MIRA INFORM REPORT

 

 

Report No. :

344236

Report Date :

08.10.2015

 

IDENTIFICATION DETAILS

 

Name :

SPIKES & SPARROW INTERNATIONAL B.V.

 

 

Registered Office :

De Vlasman 22 6669ND Dodewaard

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

01.07.1998

 

 

Com. Reg. No.:

10044601

 

 

Legal Form :

Private Company

 

 

Line of Business :

The wholesale and import of consumer goods, provision of guidance and counseling and the provision of other (commercial) services.

 

 

No. of Employees :

4

 

 

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 :

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)

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

 

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                        Spikes & Sparrow International B.V.

Operative address                    De Vlasman 22

6669ND Dodewaard

Netherlands

 

Legal form                               Private Company

Registration number                KvK-nummer: 10044601

VAT-number                             814414928

 

 

Year

2014

Mutation

2013

Mutation

2012

Fixed assets

137.814

 

 

-100,00

4.574

Total receivables

60 .339

-87,83

495.603

318,20

118.510

Total equity

160 .778

-36,50

253.185

 

253.185

Short term liabilities

221. 984

-73,87

849.398

27,17

667.936

Working capital

22.964

-90,93

253.185

1,84

248.611

Quick ratio

1,07

-3, 60

1,11

-15,91

1,32

 

 

 

 

Contact information

 

Company name                        Spikes & Sparrow International B.V.

Trade names                            Spikes & Sparrow International B.V.

Orange Creations

 

Operative address                    De Vlasman 22

6669ND Dodewaard

Netherlands

 

Correspondence address         De Vlasman 22

6669ND Dodewaard

Netherlands

 

Telephone number                   0488420860

Fax number                              0488420848

Email address                          bags@spikesandsparrow.com

 

 

Registration

 

Registration number                KvK-nummer: 10044601

Branch number                        000017769051

VAT-number                             814414928

 

Status                                      Active

First registration company register 2005-05-31

Memorandum                           2005-05-30

Establishment date                  1998-07-01

 

Legal form                               Private Company

Legal person since                   2008-06-16

Last proposed admendment     2008-06-16

 

Issued placed capital               EUR 18.000

Paid up share capital               EUR 18.000

 

 

Activities

 

SBI 46901:                                Non-specialised wholesale of consumer goods

Exporter                                   Yes

Importer                                   Yes

Goal                                         The wholesale and import of consumer goods, provision of guidance and counseling and the provision of other (commercial) services. Management Company

 

 

Relations

 

Shareholders                           Vecktis International B.V.

Costeruslaan 6

1217JT HILVERSUM

Netherlands

Registration number: 62008889

Percentage: 100%

Companies on same address   HeijTech B.V.

Registration number: 55420001

D. van Hunnik Auto Service

Registration number: 09206856

Lennods International B.V.

Registration number: 58645489

 

Orange Creations B.V.

Registration number: 58645233

 

 

Management

 

Active management                  Vecktis International B.V.

Costeruslaan 6

1217JT HILVERSUM

Netherlands

Registration number: 62008889

Competence: Fully authorized

Function: Manager

Starting date: 2015-07-01

 

 

Employees

 

Total according to the Chamber of Commerce                         4

 

Year

 

2015

2014

2013

2012

2011

Total

 

4

4

3

3

2

 

 

 

Payments

 

Description                                          Slow but correct

Key figures

 

Year

2014

2013

2012

2011

2010

Quick ratio

1,07

1,11

1,32

1,58

7,45

Current ratio

1,10

1,30

1,37

2,37

8,83

 

Working capital/ balance total

0,06

0,23

0,27

0,57

0,84

Equity / balance total

0,42

0,23

0,27

0,59

0,89

Equity / Fixed assets

1,17

 

55,35

27,69

18,46

Equity / liabilities

0,72

0,30

0,38

1,42

8,27

Balance total / liabilities

1,72

1,30

1,38

2,42

9,27

 

Working capital

22.964

253.185

248.611

244.040

239.469

Equity

160.778

253.185

253.185

253.185

253.185

Mutation equity

-36,50

 

 

 

 

Mutation short term liabilities

-73,87

27,17

274,96

482,10

31,58

 

 

Summary

 

The 2014 financial result structure is a postive working captial of 22.964 euro, which is in agreement with 6 % of the total assets of the company.

