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MIRA INFORM REPORT
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Report Date : |
1st May 2006 |
IDENTIFICATION DETAILS
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Name : |
BICKFORDS (AUSTRALIA) PTY LTD |
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Registered Office : |
4 Angas Street, Kent
Town, S.A. 5067 |
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Date of Incorporation : |
7
August 1991 |
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Legal Form : |
Proprietary
Company, Limited By Shares |
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Line of Business : |
Manufacturer
of soft drinks. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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REGISTERED NAME: |
BICKFORDS (AUSTRALIA) PTY LTD |
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AUSTRALIAN COMPANY
NUMBER: |
053 240 261 |
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AUSTRALIAN BUSINESS
NUMBER: |
Not on data base |
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OPERATING ADDRESS: |
162 Cross Keys Road, SALISBURY SOUTH, S.A. 5106 |
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REGISTERED ADDRESS: |
4 Angas Street, KENT TOWN, S.A. 5067 |
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OTHER TRADING NAMES: |
A.W. Bickford & Sons |
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TELEPHONE NUMBER: |
(08) 8182 1888 |
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FAX NUMBER: |
(08) 8182 1899 |
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WEB SITE ADDRESS: |
www.bickfords.net |
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DATE OF
INCORPORATION: |
7 August 1991 – Incorporated in South Australia |
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CHANGE OF NAME: |
22 July 1998 - To present name. |
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PAID CAPITAL: |
$2 in $1 shares. |
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DIRECTOR: |
ANGELO KOTSES 70 Pennington Terrace, NORTH ADELAIDE, S.A. 5006 |
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SHAREHOLDERS: |
Refer HISTORY |
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SECRETARY: |
ANGELO KOTSES |
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AUDITORS: |
Not shown |
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REGISTERED CHARGES: |
Refer REGISTERED CHARGES |
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PAYMENTS: |
Refer TRADING |
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LEGAL ACTIONS / DEFAULTS: |
Nil |
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EMPLOYEES: |
Not ascertained |
PARENT COMPANY
NIL
ACTIVITIES
The Bickford tradition began in 1839, when William Bickford opened an
apothecary in Adelaide, South Australia.
Quality was a hallmark of Bickford's products, a tradition reflected in the
international award winning cordials and soft drinks that have been
manufactured since 1874.
Today, Bickford's Australia is a world class beverage manufacturer focusing on
individually branded products that fill customer needs for quality and brand
recognition
Since 1991, the Bickford's range of products has grown significantly,
beginning with an expansion of cordial varieties. This was followed in 1992 by
the carbonated range of Old Style Sodas and the introduction of pure water
products.
In October 1993, Bickford's launched Spritz, a range of clear, fruit flavoured
carbonated drinks. The brand was an instant success and is now distributed
through all Australian supermarkets and convenience stores, as well as
internationally.
In September 1995, a new brand Esprit, with 5% fruit juice content, was
launched, offering a premium adult soft drink with all natural ingredients. The
Esprit range expanded the Bickford's profile into the beverage category and is
the company's most wide ranging exported product.
Since this time, Bickford's has also introduced the Classic Juice and Nectar
range of juices and drinks, together with the expansion of the pure water range
with AquaPura Fruit Splash.
Today, the product range includes premium adult oriented carbonated soft
drinks, sodas, fruit juices, cordials, essences and pure & flavoured
waters.
These premium products are all packaged in glass apart from the pure water
range, which is packaged in PET.
The company's objective is to develop national and international brands
recognised as quality products targeting the premium sector of the market.
The head office and manufacturing facilities for Bickford's Australia are
located in Adelaide, South Australia.
Operations are conducted from premises situated at the heading address.
HISTORY
The subject was incorporated in South Australia on 7 August 1991 as Filur Pty Ltd, changing name to Lloyd Products Pty Ltd on 6 November 1991 and adopting the present name on 22 July 1998, being an Australian Proprietary Company, Limited By Shares.
Australian Company Number: 053 240 261.
