MIRA INFORM REPORT

 

 

Report Date :

31.10.2013

 

IDENTIFICATION DETAILS

 

Name :

FELLOWES BESWICK (PTY)LTD

 

 

Formerly Known as:

BESWICK OFFICE PRODUCTS

 

 

Registered Office :

387 Devereux Avenue, Winchester, Extension 1, 2091

 

 

Country :

South Africa

 

 

Date of Incorporation :

06.10.2004

 

 

Com. Reg. No.:

M2004/028904/07

 

 

Legal Form :

Private Company 

 

 

Line of Business :

·         Imports and Distributes of office stationery

·         Wholesale trade in books and stationery

 

 

No. of Employees :

75

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

South Africa

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

south africa - ECONOMIC OVERVIEW

 

South Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors and a stock exchange that is the 15th largest in the world. Even though the country possesses modern infrastructure that support a relatively efficient distribution of goods to major urban centers throughout the region, some components retard growth. The economy began to slow in the second half of 2007 due to an electricity crisis. State power supplier Eskom encountered problems with aging plants and meeting electricity demand necessitating "load-shedding" cuts in 2007 and 2008 to residents and businesses in the major cities. Subsequently, the global financial crisis reduced commodity prices and world demand. GDP fell nearly 2% in 2009 but has recovered since then. Unemployment, poverty, and inequality remain a challenge, with official unemployment at nearly 25% of the work force. Eskom has built two new power stations and installed new power demand management programs to improve power grid reliability. South Africa's economic policy has focused on controlling inflation, however, the country has had significant budget deficits that restrict its ability to deal with pressing economic problems. The current government faces growing pressure from special interest groups to use state-owned enterprises to deliver basic services to low-income areas and to increase job growth.

 

Source : CIA

 

Subject Name

FELLOWES BESWICK (PTY)LTD

Country

South Africa

Subject Contact Person

MARTIN ERASMUS - Financial Manager

Assessment

This is an established business. On investigation we made contact with MARTIN ERASMUS the financial manager who assisted with all of the required information. There subject is meeting commitments timeously with suppliers. We obtained a bank code C for R 500 000 over a period of 30 days. Please see the available information on the subject below.

 

 

Company Information

 

Registered Name

FELLOWES BESWICK (PTY)LTD

Trading as/ Division Name

BESWICK

Previous Name

BESWICK OFFICE PRODUCTS

Date of Name Change

2013-07-08

Registration Number

M2004/028904/07

Registration Date

2004/10/06

Date Commenced Trading

2004-10-06

Age of Business

9 Years

History of Business

The business was established in 2004 and operations commenced immediately.

History of Principals

There are 5 active directors within the business

Shareholders/Members/Partners of subject and % holding

49 % - FELLOWES BESWICK INTERNATIONAL, 41 % -BESWICK FAMILY INVESTMENT HOLDINGS, 10 % - ANDY WOOD

Authorised Share Capital

R 4000.00

Issued Share Capital/Members Contribution

R 100.00

Status

In Business

Operations Assessment

The subject imports and distributes office stationery

Industry/ Customers

All major wholesalers and retailers

Export

Yes

Import

Yes

Major Industry Code / SICC

61392

Definition of Code

Wholesale trade in books and stationery

Head Office Physical Address

387 DEVEREUX AVENUE, WINCHESTER, EXTENSION 1, 2091

Head Office Postal Address

P 0 BOX 82319, SOUTHDALE, 2135

Current Tel Number

0114332686

Cell Number

Unavailable

Current Fax Number

0116802166

Current Email Address

warren@beswick.co.za

Web Site Address

www. bes wic k. co. za

 

 

Auditors Information

 

Company Registered Name

COHEN HILL FUNK AND COMPANY

Trading Name

Unavailable

Registration Number

Unavailable

Physical Address

Unavailable

Postal Address

P 0 BOX 64087, HIGHLANDS NORTH, 2037

Contact Person

Unavailable

Contact Number

0114834160

Email

Unavailable

Principals

 

