MIRA INFORM REPORT

 

 

Report No. :

318814

Report Date :

23.04.2015

 

IDENTIFICATION DETAILS

 

Name :

NO-EXCESS B.V.

 

 

Registered Office :

New Yorkstraat 70 1175RD Lijnden

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

01.08.1989

 

 

Com. Reg. No.:

34073682

 

 

Legal Form :

Private Company

 

 

Line of Business :

Wholesale of outerwear

 

 

No. of Employees :

27 (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, the sixth-largest economy in the euro-zone, is noted for its important role as a European transportation hub, sizable trade surplus, stable industrial relations, and moderate unemployment and inflation. Industry focuses on 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 food-processing and export. 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 injected billions of dollars of capital into financial institutions to stem the deterioration. To address the economic downturn, the government also sought to stimulate the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credits. 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 to reduce the budget deficit, and, in 2013, the government brought the budget deficit below the euro-zone limit of 3% of GDP. Though the Dutch economy remains fragile, a gradual improvement in GDP growth in 2014 helped reduce the deficit further through an increase in government tax revenues. Private consumption remains subdued because of high unemployment, low wage growth, and still-high levels of debt, which together with tax increases, have made households reluctant to spend. Private investment and export growth are susceptible to slower activity in the Netherlands’ European trading partners and geopolitical tensions that constrain international trade.

 

 

Source : CIA

Summary

 

Company name                                     No-Excess B.V.

Operative address                                 New Yorkstraat 70

1175RD Lijnden

Netherlands

Legal Form                                           Private Company

Registration number                              KvK-nummer: 34073682

VAT-number                                          800418141

 

 

Year

2013

Mutation

2012

Mutation

2011

Fixed assets

1.907.640

-4,90

2.005.885

-2,66

2.060.676

Total receivables

1.381.983

-24,80

1.837.836

173,33

672.388

Total equity

2.657.408

-2,46

2.724.340

-4,11

2.841.236

Short term liabilities

1.711.275

9,63

1.561.002

81,91

858.100

Net result

 

 

 

 

 

Working capital

749.768

4,36

718.455

-7,96

780.560

Quick ratio

1,35

-0,74

1,36

-3,55

1,41

 

 

 

 

Contact information

 

Company name                                     No-Excess B.V.

Trade names                                         No-Excess B.V.

Operative address                                 New Yorkstraat 70

1175RD Lijnden

Netherlands

Correspondence address Postbus         117

1170AC Badhoevedorp

Netherlands

Telephone number                                 020 6587676

Fax number                                           020 6595676

Email address                                       info@no-excess.com

Website                                                www.no-excess.com

 

 

Registration

 

Registration number                              KvK-nummer: 34073682

Registered in                                         Kamer van Koophandel Amsterdam

Branch number                                      000017399211

VAT-number                                          800418141

Status                                                   Active

First registration company register         1991-08-30

Memorandum                                        1991-08-16

Establishment date                                1989-08-01

Legal form                                            Private Company

Last proposed admendment                  2004-09-27

Issued placed capital                             EUR 45.000

Paid up share capital                             EUR 45.000

 

 

Activities

 

SBI                                           Wholesale of outerwear (46421)

Exporter                                   Yes

Importer                                    Yes

Goal                                         Het im- en exporteren van, alsmede het handelen en gros in textiel en textielprodukten

 

 

Relations

 

Shareholders                           Naluji Holding B.V.

New Yorkstraat 70

1175RD LIJNDEN

Netherlands

Registration number: 342750400000

Percentage: 100%

 

Companies on same address  Its Noize B.V.

Registration number: 340968450000

Lakewood Holding B.V.

Registration number: 332280430000

Naluji Holding B.V.

Registration number: 342750400000

Companies on same address

RV Pensioen B.V.

Registration number: 343294540000

 

 

Management

 

Active management                  R. de Veer (Roelf)

Netherlands

Competence: Fully authorized

Function: Manager

Starting date: 1991-08-16

Date of birth: 1958-01-12, Rotterdam, NL

Active management

H. Potuijt (Hendrik)

Netherlands

Competence: Fully authorized

Function: Proxy

Starting date: 1994-10-01

Date of birth: 1959-08-15, 's-Gravenhage, NL

 

 

Employees

 

Total according to the Chamber of Commerce    27

 

Year

 

2013

2012

2011

2010

2009

Total

 

27

33

33

27

54

 

 

 

 

 

 

Payments

 

Description                                           Payments are made regularly no complaints are known

 

 

Key figures

 

Year

2013

2012

2011

2010

2009

Quick ratio

1,35

1,36

1,41

1,59

1,17

Current ratio

1,44

1,46

1,91

1,71

1,55

Working capital/ balance total

0,17

0,17

0,21

0,10

0,12

Equity / balance total

0,61

0,64

0,77

0,86

0,78

Equity / Fixed assets

1,39

1,36

1,38

1,13

1,19

Equity / liabilities

1,55

1,75

3,31

6,25

3,51

Balance total / liabilities

2,55

2,75

4,31

7,25

4,51

Working capital

749.768

718.455

780.560

633.081

907.214

Equity

2.657.408

2.724.340

2.841.236

5.574.728

5.736.420

Mutation equity

-2,46

-4,11

-49,03

-2,82

12,31

Mutation short term liabilities

9,63

81,91

-3,81

-45,47

-18,31

Return on total assets (ROA)

 

 

 

3,29

6,22

Return on equity (ROE)

 

 

 

3,81

8,00

Gross margin

 

 

 

4.169.530

4.352.586

Operating result

 

 

 

238.932

513.662

Net result after taxes

 

 

 

266.883

628.618

Cashflow

 

 

 

384.538

734.631

EBIT

 

 

 

238.932

513.662

EBITDA

 

 

 

356.587

619.675

 

Summary

 

The 2013 financial result structure is a postive working captial of 749.768 euro, which is in agreement with 17 % of the total assets of the company.

