MIRA INFORM REPORT

 

 

Report Date :

18.12.2014

 

IDENTIFICATION DETAILS

 

Correct Name :

NIGEL-CONGELADORA JOSE NICOLAU LDA

 

 

Registered Office :

Rua Dos Cortiçais, Peniche 2524-909-Peniche, Peniche, Leiria District

 

 

Country :

Portugal

 

 

Financials (as on) :

2013

 

 

Date of Incorporation :

22.01.1974

 

 

Com. Reg. No.:

500202150

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

·         Engaged in Freezing of Fishery Products and Aquaculture

·         Engaged in Freezing and Preservation of Food and Fish Trade

·         Engaged in Wholesale trade of fish and shellfish

 

Subject product ranges includes:

·         Seafood

·         Pre-Cooked Food

·         Vegetables

·         Ready Meals

·         Frozen Fish

 

 

No of Employees :

83 (2013)

 

 

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 :

Slow but Correct

 

 

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, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Portugal

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Portugal ECONOMIC OVERVIEW

 

Portugal has become a diversified and increasingly service-based economy since joining the European Community - the EU's predecessor - in 1986. Over the following two decades, successive governments privatized many state-controlled firms and liberalized key areas of the economy, including the financial and telecommunications sectors. The country qualified for the Economic and Monetary Union (EMU) in 1998 and began circulating the euro on 1 January 2002 along with 11 other EU members. The economy grew by more than the EU average for much of the 1990s, but the rate of growth slowed in 2001-08. The economy contracted in 2009, and fell again from 2011 to 2013, as the government implemented spending cuts and tax increases to comply with conditions of an EU-IMF financial rescue package, signed in May 2011. Austerity measures also have contributed to record unemployment and a wave of emigration not seen since the 1960s. Booming exports will contribute to growth and employment in 2014, but the need to continue to reduce private- and public-sector debt could weigh on consumption and investment. The government of Pedro PASSOS COELHO has stated its intention to reduce labor market rigidity, and, this, along with steps to trim the budget deficit, could make Portugal more attractive to foreign investors. The government reduced the budget deficit from 10.1% of GDP in 2009 to 5.1% in 2013, lower than the EU-IMF fiscal target of 5.5%. Despite these efforts, public debt has continued to grow and, in 2013, stands among the highest in the EU. As a result, the government may have difficulty regaining full bond market financing when the EU-IMF financing program expires in May 2014.

 

Source : CIA

Identification

 

 

Name

NIGEL-CONGELADORA JOSE NICOLAU LDA

V.A.T. Number / NIF

500202150

Address

Rua dos Cortiçais

Locality

Peniche

Postal Code

2524-909-PENICHE

Municipality

PENICHE

District

LEIRIA

Telephone

262790040

Fax

262700041

E-Mail

nigel.peniche@nigel.pt

Web Site

www.nigel.pt  

 

 

C.A.E.(Rev 3)

10202- Freezing of fishery products and aquaculture

C.A.E.(Rev 3)

10201- Preparation of fishery products and aquaculture

C.A.E.(Rev 3)

46381- Wholesale trade of fish and shellfish

 

Actual Condition
In activity

Payments
Slow but Correct

Incidents
There are record of commercial incidents

 

Financial Highlights

 

 

 

2011

 

2012

 

2013

Net Sales

12.712.137,89

10.494.934,55

12.758.189,07

Net Income For the Year

32.839,94

54.745,11

89.646,99

Shareholders Funds

2.910.887,82

4.695.718,44

5.254.038,67

Stocks

3.112.844,26

3.554.066,32

3.682.811,18

LIABILITY

6.852.258,00

6.156.666,08

8.086.220,77

ASSETS

9.763.145,82

10.852.384,52

13.340.259,44

 

Business Concept

 

 

Consulted sources say that the subject has been respecting its payments and commercial commitments, so credit connections with this company are recommended.

 

Summary

 

 

Legal Form

Private Limited Company

Constitution

22-01-1974

V.A.T. Number / NIF

500202150

Employees

83 (2013)

Capital

1.000.000,00

Sales in : 31-12-2013

12.758.189,07

Shareholders Funds in: 31-12-2013

5.254.038,67

Payments

Slow but Correct

Actual Condition

In activity

 

 

Management Bodies

 

 

JOSE AUGUSTO DA SILVA NICOLAU

Managing-Partner

NUNO PAULO FERREIRA NICOLAU

Manager

 

 

Legal Structure

 

 

Registered on the Register Record Office of Peniche with the Register Number 500202150 previous number 176 in 22-01-1974

Constitution celebrated in 22-01-1974 published on Diário da República number 61 of 13-03-1974

To oblige the company it is necessary 1 signatures

 

Changes to Society

 

In 26-11-2013 on Portal MJ of 26-11-2013 update of the Head Office Village

In 29-10-2001 on Diário da República number 301 of 31-12-2001 increase and redenomination of capital Clique para ver detalhes

de 143.750.000$00, para 1.000.000 euros.

