Business Information Report
KENTMORE CLOTHING (MANUFACTURING) PTY LTD
DUNS: 75-468-3795
ACN: 005370907
ABN: 80005370907
Subsidiary of: GORMAN PRINTING CO INC
SAN FRANCISCO
CA
United States
Trading as: KENTMORE GOODFIT
Line of Business: MFR MENS & YOUTH CLTHG & HLDG COMPANY
Chief Executive Officer: PATRICK WILLIAM KENT
Managing Director
Founded: 1960
Current control: 1990
Industry SIC Codes: 2321 - Manufactures men's and boy's furnishings
2322 - Manufactures men's and boy's underwear and nightwear
2325 - Manufactures men's and boy's trousers and slacks
2326 - Manufactures men's and boy's work clothing
2329 - Manufactures men's and boy's clothing
6719 - Engaged as holding companies
Employs: 26 (320 Group)
Import: Yes
Export: Yes
Sales: $5,000,000 (Projected)
Net Worth: $147,033
Rating: --
SUMMARY INFORMATION
________________________________________________________________________________
Collections: 3 Court Actions: 5
Past Enquiries: 0 Registered Charges: 0
INCORPORATION
________________________________________________________________________________
State: Date Incorporated:
Type: UNKNOWN Status: UNKNOWN
Name Start:
Head Office
________________________________________________________________________________
Street Address: 55 MARLAND RD
COLLINGWOOD
VIC 3066
Postal Address: PO Box 23
Collingwood
VIC 3066
Tel: 03 94172022
Fax: 03 94172200
Mobile: 0417 202200
Toll Free: 136 269
Email Address: kentmore@kentmore.com
Website: www.kentmore.com.au
Trade Payments *1
_______________________________________________________________________________
Date Supplier Industry Terms Usually Maximum Current Beyond
Pays Outstanding Balance Terms
---- -------- -------- ----- ------- ----------- ------- ------
30/04/02 Ref A 30 30 $7,500 $7,500
30/04/02 Ref B 30 30 $250 $250
24/04/02 Ref C 30 30
31/03/02 Ref D 30 30 $500 $500 $250
31/01/02 Ref A 30 30 $2,500 $2,500
31/01/02 Ref B 30 30 $5,000 $100 $100
30/11/01 Ref B 30 30 $5,000 $250
30/10/01 Ref A 30 30 $500
30/09/01 Ref B 30 30 $5,000 $5,000
30/09/01 Ref A 30 30 $500
05/09/01 Ref E 30 150 $5,000 $3,500 $3,500
31/08/01 Ref B 30 30 $1,000 $1,000
31/08/01 Ref A 30 30 $500
05/08/01 Ref E 30 120 $5,000 $4,000 $4,000
30/07/01 Ref B 30 30 $500 $500
30/07/01 Ref A 30 30 $500
05/07/01 Ref E 30 90 $5,000 $5,000 $5,000
30/06/01 Ref A 30 30 $500
Collections *2
_______________________________________________________________________________
Date Creditor Amount Comment
01 Jan 1999 UNDISCLOSED $1,852.00
13 Mar 1999 UNDISCLOSED $840.00
31 Jan 2001 UNDISCLOSED $3,000.00
Public Filings
_______________________________________________________________________________
COURT ACTIONS & REGISTERED CHARGES *3
Defendant: KENTMORE CLOTHING (MANUFACTURING) PTY LTD
Action: COUNTY COURT JUDGMENTS
Address: 56 Marland Rd, COLLINGWOOD Vic
Plaintiff: Headmod Nominees Pty Ltd
Amount: $30,000.00 Date: 28 Nov 1999 File No: 53268/99
Issue: Australia 34 2001
____________________________________________________________
Defendant: Kentmore Clothing (Manufacturing) Pty Ltd
Action: SUMMONSES
Address: 55 Marland Rd Collingwood Vic
Plaintiff: Comtel Services Pty Ltd
Details:
Amount: $2,629.00 Date: 13 Dec 2001 File No: 4174/01
Issue: VIC 01 2000
____________________________________________________________
Defendant: Kentmore Clothing (Manufacturing) Pty Ltd
Action: COUNTY COURT JUDGMENTS
Address: 55 Marland Rd Collingwood Vic
Plaintiff: CC
Details:
Amount: $25,300.00 Date: 26 Jan 2001 File No: 17623/01
Issue: VIC 05 2001
____________________________________________________________
Defendant: KENTMORE CLOTHING (MANUFACTURING) PTY LTD
Action: SUMMONSES
Address: COLLINGWOOD
Plaintiff: ABC Pty Ltd
Amount: $10,000.00 Date: 20 Dec 2000 File No: 6354/2000
____________________________________________________________
Defendant: Kentmore Clothing (Manufacturing) Pty Ltd
Action: SUMMONSES
Address: 55 Marland Rd Collingwood Vic
Plaintiff: JOHN SMITH
Details:
Amount: $6,018.00 Date: 20 May 2000 File No: 1335/98
Issue: WA 10 1998
____________________________________________________________
On 15 Jan 2002, Patrick Kent, Managing Director
stated court action dated 20 May 2000 was settled
FINANCE
_______________________________________________________________________________
For the period ending 30 Jun 2001 the subject was shown to be a Small
Proprietary Company.As a Small Proprietary Company, subject is not required to
lodge its financial accounts at the Australian Securities and Investments
Commission, nor is required to appoint an auditor.
