MIRA INFORM REPORT

 

 

Report Date :

18.06.2014

 

IDENTIFICATION DETAILS

 

Name :

TEA KIRJASTUS AKTSIASELTS

 

 

Registered Office :

Liivalaia 28, Tallinn, Harju county, 10118

 

 

Country :

Estonia

 

 

Financials (as on) :

31.12.2012

 

 

Year of Establishment :

1988

 

 

Com. Reg. No.:

10403710

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Engaged in publishing of Book such as Dictionary, Reference Books & Estonian Children's Books.

 

 

No of Employees :

85 (21.05.2013)

 

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 :

No Complaints

 

 

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)

Estonia

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

Estonia ECONOMIC OVERVIEW

 

Estonia, a member of the European Union and the eurozone since 2004, has a modern market-based economy and one of the higher per capita income levels in Central Europe and the Baltic region. Estonia's successive governments have pursued a free market, pro-business economic agenda and have wavered little in their commitment to pro-market reforms. The current government has followed sound fiscal policies that have resulted in balanced budgets and low public debt. The economy benefits from strong electronics and telecommunications sectors and strong trade ties with Finland, Sweden, Russia, and Germany. Estonia's economy fell into recession in mid-2008, as a result of an investment and consumption slump following the bursting of the real estate market bubble and a decrease in export demand as result of economic slowdown in the rest of Europe, but the economy has recovered strongly in the last five years. Growth was expected to top 2% in 2014, before the events in Ukraine. Estonia adopted the euro on 1 January 2011.

 

Source : CIA

 

 

 

 


 

Identification     

 

Full Name

:

TEA Kirjastus Aktsiaselts

Name in English

:

TEA Publishers PLC

Name in national language

:

TEA Kirjastus AS

Trading Names, Brands

:

TEA, ILO

Office Address

:

Paavli 1 / Kopli 33, Tallinn, Harju county, 10412, Estonia

Legal Address

:

Liivalaia 28, Tallinn, Harju county, 10118, Estonia

Contacts

:

-

Phone

:

(+372) 6161022; 6161002

-

Fax

:

(+372) 6161008

-

E-mail

:

info@tea.ee

-

WWW

:

www.tea.ee

 

 

Company SUMMARY


Legal Form : AS (Public Limited Company by Estonian Commercial Law)

Incorporation : 1988

Staff : 85

Litigation events : n/a
Remarks on payments : yes

 

Sales :

3 579 739.00 EUR ( for 12 months, ended 31.12.2011 )

3 566 914.00 EUR ( for 12 months, ended 31.12.2010 )

 

Incorporation

:

1988

Important Notes

- 29.12.2009

:

Merger

Official notes: Merged company: AS KIRJASTUS ILO (Estonia, 10570322). Merged company was deleted from the State Register. Legal successor: TEA Kirjastus AS (Estonia, 10403710).

Registration Data

Date of registration

:

09.03.1998

Registration number

:

10403710

Registr. authority

:

Registration department of the County Court (Harju county, Estonia)

Date of registration

:

01.01.1994

VAT number

:

EE100175136

Registr. authority

:

Estonian Tax and Customs Board (Harju county, Estonia)

VAT payers are persons (including legal persons), whose taxable supply from the beginning of a calendar year exceeds 16 000 EUR. VAT rate is 20 percent.

Legal Form

:

AS (Public limited company by Estonian Commercial Law)

since 09.03.1998

Public Limited company (PLC) is a company with a share capital divided into shares. The company is liable for its obligations with all its assets. The minimum share capital must be at least 400,000.00 EEK (25,564.00 EUR).

Share Capital

:

800 000 EEK (registered)

since 05.01.2001

Shareholders

:

-

Mrs Tomingas, Silva (Estonia)

100.00 %

share's book value

:

800 000 EEK

reg. number

:

45211200313

address

:

Saku parish, Harju county, Estonia

Simple ownership Currently related in Estonia to the following companies: 1 Osaühing Neotrend (10141931) (Deleted (28.07.2006)) 2 Aktsiaselts TEA Kirjastus (10403710) (Active) 3 Aktsiaselts TEA Keeleõpetus (10305717) (Active) 4 sihtasutus Tallinna Lastehaigla Toetusfond (90000647) (Active) 5 Sihtasutus Junior Achievement Eesti (90000587) (Active) 6 Osaühing Keelevara (11026787) (Active) Was related in Estonia to the following companies: 1 AS KIRJASTUS ILO (10570322) (Deleted (29.12.2009)) 2 Mittetulundusühing Eesti Naisettevõtjate Liit (80172717) (Deleted (18.07.2012)) 3 Eesti Naiste Koostöökett (80192157) (Active)

The information system of the Commercial Register presents data about the shareholders of public limited companies holding more than 10% of the votes determined by shares. The data about shareholders in the information system of the Commercial Register has an informative meaning. The data of the Estonian Central Register of Securities has legal power on the basis of the Estonian Central Register of Securities Act. Due to the transition to the new software of commercial register information system, details of shareholders as at 27.12.2012.y. Data updating in the system will recover as soon as possible.