 

In 30-03-1995 on Diário da República number 158 of 11-07-1995 increase of capital Clique para ver detalhes

de 100.000.000$00, para 143.750.000$00.

 

In 20-03-1995 on Diário da República number 114 of 17-05-1995 manager change

In 21-12-1988 on Diário da República number 39 of 17-02-1988 increase of capital Clique para ver detalhes

de 15.000.000$00, para 100.000.000$00.

 

 

Capital

 

 

The Capital is 1.000.000,00

 

 

with the following distribution

 

JOSE AUGUSTO DA SILVA NICOLAU

450.000,00

45%

NIS 8-IMOBILIARIA E INVESTIMENTO SA

510.000,00

51%

MARIA DA GLORIA DA SILVA

 

 

 

 

Biographies

 

 

 

Name

JOSE AUGUSTO DA SILVA NICOLAU

Function

Managing-Partner

Address

Rua de Filipa de Vilhena, 9

Locality

Peniche

Birth Date

04-06-1946

Naturality

Conceição - Peniche

Civil State

Married

Consort

Maria Teresa da Silva Ferreia Nicolau

Previous Connections

Foi gerente da firma Nova Cec Lda.

Professional Connections

The subject has connections with the following company (ies)

 

NICOLAU.,JOSE AUGUSTO DA SILVA as Individual Contractor .

 

NIGEL (ALENTEJO)-DISTRIBUICAO DE PRODUTOS ALIMENTARES LDA as Manager .

 

NIGEL(LISBOA)-DISTRIBUICAO DE PRODUTOS ALIMENTARES LDA as Manager .

 

NIGEL (FROTA)-TRANSPORTES RODOVIARIOS LDA as Manager .

 

DISGELO-PRODUCAO E DISTRIBUICAO DE GELO SA as Board of Director's President .

 

NIS 8-IMOBILIARIA E INVESTIMENTO SA as Board of Director's President .

 

NITER-SOCIEDADE CONSTRUCAO E IMOBILIARIA LDA as Managing-Partner with a participation of 375.000,00 , in a capital of 1.630.000,00 .

 

Name

MARIA DA GLORIA DA SILVA

Function

Partner

Address

Rua Dom Luis Ataide, s/n

Locality

Peniche

Birth Date

20-11-1926

Civil State

Widow

 

Name

Dr. NUNO PAULO FERREIRA NICOLAU

Function

Manager

Address

Rua dos Cortiçais, Apartado 22

Locality

Peniche

Professional Connections

The subject has connections with the following company (ies)

 

NANIC-GESTAO IMOBILIARIA LDA as Managing-Partner with a participation of 5.000,00 , in a capital of 10.000,00 .

 

NIGEL (ALENTEJO)-DISTRIBUICAO DE PRODUTOS ALIMENTARES LDA as Manager .

 

NIGEL(LISBOA)-DISTRIBUICAO DE PRODUTOS ALIMENTARES LDA as Manager .

 

NIGEL (FROTA)-TRANSPORTES RODOVIARIOS LDA as Manager .

 

 

Shareholders / Partners Companies

 

 

 

NAME

NIS 8-IMOBILIARIA E INVESTIMENTO SA

Function

Partner

Address

Rua dos Cortiçais

Locality

Peniche

Telephone

935557999

Fax

262790041

E-Mail

sede@nis8.com

C.A.E.

41200- Construction of buildings (residential and non-residential)

 

 

Activities

 

 

Line of Business

Percentage

Freezing and preservation of food and fish trade

100%

Type of Clients

Retailers/Wholesalers

 

 

Sales Conditions

Cash/credit

 

 

 

Product details

 

Subject product ranges includes:

·         Seafood

·         Pre-Cooked Food

·         Vegetables

·         Ready Meals

·         Frozen Fish

 

 

Geographic Distribution of Sales

 

 

 

Internal Market

 

International Market

 

 

Year

 

EU

Extra-EU

Total

 

 

2013

6.730.091,98

52,75%

4.688.758,00

36,75%

1.339.339,09

10,50%

12.758.189,07

 

2012

5.828.641,67

55,54%

3.625.630,61

34,55%

1.040.662,27

9,92%

10.494.934,55

 

2011

6.701.636,71

52,72%

4.790.643,00

37,69%

1.219.858,18

9,60%

12.712.137,89

 

2010

7.972.166,45

58,94%

4.562.210,59

33,73%

991.807,46

7,33%

13.526.184,50

 

 

Geographic Distribution of Purchases

 

 

Internal Market

 

International Market

 

 

Year

 

EU

Extra-EU

Total

 

 

