MIRA
INFORM REPORT
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Report Date : |
17.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
LADELLE PTY LTD |
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Registered Office : |
20 Rocco Drive, Scoresby, VIC 3179 |
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Country : |
Australia |
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Date of Incorporation : |
19 June 1989 |
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Legal Form : |
Proprietary Company, Limited By Shares |
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Line of Business : |
Importer and wholesaler of bed linen and napery. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REGISTERED NAME: |
LADELLE PTY LTD |
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AUSTRALIAN
COMPANY NUMBER: |
007 252 593 |
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AUSTRALIAN
BUSINESS NUMBER: |
22 007 252 593 |
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OPERATING
ADDRESS: |
20 Rocco Drive, SCORESBY, VIC
3179 |
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REGISTERED
ADDRESS: |
20 Rocco Drive, SCORESBY, VIC
3179 |
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OTHER TRADING
NAMES: |
Rod Groves Textiles |
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TELEPHONE
NUMBER: |
(03) 9753 2444 |
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FAX NUMBER: |
(03) 9757 2455 |
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WEB SITE
ADDRESS: |
www.ladelle.com.au |
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DATE OF
INCORPORATION: |
19 June 1989 – Incorporated in Victoria |
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CHANGE OF NAME: |
Nil |
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PAID CAPITAL: |
$20,000 in $1 shares. |
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DIRECTOR: |
JAMES ALLEN
GADSDEN 18 Barnsbury Road, BALWYN, VIC 3103 |
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SHAREHOLDERS: |
Refer HISTORY |
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SECRETARY: |
JAMES ALLEN
GADSDEN |
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AUDITORS: |
Not shown |
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REGISTERED
CHARGES: |
Refer REGISTERED CHARGES |
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PAYMENTS: |
30 days |
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LEGAL ACTIONS /
DEFAULTS: |
Nil |
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EMPLOYEES: |
50 |
PARENT COMPANY
LADELLE HOLDINGS PTY LIMITED
ACTIVITIES
The subject is an importer and wholesaler of bed linen and napery.
Ladelle was established in
1985 to supply quality home textile products throughout Australia and New
Zealand.
Ladelle Australia's Head
Office and Warehouse of Ladelle Australia is located in Scoresby, in the south
eastern suburbs of Melbourne, with sales offices throughout Australia. The New
Zealand Head Office and warehouse are located in Albany, Auckland.
The subject employs 50 in activities.
HISTORY
The subject was incorporated in Victoria on 19 June 1989 as Ladelle Pty Ltd, being an Australian
Proprietary Company, Limited By Shares.
Australian Company Number: 007 252 593.
Paid capital $20,000 in 20,000 shares paid to $1 each.
Shares are held by:
LADELLE HOLDINGS PTY LTD 20,000
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.
Operations of the company were commenced in 1985.
DIRECTOR
JAMES ALLEN
GADSDEN was born on 14 December 1970 and was appointed to the board of directors
on 12 December 2002. He is fully active in the day to day operations of the
company. Mr Gadsden is also the Company Secretary, having been appointed to
this position on 12 December 2002.
BANK
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
MOUNT WAVERLEY,
VIC 3149
The bank does not hold a Registered Charge over company assets.
TRADING
Following are details of a trade survey undertaken in April 2007:
- This account
averages $9,000 per month. The terms of the account are 30 days with
payment being met in 30 days. The account was opened in December 2004.
There are no problems.
- This supplier
has declined to provide references as a matter of company policy.
As the subject is an importer, the company is not a major seeker of
local commercial credit.
FINANCE
The subject has lodged financial accounts with
the Australian Securities and Investments Commission.
disclose the following inquiries in relation
to finance applications:
Nothing has been recorded to date in 2007 or during 2006 and 2005.
On 25 August 2004 to American Express New Accounts NSW for Credit Card.
On 2 June 2003 to Hunter Premium Funding Vic for Premium Finance.
On 23 April 2003 to Suncorp-Metway Leasing for Leasing for an amount of
$34,731.
On 22 March 2002 to Sanwa Australia Leasing Vic for Hire Purchase for an
amount of $13,530.
On 28 February 2002 to Sanwa Australia Leasing Vic for Hire Purchase for
an amount of $13,530.
On 20 November 2001 to BMW Group Financial Services for Lending Proposal
for an amount of $20,000.
REGISTERED CHARGES
The following Registered Charge has been recorded over the subject’s
assets:
On 24 February 2004, Fixed and Floating Charge to BOS International,
ASIC Charge No. 1022496.
RECORDED ACTIONS
Nothing of an adverse nature has been recorded against the subject.
INVESTIGATION
An interview was conducted with Mr Mark Rohrlach, Financial Controller,
in April 2007. At this time he confirmed operational and trading details,
however declined all financial information as a matter of company policy.
He did advise that premises at the heading address are leased.
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 Victoria on 19 June 1989 as Ladelle Pty Ltd, being an Australian
Proprietary Company, Limited By Shares.
Paid capital $20,000 in 20,000 shares paid to $1 each.
The subject is an importer and wholesaler of bed linen and napery.
One supplier contacted has reported amounts of $9,000 per month being
met in 30 days on 30 day terms and is a no problem account.
RATING
EXPLANATIONS
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RATING |
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)