MIRA INFORM REPORT

 

 

Report Date :

26.12.2014

 

IDENTIFICATION DETAILS

 

Name :

IM SERVICES & SUPPORT B.V.

 

 

Registered Office :

Molenwerf 36a 1911DB Uitgeest

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

06.07.1995

 

 

Com. Reg. No.:

34092336

 

 

Legal Form :

Private Company

 

 

Line of Business :

Repair and maintenance of machinery for general use and machine parts

 

 

No. of Employees :

09

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Slow

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)

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

 

Netherlands is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, sizable trade surplus, and 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. Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The Dutch financial sector suffered as a result of the global financial crisis, due in part to the high exposure of some Dutch banks to US 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. 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. To recover, the government 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 austerity measures in early 2011, mainly reducting expenditures, which resulted in an improved budget deficit in 2011. However, in 2012 tax revenues dropped, GDP contracted, and the budget deficit deteriorated. In 2013, the government budget deficit decreased to 3.3% of GDP due to increased government revenue from higher taxes. However, spending on social benefits also increased, due to a rise in unemployment benefits and payments for pensions. The high unemployment rate and tax increases have contributed to continued decreases in household disposable income, causing the Dutch economy to contract

 

Source : CIA

Company name and address

 

Company name

IM SERVICES & SUPPORT B.V.

Operative address

Molenwerf 36a 1911DB UITGEEST Netherlands

 

Legal form

Private Company

Registration number

KvK-nummer: 34092336

VAT-number

804204561

 

 

Year

2013

 

Mutation

2012

 

Mutation

2011

Fixed assets

60.365

 

2,88

58.678

 

-11,57

66.355

Total receivables

227.385

4

-34,18

345.469

t

65,45

208.810

 

Total equity

-774.978

 

-41,19

-548.905

 

-460,93

-97.857

Short term liabilities

166.238

■►'

-0,87

167.694

 

-56,70

387.284

 

Working capital

439.712

%

-18,94

542.445

t

532,31

85.788

Quick ratio

1,37

4

-33,50

2,06

t

281,48

0,54

 

 

Contact information

 

Company name            IM Services & Support B.V.

Trade names                IM Services & Support B.V.

Operative address        Molenwerf 36a

1911DB UITGEEST

Netherlands

 

Correspondence address         Molenwerf 36a

1911DB UITGEEST

Netherlands

Telephone number                   0251 317617

Fax number                              0251 314543

Email address                          info@im-2s.com

Website                                    www.technobis.nl

 

 

Registration

 

Registration number    KvK-nummer: 34092336

Registered in                Kamer van Koophandel Amsterdam

Branch number            000018337570

VAT-number                 804204561

Status                          Active

 

First registration company register      1995-07-10

Memorandum                                       1995-07-06

Establishment date                              1995-07-06

Legal form                                           Private Company

Last proposed admendment                 2010-09-08

Subscribed share capital                      EUR 90.000

Issued placed capital                           EUR 18.000

Paid up share capital                           EUR 18.000

 

 

Activities

SBI                   Repair and maintenance of machinery for general use and machine parts (no tools) (33121)

Exporter           No

Importer           No

Goal                 Het initiĂ«ren en uitvoeren van industriĂ«le onderhoudsprogramma's ten behoeve van

productiviteitsoptimalisaties van apparatuur in de industriële sectoren food- en

procesindustrie, printing en packaging

 

Relations

 

Active management

 

Shareholders Xhit International B.V.

Westerwerf 7b

1911JA UITGEEST

Netherlands

Registration number: 170766550000

Percentage: 100%

 

IM3S B.V.

Westerwerf 7b

1911JA Uitgeest

Netherlands

Registration number: 509441420000

Percentage: 100%

Management

Xhit International B.V.

Westerwerf 7b

1911JA UITGEEST

Netherlands

Registration number: 170766550000

Competence: Fully authorized

Function: Manager

Starting date: 2010-09-08

 

C.P. Heijwegen (Cornelis Petrus)

Netherlands

Competence: Fully authorized

Function: Manager

Starting date: 1995-07-06

Date of birth: 1946-01-02, Helmond, NL

Involved with the following companies

 

Hittech Multin B.V.

