MIRA
INFORM REPORT
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Report Date : |
17.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
WHOLESALE WINE SERVICES PTY LTD
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Registered Office : |
253 Johnston Street, Abbotsford, VIC 3067 |
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Country : |
Australia |
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Date of Incorporation : |
29 May 1989 |
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Legal Form : |
Proprietary Company, Limited By Shares |
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Line of Business : |
Wine distribution business that represent a portfolio of boutique and
medium size wineries across Australia and New Zealand. |
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 |
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 : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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REGISTERED NAME: |
WHOLESALE WINE
SERVICES PTY LTD |
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AUSTRALIAN
COMPANY NUMBER: |
007 229 290 |
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AUSTRALIAN
BUSINESS NUMBER: |
66 007 229 290 |
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OPERATING
ADDRESS: |
253 Johnston Street, ABBOTSFORD, VIC
3067 |
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REGISTERED
ADDRESS: |
253 Johnston Street, ABBOTSFORD, VIC
3067 |
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OTHER TRADING
NAMES: |
Winestock |
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TELEPHONE
NUMBER: |
(03) 9418 7899 |
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FAX NUMBER: |
(03) 9486 0755 |
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WEB SITE
ADDRESS: |
www.winestock.com.au |
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DATE OF
INCORPORATION: |
29 May 1989 – Incorporated in Victoria |
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CHANGE OF NAME: |
22 January 2001 - To present name. |
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PAID CAPITAL: |
$2 in $1 shares. |
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DIRECTORS: |
ALAN NELSON 15 Victor Avenue, KEW, VIC 3101 |
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SHAREHOLDERS: |
Refer HISTORY |
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SECRETARY: |
ALAN NELSON |
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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: |
The number of employees have been declined. |
PARENT COMPANY
NIL
ACTIVITIES
Winestock is a small,
dynamic wine distribution business that represent a portfolio of boutique and
medium size wineries across Australia and New Zealand.
Full details pertaining to the nature of the subject’s operations have
been declined.
Operations are conducted from premises situated at the heading address.
The number of employees have been declined.
HISTORY
The subject was incorporated in Victoria on 29 May 1989 as Probon Pty Ltd, changing name to A. Nelson Pty Ltd on 2 December 1993
and adopting the present name on 22 January 2001, being an Australian
Proprietary Company, Limited By Shares.
Australian Company Number: 007 229 290.
Paid capital $2 in 2 shares paid to $1 each.
Shares are held by:
HARRIET MUNRO NELSON 1
ALAN NELSON 1
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.
Details pertaining to the company history and antecedent information on
the directors have been declined.
Trading style, Winestock Fine Wine Wholesale, was registered in Victoria
on 15 May 2003 with the subject as the proprietor company. Operations commenced
on 15 July 2003, Registered Number: B1690215G.
The business name is due for renewal on 15 May 2009.
DIRECTOR
ALAN NELSON was born on 14
February 1960 and was appointed to the board of directors on 4 November 1993.
He is fully active in the day to day operations of the company. Mr Nelson is
also the Company Secretary, having been appointed to this position on 4
November 1993.
BANK
WESTPAC BANKING CORPORATION
The bank holds a Registered Charge over company assets. Please refer to
the REGISTERED CHARGE section for
details.
TRADING
Trade references in relation to the subject have been declined.
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:
Nothing has been recorded to date in 2007.
On 31 July 2006 to Suncorp Leasing for Hire Purchase for an amount of
$32,650.
On 26 June 2006 to Suncorp Leasing for Hire Purchase for an amount of
$240,000.
On 18 April 2006 to BOQ Equipment Finance Vic for Hire Purchase for an
amount of $70,000.
On 10 January 2006 to Suncorp Leasing for Hire Purchase for an amount of
$35,000.
On 22 June 2005 to Suncorp Leasing for Hire Purchase for an amount of
$16,004.
On 20 January 2005 to BOQ Equipment Finance Vic for Hire Purchase for an
amount of $110,000.
REGISTERED CHARGES
The following Registered Charges have been recorded over the subject’s
assets:
On 21 July 2006, Fixed Charge to Creditline Pty Ltd, ASIC Charge No.
1328748.
On 10 April 2002, Fixed and Floating Charge to Westpac Banking
Corporation, ASIC Charge No. 855873.
RECORDED ACTIONS
Nothing of an adverse nature has been recorded against the subject.
INVESTIGATION
An interview was conducted with the Financial Controller in April 2007. At
this time he declined all information in relation to the subject’s activities,
trading and financial position, stating that if the name of the enquirer is
made known consideration would be given to providing the relevant details.
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 29 May 1989 as Probon Pty Ltd, changing name to A. Nelson Pty Ltd on 2 December 1993
and adopting the present name on 22 January 2001, being an Australian
Proprietary Company, Limited By Shares.
Paid capital $2 in 2 shares paid to $1 each.
Winestock is a small,
dynamic wine distribution business that represent a portfolio of boutique and
medium size wineries across Australia and New Zealand.
All details in
relation to the company have been declined. 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
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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%)