093	15,3%	463 068	-4,4%	484 581
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	534 093 €	15,3%	463 068 €	-4,4%	484 581 €	121 438 €	339,8%
	100,00 % CA	0%	100,00 % CA	0%	100,00 % CA	100 % CA	0%

Trading margin	0	0%	0	0%	0	0	0%
+ Period Production	534 093	15,3%	463 068	-4,4%	484 581	121 438	339,8%
- Purchase of raw materials	0	0%	0	0%	0
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	214 183	-17,9%	261 019	51,7%	172 077
Added value	319 910 €	58,3%	202 049 €	-35,3%	312 504 €	35 198 €	808,9%
	59,90 % CA	37,3%	43,63 % CA	-32,3%	64,49 % CA	23,87 % CA	150,9%

Added value	319 910 €	58,3%	202 049 €	-35,3%	312 504 €	35 198 €	808,9%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	4 743	133,6%	2 030	26,0%	1 611
- Personal charges	132 310	1,0%	130 984	-0,8%	132 083
Gross operating surplus	182 857 €	164,9%	69 035 €	-61,4%	178 810 €	0 €	0%
	34,24 % CA	129,6%	14,91 % CA	-59,6%	36,90 % CA	10,68 % CA	220,6%

Gross operating surplus	182 857 €	164,9%	69 035 €	-61,4%	178 810 €	0 €	0%
+ Release of reserves and provisions	0	0%	0	0%	2 386
+ Other operating income	0	0%	0	0%	0
- Depreciation/Amortisation	1 711	-24,5%	2 265	-9,9%	2 513
- Other charges	0	0%	0	0%	0
Operating result	181 146 €	171,3%	66 770 €	-62,6%	178 683 €	2 550 €	7003,8%
	33,92 % CA	135,2%	14,42 % CA	-60,9%	36,87 % CA	10,09 % CA	236,2%

Operating result	181 146 €	171,3%	66 770 €	-62,6%	178 683 €	2 550 €	7003,8%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	0	0%	0	0%	0
- Financial charges	0	0%	0	0%	0
Pre-tax result	181 146 €	171,3%	66 770 €	-62,6%	178 683 €	14 445 €	1154,0%
	33,92 % CA	135,2%	14,42 % CA	-60,9%	36,87 % CA	9,50 % CA	257,1%

Extraordinary income	0	0%	04	0%	0	0	0%
- Extraordinary charges	0	0%	0	0%	28
Extraordinary result	0 €	0%	04 €	114,3%	-28 €	0 €	0%
	0,00 % CA	0%	0,00 % CA	0%	0 % CA	0 % CA	0%

Pre-tax result	181 146 €	171,3%	66 770 €	-62,6%	178 683 €	14 445 €	1154,0%
Extraordinary result	0 €	0%	04 €	114,3%	-28 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	53 394	249,7%	15 269	-71,4%	53 351
Net result	127 752 €	148,0%	51 505 €	-58,9%	125 304 €	16 085 €	694,2%
	23,92 % CA	115,1%	11,12 % CA	-57,0%	25,86 % CA	8,31 % CA	187,8%

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Trends
	Profitability
	Liquidity
	Net worth

Type	Head office	Status	Economically active
	Formation Date	09/2007	Reason for formation	Formation
	Closure Date		Reason for closure
	Reactivation Date		Production Role
	Activity Nature		Activity Location
	Location surface		Seasonality

Department	Aveyron (12)	Region	Midi-Pyrénées
District	1	Area	97
City	MILLAU	Size of urban area

Other establishments

Branches	1 branch entities in this company
Head office	> CIVAD SARL <<<  - Promotion immobilière d'autres bâtiments (4110C)  in MILLAU  (12100)
Secondary establishments	>  CIVAD SARL  - Promotion immobilière d'infrastructures (701C)  in NARBONNE  (11100) >  CIVAD SARL  - Promotion immobilière d'infrastructures (701C)  in NARBONNE  (11100)

Regionality	Legal unit with all establishments in same area
Mono-activity status	Legal unit having all establishments with the same main activity