Judgements Against Subject

Unavailable

Judgements Against Principals

Unavailable

Subject Verified as Client

Yes

Practice Number

920142

VAT Number

Unavailable

Tax Number

Unavailable

BEE Status

Unavailable

Financial Year End

Unavailable

No of years in Business

Unavailable

Website

Unavailable

Comment

We are still awaiting information from the auditors

 

Previous Auditors Information - No Information on Record

 

 

Tax Information

 

Vat Number

4850217292

Status

ACTIVE

Vat Liable Date

2005/03/01

Tax Number

9006774161

Tax Clearance Expire Date

 

Financial Year End

March

Comment

 

 

Black Economic Empowerment Information - No Information on Record

 

ISO Information - No Information on Record

 

Workman's compensation

 

Registered

Yes

Compliance Certified

Yes

Comment

 

 

 

Company Structure

 

Subsidiaries

 

Subsidiary Company

BESWICK OFFICE PRODUCT SERVICE COMPNAY

Shareholding

49 %

Registration Number

2007/020174/07

Import / Export

 

Comment

 

Employees

Number of Employees

75

1. Salaried employees

75

2. Waged employees

 

3. Permanent employees

75

4. Casual employees

 

5. Contracted employees

 

Comment

 

Company Fleet

Company Fleet

No of vehicles:

Ownerd/Leased

Value

Outstanding Balance

Fleet Operations

 

 

 

 

The Fleet is made up of

16

Comment

 

Cars

3

Owned

 

 

Light delivery Vehicles

13

Owned

 

 

 

 

Offices

 

Offices

Offices

Head Office Owned/ Rented

Leased

Rental Company

STAND 800 WINTER SPECIALS

Owned by

 

Value

 

Bond

 

Bank

 

Lease Agreement

 

Lease Expire Date

 

Type of Premises

Offices and warehouse

Comment

 

Branch Information

Branches Names

Country

Province

FELLOWES BESWICK (PTY)LTD

South Africa

DURBAN

FELLOWES BESWICK (PTY)LTD

South Africa

PORT ELIZABETH

FELLOWES BESWICK(PTY)LTD

South Africa

CAPE TOWN

Branch Detail Information

Branches Owned/ Rented

Leased

Rental Company

Unavailable

Owned by

N/A

Value

 

Bond

 

Bank

N/A

Lease Agreement

Unavailable

Lease Expire Date

Unavailable

Type of Premises

Warehouse and Offices

Comment

 

Branches Owned/ Rented

Leased

Rental Company

Unavailable

Owned by

N/A

Value

 

Bond

 

Bank

N/A

Lease Agreement

Unavailable

Lease Expire Date

Unavailable

Type of Premises

Warehouse and Offices

Comment

 

 

Branches Owned/ Rented

Leased

Rental Company

Unavailable

Owned by

N/A

Value

 

Bond

 

Bank

N/A

Lease Agreement

Unavailable

Lease Expire Date

Unavailable

Type of Premises

Warehouse and Offices

Comment

 

 

 

Management Overview

 

Organisational Chart - No Information on Record

 

Company Structure (Ownership)

Note: One level up and all levels down

 

Holding

Company

Sub

Comment

49 % - FELLOWES

BESWICK INTERNATIONAL

FELLOWES BESWICK (PTY) LTD

 

 

41 % - BESWICK FAMILY INVESTMENT HOLDINGS

FELLOWES BESWICK (PTY) LTD

 

 

10 % - ANDY WOOD

FELLOWES BESWICK (PTY) LTD

 

 

 

Key Deals - No Information on Record

 

 

Trade References

 

Trade Reference nr

Supplier

Contact

Surety Value

Notarial Bonds

Comment

1

NUCLEUS

0112625744

 

 

 

2

NAMPAK

0118766000

 

 

 

3

DANCO

011273900

 

 

 

 

Trade References Detail

 

Nr

Age of Acc

Terms

Average Purchases

Terms Taken

Comment

1

5 Years

30 Days

R150000

30 Days

Excellent account. The subject does not have a credit limit with the supplier

2

4 YEAS

30 Days

R100000

30 Days

Good Account

3

4 Years

30 Days

 

30 Days

Good Account. Figures are considered

confidential.

