MIRA INFORM REPORT

Report Date :

20.06.2014

IDENTIFICATION DETAILS

Name :	BRANCHER KINGSWOOD
Registered Office :	Parc D'activite Du Saule, 28170 Tremblay Les Villages
Country :	France
Financials (as on) :	31.12.2012
Date of Incorporation :	June 2012
Com. Reg. No.:	RCS Chartres 1 751 974 791
Legal Form :	Simplified Joint Stock Company with Single Associate
Line of Business :	Manufacturer of Paints, Varnishes, Printing Ink and Mastics
No of Employees :	88 (31.12.2012)

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 :	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)
France	A1	A1

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

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 82 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 mitigate economic inequality. France's real GDP stagnated in 2012 and 2013. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.2% in 2013. Youth unemployment in metropolitan France decreased from a high of 25.4% in the fourth quarter of 2012 to 22.8% in the fourth quarter of 2013. Lower-than-expected growth and high spending have strained France's public finances. The budget deficit rose sharply from 3.3% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.1% of GDP in 2013, while France's public debt rose from 68% of GDP to nearly 94% over the same period. In accordance with its EU obligations, France is targeting a deficit of 3.6% of GDP in 2014 and 2.8% in 2015. The administration of President Francois HOLLANDE has implemented greater state support for employment, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, including a temporary 75% tax on wages over one million euros, and hiring an additional 60,000 teachers during his five-year term. In January 2014 HOLLANDE proposed a “Responsibility Pact” aimed primarily at lowering labor costs in return for businesses’ commitment to create jobs. Despite stagnant growth and fiscal challenges, France's borrowing costs have declined in recent years because investors remain attracted to the liquidity of France’s bonds.

Source : CIA

company summary

Top of Form

Name

BRANCHER KINGSWOOD

SIRET

751 974 791 00020

		EUR VAT Number	FR41751974791
Activity (APE)	Manufacturer of Paints, Varnishes, Printing Ink and Mastics	Legal form	Simplified Joint Stock Company with Single Associate
Phone	02 37 38 91 00	RCS Registration	RCS Chartres 1 751 974 791
Fax		Share capital	2,000,000 Euros
Address	BRANCHER KINGSWOOD PARC D'ACTIVITE DU SAULE 28170 TREMBLAY LES VILLAGES	Incorporated Date	06/2012
Nationality	France	Status	Economically active

Payment Information Summary - Trade Payment Data
Total number of Invoices available	1
Total number of Invoices paid within or up to 30 days after the due date	1
Total number of Invoices paid more than 30 days after the due date	0
Total number of Invoices currently outstanding where the due date has not yet been reached	0
Total number of Invoices currently outstanding beyond the due date	0

Last published preferential right	This company is not under monitoring
Collection of preferential rights impossible on this company

Ultimate Holding Company
Company Name	Company number
SUZHOU KINGSWOOD PRINTING INKS	-

Current Directors

1

Trading to Date	12/31/2012
Turnover	7,403,388 €
Gross Operating Surplus	8.23 % Turnover
Shareholders’ equity	2,174,406 €
Net result	174,406 €
Employees	88 (31.12.2012)

No trends info for the company

company details

Activity (APE)	Manufacturer of Paints, Varnishes, Printing Ink and Mastics
RCS Registration	RCS Chartres 1 751 974 791	Share capital	2,000,000 Euros
Registration Court	Chartres (28)	Legal form	Simplified Joint Stock Company with Single Associate
Court Registry Number	20 1 2B00475	EUR VAT Number	FR41751974791
Incorporation Date	06/2012	Formation Date	06/2012
Deregistration Date		Last account Date	31/12/2012
Nationality	France

Establishment details

Activity (APE)	Manufacturer of Paints, Varnishes, Printing Ink and Mastics	Business Pages FT®	MATERIEL ET FOURNITURES POUR IMPRIMERIE, INDUSTRIES GRAPHIQUES
Postal Address	BRANCHER KINGSWOOD PARC D'ACTIVITE DU SAULE 28170 TREMBLAY LES VILLAGES	Trading Address	PARC D'ACTIVITE DU SAULE 28170 TREMBLAY LES VILLAGES
Telephone	02 37 38 91 00
Fax

Type	Head office	Status	Economically active
Formation Date	06/2012	Reason for formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	Manufacture, production	Activity Location	Office
Location surface		Seasonality

Department		Region	Centre
District		Area
City	TREMBLAY LES VILLAGES	Size of urban area

Other establishments

Branches	4 branch entities in this company
Head office	> BRANCHER KINGSWOOD <<< - Fabrication de peintures, vernis, encres et mastics (2030Z) in TREMBLAY LES VILLAGES (28170)
Secondary establishments	> BRANCHER KINGSWOOD - Fabrication de peintures, vernis, encres et mastics (2030Z) in ANGOULEME (16000) > BRANCHER KINGSWOOD - Fabrication de peintures, vernis, encres et mastics (2030Z) in THOUARE SUR LOIRE (44470) > BRANCHER KINGSWOOD - Fabrication de peintures, vernis, encres et mastics (2030Z) in PARIS 17 (75017) > BRANCHER KINGSWOOD - Fabrication de peintures, vernis, encres et mastics (2030Z) in CHASSIEU (69680)