The working capital has increased with 4.36 % compared to previous year. The ratio with respect to the total assets of the company remains unchanged.

The improvement between 2012 and 2013 has mainly been caused by a current liabilities reduction.

The current ratio of the company in 2013 was 1.44. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.

The quick ratio in 2013 of the company was 1.35. 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 718.455 euro, which is in agreement with 17 % of the total assets of the company.

The working capital has diminished with -7.96 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined.

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

The current ratio of the company in 2012 was 1.46. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.

The quick ratio in 2012 of the company was 1.36. 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                                                 No-Excess B.V.

New Yorkstraat 70

1175RD Lijnden

Netherlands

Registration number: 340736820000

 

 

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

150.423

203.887

255.300

254.187

209.647

Financial fixed assets

1.757.217

1.801.998

1.805.376

4.687.460

4.619.559

Fixed assets

1.907.640

2.005.885

2.060.676

4.941.647

4.829.206

Total stock

158.233

155.676

431.023

104.355

624.627

Total receivables

1.381.983

1.837.836

672.388

495.423

474.466

Liquid funds

920.827

285.945

535.249

925.382

1.444.113

Current assets

2.461.043

2.279.457

1.638.660

1.525.160

2.543.206

Total assets

4.368.683

4.285.342

3.699.336

6.466.807

7.372.412

 

 

Year

2013

2012

2011

2010

2009

End date

2013-12-31

2012-12-31

2011-12-31

2010-12-31

2009-12-31

Issued capital

45.378

45.378

45.378

45.378

45.378

Other reserves

2.612.030

2.678.962

2.795.858

5.529.350

5.691.042

Total reserves

2.612.030

2.678.962

2.795.858

5.529.350

5.691.042

Total equity

2.657.408

2.724.340

2.841.236

5.574.728

5.736.420

Short term liabilities

1.711.275

1.561.002

858.100

892.079

1.635.992

Total short and long term liabilities

1.711.275

1.561.002

858.100

892.079

1.635.992

Total liabilities

4.368.683

4.285.342

3.699.336

6.466.807

7.372.412

 

 

Summary

 

The total assets of the company increased with 1.94 % between 2012 and 2013.

Despite the assets growth, the non current assets decreased with -4.9 %.

Asset growth is in contrasts with the net worth decline of -2.46 %. The company's

indebtedness has, therefore, increased with 9.63 %.

In 2013 the assets of the company were 43.67 % composed of fixed assets and 56.33 % by

current assets. The assets are being financed by an equity of 60.83 %, and total debt of

39.17 %.

The total assets of the company increased with 15.84 % between 2011 and 2012.

Despite the assets growth, the non current assets decreased with -2.66 %.

Asset growth is in contrasts with the net worth decline of -4.11 %. The company's

indebtedness has, therefore, increased with 81.91 %.

In 2012 the assets of the company were 46.81 % composed of fixed assets and 53.19 % by

current assets. The assets are being financed by an equity of 63.57 %, and total debt of 36.43%.

 

 

 

Profit and loss

 

Year

2010

2009

Gross margin

4.169.530

4.352.586

Wages and salaries

1.489.999

1.419.079

Amorization and depreciation

117.655

106.013

other operating costs

2.322.944

2.313.832

Operating expenses

3.930.598

3.838.924

Operating result

238.932

513.662

Financial result

-26.348

-54.891

Result on ordinary operations before taxes

212.584

458.771

Taxation on the result of ordinary activities

43.596

107.251

Result of ordinary activities after taxes

168.988

351.520

Extraordinary income

97.895

 

Extraordinary result after taxation

97.895

 

Result subsidiaries after taxes

 

277.098

 

 

Analysis

 

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

Region                          Groot Amsterdam

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

In the region Groot Amsterdam 10512 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 Groot Amsterdam 209 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 Groot Amsterdam is normal

 

 

Publications

 

Filings                          19-05-2014: De jaarrekening over 2013 is gepubliceerd.

28-01-2014: De jaarrekening over 2012 is gepubliceerd.

26-11-2012: De jaarrekening over 2011 is gepubliceerd.

05-09-2011: De jaarrekening over 2010 is gepubliceerd.

23-04-2010: De jaarrekening over 2009 is gepubliceerd

 

 

Company structure

 

Relations

Naluji Holding B.V.

New Yorkstraat 70

1175RD LIJNDEN

Netherlands

Registration number: 342750400000

• No-Excess B.V.

New Yorkstraat 70

1175RD Lijnden

Netherlands

Registration number: 340736820000

• Its Noize B.V.

New Yorkstraat 70

1175RD Lijnden

Netherlands

Registration number: 340968450000

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.82

UK Pound

1

Rs.93.85

Euro

1

Rs.67.57

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

VNT

 

               

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.