MIRA
INFORM REPORT
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Report Date : |
06.08.2007 |
IDENTIFICATION DETAILS
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Name : |
MAJERS PTY LTD |
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Registered Office : |
1, |
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Country : |
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Financials (as on) : |
30.06.2006 |
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Date of Incorporation : |
20.12.1994 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer of Seller of ceramic wall and floor tiles. |
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 : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Registered Name
MAJERS PTY LTD
INCORPORATED
20 December 1994
REGISTERED ADDRESS
1,
SHARE CAPITAL
$30,000
SHAREHOLDERS
MAJER, Bredan Patrick Holds
20,000
MAJER, Alojzis (Lois) Holds
10,000
DIRECTORS
MAJER, Alojzis (Lois)
17,
MAJER, Brendan Patrick
MOOROOBOOL, QLD 4870
MAJER, Anthony Michael
2312 Refinery Pde
NEW FARM, QLD 4005
SECRETARY
MAJER, Anthony Michael
2312 Refinery Pde
NEW FARM, QLD 4005
REGISTERED CHARGES
Registered Charge Number :
692881
Date Registered :
29.04.1999
Status :
Fixed and floating
Creditor :
Commonwealth Bank
Registered Charge Number :
685486
Date Registered :
04.03.1999
Status :
Fixed and floating
Creditor :
Commonwealth Bank
BUSINESS STRUCTURE
TRADING ADDRESS 158
Lindum Rd
LYTTON,
QLD 4178
TELEPHONE (617)
3290 0879
FACSIMILE (617)
3808 4541
TRADING STYLE
MAJERS TILES
BRANCHES
STRATHPINE, QLD
UNDERWOOD, QLD
GOLD COAST, QLD
BOKARINA, QLD
TOWNSVILLE, QLD
BANK
COMMONWEALTH BANK OF
EMPLOYEES
70
BACKGROUND
The subject was incorporated in
OPERATIONS
The subject operates in the import and sale of ceramic wall and floor
tiles.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of the of Credit Advantage Limited on 30 July 2007 failed to
trace any litigation listed against the subject at that date.
FINANCES
From the subjects most recently lodged financial statements, it is noted
that for the financial year ended 30 June 2006 the subject recorded revenue of
$17,826,400, which resulted in an operating loss before tax of $280,187 and an
operating loss after tax of $201,343.
Below is a summary of the subject’s income results for the past two
financial years.
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Majers Pty Ltd |
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As at 30 June 2006 |
As at 30 June 2005 |
Change (%) |
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Revenue |
$17,826,400 |
$18,983,354 |
-6.09% |
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Profit b/tax |
($280,187) |
$1,070,617 |
-126.17% |
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Profit a/tax |
($201,343) |
$747,561 |
-126.93% |
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Net Profit Margin |
-1.13% |
3.94% |
-5.07% |
During fiscal 2006, the subject recorded Net Cashflows from operating
activities totaling $534,840.
As at 30 June 2006, the subject recorded total current assets of
$7,269,262. They included cash of $3,800 receivables of $1,483,711 and
inventories of $5,754,558.
Current liabilities at the same date totaled $6,135,071 and included
payables of $4,790,584 and borrowings of $1,268,561.
As at 30 June 2006, the subject recorded Working Capital of $1,134,191
and a current ratio of 1.18 to 1 indicating satisfactory liquidity levels.
Net Assets totaled $2,253,881 as at 30 June 2006. At this date, the
subject further recorded a Debt to Equity ratio of 3.21 to 1.
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Majers Pty Ltd |
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As at 30 June 2006 |
As at 30 June 2005 |
Change (%) |
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Revenue |
$17,826,400 |
$18,983,354 |
-6.09% |
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Profit b/tax |
($280,187) |
$1,070,617 |
-126.17% |
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Profit a/tax |
($201,343) |
$747,561 |
-126.93% |
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Net Profit
Margin |
-1.13% |
3.94% |
-5.07% |
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Current Assets |
$7,269,262 |
$7,200,909 |
0.95% |
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Non Current Assets |
$2,228,362 |
$1,302,117 |
71.13% |
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Total Assets |
$9,497,624 |
$8,503,026 |
11.70% |
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Current Liabilities |
$6,135,071 |
$5,708,667 |
7.47% |
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Non Current Liabilities |
$1,108,672 |
$393,576 |
181.69% |
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Total
Liabilities |
$7,243,743 |
$6,102,243 |
18.71% |
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Net Assets |
$2,253,881 |
$2,400,783 |
-6.12% |
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Working Capital |
$1,134,191 |
$1,492,242 |
-23.99% |
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Current Ratio |
1.18 |
1.26 |
-6.07% |
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Debt to Equity |
3.21 |
2.54 |
26.44% |
TRADE SURVEY
During the current investigation, contact with the subject’s principals was
unable to be established.
Subsequently details pertaining to the company’s suppliers were unable
to be obtained and a trade survey could not be conducted.
SUMMARY
The subject was incorporated in
for the financial year ended 30 June 2006 the subject recorded revenue
of $17,826,400, which resulted in an operating loss before tax of $280,187 and
an operating loss after tax of $201,343.
During fiscal 2006, the subject recorded Net Cashflows from operating
activities totaling $534,840.
As at 30 June 2006, the subject recorded Working Capital of $1,134,191
and a current ratio of 1.18 to 1 indicating satisfactory liquidity levels.
Net Assets totaled $2,253,881 as at 30 June 2006.
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%)