MIRA
INFORM REPORT
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Report Date : |
28.11.2012 |
IDENTIFICATION DETAILS
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Name : |
CHILLI PEPPER SHOES COMPANY SL |
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Registered Office : |
Calle Viladomat, 140 - Bi 1, 08015 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
03.09.2007 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Spain |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
spain - ECONOMIC OVERVIEW
spain's mixed capitalist economy is the 13th largest
in the world, and its per capita income roughly matches that of Germany and
France. However, after almost 15 years of above average GDP growth, the Spanish
economy began to slow in late 2007 and entered into a recession in the second
quarter of 2008. GDP contracted by 3.7% in 2009, ending a 16-year growth trend,
and by another 0.1% in 2010, before turning positive in 2011, making Spain the
last major economy to emerge from the global recession. The reversal in
Spain''s economic growth reflected a significant decline in construction amid
an oversupply of housing and falling consumer spending, while exports actually
have begun to grow. Government efforts to boost the economy through stimulus
spending, extended unemployment benefits, and loan guarantees did not prevent a
sharp rise in the unemployment rate, which rose from a low of about 8% in 2007
to over 20% in 2011. The government budget deficit worsened from 3.8% of GDP in
2008 to 9.2% of GDP in 2010, more than three times the euro-zone limit. Madrid
cut the deficit to 8.5% of GDP in 2011, a larger deficit than the 6% target
negotiated between Spain and the EU. Spain''s large budget deficit and poor
economic growth prospects have made it vulnerable to financial contagion from
other highly-indebted euro zone members despite the government''s efforts to
cut spending, privatize industries, and boost competitiveness through labor
market reforms. Spanish banks'' high exposure to the collapsed domestic
construction and real estate market also poses a continued risk for the sector.
The government oversaw a restructuring of the savings bank sector in 2010, and
provided some $15 billion in capital to various institutions. Investors remain
concerned that Madrid may need to bail out more troubled banks. The Bank of
Spain, however, is seeking to boost confidence in the financial sector by
pressuring banks to come clean about their losses and consolidate into stronger
groups.
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Source : CIA |
Company name
CHILLI PEPPER SHOES COMPANY SL
CIF/NIF: B64654353
Company situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: CHILLI PEPPER SHOES COMPANY SL
Other names: YES
Current Address: CALLE VILADOMAT, 140 - BI 1
Telephone number: 934537788 Fax: 934538618
Corporate e-mail: info@chillipeppershoes.com
Trade Risk
Incidents: NO
Financial Information
Balance sheet latest sales (2011): 4.102.181,23
(Mercantile Register)
Result: 151.097,92
Total Assets: 1.298.430,58
Share capital: 180.000,00
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 03/09/2007
Activity: Traders of textile products,
footwear, etc.
NACE 2009 CODE: 4616
International Operations: Imports and
Exports
Corporate
Structure
Sole Administrator:
Other
Complementary Information
Latest act published in BORME: 26/10/2011 Annual Filed Accounts
Bank Entities: There are
The date when this report was last updated is 24/11/2012.
The information contained in this report has been investigated and
contrasted on 08/06/2012
Financial situation
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Exercise:2011 |
Evolution |
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Treasury |
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Excellent |
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Indebtedness |
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Average |
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Profitability |
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Average |
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Balance |
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Excellent |
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Performance
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Incidents |
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None or Negligible |
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Business
Trajectory |
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Superior |
Rating Explanation
Financial situation
The companys financial situation is good.
The companys financial situation evolution has
been negative.
The sales evolution and results has
been positive.
Company Structure
The companys capitalization degree determines that
its structure is normal.
The companys size is small depending on
its sales volume.
Performance and Incidences
The available information indicates that the
company does not have payment incidences.
He have detected no recent legal actions or claims
from the Administration against this company.
Accounts Filing
The company files regularly its accounts.
