MIRA INFORM REPORT

 

 

Report No. :

316649

Report Date :

11.04.2015

 

IDENTIFICATION DETAILS

 

Name :

TEN KATE TEXTIEL B.V.

 

 

Registered Office :

A. Einsteinweg 23, 2408AP Alphen Aan Den Rijn

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

01.08.1978

 

 

Com. Reg. No.:

28042048

 

 

Legal Form :

Private Company

 

 

Line of Business :

Wholesale of Textile Products.

 

 

No. of Employees :

9 [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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Netherlands

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

NETHERLANDS - ECONOMIC OVERVIEW

 

Netherlands is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, sizable trade surplus, and important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The Dutch financial sector suffered as a result of the global financial crisis, due in part to the high exposure of some Dutch banks to US mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009. To recover, the government sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing austerity measures in early 2011, mainly reducting expenditures, which resulted in an improved budget deficit in 2011. However, in 2012 tax revenues dropped, GDP contracted, and the budget deficit deteriorated. In 2013, the government budget deficit decreased to 3.3% of GDP due to increased government revenue from higher taxes. However, spending on social benefits also increased, due to a rise in unemployment benefits and payments for pensions. The high unemployment rate and tax increases have contributed to continued decreases in household disposable income, causing the Dutch economy to contract.

 

Source : CIA

 

 

Company summary

 

Company name                        Ten Kate Textiel B.V.

Operative address                    A. Einsteinweg 23

2408AP Alphen aan den Rijn

Netherlands

Legal form                               Private Company

Registration number                KvK-nummer: 28042048

VAT-number                             808636418

 

 

Year

2013

Mutation

2012

Mutation

2011

Fixed assets

54.499

24,29

43.849

-10,55

49.020

Total receivables

373.654

13,40

329.506

-0,21

330.194

Total equity

866.678

-5,29

915.099

3,60

883.287

Short term liabilities

395.247

132,54

169.966

-49,87

339.065

Working capital

812.179

-6,78

871.250

4,43

834.267

Quick ratio

1,31

-41,52

2,24

19,15

1,88

 

 

 

Contact information

 

 

Company name                        Ten Kate Textiel B.V.

Trade names                            Ten Kate Textiel B.V.

 

Operative address                    A. Einsteinweg 23

2408AP Alphen aan den Rijn

Netherlands

Correspondence address         A. Einsteinweg 23

2408AP Alphen aan den Rijn

Netherlands

 

Telephone number                   0172 494244

Fax number                              0172 472613

Email address                          tenkate@tenkatetextiel.nl

Website                                    www.tenkatetextiel.nl

 

 

Registration

 

Registration number                KvK-nummer: 28042048

Registered in                            Kamer van Koophandel Den Haag

Branch number                        000019546866

VAT-number                             808636418

 

Status                                      Active

First registration company

register                                    2000-03-14

Memorandum                           2000-03-07

Establishment date                  1978-08-01

 

Legal form                               Private Company

 

Subscribed share capital          EUR 90.756

Issued placed capital               EUR 18.151

Paid up share capital               EUR 18.151

 

 

Activities

 

SBI                                           Wholesale of textile products (46429)

 

Exporter                                   No

Importer                                   No

 

Goal                                         Groothandel in textiel en confectie. Deelnemen in andere ondernemingen.

 

 

Relations

 

Shareholders                           Ten Kate Holding B.V.

A. Einsteinweg 23

2408AP ALPHEN AAN DEN RIJN

Netherlands

Registration number: 280853890000

Percentage: 100%

 

Companies on same address   Ten Kate Holding B.V.

Registration number: 280853890000

 

 

Bank Details

 

Accounts                                  ABN Amro Bank NV

Account number: 42.00.25.561

 

 

Management

 

Active management                  Ten Kate Holding B.V.

A. Einsteinweg 23

2408AP ALPHEN AAN DEN RIJN

Netherlands

Registration number: 280853890000

Competence: Fully authorized

Function: Manager

Starting date: 2000-03-07

 

 

Employees

 

Year                                         2013                 2012                 2011                 2010                 2009

Total                                         9                      9                      9                      5                      9

 

 

 

 

Key Figures

 

Year

2013

2012

2011

2010

2009

Quick Ratio

1,31

2,24

1,88

3,13

  2,55

Current Ratio

3,05

6,13

3,46

5,15

  5,23

 

 

 

 

 

 

Year

2013

2012

2011

2010

2009

Working capital/ balance total

0,64

0,80

0,68

0,78

0,78

Equity / balance total

0,69

0,84

0,72

0,81

0,82

Equity / Fixed assets

15,90

20,87

18,02

31,02

19,64

Equity / liabilities

2,19

5,38

2,61

4,29

4,46

Balance total / liabilities

3,19

6,38

3,61

5,29

5,46

 

Working capital

812.179

871.250

834.267

986.439

776.416

Equity

866.678

915.099

883.287

1.019.294

818.072

Mutation equity

-5,29

3,60

-13,34

24,60

0,48

Mutation short term liabilities

132,54

-49,87

42,69

29,61

117,46

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary                                 The 2013 financial result structure is a postive working captial of 812.179 euro,  which is in agreement with 64 % of the total assets of the company.

