MIRA INFORM REPORT
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Report Date : |
30.09.2011 |
IDENTIFICATION DETAILS
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Name : |
GRANT’S TRUE LEATHER CC |
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Registered Office : |
Central Park, Paddy Close, Ottery, Western Cape |
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Country : |
South Africa |
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Date of Incorporation : |
06.09.1996 |
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Com. Reg. No.: |
1996/043630/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Manufacturers of footwear and small leather goods |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 : |
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 |
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Risk Category |
ECGC
Classification |
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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.
The subject is meeting a commitment timeously with its one supplier,
however we await further trade references to be provided.
MR G MUNRO was reluctant to assist with financials, banking information
and trade references.
An email has been forwarded to him and should he provide any further
information it will be forwarded.
We therefore cannot speak to your figure.
Company Information
|
Registered
Name |
GRANT’S TRUE LEATHER CC |
|
Trading
as/ Division Name |
FREESTYLE |
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Previous Name |
None |
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Date of Name
Change |
None |
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Registration
Number |
1996/043630/23 |
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Registration
Date |
1996-09-06 |
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Date Commenced
Trading |
1996 |
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History of
Business |
The subject was originally started in 1987 as a sole proprietor in the
name of MRS MUNRO (mother) and then became a partnership and then a CC in
1996. |
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History of
Principals |
MR G MUNRO has been involved in the company since 1987. |
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Members of
subject and % holding |
100% G MUNRO |
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Members
Contribution |
R100 |
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Age of Company |
15 years |
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Status |
In Business |
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Operations
Assessment |
Manufacturers of footwear and small
leather goods. |
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Industry/
Customers |
Retailers mainly. |
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Export |
None |
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Major Industry
Code / SICC |
31629 Manufacturing |
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Definition of
Code |
Manufacture of other general goods of
leather and substitutes. |
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Head Office
Physical Address |
Central Park Paddy Close OTTERY Western Cape |
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Head Office
Postal Address |
P O Box 202 PLUMSTEAD 7801 |
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Current Tel
Number |
021 7031896 |
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Current Fax
Number |
021 7030516 |
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Current Email
Address |
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Web Site Address |
Auditors Information
|
Company
Registered Name |
HLB MARX GORE CHARTERED ACCOUNTANTS (S.A) |
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Trading Name |
None |
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Physical Address |
1 The Pavillion Central Park Esplanade CENTURY CITY Cape Town |
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Postal Address |
Postnet suite 160 Private Bag X18 MILNERTON 7435 |
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Contact Person |
MARK GORE/ ERIC MARX |
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Contact Number |
021 5553666 |
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Email |
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Principals |
E MARX M GORE |
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Subject Verified
as Client |
Yes |
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Website |
www.hlbmarx.co.za |
Previous Auditors
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Company Name/ Tel |
Time With Previous Auditors |
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None |
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Tax Information
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Vat Number |
4640172617 |
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Status |
Active |
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Vat Liable Date |
September (bi-monthly) |
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Tax Number |
9188009030 |
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Tax Clearance
Expire Date |
February |
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Financial Year
End |
February |
Black Economic
Empowerment
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Status |
None |
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Score |
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Expire Date |
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BEE Certificate
Available |
Yes/No |
ISO Status
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Type of ISO Grade |
None |
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ISO Certificate |
Yes/No |
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ISO Certificate
Available |
Yes/No |
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Certified by
anAccredited Agent |
Yes/No |
Workman’s
compensation
|
Registered |
Yes |
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Compliance
Certified |
Yes 0355-822-1105 |
Company Structure
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Branches |
None |
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Branches Names |
Country |
Province |
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None |
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Subsidiary Company |
None |
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Shareholding |
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Registration
Number |
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Import / Export |
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Number of
Employees |
45 |
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1.
Salaried
employees |
6 |
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2.
Waged
employees |
39 |
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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 |
No of vehicles: |
Owned/ Leased |
Value |
Outstanding
Balance |
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Fleet Operations |
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The Fleet is
made up of |
None |
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1.
Cars |
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2.
Light
Delivery Vehicles |
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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
OfficeOwned/ Rented |
Rented |
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Rental Company |
THE RUEDA TRUST A trust including the MUNRO family. |
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Owned by |
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Value |
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Bond |
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Bank |
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Lease Agreement |
None |
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Lease Expire
Date |
None |
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Type of Premises |
Factory |
Trade References
|
Supplier |
Contact |
|
1)
ACA
THREADS |
021 9813593 |
Trade References
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Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
|
1)2007 |
R20 000 |
R6 000 |
60 days |
R6000 |
30 days -2.5% |
Good |
Adverse
Information on Subject
|
Judgements |
None |
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Possible
Judgements |
None |
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Civil Court |
None |
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RDs |
None |
Default Data
|
Date |
Details |
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None |
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Notarial Bonds
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Date |
Details |
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None |
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Deeds Information
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Property Interest |
|||
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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 |
CONSTANTIA |
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Bank Account
Number |
Unavailable |
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Type of Account |
Current |
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Branch Code |
Unavailable |
Bank CodesHistory
|
Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
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None |
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Previous Bank
Accounts
|
Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
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None |
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Financial Information
Financial
Estimates
Financials were declined by MR G N MUNRO.
Principals
|
Number of
Principals |
1 |
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Average Age of
Active Principals |
45 |
Active Principals
Principal 1 of 1
|
Surname |
MUNRO |
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First Names |
GRANT |
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ID Number |
6612015100080 |
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Verified ID
Number |
Yes |
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Current Age |
45 |
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Designation |
Member |
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Status |
Active |
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Appointment Date |
1996-09-06 |
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Address (at time of
Appointment) |
10 Van Reenen Road CONSTANTIA 7800 Western Cape |
Adverse
Information on Principal
Judgement
|
Number of
Judgements |
None |
Debt Review
|
Debt review |
None |
Other
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Default data |
None |
Business Information on
Principal
Current Business Interests
|
Company Name |
Registration No |
Status |
Judgements |
Liquidation |
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None |
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Previous Business
Interests
|
Average Age of
Previous Business Interests |
13 years |
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Company Name |
Registration No |
Status |
Judgements |
Liquidation |
|
NEW ADVENTURE
INVESTMENTS 117 (PTY) LTD |
1997/016424/07 |
Deregistration
Final |
0 |
No |
Deeds Information
Property Interests of
Principle
|
Property Interest |
|||
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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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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.93 |
|
UK Pound |
1 |
Rs.76.52 |
|
Euro |
1 |
Rs.66.65 |
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 |
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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---- |
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.