MIRA INFORM REPORT

 

 

Report No. :

320350

Report Date :

29.04.2015

 

IDENTIFICATION DETAILS

 

Name :

TURBO SPARES B.V.

 

 

Registered Office :

Veerhaven 7, 3016CJ Rotterdam

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

09.05.2007

 

 

Com. Reg. No.:

24414680

 

 

Legal Form :

Private Company

 

 

Line of Business :

Subject is engaged in wholesale of internal combustion engines

 

 

No. of Employee :

1

 

 

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 – 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

TURBO SPARES B.V.

 

Operative address

Veerhaven 7

 

 

3016CJ Rotterdam

 

 

Netherlands

 

Legal form

Private Company

Registration number

KvK-nummer: 24414680

VAT-number

817970496

 

 

 

 

 

 

Year

2013

Mutation

2012

Mutation

2011

Fixed assets

3.344

 

 

 

 

Total receivables

237.815

27,82

186.061

-17,15

224.564

Total equity

47.668

239,68

-34.127

-148,77

69.970

Short term liabilities

253.821

-10,61

283.956

12,34

252.770

Working capital

44.324

229,88

-34.127

-148,77

69.970

Quick ratio

0,94

42,42

0,66

-25,84

0,89

 

 

Contact information

 

Company name

Turbo Spares B.V.

Trade names

Turbo Spares B.V

Independent Waiver Service

Operative address

Veerhaven 7

3016CJ Rotterdam Netherlands

Correspondence address

Sint-Jobsweg 24E

 

3024EJ Rotterdam

 

Netherlands

Mobile number

0653254568

 

 

Registration

 

 

Registration number

KvK-nummer: 24414680

Branch number

000019538707

VAT-number

817970496

Status

Active

First registration company register

2007-08-23

Memorandum

2007-08-22

Establishment date

2007-05-09

Legal form

Besloten Vennootschap

Issued placed capital

EUR 18.000

Paid up share capital

EUR 18.000

 

 

Activities

 

 

SBI

Wholesale of internal combustion engines (46693)

Exporter

Yes

Importer

Yes

Goal

Groothandel in technische onderdelen ten behoeve van scheepsmotoren en andere motoren

Het opmaken van Waiver documenten ten behoeve van verzendingen..

 

 

Relations

 

Shareholders

Veerhaven Holding B.V.

Sint-Jobsweg 24e 3024EJ ROTTERDAM Netherlands

Registration number: 243339330000 Percentage: 100%

Companies on same address

Amount: 38

 

 

Management

 

Active management

Veerhaven Holding B.V.

 

Sint-Jobsweg 24e 3024EJ ROTTERDAM Netherlands

 

Registration number: 243339330000 Competence: Fully authorized Function: Manager

 

Starting date: 2011-12-28

 

 

Employees

 

Total according to the Chamber of Commerce

1

 

 

 

 

Year

2015

2013

2012

2011

2010

Total

1

1

1

1

1

 

 

Payments

 

Description

Payments made under regular condition

 

 

Key figures

 

 

 

 

 

Year

2013

2012

2011

2010

2009

Quick ratio

0,94

0,66

0,89

0,52

0,70

Current ratio

1,17

0,88

1,28

1,23

1,10

Working capital/ balance total

0,15

-0,14

0,22

0,17

0,08

Equity / balance total

0,16

-0,14

0,22

0,24

0,18

Equity / Fixed assets

14,25

 

 

2,35

1,26

Equity / liabilities

0,19

-0,12

0,28

0,32

0,22

Balance total / liabilities

1,19

0,88

1,28

1,32

1,22

Working capital

44.324

-34.127

69.970

53.887

26.691

Equity

47.668

-34.127

69.970

79.084

62.129

Mutation equity

239,68

-148,77

-11,52

27,29

-35,10

Mutation short term liabilities

-10,61

12,34

6,58

-9,89

-34,05

 

 

Summary

 

The 2013 financial result structure is a postive working captial of 44.324 euro, which is in

 

agreement with 15 % of the total assets of the company.

 

The working capital has increased with 229.88 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.

 

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

 

The current ratio of the company in 2013 was 1.17. 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 0.94. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

 

The 2012 financial result structure is a negative working captial of -34.127 euro, which is in agreement with -14 % of the total assets of the company.

 

The working capital has diminished with -148.77 % 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 0.88. 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 0.66. A company with a Quick Ratio of less than 1 cannot 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

Turbo Spares B.V.

 

 

Veerhaven 7

 

 

3016CJ Rotterdam

Netherlands

Registration number: 244146800000

 

 

 

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

3.344

 

 

33.697

49.317

Fixed assets

3.344

 

 

33.697

49.317

Total stock

60.626

63.768

98.176

168.323

105.213

Total receivables

237.815

186.061

224.564

96.773

104.658

Liquid funds

-296

 

 

25.957

80.027

Current assets

298.145

249.829

322.740

291.053

289.898

Total assets

301.489

249.829

322.740

324.750

339.215

Issued capital

18.000

18.000

18.000

18.000

18.000

Other reserves

29.668

-52.127

51.970

61.084

44.129

Total reserves

29.668

-52.127

51.970

61.084

44.129

Total equity

47.668

-34.127

69.970

79.084

62.129

Long term interest yielding debt

 

 

 

8.500

13.879

Long term liabilities

 

 

 

8.500

13.879

Accounts payable

52.475

 

 

 

 

Other short term liabilities

201.346

 

 

 

 

Short term liabilities

253.821

283.956

252.770

237.166

263.207

Total short and long term liabilities

253.821

283.956

252.770

245.666

277.086

Total liabilities

301.489

249.829

322.740

324.750

339.215

 

 

Summary

 

The total assets of the company increased with 20.68 % between 2012 and 2013.

 

The assets growth has been financed by a Net Worth increase of 239.68 %. The company's net increase has also covered a reduction of -10.61 % of the company's indebtedness. In 2013 the assets of the company were 1.11 % composed of fixed assets and 98.89 % by current assets. The assets are being financed by an equity of 15.81 %, and total debt of 84.19 %.

 

The total assets of the company decreased with -22.59 % between 2011 and 2012. The asset reduction results in an equity decrease of -148.77 %. Despite the decrease, the indebtness increased with 12.34 %.

 

 

Analysis

 

Branch (SBI)

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

Region

Groot Rotterdam

 

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

In the region Groot Rotterdam 8969 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 Rotterdam 231 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 Rotterdam is normal

 

 

Publications

 

Filings

 

09-07-2014: De jaarrekening over 2013 is gepubliceerd.

30-01-2014: De jaarrekening over 2012 is gepubliceerd.

19-12-2012: De jaarrekening over 2011 is gepubliceerd.

23-03-2011: De jaarrekening over 2010 is gepubliceerd.

18-02-2011: De jaarrekening over 2009 is gepubliceerd.

 

Functions

 

04-01-2012: Per 28-12-2011 is bestuurder 24333933 Veerhaven Holding B.V. in functie

getreden.

 

04-01-2012: Per 28-12-2011 is bestuurder 24414682 IRM Holding B.V. uit functie getreden.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.33

UK Pound

1

Rs.96.52

Euro

1

Rs.68.93

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

ASH

 

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.