Auditors: Mike Smith & Elaine Chartered Accountants 500 Bourke St, Mel
Comparative
30 Jun 1999 30 Jun 2000 30 Jun 2001
CURRENT ______________________________________________________
Assets 800,981 822,724 941,101
Liabilities 728,172 719,172 822,946
________ ________ ________
WORKING CAPITAL 72,809 103,552 118,155
OTHER
Tangible Assets 265,151 274,408 317,840
Liabilities 253,200 273,200 288,962
________ ________ ________
NET WORTH 84,760 104,760 147,033
ANNUAL SALES 2,576,913 2,963,449 3,259,793
PROFIT AFTER TAX 38,625 44,418 88,859
INVENTORY 291,010 310,054 352,057
CASH 2,184 2,366 3,112
ACCOUNTS RECEIVABLE 270,621 300,940 356,032
FIXED ASSETS 247,114 265,151 304,608
ACCOUNTS PAYABLE 192,449 169,776 187,956
______________________________________________________
Balance Sheet
_______________________________________________________________________________
As at 30 Jun 2001
____________________________________ ____________________________________
Cash 3,112 Trade Creditors 187,956
Trade Debtors 356,032 Loans Secured 234,212
Stock 352,057 Provisions 8,902
Due from related Cos 164,000 Other 27,632
Other current assets 65,900 Other current 364,244
TOTAL CURRENT ASSETS 941,101 liabilities
TOTAL CURRENT 822,946
Plant & Equipment 281,987 LIABILITIES
Fixtures & Fittings 22,621
TOTAL FIXED ASSETS 304,608 Creditors & Borrowings 265,360
Loans unsecured 23,602
Shares in Subsidiaries 10,342 TOTAL NON-CURRENT 288,962
TOTAL INVESTMENTS 10,342 LIABILITIES
Other 2,890 Paid Capital 29,058
TOTAL OTHER 2,890 Share Capital 8,000
Reserves 17,760
Goodwill 3,500 Retained Profit 95,,715
TOTAL INTANGIBLES 3,500 TOTAL SHAREHOLDER 150,533
EQUITY
TOTAL ASSETS 1,262,441 TOTAL LIABILITIES 1,262,441
____________________________________ ____________________________________
Net Worth
____________________________________
SHAREHOLDERS FUNDS 150,533
TOTAL INTANGIBLES 3,500
TANGIBLE NET WORTH 147,033
____________________________________
Profit & Loss
_______________________________________________________________________________
30 Jun 1999 30 Jun 2000 30 Jun 2001
Net Operating Profit before 54,086 55,900 106,630
tax & abnormal items
Abnormal Items
Net Operating Profit(Loss) -11450 -9636 -24442
before tax after abnormal it
Income Tax (15,461) (11,482) (17,771)
Net Profit (Loss) after tax 38,625 44,418 88,859
Plus (minus) (27,461)
extraordinary items
Profit (loss) after 11,164 44,418 88,859
tax & extraordinary items
Plus (minus) accumulated 31,432 42,596 87,014
profit(loss) brought forward
Less dividends (52,633)
Transfers to/from reserves
Accumulated Profit (loss) 42,596 87,014 123,240
carried forward
BANK
_______________________________________________________________________________
Daily Transactional Bank : Australia and New Zealand Banking Group.
