MIRA
INFORM REPORT
|
Report Date : |
07.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
TOMBSTONES SA CC |
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Formerly Known As : |
THEO YOUNG CC |
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Registered Office : |
11 Portland Road Mkondeni Pietermaritzburg |
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Country : |
South Africa |
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Date of Incorporation : |
17.08.1994 |
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Com. Reg. No.: |
1994/025655/23 |
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Legal Form : |
Close Corporation |
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Line of Business : |
Manufacture and retail of granite tombstones |
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 : |
No Complaints |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 family business meeting
commitments timeously.
The subject is free of judgements.
A maximum of R300 000 was traced with
suppliers.
A bank code C was obtained for an amount of
R500 000 over 30 days.
The subject is considered as equal to its
normal business engagements.
Company Information
|
Registered
Name |
TOMBSTONES SA CC |
|
Trading
as/ Division Name |
None |
|
Previous Name |
THEO YOUNG CC |
|
Date of Name
Change |
2007-06-04 |
|
Registration
Number |
1994/025655/23 |
|
Registration
Date |
1994-08-17 |
|
Date Commenced
Trading |
2001 |
|
History of
Business |
The subject only commenced active trading in 2001 |
|
Members of
subject and % holding |
50% G YOUNG 50% T YOUNG |
|
Members
Contribution |
R100 |
|
Age of Company |
17 years 3 months |
|
Status |
In Business |
|
Operations
Assessment |
Manufacture and retail of granite
tombstones |
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Industry/
Customers |
Public |
|
Export |
None |
|
Major Industry
Code / SICC |
34260 Manufacturing |
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Definition of
Code |
Cutting shaping and finishing of stone |
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Head Office
Physical Address |
11 Portland Road MKONDENI Pietermaritzburg |
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Head Office
Postal Address |
P O Box 108 MKONDENI 3204 |
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Current Tel
Number Cell number |
033 3862761 082 4473582 |
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Current Fax
Number |
033 3862763 |
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Current Email
Address |
|
|
Web Site Address |
www.marbleandgranite.co.za |
Auditors Information
Numerous attempts to contact the auditors
have proved unsuccessful.
|
Company
Registered Name |
L S C FINANACIAL SERVCES CC |
|
Trading Name |
JM ROSS |
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Registration
Number |
1994/043210/23 |
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Physical Address |
7 Rothman Drive UMTENTWENI Kwazulu Natal |
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Postal Address |
P O Box 1803 PORT SHEPSTONE 4240 |
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Contact Person |
JOHN MURRAY ROSS |
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Contact Number |
039 6951832 |
|
Principals |
1 |
|
Judgements
Against Subject |
None |
|
Judgements
Against Principals |
None |
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SAICA number |
001682 |
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VAT Number |
4150151100 |
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Tax Number |
9155689202 |
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Financial Year
End |
February |
Previous Auditors
|
Company Name/ Tel |
Time With Previous Auditors |
|
None |
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Tax Information
|
Vat Number |
4270144944 |
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Status |
Active |
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Vat Liable Date |
25th November (every second month) |
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Tax Number |
928274201 |
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Tax Clearance
Expire Date |
February and August |
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Financial Year
End |
February |
Black Economic Empowerment
|
Status |
Yes |
|
Score |
Unknown |
|
Expire Date |
Unknown |
|
BEE Certificate
Available |
No |
ISO Status
|
Type of ISO
Grade |
None |
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ISO Certificate |
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|
ISO Certificate
Available |
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Certified by
anAccredited Agent |
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Workman’s compensation
|
Registered |
Yes |
|
Compliance
Certified |
Yes, waiting for new certificate at present |
Company Structure
|
Branches |
15 |
The subject has branches spread throughout
the Kwazulu Natal and Eastern Cape areas.
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Subsidiary Company |
None |
|
Shareholding |
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Registration
Number |
|
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Import / Export |
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Number of
Employees |
65 |
|
1.
Salaried
employees |
64 |
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2.
Waged
employees |
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3.
Permanent
employees |
55 |
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4.
Casual
employees |
10 |
|
5.
Contracted
employees |
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Company Fleet |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding
Balance |
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Fleet Operations |
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The Fleet is
made up of |
10 |
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1.
Cars |
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2.
Light
Delivery Vehicles |
8 |
Owned |
Total R2 700 000 |
Only some have
outstanding balances |
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3.
