MIRA INFORM REPORT
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Report Date : |
29.03.2012 |
IDENTIFICATION DETAILS
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Name : |
BLACK FABRICS CC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
01.01.2004 |
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Com. Reg. No.: |
CK 2004/053926/23 |
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Legal Form : |
Closed Corporation |
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Line of Business : |
Trading in textiles, Black Fabrics offer a diverse selection of local and
imported products ranging from fabrics for curtaining & accessories,
upholstery as well as for contract use, leathers, vinyls, passementerie, and
an extensive array of wallpapers |
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No. of Employees
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12 |
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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Maximum Credit Limit : |
$150000.00 |
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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 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
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Subject Name |
BLACK FABRICS CC |
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Country |
SOUTH AFRICA |
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Requested Credit Limit |
$150000.00 |
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Enquiry Terms |
D/A |
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Account Review |
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Subject Contact person |
STEPHEN BLACK –DIRECTOR |
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Assessment |
On investigation we have made contact with BLACKFABRICS CC. We were referred to the Director MR Stephen Black (0824459901) who requested the questionnaire to be sent to him. This is an established company with the previous year turnover of R13 000 000 The payments with suppliers are being met within the terms. A bank code C was obtained for R40 000 over 30 days. Your figure is considered as too high. Please see details below. |
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Registered Name |
BLACK FABRICS CC (NF) |
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Trading as/ Division Name |
BLACK FABRICS |
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Previous Name |
None |
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Date of Name Change |
None |
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Registration Number |
CK 2004/053926/23 |
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Registration Date |
2004/01/01 |
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Date Commenced Trading |
2004/01/01 |
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Age of Business |
8 Years |
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History of Business |
They have continuously traded in textiles |
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History of Principals |
MR Harlequin has been with the company for 6 Years and MrR Allen 4
years |
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Shareholders and % holding |
SJ BLACK 100% |
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Authorised Share Capital |
Unknown |
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Issued Share Capital |
Unknown |
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Status |
In Business |
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Operations Assessment |
Trading in textiles, Black Fabrics offer a
diverse selection of local and imported products ranging from fabrics for
curtaining & accessories, upholstery as well as for contract use,
leathers, vinyls, passementerie, and an extensive array of wallpapers |
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Industry/ Customers |
Decorators,Designers,Hospitality |
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Export |
None |
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Major Industry Code / SICC |
31120 |
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Definition of Code |
Finishing
of purchased yarns and fabrics |
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Head Office Physical Address |
9 Kramer Road Kramerville JOHANNESBURG |
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Head Office Postal Address |
POST NET SUITE
133 Private Bag XS NORWOOD 2117 |
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Current Tel Number |
011 262 3130 |
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Cell number |
082 448 9901 |
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Current Fax Number |
011 444 5993 |
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Current Email Address |
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Web Site Address |
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Company Registered Name |
JH PRELLER |
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Trading Name |
None |
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Registration Number |
4710125008003 |
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Physical Address |
15 Van Der Bent Street POTCHEFSTROOM 2520 |
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Postal Address |
PO Box 105 POCHEFSTROOM 2520 |
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Contact Person |
GARY BALMER |
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Contact Number |
0762450202 |
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Email |
Pospreller@vodamail.co.za |
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Principals |
1 |
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Judgements Against Subject |
None |
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Judgements Against Principals |
None |
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Subject Verified as Client |
Yes |
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SAICA number |
921378 |
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VAT Number |
4760121402 |
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Tax Number |
238132617 |
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BEE Status |
None |
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Financial Year End |
February |
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Years With Auditors |
6 |
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Website |
None |
Previous Auditors
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Company Name |
Phone Number |
Time with previous auditors |
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None |
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Vat Number |
4160217297 |
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Status |
Fully compliant-up to date |
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Vat Liable Date |
Unknown |
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Tax Number |
9047473161 |
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Tax Clearance Expire Date |
Unknown |
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Financial Year End |
February |
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Status |
None |
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Score |
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Expire Date |
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BEE Certificate Available |
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Type of ISO Grade |
None |
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ISO Certificate |
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ISO Certificate Available |
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Certified by an Accredited Agent |
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Registered |
None |
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Compliance Certified |
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Subsidiaries
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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 |
12 |
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1. Salaried
employees |
12 |
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2. Permanent
employees |
12 |
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 |
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1. Light
Delivery Vehicles |
1 |
Yes |
45000 |
35000 |
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Offices |
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Head Office Owned/ Rented |
Rented |
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Rental Company |
Window lines - Owner JOHN HEPBURN |
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Lease Agreement |
3 Years |
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Lease Expire Date |
1/03/2016 |
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Type of Premises |
Office Block |
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Branches Names |
Country |
Province |
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None |
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Branches Owned/ Rented |
None |
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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 |
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Organisation chart
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Level |
Position |
Name |
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1 |
Director |
STEPHEN BLACK |
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Company Structure
(Ownership)
Note: One level up and
all levels down
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Holding |
Company |
Sub |
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100% STEPHAN BLACK |
BLACK FABRICS |
None |
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Key
deals signed within the past 12 months.