2013

2.719.798,92

30,84%

4.947.672,21

56,10%

1.152.059,73

13,06%

8.819.530,86

 

2012

2.729.908,37

35,88%

3.308.115,49

43,48%

1.570.242,97

20,64%

7.608.266,83

 

2011

3.562.976,25

36,94%

4.671.429,98

48,44%

1.410.080,07

14,62%

9.644.486,30

 

2010

4.075.492,60

41,96%

4.788.391,35

49,30%

849.710,04

8,75%

9.713.593,99

 

Source: IES

 

 

Trade Marks

 

 

Nigel

Gelnic

Nipeixe

 

 

Banks and Financial Institutions

 

 

MILLENNIUM BCP

Peniche

NOVO BANCO, SA

Peniche

NOVO BANCO, SA

Centro de Empresas do Oeste

CAIXA GERAL DE DEPOSITOS, SA

Peniche

 

 

Incidents

 

 

Legal Actions

 

Date

Process

Author

Type

Amount

Judicial District

Court

Situation

28-06-2011

128898/11.3YIPRT

Segurihigiene-Saúde No Trabalho, S.A.

Especial Cump.Obrig. Pecuniarias DL 269/98

3.979,75

Lisboa - Tribunal de Pequena Instância Cível

 

 

 

 

 

Employees

 

Year

Total

Men

Women

 

 

2013

83

35

42%

48

58%

 

2012

77

30

39%

47

61%

 

2011

83

29

35%

54

65%

 

2010

83

33

40%

50

60%

 

Source: IES

Insurance

 

 

Companhia de Seguros Fidelidade Mundial

Tranquilidade Seguros SA

 

Head Office and Installations

 

Head office and installations Rua dos Cortiçais, Peniche, 2524-909, PENICHE, Tel:262790040, Fax:262790041

 

 

Participations

 

 

The subject participates on the following company(ies)

 

NAME

NIGEL(LISBOA)-DISTRIBUICAO DE PRODUTOS ALIMENTARES LDA

Address

Rua dos Cortiçais

Locality

Peniche

Telephone

262789136

Fax

262789136

C.A.E.

46382- Wholesale of other food products n.d

Capital

50.000,00

Participation

50%

 

NAME

NIGEL (ALENTEJO)-DISTRIBUICAO DE PRODUTOS ALIMENTARES LDA

Address

ALTO DE SANTA CRUZ-SAO PEDRO

Locality

Peniche

C.A.E.

46382- Wholesale of other food products n.d

Capital

553.000,00

Participation

95,66%

 

NAME

NIGEL (FROTA)-TRANSPORTES RODOVIARIOS LDA

Address

R DOS CORTICAIS - S. PEDRO

Locality

Peniche

C.A.E.

49410- Road transport of goods

Capital

240.000,00

Participation

83,333%

 

 

Special Information

 

 

Event

General Description

 

Existem duas quotas em comum e sem determinação de partes ou direito, uma no valor de 28.500 euros, e outra no valor de 11.500 euros, pertencentes a Maria da Glória da Silva, e a José Augusto da Silva Nicolau.

Quality Certification

A titular é uma empresa certificada segundo as Normas ISO 9001, ISO 14001, OSHAS 18001 e ISO 22000.

 

 

Financial Demonstration SNC

 

Balance Sheet SNC

CoinEUROS

 

Year:2013

 

 

 

2013

2012

2011

% Var.2013/12

 

ASSET

 

 

 

 

 

 

 

 

Non-current assets

 

 

 

 

 

 

 

 

Tangible fixed assets

3.850.996,75

3.048.651,40

2.202.797,73

26,32%

 

 

Investment properties

-

-

-

-

 

 

Goodwill

-

-

-

-

 

 

Intangible assets

45.561,86

15.754,54

10.727,22

189,20%

 

 

Biological assets

-

-

-

-

 

 

Financial participations - patrimonial equity method

926.459,51

466.726,87

454.990,49

98,50%

 

 

Financial participations - other methods

-

-

-

-

 

 

Shareholders/partners

1.150.000,00

-

-

-

 

 

Other financial assets

-

-

-

-

 

 

Deferred tax assets

-

-

-

-

 

 

Financial investments(exclusive use by small entities and micro entities)

-

-

-

-

 

 

Total

5.973.018,12

3.531.132,81

2.668.515,44

69,15%

 

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

Inventories

3.682.811,18

3.554.066,32

3.112.844,26

3,62%

 

 

Biological assets

-

-

-

-

 

 

Costumers

2.603.469,53

2.333.057,95

2.514.952,23

11,59%

 

 

Advances to suppliers

-

-

-

-

 

 

State and other public entities

213.234,79

283.654,18

147.262,26

(24,83)%

 

 

Shareholders/partners

-

-

-

-

 

 

Other accounts receivable

640.273,38

10.333,95

42.143,52

6.095,82%

 