Trailers |
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4.
Busses |
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5.
Trucks |
2 |
Owned |
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6.
Fork
Lifts |
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7.
Other |
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Head OfficeOwned/
Rented |
Owned |
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Rental Company |
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Owned by |
FRAJO 181 CC (group business) |
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Value |
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Bond |
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Bank |
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Lease Agreement |
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Lease Expire
Date |
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Type of Premises |
Office and factory |
Branches Owned/
Rented |
All rented and are in shopping
centres |
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Rental Company |
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Owned |
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Value |
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Bank |
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Bond |
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|
Lease Agreement |
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Lease Expire
Date |
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Type of Premises |
Retail outlets |
Trade References
|
Supplier |
Contact |
|
IMPALA MONACO |
014 5723760 |
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STONE CUTTERS |
033 5029084 |
|
GRANITEC |
031 5639521 |
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STURROCK
SHIPPING |
D-N G |
Trade References
|
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1)1997 |
None |
R300 000 |
30 days |
R100 000- R300 000 |
30 days |
Very Good |
|
2)Old |
None |
R5 000 |
30 days |
R1 000- R2 000 |
30 days |
Very Good |
|
3)11 years |
None |
R150 000 |
30 days |
R50 000- R150 000 |
30 days |
Very Good |
|
4)Do |
Not |
Give |
Trade |
References |
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Adverse Information on Subject
|
Judgements |
None |
|
Possible
Judgements |
None |
|
Civil Court |
None |
|
RDs |
None |
Default Data
|
Date |
Details |
|
None |
|
Notarial Bonds
|
Date |
Details |
|
None |
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Deeds Information
|
Property Interest |
|||
|
Title Deed No. |
None |
Erf/Site No. |
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Deeds Office |
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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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Bank Information
|
Bank |
STANDARD BANK |
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Branch |
PIETERMARITZBURG |
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Bank Account
Number |
053257901 |
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Type of Account |
Current |
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Branch Code |
057528 |
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Account Name |
TOMBSTONES SA CC |
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Overdraft
Facilities |
R400 000 secured by
property and utilized ocassionally. |
|
Bank Code |
C for R500 000 |
|
Bank Comment |
The subjects bankers consider them as equal to their normal business
engagements. |
Bank CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
|
None |
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Previous Bank Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
|
None |
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Financial Information
Financial Estimates
|
CURRENT ASSETS |
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|
Stock |
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Debtors |
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Cash on Hand |
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FIXED ASSETS |
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Plant,
Equipment, Vehicles |
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Property |
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CURRENT
LIABILITIES |
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Creditors |
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Loans/ From? |
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LONG TERM
LIABILITIES |
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|
Morgage Bonds |
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MONTHLY Turnover |