Oostsingel 209

2612HL Delft

Netherlands

Registration number: 272297420000

Function: Manager

 

• IM3S B.V.

Westerwerf 7b

1911JA Uitgeest

Netherlands

Registration number: 509441420000

Function: Manager

 

 

B.M.C. Wentink (Bernardus Marinus Carolus)

Netherlands

Competence: Fully authorized

Function: Manager

Starting date: 2010-09-08

Date of birth: 1943-11-23, Haarlem, NL

Involved with the following companies

 

• IM3S B.V.

Westerwerf 7b

1911JA Uitgeest

Netherlands

Registration number: 509441420000

Function: Manager

 

• Verum B.V.

Nijverheidsweg 9

1851NW Heiloo

Netherlands

Registration number: 370330050000

Function: Commissaris

 

 

Employees

Year     2013     2012     2011    2010     2009

Total     9         10         10         1          1

 

 

 

Payments

 

Description Payments are made regularly no complaints are known

 

 

Key figures

 

Year

2013

2012

2011

2010

2009

Quick ratio

1,37

2,06

0,54

1,84

 

Current ratio

3,65

4,23

1,22

1,84

 

 

Working capital/ balance total

0,66

0,71

0,16

0,35

1,00

Equity / balance total

-1,16

-0,71

-0,18

-0,44

1,00

Equity / Fixed assets

-12,84

-9,35

-1,47

-1,91

 

Equity / liabilities

-0,54

-0,42

-0,15

-0,30

 

Balance total / liabilities

0,46

0,58

0,85

0,70

 

 

Working capital

439.712

542.445

85.788

86.143

204.275

Equity

-774.978

-548.905

-97.857

-107.571

204.275

Mutation equity

-41,19

-460,93

9,03

-152,66

 

Mutation short term liabilities

-0,87

-56,70

276,94

 

 

 

 

Summary

 

The 2013 financial result structure is a postive working captial of 439.712 euro, which is in

agreement with 66 % of the total assets of the company.

The working capital has diminished with -18.94 % compared to previous year. The ratio, with

respect to the total assets of the company has however, declined.

The deterioration between 2012 and 2013 has mainly been caused by an increase of the

current liabilities.

 

The current ratio of the company in 2013 was 3.65. If the current ratio exeeds 3.0, the

company may not be using its current assets or its short-term financing facilities efficiently .

The quick ratio in 2013 of the company was 1.37. A company with a Quick Ratio of more than

1 can currently pay back its current liabilities.

 

The 2012 financial result structure is a postive working captial of 542.445 euro, which is in

agreement with 71 % of the total assets of the company.

The working capital has increased with 532.31 % compared to previous year. The ratio, with

respect to the total assets of the company has however, increased.

The improvement between 2011 and 2012 has mainly been caused by an increase of the

current assets.

The current ratio of the company in 2012 was 4.23. If the current ratio exeeds 3.0, the

company may not be using its current assets or its short-term financing facilities efficiently .

The quick ratio in 2012 of the company was 2.06. A company with a Quick Ratio of more than

1 can currently pay back its current liabilities.

 

 

 

Financial statement

 

Last annual account       2013

Remark annual account The company is obliged to file its financial statements.

Type of annual account             Corporate

Annual account             t IM Services & Support B.V.