Paid capital $2 in 2 shares paid to $1 each.
Shares are held by:
ANGELO KOTSES AND OTHERS 2
The above information is in accordance with the last Company Statement Annual lodged with the Australian Securities and Investments Commission and compiled at report date.
William Bickford and his wife Anne Margaret arrived in South Australia
from England in 1839, three years after South Australia was proclaimed. Soon
after his arrival he opened an apothecary in Hindley Street, the centre of
trade in early Adelaide.
Bickford's was a major manufacturer and supplier of pharmaceutical and
chemical products to the South Australian and Australian markets for the
remainder of the nineteenth and early twentieth centuries.
After William Bickford died in 1850, Anne Margaret, carried on the
business until 1863 when she, in partnership with her sons Harry & William,
established AM Bickford & Sons.
In 1874, after the acquisition of the South Australian Cordial and
Aerated Water Factory, the company began producing superior, award-winning
cordials and aerated drinks, including the now famous Bickford's Lime Juice
Cordial.
Bickford's superior products won prize medals at international
exhibitions in Great Britain and France.
In 1920, the production of Bickford's Coffee
and Chicory Essence began. This product won the highest award in the
All-Australian Exhibition in 1930.
Bickford's Coffee and Chicory Essence, together with the cordial range,
has been sold in South Australia since that time, and is now established
Australia wide.
Trading style, A.M. Bickford & Son, is registered in South Australia with the subject being appointed as the proprietor company on 4 September 1991. Registered Number: 0330971P.
DIRECTOR
ANGELO KOTSES was born on 19 December 1960 and was appointed to the board of directors on 24 December 1992. He is fully active in the day to day operations of the company. He is also the Company Secretary, having been appointed to this position on 7 August 1998.
BANK
COMMONWEALTH BANK OF AUSTRALIA
The bank holds two Registered Charges over company assets. Please refer to the REGISTERED CHARGE section for details.
TRADING
Trade references in relation to the subject have not been obtained.
FINANCE
Due to amendments to the Corporations Law by the First Corporate Law Simplification Act 1995, subject is not required to lodge financial statements with the Australian Securities & Investment Commission.
disclose the following inquiries in relation to finance applications:
On 26 July 2002 to Hunter Premium Funding Vic for Premium Finance.
On 29 June 2001 to Hunter Premium Funding Vic for Premium Finance.
Nothing further has been recorded.
REGISTERED CHARGES
The following Registered Charges have been recorded over the subject’s assets:
On 30 July 2004, Fixed and Floating Charge to Commonwealth Bank Of Australia, ASIC Charge No. 1087015.
On 12 September 2003, Fixed and Floating Charge to Commonwealth Bank Of Australia, ASIC Charge No. 976757.
Should you require further details in relation
to the above Charges a Registered Charge Search can be undertaken.
RECORDED ACTIONS
Nothing of an adverse nature has been recorded against the subject.
INVESTIGATION
Attempts have been made to contact the Financial Controller in April 2006, however it has been advised he is currently away. He is the only person authorised to provide information on the company.
A message has been left requesting he contact this office on his return and any additional information that is received will be sent to you as an addendum to this report.
Enquiries made with trade sources failed to trace any additional information in relation to the subject.
A Land Titles Search has not been undertaken to ascertain what land, if any, stands in the subject’s name. This can be undertaken on request.
CONCLUSION
The subject was incorporated in South Australia on 7 August 1991 as Filur Pty Ltd, changing name to Lloyd Products Pty Ltd on 6 November 1991 and adopting the present name on 22 July 1998, being an Australian Proprietary Company, Limited By Shares.
Paid capital $2 in 2 shares paid to $1 each.
Today, Bickford's Australia is a world class beverage manufacturer
focusing on individually branded products that fill customer needs for quality
and brand recognition
Full details in relation to the company have not been ascertained. If dealing with the subject on a credit basis, caution would be recommended until further details are obtained or the account is proven.
RATING EXPLANATIONS
RATING
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STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |