MIRA INFORM REPORT
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Report Date : |
03.01.2015 |
IDENTIFICATION DETAILS
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Name : |
SCOTCH & SODA N.V. |
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Operative Office : |
Jacobus Spijkerdreef 20t/m
24, 2132PZ Hoofddorp |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
27.06.2011 |
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Com. Reg. No.: |
53020863 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesalers of all kinds of Readymade Garments for women, Men, girl’s, & Boy’s Subject product
line are as follows: Women Blazers &
Gilets, Dresses, Jackets, Jeans, Jumpsuits, Knitwear, Pants, Shirts, Shorts,
Skirts, Sweaters, Tops & T-Shirts, Underwear & Accessories Men Blazers &
Gilets, Boxershorts, Jackets, Jeans, Pants, Polos, Pullovers & Cardigans,
Shirts, Sweaters, T-Shirts, Atelier Scotch, All Atelier Scotch, Coats &
Jackets, Suits, Blazers & Waistcoats, Shirts, Pants, Knitwear &
Accessories Girl’s Blazers & Gilets, Dresses, Jackets, Jeans, Pants, Pullovers &
Cardigans, Shirts, Shorts, Skirts, Sweaters, Tops & T-Shirts, Underwear
& Accessories Boy’s Blazers & Gilets, Jackets, Jeans, Pants, Knitwear, Shirts,
Sweaters, T-Shirts, Underwear & Accessories |
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No of Employees : |
05 (2015) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Netherlands |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 reducing 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 |
summary
Company name Scotch & Soda N.V.
Operative address Jacobus
Spijkerdreef 20t/m 24
2132PZ Hoofddorp
Netherlands
Risk Reduced
risk
Status Active
Legal form Naamloze
Vennootschap (Limited Liability Company)
Registration number KvK-nummer:
53020863
VAT-number 850711265
|
Year |
2013 |
|
Fixed assets |
335.853.241 |
|
Total receivables |
51.642.724 |
|
Total equity |
85.474.288 |
|
Short term liabilities |
81.461.710 |
|
Net result |
-1.668.275 |
|
Working capital |
14.522.821 |
|
Quick ratio |
0,72 |
Contact
information
Company name Scotch
& Soda N.V.
Trade names Scotch
& Soda N.V.
Operative address Jacobus
Spijkerdreef 20t/m 24
2132PZ
Hoofddorp
Netherlands
Head Office Keizersgracht 22
1015CR Amsterdam
The Netherlands
Tel. No.: 0235611111
E-Mail info@scotch-soda.com
Website www.scotch-soda.com
Registration
Registration number KvK-nummer:
53020863
Branch number 000022907106
VAT-number 850711265
Status Active
First registration
company register 2011-06-27
Memorandum 2011-06-27
Establishment date 2011-06-27
Legal form Naamloze
Vennootschap (Limited Liability Company)
Last proposed
admendment 2014-12-24
Subscribed share capital EUR
225.000
Issued placed capital EUR
45.000
Paid up share capital EUR
45.000
Activities
Wholesalers of all kinds of Readymade Garments for women, Men, girl’s, & Boy’s
Subject product
line are as follows:
Women
Blazers &
Gilets, Dresses, Jackets, Jeans, Jumpsuits, Knitwear, Pants, Shirts, Shorts,
Skirts, Sweaters, Tops & T-Shirts, Underwear & Accessories
Men
Blazers & Gilets,
Boxershorts, Jackets, Jeans, Pants, Polos, Pullovers & Cardigans, Shirts,
Sweaters, T-Shirts, Atelier Scotch, All Atelier Scotch, Coats & Jackets,
Suits, Blazers & Waistcoats, Shirts, Pants, Knitwear & Accessories
Girl’s
Blazers & Gilets, Dresses, Jackets, Jeans, Pants, Pullovers &
Cardigans, Shirts, Shorts, Skirts, Sweaters, Tops & T-Shirts, Underwear
& Accessories
Boy’s
Blazers & Gilets, Jackets, Jeans, Pants, Knitwear, Shirts,
Sweaters, T-Shirts, Underwear & Accessories
Exporter No
Importer No
Relations
Branches
Scotch & Soda Beheer B.V.