Molenwerf 36a

1911DB UITGEEST

Netherlands

Registration number:     340923360000

 

 

Balance

 

Year

2013

2012

2011

2010

2009

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

2009-12-31

Other tangible fixed assets

 

 

 

56.286

 

Tangible fixed assets

60.365

58.678

66.355

56.286

 

Year

2013

2012

2011

2010

2009

 

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

2009-12-31

 

Fixed assets

60.365

58.678

66.355

56.286

 

 

 

 

Total stock

378.212

364.323

264.196

 

 

Other receivables

 

 

 

188.888

204.275

 

Total receivables

227.385

345.469

208.810

188.888

204.275

 

Liquid funds

353

347

66

 

 

 

accruals

 

 

 

188.888

204.275

 

Current assets

605.950

710.139

473.072

188.888

204.275

 

Total assets

666.315

768.817

539.427

245.174

204.275

 

 

 

Issued capital

18.000

18.000

18.000

 

18.000

 

Legal and statutory reserve

 

 

 

 

186.275

 

Other reserves

-792.978

-566.905

-115.857

-107.571

 

 

Total reserves

-792.978

-566.905

-115.857

-107.571

186.275

 

Total equity

-774.978

-548.905

-97.857

-107.571

204.275

 

 

 

Provisions

55

28

 

 

 

 

Long term interest yielding debt

1.275.000

1.150.000

250.000

250.000

 

 

Long term liabilities

1.275.000

1.150.000

250.000

250.000

 

 

Short term liabilities

166.238

167.694

387.284

102.745

 

 

Total short and long term liabilities

1.441.293

1.317.722

637.284

352.745

 

 

Total liabilities

666.315

768.817

539.427

245.174

204.275

 

 

 

Summary

 

The total assets of the company decreased with -13.33 % between 2012 and 2013.

Despite the total assets decrease, non current assets grew with 2.88 %.

The asset reduction results in an equity decrease of -41.19 %. Despite the decrease, the

indebtness increased with 9.38 %.

In 2013 the assets of the company were 9.06 % composed of fixed assets and 90.94 % by

current assets. The assets are being financed by an equity of -116.31 %, and total debt of

216.31 %.

 

The total assets of the company increased with 42.52 % between 2011 and 2012.

Despite the assets growth, the non current assets decreased with -11.57 %.

Asset growth is in contrasts with the net worth decline of -460.93 %. The company's

indebtedness has, therefore, increased with 106.77 %.

In 2012 the assets of the company were 7.63 % composed of fixed assets and 92.37 % by

current assets. The assets are being financed by an equity of -71.4 %, and total debt of 171.4

%.

 

 

 

 

 

Analysis

 

Branch (SBI)      Repair and installation of machinery and equipment (33)

Region              Kennemerland

In the Netherlands 5864 of the companies are registered with the SBI code 33

In the region Kennemerland 108 of the companies are registered with the SBI code 33

In the Netherlands 72 of the bankrupcties are published within this sector

In the region Kennemerland 1 of the bankruptcies are published within this sector

The risk of this specific sector in the Netherlands is normal

The risk of this specific sector in the region Kennemerland is normal

 

 

Publications

 

Filings 11-09-2014:        De jaarrekening over 2013 is gepubliceerd.

26-09-2013: De jaarrekening over 2012 is gepubliceerd.

21-11-2012: De jaarrekening over 2011 is gepubliceerd.

04-10-2011: De jaarrekening over 2010 is gepubliceerd.

14-02-2011: De jaarrekening over 2009 is gepubliceerd.

20-04-2010: De jaarrekening over 2008 is gepubliceerd.

Other 15-04-2011: Datum deponering: 08-04-2011 Soort deponering: Accountantsverklaring -

waarde goederen minimaal waarde tegenprestatie (nachgrundung) (art. 94c lid 6 BW2 of

204c lid 5 BW2).

 

 

Company structure

 

Xhit B.V.

Westerwerf 7b

1911JA UITGEEST

Netherlands

Registration number: 342138360000

 

• Xhit International B.V.

Westerwerf 7b

1911JA UITGEEST

Netherlands

Registration number: 170766550000

 

• IM3S B.V.

Westerwerf 7b

1911JA Uitgeest

Netherlands

Registration number: 509441420000

 

• IM Services & Support B.V.

Molenwerf 36a

1911DB UITGEEST

Registration number: 340923360000

Netherlands

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.45

UK Pound

1

Rs.98.88

Euro

1

Rs.77.62

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIS

 

               

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.