MIRA INFORM REPORT

 

 

Report Date :

04.10.2012

 

IDENTIFICATION DETAILS

 

Name :

SHOEBY FRANCHISE B.V.

 

 

Registered Office :

Burgemeester Burgerslaan 40 A, 5245NH Rosmalen

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

27.06.1995

 

 

Com. Reg. No.:

16078843

 

 

Legal Form :

Besloten Vennootschap

 

 

Line of Business :

Wholesale of textile products

 

 

No. of Employees :

215

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No complaints

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Netherlands

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

NETHERLANDS - ECONOMIC OVERVIEW

 

The Dutch economy is the fifth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, a sizable trade surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009 as a result of the global financial crisis. The Dutch financial sector suffered, due in part to the high exposure of some Dutch banks to U.S. mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. The government also sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing fiscal consolidation measures in early 2011, mainly reductions in expenditures, which resulted in an improved budget deficit of 3.8% of GDP

Source : CIA

CONTACTINFORMATION

 

Company name

Shoeby Franchise B.V.

Tradename

Shoeby Franchise B.V.

Address

Burgemeester Burgerslaan 40 A

 

5245NH Rosmalen

 

Netherlands

Mail address

Postbus 12

 

5240AA Rosmalen

 

Netherlands

Telephone number

0735118019

Telefax number

0735113078

E-mail address

info@shoebyfranchise.nl

Website

www.shoebyfashion.nl

VAT number / RSIN

803925207

 

 

COMPANY INFORMATION

 

Handelsregisternummer 16078843

Registered in                             Chamber of commerce Brabant

First registration                         30-06-1995

Act of foundation                        27-06-1995

Date of constitution                    27-06-1995

Last change in statutes              10-09-1999

 

Legal form                                 Besloten Vennootschap

 

Place of constitution

Rosmalen

 

Capital

EUR

 

Issued capital

EUR 18.151,21

 

Paid up capital

EUR 18.151,21

 

 

NACE-code

Wholesale of textile products (51426)

SBI-code

Wholesale of textile products (46429)

Formal objective

De handel in textiel- en aanverwante goods in een franchiseorganisatie

 

Employees

Total: 215

 

 

Employees according to CoC

Chamber of commerce: 77

 

 

Bookyear

2012

2011

2010

Number

215

215

213

Change

0,00%

0,94%

5,45%

 

 

COMPANY STRUCTURE

 

Shareholder

Shoeby-Shop Holding B.V.

 

Burgemeester Burgerslaan 40

 

5245NH ROSMALEN

 

Netherlands

 

KvK:16075543

 

Active since: 21-04-1998

 

Percentage: 100.00%

Ultimate parent company

VDR Holding B.V.

 

Zuidplein 76

 

1077XV AMSTERDAM

 

KvK: 51450046

Holding company

Shoeby-Shop Holding B.V.

 

Burgemeester Burgerslaan 40

 

5245NH ROSMALEN

 

KvK:16075543

Affiliated companies

Shoeby-Shop B.V.

 

Burgemeester Burgerslaan 40

 

5245NH ROSMALEN

 

KvK:16054462

 

Shoeby Leasing Partners B.V.

 

Burgemeester Burgerslaan 40

 

5245NH ROSMALEN

 

KvK: 17195207

 

Bank                                         ING Bank NV

Account number: 65.51.87.286

 

Real estate                                Lease

The real estate is checked at the land registration office

 

Object code: ROSMALEN H 4750 gedeeltelijk

Owner: DUTCH ACTIVE FUND PROPCO B.V.

 

 

MANAGEMENT

 

Management

Shoeby-Shop Holding B.V.

 

Burgemeester Burgerslaan 40

 

5245NH ROSMALEN

 

Netherlands

 

KvK: 16075543

 

Authorization: Fully authorized

 

Position: Manager

 

Date appointed: 16-11-2000

 

J.J. den Arend

 

Johannes Jan

 

Authorization: Limited authorization

 

Position: Proxy

 

Date appointed: 24-01-2005

 

Date of birth: 06-07-1961

 

Other directorships:

 

- Proxy: Lake Side Franchise B.V. - Rosmalen (KvK: 02040129)

 

 

 

PAYMENT INFORMATION

 

Payment experiences     Payments are regular, no complaints are known

 

Payments                     Based on multiple payment experiences up to € 50.000

 

Quarter: 1 2012: 58 Average days

Quarter: 2 2012: 50 Average days

Quarter: 3 2012: 39 Average days

Quarter: 4 2012: 39 Average days

 

 

invoices

current quarter

2012 Q3

2012 Q2

2012 Q1

Total

54

100%

162.531

162.531

198.147

179.546

Within terms

34

82,2%

133.556

133.556

80.755

102.496

Delayed 0 - 30

13

13,5%

22.011

22.011

117.392

61.142

Delayed 31 - 60

3

3,2%

5.164

5.164

 

3.873

Delayed 61 - 90

2

1,1%

1.800

1.800

 

 

Delayed 91 - 120

1

0,0%

 

 

 

4.814

Delayed 120+ days

1

0,0%

 

 

 

7.221

 

 

FINANCIAL INFORMATION

 

Auditor

Verhoeven Accountants B.V.

