MIRA
INFORM REPORT
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Report Date : |
11.01.2014 |
IDENTIFICATION DETAILS
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Name : |
CACHE ARTESANO SL |
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Registered Office : |
C/ Fernan
Caballero, 7 - A. Ubrique, 11600 |
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Country : |
Spain |
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Financials (as on) : |
31.12.2012 |
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Year of Establishments: |
1997 |
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Com. Reg. No.: |
B11417946 |
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Legal Form : |
Private
Independent Company |
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Line of Business : |
Manufacturer of
luggage, handbags and the like, saddlery and harness |
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No. of Employees : |
18 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Spain |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Spain ECONOMIC OVERVIEW
After almost 15
years of above average GDP growth, the Spanish economy began to slow in late
2007 and entered into a recession in the second quarter of 2008. GDP contracted
by 3.7% in 2009, ending a 16-year growth trend, and by another 0.3% in 2010;
GDP expanded 0.4% in 2011, before contracting 1.4% in 2012. The economy has
once again fallen into recession as deleveraging in the private sector, fiscal
consolidation, and continued high unemployment weigh on domestic demand and
investment, even as exports have shown signs of resiliency. The unemployment
rate rose from a low of about 8% in 2007 to 26.0% in 2012. The economic
downturn has also hurt Spain's public finances. The government budget deficit
peaked at 11.2% of GDP in 2010 and the process to reduce this imbalance has
been slow despite the central government's efforts to raise new tax revenue and
cut spending. Spain reduced its budget deficit to 9.4% of GDP in 2011, and
roughly 7.4% of GDP in 2012, above the 6.3% target negotiated between Spain and
the EU. Although Spain''s large budget deficit and poor economic growth
prospects remain a source of concern for foreign investors, the government''s
ongoing efforts to cut spending and introduce flexibility into the labor
markets are intended to assuage these concerns. The government is also taking
steps to shore up the banking system, namely by using up to $130 billion in EU
funds to recapitalize struggling banks exposed to the collapsed domestic
construction and real estate sectors.
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Source : CIA |
Company
name & address
Cache Artesano Sl
C/ Fernan
Caballero, 7 - A.
Ubrique, 11600
Spain
Tel: +(34) 956464026
Previous Address:
Calle San Ignacio Loyola 18
11600 Ubrique Cádiz, Spain
Synthesis
Employees: 18
Company Type: Private
Independent
Incorporation
Date: 1997
Financials in: USD Millions
Fiscal Year End: 07-Aug-2013
Reporting
Currency: Euro
Annual Sales: 6.0 1
Net Income: 0.0
Total Assets: 3.1
Business
Description
Manufacture of
luggage, handbags and the like, saddlery and harness
Industry
Industry
Clothing and Apparel Manufacturing
ANZSIC 2006: 1320 - Leather Tanning, Fur Dressing and
Leather Product Manufacturing
ISIC Rev 4: 1512 - Manufacture of luggage, handbags
and the like, saddlery and harness
NACE Rev 2: 1512 - Manufacture of luggage, handbags
and the like, saddlery and harness
NAICS 2012: 316998 - All Other Leather Good and Allied
Product Manufacturing
UK SIC 2007: 1512 - Manufacture of luggage, handbags and
the like, saddlery and harness
US SIC 1987: 31 - Leather and Leather Products
Key
Executives
Name Title
Casillas Sevilla
Jesus Administrator, Managing Director
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7685217
2 - Balance Sheet
Item Exchange Rate: USD 1 = EUR 0.7518815
Corporate
Overview
Location
C/ Fernan
Caballero, 7 - A.
Ubrique, 11600
Spain
Tel: +(34) 956464026
Sales EUR(mil): 4.6
Assets EUR(mil): 2.3
Employees: 18
Fiscal Year End: 07-Aug-2013
Industry: Apparel
and Accessories
Incorporation
Date: 1997
Company Type: Private Independent
Quoted Status: Not Quoted
Registered No.(ESP): B11417946
Administrator, Managing Director:
Casillas Sevilla Jesus
Industry Codes
ANZSIC 2006 Codes:
1320 - Leather Tanning, Fur Dressing and
Leather Product Manufacturing
ISIC Rev 4 Codes:
1512 - Manufacture of luggage, handbags and
the like, saddlery and harness
NACE Rev 2 Codes:
1512 - Manufacture of luggage, handbags and
the like, saddlery and harness
NAICS 2012 Codes:
316998 - All Other Leather Good and Allied
Product Manufacturing
US SIC 1987:
31 - Leather and Leather Products
UK SIC 2007:
1512 - Manufacture of luggage, handbags and
the like, saddlery and harness
Business Description
Manufacture of luggage, handbags and the like,
saddlery and harness
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Executives Report
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Executives |
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Administrator, Managing Director |
Managing Director |
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Annual
Profit & Loss
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.778237 |
0.71919 |
0.755078 |
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Consolidated |
No |
No |
No |
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Charges |
5.9 |
5.1 |
5.5 |
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Staff Costs |
0.6 |
0.5 |
0.4 |
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Wages and Salaries |
0.4 |
0.4 |
0.3 |
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Social Security Costs |
0.1 |
0.1 |
0.1 |
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Depreciation |
0.0 |
0.0 |
0.0 |
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Other Operating Charges |
0.6 |
0.5 |
0.7 |
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Operating Benefits |
0.1 |
0.2 |
0.1 |
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Financials and Similar Charges |
0.1 |
0.1 |
0.1 |
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Due to Liabilities
With Group Companies |
0.1 |
0.1 |
0.0 |
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Due to Other
Liabilities |
0.0 |
0.0 |
0.0 |
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Losses from Financial
Investments |
0.0 |
0.0 |
- |
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Exchange Losses |
0.0 |
0.0 |
0.0 |
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Profit From Ordinary Activities |
0.1 |
0.1 |
0.0 |
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Losses From Assets and Securities Portfolio |
0.0 |
- |
0.0 |
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Extraordinary Profit |
0.0 |
0.0 |
- |
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Profit Before Taxes |
0.1 |
0.1 |
0.0 |
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Corporation Tax |
0.0 |
0.0 |
0.0 |
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Financial Year Result (Profit) |
0.0 |
0.1 |
0.0 |
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Income |
6.0 |
5.2 |
5.6 |
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Net Total Sales |
5.9 |
5.1 |
5.5 |
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Negative Financial Results |
0.1 |
0.1 |
0.0 |
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Extraordinary Income |
0.0 |
0.0 |
0.0 |
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Negative Extraordinary Results |
- |
- |
0.0 |
Annual Balance Sheet
Financials in: USD (mil)
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
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Consolidated |
No |
No |
No |
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Total Intangible Fixed Assets |
0.0 |
0.0 |
0.0 |
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Total Tangible Fixed Assets |
0.4 |
0.4 |
0.4 |
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Financial Investments |
- |
1.0 |
1.0 |
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Total Fixed Assets |
0.4 |
1.4 |
1.5 |
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Total Stocks |
0.8 |
0.7 |
0.3 |
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Total Debtors |
0.3 |
0.6 |
0.6 |
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Total Short-Term Investments |
1.1 |
0.1 |
0.0 |
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Cash |
0.5 |
0.1 |
0.1 |
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Total Current Assets |
2.7 |
1.4 |
0.9 |
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Total Assets |
3.1 |
2.8 |
2.4 |
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Total Reserves |
0.6 |
0.5 |
0.5 |
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Profit or Loss for the Financial Year |
0.1 |
0.1 |
0.0 |
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Total Equity |
0.7 |
0.6 |
0.6 |
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Total Long Term Liabilities |
0.0 |
0.0 |
0.0 |
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Total Short Term Creditors |
2.3 |
2.1 |
1.8 |
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Total Liabilities and Equity |
3.1 |
2.8 |
2.4 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.94 |
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UK Pound |
1 |
Rs.102.06 |
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Euro |
1 |
Rs.84.31 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.