Workforces

Workforce at address

1 or 2 employees

Company workforce

1 or 2 employees

event history

Status history

Date	Description
No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
21/03/2008	Bodacc A	Immatriculation
12 - AVEYRON GREFFE DU TRIBUNAL DE COMMERCE DE MILLAU 345 - 327 325 106 RCS Millau. CIVAD. Forme : Société à responsabilité limitée. Administration : Gérant(e) : AYOT Laurent Maurice René. Gérant(e) : DUVIOL Christian Paul Joseph. Capital : 8000 EUR. Adresse : 687 avenue de l'Europe, 12100 Millau. Origine du fonds : Transfert de siège (origine hors ressort). Etablissement : Etablissement principal. Activité : Réalisation de constructions ou de bâtiments agricoles, industriels, administratifs, d'habitations ou divers ainsi que le négoce de tous produits ou prestations de services. Adresse : 687 avenue de l'Europe, 12100 Millau. A dater du : 05/11/2007. Date de commencement de l’activité : 14/09/2007. Descriptif : Modification survenue sur l'administration et transfert de l'établissement principal, transfert du siège social. Commentaires : Immatriculation d'une personne morale suite à transfert de son siège social.
25/01/2008	Bodacc C	Comptes annuels et rapports
12 - AVEYRON GREFFE DU TRIBUNAL DE COMMERCE DE MILLAU 685 - 327325106 RCS. CIVAD. Forme : Société à responsabilité limitée. Adresse : 687 avenue de l'Europe 12100 Millau. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/03/2007.
15/09/2006	Bodacc C	Avis de dépôt des comptes
640 - RCS Narbonne B 327 325 106. RC 83-B 54. CIVAD. Forme: S.A.R.L.. Adresse du siège social: 6, rue de l'Amazonite,11100 Narbonne. Comptes annuels et rapports de l'exercice clos le: 31 mars 2006.
12/08/2005	Bodacc C	Avis de dépôt des comptes
399 - RCS Narbonne B 327 325 106. RC 83-B 54. CIVAD. Forme: S.A.R.L.. Adresse du siège social: 6, rue de l'Amazonite,11100 Narbonne. Comptes annuels et rapports de l'exercice clos le: 31 mars 2005.
13/12/2002	Bodacc B	Modifications et mutations diverses
RCS Narbonne B 327325106 RC 83-B 54 CIVAD. Forme : S.A.R.L. Capital : 8 000 euros. Adresse du siège social : 6 rue de l'Amazonite, 11100 Narbonne. Commentaires : modification survenue sur l'adresse du siège social et l'adresse de l'établissement principal Etablissement principal: Adresse : 6 rue de l'Amazonite, 11100 Narbonne. Date d'effet : 1 e r octobre 2002.
05/09/2001	Bodacc B	Modifications et mutations diverses
RCS Narbonne B 327325106 RC 83-B 54 CIVAD. Forme : S.A.R.L. Capital : 8 000 euros. Adresse du siège social : 6 bis rue Paul-Brousse, 11100 Narbonne. Commentaires : modification survenue sur le capital (augmentation et conversion en euros). Date d'effet : 2 juillet 2001.

Company events history

Date	Description
03/04/2008	Updated articles of association
03/04/2008	Minutes of general meeting of shareholders
03/04/2008	Private document
03/04/2008	New closing date
21/03/2008	New Bodacc A ads detected
21/03/2008	Bodacc A : Registration
25/01/2008	Bodacc C : Deposit accounts notice
05/11/2007	Private document
05/11/2007	Appointment/resignation of company officers
05/11/2007	Updated articles of association
05/11/2007	Registration after transfer
05/11/2007	Sale of shares
05/11/2007	Minutes of general meeting of shareholders
05/11/2007	New manager
14/09/2007	Transfer of Establishment
14/09/2007	Update of Company Head Office Identifier
31/03/2007	New accounts available
31/03/2006	New accounts available
31/03/2005	New accounts available
31/03/2004	New accounts available
31/03/2003	New accounts available
20/11/2002	PV d'Assemblée
20/11/2002	Transfert du Siège dans le ressort du Tribunal de Commerce
20/11/2002	Acte sous seing privé
20/11/2002	Statuts mis à jour
27/07/2001	Statuts mis à jour
27/07/2001	PV d'Assemblée
27/07/2001	Acte sous seing privé
27/07/2001	Conversion du Capital Social en Euros
27/07/2001	Augmentation de Capital
17/05/2001	Donation/Partage
17/05/2001	Expédition acte notarié
09/05/2001	Cession de parts
09/05/2001	Acte sous seing privé
07/03/1994	Réduction de Capital
07/03/1994	Déclaration de conformité
07/03/1994	Statuts mis à jour
07/03/1994	PV d'Assemblée
23/09/1993	PV d'Assemblée
07/03/1993	Augmentation de Capital
07/03/1993	Réduction de Capital
07/03/1993	PV d'Assemblée
07/03/1993	Statuts mis à jour
07/03/1993	Déclaration de conformité

Establishment events history

Date	Description
09/12/2011	Update Rating
21/07/2011	Update Rating
27/09/2010	Update Rating
07/02/2010	Update Rating
29/12/2009	Update Rating
06/12/2008	Update Rating
27/12/2007	Update Rating
27/12/2007	Update Limit
26/12/2007	Update Rating
19/12/2007	Update Rating
16/12/2007	Update Limit
10/12/2007	Update Limit
09/12/2007	Update Limit
08/12/2007	Update Rating
14/09/2007	Formation of Head office (after transfer)

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.50.59
UK Pound	1	Rs.80.34
Euro	1	Rs.67.14

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.