MIRA INFORM REPORT

Report Date :

20.02.2014

IDENTIFICATION DETAILS

Name :	DULON
Registered Office :	Grand Jean, 33760 Soulignac
Country :	France
Financials (as on) :	31.12.2011
Date of Incorporation :	December 1992
Com. Reg. No.:	RCS Bordeaux 9 389 370 768
Legal Form :	Limited Liability Company
Line of Business :	Engaged in buying and selling real estate
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

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 – december 01, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
France	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

france ECONOMIC OVERVIEW

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 79 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that reduce income disparity and the impact of free markets on public health and welfare. France's real GDP contracted 2.6% in 2009, but recovered somewhat in 2010 and 2011, before stagnating in 2012. The unemployment rate increased from 7.4% in 2008 to 10.3% in 2012. Youth unemployment shot up to 24.2% during the third quarter of 2012 in metropolitan France. Lower-than-expected growth and high unemployment costs have strained France's public finances. The budget deficit rose sharply from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.5% of GDP in 2012, while France's public debt rose from 68% of GDP to 89% over the same period. Under President SARKOZY, Paris implemented some austerity measures to bring the budget deficit under the 3% euro-zone ceiling by 2013 and to highlight France's commitment to fiscal discipline at a time of intense financial market scrutiny of euro-zone debt. Socialist Party candidate Francois HOLLANDE won the May 2012 presidential election, after advocating pro-growth economic policies, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, and hiring an additional 60,000 teachers during his five-year term. The government's attempt to introduce a 75% wealth tax on income over one million euros for two years was struck down by the French Constitutional Council in December 2012 because it applied to individuals rather than households. France ratified the EU fiscal stability treaty in October 2012 and HOLLANDE's government has maintained France's commitment to meeting the budget deficit target of 3% of GDP during 2013 even amid signs that economic growth will be lower than the government's forecast of 0.8%. Despite stagnant growth and fiscal challenges, France's borrowing costs declined during the second half of 2012 to euro-era lows.

Source : CIA

company summary

Name

DULON

SIRET

389 370 768 00019

		EUR VAT Number	FR01389370768
Activity (APE)	Buying and selling real estate	Legal form	Limited Liability Company
Phone	05 56 23 69 16	RCS Registration	RCS Bordeaux 9 389 370 768
Fax	05 57 34 41 29	Share capital	61,776 Euros
Address	DULON GRAND JEAN 33760 SOULIGNAC	Incorporated Date	12/1992
Nationality	France	Status	Economically active

This company is not under monitoring

Current Directors

1

Trading to Date	12/31/2011	12/31/2010	12/31/2009
Turnover	12,521 €	13,672 €	11,398 €
Gross Operating Surplus	36,70 % Turnover	7,79 % Turnover	46,45 % Turnover
Shareholders’ equity	28,740 €	43,128 €	-80,230 €
Net result	-13,909 €	-18,740 €	-13,601 €
Employees	0 employee

Trends
Profitability
Liquidity
Net worth

company details

Activity (APE)	Buying and selling real estate
RCS Registration	RCS Bordeaux 9 389 370 768	Share capital	61,776 Euros
Registration Court	Bordeaux (33)	Legal form	Limited Liability Company
Court Registry Number	19 9 2B02439	EUR VAT Number	FR01389370768
Incorporation Date	12/1992	Formation Date	12/1992
Deregistration Date		Last account Date	31/12/2011
Nationality	France

Establishment details

Activity (APE)	Buying and selling real estate	Business Pages FT®	PRODUCTEURS RECOLTANTS, VENTE DIRECTE DE VINS
Postal Address	DULON  GRAND JEAN  33760 SOULIGNAC	Trading Address	GRAND JEAN  33760 SOULIGNAC
Telephone	05 56 23 69 16
Fax	05 57 34 41 29

Type	Head office (one site company)	Status	Economically active
Formation Date	12/1992	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Gironde (33)	Region	Aquitaine
District	3	Area	48
City	SOULIGNAC	Size of urban area	Establishment in a rural municipality

