MIRA
INFORM REPORT
|
Report Date : |
08.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
FRESH FLAVA CC |
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Registered Office : |
Unit 2 Grid Heights off Riverhorse Road 11 / 17 Riverhorse Valley
Durban KwaZulu Natal |
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Country : |
South Africa |
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Date of Incorporation : |
29.11.2005 |
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Com. Reg. No.: |
2005/172249/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Importing and wholesaling of home ware
such as cups, sources, place mates, overlays etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Assessment
This is an established business that imports
most of its products.
The subject is relatively small.
There are no judgements on the subject or
members.
It is suggested that dealings be undertaken on
a fully secured basis.
The subject received a bank code C for R
50 000 over 30 days.
Company Information
|
Registered Name |
FRESH FLAVA CC |
|
Registration
Number |
2005/172249/23 |
|
Registration
Date |
29 November 2005 |
|
Date
Commenced Trading |
29 November 2005 |
|
History
of Business |
The subject was commenced as a new business. |
|
History
of Principals |
The antecedence of the members was unknown. |
|
Members
of subject and % holding |
50% C E A MIDDLETON 50% M MIDDLETON |
|
Members
Contribution |
R100 |
|
Age
of Company |
41 |
|
Status |
Active |
|
Operations
Assessment |
Importing and wholesaling of home ware
such as cups, sources, place mates, overlays etc. |
|
Industry/
Customers |
The subject supplies only to MR. PRICE
HOME, which is a retailer in home ware. |
|
Major
Industry Code / SICC |
61399 – Wholesale retail |
|
Definition
of Code |
Wholesale trade in other household goods n.e.c |
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Head
Office Physical Address |
Unit 2 Grid Heights off Riverhorse Road 11 / 17 Riverhorse Valley DURBAN KwaZulu Natal |
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Head
Office Postal Address |
P O Box 20264 DURBAN NORTH 4016 |
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Current
Tel Number |
031 512 5031 |
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Current
Fax Number |
031 512 503 |
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Current
Email Address |
nicky@freshflava.co.za |
|
Web
Site Address |
www.freshflava.co.za |
Auditors Information
|
Company
Registered Name |
R I KENNEDY & ASSOCIATES |
|
Trading Name |
None |
|
Physical Address |
2 Wilford Street 5 Miller Grove BEREA Durban |
|
Postal Address |
P O Box 20708 DURBAN 4016 |
|
Contact Person |
Vinay Sewpuchan |
|
Contact Number |
031 240 7400 |
|
Principals |
1 |
|
Judgements
Against Principals |
No information on record |
|
Subject Verified
as Client |
Yes |
|
SAICA number |
00269798 |
|
VAT Number |
4730174184 |
|
Tax Number |
1408082202 |
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BEE Status |
None |
|
Financial Year
End |
February |
|
Years With
Auditors |
2007 |
|
Website |
www.rikennedy.co.za |
Bookkeeper’s information
|
Registered Name |
QUADS BUSINESS CONSULTING AND SOLUTIONS CC |
|
Contact Person |
Shamini Venkanna |
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Contact Number Cellular Number |
031 705 3608 083 382 7460 |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
No information on record |
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Tax Information
|
Vat Number |
4890226113 |
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Status |
Active |
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Vat Liable Date |
2007 |
|
Tax Number |
9295058169 |
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Financial Year
End |
February |
Black Economic Empowerment
|
Status |
Yes |
|
Score |
Level 6 |
|
BEE Certificate
Available |
Yes/No |
ISO Status
|
Type of ISO
Grade |
None |
|
ISO Certificate |
No |
|
ISO Certificate
Available |
No |
|
Certified
by an Accredited Agent |
No |
Workman’s compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes |
Company Structure
|
Branches |
None |
|
Number of
Employees |
14 total
employees |
|
1.
Salaried
employees |
14 |
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2.
Waged
employees |
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3.
Permanent
employees |
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4.
Casual
employees |
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5.
Contracted
employees |
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Company Fleet |
1 |
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Fleet Operations |
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The Fleet is
made up of |
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1.
Cars |
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2.
Light
Delivery Vehicles |
1 - Kia 1 ton truck |
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3.
Trailers |
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4.
Busses |
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5.
Trucks |
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6.
Fork
Lifts |
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7.