Jacobus Spijkerdreef 20-24
2132PZ HOOFDDORP
Netherlands
Registration number: 530208630001
Liability statements
Foreign entity
date of issue: 2013-02-13
Starting date: 2011-01-01
Management
Active Management
M.B.M. Koridon (Michael Bernardus Maria)
1329AK
Netherlands
Competence: Fully authorized
Function: Proxy
Starting date: 2012-04-05
Date of birth: 1963-03-25, Hilversum, NL
Involved
with the following companies
• Scotch & Soda B.V.
Jacobus Spijkerdreef 20-24
2132PZ Hoofddorp
Netherlands
Registration number: 341635430000
Function: Proxy
I.J.D. Stapert (IJnse Jan Dirk)
Netherlands
Competence: Fully authorized
Function: Proxy
Starting date: 2014-08-27
Date of birth: 1969-09-16, Oosthuizen, NL
Involved
with the following companies
• Scotch & Soda B.V.
Jacobus Spijkerdreef 20-24
2132PZ Hoofddorp
Netherlands
Registration number: 341635430000
Function: Proxy
Employees
Total according to the Chamber of Commerce 5
Year 2015
2014 2013
Total 5 10 10
Payments
Description Payments are made regularly no
complaints are known
Key figures
Year 2013
Quick ratio
0,72
Current ratio 1,18
Working capital/ balance total 0,03
Equity / balance total 0,20
Equity / Fixed assets 0,25
Equity / liabilities
0,25
Balance total / liabilities 1,25
Working capital 14.522.821
Equity 85.474.288
Return on total assets (ROA) 0,63
Return on equity (ROE) 3,20
Gross profit margin 7,47
Net profit margin -0,53
Average collection ratio 3,84
Average payment ratio 6,06
Equity turnover ratio 3,66
Total assets turnover ratio 0,72
Fixed assets turnover ratio 0,93
Inventory conversion ratio 8,31
Turnover 312.928.906
Gross margin 143.950.496
Operating result 23.376.199
Net result after taxes -1.668.275
Cashflow 32.802.026
EBIT 23.376.199
EBITDA 57.846.500
Summary
The 2013 financial result structure is a positive working
capital of 14.522.821 euro, which is in
agreement with 3 % of the total assets of the company.
The current ratio of the company in 2013 was 1.18. 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 0.72. 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
liability statement is filed by a company outside the Netherlands. We advise
to
request a credit report on the foreign entity to assess the credit limit.
Type of annual account Consolidated
Annual account Scotch
& Soda N.V.
Jacobus Spijkerdreef 20t/m 24
2132PZ Hoofddorp
Netherlands
Registration number: 530208630000
Balance
sheet
Year 2013
End date 2013-12-31
Intangible fixed assets 304.712.237
Tangible fixed assets 26.880.473
Financial fixed assets 4.260.531
Fixed assets 335.853.241
Total stock 37.661.429
Accounts receivable 38.462.676
Other receivables 13.180.048
Total receivables 51.642.724
Liquid funds 6.680.378
Current assets
95.984.531
Total assets
431.837.772
Total equity
85.474.288
Provisions 17.283.323
Long term interest yielding debt 112.633.278
Financial debts 134.985.173
Long term liabilities 247.618.451
Accounts payable 20.251.226
Other short term liabilities 61.210.484
Short term liabilities 81.461.710
Total short and long term
liabilities 346.363.484
Total liabilities 431.837.772
Summary
In 2013 the assets of the company were 77.77 % composed of
fixed assets and 22.23 % by current assets. The assets are being financed by an
equity of 19.79 %, and total debt of 80.21 %.
Profit
and loss
Year 2013
Revenues 312.928.906
Net turnover 312.928.906
Gross margin 143.950.496
Wages and salaries 29.066.397
Amorization and depreciation 34.470.301
Sales 168.978.410
other operating costs 57.037.599
Operating expenses
289.552.707
Result in subsidiaries 1.241.920
Operating result 23.376.199
Financial income 135.499
Financial expenses 22.018.242
Financial result -21.882.743
Result on ordinary operations
before taxes 2.735.376
Taxation on the result of
ordinary activities 4.403.651
Result of ordinary activities
after taxes -1.668.275
Net result -1.668.275
Summary
The company's Financial Profitability has been neutrally
affected by the financial activities in comparison to the EBITs behaviour. The
result of these variations is the unchanged profitability of the analysed
period, remaining unchanged at 3.2 % in the year 2013.