Other establishments

Branches	1 branch entities in this company
Head office	> DULON <<<  - Activités des marchands de biens immobiliers (6810Z)  in SOULIGNAC  (33760)
Secondary establishments

Rationality	Legal unit with all establishments in same area
Mono-activity status	Legal unit having all establishments with the same main activity

Workforces

Workforce at address

0 employee

Company workforce

0 employee

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts 

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2011	31/12/2010	31/12/2009
Account period (month)	12	12	12
Account Type	Simple	Simple	Simple
Date of capture	15/12/2012	-	27/01/2011
Activity Code	6810Z	6810Z	6810Z
Employees	0	0	0

Active account

Annual Accounts	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Capital not called	-	-	-	-	-	0	-
Total fixed assets	72 099	-18,9%	88 940	-16,1%	106 023	605	11817,2%
- Intangible assets	0	0%	0	0%	0	0	0%
- Tangible assets	72 099	-18,9%	88 940	-16,1%	106 023	0	0%
- Financial assets	0	0%	0	0%	0	0	0%
Net current assets	2 077	-68,7%	6 626	4,6%	6 332	213 805,50	-99,0%
- Stocks	0	0%	0	0%	0	31 726,50	0%
- Advanced payments	0	-68,7%	0	0%	0	0	0%
- Receivables	2 077	-67,9%	6 474	5,5%	6 139	17 556,50	-88,2%
- Securities and cash	0	0%	0	0%	41	13 948	0%
- Prepaid expenses	0	0%	152	0%	152	0	0%
Accounts of regularization	-	-	-	-	-	0	-
Total Assets	74 176	-22,4%	95 566	-14,9%	112 355	283 531	-73,8%

Passive Account

Annual Accounts	31/12/2011		31/12/2010		31/12/2009	Sector Median2011
Shareholders' equity	28 740	-33,4%	43 128	153,8%	-80 230	32 188	-10,7%
Share capital	61 776	0%	61 776	62,1%	38 112	7 800	692,0%
Other capital resources	-	-	-	-	-	0	-
Risk Provisions	0	0%	0	0%	0	0	0%
Liabilities	45 434	-13,4%	52 438	-72,8%	192 584	188 405	-75,9%
- Financial liabilities	1 598	-93,5%	24 574	15,1%	21 345	75 016	-97,9%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	480	-86,4%	3 535	410,8%	692	4 776,50	-90,0%
- Tax and social liabilities	-	-	-	-	-	3 529,50	-
- Other debts and fixed assets liabilities	43 356	78,2%	24 329	-85,7%	170 547	865	4912,3%
Account regularization	-	-	-	-	-	0	-
Total liabilities	74 174	-22,4%	95 566	-14,9%	112 354	283 347,50	-73,8%

Results

Annual Accounts	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Sales of Goods	12 521	-8,4%	13 672	20,0%	11 398	62 127	-79,8%
Net turnover	12 521	-8,4%	13 672	20,0%	11 398	49 137	-74,5%
- of which net export turnover	0	0%	0	0%	0	0	0%
Operating charges	24 767	-16,6%	29 689	27,8%	23 235	61 830	-59,9%
Operating profit/loss	-12 246	23,5%	-16 017	-35,3%	-11 837	-323	-3691,3%
Financial income	0	0%	0	0%	0	0	0%
Financial charges	2 140	-33,1%	3 201	42,8%	2 242	858	149,4%
Financial profit/loss	-2 140	33,1%	-3 201	-42,8%	-2 242	-127	-1585,0%
Pretax net operating income	-14 386	25,1%	-19 218	-36,5%	-14 079	-337	-4168,8%
Extraordinary income	478	0%	478	0%	478	0	0%
Extraordinary charges	0	0%	0	0%	0	0	0%
Extraordinary profit/loss	478	0%	478	0%	478	0	0%
Net result	-13 909	25,8%	-18 740	-37,8%	-13 601	186,50	-7557,9%