Publication financial statement

Annual accounts 2010 are published on 05-10-2011

 

Annual accounts 2009 are published on 07-12-2010

 

Annual accounts 2008 are published on 12-02-2010

 

Annual accounts 2007 are published on 31-10-2008

Type of publication

Corporate

Publication

Publication according to obligations by law

 

 

CORE FIGURES

 

 

 

BOOKYEAR

2010

2009

2008

Quick ratio

3,79

2,93

1,36

Current ratio

4,47

3,81

1,87

Nett workingcapital / Balance total

0,65

0,53

0,33

Capital and reserves / Balance total

0,81

0,81

0,63

Capital and reserves / Fixed assets

5,14

2,94

2,10

Solvency

4,31

4,25

1,67

Nett workingcapital

22.906.111

11.945.791

5.999.000

Capital and reserves

28.436.706

18.101.894

11.436.000

Change capital and reserves

57,09%

58,29%

156,93%

change short term liabilities

55,13%

-37,98%

6,21%

Operating profit

10.461.716

6.459.171

6.662.000

Profitability operating profit

positive

positive

positive

 

Last annual accounts

2010

 

Type of publication

Corporate

Gross profit

2010:

27.900.595

 

2009:

22.700.830

 

2008:

18.495.000

 

2007:

16.357.000

 

2006:

13.654.000

 

2005:

9.737.000

Operating profit

2010:

10.461.716

 

2009:

6.459.171

 

2008:

6.662.000

 

2007:

5.040.000

 

2006:

3.346.000

 

2005:

2.260.000

Result after taxes

2010:

10.334.812

 

2009:

6.684.430

 

2008:

6.504.000

 

2007:

3.319.000

 

2006:

1.349.000

 

2005:

1.613.000

 

Tendency

Tendency capital and reserves


Capital and reserves       2010 28.436.706

Total debt                      2010 6.601.215

Current ratio                  2010 4,47

Quick ratio                    2010 3,79

Nett workingcapital         2010 22.906.111

 

Profitability                    More than sufficient

 

 

 

 

Balance

 

BOOKYEAR

2010

2009

2008

End of bookyear

31-12-2010

31-12-2009

31-12-2008

Intangible assets

781.303

837.719

448.000

Tangible assets

3.163.734

4.086.204

3.998.000

Financial assets

1.585.558

1.232.180

990.000

Fixed assets

5.530.595

6.156.103

5.437.000

 

Stocks and work in progress

4.509.872

3.753.046

3.551.000

Trade debtors

5.812.275

5.253.809

 

Accounts receivable

15.548.200

9.974.507

5.872.000

Liquid assets

9.449.254

2.473.576

3.436.000

Current assets

29.507.326

16.201.129

12.860.000

Total assets

35.037.921

22.357.232

18.296.000

 

Capital and reserves

28.436.706

18.101.894

11.436.000

Other short term debts

2.543.359

2.040.765

3.450.000

Total short term debt

6.601.215

4.255.338

6.861.000

Total debt

6.601.215

4.255.338

6.861.000

Total Liabilities

35.037.921

22.357.232

18.296.000

 

PROFIT & LOSS ACCOUNT

 

 

 

BOOKYEAR

2010

2009

2008

Gross profit

27.900.595

22.700.830

18.495.000

Wages employees

6.064.617

5.430.377

5.689.000

Depreciation and amortization

1.042.519

951.504

658.000

Other operating charges

10.331.743

9.859.778

5.485.000

Operating charges

17.438.879

16.241.659

11.832.000

Operating profit

10.461.716

6.459.171

6.662.000

Financial income

 

262.733

 

Financial charges

126.904

37.474

158.000

Financial result

-126.904

225.259

-158.000

Result before taxes

10.334.812

6.684.430

6.504.000

Result after taxes

10.334.812

6.684.430

6.504.000

Nett result

10.334.812

6.684.430

6.504.000

 

 

Company structure

 

• VDR Holding B.V. (51450046) AMSTERDAM

Lake Side Franchise B.V. (02040129)

Rosmalen

Subsidiary (100%)

Lake Side Stores B.V. (17188394)

ROSMALEN

Subsidiary (100%)

Lake Side Finance B.V. (17195957) Vianen Ut

Subsidiary (100%)

Lake Side Rental B.V. (30227450)

ROSMALEN

Subsidiary (100%) Jeans & Co. B.V. (17147051)

ROSMALEN

Subsidiary (100%)

New Bike B.V. (20045873)

ROSMALEN

Subsidiary (100%)

Shoeby Retail Partners B.V. (34134351)

ROSMALEN

Subsidiary (100%)

Shoeby-Shop Holding B.V. (16075543)

ROSMALEN

Subsidiary

Shoeby-Shop B.V. (16054462)

ROSMALEN

Subsidiary (100%)

■          Shoeby Franchise B.V. (16078843) Rosmalen

Subsidiary (100%)

Shoeby Leasing Partners B.V. (17195207)

ROSMALEN

Subsidiary (100%)

Shoeby Fashion International B.V. (16018670)

ROSMALEN

Subsidiary (100%)

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.33

UK Pound

1

Rs.84.30

Euro

1

Rs.67.44

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.