Reasons of the
last outstanding calculation in the note
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DATE |
CHANGE |
RESULTING NOTE |
EVENT |
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01/10/2012 |
Equal |
16 |
New financial statements have been uploaded. |
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07/01/2012 |
Equal |
16 |
There has been a variation in the risk associated
to the activity sector of the company. |
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18/11/2011 |
Increase |
16 |
New financial statements have been uploaded. |
INCIDENTS
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: No administrative claims registered
AFFECTED BY: No significant element.
FINANCIAL ELEMENTS AND SECTORIAL
COMPARATIVE
FINANCIAL ELEMENTS
Figures given in
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31/12/2011 (12) |
% ASSETS |
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
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ASSETS |
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A) NON CURRENT ASSETS |
3.191,07 |
0,25 |
2.907,79 |
0,36 |
189.175,21 |
58,59 |
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B) CURRENT ASSETS |
1.295.239,51 |
99,75 |
799.454,11 |
99,64 |
133.699,30 |
41,41 |
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LIABILITIES |
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A) NET WORTH |
437.119,43 |
33,67 |
286.021,51 |
35,65 |
164.614,36 |
50,98 |
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B) NON CURRENT LIABILITIES |
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C) CURRENT LIABILITIES |
861.311,15 |
66,33 |
516.340,39 |
64,35 |
158.260,15 |
49,02 |
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Balance Sheet
Comments
Total assets of the company grew in 61,83%
between 2.010 and 2.011.
This growth has been inferior in the case of the non current assets that
increased just in 9,74%.
This growth has been mainly financed with a debt increase
of 66,81%. Nevertheless Net Worth grew 52,83%.
Total assets of the company grew in 148,51%
between 2.009 and 2.010.
In spite of the assets growth, non current assets
decreased 98,46%.
This growth has been mainly financed with a debt increase
of 226,26%. Nevertheless Net Worth grew 73,75%.
Profit and loss
account analysis
Figures given in
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31/12/2011 (12) |
% NET TURNOVER |
31/12/2010 (12) |
% NET TURNOVER |
31/12/2009 (12) |
% NET TURNOVER |
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SALES |
4.102.181,23 |
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2.295.799,11 |
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299.236,07 |
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GROSS MARGIN |
866.018,35 |
21,11 |
532.366,11 |
23,19 |
80.043,10 |
26,75 |
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EBITDA |
213.574,33 |
5,21 |
165.709,76 |
7,22 |
14.155,03 |
4,73 |
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EBIT |
205.846,68 |
5,02 |
164.192,12 |
7,15 |
13.661,89 |
4,57 |
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NET RESULT |
151.097,92 |
3,68 |
121.407,15 |
5,29 |
11.080,55 |
3,70 |
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EFFECTIVE TAX RATE (%) |
25,00 |
0,00 |
25,79 |
0,00 |
25,00 |
0,01 |
Profit and Loss
Account Comments
The companys sales figure grew
in 78,68% between 2.010 and 2.011.
The companys EBIT grew
in 25,37% between 2.010 and 2.011.
This evolution implies a reduction in the companys economic
profitability .
The result of these variations is a decrease of the companys Operating
Profitability of 20,34% in the analysed period, being this
profitability of 16,45% in the year 2.011.
The Net Result of the company grew
in 24,46% between 2.010 and 2.011.
The companys Financial Profitability has been negatively affected by
the financial activities in comparison with EBITs behaviour .
The result of these variations is a reduction of the companys economic
profitability of 19,42% in the analysed period, being equal
to 46,09% in the year 2.011 .
The companys sales figure grew
in 667,22% between 2.009 and 2.010.
The companys EBIT grew
in 1.101,83% between 2.009 and 2.010.
This evolution implies an increase in the companys economic
profitability .
The result of these variations is an increase of the companys Economic
Profitability of 371,46% in the analysed period, being equal
to 20,65% in the year 2.010.
The Net Result of the company grew
in 995,68% between 2.009 and 2.010.