Display parameter
Currency	Euro	Kilo Euro

Simple Account	31/12/2011	31/12/2010	31/12/2009
Months	12	12	12

Accounts - Active
Current Assets 

Grand Total - Active account (I + II)

			31/12/2011		31/12/2010		31/12/2010
	Grand Total (I + II)	Net	74 175	-22,4%	95 566	-14,9%	112 354
	Gross	110	335 966	-1,3%	340 515	0,1%	340 221
	Amortisation	112	261 790	6,9%	244 949	7,5%	227 866

Active fixed asset (I)

			31/12/2011		31/12/2010		31/12/2010
	Total Active fixed asset (I)	Net	72 099	-18,9%	88 940	-16,1%	106 023
	Gross	044	332 403	0%	332 403	0%	332 403
	Amortisation	048	260 304	6,9%	243 463	7,5%	226 380
	Intangible assets: Goodwill	Net	0	0%	0	0%	0
	Gross	10	0	0%	0	0%	0
	Amortisation	12	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	14	0	0%	0	0%	0
	Amortisation	16	0	0%	0	0%	0
	Tangible Assets	Net	72 099	-18,9%	88 940	-16,1%	106 023
	Gross	28	332 403	0%	332 403	0%	332 403
	Amortisation	30	260 304	6,9%	243 463	7,5%	226 380
	Immobilization Financial	Net	0	0%	0	0%	0
	Gross	40	0	0%	0	0%	0
	Accumulated depreciation	42	0	0%	0	0%	0

Assets (II)

			31/12/2011		31/12/2010		31/12/2010
	Total assets (II)	Net	2 077	-68,7%	6 626	4,6%	6 332
	Gross	96	3 563	-56,1%	8 112	3,8%	7 818
	Amortisation	98	1 486	0%	1 486	0%	1 486
	Raw materials stock, supply, in production	Net	0	0%	0	0%	0
	Gross	50	0	0%	0	0%	0
	Amortisation	52	0	0%	0	0%	0
	Goods for resale	Net	0	0%	0	0%	0
	Gross	60	0	0%	0	0%	0
	Amortisation	62	0	0%	0	0%	0
	Advance payments to suppliers	Net	0	0%	0	0%	0
	Gross	64	0	0%	0	0%	0
	Amortisation	66	0	0%	0	0%	0
	Trade accounts receivable debtor	Net	1 946	0%	1 946	0%	1 946
	Gross	68	3 432	0%	3 432	0%	3 432
	Amortisation	70	1 486	0%	1 486	0%	1 486
	Other debtors	Net	131	-97,1%	4 528	8,0%	4 193
	Gross	72	131	-97,1%	4 528	8,0%	4 193
	Amortisation	74	0	0%	0	0%	0
	Investment securities	Net	0	0%	0	0%	0
	Gross	80	0	0%	0	0%	0
	Amortisation	82	0	0%	0	0%	0
	Cash and cash equivalents	Net	0	0%	0	0%	41
	Gross	84	0	0%	0	0%	41
	Amortisation	86	0	0%	0	0%	0
	Cash	88 Net	0	0%	0	0%	0
	Prepaid expenses	Net	0	0%	152	0%	152
	Gross	92	0	0%	152	0%	152
	Amortisation	94	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Accounts - Passive 

Grand Total - Passive Accounts (I + II + III)

		31/12/2011		31/12/2010		31/12/2009
Grand Total (I+II+III)	180	74 175	-22,4%	95 566	-14,9%	112 354

Shareholder Equity (I)

			31/12/2011		31/12/2010		31/12/2009
	Total Shareholder Equity	142	28 740	-33,4%	43 128	153,8%	-80 230
	Equity and shareholders' equity	120	61 776	0%	61 776	62,1%	38 112
	Revaluation differentials	124	0	0%	0	0%	0
	Legal reserve	126	0	0%	0	0%	0
	Special regulated reserves	130	0	0%	0	0%	0
	Other reserves	132	112	0%	112	0%	0
	Profits or losses brought forward	134	-20 674	-969,0%	-1 934	98,2%	-107 133
	Profit or loss for the period	136	-13 909	25,8%	-18 740	-37,8%	-13 601
	Special tax-allowable reserves	140	1 435	-25,0%	1 914	-20,0%	2 392

