MIRA
INFORM REPORT
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Report Date : |
15.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
FLEUR WOOD FABRICS & DESIGNS PTY LTD |
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Registered Office : |
Tower 1 2/495 Victoria Avenue CHATSWOOD, New South Wales 2067 |
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Country : |
Australia |
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Date of Incorporation : |
07.10.1999 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Fashion Designers, Wholesalers and Retailers. |
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 : |
No Complaints |
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Litigation : |
Clear |
REGISTERED NAME
FLEUR WOOD FABRICS & DESIGNS PTY LTD
ACN: 089 866 357
ABN: 51 089 866 357
CORPORATE SEARCH
Incorporation Date: 07 Oct 1999
Incorporation State: New South Wales
Registered Office TOWER 1 2/495 VICTORIA Avenue
CHATSWOOD, New South Wales 2067 Australia
Charges Date Registered: 25 Nov 2004
Chargee Name: 005 357 522 AUSTRALIA AND NEW
Charge Type: Fixed and floating charge
ASIC Charge No: 1106086
Number of Shares Issued: 100
Paid Capital: 100
Shareholders FLEUR WOOD
Number of Shares: 100
Directors WOOD, FLEUR
Appointment Date: 07 Oct 1999
Date of Birth: 24 Apr 1974
Gender: Female
Address: 2 DONALD Place BONDI JUNCTION, New South Wales 2022 Australia
Resident Overseas: No
Secretary FLEUR WOOD
Appointment Date: 07 Oct 1999
BUSINESS STRUCTURE
TRADING ADDRESS Suite 201, 11 Randle St
SURRY HILLS, NSW 2010
TELEPHONE (613) 5975 0900
FACSIMILE (613) 5975 0942
RETAIL OUTLETS PADDINGTON, NSW
SYDNEY CBD, NSW
BIRKENPOINT HEAD, NSW
BANK ANZ BANKING GROUP
EMPLOYEES 21
BACKGROUND
The subject was incorporated in New South Wales on 7 October 1999 as Wood & Eilbeck Fabrics & Designs P/L, before adopting the current style on 31 August 2000.
Operations were founded in 1999.
OPERATIONS
The subject operates as fashion designers, wholesalers and retailers.
Activities are conducted from leased 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 the subjects Financial Controller, she advised that for the last financial year ended 30 June 2008, the subject traded profitably and recorded revenue of $4,500,000.
The subject maintains
a financing facility with the National Australia Bank, which is secured by a
registered charge over certain fixed and floating assets of the company.
Further details pertaining to the subject’s financial position were unable to be obtained for the current enquiry.
Enquiries in trade quarters revealed satisfaction from suppliers contacted in dealing with the subject on a credit basis.
TRADE SURVEY
A trade survey on the subject traced the following accounts:
(KL Benjamin) Purchases range between $10,000 and $25,000 per month on 30 day terms. Payment is met in 30 days and the account is considered satisfactory, having been known over 10 years.
Nominated supplier failed to respond to correspondence despite chasing.
SUMMARY
The subject was incorporated in New South Wales on 7 October 1999 as Wood & Eilbeck Fabrics & Designs P/L, before adopting the current style on 31 August 2000.
Operations were founded in 1999.
For the last financial year ended 30 June 2008, the subject traded profitably and recorded revenue of $4,500,000.
Enquiries in trade quarters revealed satisfaction from suppliers contacted in dealing with the subject on a credit basis.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.43 |
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UK Pound |
1 |
Rs.84.54 |
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Euro |
1 |
Rs.65.91 |
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%)