MIRA INFORM REPORT

 

 

Report No. :

303765

Report Date :

22.01.2015

 

IDENTIFICATION DETAILS

 

Name :

BESTHOUSE EUROPE AS

 

 

Registered Office :

Esbjergvej 101 6000 Kolding, Kolding/Syddanmark

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

02.03.2005

 

 

Com. Reg. No.:

28504233

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Wholesaler of Home Textiles & Accessories for all both Boys & Girls as well as from New Born to Adults.

 

[We tried to confirm / obtain the detailed activity but the same is not available from any sources.]

 

 

No of Employees :

10

 

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

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)

Denmark

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Denmark ECONOMIC OVERVIEW

 

This thoroughly modern market economy features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. Denmark is a member of the European Union (EU); Danish legislation and regulations conform to EU standards on almost all issues. Danes enjoy a high standard of living and the Danish economy is characterized by extensive government welfare measures and an equitable distribution of income. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus, but depends on imports of raw materials for the manufacturing sector. Within the EU, Denmark is among the strongest supporters of trade liberalization. After a long consumption-driven upswing, Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09 and, following a short respite in 2010, have since continued to decline. Household indebtedness is still relatively high at more than 275% of gross disposable income in the first half of 2013. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. Denmark made a modest recovery in 2010, in part because of increased government spending; however, the country experienced a technical recession in late 2010-early 2011. Historically low levels of unemployment rose sharply with the recession and have remained at about 6% in 2010-13, based on the national measure, about two-thirds average EU unemployment. An impending decline in the ratio of workers to retirees will be a major long-term issue. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit in 2009, where it remains. In spite of the deficits, the new coalition government delivered a modest stimulus to the economy in 2012. Nonetheless, Denmark's fiscal position remains among the strongest in the EU with public debt at about 46% of GDP in 2013. Despite previously meeting the criteria to join the European Economic and Monetary Union (EMU), so far Denmark has decided not to join, although the Danish krone remains pegged to the euro.

 

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

Company name             Besthouse Europe A/S

Address                        Esbjergvej 101 6000 Kolding

Municipality/County       Kolding/Syddanmark

Phone-no.                     +45 88 70 33 00

Fax-no.                         +45 76 36 35 10

www                             www.besthouse-europe.com

E-mail                          info@besthouse-europe.com

CVR-no.                        28504233

Legal form                    Limited company

Company Status           Active

Established                   2005

Employees                   10

Activity (trade)               Wholesaler of Home Textiles & Accessories for all both Boys & Girls as well as from New

Born to Adults.

 

 

DIRECTORS/MANAGEMENT

 

Management Information

Management           Erik Pedersen, General manager (Joined 05-03)

Board of directors   Jan Klarskov Henriksen, Chairman (Joined 05-06)

                         Torben Østergaard Nielsen, Member of the board

                        - (Joined 05-03)

                        Erik Pedersen, Member of the board (Joined 05-03)

                        Allan Bengtsen, Member of the board (Joined 11-03)

                        Steffen Hecht Petersen, Member of the board (Joined - 13-08)

                        John Rix, Member of the board (Joined 13-08)

 

NEGATIVE INFORMATION

 

No negative information found.

PAYMENT INFORMATION

 

Public record information and payment remarks

 

Official registr.              None

 

Payment remarks      None

 

Mortgage moveable pr 2014-04-22 Mortgage on other assets DKK 12.000.000

 

 

Payment profile

Table 1:                                                             Date of measuring: November 2014

The business's                                                     Time of payment

mode of payment                                                  Days exceeding agreement

in relation to                                                      3 mth                12 mth  24 mth

payment custom   

                     The business's time of payment         N/A                         2,22      1,50

                     Upper Quartile, Danish companies    0,00              0,03      0,00

                     Median, Danish companies                         0,05                0,25      0,18

                     Lower Quartile, Danish companies    1,10              1,30      1,18

                    

Tabel 2:             Month     Total   Within   Outside

The business's       From date  exp.   agreem.  agreement

payment time

                                           0               1-7        8-29      30-59  60-89   90 -

                                        days              days   days       days   days    days

                     -----------------------------------------------------------

                      1 -  3      4      4                0          0          0         0          0

                      4 -  6      6      4      1        1         0          0          0

                      7 - 12     13      8     2        3         0          0          0

 