 

Deferrals

34.636,26

46.291,30

32.153,31

(25,18)%

 

 

Financial assets held for trading

-

-

-

-

 

 

Other financial assets

-

10.000,00

10.000,00

-

 

 

Non-current assets held for sale

-

-

-

-

 

 

Other current assets

-

-

-

-

 

 

Cashier and bank deposits

192.816,18

1.083.848,01

1.235.274,80

(82,21)%

 

 

Total

7.367.241,32

7.321.251,71

7.094.630,38

0,63%

 

 

 

 

 

 

 

 

 

TOTAL ASSET

13.340.259,44

10.852.384,52

9.763.145,82

22,92%

 

 

 

 

 

 

 

 

 

SHAREHOLDERS FUNDS AND LIABILITIES

 

 

 

 

 

 

 

 

SHAREHOLDERS FUNDS

 

 

 

 

 

 

 

 

Capital

1.000.000,00

1.000.000,00

1.000.000,00

-

 

 

Own shares

-

-

-

-

 

 

Other shareholders funds instruments

1.501.322,31

1.501.322,31

1.322,31

-

 

 

Emission premiuns

654.672,24

654.672,24

654.672,24

-

 

 

Legal reserves

131.648,19

128.910,93

127.268,93

2,12%

 

 

Other reserves

1.939.988,55

1.939.988,55

1.939.988,55

-

 

 

Net retained

(466.418,19)

(529.523,21)

(581.144,53)

(11,92)%

 

 

Adjustments on financial assets

(525.777,31)

(569.799,92)

(569.799,92)

(7,73)%

 

 

Revaluation surplus

1.093,67

12.190,84

46.585,48

(91,03)%

 

 

Other shareholders funds changes

927.862,22

503.211,59

259.154,82

84,39%

 

 

Total

5.164.391,68

4.640.973,33

2.878.047,88

11,28%

 

 

 

 

 

 

 

 

 

Net income for the period

89.646,99

54.745,11

32.839,94

63,75%

 

 

Antecipated dividends

-

-

-

-

 

 

TOTAL OF SHAREHOLDERS FUNDS

5.254.038,67

4.695.718,44

2.910.887,82

11,89%

 

 

 

 

 

 

 

 

 

LIABILITY

 

 

 

 

 

 

 

 

Non-current liiabilities

 

 

 

 

 

 

 

 

Provisions

-

-

-

-

 

 

Financing obtained

2.329.161,90

2.292.422,74

2.374.288,31

1,60%

 

 

Responsability for post-employment beneficts

-

-

-

-

 

 

Diferred taxes liabilities

5.610,19

167.737,23

86.384,95

(96,66)%

 

 

Other payable accounts

-

-

-

-

 

 

Total

2.334.772,09

2.460.159,97

2.460.673,26

(5,10)%

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

Suppliers

2.072.745,52

955.200,94

1.644.158,36

117,00%

 

 

Advances from costumers

-

-

-

-

 

 

State and other public entities

29.267,11

25.961,79

25.548,39

12,73%

 

 

Shareholders/partners

-

-

-

-

 

 

Financing obtained

2.705.714,75

1.698.173,36

1.893.433,75

59,33%

 

 

Other payable accounts

943.721,30

1.017.170,02

828.444,24

(7,22)%

 

 

Deferrals

-

-

-

-

 

 

Financial liabilities held for trading

-

-

-

-

 

 

Other financial liabilities

-

-

-

-

 

 

Non-current liabilities held for sale

-

-

-

-

 

 

Other current liabilities

-

-

-

-

 

 

Total

5.751.448,68

3.696.506,11

4.391.584,74

55,59%

 

 

 

 

 

 

 

 

 

TOTAL LIABILITIES

8.086.220,77

6.156.666,08

6.852.258,00

31,34%

 

 

 

 

 

 

 

 

 

TOTAL SHAREHOLDERS FUNDS AND LIABILITIES

13.340.259,44

10.852.384,52

9.763.145,82

22,92%

 

 

 

 

 

 

 

 

 

INCOME STATEMENT

 

 

 

 

 

 

 

 

INCOME AND EXPENSES

 

 

 

 

 

 

 

 

Sales and services

12.758.189,07

10.494.934,55

12.712.137,89

21,57%

 

 

Operating government grants

-

-

12.588,42

-

 

 

Gains/losses allocated subsidiaries, associates and joint ventures

28.662,03

98.561,93

(30.570,59)

(70,92)%

 

 

Variation in production inventories

(114.949,66)

620.207,99

(246.608,07)

(118,53)%

 

 

Work for the entity itself

-

-

-

-

 

 

Cost of goods sold and materials consumed

8.575.836,34

7.787.252,76

9.064.960,97

10,13%

 

 

