MIRA
INFORM REPORT
|
Report Date : |
20.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
THE SOURCE
ENTERPRISES LTD |
|
|
|
|
Registered Office : |
929 Main Street, Vancouver, BC, V6A 2V8 |
|
|
|
|
Country : |
Canada |
|
|
|
|
Date of Incorporation : |
06.11.1970 |
|
|
|
|
Legal Form : |
BC Corporation |
|
|
|
|
Line of Business : |
Importer and Retailer of Furniture and Antiques. |
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 : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
Company name
THE SOURCE
ENTERPRISES LTD
Address
929 Main Street,
Vancouver, BC, V6A 2V8 – Canada
Telephone : 604-684-9914
Fax : 604-734-3800
Website : www.sourceenterprises.bc.ca
summary
|
Corporate
ID# : State : Judicial
form : Date
founded : Stock : Value: Name of manager: |
BC-0000096564 British Columbia BC Corporation November 6, 1970 - - Frank SHORROCK |
ACTIVITIES & OPERATIONS
|
Business Staff: |
The Company is importer and retailer of furniture and antiques. 2 |
|
Operations & branches: |
At above address, we find a store, on lease. |
SHAREHOLDERS & MANAGERS
|
Shareholders : |
Frank SHORROCK is the owner. |
|
Management : |
Frank SHORROCK is the Manager. He is the owner of the St Clair Hotel 577 Richards Street |
|
Subsidiaries
& Partnership : |
None |
FINANCIALS
In Canada, privately held corporations are not required to publish any
financials.
On a direct call, nobody accepted to answer our questions.
However, sales estimate for year 2007 is in the range of CAD 500,000=
The business is profitable.
Banks
Bank of Nova Scotia
LEGAL FILINGS
|
Legal filings
& complaints : |
As of today date, there is no legal filings pending with the Courts. |
|
Secured debts
summary : |
None |
COMPANY CREDIT HISTORY
According to our credit analysts, during the last 6 months, 90% of trade
experience indicates a regular payment.
Payments of imports are currently made with an average of 5 days beyond
terms.
The Company maintains a regular business.
The bank and financial institutions confirmed a low account but regular
payment.
The risk is low.
Our opinion:
A business connection may be conducted.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.72 |
|
UK Pound |
1 |
Rs.81.45 |
|
Euro |
1 |
Rs.64.47 |
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%)