Other |
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Head Office
Owned/ Rented |
Leased |
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Rental Company |
Grindrodt |
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Type of Premises |
Administration and warehousing |
Trade References
The subject imports all of its supplies from India and China.
|
Supplier |
Contact |
|
SA MERCANTILE |
011 396
1004 |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
Company |
policy |
do not |
give |
trade references |
Very good |
client |
Adverse Information on Subject
|
Judgements |
No information on record |
Judgements
|
Case Number |
No information on record |
Default Data
|
Date |
Details |
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|
No information on record |
Notarial Bonds
|
Date |
Details |
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|
No information on record |
Deeds Information
|
Property Interest |
|||
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Property Type: |
No information on record |
Stand Number: |
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Street Number: |
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Street Name: |
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Municipal Suburb: |
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Municipal City: |
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Township Name: |
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Province: |
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Deeds Office: |
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Transfer ID: |
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Title Deed Number: |
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Purchase Date: |
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Transfer Date: |
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Erf Size: |
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Sold Price: |
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Bank Information
|
Bank |
STANDARD BANK |
|
Branch |
Florida Road |
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Bank Account
Number |
51310066 |
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Type of account |
Cheque |
|
Branch Code |
042726 |
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Account Name |
Fresh Flava CC |
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Date Opened |
25-01-2006 |
|
Bank Code |
C |
|
Bank Comment |
The subjects bankers consider them to be equal to their normal
business engagements and a figure of R50 000 over 30 days. |
Financial Information
Financial Estimates
|
CURRENT ASSETS |
|
|
Stock |
R1 000 000 |
|
Debtors |
R4 000 000 |
|
Cash on Hand |
fluctuates |
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CURRENT
LIABILITIES |
|
|
Local Creditors |
R300 000 – R400 000 |
Principals
|
Number of
Principals |
2 |
|
Average
Age of Active Principals |
44 |
Active Principals
Principal 1 of 2
|
Surname |
MIDDLETON |
|
First Names |
CRAIG, E, ALEXAN |
|
Marital Status |
married |
|
ID Number |
6401065048088 |
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Verified ID
Number |
Yes |
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Current Age |
47 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
12 April 2010 |
|
Address
(at time of Appointment) |
22 Ross Gardens Road MORNINGSIDE Durban KwaZulu Natal |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
No information on record |
Debt
Review
|
Debt review |
No information on record |
Other
|
Default data |
No information on record |
Business Information on Principal
Current
Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
FANTASTIC TRADE
108 CC |
2002/017622/23 |
Deregistration
Process |
0 |
No |
|
ISLAND
STYLE EU HOLDINGS (PTY) LTD |
2004/006781/07 |
Deregistration
Process |
0 |
No |
Previous
Business Interests
|
Average
Age of Previous Business Interests |
|
|
Company
Name |
Registration No |
Status |
Judgements |
Liquidation |
|
ISLAND
STYLE SURF N SPORT CC |
1986/006003/23 |
Deregistration
Process |
0 |
No |
|
ISLAND
STYLE S A CC |
2000/025957/23 |
Deregistration
Final |
0 |
No |
|
ISLAND
STYLE TRADEMARKS CC |
2001/032502/23 |
Deregistration
Final |
0 |
No |
|
SILVER
LINE TRADE 104 CC |
2002/064987/23 |
Deregistration
Process |
0 |
No |
|
GLITTER
LINE TRADE 101 CC |
2002/065028/23 |
Deregistration
Process |
0 |
No |
|
COCO
HAVEN 1416 CC |
2007/239012/23 |
In business |
0 |
No |
Deeds Information
Property
Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
No information on record |
Erf/Site No. |
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Deeds Office |
|
Physical Address |
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Property Type |
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Extent / Size |
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Purchase Date |
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Purchase price |
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% Ownership |
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Bond Holder |
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|
Bond Number |
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Bond Amount |
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Principal 2 of 2
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Surname |
MIDDLETON |
|
First Names |
MONIQUE |
|
Marital Status |
married |
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ID Number |
7010250058080 |
|
Verified ID
Number |
Yes |
|
Current Age |
41 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
29 November 2005 |
|
Address
(at time of Appointment) |
22 Ross Gardens Road MORNINGSIDE Durban 4001 |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
No information on record |
Debt Review
|
Debt review |
No information on record |
Other
|
Default data |
No information on record |
Business Information on Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
MITCHELL
PARK SHARE BLOCK INVESTMENTS (PTY) LTD |
1952/000499/07 |
Deregistration
process |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
None |
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
N/A |
|
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|
|
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
No information on record |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
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Property Type |
|
Extent / Size |
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Purchase Date |
|
Purchase price |
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% Ownership |
|
Bond Holder |
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|
Bond Number |
|
Bond Amount |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.42 |
|
|
1 |
Rs.70.95 |
|
Euro |
1 |
Rs.63.63 |
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 |
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 |
|
-- |
NB |
New Business |
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.