Suppliers and external services

2.165.246,30

1.771.915,18

1.782.742,85

22,20%

 

 

Personnel costs

1.160.494,05

1.123.611,17

1.189.798,45

3,28%

 

 

Impairment of inventories (losses/revearsals)

-

-

-

-

 

 

Impairment of receivables (losses/revearsals)

100.224,97

10.097,97

10.978,42

892,53%

 

 

Provisions (increases/reductions)

-

-

-

-

 

 

Impairment of investments not depreciable/amortizable (losses/reversals)

-

-

6,84

-

 

 

Other impairments (losses/reversals)/impairments (losses/reversals) (exclusive use by small entities and microentities)

-

-

-

-

 

 

Increases/decreases in fair value

-

-

-

-

 

 

Other income and gains

76.605,20

147.704,95

134.296,88

(48,14)%

 

 

Other expenses and losses

161.891,05

114.423,12

83.000,64

41,48%

 

 

Result before depreciation, financing costs and taxes

584.813,93

554.109,22

450.356,36

5,54%

 

 

 

 

 

 

 

 

 

Expenses/reversals of depreciation and amortization

289.257,65

258.250,55

254.394,29

12,01%

 

 

Impairment of investments depreciable/amortizable (losses/reversals)

-

-

-

-

 

 

Operating result (before financing costs and taxes)

295.556,28

295.858,67

195.962,07

(0,10)%

 

 

 

 

 

 

 

 

 

Interest and similar income obtained

-

-

-

-

 

 

interest and similar expenses incurred

187.841,72

244.527,16

158.810,75

(23,18)%

 

 

Net before taxes

107.714,56

51.331,51

37.151,32

109,84%

 

 

 

 

 

 

 

 

 

Income tax of the period

18.067,57

(3.413,60)

4.311,38

(629,28)%

 

 

Net profit for the period

89.646,99

54.745,11

32.839,94

63,75%

 

 

 

 

 

 

 

 

 

Results of discontinued operations (net of taxes) included in the net income of the period

-

-

-

-

 

 

 

 

RATIOS SNC

 

 

 

Closing Date

2013

2012

2011

 

 

 

 

TURNOVER RATIOS

 

Shareholder's Funds Profitability

0,017

0,012

0,011

 

 

 

Assets Profitability

0,022

0,027

0,02

 

 

 

Sales Net Profitability

0,007

0,005

0,003

 

 

 

 

 

EFFICIENCY RATIOS

 

Medium Term Receivable

74,483

81,141

72,211

 

 

 

Asset Rotation

0,956

0,967

1,302

 

 

 

 

 

PRODUCTIVITY RATIOS

 

Productivity

3,604

2,41

3,065

 

 

 

 

 

SHORT TERM RATIOS

 

General Liquidity

1,281

1,981

1,616

 

 

 

Reduced Liquidity

0,641

1,019

0,907

 

 

 

Immediate Liquidity

0,034

0,293

0,281

 

 

 

 

 

MEDIUM LONG TERM RATIOS

 

Financial Autonomy

0,394

0,433

0,298

 

 

 

Solvability

0,65

0,763

0,425

 

 

 

Borrowed Capital Structure

0,711

0,6

0,641

 

 

 

General Debt

0,958

0,85

1,466

 

 

 

Medium Long Term Debt

0,443

0,488

0,816

 

 

 

Debt Structure

0,711

0,6

0,641

 

 

 

Capital Structure

2,25

1,909

1,183

 

 

 

 

 

Operational and Financial Risk

 

Operational Leverage Level

14,151

9,152

18,612

 

 

 

Financial Leverage Level

2,744

5,764

5,275

 

 

 

Combined Leverage Level

38,83

52,752

98,178

 

 

 

 

 

CASH FLOW STATEMENT

 

 

Rubrics

2013

2012

PERIODS

 

CASH FLOWS FROM OPERATIONAL ACTIVITIES

 

 

 

Customers receipts

13.059.323,00

10.666.730,86

22,43%

Payments to suppliers

10.983.078,43

10.689.347,42

2,75%

Payments to employees

1.167.697,45

1.123.611,17

3,92%

Cash at bank generated from operations

908.547,12

(1.146.227,73)

179,26%

Payment/receipt of income tax

(18.067,57)

3.413,60

(629,28)%

Other receipts/payments

(1.166.029,53)

861.327,04

(235,38)%

Cash Flows from Operational Activities (A)

(275.549,98)

(281.487,09)

2,11%

CASH FLOWS' INVESTMENT ACTIVITIES

 

 

 

Payments regarding:

 

 

 

Fixed tangible assets

1.483.381,77

1.099.096,50

34,96%

Intangible assets

40.516,20

8.160,00

396,52%

Financial investments

459.732,64

11.736,38

3.817,16%

Other assets

-

-

-

Receipts from:

 