 

Board / Executives       

 

Board

Supervisory Board Member

:

Mrs Purdelo-Tomingas, Piret (Estonia)

pers. code: 47407060346

address: Tallinn, Harju county, Estonia

Supervisory Board Member

:

Mr Tomingas, Ahti (Estonia)

pers. code: 37210060287

address: Tallinn, Harju county, Estonia

Supervisory Board Member

:

Mr Tomingas, Lauri (Estonia)

pers. code: 38005260365

address: Tallinn, Harju county, Estonia

Executives

Board Member

:

Mrs Tomingas, Silva (Estonia)

pers. code: 45211200313

address: Saku parish, Harju county, Estonia

The member of the management board: Until 01.01.2013* * The dates of duration of authorisation in e-Business Register have no legal effect. If the data does not indicate the duration of authorisation, the member of the management board might be elected for an unspecified term (subsection 184(2) of the Commercial Code).

Every member of the Management Board may represent the public limited company in concluding all transactions.

Authorised signature

:

Mrs Tomingas, Silva

Changes in Registration Data

- 04.09.2012

:

managers, authorised signature

Mr Kalev Tomingas (Estonia, 35211080269)

- 30.06.2010

:

activities

Principal activity: Book publishing NACE code: 58.11

Persons Previously Connected to the Company Urmas Liivanurm ID code (date of birth): 35703050236 location: Estonia Auditor since 01/01/2000 until 20/03/2013 Kalev Tomingas ID code (date of birth): 35211080269 location: Estonia Member of the Council since 25/08/1997 until 06/01/2005 Kalev Tomingas ID code (date of birth): 35211080269 location: Estonia Member of the Board since 24/01/2005 until 04/09/2012 Silva Tomingas ID code (date of birth): 45211200313 location: Estonia Stockholder since 27/06/2003 until 31/05/2013

Activities

:

-

2731

Publish/print books

(NACE 2211: Publishing of books)

Principal activity: Book publishing NACE code: 58.11

 

Engaged in publishing of Book such as Dictionary, Reference Books & Estonian Children's Books.

Staff employed

:

85

( the data as of 21.05.2013 )

Staff History

:

-

88

( the data as of 31.12.2012 )

-

98

( the data as of 31.12.2011 )

-

104

( the data as of 31.12.2010 )

-

63

( the data as of 31.12.2008 )

-

55

( the data as of 31.12.2007 )

-

47

( the data as of 31.12.2006 )

Export

- 31.12.2012

:

Fiscal period: 12 month(s), currency: EUR

50 000.00

[E]

European Union, United States of America, Asia

Import

:

Latvia, India, European Union

Facilities

Real estate

:

own:

-

Premises - Office

size/amnt

:

303.00 m2

address

:

Tallinn, Harju county, Estonia

rent:

-

Warehouse

size/amnt

:

446.00 m2

address

:

Kalmistu tee 26A, Tallinn, Harju county, Estonia

-

Premises - Office

size/amnt

:

802.00 m2

address

:

Tallinn, Harju county, Estonia

According to Estonian Land Register, company required has 1 real estate object: - Harjumaa, Tallinna linn, Kesklinna linnaosa, Liivalaia tn 28 - 13-33 (Residential Land 85%, Business Centre 15%; 2676 m2)

Other Property

:

own:

-

Other tools & equipment - Car

quantity

:

6.00 unit(s)

-

Other tools & equipment - Transport vehicle

quantity

:

1.00 unit(s)

-

Other tools & equipment - Loading machine

quantity

:

1.00 unit(s)

leasing:

-

Other tools & equipment - Car

quantity

:

8.00 unit(s)

-

Other tools & equipment - Transport vehicle

quantity

:

1.00 unit(s)

Branches

:

-

Shop (Tallinn, Harju county, Estonia)

name

:

RAAMATUTE OUTLET

address

:

Liivalaia tn 28, Tallinn, Harju county, Estonia

-

Shop (Tallinn, Harju county, Estonia)

name

:

TEA Keeltekooli VÄIKE RAAMATUPOOD

address

:

A. H. Tammsaare tee 47, Tallinn, Harju county, Estonia

-

Shop (Tallinn, Harju county, Estonia)

name

:

TEA Kirjastuse ESINDUSPOOD

address

:

Parnu mnt.142, Tondi Business Centre 1 floor, Tallinn, Harju county, 11317, Estonia

-

Shop (Rakvere, Laane-Viru county, Estonia)

name

:

TEA Kirjastuse RAAMATUPOOD Rakveres

address

:

Laada tn 16, Turu Department store 2 floor, Rakvere, Laane-Viru county, Estonia

-

Shop (Tallinn, Harju county, Estonia)

name

:

TEA Kirjastuse VÄIKE RAAMATUPOOD

address

:

Paavli 1 / Kopli 33, 2 floor, Tallinn, Harju county, 10412, Estonia

-

Warehouse (Tallinn, Harju county, Estonia)

address

:

Liivalaia tn 28, Tallinn, Harju county, Estonia

Subsidiaries and Participation

:

-

Keelevara (Estonia)

26.00 %

share's book value

:

665 EUR

reg. number

:

11026787

address

:

Roosikrantsi 6, Tallinn, Harju county, 10119, Estonia

( the data as of 31.12.2011 )

Bankers

:

-

Nordea Bank Finland PLC (Finland)

address

:

Aleksanterinkatu 36, Nordea, 00020, Finland

reg. number

:

1680235-8

-

Nordea Bank Finland PLC Eesti Filiaal (Estonia)

address

:

Hobujaama 4, Tallinn, Harju county, 15068, Estonia

reg. number

:

10221469

bank code

:

820

account(s)

:

17001796607

-

SEB Pank (Estonia)

address

:

Tornimae 2, Tallinn, Harju county, 15010, Estonia

reg. number

:

10004252

bank code

:

401

account(s)

:

10220012437017

-

Swedbank (Estonia)

address

:

Liivalaia 8, Tallinn, Harju county, 15040, Estonia

reg. number

:

10060701

bank code

:

767

account(s)

:

221001119410

Clients

:

-

Apollo Raamatud (Estonia)

address

:

Peterburi road 64a, Tallinn, Harju county, 11415, Estonia

reg. number

:

10470913

-

Koduekstra (Estonia)

address

:

Parnu road 356, Tallinn, Harju county, 11612, Estonia

reg. number

:

10328204

-

OG Elektra (Estonia)

address

:

Vilde 6a, Rakvere, Laane-Viru county, 44310, Estonia

reg. number

:

10054238

-

Rahva Raamat (Estonia)

address

:

Peterburi road 92E, Tallinn, Harju county, 11415, Estonia

reg. number

:

10421903

-

Tallinna Raamatutrukikoja (Estonia)

address

:

Laki 26, Tallinn, Harju county, 12915, Estonia

reg. number

:

10224203

Suppliers

:

-

Ajanta Offset & Packagings Limited (India)

-

Berlitz

-

GREIF

-

Gyldendal

-

K-Dictionaries

-

K-Print (Estonia)

address

:

Kopli 25, Tallinn, Harju county, 10412, Estonia

reg. number

:

10459544

-

Larousse

-

Mark (Estonia)

address

:

Niine 11, Tallinn, Harju county, 10414, Estonia

reg. number

:

10111077

-

Nathan

-

Preses nams Baltic (Latvia)

address

:

Jansili-503, Silakrogs, Rigas region, Ropazu novads, LV 2133, Latvia

reg. number

:

40103219845

-

Tallinna Raamatutrukikoja (Estonia)

address

:

Laki 26, Tallinn, Harju county, 12915, Estonia

reg. number

:

10224203

-

Weldon Owen

Other associated Companies

:

-

Tea Keeleopetus (Estonia)

address

:

Liivalaia 28, Tallinn, Harju county, 10118, Estonia

reg. number

:

10305717

Litigation

:

According to official sources, the company has participated in 9 court hearings since 30.04.2007 till 02.10.2012. Most of them are associated with claims against the Ministry of Culture and the Tax and Customs Department.

Remarks on payment

- 16.05.2013

:

Tax arrears (confirmed)

120 390.00 EUR

penalty

:

7 861.00 EUR

91 849 EUR of the debt is paid according to the payment schedule.

( the data as of 16.05.2013 )

- 16.02.2012

:

Debt collection (confirmed)

2 910.30 EUR

payment status

:

complete

( the data as of 16.02.2012, cancelled since 17.05.2012 )

- 28.06.2011

:

Local databases (confirmed)

640.00 EUR [E]

payment status

:

complete

Creditor: SCHENKER AS

( the data as of 28.06.2011, cancelled since 14.09.2011 )

- 23.06.2010

:

Local databases (confirmed)

69 830.00 EUR [E]

payment status

:

complete

Sector: leasing

( the data as of 23.06.2010, cancelled since 25.10.2012 )

- 13.09.2005

:

Local databases (confirmed)

65.00 EUR [E]

payment status

:

complete

Creditor: JULIANUS INKASSO OÜ returned

( the data as of 13.09.2005, cancelled since 24.10.2006 )