Workforces

Workforce at address

88 (31.12.2012)

Company workforce

88 (31.12.2012)

accounts

Active Account | Passive Account | Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2012
Account period (month)	07
Account Type	Normal
Date of capture	16/05/2013
Activity Code	2030Z
Employees	88	-	-

Active account

Annual Accounts	31/12/2012	Sector Median2012
Capital not called	0	0	0%
Total fixed assets	2,733,850	255,363	970.6%
- Intangible assets	202,555	23,254	771.1%
- Tangible assets	2,515,699	136,817	1738.7%
- Financial assets	25,230	6,000	320.5%
Net current assets	6,419,381	1,420,242	352.0%
- Stocks	3,585,841	463,199	674.1%
- Advanced payments	0	0	0%
- Receivables	1,285,845	591,778	117.3%
- Securities and cash	1,547,695	113,115	1268.2%
- Prepaid expenses	-	877.50	-
Accounts of regularization	0	0	0%
Total Assets	9,153,232	1,750,191	423.0%

Passive Account

Annual Accounts	31/12/2012	Sector Median2012
Shareholders' equity	2,174,406	660,847	229.0%
Share capital	2,000,000	229,344	772.1%
Other capital resources	0	0	0%
Risk Provisions	189,758	762	24802.6%
Liabilities	6,789,067	898,709	655.4%
- Financial liabilities	4,565,008	153,170	2880.4%
- Advanced payments received	3,496	0	0%
- Trade account payables	1,173,345	340,820	244.3%
- Tax and social liabilities	904,904	200,269	351.8%
- Other debts and fixed assets liabilities	142,314	34,869	308.1%
Account regularization	0	0	0%
Total liabilities	9,153,232	1,818,629	403.3%

Results

Annual Accounts	31/12/2012	Sector Median2012
Sales of Goods	9,100,704	2,687,475	238.6%
Net turnover	7,403,388	2,638,078	180.6%
- of which net export turnover	2,469,423	11,083	22181.2%
Operating charges	8,852,814	2,522,060	251.0%
Operating profit/loss	247,890	57,036	334.6%
Financial income	5,933	1,890	213.9%
Financial charges	105,403	11,566	811.3%
Financial profit/loss	-99,470	-3,409	-2817.9%
Pretax net operating income	148,420	50,881	191.7%
Extraordinary income	0	8,184	0%
Extraordinary charges	0	10,468	0%
Extraordinary profit/loss	0	0	0%
Net result	174,406	48,824	257.2%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2012
Months	07

Accounts - Active
Current Assets | Equalization accounts | Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2012
	Grand Total (I to VI)	Net	9,153,232
	Gross	CO	9,849,719
	Amortisation	1A	696,487

Non declared distributed capital (I)

		31/12/2012
Non declared distributed capital (I)	AA3	0
Gross	AA	0

Active fixed asset (II)

			31/12/2012
	Total Active fixed asset (II)	Net	2,733,850
	Gross	BJ	2,789,025
	Amortisation	BK	55,175

Intangible fixed assets

			31/12/2012
	Start-up cost	Net	108,906
	Gross	AB	108,906
	Amortisation	AC	9,634
	R & D expenses	Net	0
	Gross	CX	0
	Amortisation	AE	0
	Distributorships, patents	Net	18,231
	Gross	AF	24,583
	Amortisation	AG	6,352
	Goodwill	Net	75,418
	Gross	AH	75,418
	Amortisation	AI	0
	Other intangible fixed assets	Net	0
	Gross	AJ	0
	Amortisation	AK	0
	Pre-payments and downpayments	Net	0
	Gross	AL	0
	Amortisation	AM	0
Sub Total Intangible Assets		Net	202,555

Tangible fixed assets

			31/12/2012
	Lands	Net	184,035
	Gross	AN	184,035
	Amortisation	AO	0
	Buildings	Net	2,101,878
	Gross	AP	2,127,077
	Amortisation	AQ	25,199
	Plant	Net	142,322
	Gross	AR	152,278
	Amortisation	AS	9,956
	Other tangible fixed assets	Net	26,063
	Gross	AT	30,097
	Amortisation	AU	4,034
	Fixed assets in construction	Net	61,401
	Gross	AV	61,401
	Amortisation	AW	0
	Advances and payments on account	Net	0
	Gross	AX	0
	Amortisation	AY	0
	Sub Total Tangible asset	Net	2,515,699

Financial assets

			31/12/2012
	Associates at equity	Net	0
	Gross	CS	0
	Amortisation	CT	0
	Other participations	Net	0
	Gross	CU	0
	Amortisation	CV	0
	Inter-company receivables	Net	0
	Gross	BB	0
	Amortisation	BC	0
	Other investment securities	Net	78
	Gross	BD	78
	Amortisation	BE	0
	Loans	Net	0
	Gross	BF	0
	Amortisation	BG	0
	Other financial assets	Net	25,152
	Gross	BH	25,152
	Amortisation	BI	0
	Sub Total Financial Assets		25,230