R1 500 000 |
|
Previous Year
Turnover |
|
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Estimated
Current Year Turnover |
|
Principals
|
Number of
Principals |
2 |
|
Average Age of
Active Principals |
48 |
Active Principals
Principal 1 of 2
|
Surname |
YOUNG |
|
First Names |
GERRIT |
|
Marital Status |
Married |
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ID Number |
6607125063087 |
|
Verified ID
Number |
Yes |
|
Current Age |
45 |
|
Designation |
Member |
|
Status |
Active |
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Appointment Date |
2007-01-30 |
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Address (at time
of Appointment) |
17 Soetdoring Avenue RUSTENBURG 0300 |
Adverse Information on Principal
Judgement
|
Number
of Judgements |
None |
Debt Review
|
Debt
review |
None |
Other
|
Default data |
None |
Business Information on Principal
Current Business Interests
|
Company
Name |
Registration
No |
Status |
Judgements |
Liquidation |
|
GY
TRANSPORT CC |
1994/020763/23 |
Conversion |
0 |
No |
|
C
F C CHRYSTAL’S FEED CONSULTING (PTY) LTD |
1995/010512/07 |
Deregistration
Process |
0 |
No |
|
UNITRADE
140 (PTY) LTD |
1998/003033/07 |
Deregistration
Process |
0 |
No |
|
GERRIT
YOUNG (PTY) LTD |
1998/022845/07 |
In Business |
0 |
No |
|
MARBLE
AND GRANITE WORKS CC |
2001/001462/23 |
In Business |
0 |
No |
|
NATAL
TOMBSTONES CC |
2001/058067/23 |
In Business |
0 |
No |
|
GERDICK
PROP INVETSMENTS (PTY) LTD |
2005/008590/07 |
Deregistration
Process |
0 |
No |
|
FRAQUR
128 (PTY) LTD |
2005/008687/07 |
Deregistration
Process |
0 |
No |
|
FRAQUR
129 (PTY) LTD |
2005/008745/07 |
Deregistration
Process |
0 |
No |
|
FRAJO
181 CC |
2005/139972/23 |
In Business |
0 |
No |
|
FRAJO
165 CC |
2005/140024/23 |
In Business |
0 |
No |
|
G
YOUNG |
6607125063087 |
|
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
14 years |
|
Company
Name |
Registration No |
Status |
Judgements |
Liquidation |
|
GTY
CONSTRUCTION CC |
1991/013108/23 |
Voluntary
Liquidation |
0 |
Yes |
|
F
J SNYMAN CC |
1991/030015/23 |
Deregistration
Final |
0 |
No |
|
AGRI
LIME (PTY) LTD |
1995/013946/07 |
In Business |
0 |
No |
|
STONY
LIME (PTY) LTD |
1996/007046/07 |
In Business |
0 |
No |
|
CAVA
MOLA MINING (PTY) LTD |
1996/013634/07 |
In Business |
0 |
No |
|
SAFARITUINE
62-1681 CC |
2000/075998/23 |
Deregistration
Final |
0 |
No |
|
ECONOCOM
168 CC |
2001/057708/23 |
Deregistration
Final |
0 |
No |
|
ANIX
TRAIDNG 236 CC |
2001/064369/23 |
In Business |
0 |
No |
|
BLAIZEPOINT
TRADING 442 CC |
2002/027979/23 |
In Business |
0 |
No |
|
NORDIC
SAGA INVESTMENTS 139 CC |
2002/043433/23 |
Conversion |
0 |
No |
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
None |
Erf/Site No. |
|
|
Deeds Office |
|
Physical Address |
|
|
Property Type |
|
Extent / Size |
|
|
Purchase Date |
|
Purchase price |
|
|
% Ownership |
|
Bond Holder |
|
|
Bond Number |
|
Bond Amount |
|
Principal 2 of 2
|
Surname |
YOUNG |
|
First Names |
THEO |
|
Marital Status |
Married |
|
ID Number |
6607125063087 |
|
Verified ID
Number |
Yes |
|
Current Age |
51 |
|
Designation |
Member |
|
Status |
Active |
|
Appointment Date |
1994-08-17 |
|
Address (at time
of Appointment) |
4 Arbuckle Place MONTROSE 3201 |
Adverse Information on Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt
review |
None |
Other
|
Default data |
None |
Business Information on Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
|
|
|
|
|
|
MARBLE AND
GRANITE WORKS CC |
2001/001462/23 |
In Business |
0 |
No |
|
NATAL TOMBSTONES
CC |
2001/058067/23 |
In Business |
0 |
No |
|
SHARPES APTEEK |
6007115038084 |
In Business |
0 |
No |
|
FRAJO 181 CC |
2005/139972/23 |
In Business |
0 |
No |
Previous Business Interests
|
Average Age of
Previous Business Interests |
15 years |
|
Company
Name |
Registration No |
Status |
Judgements |
Liquidation |
|
HASS
(NATAL) (PTY) LTD |
1998/018079/07 |
Deregistration
Final |
0 |
No |
|
ERASMUS
EN YOUNG CC |
1998/022967/23 |
Deregistration
Final |
0 |
No |
|
YOUNG
AND ERASMUS CC |
B1993/013227/23 |
In Business |
0 |
No |
Deeds Information
Property Interests of Principle
|
Property Interest |
|||
|
Title Deed No. |
T11022/2005 |
Erf/Site No. |
|
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
5 ARBUCKLE MONTROSE PIETERMARITZBURG MSUNDUZI |
|
Property Type |
Freehold/ Ervin |
Extent / Size |
1538.0SQM |
|
Purchase Date |
2004-11-27 |
Purchase price |
R1 100 000 |
|
% Ownership |
0.0000 |
Bond Holder |
STANDARD BANK |
|
Bond Number |
B126622005 |
Bond Amount |
R990 000 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.08 |
|
|
1 |
Rs.78.65 |
|
Euro |
1 |
Rs.67.79 |
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.