MIRA INFORM REPORT

 

 

Report No. :

336094

Report Date :

10.08.2015

 

IDENTIFICATION DETAILS

 

Name :

TIME STAR BVBA

 

 

Registered Office :

Pelikaanstraat 62, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

30.10.2006

 

 

Com. Reg. No.:

884871909

 

 

Legal Form :

Private Limited Company

 

 

Line of business :

Wholesale of diamonds and other precious stones.

 

 

No. of Employees :

Not Available

 

 

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 :

Slow but correct

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, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Belgium

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

BELGIUM - ECONOMIC OVERVIEW

 

This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to shifts in foreign demand, particularly in Belgium’s EU trade partners. Roughly three-quarters of Belgium's trade is with other EU countries. In 2014 Belgian GDP grew by 0.9%, the unemployment rate stabilized at 8.5%, and the the budget deficit was 3.2% of GDP. Prime Minister Charles MICHEL’s center-right government has pledged to further reduce the deficit in response to EU pressure to reduce Belgium’s high public debt, which remains above 100% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and high unemployment promise to curtail a more robust recovery in private consumption. The government has pledged to pursue an reform program to improve Belgium’s competitiveness, including changes to tax policy, labor market rules, and welfare benefits. These changes risk worsening tensions with trade unions and triggering extended strikes.

 

Source : CIA

 

Company summary

 

Business  number

884871909

Branche  Unit  Number

2158364519

Company  name

TIME  STAR  BVBA

Address

PELIKAANSTRAAT  62

 

2018 ANTWERPEN

Number  of  staff

0

Date  of  establishment

30/10/2006

Telephone  number

032323361

Fax  number

--

 

 

Commentary

 

The business was established  over  8  years  ago.

No employees are recorded  for  this  business.

The business has been  at  the  address  for  over  7  years.

A  43% growth  in Total  Assets  occurred  during  the  latest  trading  period.

Pre-tax profits  increased  by  69%  compared  to  the  previous  trading  period.

The business saw an increase in their Cash Balance of 24% during the latest trading  period.

 

 

Accounts

 

DATE  OF 

LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE 

TAX

NET  WORTH

WORKING 

CAPITAL

31/12/2013

 

104,280

16,706

13,610

31/12/2012

 

61,575

-87,573

-90,892

31/12/2011

 

66,097

212,235

204,849

Accounts

 

 

 

 

DATE  OF 

LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER 

OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

5,290,002

0

62,000

105,030

31/12/2012

3,690,751

0

62,000

-295,741

31/12/2011

3,945,605

0

62,000

53,639

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

expectation  days

126.32

Industry  average  day  sales

outstanding

184.98

Day  sales  outstanding

-

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court  action  type

No

 

PROTESTED  BILLS

Bill  amount

-

 

NSSO  DETAILS

Date  of  summons

-

 

 

Company information

 

Business  number

884871909

Company  name

TIME  STAR  BVBA

Fax  number

 

Date  founded

30/10/2006

Company  status

active

Company  type

Private  Limited  Company (BL/LX)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

46761

Liable  for  VAT

yes

Activity  description

Wholesale  of  diamonds  and

VAT  Number

BE.0884.871.909 Check  VAT number

 

other  precious  stones

 

 

Belgian  Bullettin  of Acts  Publications

moniteur  belge

 

 

 

 

Contractor details

 

Registered  contractor

number

-

Contractor  description

-

Date  struck  off  register

 

 

 

Personnel  (NSSO  classification)

Code

-

Description

-

 

 

Joint  Industrial  Committee  (JIC)

Significant  Events

 

Event  Date

18/06/2012

Event  Description

resignation-appointment  of  director(s)

Event  Details

Commentaar  14-07-2010:  De  benoeming  van  Maniyar  Harshil  werd  bevestigd  als  zaakvoerder.