Current Assets (III)

			31/12/2012
	Total Assets	Net	6,419,381
	Gross	CJ	7,060,694
	Amortisation	CK	641,313

Stocks

			31/12/2012
	Raw materials	Net	1,393,489
	Gross	BL	1,484,747
	Amortisation	BM	91,258
	Work in progress (goods)	Net	0
	Gross	BN	0
	Amortisation	BO	0
	Work in progress (services)	Net	0
	Gross	BP	0
	Amortisation	BQ	0
	Semi-finished and finished products	Net	2,192,352
	Gross	BR	2,280,112
	Amortisation	BS	87,760
	Goods for resale	Net	0
	Gross	BT	0
	Amortisation	BU	0
	Sub Total Stocks	Net	3,585,841

Advance payments to suppliers

			31/12/2012
	Advance payments to suppliers	Net	0
	Gross	BV	0
	Amortisation	BW	0

Debtors

			31/12/2012
	Trade accounts receivable	Net	591,769
	Gross	BX	1,054,064
	Amortisation	BY	462,295
	Other debtors	Net	652,353
	Gross	BZ	652,353
	Amortisation	CA	0
	Capital subscribed and called up	Net	0
	Gross	CB	0
	Amortisation	CC	0
	Sub Total Debtors	Net	1,244,122

Divers

			31/12/2012
	Investment securities	Net	0
	Gross	CD	0
	Amortisation	CE	0
	Cash and cash equivalents	Net	1,547,695
	Gross	CF	1,547,695
	Amortisation	CG	0
	Sub Total Divers	Net	1,547,695

Prepaid expenses

			31/12/2012
	Prepaid expenses	Net	41,723
	Gross	CH	41,723
	Amortisation	CI	0

Equalization accounts (IV to VI)

		31/12/2012
Multi-period charges	CW3	0
Gross		0
Premiums on redemption of bonds	CM3	0
Gross		0
Currency differential gain	CN3	0
Gross		0

References

		31/12/2012
Due within one year	CP	0
Due after one year	CR	0

Display parameter
Currency	Euro	Kilo Euro

Accounts - Passive
Other capital resources | Provisions for risks and charges | Liabilities | Translation loss | Equalization accounts | References

Grand Total - Passive Accounts (I to IV)

		31/12/2012
Grand Total (I to V)	EE	9,153,232

Shareholder Equity (I)

			31/12/2012
	Total shareholders' equity (Total I)	DL	2,174,406
	Equity and shareholders' equity	DA	2,000,000
	Issue and merger premiums	DB	0
	Revaluation differentials	DC	0
	Of which equity differential	EK	0
	Legal reserve	DD	0
	Statutory or contractual reserve	DE	0
	Special regulated reserves	DF	0
	Of which special reserve of provisions for current fluctuation	B1	0
	Other reserves	DG	0
	Of which reserve for buying originals works from alive artists	EJ	0
	Profits or losses brought forward	DH	0
	Profit or loss for the period	DI	174,406
	Investment grants	DJ	0
	Special tax-allowable reserves	DK	0

Other capital resources (II)

			31/12/2012
	Total other capital resources (Total II)	DO	0
	Income from participating securities	DM	0
	Conditional loans	DN	0

Provisions for risks and charges (III)

			31/12/2012
	Total provisions for risks and charges (Total III)	DR	189,758
	Risk provisions	DP	81,892
	Reserves for charges	DQ	107,866

Liabilities (IV)

			31/12/2012
	Total Liabilities (Total IV)	EC	6,789,067
	Convertible debentures	DS	0
	Other debentures	DT	0
	Bank loans and liabilities	DU	1,006,675
	Sundry loans and financial liabilities	DV	3,558,333
	Of which participating loans	EI	0
	Advance payments received for current orders	DW	3,496
	Trade accounts payables	DX	1,173,345
	Tax and social security liabilities	DY	904,904
	Fixed asset liabilities	DZ	0
	Other debts	EA	142,314

Translation loss (V)

		31/12/2012
Translation loss (Total V)	ED	0

Equalization accounts

		31/12/2012
Deferred income	EB	0

References

		31/12/2012
Of which tax-allowable reserve	EF	0
Deferred income and liabilities	EG	0
Of which current bank facilities	EH	0

Display parameter
Currency	Euro	Kilo Euro

Result account
Sales of Goods | Operating charges | Operating charges | Financial income | Financial charges | Financial charges | Extraordinary charges | Employee profit sharing | Tax on profits | References

1- Operating result(I-II)

		31/12/2012
Operating result (Total I-II)	GG	247,890

2 -Financial result(V - VI)

		31/12/2012
Financial result (Total V-VI)	GV	-99,470

3 -Pre-tax net operating income result(I - VI)