The working capital has diminished with -6.78 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined.

The deterioration between 2012 and 2013 has mainly been caused by an increase of the current liabilities.

The current ratio of the company in 2013 was 3.05. If the current ratio exeeds 3.0, the company may not be using its current assets or its short-term financing facilities efficiently .

The quick ratio in 2013 of the company was 1.31. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

The 2012 financial result structure is a postive working captial of 871.250 euro, which is in agreement with 80 % of the total assets of the company.

The working capital has increased with 4.43 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.

The improvement between 2011 and 2012 has mainly been caused by an increase of the current assets.

The current ratio of the company in 2012 was 6.13. If the current ratio exeeds 3.0, the company may not be using its current assets or its short-term financing facilities efficiently .

The quick ratio in 2012 of the company was 2.24. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

 

 

                  

 

 

Financial Statement

 

Last annual account                 2013

Remark annual account            The company is obliged to file its financial statements.

 

Type of annual account            Corporate

 

Annual account                        Ten Kate Textiel B.V.

A. Einsteinweg 23

2408AP Alphen aan den Rijn

Netherlands

Registration number: 280420480000

 

 

Balance

 

Year

2013

2012

2011

2010

2009

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

2009-12-31

Tangible fixed assets

54.499

43.849

49.020

32.855

41.656

Fixed assets

54.499

43.849

49.020

32.855

41.656

 

 

 

 

 

 

Total stock

691.446

661.306

536.312

481.323

491.425

Total receivables

373.654

329.506

330.194

237.176

247.855

Liquid funds

142.326

50.404

306.826

505.569

220.472

Current assets

1.207.426

1.041.216

1.173.332

1.224.068

959.752

Total assets

1.261.925

1.085.065

1.222.352

1.256.923

1.001.408

 

 

 

 

 

 

Issued capital

18.151

18.151

18.151

18.151

18.151

Share premium reserve

476.530

476.530

476.530

476.530

476.530

Other reserves

371.997

420.418

388.606

524.613

323.391

Total reserves

848.527

896.948

865.136

1.001.143

799.921

Total equity

866.678

915.099

883.287

1.019.294

818.072

 

 

 

 

 

 

Short term liabilities

395.247

169.966

339.065

237.629

183.336

Total short and long term liabilities

395.247

169.966

339.065

237.629

183.336

Total liabilities

1.261.925

1.085.065

1.222.352

1.256.923

1.001.408

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary                                 The total assets of the company increased with 16.3 % between 2012 and 2013.

The total asset increase is retrievable in the fixed asset growth of 24.29 %.

Asset growth is in contrasts with the net worth decline of -5.29 %. The company's

indebtedness has, therefore, increased with 132.54 %.

In 2013 the assets of the company were 4.32 % composed of fixed assets and 95.68 % by current assets. The assets are being financed by an equity of 68.68 %, and total debt of 31.32 %.

The total assets of the company decreased with -11.23 % between 2011 and 2012.

This total assets decrease has been reflected in a reduction of non current assets of -10.55 %.

The asset reduction is in contrast with the equity growth of 3.6 %. Due to this the total debt decreased with -49.87 %.

In 2012 the assets of the company were 4.04 % composed of fixed assets and 95.96 % by current assets. The assets are being financed by an equity of 84.34 %, and total debt of 15.66 %.

 

 

 

 

 

 

Analysis

 

Branch (SBI)                             Wholesale trade (no motor vehicles and motorcycles) (46)

Region                                     Rijnland

In the Netherlands 109662 of the companies are registered with the SBI code 46

In the region Rijnland 4319 of the companies are registered with the SBI code 46

In the Netherlands 2387 of the bankrupcties are published within this sector

In the region Rijnland 97 of the bankruptcies are published within this sector

The risk of this specific sector in the Netherlands is normal

The risk of this specific sector in the region Rijnland is normal

 

 

Publications

 

Filings                                                 14-11-2014: De jaarrekening over 2013 is gepubliceerd.

20-09-2013: De jaarrekening over 2012 is gepubliceerd.

14-08-2012: De jaarrekening over 2011 is gepubliceerd.

04-08-2011: De jaarrekening over 2010 is gepubliceerd.

14-09-2010: De jaarrekening over 2009 is gepubliceerd.

 

 

Company structure

 

Relations                                  2

 

Ten Kate Holding B.V.

A. Einsteinweg 23

2408AP ALPHEN AAN DEN RIJN

Netherlands

Registration number: 280853890000

• Ten Kate Textiel B.V.

A. Einsteinweg 23

2408AP Alphen aan den Rijn

Netherlands

Registration number: 280420480000

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.37

UK Pound

1

Rs.91.60

Euro

1

Rs.66.49

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

               

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.