MIRA INFORM REPORT

 

 

Report No. :

335871

Report Date :

10.08.2015

 

IDENTIFICATION DETAILS

 

Name :

AXXENT MASTERS IN TEA B.V.

 

 

Registered Office :

Avelingen-West 50 4202MV Gorinchem

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

27.09.2006

 

 

Com. Reg. No.:

KvK-nummer: 37127885

 

 

Legal Form :

Private Company

 

 

Line of Business :

Wholesale coffee , tea, hot water heaters and related articles

 

 

No. of Employees :

7 (2015)

 

 

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.

 

 

NETHERLANDS - ECONOMIC OVERVIEW

 

The Netherlands, the sixth-largest economy in the European Union, plays an important role as a European transportation hub, with a persistently high trade surplus, stable industrial relations, and moderate unemployment. 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 underpins the country’s status as the world’s second largest agricultural exporter. The Netherlands is part of the Eurozone, and as such, its monetary policy is controlled by the European Central Bank. The Dutch financial sector is highly concentrated, with four commercial banks possessing over 90% of banking assets. The sector suffered as a result of the global financial crisis and required billions of dollars of government support, but the European Banking Authority completed stringent reviews in 2014 and deemed Dutch banks to be well-capitalized. To address the 2009 and 2010 economic downturns, the government 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 has since implemented significant austerity measures to improve public finances and has instituted broad structural reforms in key policy areas, including the labor market, the housing sector, the energy market, and the pension system. As a result, the government budget deficit at the end of 2014 dropped to 1.8% of GDP. Following a protracted recession during which unemployment doubled to 7.4% and household consumption contracted for nearly three consecutive years, the year 2014 saw fragile GDP growth of 0.8 percent and a rise in most economic indicators. Drivers of growth included increased exports and business investments, as well as newly invigorated household consumption.

 

Source : CIA

 

 

Summary

 

Company name                                    Axxent Masters in Tea B.V.

Operative address                                Avelingen-West 50

4202MV Gorinchem

Netherlands

Legal form                                           Private Company

Registration number                            KvK-nummer: 37127885

VAT-number                                         817038516

 

Year

2014

Mutation

2013

Mutation

2012

Fixed assets

914.540

-14,56

1.070.368

-25,91

1.444.614

Total receivables

855.579

-7,68

926.772

17,92

785.915

Total equity

930.239

68,92

550.705

41,70

388.647

Short term liabilities

1.287.031

 -10,41

1.436.652

8,23

1.327.346

Working capital

792.014

72,90

458.080

2.987,62

14.836

Quick ratio

0,66

1,54

0,65

10,17

0,59

 

 

 

Contact information

 

Company name                                    Axxent Masters in Tea B.V.

Trade names                                        Tresoro

Axxent Masters in Tea B.V.

T'amore

Golden Sunrise

Sunleaf

Tea of Life

Bradley's

Operative address                                Avelingen-West 50

4202MV Gorinchem

Netherlands

Correspondence address                     Avelingen-West 50

4202MV Gorinchem

Netherlands

Telephone number                               0183407490

Fax number                                          0183407499

Email address                                      info@masters-in-tea.com

Website                                                www.masters-in-tea.com | www.tresoro.it | www.t-amore.nl | www.tamore.nl | www.fairgrounds.org | ww

 

 

Registration

 

Registration number                            KvK-nummer: 37127885

Branch number                                    000018098088

VAT-number                                         817038516

Status                                                  Active

First registration company register      2006-12-11

Memorandum                                       2006-12-07

Establishment date                              2006-09-27

Legal form                                           Private Company

Legal person since                               2006-12-07

Last proposed admendment                 2013-03-19

Issued placed capital                           EUR 18.000

Paid up share capital                           EUR 18.000

 

 

Activities

 

SBI                                                       Wholesale of coffee, tea, cocoa and spices (no raw) (4637)

Exporter                                               No

Importer                                               No

Branche organisations                         KNVKT - Koninklijke Nederlandse Vereniging voor Koffie en Thee

Goal                                                     Wholesale coffee , tea, hot water heaters and related articles

 

 

 

Relations

 

Companies on same address               Arcus B.V.

Registration number: 160555620000

Stichting Fair-grounds Foundation

Registration number: 302739520000

 

 

Bank details

 

Accounts                                              Rabobank Nederland

Account number: NL60RABO0123585317

BIC: RABONL2U

 

 

Management

 

Active management                              Argent Holding B.V.

Maclaine Pontstraat 37

1814HJ ALKMAAR

Netherlands

Registration number: 371278430000

Competence: Jointly authorized

Function: Manager

Starting date: 2006-12-07

Aves Holding B.V.