		31/12/2012
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	148,420

4 -Extraordinary result(VII-VIII)

		31/12/2012
Extraordinary result (Total VII-VIII)	HI	0

Profit or loss

		31/12/2012
Profit or loss	HN	174,406

Total Income (I+III+V+VII)

		31/12/2012
Total Income (I+III+V+VII)	HL	9,106,637

Total charges (Total II+IV+VI+VIII+IX+X)

		31/12/2012
Total charges (Total II+IV+VI+VIII+IX+X)	HM	8,932,228

Operating income(I)

		31/12/2012
Total operating income (Total I)	FR	9,100,704

Operating income (details)

			31/12/2012
	Sale of goods for resale	FC	116,252
	France	FA	67,811
	Export	FB	48,441
	Sale of goods produced	FF	7,237,861
	France	FD	4,854,913
	Export	FE	2,382,948
	Sale of services	FI	49,275
	France	FG	11,241
	Export	FH	38,034
	Net turnover	FL	7,403,388
	France	FJ	4,933,965
	Export	FK	2,469,423
	Stocked production	FM	1,620,812
	Self-constructed assets	FN	0
	Operating grants	FO	0
	Release of reserves and provisions	FP	70,696
	Other income	FQ	5,808

Operating charges(II)

		31/12/2012
Total operating charges (Total II)	GF	8,852,814

Exploitation charges

		31/12/2012
Purchase of goods for resale	FS	172,084
Change in stocks of goods for resale	FT	34,218
Purchase of raw materials	FU	4,732,511
Change in stocks of raw materials	FV	-1,178,265
Other external purchases and charges	FW	1,847,518
Tax, duty and similar payments	FX	87,149
Payroll	FY	1,837,119
Social security costs	FZ	882,814

Depreciation

		31/12/2012
Depreciation of fixed assets	GA	55,174
Amortisation of fixed assets	GB	0
Depreciation/amortisation of current assets	GC	192,713
Provisions for risks and charges	GD	189,758

Other charges

		31/12/2012
Other charges	GE	21

Operating charges (III-IV)

		31/12/2012
Share of joint-venture transferred to other partner(s) (Total III)	GH	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0

Financial income(V)

			31/12/2012
	Total financial income (Total V)	GP	5,933
	Share financial income	GJ	0
	Other investment income & capitalised receivables	GK	0
	Other interest and similar income	GL	1,227
	Released provisions and transferred charges	GM	0
	Exchange gains	GN	4,706
	Net income from disposal of investment securities	GO	0

Financial Charge (VI)

			31/12/2012
	Total financial charge (Total VI)	GU	105,403
	Financial reserves and provisions	GQ	0
	Interest and similar charges	GR	95,702
	Exchange losses	GS	9,701
	Net loss from disposal of investment securities	GT	0

Extraordinary income(VII)

			31/12/2012
	Total extraordinary income (Total VII)	HD	0
	Extraordinary operating income	HA	0
	Extraordinary income from capital transactions	HB	0
	Released provisions and transferred charges	HC	0

Extraordinary charges(VIII)

			31/12/2012
	Total extraordinary charges (Total VIII)	HH	0
	Extraordinary operating charges	HE	0
	Extraordinary charges from capital transactions	HF	0
	Extraordinary reserves and provisions	HG	0

Employee profit sharing(IX)

		31/12/2012
Employee profit sharing (Total IX)	HJ	41,975

Tax on profits(X)

		31/12/2012
Tax on profits (Total X)	HK	-67,964

References

		31/12/2012
Of which equipment leases	HP	0
Of which property leases	HQ	0
Of which transferred charges	A1	0
Of which trader's own contributions	A2	0
Of which royalties on licences and patents (income)	A3	0
Of which royalties on licences and patents (charges)	A4	0

Display parameter
Currency	Euro	Kilo Euro

Other incomes tax return forms
Reserve for depreciation | Provisions included in balance sheet | State deadlines claims and debts at the end of period
Table allocation results and other information

Fixed Assets
Grand Total Fixed Assets (I to IV)

			31/12/2012
	Gross value at begin of period	OG	0
	Increasess due to revaluation	OH	0
	Decreasess, acquisitions, creations, contributions	OJ	0
	Decreasess by budget item transfer	OK1	0
	Decreasess by transfers	OK2	0
	Gross value at the end of period	OL	2,789,025

Research and development Charge (Total I)

			31/12/2012
	Gross value at begin of period	CZ	0
	Increasess due to revaluation	KB	0
	Increasess, acquisitions, creations, contributions	KC	108,906
	Decreasess by budget item transfer	C01	0
	Decreasess by transfers	C02	0
	Gross value at the end of period	D0	108,906

Other budget item from Intangible fixed assets(Total II)

			31/12/2012
	Gross value at begin of period	KD	0
	Increasess due to revaluation	KE	0
	Increasess, acquisitions, creations, contributions	KF	100,001
	Decreasess by budget item transfer	LV1	0
	Decreasess by transfers	LV2	0
	Gross value at the end of period	LW	100,001