The companys Financial Profitability has been negatively affected by
the financial activities in comparison with EBITs behaviour .
The result of these variations is an increase of the companys Economic
Profitability of 536,97% in the analysed period, being equal
to 57,20% in the year 2.010 .
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
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COMPANY (2011) |
SECTOR |
DIFFERENCE |
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BALANCE SHEET ANALYSIS: % on the total
assets |
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ASSETS |
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A) NON CURRENT ASSETS |
0,25 |
35,58 |
-35,33 |
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A) CURRENT ASSETS |
99,75 |
64,42 |
35,33 |
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LIABILITIES |
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A) NET WORTH |
33,67 |
41,62 |
-7,96 |
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B) NON CURRENT LIABILITIES |
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12,07 |
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C) CURRENT LIABILITIES |
66,33 |
46,31 |
20,03 |
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COMPANY (2011) |
SECTOR |
DIFFERENCE |
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PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
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SALES |
100,00 |
99,11 |
0,89 |
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GROSS MARGIN |
21,11 |
32,56 |
-11,44 |
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EBITDA |
5,21 |
3,07 |
2,14 |
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EBIT |
5,02 |
1,87 |
3,15 |
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NET RESULT |
3,68 |
0,75 |
2,93 |
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Sector Composition
Compared sector (NACE 2009): 4616
Number of companies: 16
Size (sales figure): 2,800,000.00 - 7,000,000.00 Euros
Comments on the
sectorial comparative
Compared to its sector the assets of the companies show an
inferior proportion of non current assets. Specifically the difference with the
sector average is -35,33% .
In liabilities composition the company turns to on a smaller scale to
self financing, being the Net Worth proportion 7,96% inferior. As a
consequence, external financing sources are more used by the company
( 7,96% more than the sector) .
The proportion that the sales mean to the companys total ordinary income
is 100,00% , an 0,89% higher than in the sector .
The companys EBIT was positive and was 5,02% with regard to
the total ordinary income, 3,15% superior to the one of the sector .
The companys capacity to generate operating income is superior to that
of the sector as its ratio EBIT/Sales is greater. (0,05 in comparison
with 0,02) .
The companys net result was positive and equal to 3,68% with
regard to the total ordinary income, 2,93% superior to the one of the
sector .
The financial results and the tax impact have had a negative impact on
the net result of the company with a worse behaviour that the one of the sector
.
OTHER DATA FROM THE ANNUAL FINANCIAL REPORT
Results
Distribution
Source: annual financial report 2011
Figures given in
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DISTRIBUTION BASE |
APPLICATION A |
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Profit and Loss Account Balance |
151.097,92 |
Legal Reserve |
15.109,79 |
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Carry over |
0,00 |
Goodwill reserve |
0,00 |
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Voluntary reserves |
0,00 |
Special reserves |
0,00 |
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Other reserves disposable at will |
0,00 |
Voluntary reserves |
135.988,13 |
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Total of Amounts to be distributed |
151.097,92 |
Dividends |
0,00 |
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Carry over and others |
0,00 |
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Compensation of previous exercises losses |
0,00 |
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Application total |
151.097,92 |
company ADDRESSES
Current Legal Seat Address:
CALLE VILADOMAT, 140 - BI 1
08015 BARCELONA
Characteristics of
the current address
Type of establishment: store
Owners: rented
Local Situation: main
CORPORATE STRUCTURE
ADMINISTRATIVE
LINKS
Governing body : 1 member (latest change:
09/10/2007)
Operative Board Members : 2 (latest change: 08/05/2012)
Main Board
members, Directors and Auditor
Governing body
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POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
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SOLE ADMINISTRATOR |
PRAT CARLOS, HUMBERT |
09/10/2007 |
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There are 1 board members, directors and auditors registered
Board members remuneration
Source: Annual financial report 2010
Board members remuneration: 0,00
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POSITION |
NAME AND SURNAME |
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Manager |
PRAT CARLOS, HUMBERT |
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Financial Manager |
PRAT CARLOS, HUMBERT |
FINANCIAL LINKS
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BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
PASOS CADIZ SL |
B11207123 |
16,66 |
OWN SOURCES |
08/06/2012 |
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HUMBERT & PRAT SL |
B63386528 |
Indef. |
OWN SOURCES |
08/06/2012 |
There are 2 direct financial links through shareholders
registered
BUSINESS INFORMATION
Incorporation date: 03/09/2007
Establishment date: 01/01/2007
Founders Name: LA TITULR ES LA FUNDADORA INICIAL DEL NEGOCIO
Activity: Traders of textile products, footwear, etc.