Provisions for risks and charges (II)

		31/12/2011	31/12/2010	31/12/2009
Provisions for risks and charges (II)	154	0	0	0

Liabilities (III)

			31/12/2011		31/12/2010		31/12/2009
	Total Liabilities (III)	176	45 434	-13,4%	52 438	-72,8%	192 584
	Loans & debts assimilated	156	1 598	-93,5%	24 574	15,1%	21 345
	Advance payments received for current orders	164	0	0%	0	0%	0
	Trade accounts payables	166	480	-86,4%	3 535	410,8%	692
	Other debts	172	43 356	78,2%	24 329	-85,7%	170 547
	Other creditors whose accounts of associates of the exercise N	169	0	0%	0	0%	0
	Deferred income	174	0	0%	0	0%	0

References

		31/12/2011		31/12/2010		31/12/2009
Including Fiancial assets of -1 year	193	0	0%	0	0%	0
Including debts after one year	197	0	0%	0	0%	0
Including current accounts receivable associated	199	0	0%	0	0%	0
Including debts + 1 year	195	0	0%	0	0%	0
Cost of return of capital assets acquired or created during the year	182	0	0%	0	0%	0
Selling price excluding VAT capital surrendered during the year	184	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Simplified Income statement
Taxable income 

A - Account result 
1 - Operating result (I-II)

		31/12/2011		31/12/2010		31/12/2009
Operating result	270	-12 246	23,5%	-16 017	-35,3%	-11 837

2 - Profit or loss (I + II + IV) - Charges (II + V + VI + VII)

		31/12/2011		31/12/2010		31/12/2009
Profit or loss	310	-13 909	25,8%	-18 740	-37,8%	-13 601

Operating income (I)

			31/12/2011		31/12/2010		31/12/2009
	Total operating income without VAT (Total I)	232	12 521	-8,4%	13 672	20,0%	11 398
	Sale of goods for resale	210	0	0%	0	0%	0
	Export	209	0	0%	0	0%	0
	Sale of goods produced	214	0	0%	0	0%	0
	Export	215	0	0%	0	0%	0
	Sale of services	218	12 521	-8,4%	13 672	20,0%	11 398
	Export	217	0	0%	0	0%	0
	Stocked production	222	0	0%	0	0%	0
	Self-constructed assets	224	0	0%	0	0%	0
	Operating grants	226	0	0%	0	0%	0
	Other income	230	0	0%	0	0%	0

Operating charges (II)

			31/12/2011		31/12/2010		31/12/2009
	Total operating charges (Total II)	264	24 767	-16,6%	29 689	27,8%	23 235
	Purchase of goods for resale (including customs duties)	234	0	0%	0	0%	0
	Change in stocks of goods for resale	236	0	0%	0	0%	0
	Purchase of raw materials (including customs duties)	238	0	0%	0	0%	0
	Change in stocks of raw materials	240	0	0%	0	0%	0
	Other external purchases and charges	242	5 306	-47,3%	10 070	177,0%	3 635
	Includes lease - furniture	242_2	0	0%	0	0%	0
	Includes lease - real estate	242_1	0	0%	0	0%	0
	Tax, duty and similar payments	244	2 620	3,3%	2 537	2,8%	2 469
	Including business tax	243	174	6,1%	164	0,6%	163
	Payroll	250	0	0%	0	0%	0
	Social security costs	252	0	0%	0	0%	0
	Depreciation	254	16 841	-1,4%	17 082	-0,3%	17 131
	Provisions	256	0	0%	0	0%	0
	Other charges	262	0	0%	0	0%	0
	Including provisions for tax settlements abroad	259	0	0%	0	0%	0

Products and various charges (III to VII)