Fregatlaan 5

5237PT 'S-HERTOGENBOSCH

Netherlands

Registration number: 171954560000

Competence: Jointly authorized

Function: Manager

Starting date: 2008-01-02

 

 

Employees

 

Year

2015

2014

2013

2012

2011

Total

7

7

7

3

3

 

 

Payments

 

Description                                          According condition

 

 

Key figures

 

Year

2014

2013

2012

2011

2010

Quick ratio

0,66

0,65

0,59

0,60

0,82

Current ratio

1,62

1,32

1,01

1,29

1,13

 

Working capital/ balance total

0,26

0,15

0,01

0,21

0,10

Equity / balance total

0,31

0,19

0,14

0,27

0,17

Equity / Fixed assets

1,02

0,51

0,27

3,33

1,58

Equity / liabilities

0,45

0,23

0,16

0,38

0,21

Balance total / liabilities

1,45

1,23

1,16

1,38

1,21

 

Working capital

792.014

458.080

14.836

198.609

97.839

Equity

930.239

550.705

388.647

264.377

163.636

Mutation equity

68,92

41,70

47,00

61,56

30,77

Mutation short term liabilities

-10,41

8,23

93,94

-8,00

175,50

 

Net result after taxes

 

 

 

100.741

 

 

Summary

 

The 2014 financial result structure is a postive working captial of 792.014 euro, which is in agreement with 26 % of the total assets of the company.

The working capital has increased with 72.9 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.

The improvement between 2013 and 2014 has mainly been caused by an increase of the current assets.

The current ratio of the company in 2014 was 1.62. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength.

The quick ratio in 2014 of the company was 0.66. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

The 2013 financial result structure is a postive working captial of 458.080 euro, which is in agreement with 15 % of the total assets of the company.

The working capital has increased with 2987.62 % 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 1.32. 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 0.65. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

 

 

 

 

Financial statement

 

Last annual account                             2014

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

Type of annual account                        Corporate

Annual account                                    Axxent Masters in Tea B.V.

Avelingen-West 50

4202MV Gorinchem

Netherlands

Registration number: 371278850000

 

 

Balance

 

Year

2014

2013

2012

2011

2010

End date

2014-12-31

2013-12-31

2012-12-31

2011-12-31

2010-12-31

Intangible fixed assets

735.123

833.140

 

Tangible fixed assets

160.579

162.286

57.414

79.401

103.542

Financial fixed assets

18.838

74.942

1.387.200

 

Fixed assets

914.540

1.070.368

1.444.614

79.401

103.542

 

Total stock

1.223.378

967.814

555.886

469.917

230.360

Total receivables

855.579

926.772

785.915

413.082

611.394

Liquid funds

88

146

381

19

38

Current assets

2.079.045

1.894.732

1.342.182

883.018

841.792

Total assets

2.993.585

2.965.100

2.786.796

962.419

945.334

 

Issued capital

18.000

18.000

18.000

18.000

18.000

Other reserves

912.239

532.705

370.647

246.377

145.636

Total reserves

912.239

532.705

370.647

246.377

145.636

Total equity

930.239

550.705

388.647

264.377

163.636

 

Long term interest yielding debt

776.315

977.743

1.070.803

13.633

37.745

Long term liabilities

776.315

977.743

1.070.803

13.633

37.745

Short term liabilities

1.287.031

1.436.652

1.327.346

684.409

743.953

Total short and long term liabilities

2.063.346

2.414.395

2.398.149

698.042

781.698

Total liabilities

2.993.585

2.965.100

2.786.796

962.419

945.334

 

Summary

 

The total assets remained the same between 2013 and 2014.

Despite the fact that the total assets remained the same, the fixed assets decreased with -14.56 %.

Despite thee unchanged assets the net worth grew with 68.92 %, which has resulted in the fact that the company's indebtedness declined with -14.54 %.

In 2014 the assets of the company were 30.55 % composed of fixed assets and 69.45 % by current assets. The assets are being financed by an equity of 31.07 %, and total debt of 68.93 %.

The total assets of the company increased with 6.4 % between 2012 and 2013.

Despite the assets growth, the non current assets decreased with -25.91 %.

In 2013 the assets of the company were 36.1 % composed of fixed assets and 63.9 % by current assets. The assets are being financed by an equity of 18.57 %, and total debt of 81.43 %.

 

 

 

 

 

 

Analysis

 

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

Region                                                 Zuid-Holland Oost

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

In the region Zuid-Holland Oost 4943 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 Zuid-Holland Oost 86 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 Zuid-Holland Oost is normal

 

 

Publications

 

Filings                                                             08-06-2015: De jaarrekening over 2014 is gepubliceerd.

08-06-2015: De jaarrekening over 2014 is gepubliceerd.

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

20-06-2013: De jaarrekening over 2012 is gepubliceerd.

30-03-2012: De jaarrekening over 2011 is gepubliceerd.

09-08-2011: De jaarrekening over 2010 is gepubliceerd.

27-10-2010: De jaarrekening over 2009 is gepubliceerd.

Amendments                                        25-03-2013: Per 19-3-2013 statuten gewijzigd. Per 19-3-2013 naam gewijzigd in: Axxent Masters in Tea B.V..

 

 

Company structure

 

Relations                                              2

 

Axxent Masters in Tea B.V.

Avelingen-West 50

4202MV Gorinchem

Netherlands

Registration number: 371278850000

• Arcus B.V.

Avelingen-West 50

4202MV GORINCHEM

Netherlands

Registration number: 160555620000

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.81

UK Pound

1

Rs.98.93

Euro

1

Rs.69.66

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.