NACE 2009 CODE: 4616
NACE 2009 Activity: Agents involved in the sale of textiles,
clothing, fur, footwear and leather goods
Business: LA FABRICACION, COMERCIALIZACION, DISTRIBUCION,
IMPORTACION, EXPORTACION, AL MAYOR Y AL DETALLE DE CALZADO DE TODO TIPO,
ARTICULOS DE CUERO, MARROQUINERIA Y DE TODO TIPO DE COMPLEMENTOS DE MODA.
PURCHASES
Imports from: UE E INDIA
SALES
Exports to: UE
SUPPLIERS
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BUSINESS NAME |
INTERNATIONAL |
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KIWI ENTRERPRISE |
YES |
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RIVA DE MARE |
NO |
There are 2 Suppliers
CLIENTS
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BUSINESS NAME |
INTERNATIONAL |
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SOCIEDAD GESTORA DE ZAPATERIAS |
NO |
There are 1 Clients
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ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
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CAIXABANK, S.A. |
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BARCLAYS BANK, S.A. |
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BARCELONA |
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There are 2 bank entities registered
Brand name: RIVA DI MARE (Valid)
Type: DENOMINATIVE Scope: COMMUNITARY
Date: 11/02/2009
There are 1 brands, signs and commercial names
LEGAL STRUCTURE
Constitution Data
Register Date: 03/09/2007
Register town: Barcelona
Announcement number: 505493
Register data:
Volume 39907, Folio 82, Section 8, Sheet 356270,
Inscription I/A 1 (2007-09-20)
Share capital: 3.010
Legal form: Limited Liability Company
Share capital: 180.000,00
Obligation to fill in Financial Statements: YES
Chamber census: YES (2010)
B.O.R.M.E.
(OFFICIAL GAZETTE OF
THE MERCANTILE REGISTER)
Acts on activity: 0
Acts on administrators: 1 (Last: 09/10/2007)
Acts on capital: 2 (Last: 22/12/2009, first:
30/10/2007)
Acts on creation: 1 (Last: 09/10/2007)
Acts on filed accounts: 4 (Last: 26/10/2011, first:
03/10/2008)
Acts on identification: 0
Acts on Information: 2 (Last: 30/10/2007, first:
09/10/2007)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Annual Filed Accounts (2010) |
26/10/2011 |
851746 |
Barcelona |
|
Annual Filed Accounts (2009) |
29/10/2010 |
921344 |
Barcelona |
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Capital enlargement (IA) |
22/12/2009 |
530641 |
Barcelona |
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Annual Filed Accounts (2008) |
28/09/2009 |
512905 |
Barcelona |
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Annual Filed Accounts (2007) |
03/10/2008 |
734185 |
Barcelona |
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Other concepts |
30/10/2007 |
539346 |
Barcelona |
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Capital enlargement (IA) |
30/10/2007 |
539346 |
Barcelona |
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Other concepts |
09/10/2007 |
505493 |
Barcelona |
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Appointments |
09/10/2007 |
505493 |
Barcelona |
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Constitution |
09/10/2007 |
505493 |
Barcelona |
There are 10 acts registered
ADDITIONAL INFORMATION
This company has been consulted was last displayed on 18/10/2012,
8 times in the last quarter and 90 total times.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
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UK Pound |
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 SCs 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.