Analysis
Branch (SBI)
Financial institutions, except insurance and pension
funding (64)
Region
Kennemerland
In the Netherlands 377806 of the companies are registered
with the SBI code 64
In the region Kennemerland 13265 of the companies are
registered with the SBI code 64
In the Netherlands 3279 of the bankrupcties are published
within this sector
In the region Kennemerland 90 of the bankruptcies are
published within this sector
The risk of this specific sector in the Netherlands is Low
The risk of this specific sector in the region
Kennemerland is Low
Publications
Consent statements
28-03-2013: Voor boekjaar 2012 is een
instemmingsverklaring gedeponeerd.
14-02-2013: Voor boekjaar 2011 is een
instemmingsverklaring gedeponeerd.
Liability statements
28-03-2013: Per 13-02-2013 is een
aansprakelijkheidsverklaring door gedeponeerd.
14-02-2013: Per 13-02-2013 is een
aansprakelijkheidsverklaring door gedeponeerd.
Filings
28-04-2014: De jaarrekening over 2013 is gepubliceerd.
Functions
11-12-2014: Per 02-12-2014 is bestuurder David Francis
Finnigan in functie getreden.
11-12-2014: Per 02-12-2014 is bestuurder Christopher
Thomas Metz uit functie getreden.
03-10-2014: Per 16-09-2014 is bestuurder Christopher
Thomas Metz in functie getreden.
03-10-2014: Per 16-09-2014 is bestuurder Martin Keith
Clifford-King in functie getreden.
03-10-2014: Per 16-09-2014 is bestuurder David Francis
Finnigan uit functie getreden.
03-10-2014: Per 16-09-2014 is bestuurder Donald Vincent
Roach uit functie getreden.
04-09-2014: Per 27-08-2014 is gevolmachtigde IJnse Jan
Dirk Stapert in functie getreden.
04-09-2014: Per 27-08-2014 is gevolmachtigde Jozef Jacobus
Henricus Krouwels uit functie getreden.
04-09-2014: Per 27-08-2014 is gevolmachtigde Eric Pieter
Bijlsma uit functie getreden.
03-07-2014: Per 25-06-2014 is bestuurder Michael Hayes
Kalb in functie getreden.
03-07-2014: Per 25-06-2014 is bestuurder Jason Howard
Neimark uit functie getreden.
05-05-2014: Per 01-05-2014 is bestuurder Dirk Johannes
Matthijs Stoppelenburg in functie getreden.
29-01-2014: Per 22-01-2014 is bestuurder Jop Pollmann uit
functie getreden.
10-09-2013: Per 20-08-2013 is bestuurder Mary Elaine
Harris in functie getreden.
25-04-2013: Per 03-04-2013 is gevolmachtigde Jozef Jacobus
Henricus Krouwels in functie getreden.
25-04-2013: Per 03-04-2013 is gevolmachtigde Eric Pieter
Bijlsma in functie getreden.
25-04-2013: Per 03-04-2013 is gevolmachtigde Jop Pollmann
uit functie getreden.
11-04-2013: Per 30-03-2013 is bestuurder Jop Pollmann in
functie getreden.
11-04-2013: Per 30-03-2013 is bestuurder Michael Joannes
Maria Witteveen in functie getreden.
11-04-2013: Per 30-03-2013 is bestuurder Robert Bram Polet
in functie getreden.
11-04-2013: Per 30-03-2013 is bestuurder Jozef Jacobus
Henricus Krouwels in functie getreden.
11-04-2013: Per 30-03-2013 is bestuurder Eric Pieter
Bijlsma in functie getreden.
11-04-2013: Per 30-03-2013 is bestuurder Jason Howard
Neimark in functie getreden.
11-04-2013: Per 30-03-2013 is bestuurder David Francis
Finnigan in functie getreden.
11-04-2013: Per 30-03-2013 is bestuurder Donald Vincent
Roach in functie getreden.
11-04-2013: Per 30-03-2013 is commissaris David Francis
Finnigan uit functie getreden.
11-04-2013: Per 30-03-2013 is commissaris Donald Vincent
Roach uit functie getreden.
11-04-2013: Per 30-03-2013 is bestuurder 34176927 Es
Torrent Beheer B.V. uit functie getreden.