 

 

Fixed tangible assets

28.200,00

-

-

Intangible assets

-

-

-

Financial investments

-

-

-

Other assets

-

-

-

Investment subsidies

-

-

-

Interest and similar income

794,44

25.999,87

(96,94)%

Dividends

2.952,00

4.326,00

(31,76)%

Cash Flows' Investments Activities (B)

(1.951.684,17)

(1.088.667,01)

(79,27)%

CASH FLOWS' INVESTMENT ACTIVITIES

 

 

 

Receipts from:

 

 

 

Obtained financing

-

-

-

Paying-up of capital and other equity instruments

1.044.280,55

1.500.000,00

(30,38)%

Coverage of losses

63.105,02

51.621,32

22,25%

Donations

-

-

-

Other financing operations

458.673,24

244.056,77

87,94%

Payments regarding:

 

 

 

Obtained financing

-

277.125,96

-

Interests and similar expenses

135.688,03

183.116,25

(25,90)%

Dividends

-

-

-

Capital's redution and other equity instruments

52.007,85

31.197,94

66,70%

Other financing operations

52.160,61

85.510,63

(39,00)%

Cash Flows' Financing Activities ©

1.326.202,32

1.218.727,31

8,82%

Variation in cash at bank and its equivalents (A+B+C)

(901.031,83)

(151.426,79)

(495,03)%

Effect of exchange differences

-

-

-

Cash at bank and its equivalents at the start of period

1.093.848,01

1.245.274,80

(12,16)%

Cash at bank and its equivalents at the end of period

192.816,18

1.093.848,01

(82,37)%

 

CASH FLOWS

 

 

Movimentos do Periodo de 2013

Rubrics

Initial balance

Debits

Credits

Final balance

 

PERIOD'S CARRYING AMOUNT AND MOVEMENTS

 

Cash in hand

9.117,71

59.312,43

59.158,37

9.271,77

Order deposits

74.730,30

38.129.707,14

38.020.893,03

183.544,41

Other bank deposits

1.000.000,00

0,00

1.000.000,00

0,00

Total cash at bank and bank deposits

1.083.848,01

38.189.019,57

39.080.051,40

192.816,18

Of which: Bank deposits abroad

-

-

-

0,00

 

Rubrics

Value

 

 

OTHER INFORMATION

 

 

Receipts from:

 

Non-life insurance claims

-

Operating subsidies

-

Cash at bank and its equivalents not available for use

-

 

 

ASSETS IMPAIRMENT

 

 

 

Movimentos do Periodo de 2013

 

Impairment losses

Impairment losses reversals

Rubrics

Recognized in profit and loss

Recognized in Equity

Total

Recognized in profit and loss

On revalued assets recognized in equity

Total

 

Individual assets

 

Fixed tangible assets

0,00

-

-

0,00

-

-

Goodwill

0,00

0,00

-

-

0,00

0,00

Intangible assets

0,00

-

-

0,00

-

-

Investment properties (cost model)

0,00

0,00

-

0,00

0,00

-

Investments in progress

0,00

0,00

-

0,00

0,00

-

Financial investments

0,00

0,00

-

0,00

0,00

-

TOTAL

 

 

 

 

 

 

of which: cash-generating units

0,00

0,00

-

0,00

0,00

-

 

 

GOVERNMENT GRANTS AND GOVERNMENT ASSISTANCE

 

 

 

Grants from State and other public bodies

Grants from other entities

Rubrics

Value assigned in the period or in previous periods

Value attributed to the period

Value assigned in the period or in previous periods

Value attributed to the period

 

Grants related to assets/investment:

0,00

0,00

0,00

0,00

Fixed tangible assets

0,00

0,00

0,00

0,00

Land and Natural Resources

-

-

-

-

Buildings and other structures

-

-

-

-

Basic equipment

-

-

-

-

Transport equipment

-

-

-

-

Office equipment

-

-

-

-

Biological equipment

-

-

-

-

Others

-

-

-

-

Intangible assets

0,00

0,00

0,00

0,00

Development projects

-

-

-

-

Computer programmes

-

-

-

-

Industrial property

-

-

-

-

Others

-

-

-

-

Other assets

-

-

-

-

Grants related to income / operating

-

-

-

-

Value of repayments in the period:

0,00

0,00

0,00

0,00

Grants related to assets/investment

-

-

-

-

Grants related to income / operating

-

-

-

-

TOTAL

0,00

0,00

0,00

0,00

 

 

IMPAIRMENT LOSSES IN FINANCIAL ASSETS AT COST OR AT AMORTIZED COST

 

 

 

Movimentos do Periodo de 2013

Rubrics

Impairment losses

Impairment losses reversals

Total

 

