A.J. ELECTRICS LIMITED

4531 Installation electrical wiring etc.

Funds Raised

£30,000.00

Final AER

16.29%

Loan term

60 MONTHS

Auction Closed

2016-11-20

Recovery News
This loan may be behind with its repayment schedule and so microloan trading has been suspended while we work to help the business recover its repayment form. Please see the Loan Updates tab for recent updates.

About the Business

Company Name: A.J. ELECTRICS LIMITED Company Number: 03352574
Business Type: 4531 Installation electrical wiring etc. Years Trading: More than 10 years
Business Location: STOKE-ON-TRENT

About the Risk

Risk rating

B

Default rate

7.10%

Bad debt rate

5.84%

About the Security

Security Offered:

Personal Guarantee - PG from Alison Davies

Est. Equity: 75000.00

Personal Guarantee - PG from Jeffery Davies

Est. Equity: 75000.00

Risk Indicators Identified:

Below Average Business Credit Rating
A 3rd party credit rating agency has indicated that this business is above average risk.
High Debt-to-Equity Ratio
This company has a higher than average level of company debt in relation to its equity
Marginal Growth
This company has shown low levels of growth over recent financial reporting periods
Low Quick Ratio Score
The quick ratio is an indicator of a company’s short-term liquidity. The quick ratio measures a company’s ability to meet its short-term obligations with its most liquid assets
Notable Dividends Taken
More than 50% of Net Profit has been taken as dividends within at least one of the assessed periods
Decreasing turnover
Recent financial reports indicate that this business has experienced declining turnover

Important Files

Who are we?

We are a medium sized NICEIC registered electrical contract company centrally based in Stoke on Trent, with several highly skilled installation and maintenance teams working on sites throughout the U.K.

At A J Electrics we only employ fully qualified electricians and service engineers and our ongoing training programme ensures that all our operatives are fully conversant with the latest regulations and standards. Our NECEIC registration ensures all work is carried out and appropriately certified to the highest standard, particularly important in the light of the changes to Building Regulations.

We have a small works department which specializes in everything from an extra socket outlet for a busy office to regular lighting maintenance. We also offer 24 hr emergency call out where we can normally get a service engineer to you within an hour, day or night.

At AJ Electrics our priority is customer satisfaction and with our competitive rates and no call out charge it ensures repeat business from all of our customers.

We are committed to providing solutions for our customers through reliable and cost effective service.

Read more

Loan Offers

What is the loan for?

We have recently won two contracts, one to fit out a new Gym in the Leeds area and another to refit 2 x Domino Pizza Franchises in Leicestershire. In order to assist us to be able to manage these contracts we require funding. We also would like to repay our two existing financial commitments in order to relieve cash flow.

Why consider investing?

We have grown over the last four years, and whilst there was a dip in turnover in 2016, are confident that we will exceed 2016 turnover in the current financial year. The reason for the dip in turnover in 2016 was two fold, firstly one of our large contractors folded which in turn left us without the work that was expected, and secondly an employee leaving and taking with him a couple of contracts. We have now won back the contracts that the employee took with us and been able to win new contracts on the back of the demise of the company that folded. Moving forward we are choosing to miss out the middle man and, whilst we would not turn away sub contracted work, dealing with the end user will prove more profitable and give us greater control over our business.

ReBS Disclosure

Lenders should be aware that there were loans to the directors to the value of £53,000 as at 30/09/2016.

Security

This loan is to be secured by way of Personal Guarantees provided by each director.

The Personal Guarantees will be provided by Alison and Jeffery Davies, the husband and wife directors and shareholders of the applicant company.

They have a combined estimated net worth of £152,000. This is derived primarily from their ownership of their marital home, which has an estimated value of £225,000 and £182,000 estimated equity.

DateAmountCapitalInterestReceived
20/12/2016£734.13£326.95£407.18
20/01/2017£734.13£331.38£402.75
17/02/2017£734.13£335.88£398.25
20/03/2017£734.13£340.44£393.69
19/04/2017£734.13£345.06£389.07
20/05/2017£734.13£349.74£384.38
19/06/2017£734.13£354.49£379.64
20/07/2017£734.13£359.30£374.83
20/08/2017£734.13£364.18£369.95
19/09/2017£734.13£369.12£365.01
20/10/2017£734.13£374.13£360.00
20/11/2017£734.13£379.21£354.92
20/12/2017£734.13£384.36£349.77
20/01/2018£734.13£389.57£344.56
20/02/2018£734.13£394.86£339.27
20/03/2018£734.13£400.22£333.91
20/04/2018£734.13£405.65£328.48
20/05/2018£734.13£411.16£322.97
20/06/2018£734.13£416.74£317.39
20/07/2018£734.13£422.40£311.73
20/08/2018£734.13£428.13£306.00
20/09/2018£734.13£433.94£300.19
20/10/2018£294.30£0.00£294.30Interest only
20/11/2018£294.30£0.00£294.30Interest only
20/12/2018£294.30£0.00£294.30Interest only
20/01/2019£13,500.00£13,500.00£0.00 (60 days late)
20/02/2019£14,396.96£8,183.09£6,213.87180 days overdue
20/03/2019£0.00£0.00£0.00
20/04/2019£0.00£0.00£0.00
20/05/2019£0.00£0.00£0.00
20/06/2019£0.00£0.00£0.00
20/07/2019£0.00£0.00£0.00
20/08/2019£0.00£0.00£0.00
20/09/2019£0.00£0.00£0.00
20/10/2019£0.00£0.00£0.00
20/11/2019£0.00£0.00£0.00
20/12/2019£0.00£0.00£0.00
20/01/2020£0.00£0.00£0.00
20/02/2020£0.00£0.00£0.00
20/03/2020£0.00£0.00£0.00
20/04/2020£0.00£0.00£0.00
20/05/2020£0.00£0.00£0.00
20/06/2020£0.00£0.00£0.00
20/07/2020£0.00£0.00£0.00
20/08/2020£0.00£0.00£0.00
20/09/2020£0.00£0.00£0.00
20/10/2020£0.00£0.00£0.00
20/11/2020£0.00£0.00£0.00
20/12/2020£0.00£0.00£0.00
20/01/2021£0.00£0.00£0.00
20/02/2021£0.00£0.00£0.00
20/03/2021£0.00£0.00£0.00
20/04/2021£0.00£0.00£0.00
20/05/2021£0.00£0.00£0.00
20/06/2021£0.00£0.00£0.00
20/07/2021£0.00£0.00£0.00
20/08/2021£0.00£0.00£0.00
20/09/2021£0.00£0.00£0.00
20/10/2021£0.00£0.00£0.00
20/11/2021£0.00£0.00£0.00
20/12/2021£0.00£0.00£0.00
20/01/2022£0.00£0.00£0.00
20/02/2022£0.00£0.00£0.00
Total:£30,000.00£14,930.71