MIRA INFORM
REPORT
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Report Date : |
11.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
C AND A GRANITE AND MARBLE WORKS PTY LTD |
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Registered Office : |
1, 50 Smith St, Darwin,
NT 0800 |
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Country : |
Australia |
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Date of Incorporation : |
07.02.2006 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Stone Masons Specialising
in the Manufacture of Kitchen Bench Tops, Vanities, Memorials and Headstones. |
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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
REGISTERED NAME
C AND A GRANITE AND MARBLE WORKS PTY LTD
ACN: 118 217 888
ABN: 41 118 217 888
INCORPORATED
7 February 2006
REGISTERED ADDRESS
1, 50 Smith St
DARWIN, NT 0800
SHARECAPITAL
$2
SHAREHOLDERS
CICCARONE, Carmine Holds
1 share
CICCARONE, Adamo Holds
1 share
DIRECTORS
CICCARONE, Carmine
5 Yirra St
ROSEBERY, NT 0832
CICCARONE, Adamo
5 Yirra St
ROSEBERY, NT 0832
SECRETARY
CICCARONE, Carmine
5 Yirra St
ROSEBERY, NT 0832
REGISTERED
CHARGES None on record
BUSINESS STRUCTURE
TRADING ADDRESS 1,
80 Pruen Rd
BERRIMAH,
NT 0828
TELEPHONE (618) 8984 4904
MOBILE 0423
360 734
FACSIMILE (618) 8947
5250
BANK WESTPAC
BANKING CORPORATION
EMPLOYEES 3
BACKGROUND
The subject was incorporated in THE Northern Territory on 7 February
2006 to commence operations under the current style as a new venture.
OPERATIONS
The subject operates as stone masons specialising in the manufacture of
kitchen bench tops, vanities, memorials and headstones.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of the of Credit Advantage Limited failed to trace any litigation listed against the subject at that date.
FINANCES
The subject is not required to lodge financial statements with the Australian Securities and Investments Commission.
During the current interview conducted with Director Carmine Ciccarone, he advised that for the last financial year ended 30 June 2007, the subject recorded revenue of $700,000 and traded profitably.
Current assets include stock on hand of $150,000 ad receivables of $80,000 to $150,000.
The subject maintains no overdraft facilities or further external borrowings as all operations are funded through the cashflows of the company.
Current liabilities include creditors of $47,000.
Further details pertaining to the subject’s financial position were unable to be obtained for the current enquiry,
TRADE SURVEY
A trade survey on the subject traced the following accounts:
(Mentz International Trading) Nominated supplier was unable to be contacted for a reference.
(Laminex Industries) Nominated supplier failed to respond to correspondence despite chasing.
SUMMARY
The subject was incorporated in THE Northern Territory on 7 February 2006 to commence operations under the current style as a new venture.
For the last financial year ended 30 June 2007, the subject recorded revenue of $700,000 and traded profitably.
The subject maintains no overdraft facilities or further
external borrowings as all operations are funded through the cashflows of the
company.
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. |
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%)