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Report Date : |
14.07.2014 |
IDENTIFICATION DETAILS
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Name : |
BAGS FOR LIVING WARENHANDELS-GMBH |
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Registered Office : |
Grenzacher Str. 35, D 96317 Kronach |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
04.11.2005 |
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Com. Reg. No.: |
HRB 4053 |
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Legal Form : |
Private limited company |
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Line of Business : |
·
Wholesale of
leather goods, luggage, giftware and advertising articles ·
Retail sale
of leatheware and baggage |
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|
No. of Employees : |
22 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
GERMANY - ECONOMIC OVERVIEW
The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, has contributed to strong growth and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 5.3% in 2013. The new German government introduced a minimum wage of $11 per hour to take effect in 2015. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011 and in 2012 Germany reached a budget surplus of 0.1%. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016 though the target was already reached in 2012. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela MERKEL announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its electricity generating capacity and 46% of its base-load electricity production.
|
Source
: CIA |
BAGS FOR LIVING WARENHANDELS-GMBH
Company Status: active
Grenzacher Str. 35
D 96317 Kronach
Telephone:09261/506411
Telefax: 09261/506412
Homepage:
www.bagsforliving.de
E-mail: info@bagsforliving.de
VAT no.: DE133039198
Tax ID number: 228/257/20034
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 04.11.2005
Shareholders'
agreement: 04.11.2005
Registered on: 23.11.2005
Commercial Register: Local court 96450 Coburg
under: HRB
4053
Share capital: EUR 25,000.00
Shareholder:
Frank Passador
Grenzacher Str. 25
D 96317 Kronach
born: 11.10.1968
Share: EUR 25,000.00
Manager:
Frank Passador
Grenzacher Str. 25
D 96317 Kronach
having sole power of representation
born: 11.10.1968
Profession: Businessman
Marital status: married
Further
functions/participations of Frank Passador (Manager)
Proprietor:
Frank Passador
Neuglosberg 34
D 96317 Kronach
Legal form: Unregistered
commercial
enterprise
04.11.2005 - 22.11.2012 bags for living Warenhandels-GmbH
Alte Ludwigsstädter
Str. 17
D 96317 Kronach
Private limited
company
Main industrial sector
46493 Wholesale
of leather goods, luggage, giftware and advertising articles
47722
Retail sale of leatheware and baggage
Payment experience: within
agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Alte
Ludwigsstädter Str. 17
D 96317 Kronach
Land register documents were not available.
SPARKASSE KULMBACH-KRONACH, 96317 KRONACH,
OBERFR
Sort. code: 77150000
BIC: BYLADEM1KUB
Turnover: 2013 *EUR 1,855,000.00
Profit: 2012 EUR 617,905.00
further business figures:
Equipment:
*EUR 112,000.00
Ac/ts receivable: EUR 218,587.00
Liabilities: EUR 1,176,393.00
Total numbers of vehicles: 3
- Passenger cars: 3
Employees:
22
- thereof permanent staff: 6
- Part-time employees: 16
The business figures marked with an asterisk
are estimates based
on average values in the line of business.
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 65.99
Liquidity ratio: 10.00
Return on total capital [%]: 20.49
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 58.42
Liquidity ratio: 10.00
Return on total capital [%]: 15.87
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 59.51
Liquidity ratio: 10.00
Return on total capital [%]: 17.89
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 56.81
Liquidity ratio: 10.00
Return on total capital [%]: 21.15
Equity ratio
The equity ratio indicates the portion of the
equity as compared
to the total capital. The higher the equity
ratio, the better the
economic stability (solvency) and thus the
financial autonomy of
a company.
Liquidity ratio
The liquidity ratio shows the proportion
between adjusted
receivables and net liabilities. The higher
the ratio, the lower
the company's financial dependancy from external
creditors.
Return on total capital
The return on total capital shows the
efficiency and return on
the total capital employed in the company. The
higher the return
on total capital, the more economically does
the company work
with
the invested capital.
Type of balance sheet: Company balance sheet
Financial
year: 01.01.2012 - 31.12.2012
ASSETS EUR 3,016,460.30
Fixed assets
EUR 648,624.50
Intangible assets
EUR 2,974.00
Tangible assets
EUR 645,650.50
Current assets
EUR 2,341,535.80
Stocks
EUR 545,571.12
Accounts receivable
EUR 218,586.89
Liquid means
EUR 1,577,377.79
Remaining other assets
EUR 26,300.00
Accruals (assets) EUR 26,300.00
LIABILITIES EUR 3,016,460.30
Shareholders' equity
EUR 1,693,537.37
Capital
EUR 25,000.00
Subscribed capital (share capital)
EUR 25,000.00
Balance sheet profit/loss (+/-)
EUR 1,668,537.37
Profit / loss brought forward
EUR 1,050,632.32
Annual surplus / annual deficit
EUR 617,905.05
Provisions
EUR 139,774.44
Liabilities
EUR 1,176,393.49
Other liabilities
EUR 6,755.00
Deferred taxes (not included under
provisions/liabilities)
EUR 6,755.00
Type of
balance sheet: Company
balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 2,203,238.32
Fixed assets EUR 725,878.50
Intangible assets
EUR 3,780.00
Other / unspecified intangible assetsEUR 3,780.00
Tangible assets
EUR 722,098.50
Other / unspecified tangible assets
EUR 722,098.50
Current assets
EUR 1,471,010.27
Stocks
EUR 392,737.53
Accounts receivable
EUR 190,805.18
Other debtors and assets
EUR 190,805.18
Liquid means
EUR 887,467.56
Remaining other assets
EUR 6,349.55
Accruals (assets)
EUR 6,349.55
LIABILITIES EUR 2,203,238.32
Shareholders' equity
EUR 1,075,632.32
Capital
EUR 25,000.00
Subscribed capital (share capital)
EUR 25,000.00
Balance sheet profit/loss (+/-)
EUR 1,050,632.32
Profit / loss brought forward
EUR 701,486.04
Annual surplus / annual deficit
EUR 349,146.28
Provisions
EUR 114,839.60
Liabilities
EUR 1,012,766.40
Other liabilities
EUR 1,012,766.40
Unspecified other liabilities
EUR 1,012,766.40
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.19 |
|
|
1 |
Rs.103.15 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
NNA |
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 |
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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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.