MIRA INFORM REPORT

 

 

Report Date :           

20.05.2011

 

IDENTIFICATION DETAILS

 

Name :

NORTH MEMORIALS LTD

 

 

Registered Office :

PD O'Reilly, 107 Scenic Drive, Titirangi, Waitakere, 0604

 

 

Country :

Australia

 

 

Date of Incorporation :

17.11.2010

 

 

Legal Form :

Limited Company

 

 

Line of Business :

import and production of memorial products

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

----

NB

New Business

----

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

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)

Australia

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

REGISTERED NAME      

 

NORTH MEMORIALS LTD

 

CN: 3198069

           

CREDIT REQUEST                    146 Broadway

                                                KAIKOHE, NORTHLAND, NZ

 

 

CORPORATE SEARCH

 

 

Entity Type:

NZ Limited Company

Incorporated:

17 Nov 2010

Current Status:

Registered

Constitution Filed:

Yes

Annual Return Filing Month:

November

 

Registered Office

PD O'Reilly, 107 Scenic Drive, Titirangi, Waitakere, 0604

 

Address for Service

PD O'Reilly, 107 Scenic Drive, Titirangi, Waitakere, 0604

 

Directors

JONES, Raymond James

45 Conifer Lane, Rd 1, Kerikeri, 0294

O'REILLY, Patrick Damien

107 Scenic Drive, Titirangi, Waitakere, 0604

 

Shareholdings

Total Number of Shares:

240

Extensive Shareholdings:

No

 

120

3204453

JONES ENTERPRISES TRUSTEE COMPANY LIMITED

45 Conifer Lane, Rd 1, Kerikeri, Null, 0294

120

2373507

CLL TRUSTEE LIMITED

229 Lake Road, Takapuna, Auckland 0622, Null

 

O'REILLY, Anne Margaret

107 Scenic Drive, Titirangi, Waitakere, 0604

 

O'REILLY, Patrick Damien

107 Scenic Drive, Titirangi, Waitakere, 0604

 

 

BUSINESS STRUCTURE

 

HEAD OFFICE                          107 Scenic Dr

                                                TITRANGI, WAITAKERE, NZ 0604

 

TELEPHONE                             (649) 401 2220

 

MOBILE                                    021 662 001 ( Damien O’Reilly)

 

ASSOCIATED ENTITIES            NORTH MEMORIALS (PAPATOETOE) LTD (50%)          

                                                NORTH MEMORIALS BIRKENHEADLTD (50%)  

                                                NORTH MEMORIALS HENDERSON LTD (50%)  

                                                NORTH MEMORIALS KAIKOHE LTD (50%)        

 

BRANCHES                              The group maintains a total of 6 branches

 

BANK                                       Not determined 

                                               

EMPLOYEES                            3 (including 2 active Directors)

           

 

BACKGROUND

 

The subject was incorporated in New Zealand on 17 November 2010 under the current style.

 

The subject was formed to restructure the assets and operations of a business that was founded by Director Raymond Jones IN 1993.

           

           

OPERATIONS

 

The subject operates in the import and production of memorial products.

 

Product is distributed to the associated entities, which operate retail stores selling memorial products.

 

Activities are conducted from premises located at the above listed trading address.

 

 

 

 

FINANCES

 

The subject is not required to lodge financial statements with the New Zealand Companies Office.

 

During the current interview conducted with Director Damien O’Reilly he advised that for the last financial year ended 31 March 2011 the subject traded profitably and recorded revenue of NZ$850,000.

 

Further details pertaining to the subjects 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:

 

·         (Decra Art) Purchases average more than $1,000 per month on 30 day terms. Payment is met in 30 days and the account is considered satisfactory, having been known over 10 years.

 

·         (Xanda Imaging) Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in New Zealand on 17 November 2010 under the current style.

 

The subject was formed to restructure the assets and operations of a business that was founded by Director Raymond Jones in 1993.

                       

For the last financial year ended 31 March 2011 the subject traded profitably and recorded revenue of NZ$850,000.

 

Enquiries in trade quarters revealed satisfaction from suppliers contacted in dealing with the subject on a credit basis.          


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.98

UK Pound

1

Rs.72.68

Euro

1

Rs.64.16

 

 

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%)

 

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.