                      1 - 12      23     16     3      4          0         0           0

                     13 - 24      15     14     1      0         0          0           0

                     -----------------------------------------------------------

Table 3:             Interval  Total   Within   Outside

The business's                  exp.   agreem.  agreement

mode of payment                        ----------------------------------------

divid. in amount     1.000                 0    1-7        8-29      30-59  60-89   90 -

last 12 months       DKK                days             days   days   days   days   days

                     -----------------------------------------------------------

                    100 -                     0          0          0          0          0           0         0

                      25 - 99                1          0          1          0          0          0          0

                      10 - 24                0          0          0           0         0          0           0

                       1 -  9                  10      9             1          0          0          0           0

                       0 -  1                  12      7             1          4          0          0          0

Export - Import **>

 

Export areas         Europe

Import areas         Europe

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Corporate Structure **>

Parent company       Angel Holding ApS (100%)

Subsidiaries         None

 

FINANCIAL INFORMATION

 

Financial data **>

Share Capital        DKK 500.000,00, paid at price 102,00. fully paid up

 

Financial period     1. January - 31. December.

Leasing commitments  In the financial statement of 2013 attention is drawn to leasing commitments.

Nomination           All financial figures stated in DKK 1.000.

Financial year                    2013             2012                 2011                 2010                 2009

Published on                 2014-05-23        2013-06-03        2012-03-23        2011-03-24        2010-04-27

Closing date                 2013-12-31        2012-12-31        2011-12-31        2010-12-31        2009-12-31

No. of months                  12                  12                     12                     12                     12

Number of employees        N/A              N/A                    N/A                  N/A                   N/A

 

<* Profit & Loss *>

Turnover                       N/A                   N/A                    N/A                   N/A                  N/A

Gross profit                  3.893                -504                   4.250               2.940                5.487

Personnel costs            -6.411               -2.431               -3.198               -3.354                -4.726

Depreciation                 -206                  -40                    0          0                     -1

Operating profit             -2.735               -2.975               1.052                -414                   760

Financial income                        0                   24               250                39                    84

Financial expenses       -1.637               -192                  -319                  -175                  -400

Financial items net         -1.637               -168                  -69       -136                  -316

Ordinary result               -4.372               -3.143               983       -549                 444

Extraordinary items         N/A                 N/A                   N/A                   N/A                   N/A

Pre-tax profit                 -4.372               -3.143               983                   -549                  445

Annual result                 -2.532               -2.358               733                   -413                  328

Dividends                                 0                       N/A                   0                      0                     0

 

<* Assets *>

Intang. fix. assets           N/A                  N/A                    N/A                  N/A                   N/A

Land and buildings                    N/A                    N/A                  N/A                   N/A                   N/A

Tang. fixed assets           81                               319                  0                       0                     0

Fin. fixed assets                       71                     N/A                    N/A                  N/A                    N/A

Fixed assets                 152                   319                    0                     0                      0

Inventories                    6.171                2.215                4.176                3.618                1.542

Debtors                        7.498                2.429                5.962                11.838              8.243

Cash in hand/bank         359                   0                      1.032                109                   766

Current assets               20.339              6.098                1.188                15.716              10.768

 

<* Liabilities *>

Share capital                  500                  500                   500                   500                   500

Revaluation reserves        N/A                N/A                   N/A                   N/A                   N/A

Equity                           -3.158                535                  1.980                1.208                1.657

Provisions                    N/A                   N/A                   N/A                   N/A                   0

Subord.loan capital                   N/A                    N/A                   N/A                  N/A                   N/A

Mortgage debt                          N/A                    N/A                   N/A                  N/A                   N/A

Long-term liab.               0                     N/A                    N/A                   N/A                  N/A

Creditors                       2.994                 1.039               2.029                1.477                2.228

Short-term liab.             23.648              5.881                9.208                14.508              9.111

 

<* Balance Sheet *>     

Balance                         20.491             6.417                11.188              15.716              10.768

 

Off. ratable value          N/A                   N/A                  N/A                   N/A                    N/A

Assessment date                      N/A                   N/A                    N/A                   N/A                   N/A

 

<* Company Ratios *>

Financial year                2013                 2012                 2011                 2010                 2009

 

Turnover/Employee        N/A                  N/A                    N/A                  N/A                   N/A

Oper.Profit/Employee     N/A                 N/A                   N/A                   N/A                   N/A

Ord. Res./Employee      N/A                  N/A                   N/A                   N/A                   N/A

Ann. Res./Employee        N/A                N/A                   N/A                    N/A                  N/A

Fixed assets/Empl.          N/A                N/A                   N/A                   N/A                   N/A

Pers. costs/Employee      N/A                 N/A                  N/A                   N/A                   N/A

Contribution ratio          N/A                   N/A                   N/A                   N/A                   N/A

Net profit ratio                N/A                  N/A                   N/A                   N/A                   N/A

Capacity ratio                0,59                  -0,20                 1,33                  0,88                  1,16

Return on investment     -13,35               -46,36               9,40                  -2,63                 7,06

Operational leverage       N/A                 N/A                   4,04                  N/A                   7,22

Wage ratio                    164,68              N/A                   75,25                114,08              86,13

Stock turnover                N/A                  N/A                   N/A                   N/A                   N/A

Asset turnover               N/A                   N/A                   N/A                   N/A                   N/A

Debtors credittime          N/A                 N/A                   N/A                   N/A                   N/A

Credittime creditors        N/A                  N/A                   N/A                   N/A                   N/A

Acid test ratio I              86,01                103,69              121,50              108,33              118,19

Acid test ratio II             59,91                66,03                76,15                83,39                101,26

Solvency ratio               -15,41               8,34                  17,70                7,69                  15,39

Return on equity I          N/A                   -587,48             49,65                -45,45               26,80

Return on equity II         N/A                   -587,48             49,65                -45,45               26,86

Zero turnover                N/A                   N/A                   N/A                   N/A                    N/A

Margin of safety            N/A                  N/A                   N/A                   N/A                   N/A

Capital ratio                  -6,32                 1,07                  3,96                  2,42                  3,31

Intrinsic value                -631,60             107,00              396,00              241,60     3        31,40

 

ADDITIONAL INFORMATION

 

Auditor(s)           Pricewaterhousecoopers Statsautoriseret Revisions - P/S (13-09)

 

Bankers              2470

                    Nordea Bank Danmark A/S Kolding Afdeling

                     Kolding Åpark 2, 6000 Kolding

                     79 33 66 66

Historical Data **>

Established              2005

Date Incorporated    2. March 2005

Registered              10. March 2005

Date Art. of assoc.  15. March 2014

Historical data      The company merged on 14-05-2014 with

                    The Top-Rated Company, ApS (CVR 26160596), the

                     registered company being the continuing one.

                     The company merged on 14-05-2014 with

                     Nielsen & Co. Tekstiler ApS (CVR 17553771), the

                     registered company being the continuing one.

>Management history   Jesper Poulsen, General manager (Resigned 11-06)

Board history        Hans Ole Willemoes Madsen, Member of the board

                     - (Resigned 10-05)

                     Anker Henrik Møller, Member of the board (Resigned

                     - 11-03)

                     Jesper Poulsen, Member of the board (Resigned

                     - 12-05)

>Auditing history     PriceWaterhouseCoopers Services Statsautoriseret

                     - Revisions A/S (05-03/11-09)

                     Pricewaterhousecoopers Statsautoriseret Revisions

                     - P/S (11-09/11-09)

                     PriceWaterhouseCoopers Services Statsautoriseret

                     - Revisions A/S (11-09/11-10)

                     Pricewaterhousecoopers Statsautoriseret Revisions

                     - P/S (11-10/12-12)

                     BDO Statsautoriseret Revisionsaktieselskab- (12-12/13-09)

Other company names **>

Business names       Nielsen & Co. Tekstiler A/S

The Top-Rated Company,A/S

 

Events **>

Below you will find a presentation of the

registered events for the company for the latest

six months, a maximum of 25 events are shown.

 

Description

> January 2015        No. of employee-category changed from 5-9 to 10-19.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.61

UK Pound

1

Rs.93.49

Euro

1

Rs.71.38

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

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.