 

 

 

Company accounts

 

Assets

 

 

 

 

 

 

 

 

 

Annual  accounts

31-12-2013

%

31-12-2012

%

31-12-2011

%

31-12-2010

%

31-12-2009

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

3,096

-6.70

3,318

-55.07

7,386

-24.22

9,747

-28.18

13,571

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

2,129

-9.46

2,352

-63.36

6,419

-26.89

8,780

-30.34

12,604

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

1,861

-6.68

1,995

-27.49

2,751

52.81

1,800

-22.18

2,313

Furniture  &  Vehicles

268

-24.99

357

-90.26

3,669

-47.44

6,980

-32.17

10,291

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

967

0

967

0

967

-0.02

967

0

967

Total  current  assets

5,286,906

43.38

3,687,433

-6.37

3,938,219

-6.38

4,206,646

6.01

3,968,197

Inventories

1,871,634

256

525,601

159

202,386

-2.28

207,116

-65.27

596,286

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

-

0

Other  stocks

1,871,634

256

525,601

159

202,386

-2.28

207,116

-65.27

596,286

Trade  debtors

2,940,660

6.11

2,771,450

-20.43

3,483,134

-1.68

3,542,828

12.39

3,152,167

Other  amounts  receivable

797

-92.66

10,867

712

1,337

-30.52

1,924

234

575

Cash

472,403

24.88

378,295

51.36

249,931

-45.01

454,532

107

219,169

Miscellaneous  current  assets

1,411

15.69

1,220

-14.80

1,432

481

246

-

0

Total  Assets

5,290,002

43.33

3,690,751

-6.46

3,945,605

-6.42

4,216,393

5.89

3,981,768

 

 

Liabilities

 

Total  shareholders  equity

16,706

19.08

-87,573

-141

212,235

29.99

163,273

32.44

123,284

Issued  share  capital

62,000

0

62,000

0

62,000

0

62,000

0

62,000

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

-45,294

30.28

-149,573

-199

150,235

48.35

101,273

65.25

61,284

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

5,273,296

39.57

3,778,325

1.20

3,733,370

-7.89

4,053,120

5.04

3,858,484

Other  long  term  loans

-

-

-

-

-

-

-

-

-

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

0

-

0

-

0

-

0

-

0

Current  portion  of  long  term  debt

-

-

-

-

-

-

-

-

-

Financial  debts

-

-

36

-

-

-

-

-

-

Trade  creditors

4,583,728

49.16

3,072,928

2.12

3,009,265

-10.31

3,355,056

-9.64

3,712,825

Amounts  Payable  for  Taxes,

-

-

-

-

3,500

-41.67

6,000

-54.17

13,091

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

689,568

-2.24

705,360

-2.12

720,605

4.12

692,064

422

132,568

Total  current  liabilities

5,273,296

39.57

3,778,325

1.20

3,733,370

-7.89

4,053,120

5.04

3,858,484

Total  Liabilities

5,290,002

43.33

3,690,751

-6.46

3,945,605

-6.42

4,216,393

5.89

3,981,768

 

Ratio Analysis

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

-

-

-

-

-

-

-

-

-

Return  on  capital  employed

624.19

887

-70.31

-325

31.14

-11.51

35.19

37.68

25.56

Return  on  total  assets  employed

1.97

17.96

1.67

-0.60

1.68

23.53

1.36

72.15

0.79

Return  on  net  assets  employed

624.19

887

-70.31

-325

31.14

-11.51

35.19

37.68

25.56

Sales  /  net  working  capital

-

-

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.00

2.04

0.98

-6.67

1.05

0.96

1.04

0.97

1.03

Liquidity  ratio  /  acid  ratio

0.65

-22.62

0.84

-16.00

1.00

1.01

0.99

13.79

0.87

Current  debt  ratio

315.65

731

-43.14

-345

17.59

-29.13

24.82

-20.70

31.30

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

105,030

35.51

-295,741

-651

53,639

20.55

44,495

63.97

27,136

Net  worth

16,706

19.08

-87,573

-141

212,235

29.99

163,273

32.44

123,284

 

 

 

 

 

 

 

 

 

 