 

 

Adverse Information on Subject

 

Judgements - No information on record

 

Default Listing - No information on record

 

Notarial Bonds - No information on record

 

 

Bank Information

 

Bank

STANDARD BANK

Branch

SOUTH DALE

Brach Code

051001

Bank Account Number

202760081

Type of Account

CURRENT

Account Name

BESWICK OFFICE PRODUCTS (PTY) LTD

Overdraft Facilities

None

Bank Code

C - For R 500 000

Bank Comment

The subject's bankers consider them good for all business normal engagements

 

Bank Code History - No Information on Record

 

Previous Bank Account Information - No Information on Record

 

Deeds Information - No information on record

 

 

Financial Information

 

Financial Estimates

 

CURRENT ASSETS

R 59000000.00

Stock

 

Debtors

 

FIXED ASSETS

R 8000000.00

Plant, Equipment, Vehicles

 

Property

 

CURRENT LIABILITIES

R10000000.00

Creditors

 

Loans/ From?

 

Loan Details

 

LONG TERM LIABILITIES

 

Morgage Bonds

 

Previous Year Turnover

R 90000000.00

Estimated Current Year Turnover

R110000000.00

Current Turnover per month

R12000000.00

Current Turnover per annum

R144000000.00

Comment

 

 

Please note the following:

Turnover and assets less than R 1,000,000.00

The subject falls within the National Credit Act

Turnover and assets less than R 2,000,000.00

The subject falls within the Consumer Protection Act

 

 

Principals

 

Number of Principals

5

Average Age of Active Principals

53

Active Principals Principal - 1of 5 JOHN FELLOWES

Surname

FELLOWES

First Name

JOHN

Other Names

EVERETT

Marital Status

 

ID Number

7804080000000

Verified ID Number

No

Current Age

35 Years 6 Months

Designation

Director

Status

Active

Appointment Date

2012/06/01

Physical Address (at time of Appointment)

500 E ILLINOIS STREET, ILLINOIS 60187, UNITED STATES OF AMERICA, 0000

Postal Address

500 E ILLINOIS STREET, ILLINOIS 60187, UNITED STATES OF AMERICA, 0000

Current Tel Number

0114332686

Cell number

Unavailable

Shareholding/Membership

0.00

 

Business Information forJOHN FELLOWES Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

FELLOWES BESWICK (PTY)LTD

M2004/028904/07

In Business

9 Years 9 Months

0

No

 

 

Principal Previous Business Interest

Average Age of Previous Business

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

 

 

 

 

 

 

 

 

Principal - 2of 5 JAMES FELLOWES

Surname

FELLOWES

First Name

JAMES

Other Names

EVERETT

Marital Status

 

ID Number

4606040000000

Verified ID Number

No

Current Age

67 Years 4 Months

Designation

Director

Status

Active

Appointment Date

2012/06/01

Physical Address (at time of Appointment)

243- E JEFRSON, WHEATON, ILLINOIS 60187, UNITED STATES OF AMERICA, 0000

Postal Address

243- E JEFRSON, WHEATON, ILLINOIS 60187, UNITED STATES OF AMERICA, 0000

Current Tel Number

0114332686

Cell number

Unavailable

Shareholding/Membership

0.00

 

Business Information forJAMES FELLOWES Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

FELLOWES BESWICK (PTY)LTD

M2004/028904/07

In Business

9 Years 9 Months

0

No

 

 

Principal Previous Business Interest

Average Age of Previous Business

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

 

 

 

 

 

 

 

 

Principal - 3of 5 IAN BESWICK

Surname

BESWICK

First Name

IAN

Other Names

None

Marital Status

 

ID Number

4209205075008

Verified ID Number

Yes

Current Age

71 Years 1 Months

Designation

Director

Status

Active

Appointment Date

2004/10/06

Physical Address (at time of Appointment)

37 LINDEQUE STREET, MEYERSDAL, ALBERTON, 1448

Postal Address

P 0 BOX 82319, SOUTHDALE, 2135

Current Tel Number

0114332686

Cell number

0824516029

Shareholding/Membership

0.00

 

Business Information forlAN BESWICK

Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

BESWICK FAMILY INVESTMENT HOLDINGS (PTY) LTD

M1993/001521/07

In Business

20 Years 8 Months

0

No

 