		31/12/2011		31/12/2010		31/12/2009
Financial Products (Total III)	280	0	0%	0	0%	0
Extraordinary income (Total IV)	290	478	0%	478	0%	478
Financial charges (Total V)	294	2 140	-33,1%	3 201	42,8%	2 242
Extraordinary charges (Total VI)	300	0	0%	0	0%	0
Income taxes (Total VII)	306	0	0%	0	0%	0

B - Taxable income

		31/12/2011		31/12/2010		31/12/2009
Compensation and benefits non-deductible personal	316	0	0%	0	0%	0
Amount VAT collected	374	0	0%	0	0%	161
Deductible VAT on goods and services	378	130	-61,2%	335	759,0%	39
Average number of employees	376	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Other incomes tax return forms
Capital gains, losses | Summary of Provisions - Depreciation Derogatory 

Assets

			31/12/2011		31/12/2010		31/12/2009
	Gross asset value at beginning of year	490	332 403	0%	332 403	0%	332 403
	Increases	492	0	0%	0	0%	0
	Decreasess	494	0	0%	0	0%	0

Intangible fixed assets

		31/12/2011		31/12/2010		31/12/2009
Goodwill (Increases)	402	0	0%	0	0%	0
Goodwill (Decreases)	404	0	0%	0	0%	0
Others (Increases)	412	0	0%	0	0%	0
Others (Decreases)	414	0	0%	0	0%	0

Tangible fixed assets (Increases)

		31/12/2011		31/12/2010		31/12/2009
Lands	422	0	0%	0	0%	0
Buildings	432	0	0%	0	0%	0
Plant machinery and equipment industry	442	0	0%	0	0%	0
General installations various fixtures	452	0	0%	0	0%	0
Transportation Equipment	462	0	0%	0	0%	0
Other fixed assets	472	0	0%	0	0%	0

Financial assets

		31/12/2011		31/12/2010		31/12/2009
Increases	482	0	0%	0	0%	0
Decreases	484	0	0%	0	0%	0

Capital gains, losses

		31/12/2011		31/12/2010		31/12/2009
Total Residual Value	582	0	0%	0	0%	0
Total Transfer pricing	584	0	0%	0	0%	0
Total Plus or losses in the short term	596	0	0%	0	0%	0
Total Plus or losses in the long term	598	0	0%	0	0%	0

Summary of Provisions - Depreciation Derogatory

			31/12/2011		31/12/2010		31/12/2009
	Total Provisions (increases)	682	0	0%	0	0%	0
	Provisions regulated - Depreciation Derogatory	602	0	0%	0	0%	0
	Provisions regulated - Including exceptional increases of 30%	603	0	0%	0	0%	0
	Other Provisions regulated	612	0	0%	0	0%	0
	Provisions for risks and charges	622	0	0%	0	0%	0
	Provisions for losses - On Capital	632	0	0%	0	0%	0
	Provisions for losses - and current stocks	642	0	0%	0	0%	0
	Provisions for losses - clients and accounts payable	652	0	0%	0	0%	0
	Other Provisions for losses	662	0	0%	0	0%	0
	Total Provisions (decreases)	684	0	0%	0	0%	0
	Provisions regulated - Depreciation Derogatory	604	0	0%	0	0%	0
	Provisions regulated - Including exceptional increases of 30%	605	0	0%	0	0%	0
	Other Provisions regulated	614
	Provisions for risks and charges	624	0	0%	0	0%	0
	Provisions for losses - On Capital	634	0	0%	0	0%	0
	Provisions for losses - and current stocks	644	0	0%	0	0%	0
	Provisions for losses - clients and accounts payable	654	0	0%	0	0%	0
	Other Provisions for losses	664	0	0%	0	0%	0

Display parameter
Comparison mode	Average	Median

Ratios
Structure and liquidity | Management or rotation | Profitability of the business | Return on capital