Tangible fixed assets (Total III)

			31/12/2012
	Gross value at begin of period	LN	0
	Increasess due to revaluation	LO	0
	Increasess, acquisitions, creations, contributions	LP	2,554,889
	Decreasess by budget item transfer	NG1	0
	Decreasess by transfers	NG2	0
	Gross value at the end of period	NH	2,554,889

Financial assets (Total IV)

			31/12/2012
	Gross value at begin of period	LQ	0
	Increasess due to revaluation	LR	0
	Increasess, acquisitions, creations, contributions	LS	25,230
	Decreasess by budget item transfer	NJ1	0
	Decreasess by transfers	NJ2	0
	Gross value at the end of period	NK	25,230

Reserve for depreciation
Situation and movement of reserve for depreciation
Grand total (I-II-III)

			31/12/2012
	Reserve for depreciation value at begin of period	0N	0
Increases		0P	0
Decreasess		0Q	0
	Reserve for depreciation value at the end of period	0R	0

Research and development charge (Total I)

			31/12/2012
	Reserve for depreciation value at begin of period	CY	0
Increases		PB	0
Decreasess		PC	0
	Decreasess by budget item transfer	PD	0

Other intangible assets (Total II)

			31/12/2012
	Reserve for depreciation value at begin of period	PE	0
Increases		PF	6,352
Decreasess		PG	0
	Decreasess by budget item transfer	PH	6,352

Total fixed assets amotisation(Total III)

			31/12/2012
	Reserve for depreciation value at begin of period	QU	0
Increases		QV	39,189
Decreases		QW	0
	Decreasess by budget item transfer	QX	39,189

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2012
	Gross value at begin of period	Z91	0
Increases		Z92	0
Depreciation of fixed assets during period		Z9	0
	Decreasess by budget item transfer	B1	0

Premium refund of obligations

			31/12/2012
	Net value at begining of period	SP1	0
Increases		SP2	0
Depreciation of fixed assets during period		SP	108,906
	Net value at the end of period	SR	0

Provisions included in balance sheet
Grand Total (I-II-III)

			31/12/2012
	Value at begining of period	7C	448,600
Increases		UB	382,471
Decreases		UC	0
	Value at the end of period	UD	831,071

Includes Total allocations

Operating	UE	382,471
Financial	UG	0
Exceptional	UJ	0

Includes Total Withdrawal

Operating	UF	0
Financial	UH	0
Exceptional	UK	0

Total regulated provisions (Total I)

			31/12/2012
	Value at begining of period	3Z	0
Increases		TS	0
Decreases		TT	0
	Value at the end of period	TU	0

Total risk and charge provisions (Total II)

			31/12/2012
	Value at begining of period	5Z	0
Increases		TV	189,758
Decreases		TW	0
	Value at the end of period	TX	189,758

Total Provision for depreciation (Total III)

			31/12/2012
	Value at begining of period	7B	448,600
Increases		TY	192,713
Decreases		TZ	0
	Value at the end of period	UA	641,313

State deadlines claims and debts at the end of period
State claims

		31/12/2012
Gross value	VT	1,773,292
1 year at most	VU	1,773,292
More than one year	VV	0

State of loans

		31/12/2012
Claims related to holdings (gross)	UL	0
Claims related to shareholdings (1 year at most)	UM	0
Loans (gross)	UP	0
Loans (1 year at most)	UR	0
Other financial assets (gross)	UT	25,152
Other financial assets (1 year at most)	UV	25,152

Receivables statement of assets

		31/12/2012
Customers doubtful or disputed	VA	16,379
Other claims customer	UX	1,037,685
Receivables represent Loaned Securities	UU	0
Provision for depreciation previously established	UQ	0
Personnel and associated accounts	UY	11,655
Social Security and other social organizations	UZ	0
Income taxes	VM	67,964
Value added tax	VB	42,128
Other taxes and payments assimilated	VN	0
State and other public - Miscellaneous	VP	0
Group and Associates	VC	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	530,606

Prepaid

		31/12/2012
Prepaid	VS	41,723

State Debt

			31/12/2012
	Total debt (gross)	VY	6,785,551
1 year at most		VZ2	3,285,551
More than 1 year and 5 years at most		VZ3	3,500,000
More than 5 years		VZ4	0