Receivable debts from customers

100.959,95

734,98

100.224,97

Other receivables

-

-

0,00

Equity instruments and other securities

-

-

0,00

Others

-

-

0,00

TOTAL

100.959,95

734,98

100.224,97

 

 

DEBTS REGISTERED AS DOUBTFUL

 

 

Rubrics

Value

 

Regarding insolvency and company recovery procedures or enforcement procedures

-

Claimed in court

-

In arrears:

0,00

Over six months and up to twelve months

-

Over twelve months and up to eighteen months

-

Over eighteen months and up to twenty four months

-

Over twenty four months

-

TOTAL

0,00

 

 

EMPLOYEE BENEFITS, COMPANY EMPLOYEES AND PERSONNEL COSTS

 

 

 

Rubrics

Average number of employees

Average number of hours worked

 

Company employees, paid and unpaid

83

145.041

Paid company employees

83

145.041

Company UNPAID employees

0

0

Company employees, by type of working hours

 

 

Full time company employees

83

145.041

Of which: Full time company employees

83

145.041

Part time company employees

0

0

Of which: Part time company employees

0

0

Company employees, by gender:

 

 

Men

35

61.161

Women

48

83.880

Company employees, of which:

 

 

Company employees assigned to Research and Development

0

-

Service providers

0

0

People placed through temporary employment agencies

0

-

 

Staff costs

 

 

Rubrics

Value

 

Staff costs

1.160.494,05

Governance Bodies Remuneration

-

Of which: Profit-sharing

-

Employees remuneration

935.293,40

Of which: Profit-sharing

-

Post-employment benefits

0,00

Pension premiums

-

Other benefits

-

Of which:

 

For defined contribution plans - corporate bodies

-

For defined contribution plans - others

-

Compensations

-

Charges on remunerations

211.677,20

Insurance for accidents at work and professional diseases

8.292,65

Social security expenses

1.678,76

Other staff costs

3.552,04

Of which:

 

Expenditure on education

191,26

Expenditure on uniforms

-

 

 

INFORMATION BY GEOGRAPHIC MARKETS

 

 

 

Geographic markets

Rubrics

Internal

EU

Extra-EU

Total

 

Sales

6.660.599,14

4.686.347,00

1.339.339,09

12.686.285,23

Services provided

69.492,84

2.411,00

0,00

71.903,84

Purchases

2.719.798,92

4.947.672,21

1.152.059,73

8.819.530,86

Supplies and external services

2.121.392,60

43.853,70

-

2.165.246,30

Acquisition of fixed tangible assets

1.100.465,35

20.047,73

-

1.120.513,08

Acquisition of investment properties

-

-

-

0,00

Acquisition of intangible assets

32.940,00

-

-

32.940,00

Supplementary income:

140,00

0,00

0,00

140,00

Social services

-

-

-

0,00

Equipment rental

-

-

-

0,00

Studies, projects and technological assistance

-

-

-

0,00

Royalities

-

-

-

0,00

Others

140,00

-

-

140,00

Memorandum: Sales and services provided (undiscounted values)

-

-

-

0,00

Memorandum: Purchases and supplies and external services (undiscounted values)

-

-

-

0,00

 

 

RECEIVABLE AND PAYABLE ACCOUNTS

 

 

Rubrics

2013

2012

PERIODS

 

Customers

 

 

Trade accounts receivable

2.717.686,64

2.354.134,34

15,44%

Trade notes receivable

0,00

-

-

Advances received from customers

-

-

-

Suppliers

 

 

 

Trade accounts payable

2.072.745,52

955.200,94

117,00%

Trade notes payable

-

-

-

Trade accounts payable - unchecked invoices

-

-

-

Advances to suppliers

-

-

-

Staff

 

 

 

Payable remunerations

-

-

-

Advanced payments

3.130,55

-

-

Bonds

0,00

-

-

Other operations

-

10.333,95

-

State and other public sector institutions

 

 

 

Income Tax

-

-

-

Deductible IVA (debt cumulative amounts)

1.399.822,84

1.165.287,82

20,13%

Paid IVA (credit cumulative amounts)

1.132.660,05

862.617,44

31,31%

Shareholders / partners

 

 

 

Shareholders with subscription

-

-

-

Unreleased quotas

-

-

-

Advances for profits

-

-

-

Allocated results

 

 

 

From the perspective of the entity distributing profits

-

-

-

From the perspective of the entity with allocated profits

-

-

-

Available profits

 

 

 

From the perspective of the entity distributing profits

-

-

-

From the perspective of the entity with allocated profits

-

-

-

Granted loans - parent company

-

-

-

Granted loans - subsidiary companies, associated companies and joint ventures

-

-

-

Granted loans - other shareholders/partners

1.150.000,00

-

-

Of which: Participating companies

1.150.000,00

-

-

Other operations

 

 

 

Debit status

-

-

-

Credit status

-

-

-

Other receivable and payable accounts

 