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Company |
Value |
Contact |
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Sun International |
2 000 000 |
Alex Wright |
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Southern Sun |
1 000 000 |
Robyn Campbell |
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The subject mostly deals with overseas
companys but does deal with some local companiesbelow
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Trade Reference nr |
Supplier |
Contact |
Surety Value |
Notarial Bonds |
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1 |
Naz Fabrics |
Naz 011 8335555 |
No |
No |
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2 |
Sample IT |
Linda 011 4339859 |
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3 |
Eshamina |
Mark 021 9309319 |
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4 |
Escolys |
INTERNATIONAL COMPANY |
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5 |
Symphony mills |
INTERNATIONAL COMPANY |
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Trade References
Detail
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Nr |
Age of Acc |
Credit Limit |
Max Credit |
Terms |
Average Purchases |
Terms Taken |
Comment |
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1 |
7 Years |
Open |
20000 |
30Days |
10000 to 15000 |
30Days |
Very good |
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2 |
9 Years |
Open |
40000 |
30 Days |
10000 to 40000 |
30 Days |
Verygood |
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3 |
1 Years |
Open |
25000 |
30 Days |
12000 |
30 Days |
good |
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4 |
CAN |
NOT |
GET |
TRADE |
REFERENCE |
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5 |
CAN |
NOT |
GET |
TRADE |
REFERENCE |
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Judgements
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Judgements |
None |
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Possible
Judgements |
None |
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Civil Court |
None |
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RDs |
None |
Business Rescue
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Date registered |
Business rescue practitioner |
Contact Information |
Details |
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None |
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Default Listings
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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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Bank |
ABSA |
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Branch |
Randburg |
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Bank Account Number |
4061598242 |
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Type of Account |
Cheque |
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Account Name |
Black Fabrics |
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Overdraft Facilities |
No |
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Date Opened |
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Bank Comment |
The subject bankers consider them as equal to their normal business
engagements. |
Bank Codes History
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Date requested |
Bank Code |
Enquiry Amount |
Number of RD’s |
RD amount |
RD Date |
Bank Comments |
Years with bank |
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None |
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Previous Bank
Accounts
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Banker |
Branch Code |
Account Holder |
Account number |
Date opened |
Years with bank |
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None |
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Property Interestsfor Company
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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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Financial
Estimates
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CURRENT ASSETS |
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Stock |
2000 000 |
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Debtors |
2000 000 |
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FIXED ASSETS |
200,000 |
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Plant, Equipment, Vehicles |
40000 |
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Property |
None |
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CURRENT LIABILITIES |
500 000 |
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Creditors |
500 000 |
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Loans/ From? |
None |
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LONG TERM LIABILITIES |
None |
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Morgage Bonds |
None |
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Previous Year Turnover |
13 000 000 |
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Estimated Current Year Turnover |
15 000 000 |
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Current Turnover per month |
1 000 000 |
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Current Turnover per annum |
3 000 000 |
Please note the
following:
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Turnover and assets less than R 1,000,000.00 |
The subject falls within the National Credit Act |
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Turnover and assets less than R 2,000,000.00 |
The subject falls within the Consumer Protection Act |
Principals
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Number of Principals |
1 |
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Average Age of Active Principals |
50 |
Active Principals
Principal 1 of 1: STEPHEN BLACK
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Surname |
BLACK |
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First Name |
STEPHEN |
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Other Names |
None |
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Marital Status |
Unknown |
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ID Number |
6202225247085 |
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Verified ID Number |
Yes |
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Current Age |
50 |
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Designation |
Director |
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Status |
Active |
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Appointment Date |
Unknown |
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Physical Address (at time of Appointment) |
1 Kanarie Suite Helikonpark RANDFONTIEN 1759 |
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Postal Address |
Postnet Suite 133 Private Bag X5 NORWOOD 2117 |
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Current Tel Number |
011 2623130 |
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Cell number |
0824459901 |
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Current Fax Number |
Unknown |
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Current Email Address |
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Shareholding |
100% |
Adverse Information for :STEPHEN BLACK
Judgement
|
Number of
/Judgements |
None |
Debt
Review
|
Debt review |
None |
Other
|
Default data |
None |
Business Information for :STEPHEN BLACK
Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
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BLACK FABRICS CC |
2004/053926/23 |
Deregistration
Process |
7 Years 9 Months |
0 |
No |
Previous Business
Interests
|
Average Age of
Previous Business Interests |
19 years |
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Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
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TANYA’S AGENCIES CC |
B1992/019311/23 |
In Business |
19 Years 8
Months |
0 |
No |
Deeds Information
Property
Interestsfor :STEPHEN BLACK
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Title Deed No. |
T13457/2008 |
Erf/Site No. |
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Deeds Office |
PRETORIA |
Physical Address |
HOEDSPRUIT |
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Property Type |
Freehold/Ervin |
Extent / Size |
4900.0SQM |
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Purchase Date |
2007/07/20 |
Purchase price |
554 700 |
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% Ownership |
0 |
Bond Holder |
NEDBANK LTD |
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Bond Number |
B153852008 |
Bond Amount |
1 625 830 |
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Title Deed No. |
T82094/2006 |
Erf/Site No. |
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Deeds Office |
PRETORIA |
Physical Address |
34 Knox Waverly JOHANNESBURG |
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Property Type |
Freehold/Ervin |
Extent / Size |
1518.0QSM |
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Purchase Date |
2005/06/02 |
Purchase price |
1000 000 |
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% Ownership |
0 |
Bond Holder |
ABSA BANK LTD |
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Bond Number |
B1048292006 |
Bond Amount |
1500 000 |
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Title Deed No. |
T66219/2007 |
Erf/Site No. |
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Deeds Office |
CAPETOWN |
Physical Address |
Costa Da Gama
MUIZENBERG |
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Property Type |
Freehold/Ervin |
Extent / Size |
205.0QSM |
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Purchase Date |
2007/06/15 |
Purchase price |
1140 000 |
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% Ownership |
0 |
Bond Holder |
ABSA BANK LTD |
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Bond Number |
B785222007 |
Bond Amount |
1130 000 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.92 |
|
UK Pound |
1 |
Rs.81.21 |
|
Euro |
1 |
Rs.67.85 |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.