MIRA INFORM REPORT

 

 

Report Date :

03.09.2013

 

IDENTIFICATION DETAILS

 

Name :

TILE COLLAGE (PTY)LTD

 

 

Registered Office :

Corner Of Atturbury And Winder, Atturbury, Decor Center

 

 

Country :

South Africa

 

 

Date of Incorporation :

16.11.2010

 

 

Com. Reg. No.:

M2010/022556/07

 

 

Legal Form :

Private Company

 

 

Line of Business :

·         Suppliers of ceramic and natural tiles

·         Manufacturer of other textiles

 

 

No. of Employees :

09

 

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 

 

 

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. State power supplier 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

TILE COLLAGE (PTY)LTD

Country

South Africa

Subject Contact Person

SEAN PHILPOTT - Managing Director

Assessment

This is an established business.

 

On investigation contact was made with SEAN PHILPOTT the Managing Director who assisted with most of the required information.

 

The financial information was declined due to it being confidential.

 

We were only able to obtain two trade references due to one of the subject's suppliers declining to assist.

 

The subject has only provided 3 suppliers as references.

 

Please see the available information on the subject below.

 

 

Company information

 

Registered Name

TILE COLLAGE (PTY)LTD

Trading as/ Division Name

TILE COLLAGE

Previous Name

None

Date of Name Change

None

Registration Number

M2010/022556/07

Registration Date

2010/11/16

Date Commenced Trading

2010-11-16

Age of Business

2 Years 9 Months

History of Business

TILE COLLAGE (PTY)LTD commenced trading as a new company in 2010.

History of Principals

There is currently 1 active director within the subject

Shareholders/Members/Partners of subject and % holding

100% - SEAN PHILPOTT

Authorised Share Capital

R1000.00

Issued Share Capital/Members Contribution

R 100.00

Status

In Business

Operations Assessment

SUPPLIERS of CERAMIC AND NATURAL TILES

Industry/ Customers

The construction industry and the general public

Export

Unknown

Import

Unknown

Major Industry Code / SICC

31290

Definition of Code

Manufacture of other textiles n.e.c.

Head Office Physical Address

CORNER OF ATTURBURY AND WINDER, ATTURBURY, DECOR CENTER

Head Office Postal Address

PO Box 1786, GARSFONTEIN EATS, 8560

Current Tel Number

0879438128

Cell Number

Unavailable

Current Fax Number

0872311395

Current Email Address

Unavailable

Web Site Address

Unavailable

 

 

Auditors information

 

Company Registered Name

CERTIFIED MASTER AUDITORS (SOUTH AFRICA ) INC

Trading Name

Unavailable

Registration Number

M2006/019001/21

Physical Address

CMA INC OFFICE AND CONFERENCE PARK, 234 ALEXANDRA AVENUE, HALFWAY HOUSE, 1685

Postal Address

PRIVATE BAG X168, HALFWAY HOUSE, 1685

Contact Person

MARIUS JOHANNES MARTIZ

Contact Number

0823352692

Email

Unavailable

Principals

1

Judgements Against Subject

None

Judgements Against Principals

None

Subject Verified as Client

Yes

Practice Number

901819

VAT Number

Unavailable

Tax Number

9320951156

BEE Status

Unavailable

Financial Year End

March

No of years in Business

Unavailable

Website

Unavailable

 

Previous Auditors Information - No Information on Record

 

Tax Information - No Information on Record

 

 

Black Economic Empowerment

 

Status

Yes

Score

4.00

Expire Date

 

BEE Certificate Available

No

Comment

 

 

ISO Information - No Information on Record

 

Work Mans Information - No Information on Record

 

Company Structure

 

Subsidiaries Information - No Information on Record

 

Employees

Number of Employees

9

1. Salaried employees

9

2. Waged employees

 

3. Permanent employees

9

 

Company Fleet

 

Company Fleet

No of vehicles:

Owned/Leased

Value

Outstanding Balance

Fleet Operations

 

 

 

 

The Fleet is made up of

2

Comment

 

Light delivery Vehicles

2

Owned

 

 

 

 

Offices

 

Offices

Offices

Head Office Owned/ Rented

Leased

Rental Company

Broil

Type of Premises

Showroom, offices and a warehouse

 

 

Branch Information - No Information on Record

 

 

Management Overview

 

Organisational Chart - No Information on Record

 

Company Structure (Ownership)

Note: One level up and all levels down

 

Holding

Company

Sub

Comment

100% - SEAN PHILPOTT

TILE COLLAGE (PTY) LTD

 

 

 

Key Deals - No Information on Record

 

 

 

Trade References

 

Trade Reference nr

Supplier

Contact

Surety Value

Notarial Bonds

Comment

1

KINGS OF TILES

0117606391

 

 

DECLINED TO ASSIST

2

TILE PRO

0117606391

 

 

 

3

TILE TORIA

0215113125

 

 

 

 

Trade References Detail

 

Nr

Age of Acc

Credit Limit

Max Credit

Terms

Average Purchases

Terms Taken

Comment

1

 

 

 

 

 

 

 

2

1 YEAR

R 300000.00

R 250000

30 Days

R 200000

30 Days

Good account

3

1 Years

R 800000.00

R 300000

30 Days

R150000

30 Days

Good Account

 

 

Adverse Information on Subject

 

Judgements - No information on record

 

Business Rescue - No Information on Record

 

Default Listing - No information on record

 

Notarial Bonds - No information on record

 

 

Bank information

 

Bank

NEDBANK

Branch

CENTURION

Brach Code

198765

Bank Account Number

1015923569

Type of Account

CURRENT

Account Name

TILE COLLAGE (PTY)LTD

Overdraft Facilities

Yes

Bank Code

We are still awaiting a bank code

 

Bank Code History - No Information on Record

 

Previous Bank Account Information - No Information on Record

 

Deeds Information - No information on record

 

 

Principals

 

Number of Principals

1

Average Age of Active Principals

38

 

Active Principals

 

Principal - 1of 1 SEAN   SEAN F PHILPOTT

Surname

SEAN F PHILPOTT

First Name

SEAN

Other Names

FRANCOIS

Marital Status

 

ID Number

7502125109080

Verified ID Number

Yes

Current Age

38 Years 6 Months

Designation

Director

Status

Active

Appointment Date

2012/07/01

Physical Address (at time of Appointment)

820 RESEDA STREET, MORELETAPARK, PRETORIA, 0181

Postal Address

820 RESEDA STREET, MORELETAPARK, PRETORIA, 0181

Current Tel Number

0123352636

Cell number

0879438128

Shareholding/Membership

0.00

 

Principal's Adverse - No information on record

 

Business Information for SEAN  SEAN F PHILPOTT

 

Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

TILE COLLAGE (PTY) LTD

M2010/022556/07

In Business

3 Years 3 Months

0

No

 

TILE WIZARD (PTY) LTD

M2010/022540/07

In Business

3 Years 3 Months

0

No

 

 

Principal's Previous Business Interests - No information on record

 

Principal's Deeds Information - No information on record

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.86

UK Pound

1

Rs.102.52

Euro

1

Rs.87.06

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.