 

 

Investment providers - general accounts

58.363,71

199.585,48

(70,76)%

Trade accounts payable - unchecked invoices

0,00

-

-

Advanced payments to investment providers

-

-

-

additional income - Debtors

637.142,83

-

-

additional expenses - Creditors

156.418,95

147.744,75

5,87%

Deferred tax assets

-

-

-

Deferred tax liabilities

5.610,19

167.737,23

(96,66)%

Unreleased subscriptions - Creditors

0,00

-

-

Advances received on account of sales

-

-

-

Other debtors and creditors

 

 

 

Other debtors

-

-

-

Other creditors

728.938,64

669.839,79

8,82%

 

 

EXPENSE ACCOUNTS

 

 

Rubrics

2013

2012

PERIODS

 

Supplies and external services

2.165.246,30

1.771.915,18

22,20%

Subcontracts

560.642,80

486.799,01

15,17%

Specialized services

502.005,21

295.696,97

69,77%

Specialized works

46.865,36

88.452,67

(47,02)%

Of which: Payments to workers placed through agencies

-

-

-

Advertising and promotion

303.757,09

32.536,44

833,59%

Surveillance and security

471,81

416,29

13,34%

Fees

22.381,72

24.223,19

(7,60)%

Comissions

22.444,73

19.983,46

12,32%

Maintenance and repairs

106.084,50

130.084,92

(18,45)%

Others

-

-

-

Materials

23.229,87

28.984,66

(19,85)%

Fast wear tools and utensils

5.924,98

7.982,55

(25,78)%

Books and technical documentation

30,00

243,39

(87,67)%

Office material

15.345,65

18.125,34

(15,34)%

Gift items

1.929,24

2.633,38

(26,74)%

Others

-

-

-

Energy and fluids

330.429,95

341.591,60

(3,27)%

Electricity

226.476,31

198.135,34

14,30%

Fuels

55.018,86

98.542,47

(44,17)%

Water

45.955,00

38.923,90

18,06%

Others

2.979,78

5.989,89

(50,25)%

Travel, lodging and transportation

411.838,68

300.926,75

36,86%

Travel and lodging

11.865,42

24.410,64

(51,39)%

Transport of personnel

188,68

188,68

0,00%

Transport of goods

399.784,58

276.327,43

44,68%

Others

-

-

-

Different services

337.099,79

317.916,19

6,03%

Rents and leases

8.081,57

12.690,93

(36,32)%

Of which: Rents from land

-

-

-

Communication

20.003,84

26.545,32

(24,64)%

Insurance

66.308,60

67.351,43

(1,55)%

Royalties

-

-

-

Litigation and Notaries

2.571,90

130,70

1.867,79%

Representation expenses

2.370,22

2.836,26

(16,43)%

Cleaning, hygiene and comfort

20.144,50

14.977,17

34,50%

Other services

217.619,16

193.384,38

12,53%

 

Deliberation of Approval of Accounts

 

Were the financial year's accounts approved?

 

YES

 

Data da Aprovação: 10-03-2014

 

By (Unanimity/Majority):

 

Unanimity

 

Percentage of issued votes related to the share capital subscribed with voting right

 

100

 

The accounts were approved:

 

In general meeting regularly convoked

 

The accounts were approved:

 

In POC/SNC/NCM (National Plan of Accounts/Accounting Normalization System/Accounting Normalization for micro entities)

 

 

 

PROFIT APLICATION ACCORDING TO THE DELIBERATION THAT APPROVED THE FINANCIAL YEAR'S ACCOUNTS

 

 

Rubrics

2013

2012

 

Retained earnings

(376.771,20)

(474.778,10)

Allocated results / Available profits

-

-

Percentages or bonuses to managing bodies

-

-

Ditto to staff

-

-

Reserves

-

-

Coverage of losses

-

-

7. Others

-

-

BALANCE (1-2-3-4-5-6-7)

(376.771,20)

(474.778,10)

 

Management Report / Assessment of the Inspection Body / Legal Certification of Accounts

 

MANAGEMENT REPORT

Were the Management Report and financial year's accounts prepared?

YES

 

Were the management report and the financial year's accounts signed by all members of the management / administration?

YES

 

ASSESSMENT OF THE INSPECTION BODY

The entity has an inspection body?

NO

 

Has the inspection body issued an assessment?

Information Available

 

The inspection body pronounced:

Information Available

 

LEGAL CERTIFICATION OF ACCOUNTS (CLC)

Is the entity required to have certified accounts by a Statutory Auditor/Statutory Audit Firm?

YES

 

Identificação do ROC: 114010153

 

Was the Legal certification of accounts issued?

YES

 

Without reservation and without emphasis

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.58

UK Pound

1

Rs.99.98

Euro

1

Rs.79.39

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

MNL

 

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.