MIRA INFORM REPORT

 

 

Report Date :

25.03.2013

 

IDENTIFICATION DETAILS

 

Name :

BULL MEAT B.V.

 

 

Registered Office :

Noorderkade 36 B, 1948NR Beverwijk

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

23.05.2003

 

 

Com. Reg. No.:

34190789

 

 

Legal Form :

Besloten vennootschap

 

 

Line of Business :

Wholesale of meat and meat products

 

 

No. of Employees :

Not Available

 

 

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                           Bull Meat B.V.

 

Tradename                                  Bull Meat B.V.

 

Address                                      Noorderkade 36 B

1948NR Beverwijk Netherlands

 

Mail address                               Postbus 58

2050AB Overveen Netherlands

Telephone        

0251261780 0251261789

 

Telefax number E-mail address Website

info@bullmeat.com www.bullmeat.com

 

VAT number / RSIN 812059451

 

 

COMPANY INFORMATION

 

Handelsregisternummer

34190789

Registered in

Chamber of commerce Amsterdam

First registration

23-05-2003

Act of foundation

31-03-2003

Date of constitution

31-03-2003

Legal form

Besloten Vennootschap

Place of constitution

Overveen

Issued capital

18.030

 

NACE-code                                 Wholesale of meat and meat products (51322)

SBI-code                                    Wholesale Meat (no poultry, game and poultry) (463202)

Formal objective                         Groothandel in vlees- en vleesprodukten

 

 

COMPANY STRUCTURE

 

Shareholder                                Jan Schimmel Holding B.V.

Tetterodeweg 1

2051EE OVERVEEN

Netherlands

KvK: 34190788

Active since: 22-02-2013

Percentage: 100.00%

 

 

Holding company                        Jan Schimmel Holding B.V.

Tetterodeweg 1

2051EE OVERVEEN KvK: 34190788

 

Bank

ING Bank NV

 

Fortis Bank (Netherlands) NV

 

ABN Amro Bank NV

 

 

MANAGEMENT   

 

Management

Jan Schimmel Holding B.V.

 

Tetterodeweg 1

 

2051EE OVERVEEN

 

Netherlands

 

KvK: 34190788

 

Authorization: Fully authorized

 

Position: Manager

 

Date appointed: 01-03-2004

 

 

FINANCIAL INFORMATION

 

Publication financial statement  

Annual accounts 2011 are published on 28-11-2012

Annual accounts 2010 are published on 21-03-2011

Annual accounts 2009 are published on 07-07-2010

Annual accounts 2008 are published on 04-05-2009

Annual accounts 2007 are published on 08-08-2008

 

Type of publication Corporate

 

Publication Publication according to obligations by law

 

CORE FIGURES

 

 

 

BOOKYEAR

2011

2010

2009

Quick ratio

0,42

0,54

0,51

Current ratio

1,42

1,22

1,19

Nett workingcapital / Balance total

0,28

0,17

0,14

Capital and reserves / Balance total

0,11

0,05

0,04

Capital and reserves / Fixed assets

1,88

0,70

0,32

Solvency

0,12

0,06

0,04

Nett workingcapital

672.671

484.073

304.487

Capital and reserves

263.271

155.133

90.488

Change capital and reserves

69,71%

71,44%

-43,45%

change short term liabilities

-26,13%

34,44%

-52,16%

 

 

Annual accounts Last annual accounts

Last annual accounts 2011

Tendency

Tendency capital and reserves


 

 

Capital and reserves      2011 263.271

Total debt                     20112.159.591

Currecnt ratio                2011 1,42

Quick ration                   2011 0,42

Nett workingcapital        2011 672.671

Profitability                   Positive

Solvency                      Limited

Liquididty                      Satisfactory

 

BALANCE

 

BOOKYEAR

2011

2010

2009

End of bookyear

31-12-2011

31-12-2010

31-12-2009

Tangible assets

53.180

47.865

41.711

Financial assets

87.178

174.869

242.253

Fixed assets

140.358

222.734

283.964

 

Stocks and work in progress

1.604.974

1.494.118

1.101.418

Accounts receivable

672.241

1.169.035

742.724

Liquid assets

5.289

114

81.302

Current assets

2.282.504

2.663.267

1.925.444

Total assets

2.422.862

2.886.001

2.209.408

 

Capital and reserves

263.271

155.133

90.488

Long term liabilities

549.758

551.674

497.963

Total short term debt

1.609.833

2.179.194

1.620.957

Total debt

2.159.591

2.730.868

2.118.920

Total Liabilities

2.422.862

2.886.001

2.209.408

 

 

History

Management     Per 22-02-2013 manager 37107056 Sjoerd Brada Holding B.V. out of office.

 

Company structure

• Jan Schimmel Holding B.V. (34190788) OVERVEEN

o Bull Meat B.V. (34190789) Beverwijk Subsidiary (100%)

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.33

UK Pound

1

Rs.82.55

Euro

1

Rs.70.10

 

 

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.