AFTERTHOUGHT GROUP LTD

INFORMATION AND COMMUNICATION

Funds Raised

£36,660.00

Final AER

15.94%

Loan term

36 MONTHS

Auction Closed

2019-03-27

Micro Loan Opportunities
Buy Capital Seller's
Premium
Price Buyer's
Rate
BuyBack
£86.46 +8.50% £93.81 9.28%
£17.29 +9.50% £18.93 8.54%
£8.65 +9.50% £9.47 8.54%
£8.65 +10.00% £9.51 8.17%
£17.29 +11.50% £19.28 7.08%

About the Business

Company Name: AFTERTHOUGHT GROUP LTD Company Number: 10217911
Business Type: INFORMATION AND COMMUNICATION Years Trading: 2-3 years
Business Location: Henfield

About the Risk

Risk rating

B

Default rate

6.80%

Bad debt rate

5.58%

About the Security

Security Offered:

Personal Guarantee - PG from Douglas Walford

Est. Equity: 900000.00

Debenture - All Assets Debenture over applicant company

Est. Equity: 27810.60

Risk Indicators Identified:

May not produce Management Accounts
This company may not prepare management accounts on a regular basis
High Debt-to-Equity Ratio
This company has a higher than average level of company debt in relation to its equity
Low Operating Margin
This business may not be efficiently converting revenue into profit

Important Files

Who are we?

This loan has benefited from a 1% reduction in the starting interest rate, due to the security offered in support of the loan. Find out more Here.

Welcome to Afterthought Group Ltd!

Afterthought Group Ltd is primarily an IT consulting firm founded by Doug Walford in mid 2016 that services large global companies IT security and architecture needs. Doug spent 18 years working in New York, North Carolina and Hong Kong designing, building and managing IT services for many firms.

Afterthought has also diversified into other businesses like coffee shops/cafe’s and now owns and operates a Gin distillery.

We are a small energetic group of companies that consist of 3 coffee shops/cafes, an IT consulting firm and a Gin Distillery all based in West Sussex area employing about 35 people!

We have been serving the local community (Brighton / Horsham / Henfield) amazing coffee, food and alcohol with some of our locations dating back 10 years or more.

https://www.fullofbeanscoffee.shop/

https://www.morrisandjacques.co.uk/

We will be expanding our shop offerings by adding our own Gin to our locations as well as exporting our Gin overseas.

Our distillery is operational and we have started to sell our sample packs online

https://afterthoughtspirits.co.uk/

Read more

Loan Offers

What is the loan for?

The purpose of this loan is to fund the following:

Addition of new staff for bookkeeping (we are understaffed) and associated equipment (computers/furniture/filing cabinets)

- Funds to address gap in IT consulting revenues, new contract starting April 2019.

- Legal fees and costs associated with new Henfield location lease / planning

- Funds to finish our branding/marketing campaign ready for April release of our new Gin bottle designs.

- Funds to purchase more bottles for the distillery (16 week lead time) and more stoppers (12 week lead time), both require 50% deposits.

We welcome investors to order our Gin products and provide us with feedback to help us improve our business! Check the 'demand chain' tab to find out more.

Why consider investing?

We have put a lot of time, money and effort into our businesses and are employing approx 35 staff across all locations (most part time). We have great reviews on Trip Advisor for our food businesses, have had excellent feedback on our Gin’s and have started forming relationships with firms in Brazil, Singapore, Australia and USA to import our products.

The future is bright for all of the group companies, and we'd love to invite you along with us for the journey...

Afterthought Group Ltd

Afterthought Group Ltd has just signed a deal with to provide IT consulting services to its largest client across EMEA, this deal is worth about £320k per annum of perpetual revenue to the business and starts end of March 2019.

Afterthought Spirits Company Ltd – 100% owned by Afterthought Group Ltd

We have built a gin distillery in Henfield, West Sussex and are selling gin online. We are limited with what we can do to expand the production and sales as large capital is needed to continuously order botanicals, alcohol, bottles, storage containers etc.. We expect this business to generate significant revenue (£1.2m for 2019, net £600k) and profits once we have the final items in place that are needed. You can order samples from the website. https://afterthoughtspirits.co.uk/

Long Island Coffee Company Ltd – 50% owned by Afterthought Group Ltd

We own a small chain of coffee shops/cafe’s in sussex that were purchased and mostly rebranded (two are branded “Full of Beans” – we own the trademark, one is called “Morris & Jacques”) They are currently on track to gross £420k over the next 12 months with a potential net of £90k which is in keeping with the books we obtained from each existing location when we purchased them.

