Small Companies: Australia Introduced Corporate Law in January 1996, Whereby a New Type

REGISTERED NAME: / INTERNATIONAL CONSOLIDATED BUSINESS ... LTD
SUBMITTED SUBJECT NAME: / INTERNATIONAL CONSOLIDATED BUSINESS ... LTD
ADDRESS / PHONE / FAX PROVIDED: / EXAMPLE STREET, MELBOURNE 3000 AUSTRALIA
P: (00) 00000000
COMMENTS: / NIL
SUMMARY: - / Engaged in – Importers, Wholesalers and Marketers of a wide range of Consumer and Household Goods
Subject was incorporated on 18.10.1989 and has been under present ownership since inception.
10,000 ordinary shares, paid capital AUD10
The subject isnot a member of a larger group operation.
RISK SCORING ASSESSMENT & COMENT: / B
The subject was registered in October 1989 and has a paid capital of AUD10,000.
The subject has been under the same ownership since inception and there are no current registered charges.
Financial information was declined due to privacy concerns although the subject’s local trade current and past trading history has been met with no problems.
The subject imports most of their requirements.
REGISTERED NAME: / INTERNATIONAL CONSOLIDATED BUSINESS PTY LTD
ACN/ABN/
AUSTRALIAN BUSINESS NUMBER: / 00000000000
ACN: / 000000000
OTHER TRADING NAME(S): / N..
REGISTERED ADDRESS: / Example Street, Melbourne, Victoria 3000, Australia
HEAD OFFICE ADDRESS: / Example Street, Melbourne, Victoria 3000, Australia
DATE OF INCORPORATION or ESTABLISHMENT OF BUSINESS: / 18.10.1989
PAID CAPITAL: / 10,000 ordinary shares, paid capital AUD10
TELEPHONE NUMBER: / 0000000000000
FAX NUMBER: / 0000000000000
WEB SITE: / NIL
EMAIL: / Declined
(contact subject by telephone)
CHANGE OF NAME: / The subject has not had a change of name since inception.
CHANGE IN SHARES: / The subject has had a change in shares in June 2004 and May 2006.
FINANCIAL YEAR END Date: / 30th of June
FINANCIALS: / Not lodged
AUDITORS: / Not appointed
CHARTERED ACCOUNTANTS: / D...
Melbourne, Victoria, Australia
SOLICITORS: / Not appointed
SALES: / Declined
PAYMENTS: / Met with no problems
LEGAL ACTIONS: / Nil recorded
EMPLOYEES: / A staff of 25 is employed
BANK: / Declined
(although reported is one of the major Australian banks)
RELATED COMPANIES: -
DIRECT PARENT COMPANY: / NIL
ULTIMATE PARENT COMPANY: / NIL
SUBSIDIARIES: / NIL
SISTER COMPANIES: / 1 sister company – declined company name

Small Companies: Australia introduced corporate law in January 1996, whereby a new type of structure became available. To be a ‘small' company, the structure must meet at least two of the following criteria:

Gross revenue less than A$10 million
Gross assets less than A$5 million
Less than 50 staff

Small companies may have as few as one director and only one member, either from time of incorporation, or by an existing company making the necessary changes. Such companies are exempt from publicly lodging financial statements and are not required to hold an annual general meeting.

OPERATIONS:

General:

The subject was registered in Victoria, Australia in October 1989 as a proprietary company.

The subject was registered in 1989 and founded by Mr P... C. Withers to start as a new business.

The subject is classified as a buying office and acts as importers, wholesalers and marketers of a wide range of household and consumable products.

Products include, air purifiers, home and garden products, household cleaning tools and related accessories.

The subject’s products are distribution throughout Australia and USA, sold to businesses such as retail outlets and DIY stores.

The subject imports most of their requirements sourced offshore (manufacturers) such as China and other Asian countries etc.

The subject exports to USA and other countries.

The subject holds brand names (declined to name the brand names) and also represents a number of manufacturers brand names.

Newspaper Articles of particular note:

NIL

Key Brands and Agency Distribution agreements:

Brand Names:

Declined

Agencies Held:

Declined

Operations are conducted from premises situated at the heading address.