Financing Bank : Commonwealth Bank of Australia.
Subject's secured overdraft facility of $100,000 is currently not being used and
is secured by company assets.
Subjecthas been with the Commonwealth Bank of Australia since 1989
Comments:
--------
Annual Review of subject's finance facilities for their Financing Account is due
in November.
CURRENT INVESTIGATION
_______________________________________________________________________________
On 15 Jan 2002 Patrick Kent, Managing Director submitted the above statement and
confirmed all other information in this report
Sales: Year Ended 30 Jun 2000 Year Ended 30 Jun 2001 Year Ending 30 Jun 2
$2,963,449 $3,259,793 $5,000,000 (Prj)
Net Profit: Year Ended 30 Jun 2000 Year Ended 30 Jun 2001 Year Ending 30 Jun 2
$44,418 $88,859 >$90,000 (Prj)
Comments: Subject will continue to develop its product range but will not
diversify operations. Inter company relations with subsidiaries include
merchandise transactions.
WORK IN PROGRESS
_______________________________________________________________________________
Client/Project/Location Amount % Complete Est Completion
----------------------- ------ ---------- --------------
No Rating has been assigned due to court action(s) against director(s).
Directors Background
_______________________________________________________________________________
Name: PATRICK WILLIAM KENT
Principals Background
---------------------
Title: Managing Director
Activity Status: Active in day-to-day operations
Area of Responsibility: Operational affairs
Other Boards:
Kentmore Pty Ltd
Kentish Nominees Pty Ltd
Other members of the group
Employment History
------------------
Period: Jan 1970 - Jan 1975
Company Employed: Kent Shirts, a business commenced by his father
Last Position Held: Sales Manager
Industry Experience: Employed in the industry since 1975
Name: ADAM THOMAS MORE
Principals Background
---------------------
Title: Director & Company Secretary
Activity Status: Active in day-to-day operations
Other Boards:
Kentmore Pty Ltd
Moreland Nominees Pty Ltd
Other members of the group
Employment History
------------------
Period: Jan 1973 - Jan 1975
Company Employed: Marino Woollen Mills
Last Position Held: Accountant
Qualification(s):
Chartered Accountant
A check of internal records shows the following information against ADAM THOMAS
MORE:
Action: Judgement
Plaintiff: Golden Cloth Ltd
Amount: $4585
Date: 13 Mar 1999
File No: 699054/99
Action: Judgement
Plaintiff: Hill Machinery Ltd
Amount: $9650
Date: 23 Jan 2000
File No: 599076/2000
Action: Supreme Court Writ
Plaintiff: Global Finance Co Ltd
Amount: $91983
Date: 27 Mar 2000
File No: 616134/2000
Comments:
On 05 Jun 2001, Patrick Kent, Managing Director Stated the action dated 13
Mar 1999 has been partially settled.Stated the action dated 23 Jan 1998 has been
partially settled.Stated the action dated 27 Mar 1999 has been partially
settled.
HISTORY
_______________________________________________________________________________
Statements
----------
Subject was incorporated in Victoria on 02 Aug 1965
Formed to continue the business Kentmore Clothing, which commenced operations in
1960, with the current directors' fathers trading as partners
Current ownership commenced in 1990.
Name was changed from Kentmore Clothes Pty Ltd to current name on 02 Aug 1995.
Performance Record
_______________________________________________________________________________
Client/Project/Location Amount Year Completed
----------------------- ------ --------------
Release to market youth Ninja pyjama r$500,000 2000
Establish 2 new franchises $750,000 1999
Shares
Notes:
Information on this extract such as Share Structure, Shareholders, Principal
Place of Business and Ultimate Holding Company is obtained from the Company
Annual Return.
Care should be taken when using this information as it may have changed since
the most recent Annual Return was processed by the ASIC.
Care should also be taken when using the shareholders information, as only the
top ten shareholders are listed on the extract.
If no shareholder details are shown it may be that the company has only recently
been incorporated and has not yet lodged its first Annual Return.