11-04-2013: Per 30-03-2013 is bestuurder 30128436 Bijlsma
Beheer B.V. uit functie getreden.
07-12-2012: Per 14-11-2012 is commissaris David Francis
Finnigan in functie getreden.
07-12-2012: Per 14-11-2012 is commissaris Thomas Victor
Taylor uit functie getreden.
18-07-2012: Per 01-07-2012 is bestuurder 32092520 Vidamia
B.V. uit functie getreden.
19-06-2012: Per 10-05-2012 is commissaris Donald Vincent
Roach in functie getreden.
19-06-2012: Per 10-05-2012 is commissaris Thomas Victor
Taylor in functie getreden.
19-06-2012: Per 10-05-2012 is commissaris Mark Edward
Brody uit functie getreden.
19-06-2012: Per 10-05-2012 is commissaris Christopher
Thomas Metz uit functie getreden.
13-04-2012: Per 05-04-2012 is gevolmachtigde Michael
Bernardus Maria Koridon in functie getreden.
02-04-2012: Per 27-03-2012 is gevolmachtigde Jop Pollmann
in functie getreden.
02-02-2012: Per 31-01-2012 is commissaris Christopher
Thomas Metz in functie getreden.
02-02-2012: Per 31-01-2012 is commissaris Mark Edward
Brody in functie getreden.
02-02-2012: Per 31-01-2012 is bestuurder Mark Edward Brody
uit functie getreden.
02-02-2012: Per 31-01-2012 is bestuurder Christopher
Thomas Metz uit functie getreden.
02-02-2012: Per 31-01-2012 is bestuurder Mark Edward Brody
in functie getreden.
02-02-2012: Per 31-01-2012 is bestuurder Christopher
Thomas Metz in functie getreden.
02-02-2012: Per 31-01-2012 is bestuurder 34176927 Es
Torrent Beheer B.V. in functie getreden.
02-02-2012: Per 31-01-2012 is bestuurder 30128436 Bijlsma
Beheer B.V. in functie getreden.
02-02-2012: Per 31-01-2012 is bestuurder 32092520 Vidamia
B.V. in functie getreden.
02-02-2012: Per 31-01-2012 is bestuurder George Brian
McGee uit functie getreden.
02-02-2012: Per 31-01-2012 is bestuurder 34317555 Corfas
B.V. uit functie getreden.
27-06-2011: Per 27-06-2011 is bestuurder George Brian
McGee in functie getreden.
27-06-2011: Per 27-06-2011 is bestuurder 34317555 Corfas
B.V. in functie getreden.
Mergers
21-12-2011: Op 19-12-2011 fusievoorstel gedeponeerd.
Verkrijgende rechtspersoon: Next
Bidco B.V., 53020863 Verdwijnende rechtspersoon: Scotch
& Soda Beheer B.V., 34298600.
Amendments
30-12-2014: Per 24-12-2014 statuten gewijzigd.
05-05-2014: Per 1-5-2014 is de bevoegdheid van Bestuurder
Michael Joannes Maria Witteveen gewijzigd.
29-01-2014: Per 22-1-2014 is de bevoegdheid van Bestuurder
Michael Joannes Maria Witteveen gewijzigd.
11-04-2013: Geplaatst kapitaal gewijzigd in EUR 45.000,00
Gestort kapitaal gewijzigd in EUR 45.000,00.
11-04-2013: Per 30-3-2013 statuten gewijzigd. Per 30-3-2013
naam gewijzigd in: Scotch & Soda N.V.. Zetel gewijzigd in: Amsterdam.
Rechtsvorm gewijzigd van Besloten vennootschap met gewone structuur in Naamloze
vennootschap met gewone structuur.
02-02-2012: Per 31-1-2012 statuten gewijzigd. Per
31-1-2012 naam gewijzigd in: Scotch & Soda Beheer B.V.. Zetel gewijzigd in:
Hoofddorp.
Company
structure
Relations 7
Scotch & Soda N.V.
Jacobus Spijkerdreef 20t/m 24
2132PZ Hoofddorp
Netherlands
Registration number: 530208630000
• Scotch & Soda N.V.
Jacobus Spijkerdreef 20-24
2132PZ HOOFDDORP
Netherlands
Registration number:
342986000000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.29 |
|
UK Pound |
1 |
Rs.98.39 |
|
Euro |
1 |
Rs.76.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.