MIRA
INFORM REPORT
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Report Date : |
15.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
PHOEBE AND FLOYD DESIGNS CC |
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Registered Office : |
28 Old Castle Brewery, Building 6, Beach Road, Woodstock, Cape Town,
Western Cape |
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Country : |
South Africa |
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Date of Incorporation : |
22.11.1996 |
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Com. Reg. No.: |
1996/058865/23 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Design and manufacturing of children’s clothing and adult sleepwear |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
PHOEBE
AND FLOYD DESIGNS CC
PHYSICAL ADDRESS
28
Old Castle Brewery
Building
6
Beach
Road
Woodstock
Cape
Town
Western
Cape
POSTAL ADDRESS
As Above
Telephone Number: 021 448 9060
Fax Number: 021 448 3017
MEMBERS
50% B J NAGEL ID.
No. 6209095248184
50% M S NAGEL (wife) ID. No. 6409230195007
ASSOCIATE COMPANIES
None
BANKERS
STANDARD
BANK, Pinelands Branch. It was stated that
the subject enjoys overdraft facilities secured by members guarantees.
Utilisation of the overdraft is stated to fluctuate.
DATE REGISTERED
22
November 1996
Registration
Certificate Number:1996/058865/23
VAT NUMBER
4920164821
MAJOR OPERATION
Design
and manufacturing of children’s clothing and adult sleepwear
MAJOR SUPPLIERS
SA
INTERLINING
ATLAS
TEXTILES
IDEAL
FASTENERS
LAGUNA
MEGA
FREIGHT
MAJOR CUSTOMERS OR BUSINESS
SECTORS
Childrens
retail boutique
AREA OF DISTRIBUTION AND SELLING
South
Africa
EXPORTS
None
TOTAL EMPLOYEES
12
OTHER PREMISES
None
OWNED OR LEASED
Leased
MEMBERS CONTRIBUTION
R100
The
following estimated financial situation was submitted:
STOCK R 500 000
DEBTORS R 500 000
FIXED ASSETS R1
000 000
CREDITORS R 500 000
LOANS Nil
TURNOVER per annum R7
500 000
AUDITORS
BIRCHWOODS
ACCOUNTING SOLUTIONS 021 713 2087
YEAR END
FEBRUARY
INSURANCE BROKERS
CARL
GRIEVES BROKERS
TRADE REFERENCES
ACCOUNT HIGHEST AVERAGE TERMS PAYMENT EXPERIENCE
OPENED CREDIT CREDIT PATTERN
1. 2001 R400 000 R50
000 60 days 60 days Good
2. 8yrs declined declined 60 days 60 days Good
3. 5yrs R75 000 R10
000 – 60 days 60 days Good
R12
000
COMMENTS
This is an established business meeting its commitments timeously. We have not traced dealings to an extent of
$1 000 000 over DA terms and would prefer to see a far lesser amount on a
spread and secured basis.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.46 |
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UK Pound |
1 |
Rs.73.17 |
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Euro |
1 |
Rs.62.96 |
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%)