Structure and Liquidity

		31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Fixed Asset Financing		0,87	-7,4%	0,94	88,0%	0,50	6,19	-85,9%
Global Debt		1306 days	-5,4%	1381 days	-77,3%	6083 days	457 days	185,8%
Working Capital Fund overall net		-1201 days	-114,8%	-559 days	89,3%	-5209 days	261 days	-560,2%
Financial independence		1798,50%	924,8%	175,50%	146,7%	-375,87%	35,46%	4971,9%
More ratios
Solvability		38,75%	-14,1%	45,13%	163,2%	-71,41%	17,56%	120,7%
Capacity debt futures		%	-	%	-	%	79,43%	-
Coverage of current assets by net working capital overall		-1172,07%	-339,3%	-266,81%	87,6%	-2151,16%	65,73%	-1883,2%
General Liquidity		0,08	-46,7%	0,15	275,0%	0,04	0,17	-52,9%
Restricted Liquidity		0,08	-46,7%	0,15	275,0%	0,04	0,59	-86,4%

Management or rotation

		31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Need background in operating working capital		-1201 days	-113,3%	-563 days	89,2%	-5215 days	146 days	-922,6%
Treasury		0 days	0%	0 days	0%	0 days	15 days	0%
Inventory turnover of goods		days	-	days	-	days	121 days	-
Average length of credit granted to customers		99 days	10,0%	90 days	-15,9%	107 days	0 days	0%
Average length of credit obtained suppliers		32 days	-73,8%	122 days	79,4%	68 days	53 days	-39,6%
More ratios
Inventory turnover of raw materials in industrial enterprises		days	-	days	-	days	0 days	-
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	3162 days	-
Rotation tangible assets		3,77%	-8,3%	4,11%	19,8%	3,43%	397,53%	-99,1%

Profitability of the business

		31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Margin trading		0%	0%	0%	0%	0	0%	0%
Profitability of the business		36,70	371,1%	7,79	-83,2%	46,45	9,37%	291,7%
Net profit		-111,09%	19,0%	-137,07%	-14,9%	-119,33%	5,64%	-2069,7%
More ratios
Growth rate of turnover (excluding VAT)		%	-	%	-	%	0%	-
Rates integration		57,62%	118,7%	26,35%	-61,3%	68,11%	19,41%	196,9%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		0%	0%	0%	0%	0%	0%	0%
Weight interests		17,09	-27,0%	23,41%	19,0%	19,67%	1,22%	1300,8%

Return on capital

		31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Cash flow from the overall profitability		23,42%	293,1%	-12,13%	-139,2%	30,97%	7,32%	219,9%
Rates of economic profitability		15,15%	865,0%	1,57%	117,5%	-8,99%	1%	1415,0%
Financial profitability		-48,40%	-11,4%	-43,45%	-356,3%	16,95%	5792%	-100,8%
Return on investment		-38,79%	-69,0%	-22,95%	-219,0%	19,29%	3,48%	-1214,7%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2011		31/12/2010		31/12/2009	Sector Median 2011
Turnover	12 521	-8,4%	13 672	20,0%	11 398	49 137 €	-74,5%

Sales of goods	0	0%	0	0%	0
- Purchase of goods	0	0%	0	0%	0
+/- Stock of goods variation	0	0%	0	0%	0
Trading margin	0 €	0%	0 €	0%	0 €	0 €	0%
	% CA	-	% CA	-	% CA	0 % CA	-

Sale of goods produced	12 521	-8,4%	13 672	20,0%	11 398
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	12 521 €	-8,4%	13 672 €	20,0%	11 398 €	7 712,50 €	62,3%
	100,00 % CA	0%	100,00 % CA	0%	100,00 % CA	100 % CA	0%

Trading margin	0	0%	0	0%	0	0	0%
+ Period Production	12 521	-8,4%	13 672	20,0%	11 398	7 712,50	62,3%
- Purchase of raw materials	0	0%	0	0%	0
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	5 306	-47,3%	10 070	177,0%	3 635
Added value	7 215 €	100,3%	3 602 €	-53,6%	7 763 €	4 906 €	47,1%
	57,62 % CA	118,7%	26,35 % CA	-61,3%	68,11 % CA	19,41 % CA	196,9%

Added value	7 215 €	100,3%	3 602 €	-53,6%	7 763 €	4 906 €	47,1%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	2 620	3,3%	2 537	2,8%	2 469
- Personal charges	0	0%	0	0%	0
Gross operating surplus	4 595 €	331,5%	1 065 €	-79,9%	5 294 €	-297 €	1647,1%
	36,70 % CA	371,1%	7,79 % CA	-83,2%	46,45 % CA	9,37 % CA	291,7%

Gross operating surplus	4 595 €	331,5%	1 065 €	-79,9%	5 294 €	-297 €	1647,1%
+ Release of reserves and provisions	-	-	-	-	-
+ Other operating income	0	0%	0	0%	0
- Depreciation/Amortisation	16 841	-1,4%	17 082	-0,3%	17 131
- Other charges	0	0%	0	0%	0
Operating result	-12 246 €	23,5%	-16 017 €	-35,3%	-11 837 €	-327,50 €	-3639,2%
	-97,80 % CA	16,5%	-117,15 % CA	-12,8%	-103,85 % CA	7,75 % CA	-1361,9%

Operating result	-12 246 €	23,5%	-16 017 €	-35,3%	-11 837 €	-327,50 €	-3639,2%
+/- Result of joint-venture transferred from/to other partners	-	-	-	-	-
+ Financial income	0	0%	0	0%	0
- Financial charges	2 140	-33,1%	3 201	42,8%	2 242
Pre-tax result	-14 386 €	25,1%	-19 218 €	-36,5%	-14 079 €	-410,50 €	-3404,5%
	-114,89 % CA	18,3%	-140,56 % CA	-13,8%	-123,52 % CA	5,59 % CA	-2155,3%

Extraordinary income	478	0%	478	0%	478	0	0%
- Extraordinary charges	0	0%	0	0%	0
Extraordinary result	478 €	0%	478 €	0%	478 €	0 €	0%
	3,82 % CA	9,1%	3,50 % CA	-16,5%	4 % CA	0 % CA	0%

Pre-tax result	-14 386 €	25,1%	-19 218 €	-36,5%	-14 079 €	-410,50 €	-3404,5%
Extraordinary result	478 €	0%	478 €	0%	478 €	0 €	0%
- Employee profit sharing	-	-	-	-	-
- Tax on profits	0	0%	0	0%	0
Net result	-13 908 €	25,8%	-18 740 €	-37,8%	-13 601 €	76 €	-18400%
	-111,08 % CA	19,0%	-137,07 % CA	-14,9%	-119,33 % CA	5,48 % CA	-2127,0%

Commentary

The comments are ordered according to the class of risk. Companies are compared with regard to other companies of the same type. Thus a positive comment for one category can be negative for another or can change depending on its value. This is a purely statistical decision.

The decrease in the gearing percentage over the last two accounting periods is 90 %

The increase in the pre-tax profit margin over the last two accounting periods is 19 %

The increase in pre-tax profit over the last two accounting periods is 26 %

The receivables value is 2,077 €

The stocks value is 0 €

The tangible fixed assets are 72,099 €

The trade payables value is 480 €

Low risk workforce size

Industry code with low risk rating

Region code with low risk rating

The company is 21 years old

The financial liabilities are 1,598 €

The ratio total assets to total liabilities is 1,63

The net current assets are 2,077 €

The net turnover is 12,521 €

The pre-tax profit is -13,909 €

The sales to current assets ratio is 6,03

The decrease in the equity percentage over the last two accounting periods is 14 %

The decrease in the return on capital employed over the last two accounting periods is 11 %

The decrease in the current ratio over the last two accounting periods is 64 %

judgements

Collective procedures

No judgment information for the company

Social security, pension funds preferential rights | Tax office preferential rights