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

-

-

-0.04

-

-

-

-

-

-

Equity  in  percentage

0.32

13.50

-2.37

-144

5.38

39.02

3.87

24.84

3.10

Total  debt  ratio

315.65

731

-43.14

-345

17.59

-29.13

24.82

-20.70

31.30

Working  capital

13,610

14.97

-90,892

-144

204,849

33.43

153,526

39.93

109,713

 

 

PROFIT & LOSS

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

-

Total  operating  expenses

-

-

-

-

-

-

-

-

-

Gross  Operating  Margin

31,339

-10.76

35,117

129

-27,060

-128

93,946

257

26,249

Operating  Charges

-

-

-

-

-

-

-

-

-

Employee  costs

-

-

-

-

-

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

0

-

0

-

0

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

751

-81.55

4,068

-13.04

4,678

3.81

4,506

3.11

4,370

Operating  result

28,238

-2.94

29,094

85.63

-33,976

-138

87,448

372

18,505

Total  financial  income

80,801

131

34,841

-66.55

104,149

-

-

-

19,356

Total  financial  expenses

4,759

101

2,360

-42.09

4,075

-86.41

29,998

372

6,351

Results  on  ordinary  operations  before  taxation

104,280

69.35

61,575

-6.84

66,097

15.05

57,450

82.32

31,510

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

361,384

-

-

-

2,776

-

-

Extraordinary  items

0

0

-361,384

-

0

0

-2,776

-

0

Results  for  the  Year  Before  Taxation

104,280

34.78

-299,809

-553

66,097

20.89

54,674

73.51

31,510

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

17,135

16.69

14,685

67.94

8,744

Results  on  ordinary  operations  after  taxation

104,280

69.35

61,575

25.76

48,961

14.49

42,765

87.85

22,766

Net  result

104,280

34.78

-299,809

-712

48,961

22.44

39,989

75.65

22,766

Profit  (Loss)  for  the  Year  to  be  appropiated

104,280

34.78

-299,809

-712

48,961

22.44

39,989

75.65

22,766

Dividends

-

-

-

-

-

-

-

-

-

 

 

Industry comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

industry  average  credit

rating

64.48

Industry  average  credit  limit

140177.31

 

 

Payment Information

 

Suspension  of  payments  /  moratorium  history

Amount

-

Details

-

 

 

Payment  expectations

Payment  expectation  days

-

Day  sales  outstanding

-

 

 

Industry  comparison

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

expectation days

126.32

Industry  average  day  sales

outstanding

184.98

 

 

 

INDUSTRY QUARTILE ANALYSIS

 

Payment expectations

 

Company  result

-

Lower

120.34

Median

74.35

Upper

45.68

 

 

Day  sales  outstanding

 

Company  result

-

Lower

101.92

Median

54.07

Upper

24.31

 

Shareholder  Details

 

Summary

 

Group  -  Number  of  Companies

0

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

 

Group Structure

No group structure for this company.

 

Minority Shareholders

No minority Shareholders found

 

Minority Interests

No minority interests found

 

Individual Shareholders

 

SHAREHOLDER NAME

Forename

Paras

Middle  name

-

Surname

Shah

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

30/10/2006

End  date

-

Percentage  owned

100%

 

 

SHAREHOLDER  ADDRESS

 

 

 

Street  name

-

House  number

-

Minor  town

-

Postal  town

Stekene

Post  code

-

Country

Belgium

 

 

Linked Companies

 

Summary

 

Group  -  Number  of  Companies

0

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

 

Summons

There  is  no  data  for  this  company

 

Protested  Bills

There  is  no  data  for  this  company

 

Bankruptcy  and  other  legal  events

There  is  no  data  for  this  company

 

 

Director details

 

Current director details

 

Name

PARAS  JAYANTILAL  SHAH

Position

Principal  Manager

Start  Date

16/08/2010

Street

123 BELGIËLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.81

UK Pound

1

Rs.98.92

Euro

1

Rs.69.66

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ANK

 

               

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.