Details

			31/12/2012
	Convertible bonds (gross)	7Y1	0
1 year at most		7Y2	0
More than 1 year and 5 years at most		7Y3	0
	Other bonds (gross)	7Z1	0
1 year at most		7Z2	0
More than 1 year and 5 years at most		7Z3	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	0
1 year at most		VG2	0
More than 1 year and 5 years at most		VG3	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	1,006,675
1 year at most		VH2	1,006,675
More than 1 year and 5 years at most		VH3	0
	Loans and various financial liabilities (gross)	8A1	3,558,333
1 year at most		8A2	58,333
More than 1 year and 5 years at most		8A3	3,500,000
	Suppliers and associated accounts (gross)	8B1	1,173,345
1 year at most		8B2	1,173,345
More than 1 year and 5 years at most		8B3	1,173,345
	Personnel and associated accounts (gross)	8C1	313,503
1 year at most		8C2	313,503
More than 1 year and 5 years at most		8C3	0
	Social Security and other social organizations (gross)	8D1	518,720
1 year at most		8D2	518,720
More than 1 year and 5 years at most		8D3	0
	Taxes on profits (gross)	8E1	0
1 year at most		8E2	0
More than 1 year and 5 years at most		8E3	0
	VAT (gross)	VW1	34,970
1 year at most		VW2	34,970
More than 1 year and 5 years at most		VW3	0
	Backed Obligations (gross)	VX1	0
1 year at most		VX2	0
More than 1 year and 5 years at most		VX3	0
	Other taxes and assimilated (gross)	VQ1	37,691
1 year at most		VQ2	37,691
More than 1 year and 5 years at most		VQ3	0
	Assets and liabilities associated accounts (gross)	8J1	0
1 year at most		8J2	0
More than 1 year and 5 years at most		8J3	0
More than 5 years		8J4	0
	Groups and associates (gross)	VI1	0
1 year at most		VI2	0
More than 1 year and 5 years at most		VI3	0
More 5 years		VI4	0
	Other liabilities (gross)	8K1	142,314
1 year at most		8K2	142,314
More than 1 year and 5 years at most		8K3	0
	Debt representative of borrowed securities (gross)	SZ1	0
1 year at most		SZ2	0
More than 1 year and 5 years at most		SZ3	0
	Products in advance (gross)	8L1	0
1 year at most		8L2	0
More than 1 year and 5 years at most		8L3	0

References

		31/12/2012
Loans made during the period	VJ	1,065,008
Debt repaid during the period	VK	58,333

Table allocation results and other information
Dividends distributed

		31/12/2012
Dividends	ZE	0

Commitments

		31/12/2012
Commitments leasing furniture	YQ	0
Commitments Real Estate Leasing	YR	0
Effects brought to the discount and unmatured	YS	0

Other charges Externes

		31/12/2012
Subcontracting	YT	47,447
Rentals, rental charges and condominiums	XQ	115,866
Staff outside the company	YU	25,079
Remuneration intermediaries and fees (excluding fees)	SS	611,327
Fees, commissions and brokerage	YV	0
Other accounts	ST	1,047,799
Total Other purchases and external	ZJ	1,847,518

Taxes and Fees

		31/12/2012
Business tax	YW	0
Other taxes and payments assimilated	9Z	87,149
Total taxes and fees	YX	87,149

VAT

		31/12/2012
Amount VAT collected	YY	977,325
Total VAT on goods and services	YZ	688,655

Average number of employees

		31/12/2012
Average number of employees	YP	88

Groups and Shareholders

		31/12/2012
Groups and Shareholders	ZR	0

Display parameter
Comparison mode	Average	Median

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

Structure and Liquidity

		31/12/2012	Sector Median2012
Fixed Asset Financing		2.50	1.67	49.7%
Global Debt		193days	109days	77.1%
Working Capital Fund overall net		119days	77days	54.5%
Financial independence		205.18%	595.77%	-65.6%
More ratios
Solvability		23.76%	46.29%	-48.7%
Capacity debt futures		216%	1589.93%	-86.4%
Coverage of current assets by net working capital overall		59.77%	47.90%	24.8%
General Liquidity		0.54	0.78	-30.8%
Restricted Liquidity		1.01	1.09	-7.3%

Management or rotation

		31/12/2012	Sector Median2012
Need background in operating working capital		74days	51days	45.1%
Treasury		44days	11days	300%
Inventory turnover of goods		0days	53.50days	0%
Average length of credit granted to customers		45days	63days	-28.6%
Average length of credit obtained suppliers		67days	57days	17.5%
More ratios
Inventory turnover of raw materials in industrial enterprises		112days	69days	62.3%
Inventory turnover of intermediate and finished products in the industrial enterprise		290days	349days	-16.9%
Rotation tangible assets		289.77%	365.81%	-20.8%

Profitability of the business

		31/12/2012	Sector Median2012
Margin trading		-1.22%	0.46%	-365.2%
Profitability of the business		8.23	4.79%	71.8%
Net profit		2.36%	2.65%	-10.9%
More ratios
Growth rate of turnover (excluding VAT)		%	0%	-
Rates integration		46.14%	28.10%	64.2%
Rate leasing furniture		0%	0%	0%
Work Factor		79.62%	75.54%	5.4%
Weight interests		1.42	0.39%	264.1%

Return on capital

		31/12/2012	Sector Median2012
Cash flow from the overall profitability		3.10%	4.16%	-25.5%
Rates of economic profitability		9%	12%	-25.0%
Financial profitability		2174406%	660847%	229.0%
Return on investment		4.15%	8.69%	-52.2%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2012	Sector Median2012
Turnover	7,403,388	2,638,078 €	180.6%