Head Office:

Example Street, Melbourne, Victoria 3000 Australia

No P.O. Box number is held

(administration)

Formerly of:

Example Street, Melbourne, Victoria 3000, Australia

Branches:

NIL

BACKGROUND:

Shares are held as follows:10,000 ordinary shares, paid capital AUD10

W..., P... C...10,000

The above information is in accordance with the latest Company Statement (Annual) lodged with the Australian Securities and Investments Commission as at report date.

Company operations commenced 18.10.1989

Directors’ information in detail is as follows:

W..., P... C...

Example Street, Melbourne, Victoria 3006, Australia

Date of Birth: 24.8.1961 – Melbourne, Victoria, Australia

Appointed: 18.10.1989

Secretary:

W..., P... C...

Example Street, Melbourne, Victoria 3006, Australia

Date of Birth: 24.8.1961 – Melbourne, Victoria, Australia

Appointed: 18.10.1989

W..., P... C... is a working director and is the subject’s Managing Director. It was reported that he is a director of another company (name not disclosed), which works closely with the subject

REGISTERED CHARGES OVER SUBJECT’S ASSETS:

There are no Registered Charges over the subject’s assets recorded.

INVESTIGATION:

A direct interview was held with the subject’s Chief Operating Officer Mr C... T...l on 21.2.2011 as the Managing Director Mr P... W... is not available for comment. It was reported that the subject’s financial year ends 30th of June each year and declined to provide any financial information including annual revenue figures, stating that such information is private and confidential to the company. He requested details to the direct inquirer.

A previous interview was held with the subject’s Managing Director Mr P... W... on 8.9.2006, who confirmed basic operational and trading details. He did decline the majority of requested information advising that the subject is a private company and owed no money and paid for everything ‘up front’

A L... T... Search has not been undertaken to ascertain if any land stands in the subject’s name. An additional Search can be undertaken on request.

LEGAL ACTIONS:

Nothing of an adverse nature has been recorded against subject.

HISTORY

- Age of company, start up, acquired other business, etc / 1 to 8 / 7

PAID CAPITAL

- Reasonable capital commitment for business of this size, $2 company, Unit Trust, Sole Trader or Partnership, etc. / 1 to 8 / 2

SCALE/SCOPE OF OPERATIONS

- Number of employees, interstate/other branches, subsidiary companies etc / 1 to 9 / 6

DIRECTORS BACKGROUND

- Date of appointment, industry specialisation, Tertiary/professional competence, complimentary Board skills, etc / 1 to 5 / 5

FINANCE

- (Un)encumbered, self-funded, financed by Bank or Finance companies, etc / 1 to 10 / 7
TRADE REFEREES
- Number/size of credit references, time taken, history, referees' general comments, etc / 1 to 14 / 14

OTHER FACTORS

- additional issues specific to the subject which in the Analyst’s view enhance suitability for unsecured credit / 0 to 6 / 2

AFFILIATION (MERIT SCORE APPLIES)

- likely support from sister or parent company, or other group company association / 1 to 5 / 1

CREDIT INSURANCE if Subject insures their Trade Debts (MERIT SCORE APPLIES)- More for Whole of Turnover Insurance, intermediate for 'Top 10 or 20 accounts', less for Specific account cover

/ 1 to 5 / 0

SELF – ENCUMBERED (NEGATIVE SCORE APPLIES - score ‘0’ if not applying)

- mortgage in favour of Director, Shareholder wife/mother, related company, vendor or Supplier - very important / -3 to –6 / 0
LITIGATION (NEGATIVE SCORE APPLIES - score ‘0’ if not applying)
- Collection, legal action or other adverse info - assessed frequency, amount, how recent & whether disputed / -1 to -4 / 0
FACTORING DEBTS (NEGATIVE SCORE APPLIES - score ‘0’ if not applying)
- Debtors partially/totally funded, resource used, etc / -3 to -5 / 0
TOTAL SCORE: / 60 / 44
SCORING: -

A(50-60)EXCELLENTAppears to have a sound financial base with a strong

capability to meet trading commitments; liquidity looks healthy

B(40-49)GOODApparently healthy, with adequate working capital to meet normal commitments

C(30-39)AVERAGEAppears to have average ability to meet trading commitments

D(20-29)LIMITEDAppears to have limited ability to meet commitments and some

caution needs to be exercised

E(Below 20)POORExtreme caution needs to be exercised when dealing with this company

NRNot RatedNot rated due to lack of information

- see 'SCORING & Comment' above