Preferential rights details and history

Status of collection

This company is not under monitoring

Group data

Group Structure

No group information available for the company

Shareholders

No Shareholders available for this company

Linkages

No Linkages information available for the company

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
19/11/2012	Bodacc C	Comptes annuels et rapports
33 - GIRONDE GREFFE DU TRIBUNAL DE COMMERCE DE BORDEAUX 2359 - 389370768 RCS. DULON SARL. Forme : Société à responsabilité limitée. Adresse : Grand Jean 33760 Soulignac. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
19/11/2012	Bodacc C	Comptes annuels et rapports
33 - GIRONDE GREFFE DU TRIBUNAL DE COMMERCE DE BORDEAUX 2360 - 389370768 RCS. DULON SARL. Forme : Société à responsabilité limitée. Adresse : Grand Jean 33760 Soulignac. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
06/04/2011	Bodacc B	Modification et mutation diverse
33 - GIRONDE GREFFE DU TRIBUNAL DE COMMERCE DE BORDEAUX 782 - 389 370 768 RCS Bordeaux. DULON SARL. Forme : Société à responsabilité limitée. Capital : 61776 EUR. Activité : . Commentaires : Modification du capital.
25/02/2011	JAL	Modification of the share capital
Echos Judiciaires Girondins (Les) Date de décision : 17/12/2010 La société : 389370768 - DULON, GRAND JEAN, 33760 SOULIGNAC a subi une augmentation de son capital social désormais de 61 776 € Date d'effet : 17/12/2010
17/09/1995	Bodacc B	Modifications et mutations diverses
RCS Bordeaux B 389 370 768 RC 92-B 2439 DULON S.A.R.L. Forme : S.A.R.L. Capital : 250 000 F. Commentaires : modification survenue sur le capital.

Company events history

Date	Description
09/01/2014	Update Limit
09/01/2014	Update Rating
15/10/2013	Update Limit
15/10/2013	Update Rating
26/12/2012	Amendment
26/12/2012	Updated articles of association
18/12/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
19/11/2012	Bodacc C : Deposit accounts notice
31/12/2011	New accounts available
06/04/2011	Bodacc B: Various editing or changing
29/03/2011	Power of attorney
29/03/2011	Updated articles of association
29/03/2011	Minutes of general meeting of shareholders
29/03/2011	Capital reduction
29/03/2011	Capital increase
22/03/2011	Minutes of general meeting of shareholders
22/03/2011	Continuation of business despite loss of equity
22/03/2011	Power of attorney
14/02/2011	Bodacc C : Deposit accounts notice
31/12/2010	New accounts available
17/12/2010	Legal Gazette: Modification of the share capital
17/12/2010	Other modification of Establishment
31/12/2009	New accounts available
01/09/1995	Expédition acte notarié
01/09/1995	Augmentation de Capital
01/09/1995	Statuts mis à jour
09/12/1992	Formation de Société
09/12/1992	Acte sous seing privé
09/12/1992	Déclaration de conformité
09/12/1992	Statuts
09/12/1992	PV d'Assemblée

Establishment events history

Date	Description
06/11/2013	Update Limit
06/11/2013	Update Rating
19/08/2013	Update Rating
18/12/2012	Update Limit
18/12/2012	Update Rating
18/05/2012	Update of phone numbers
29/01/2011	Update Limit
29/01/2011	Update Rating
17/12/2010	Modification of Head office
25/08/2010	Update Limit
26/07/2010	Update Limit
30/12/2009	Update Rating
27/09/2008	Update Rating
16/12/2007	Update Limit

directors

Name	Mme. DULON FRANCOISE, MARIE-CHRISTINE
Manager position	Manager	Date of birth	10/03/1959
Place of birth	BORDEAUX (33)
Type	Individual	Name at birth	CASSOULET

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
Manager	DULON FRANCOISE, MARIE-CHRISTINE	10/03/1959 - BORDEAUX (33)
Manager	MME FRANCOISE DULON	10/03/1959 - BORDEAUX

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.12
UK Pound	1	Rs.103.93
Euro	1	Rs.85.17

INFORMATION DETAILS

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.