MIRA
INFORM REPORT
|
Report Date : |
12.03.2007 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
Ground Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
20 September 1990 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Believed to be an importer and distributor of precious gems and
jewellery. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
REGISTERED NAME: |
|
|
|
|
|
REGISTERED
NUMBER: |
486177 |
|
|
|
|
OPERATING
ADDRESS: |
Ground Floor, Parnell, |
|
|
|
|
REGISTERED
ADDRESS: |
Ground Floor, Parnell, |
|
|
|
|
OTHER TRADING
NAMES: |
Nil |
|
|
|
|
TELEPHONE
NUMBER: |
(09) 377 3855 |
|
|
|
|
FAX NUMBER: |
(09) 373 3647 |
|
|
|
|
WEB SITE
ADDRESS: |
Nil |
|
|
|
|
DATE OF
INCORPORATION: |
20 September 1990 – Incorporated in |
|
|
|
|
CHANGE OF NAME: |
Nil |
|
|
|
|
PAID CAPITAL: |
$120 in $1 shares. |
|
|
|
|
DIRECTORS: |
BRENDAN DEREK
STUBBS 53A Orakei, PETER JOHN
WHITING 23A Parnell, |
|
|
|
|
SHAREHOLDERS: |
Refer HISTORY |
|
|
|
|
SECRETARY: |
Not shown |
|
|
|
|
AUDITORS: |
Not shown |
|
|
|
|
REGISTERED
CHARGES: |
Refer REGISTERED CHARGES |
|
|
|
|
PAYMENTS: |
Refer TRADING |
|
|
|
|
LEGAL ACTIONS /
DEFAULTS: |
Nil |
|
|
|
|
EMPLOYEES: |
The number of employees have been declined. |
PARENT COMPANY
NIL
ASSOCIATE COMPANIES
BRENDAN STUBBS LIMITED
ACTIVITIES
The subject is believed to be an importer and distributor of precious
gems and jewellery.
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
Registered Number: 486177.
Paid capital $120 in 120 shares paid to $1 each.
Shares are held by:
PETER JOHN WHITING }
JANET GRAHAM WHITING }
JOINTLY 55
WAYNE DEREK ANDERSON }
BRENDAN STUBBS LIMITED 45
PETER JOHN WHITING 11
BRENDAN DEREK STUBBS 1
The above information is in accordance with the last Annual Return
lodged with the New Zealand Companies Office on 29 July 2006 and compiled at
report date.
Details pertaining to the company history and antecedent information on
the directors have been declined.
DIRECTORS
BRENDAN DEREK
STUBBS was appointed to the board of directors on 2 October 2005. He is fully
active in the day to day operations of the company.
PETER JOHN WHITING
was
appointed to the board of directors on 20 September 1990. He is also active in
company operations.
BANK
WESTPAC NEW ZEALAND LIMITED
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
The subject has not lodged financial accounts with the New Zealand
Companies Office.
REGISTERED CHARGES
The following Registered Charge has been recorded over the subject’s
assets:
On 6 November 1990, Charge to Westpac New Zealand Limited, charging all
present and after acquired personal property.
The ‘Personal Property Securities Act 1999’ (PPSA) came into effect on 1
May 2002.
The PPSA has brought together registered charges that were historically
created under several different Acts, e.g. debentures registered pursuant to
the Companies Act and charges over specific assets registered pursuant to the
Chattels Transfer Act 1924.
Charges registered are called Security Interests.
The PPSA is also used by suppliers to register a charge over goods which
have been supplied to the subject in respect of which the supplier terms of
trade may previously have contained a “reservation of title” clause.
Charges over land are not registered under the PPSA and there may be
charges over land in the name of the subject.
There are also 4
Security Interests registered over goods – other and/or goods – motor vehicles.
RECORDED ACTIONS
Nothing of an adverse nature has been recorded against the subject.
INVESTIGATION
An interview was conducted with the Financial Controller in March 2007. At
this time she 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
Paid capital $120 in 120 shares paid to $1 each.
The subject is believed to be an importer and distributor of precious
gems and jewellery.
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)