Sales of goods	116,252
- Purchase of goods	172,084
+/- Stock of goods variation	34,218
Trading margin	-90,050 €	2,387 €	-3872.5%
	-1.22 % CA	0.66 % CA	-284.8%

Sale of goods produced	7,287,136
+/- Stocked production	1,620,812
+ Self-constructed assets	0
Period production	8,907,948 €	2,084,551 €	327.3%
	120.32 % CA	98.29 % CA	22.4%

Trading margin	-90,050	2,387	-3872.5%
+ Period Production	8,907,948	2,084,551	327.3%
- Purchase of raw materials	4,732,511
+/- Change in stocks of raw materiels	-1,178,265
- Other external purchases and charges	1,847,518
Added value	3,416,134 €	773,144 €	341.8%
	46.14 % CA	28.10 % CA	64.2%

Added value	3,416,134 €	773,144 €	341.8%
+ Operating grants	0
- Tax, duty and similar payments	87,149
- Personal charges	2,719,933
Gross operating surplus	609,052 €	86,140 €	607.0%
	8.23 % CA	4.79 % CA	71.8%

Gross operating surplus	609,052 €	86,140 €	607.0%
+ Release of reserves and provisions	70,696
+ Other operating income	5,808
- Depreciation/Amortisation	437,645
- Other charges	21
Operating result	247,890 €	57,036 €	334.6%
	3.35 % CA	3.38 % CA	-0.9%

Operating result	247,890 €	57,036 €	334.6%
+/- Result of joint-venture transferred from/to other partners	0
+ Financial income	5,933
- Financial charges	105,403
Pre-tax result	148,420 €	50,881 €	191.7%
	2.00 % CA	3.40 % CA	-41.2%

Extraordinary income	0	8,184	0%
- Extraordinary charges	0
Extraordinary result	0 €	0 €	0%
	0.00 % CA	-00.01 % CA	0%

Pre-tax result	148,420 €	50,881 €	191.7%
Extraordinary result	0 €	0 €	0%
- Employee profit sharing	41,975
- Tax on profits	-67,964
Net result	174,409 €	48,824 €	257.2%
	2.36 % CA	2.65 % CA	-10.9%

judgements

Collective procedures

No judgment information for the company

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

Preferential rights details and history

Summary of preferential rights

Status of Monitoring	Collection of preferential rights impossible on this company
Number of active preferential rights	0
Total amount	-
Due remaining amount	-