The working capital has diminished with -90.93 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined.

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

The current ratio of the company in 2014 was 1.1. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.

The quick ratio in 2014 of the company was 1.07. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

The 2013 financial result structure is a postive working captial of 253.185 euro, which is in agreement with 23 % of the total assets of the company.

The working capital has increase with 1.84 % compared to previous year. The ratio with respect to the total assets of the company has however, declined.

The improvement between 2012 and 2013 has mainly been caused by a current liabilities reduction.

The current ratio of the company in 2013 was 1.3. 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 1.11. A company with a Quick Ratio of more than 1 can 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                        Spikes & Sparrow International B.V.

De Vlasman 22

6669ND Dodewaard

Netherlands

Registration number: 10044601

 

 

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

 

 

4.574

9.145

13.716

Tangible fixed assets

137.814

 

 

 

 

Fixed assets

137.814

 

4.574

9.145

13.716

 

 

 

 

 

 

Total stock

7.550

158.716

34.516

141.240

42.043

Total receivables

60.339

495.603

118.510

69.332

139.237

Liquid funds

177.059

448.264

763.521

211.601

88.791

Current assets

244.948

1.102.583

916.547

422.173

270.071

Total assets

382.762

1.102.583

921.121

431.318

283.787

 

 

 

 

 

 

Issued capital

18.000

18.000

18.000

18.000

18.000

Share premium reserve

 

164.943

164.943

164.943

164.943

Other reserves

142.778

70.242

70.242

70.242

70.242

 

 

 

 

 

 

Total reserves

142.778

235.185

235.185

235.185

235.185

Total equity

160.778

253.185

253.185

253.185

253.185

 

 

 

 

 

 

Short term liabilities

221.984

849.398

667.936

178.133

30.602

Total short and long term liabilities

221.984

849.398

667.936

178.133

30.602

Total liabilities

382.762

1.102.583

921.121

431.318

283.787

 

 

Summary

 

The total assets of the company decreased with -65.28 % between 2013 and 2014.

Assets reduction is explained by a Net Worth decrease of -36.5 %, and an indebtedness reduction of -73.87 %.

In 2014 the assets of the company were 36.01 % composed of fixed assets and 63.99 % by current assets. The assets are being financed by an equity of 42 %, and total debt of 58 %.

The total assets of the company increased with 19.7 % between 2012 and 2013.

The asset growth is explained by a reduction of 27.17 % of the company's indebtness, this while, the Net Worth remains unchanged.

 

 

 

 

 

 

Analysis

 

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

Region                                     Nijmegen-Rivierenland

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

In the region Nijmegen-Rivierenland 4613 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 Nijmegen-Rivierenland 87 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 Nijmegen-Rivierenland is normal

 

 

Publications

 

Deposits                                   25-06-2015: De jaarrekening over 2014 is gepubliceerd.

25-06-2015: De jaarrekening over 2014 is gepubliceerd.

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

12-06-2013: De jaarrekening over 2012 is gepubliceerd.

15-06-2012: De jaarrekening over 2011 is gepubliceerd.

11-10-2011: De jaarrekening over 2010 is gepubliceerd

Functions                                 03-07-2015: Per 01-07-2015 is bestuurder 62008889 Vecktis International B.V. in  functie getreden.

03-07-2015: Per 01-07-2015 is bestuurder 09151595 Scopa B.V. uit functie getreden.

 

 

Company structure

 

Relations                                  4

 

Company

Registration number

Vecktis International B.V. (HILVERSUM)

62008889

| - - Spikes & Sparrow International B.V. (Dodewaard)

10044601

| - - Lennods International B.V. (DODEWAARD)

58645489

| - - Orange Creations B.V. (DODEWAARD)

58645233

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.26

UK Pound

1

Rs.99.53

Euro

1

Rs.73.47

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

 

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.