OPERATIONS
_______________________________________________________________________________
Line of Business:
Manufacturer of men's and youth clothing.
Subject acts as a holding company with its subsidiaries
engaged in wholesale and retail of men's and youth
clothing.
Specialises in:
Trousers, shirts and pyjamas
Products:
Trousers, Shirts and Pyjamas
Distributor for:
Ninja Nightwear
Exports:
10% to New Zealand and Papua New Guinea on open account
and telegraphic transfer
Imports:
Raw materials from France and Italy on letter of credit
Customs Agents:
Air Sea Customs (NSW) Pty Ltd
Types of customers:
Retailers
Subsidiary Companies
Territory:
Australia-wide
Terms:
30 Days
7 Days
Cash
Major Clients:
Myer and David Jones
Major suppliers:
Mills Textiles - Ph: 0395254345
Perrson Trading
V X Yarn &
Scotts Australia - Ph: 0392413321
Receivable Accounts:
250 active accounts
Employs:
26 (320 Group)
Including the active directors
Employee History:
Year No of Reasons
Employees
2002 26 (320 Group) Increase in sales
2001 25 (320 Group)
Quality
Accreditation:
ISO 9002
Memberships:
Textile Manufacturers Association of Australia
Location:
Leases 20,000 sq feet of factory , warehouse and office
premises at heading address.
Premises owned by affiliate
Premises located in northern industrial and residential
suburb of Melbourne
CORPORATE STRUCTURE
_______________________________________________________________________________
Subsidiaries: KENTMORE CLOTHING WHOLESALE PTY LTD, VIC
KENTMORE TRENDS (VIC) PTY LTD, VIC
KENTMORE TRENDS (NSW) PTY LTD, NSW
KENTMORE WOMENSWEAR PTY LTD, VIC
Affiliates: KENTISH NOMINEES PTY LTD, WA
MORELAND NOMINEES PTY LTD, WA
KENTMORE FINANCE PTY LTD, NSW
KENTMORE PROPERTIES PTY LTD, VIC
KENTMORE PTY LTD, VIC
Trading Style: KENTMORE GOODFIT , VIC
Branches: 28 Smiths Ave
West Ryde
2114 74-026-0021
25 Perth Ave
Perth
6000 75-900-6828
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(1) Dun & Bradstreet Trade Program
Over 95 per cent of the trade references within this report are collected
through the Dun & Bradstreet trade program. Companies participating in this
program supply Dun & Bradstreet with their monthly debtors ledgers which are
converted into individual trade references and added to the reports on a daily
basis. Such references provide evidence of organisations payment habits and
due to their objectivity are generally more accurate than those obtained from
suppliers provided as references by the subject during the interview.
Key Date: The month in which the reference was recorded by
Dun & Bradstreet.
Letter Reference: Each letter indicates a separate supplier. A repeated
letter in a given month indicates that the subject has
more than one account with that supplier.
Terms: Reflect the number of days the supplier allows for payment
Terms of '0' days indicates that the account is paid on a
cash basis or on undisclosed special terms.
Usually Pays: Indicates the number of days normally taken by the subject
to make payment.
Maximum Outstanding: Reflects the highest amount of credit provided in a given
transaction in the past 12 months. The absence of a dollar
amount indicates that more specific information was not
made available.
Current Balance: The total amount owed to that supplier.
Beyond Terms: The proportion of the current balance that is overdue.
Note: In some instances, payment beyond terms can be the result
of disputes over merchandise, lost invoices, etc.
In certain industries such as the building and
construction industry, slow payments may often
be the norm. These circumstances should be given
due consideration when interpreting the subject's
payment habits.
(2) Dun & Bradstreet Receivable Management Services
Information contained within this report covers debt recovery action over
the past five years.
(3) Dun & Bradstreet Court File
Information contained within this report includes court actions, summonses and
judgements made over the past five years. The information contained within the
court file is updated daily with data gathered from the Magistrates, County,
Supreme and District Courts in each state. It should be noted that the
Attorney General of NSW has prohibited the publication of Judgement Debt
information obtained through the local courts until such time it is satisfied
with the Data Protection Laws in NSW. As a result, for NSW the only judgement
information published is that obtained through the customers of
Dun & Bradstreet's Receivable Management Services.
*** End of Report ***