MIRA
INFORM REPORT
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Report Date : |
25.07.2007 |
IDENTIFICATION DETAILS
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Name : |
GEELONG LEATHER PTY LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
8 August 2002 |
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Legal Form : |
Private Limited Liability Company |
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: |
GEELONG LEATHER
PTY LTD |
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AUSTRALIAN
COMPANY NUMBER: |
101 640 395 |
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AUSTRALIAN
BUSINESS NUMBER: |
54 101 640 395 |
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OPERATING
ADDRESS: |
LARA, VIC 3212 |
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REGISTERED
ADDRESS: |
Tower A, Zenith Centre, CHATSWOOD, NSW
2067 |
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OTHER TRADING
NAMES: |
Nil |
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TELEPHONE
NUMBER: |
(03) 5274 2165 |
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FAX NUMBER: |
(03) 5274 2161 |
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WEB SITE
ADDRESS: |
Nil |
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DATE OF
INCORPORATION: |
8 August 2002 – Incorporated in |
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CHANGE OF NAME: |
19 December 2002 - To present name. |
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PAID CAPITAL: |
$12 in $1 shares. |
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DIRECTORS: |
JEREMY HASSALL ANDREW SIMON
HASSALL |
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SHAREHOLDERS: |
Refer HISTORY |
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SECRETARY: |
PETER ALAN
HASSALL |
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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
LORIS H. HASSALL PTY LTD
ACTIVITIES
Details pertaining to the nature of the subject’s operations have not
been ascertained at this time.
Operations are conducted from premises situated at the heading address.
The number of employees have not been ascertained.
HISTORY
The subject was incorporated in
Australian Company Number: 101 640 395.
Paid capital $12 in 12 shares paid to $1 each.
Shares are held by:
LORIS H. HASSALL PTY LTD 12
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.
By virtue of the shareholding the subject is a wholly owned subsidiary
of Loris H. Hassall Pty Ltd. This company was incorporated in
The subject has the associate company, Loris H Hassall Trading Pty Ltd.
This company was incorporated in
Details pertaining to the company history and antecedent information on
the directors have not been ascertained.
DIRECTORS
JEREMY HASSALL was born on 2
April 1971 and was appointed to the board of directors on 28 November 2002.
ANDREW SIMON
HASSALL was born on 29 July 1969 and was appointed to the board of directors on
8 August 2002.
Company Secretary, Peter Alan
Hassall, was appointed to his position on 14 October 2004.
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 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:
Nothing has been recorded to date in 2007.
On 20 July 2006 to Benchmark Debtor Finance Vic for Factored Account.
On 3 July 2006 to Macquarie CFL Comm Lease Vic for Hire Purchase for an
amount of $35,500.
On 29 June 2006 to WBC Equipment Finance New Business Vic for Hire
Purchase for an amount of $39,000.
On 7 April 2006 to GE Commercial Finance for Hire Purchase for an amount
of $87,125.
On 15 December 2005 to GE Commercial Finance for Leasing for an amount
of $44,364.
On 7 October 2005 to GE Commercial Finance for Leasing for an amount of
$44,364.
On 18 July 2005 to GE Commercial Finance for Leasing for an amount of
$44,364.
On 7 July 2005 to GECOMM EF EF for Leasing for an amount of $182,000.
On 7 June 2004 to GE Capital Australia Ltd NSW for Lending Proposal.
REGISTERED CHARGES
The following Registered Charge has been recorded over the subject’s
assets:
On 11 June 2003, Fixed and Floating Charge to Westpac Banking
Corporation, ASIC Charge No. 949627.
RECORDED ACTIONS
Nothing of an adverse nature has been recorded against the subject.
INVESTIGATION
A number of attempts have been made to contact the subject, however on
each occasion it has been advised they are unavailable.
Messages have been left requesting they contact this office and any
additional information 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
Paid capital $12 in 12 shares paid to $1 each.
Full details in relation to the company have not been ascertained.
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%)