Debts to Estonian government: 01.06.2014 (*) 182 885 01.05.2014 (*) 163 925 01.04.2014 (*) 168 401 01.03.2014 (*) 138 823 01.02.2014 (*) 138 140 01.01.2014 (*) 126 056 01.12.2013 (*) 127 264 01.11.2013 (*) 120 652 01.10.2013 (*) 112 404 01.09.2013 (*) 113 436 01.08.2013 (*) 114 936 01.07.2013 (*) 96 982 01.06.2013 (*) 97 100 01.05.2013 (*) 99 849 01.04.2013 (*) 107 849 01.03.2013 (*) 121 641 01.02.2013 (*) 129 441 01.01.2013 (*) 136 641 01.12.2012 (*) 138 641 01.11.2012 (*) 140 641 01.10.2012 (*) 142 713 01.09.2012 135 062 01.08.2012 93 168 01.07.2012 51 745 01.06.2012 30 063 01.05.2012 2 982 01.04.2012 6 066 01.03.2012 26 953 01.01.2012 37 437 01.12.2011 (*) 14 518 01.11.2011 (*) 14 452 01.10.2011 (*) 15 627 01.09.2011 (*) 20 984 01.08.2011 (*) 26 045 01.07.2011 (*) 31 254 01.06.2011 79 891 01.05.2011 76 280 01.04.2011 50 769 01.03.2011 69 082 01.02.2011 (*) 49 920 01.01.2011 (*) 60 587 Other debts: Yes. 3 debts registered, 3 are paid off. Yes. 1 debt registered, it's paid off.

Business mortgages

- 28.09.2012

:

Commercial pledge

185 000 EUR

pledgee

:

Republic of Estonia

( the data as of 16.05.2013 )

- 21.03.2012

:

Commercial pledge

250 000 EUR

pledgee

:

Greif (Estonia)
reg. number: 10084831
address: Vallikraavi 4, Tartu, Tartu county, 51003, Estonia

( the data as of 16.05.2013 )

- 29.12.2009

:

Commercial pledge

4 000 000 EEK

pledgee

:

Nordea Bank Finland PLC (Finland)
reg. number: 1680235-8
address: Aleksanterinkatu 36, Nordea, 00020, Finland

( the data as of 16.05.2013 )

- 22.12.2009

:

Commercial pledge

4 200 000 EEK

pledgee

:

Nordea Bank Finland PLC (Finland)
reg. number: 1680235-8
address: Aleksanterinkatu 36, Nordea, 00020, Finland

( the data as of 16.05.2013 )

- 06.11.2008

:

Commercial pledge

5 000 000 EEK

pledgee

:

Nordea Bank Finland PLC (Finland)
reg. number: 1680235-8
address: Aleksanterinkatu 36, Nordea, 00020, Finland

( the data as of 16.05.2013 )

- 14.07.1998

:

Commercial pledge

1 100 000 EEK

pledgee

:

Nordea Bank Finland PLC (Finland)
reg. number: 1680235-8
address: Aleksanterinkatu 36, Nordea, 00020, Finland

( the data as of 16.05.2013 )

 

Financial Elements      

 

Period, months

12

12

12

Ended

31.12.2012

31.12.2011

31.12.2010

Currency

EUR

EUR

EUR

===== BALANCE SHEET ====================

 

  --- A S S E T S --------------------

 

NON-CURRENT ASSETS

- Intangible assets

710 285.00

722 537.00

0.00

- Fixed assets

98 195.00

64 728.00

112 178.00

- Investments in tangible assets

135 000.00

461 082.00

461 082.00

- Financial assets

920.00

445.00

1 890.00

- Other non-current assets

Non-current assets total

944 400.00

1 248 792.00

575 150.00

 

CURRENT ASSETS

- Stock

1 972 273.00

2 063 233.00

2 488 535.00

- Debtors

42 145.00

148 306.00

388 939.00

- Other receivables

- Short-term financial investments

- Cash

1 840.00

1 420.00

14 305.00

- Other current assets

Current assets total

2 016 258.00

2 212 959.00

2 891 779.00

 

Assets total

2 960 658.00

3 461 751.00

3 466 929.00

 

  --- EQUITY AND LIABILITIES ---------

 

CAPITAL AND RESERVES

- Share capital

51 129.00

51 129.00

51 129.00

- Additional capital

- Other capital

- Reserve capital

5 113.00

5 113.00

5 113.00

- Retained earnings (Non-covered loss)

743 853.00

609 746.00

530 679.00

Capital and reserves total

800 095.00

665 988.00

586 921.00

 

Provisions

 

LONG-TERM LIABILITIES

- Loans and credits

561 619.00

738 523.00

834 718.00

  - long-term amounts owed to banks

- Other long-term liabilities

Long-term liabilities total

561 619.00

738 523.00

834 718.00

 

SHORT-TERM LIABILITIES

- Loans and credits

249 548.00

210 012.00

167 564.00

  - short-term amounts owed to banks

- Creditors

1 349 396.00

1 847 228.00

1 877 726.00

  - trade debts

414 454.00

  - accrued payroll

102 267.00

  - tax liabilities

222 498.00

  - other creditors

158 300.00

  - advances received

451 877.00

- Dividends in arrears

- Accrued income, deferred charges

- Other short-term liabilities

Short-term liabilities total

1 598 944.00

2 057 240.00

2 045 290.00

 

Liabilities total

2 160 563.00

2 795 763.00

2 880 008.00

Equity and liabilities total

2 960 658.00

3 461 751.00

3 466 929.00

 

===== PROFIT AND LOSS ACCOUNT ==========

 

ORDINARY ACTIVITY INCOME AND CHARGES

Net sales

3 079 288.00

3 579 739.00

3 566 914.00

Cost of goods sold

914 230.00

-1 344 612.00

-780 662.00

Gross profit

Distribution costs

953 882.00

-948 450.00

-1 454 955.00

Administrative and management costs

Profit on sales

 

OPERATING INCOME AND CHARGES

Interest receivable

Interest payable

Income from participating interests

Other operating income

8 456.00

4 762.00

33 628.00

Other operating charges

1 062 384.00

-1 172 792.00

-1 302 823.00

Operating profit

 

INVESTMENT INCOME AND CHARGES

Investment income less charges

-23 141.00

-39 580.00

-29 476.00

 

Profit before taxation

134 107.00

79 067.00

32 626.00

Income-tax and other similar payments

0.00

-510.00

Profit (loss) from ordinary activity

Extraordinary income less charges

Net profit

134 107.00

79 067.00

32 116.00

 

- - - - - - - KEY RATIOS - - - - - - -

Return on sales, %

4.36

2.21

0.91

  Profit before taxation / Net sales

Operating margin of profit, %

  Operating profit / Net sales

Return on investment, %

16.76

11.87

5.56

  Profit before taxation / Equity

Current assets turnover

1.53

1.62

1.23

  Net sales / Current assets

Working capital

417 314.00

155 719.00

846 489.00

  Current assets - Short-term liabilities

Leverage

0.27

0.19

0.17

  Equity / Total assets

Current ratio

1.26

1.08

1.41

  Current assets / Short-term liabilities

Quick ratio

0.03

0.07

0.20

  (Current assets - Stock) / Short-term liabilities

Debt-to-equity ratio

2.70

4.20

4.91

  Total liabilities / Equity

Publications

- 26.02.2014

:

Subject

:

http://arileht.delfi.ee/news/uudised/tea-kirjastus-sattus-julianus-inkasso-nimekirja.d?id=68107655

Julianus collection agencies are involved in list TEA Publishing,according to the owner of the company Silva Tomingas are disputed debt collection company of interest. "I'm not saying that we have been in a position innocence. It is inappropriate that they have put us on that list. We do not have any tax debt, but rather an interest," she said. Tomingas noted that the list of tax debtors affect their reputation. "We have a liquidity problem, I admit it. Had we been on that list two months ago, it would have been justified. Currently, it is not justified," she said. Julianus Collection LLC Ülar Maapalu Chairman said that a Tea Kirjastus some of their outstanding obligations to other clients, and a protracted promise. Know the Publishing House has tax arrears of tax and customs administration, with effect from August of last year, other days it amounted to almost 140,000 euros. Translation was made by google translator.

FINAL COMMENTS

The information given in this report was received from all accessible sources. We called by the tel. number: +372 6161022, +372 6161020 17.06.2014 The person contacted told us that she is not authorised and asked us to sent our questionnaire form to the company by an email: merike.leppin@tea.eu  If further information is received, we will update the report.

Registration History

- date n/a

:

Other Code

:

01035681

Registr. authority

:

Entrepreneur register (Estonia)

Capital History

- 26.07.1999

:

400 000 EEK (registered)

( the data as of 26.07.1999, cancelled since 05.01.2001 )

- 17.09.1998

:

300 000 EEK (registered)

( the data as of 17.09.1998, cancelled since 26.07.1999 )

- 09.03.1998

:

140 000 EEK (registered)

( the data as of 09.03.1998, cancelled since 17.09.1998 )

APPENDIX A

Financial Statements

Period, months

12

12

12

Ended

31.12.2012

31.12.2011

31.12.2010

Currency

EUR

EUR

EUR

BALANCE SHEET

A S S E T S

CURRENT ASSETS

1.     CASH IN BANK AND IN HAND

1 840.00

2. SHORT-TERM FINANCIAL INVESTMENTS

3. RECEIVABLES AND PREPAYMENTS

3.1 Customer receivables

3.2. Prepaid and deferred taxes

3.3. Other short-term receivables

42 145.00

3.4. Prepaid services

3. RECEIVABLES AND PREPAYMENTS TOTAL

42 145.00

4. INVENTORIES

4.1     Raw materials

4.2    Work in progress

894 912.00

4.3     Finished goods

1 077 361.00

4.4     Goods for resale

4.5     Prepayments for inventories

4. INVENTORIES TOTAL

1 972 273.00

5. BIOLOGICAL ASSETS

6. NON-CURRENT ASSETS HELD FOR SALE

TOTAL CURRENT ASSETS

2 016 258.00

NON-CURRENT ASSETS

7. LONG-TERM FINANCIAL INVESTMENTS

7.1     Shares in subsidiary companies

7.2    Shares in associates

920.00

7.3     Other shares and securities

7.4     Long-term accounts receivable

7. LONG-TERM FINANCIAL INVESTMENTS TOTAL

920.00

8. INVESTMENT PROPERTIES

135 000.00

9. TANGIBLE ASSETS

9.1. Land

2 703.00

9.2. Buildings

194 588.00

9.3. Machinery and equipment

60 131.00

9.4. Other tangible assets

14 453.00

9.5. Construction-in-progress and prepayments for

tangible assets

9.6.  Accumulated depreciation (-)

173 680.00

9. TANGIBLE ASSETS TOTAL

98 195.00

10. BIOLOGICAL ASSETS

11. INTANGIBLE ASSETS

11.1. Goodwill

11.2. Development costs

710 285.00

11.3. Other intangible assets

11.4. Prepayments for intangible assets

11. INTANGIBLE ASSETS TOTAL

710 285.00

NON-CURRENT ASSETS TOTAL

944 400.00

TOTAL ASSETS

2 960 658.00

SHORT-TERM LIABILITIES

12. LOAN LIABILITIES

12.1. Short-term loans and notes

249 548.00

12.2. Current portion of long-term debt

12.3. Convertible debts

12. LOAN LIABILITIES TOTAL

249 548.00

13. DEBTS AND PAYABLES

13.1. Supplier payables

414 454.00

13.2. Employee-related liabilities

102 267.00

13.3. Taxes payable

222 498.00

13.4. Other debts

158 300.00

13.5. Prepayments received

451 877.00

13. DEBTS AND PAYABLES TOTAL

1 349 396.00

14. SHORT-TERM PROVISIONS

15. TARGETED FINANCING

SHORT-TERM LIABILITIES TOTAL

1 598 944.00

LONG-TERM LIABILITIES

16. LONG-TERM LOAN LIABILITIES

16.1. Loans, notes and financial lease payables

561 619.00

16.2. Covertible debts

16. LONG-TERM LOAN LIABILITIES TOTAL

561 619.00

17. OTHER LONG-TERM DEBTS

18. LONG-TERM PROVISIONS

19. TARGETED FINANCING

LONG-TERM LIABILITIES TOTAL

561 619.00

LIABILITIES TOTAL

2 160 563.00

20. SHARE CAPITAL

51 129.00

20.a. OTHER CAPITAL

21. UNREGISTERED SHARE CAPITAL

22. SHARE PREMIUM

23. LESS TREASURY SHARES

24. Statutory legal reserve

5 113.00

25. Other reserves

26. RETAINED EARNINGS

609 746.00

27. NET PROFIT/ LOSS FOR FINANCIAL YEAR

134 107.00

EQUITY TOTAL

800 095.00

EQUITY AND LIABILITIES TOTAL

2 960 658.00

INCOME STATEMENT format 1 or 2

1. NET SALES        format 1

3 079 288.00

2. Other income

8 456.00

3. Change in inventories of agricultural goods

4. Profit (loss) on biological inventories

5. Changes in inventories of finished goods and work in

progress

6. Work performed by the undertaking for its own purpose

and  capital

7. Goods, raw materials and services

914 230.00

8. Other operating expenses

720 673.00

9. STAFF COSTS

9.a. Wages and salaries

698 017.00

9.b. Social security costs

246 232.00

9.c. Pension expenses

9 633.00

9. STAFF COSTS TOTAL

953 882.00

10. Depreciation and impairment of fixed assets

148 280.00

11. Other expenses

193 431.00

1. NET SALES      format 2

2. Change in inventories of agricultural goods

3. Profit (loss) on biological inventories

4. Cost of sales

GROSS  PROFIT (LOSS)

5. Marketing expenses

6. Administration and general expenses

7. Other income

8. Other expenses

OPERATING  PROFIT (LOSS)

157 248.00

12. FINANCIAL INCOME AND EXPENSES

12.a. Financial income and expenses from shares in subsidiaries

12.b. Financial income and expenses from shares in associates

12.c. Financial income and expenses from long-term

financial investments

12.d. Interest expense

12.e. Profit (loss) on converting of foreign currencies

12.f. Other financial income and expenses

-23 141.00

12. TOTAL FINANCIAL INCOME AND EXPENSES

-23 141.00

PROFIT(LOSS) ON ORDINARY ACTIVITIES

134 107.00

13. Income tax expense

NET  PROFIT (LOSS) FOR FINANCIAL YEAR

134 107.00

- 31.12.2011

:

Fiscal period: 12 month(s), currency: EUR

BALANCE SHEET

A S S E T S

CURRENT ASSETS

1.     CASH IN BANK AND IN HAND

1 420.00

2. SHORT-TERM FINANCIAL INVESTMENTS

3. RECEIVABLES AND PREPAYMENTS

3.1 Customer receivables

3.2. Prepaid and deferred taxes

3.3. Other short-term receivables

3.4. Prepaid services

3. RECEIVABLES AND PREPAYMENTS TOTAL

148 306.00

4. INVENTORIES

4.1     Raw materials

4.2    Work in progress

4.3     Finished goods

4.4     Goods for resale

4.5     Prepayments for inventories

4. INVENTORIES TOTAL

2 063 233.00

5. BIOLOGICAL ASSETS

6. NON-CURRENT ASSETS HELD FOR SALE

TOTAL CURRENT ASSETS

2 212 959.00

NON-CURRENT ASSETS

7. LONG-TERM FINANCIAL INVESTMENTS

7.1     Shares in subsidiary companies

7.2    Shares in associates

7.3     Other shares and securities

7.4     Long-term accounts receivable

7. LONG-TERM FINANCIAL INVESTMENTS TOTAL

445.00

8. INVESTMENT PROPERTIES

461 082.00

9. TANGIBLE ASSETS

9.1. Land

9.2. Buildings

9.3. Machinery and equipment

9.4. Other tangible assets

9.5. Construction-in-progress and prepayments for

tangible assets

9. TANGIBLE ASSETS TOTAL

64 728.00

10. BIOLOGICAL ASSETS

11. INTANGIBLE ASSETS

11.1. Goodwill

11.2. Development costs

11.3. Other intangible assets

11.4. Prepayments for intangible assets

11. INTANGIBLE ASSETS TOTAL

722 537.00

NON-CURRENT ASSETS TOTAL

1 248 792.00

TOTAL ASSETS

3 461 751.00

SHORT-TERM LIABILITIES

12. LOAN LIABILITIES

12.1. Short-term loans and notes

12.2. Current portion of long-term debt

12.3. Convertible debts

12. LOAN LIABILITIES TOTAL

210 012.00

13. DEBTS AND PAYABLES

13.1. Supplier payables

13.2. Employee-related liabilities

13.3. Taxes payable

13.4. Other debts

13.5. Prepayments received

13. DEBTS AND PAYABLES TOTAL

1 847 228.00

14. SHORT-TERM PROVISIONS

15. TARGETED FINANCING

SHORT-TERM LIABILITIES TOTAL

2 057 240.00

LONG-TERM LIABILITIES

16. LONG-TERM LOAN LIABILITIES

16.1. Loans, notes and financial lease payables

16.2. Covertible debts

16. LONG-TERM LOAN LIABILITIES TOTAL

738 523.00

17. OTHER LONG-TERM DEBTS

18. LONG-TERM PROVISIONS

19. TARGETED FINANCING

LONG-TERM LIABILITIES TOTAL

738 523.00

LIABILITIES TOTAL

2 795 763.00

20. SHARE CAPITAL

51 129.00

20.a. OTHER CAPITAL

21. UNREGISTERED SHARE CAPITAL

22. SHARE PREMIUM

23. LESS TREASURY SHARES

24. Statutory legal reserve

5 113.00

25. Other reserves

26. RETAINED EARNINGS

530 679.00

27. NET PROFIT/ LOSS FOR FINANCIAL YEAR

79 067.00

EQUITY TOTAL

665 988.00

EQUITY AND LIABILITIES TOTAL

3 461 751.00

INCOME STATEMENT format 1 or 2

1. NET SALES        format 1

3 579 739.00

2. Other income

4 762.00

3. Change in inventories of agricultural goods

4. Profit (loss) on biological inventories

5. Changes in inventories of finished goods and work in

progress

6. Work performed by the undertaking for its own purpose

and  capital

7. Goods, raw materials and services

-1 344 612.00

8. Other operating expenses

-1 005 215.00

9. STAFF COSTS

9.a. Wages and salaries

9.b. Social security costs

9.c. Pension expenses

9. STAFF COSTS TOTAL

-948 450.00

10. Depreciation and impairment of fixed assets

-47 666.00

11. Other expenses

-119 911.00

1. NET SALES      format 2

2. Change in inventories of agricultural goods

3. Profit (loss) on biological inventories

4. Cost of sales

GROSS  PROFIT (LOSS)

5. Marketing expenses

6. Administration and general expenses

7. Other income

8. Other expenses

OPERATING  PROFIT (LOSS)

118 647.00

12. FINANCIAL INCOME AND EXPENSES

12.a. Financial income and expenses from shares in subsidiaries

12.b. Financial income and expenses from shares in associates

12.c. Financial income and expenses from long-term

financial investments

12.d. Interest expense

12.e. Profit (loss) on translation of foreign currencies

12.f. Other financial income and expenses

12. TOTAL FINANCIAL INCOME AND EXPENSES

-39 580.00

PROFIT(LOSS) ON ORDINARY ACTIVITIES

79 067.00

13. Income tax expense

0.00

NET  PROFIT (LOSS) FOR FINANCIAL YEAR

79 067.00

- 31.12.2010

:

Fiscal period: 12 month(s), currency: EUR

BALANCE SHEET

A S S E T S

CURRENT ASSETS

1.     CASH IN BANK AND IN HAND

14 305.00

2. SHORT-TERM FINANCIAL INVESTMENTS

3. RECEIVABLES AND PREPAYMENTS

3.1 Customer receivables

3.2. Prepaid and deferred taxes

3.3. Other short-term receivables

3.4. Prepaid services

3. RECEIVABLES AND PREPAYMENTS TOTAL

388 939.00

4. INVENTORIES

4.1     Raw materials

4.2    Work in progress

4.3     Finished goods

4.4     Goods for resale

4.5     Prepayments for inventories

4. INVENTORIES TOTAL

2 488 535.00

5. BIOLOGICAL ASSETS

6. NON-CURRENT ASSETS HELD FOR SALE

TOTAL CURRENT ASSETS

2 891 779.00

NON-CURRENT ASSETS

7. LONG-TERM FINANCIAL INVESTMENTS

7.1     Shares in subsidiary companies

7.2    Shares in associates

7.3     Other shares and securities

7.4     Long-term accounts receivable

7. LONG-TERM FINANCIAL INVESTMENTS TOTAL

1 890.00

8. INVESTMENT PROPERTIES

461 082.00

9. TANGIBLE ASSETS

9.1. Land

9.2. Buildings

9.3. Machinery and equipment

9.4. Other tangible assets

9.5. Construction-in-progress and prepayments for

tangible assets

9. TANGIBLE ASSETS TOTAL

112 178.00

10. BIOLOGICAL ASSETS

11. INTANGIBLE ASSETS

11.1. Goodwill

11.2. Development costs

11.3. Other intangible assets

11.4. Prepayments for intangible assets

11. INTANGIBLE ASSETS TOTAL

0.00

NON-CURRENT ASSETS TOTAL

575 150.00

TOTAL ASSETS

3 466 929.00

SHORT-TERM LIABILITIES

12. LOAN LIABILITIES

12.1. Short-term loans and notes

12.2. Current portion of long-term debt

12.3. Convertible debts

12. LOAN LIABILITIES TOTAL

167 564.00

13. DEBTS AND PAYABLES

13.1. Supplier payables

13.2. Employee-related liabilities

13.3. Taxes payable

13.4. Other debts

13.5. Prepayments received

13. DEBTS AND PAYABLES TOTAL

1 877 726.00

14. SHORT-TERM PROVISIONS

15. TARGETED FINANCING

SHORT-TERM LIABILITIES TOTAL

2 045 290.00

LONG-TERM LIABILITIES

16. LONG-TERM LOAN LIABILITIES

16.1. Loans, notes and financial lease payables

16.2. Covertible debts

16. LONG-TERM LOAN LIABILITIES TOTAL

834 718.00

17. OTHER LONG-TERM DEBTS

18. LONG-TERM PROVISIONS

19. TARGETED FINANCING

LONG-TERM LIABILITIES TOTAL

834 718.00

LIABILITIES TOTAL

2 880 008.00

20. SHARE CAPITAL

51 129.00

20.a. OTHER CAPITAL

21. UNREGISTERED SHARE CAPITAL

22. SHARE PREMIUM

23. LESS TREASURY SHARES

24. Statutory legal reserve

5 113.00

25. Other reserves

26. RETAINED EARNINGS

498 563.00

27. NET PROFIT/ LOSS FOR FINANCIAL YEAR

32 116.00

EQUITY TOTAL

586 921.00

EQUITY AND LIABILITIES TOTAL

3 466 929.00

INCOME STATEMENT format 1 or 2

1. NET SALES        format 1

3 566 914.00

2. Other income

33 628.00

3. Change in inventories of agricultural goods

4. Profit (loss) on biological inventories

5. Changes in inventories of finished goods and work in

progress

6. Work performed by the undertaking for its own purpose

and  capital

7. Goods, raw materials and services

-780 662.00

8. Other operating expenses

-1 215 815.00

9. STAFF COSTS

9.a. Wages and salaries

9.b. Social security costs

9.c. Pension expenses

9. STAFF COSTS TOTAL

-1 454 955.00

10. Depreciation and impairment of fixed assets

-46 793.00

11. Other expenses

-40 215.00

1. NET SALES      format 2

2. Change in inventories of agricultural goods

3. Profit (loss) on biological inventories

4. Cost of sales

GROSS  PROFIT (LOSS)

5. Marketing expenses

6. Administration and general expenses

7. Other income

8. Other expenses

OPERATING  PROFIT (LOSS)

62 102.00

12. FINANCIAL INCOME AND EXPENSES

12.a. Financial income and expenses from shares in subsidiaries

12.b. Financial income and expenses from shares in associates

12.c. Financial income and expenses from long-term

financial investments

12.d. Interest expense

12.e. Profit (loss) on translation of foreign currencies

12.f. Other financial income and expenses

12. TOTAL FINANCIAL INCOME AND EXPENSES

-29 476.00

PROFIT(LOSS) ON ORDINARY ACTIVITIES

32 626.00

13. Income tax expense

-510.00

NET  PROFIT (LOSS) FOR FINANCIAL YEAR

32 116.00


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.60.37

UK Pound

1

Rs.102.48

Euro

1

Rs.81.87

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.