BESWICK MACHINERY (PTY) LTD

M1991/006599/07

In Business

22 Years 10 Months

0

No

 

FELLOWES BESWICK (PTY)LTD

M2004/028904/07

In Business

9 Years 9 Months

0

No

 

LASERPAC (PTY) LTD

M1987/000199/07

In Business

26 Years 2 Months

0

No

 

STAND 800 WINCHESTER HILLS (PTY) LTD

M1983/005078/07

In Business

30 Years 6 Months

0

No

 

WEB GRAPHICS (PTY) LTD

M1991/004166/07

In Business

22 Years 10 Months

1

No

 

Principal's Deeds Information - No information on record

 

Principal Previous Business Interest

Average Age of Previous Business 15 Years

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

BES ONE (PTY)LTD

M1996/012138/07

Deregistration Final

17 Years 5 Months

0

No

 

NARROW WEB MACHINERY (PTY)LTD

M1999/024669/07

Deregistration Final

14 Years 2 Months

0

No

 

 

Principal - 4of 5 GAVIN BESWICK

 

Surname

BESWICK

First Name

GAVIN

Other Names

None

Marital Status

 

ID Number

6703275167008

Verified ID Number

Yes

Current Age

46 Years 7 Months

Designation

Director

Status

Active

Appointment Date

2004/10/06

Physical Address (at time of Appointment)

387 DEVEREUX AVENUE, WINCHESTER HILLS, JOHANNESBURG, 2091

Postal Address

P 0 BOX 82319, SOUTHDATE, 2135

Current Tel Number

0114322686

Cell number

0828257143

Shareholding/Membership

0.00

 

Business Information forGAVIN BESWICK

Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

BESWICK FAMILY INVESTMENT HOLDINGS (PTY) LTD

M1993/001521/07

In Business

20 Years 8 Months

0

No

 

BESWICK MACHINERY (PTY) LTD

M1991/006599/07

In Business

22 Years 10 Months

0

No

 

BESWICK OFFICE PRODUCTS SERVICING (PTY) LTD

M2007/020174/07

In Business

6 Years 6 Months

0

No

 

FELLOWES BESWICK (PTY)LTD

M2004/028904/07

In Business

9 Years 9 Months

0

No

 

THE BOP SERVICING EMPLOYEE COMPANY (PTY) LTD

M2007/020220/07

In Business

6 Years 6 Months

0

No

 

Principal's Deeds Information - No information on record

 

Principal Previous Business Interest

Average Age of Previous Business

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

 

 

 

 

 

 

 

 

Principal - 5of 5 ANDREW WOOD

 

Surname

WOOD

First Name

ANDREW

Other Names

None

Marital Status

 

ID Number

6705295104085

Verified ID Number

Yes

Current Age

46 Years 5 Months

Designation

Director

Status

Active

Appointment Date

2004/10/06

Physical Address (at time of Appointment)

10 ROOIGRAS AVENUE, BASSONIA, ALBERTON, 2190

Postal Address

P O BOX 82319, SOUTHDALE, 2135

Current Tel Number

0114320298

Cell number

0824490118

Shareholding/Membership

10%

 

Business Information forANDREW WOOD

Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

BESWICK OFFICE PRODUCTS SERVICING (PTY) LTD

M2007/020174/07

In Business

6 Years 6 Months

0

No

 

FELLOWES BESWICK (PTY)LTD

M2004/028904/07

In Business

9 Years 9 Months

0

No

 

THE BOP SERVICING EMPLOYEE COMPANY (PTY) LTD

M2007/020220/07

In Business

6 Years 6 Months

0

No

 

Principal's Deeds Information - No information on record

 

Principal Previous Business Interest

 

Average Age of Previous Business                       31 Years

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

BESWICK MACHINERY (PTY) LTD

M1991/006599/07

In Business

22 Years 10 Months

0

No

 

COURIER INTERNET EXCHANGE (PTY)LTD

M1973/003272/07

Voluntary Liquidation

40 Years 4 Months

0

Yes

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.46

UK Pound

1

Rs.98.99

Euro

1

Rs.84.72

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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