event history

Status history

Date	Description
03/10/2012	Economically active

Recent publications in Gazettes

Publication date	Gazette Name	Description
10/06/2013	Bodacc C	Comptes annuels et rapports
28 - EURE-ET-LOIR GREFFE DU TRIBUNAL DE COMMERCE DE CHARTRES 3664 - 751974791 RCS. BRANCHER KINGSWOOD. Forme : Société par actions simplifiée. Adresse : Parc d'Activités du Saule 28170 Tremblay-les-Villages. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
02/11/2012	Bodacc B	Modification et mutation diverse
28 - EURE-ET-LOIR GREFFE DU TRIBUNAL DE COMMERCE DE CHARTRES 64 - 751 974 791 RCS Chartres. BRANCHER KINGSWOOD. Forme : Société par actions simplifiée. Administration : Président : WU Xianliang Commissaire aux comptes titulaire : RSM RSA Commissaire aux comptes suppléant : FOURCADE Jean-Louis. Activité : . Adresse du siège social : Parc d'Activités du Saule, 28170 Tremblay-les-Villages. Commentaires : Modification survenue sur l'administration et transfert du siège social.
12/10/2012	JAL	Appointment of the social representative
Action Républicaine (L )/Bi-hebdomadaire du Perche Date de décision : 03/10/2012 Société faisant l'objet d'une nomination : 751974791 - BRANCHER KINGSWOOD, 3 RUE DU COLONEL MOLL, 75017 PARIS 17 Nominé : Monsieur Xianliang WU, JIANGSU PROVINCE En la fonction de : Président
12/10/2012	JAL	Head Office Transfer
Action Républicaine (L')/Bi-hebdomadaire du Perche Date de décision : 03/10/2012 Transfert du siège social de la société 751974791 - BRANCHER KINGSWOOD Adresse du nouveau siège : PARC D ACTIVITE VALLEE DU SAULE, 28170 TREMBLAY LES VILLAGES Ancienne localisation : 3 RUE DU COLONEL MOLL, 75017 PARIS 17 Date d'effet : 03/10/2012
12/10/2012	JAL	Resignation / Revocation of the social representative
Action Républicaine (L )/Bi-hebdomadaire du Perche Date de décision : 03/10/2012 La société 751974791 - BRANCHER KINGSWOOD, 3 RUE DU COLONEL MOLL, 75017 PARIS 17 Fait l'objet du départ de Monsieur David OWEN
04/10/2012	JAL	Head Office Transfer
Affiches parisiennes (Les) Date de décision : 03/10/2012 Transfert du siège social de la société 751974791 - BRANCHER KINGSWOOD Adresse du nouveau siège : PARC D ACTIVITE VALLEE DU SAULE, 28170 TREMBLAY LES VILLAGES Ancienne localisation : 3 RUE DU COLONEL MOLL, 75017 PARIS 17 Date d'effet : 03/10/2012
04/09/2012	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 893 - 751 974 791 RCS Paris. BRANCHER KINGSWOOD. Forme : Société par actions simplifiée à associé unique. Capital : 2000000 EUR. Activité : . Adresse du siège social : 3 rue du Colonnel Moll, 75017 Paris. Commentaires : modification survenue sur le capital (augmentation).
01/08/2012	JAL	Modification of the share capital
Affiches parisiennes (Les) Date de décision : 20/07/2012 La société : 751974791 - BRANCHER KINGSWOOD, 3 RUE DU COLONEL MOLL, 75017 PARIS 17 a subi une augmentation de son capital social désormais de 2 000 000 € Date d'effet : 20/07/2012
11/07/2012	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 3069 - 751 974 791 RCS Paris. BRANCHER KINGSWOOD. Forme : Société par actions simplifiée à associé unique. Capital : 1000 EUR. Activité : Commercialisation et fabrication des encres d'imprimerie. Adresse de l’établissement principal : 3 rue du Colonnel Moll, 75017 Paris. Adresse du siège social : 3 rue du Colonnel Moll, 75017 Paris. Commentaires : modification survenue sur l'activité de l'établissement principal. Date de commencement de l’activité : 04/06/2012.
27/06/2012	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 4019 - 751 974 791 RCS Paris. BRANCHER KINGSWOOD. Forme : Société par actions simplifiée à associé unique. Capital : 1000 EUR. Activité : Commercialisation d'encres d'imprimerie. Adresse de l’établissement principal : 3 rue du Colonnel Moll, 75017 Paris. Adresse du siège social : 3 rue du Colonnel Moll, 75017 Paris. Commentaires : Mise en activité de la société, modification survenue sur la prise d'activité, l'activité de l'établissement principal, l'adresse de l'établissement et la date de début d'activité. Date de commencement de l’activité : 04/06/2012.
22/06/2012	Bodacc A	Création d'établissement
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 557 - 751 974 791 RCS Paris. BRANCHER KINGSWOOD. Forme : Société par actions simplifiée à associé unique. Administration : Président : Owen, David, Commissaire aux comptes titulaire : RSM RSA, Commissaire aux comptes suppléant : Fourcade, Jean-Louis. Capital : 1000 EUR. Adresse : 3 rue du Colonnel Moll, 75017 Paris. A dater du : 07/06/2012. Date de commencement de l’activité : 01/01/0001. Descriptif : Cette soci¿t¿ n'exerce aucune activit¿. Commentaires : Immatriculation d'une personne morale (B, D) sans activité.

Company events history

Date	Description
07/03/2014	New subsidiarie(s) detected
07/03/2014	New ultimate parent
07/03/2014	New parent detected
19/10/2013	Update Rating
19/10/2013	Update Limit
10/06/2013	Bodacc C : Deposit accounts notice
17/05/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2012	New accounts available
02/11/2012	Bodacc B: Various editing or changing
15/10/2012	Amendment
15/10/2012	Updated articles of association
15/10/2012	New chairman (CEO, CoB)
15/10/2012	Registered office transferred inside jurisdiction of the Commercial Court
12/10/2012	Legal Gazette: Resignation / Revocation of the social representative
12/10/2012	Legal Gazette: Head Office Transfer
04/10/2012	Legal Gazette: Head Office Transfer
03/10/2012	Transfer of Establishment
03/10/2012	Legal Gazette: Appointment of the social representative
03/10/2012	Modification of Company Activity
03/10/2012	Update of Company Head Office Identifier
03/10/2012	Update of Company Activity
04/09/2012	Bodacc B: Various editing or changing
20/08/2012	Capital increase
20/08/2012	Updated articles of association
20/08/2012	Amendment
20/08/2012	Fund deposit certificate
20/07/2012	Legal Gazette: Modification of the share capital
11/07/2012	Bodacc B: Various editing or changing
27/06/2012	Bodacc B: Various editing or changing
22/06/2012	Bodacc A : Establishment creation
07/06/2012	Fund deposit certificate
07/06/2012	Articles of association
07/06/2012	Formation of Establishment

Establishment events history

Date	Description
09/03/2014	Update Rating
04/08/2013	Update Rating
04/08/2013	Update Limit
19/06/2013	Update of phone numbers
03/10/2012	Modification of Head office (after transfer)
03/10/2012	Modification of Establishment
07/06/2012	Formation of Establishment

directors

Name	M. WU XIANLIANG
Manager position	President	Date of birth	08/02/1978
Place of birth	JIANGSU(CHINE)
Type	Individual	Name at birth

Previous Directors

No data about previous directors is available for this company

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.00
UK Pound	1	Rs.102.05
Euro	1	Rs.81.71

INFORMATION DETAILS

Analysis Done by :	SUB
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.