We are in the process of purchasing another company in the pizza business in the Sussex area. We will be using this business to supply ingredients/dough and expertise to our other coffee shop/cafe locations.

We are planning to move the smaller Henfield coffee shop location (600sqft) to a old Lloyds bank building just up the road (1600sqft plus garden) and work on a combined project with the Afterthought Spirit Company to use the new location for its retail sales and Gin training school (make your own gin). We would repurpose the old bank vault as a focal point and call it the Gin vault. As part of the build out we would be adding a pizza oven, with plans to have dough/ingredients/expertise supplied by pizza business mentioned earlier, there is no pizza restaurant in this village. We conservatively expect this location to gross £300k a year excluding gin/class sales

In our Brighton location we plan to fit out the existing cellar as a 1920’s speakeasy with a focus on our gin product, this would be a good location to showcase our Gin and host events. We expect that this additional space and theme could add £75 to £100k gross to the location, we have already invested heavily in the rear garden so that it can be used all year round (covered/infra red heaters)

All in all, we are expecting revenues of £1.8 to £2m by the end of 2019.

Security

This loan will be secured by a Personal Guarantee and an All Assets Debenture.

A PG will be provided by the director, Mr Douglas Walford. Mr Walford owns two properties which have a combined est. value of £1.13m and a combined est equity of £1.13m. Mr Walford also owns two properties in the United States, but for the purposes of our security valuation these have not been included in our assessment. This leaves an estimated net worth of £900,000 based on the UK properties.

A debenture will be taken over the company. This will be a first priority all assets debenture all will create a fixed and floating charge that covers all assets of the company. This will include fixed assets of £10,407 and a debtor book of £128,646, based on the 2018 filed accounts.

DateAmountCapitalInterestReceived
12/04/2019£1,287.85£800.75£487.10
12/05/2019£1,287.85£811.39£476.46
12/06/2019£1,287.85£822.17£465.68
12/07/2019£1,287.85£833.09£454.76
12/08/2019£1,287.85£844.16£443.69 (15 days late)
12/09/2019£1,287.85£855.38£432.47
12/10/2019£1,287.85£866.75£421.10Not Due
12/11/2019£1,287.85£878.26£409.59Not Due
12/12/2019£1,287.85£889.93£397.92Not Due
12/01/2020£1,287.85£901.76£386.09Not Due
12/02/2020£1,287.85£913.74£374.11Not Due
12/03/2020£1,287.85£925.88£361.97Not Due
12/04/2020£1,287.85£938.18£349.67Not Due
12/05/2020£1,287.85£950.65£337.20Not Due
12/06/2020£1,287.85£963.28£324.57Not Due
12/07/2020£1,287.85£976.08£311.77Not Due
12/08/2020£1,287.85£989.05£298.80Not Due
12/09/2020£1,287.85£1,002.19£285.66Not Due
12/10/2020£1,287.85£1,015.50£272.35Not Due
12/11/2020£1,287.85£1,029.00£258.85Not Due
12/12/2020£1,287.85£1,042.67£245.18Not Due
12/01/2021£1,287.85£1,056.52£231.33Not Due
12/02/2021£1,287.85£1,070.56£217.29Not Due
12/03/2021£1,287.85£1,084.78£203.07Not Due
12/04/2021£1,287.85£1,099.20£188.65Not Due
12/05/2021£1,287.85£1,113.80£174.05Not Due
12/06/2021£1,287.85£1,128.60£159.25Not Due
12/07/2021£1,287.85£1,143.60£144.25Not Due
12/08/2021£1,287.85£1,158.79£129.06Not Due
12/09/2021£1,287.85£1,174.19£113.66Not Due
12/10/2021£1,287.85£1,189.79£98.06Not Due
12/11/2021£1,287.85£1,205.60£82.25Not Due
12/12/2021£1,287.85£1,221.62£66.23Not Due
12/01/2022£1,287.85£1,237.85£50.00Not Due
12/02/2022£1,287.85£1,254.30£33.55Not Due
12/03/2022£1,287.85£1,270.96£16.89Not Due
Total:£36,659.99£9,702.61