Funds Raised


Final AER


Loan term


Auction Closed


Micro Loan Opportunities
Buy Capital Seller's
Price Buyer's
£24.22 +10.00% £26.64 9.48%
£14.53 +14.70% £16.67 5.00%
£9.69 +14.70% £11.11 5.00%
£24.22 +15.00% £27.85 4.72%
£19.37 +15.00% £22.28 4.72%

About the Business

Company Name: ANDREWS FASTENERS LIMITED Company Number: 09350180
Business Type: Manufacturing Years Trading: 1-2 years
Business Location: Latchmore Road

About the Risk

Risk rating


Default rate


Bad debt rate


About the Security

Security Offered:

Personal Guarantee - PG from Michael Carey

Est. Equity: 0.00

2nd Charge on Residential Property - Second priority legal charge over personally-owned residential property

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

Andrews Fasteners has previously borrowed and fully repaid a loan through, Visit the previous listing here

Visit Our Website

Andrews Fasteners Limited have been managed by various parties and directors continuing its services from 1906. Over 100-years old trading experience made Andrews Fasteners one of the best known brands in construction industry. Our main point – Quality – made us an essential player on the market.

Andrews Fasteners Limited is currently managed by Director, Michael Carey.

Our reputation for quality assured products and service is the foundation on which the company stands. In an ever more demanding world, Quality and Full Traceability are an absolute necessity for any responsible company. We have an uncompromising responsibility and commitment in all aspects of Quality Assurance for all our clients, which is why we were one of the first stockists of BS EN 14399 and BS EN 15048 CE Approved fasteners.

Our quality systems are independently assessed and accredited to BS EN ISO 9001:2008.

Our market leading innovations are standard practise within the fastener industry. These simple, new ideas help to reduce wastage and delays on site, saving our clients time and money.

Our warehouse facilities have been enlarged to maintain our level of service to our steadily expanding customer base. This continuing growth and success has been due in a large part to the skills and experience of our staff with their well known “Can Do” approach to business.

We continue our policy of investing in people. The future of the company depends upon their abilities and co-operation.

Andrews Fasteners maintain probably the largest stock of fasteners in the UK with full 2.2, 3.1 and 3.2* Test Certificates.

As an expanding company, we now have our solely owned factory in Malaysia where we are capable of manufacturing and stocking large quantities of assembled products for global supply.

Our key-points:

  • We are ISO 9001 and National Highway Sector Scheme 3 (NHSS3) approved

  • We hold CE approval certificates for EN 14399 and EN 15048 bolting assemblies including DTIs

  • Our solely owned factory in Malaysia enabling us to manufacture and stock a large number of assembled products for global supply

  • AndFast Malaysia holds also CE approval certificates for EN 14399 and EN 15048 bolting assemblies and is approved to ISO 9001 and NHSS3.

  • We are able to supply containers direct from our own factory

  • Supplied Certificates of Conformity and Test Certificates with products are Free of Charge

  • Our products are fully traceable from our manufacturers

  • We are offering technical expertise

  • Our offer include fasteners in Galvanized, Sherardized and Bright Zinc Plated (CR3), Corrosion Resistant finishes

  • ‘Partnering’ experience with many leading companies.


The business previously traded through a different company, called Andrews Fasteners Limited, registered under company number 01531702 (“Old Co”). Old Co had been trading successfully for around 100 years up to 2014.

Legal Action

In 2014 Old Co was issued with a notice of a potential large claim against it..

The claim was made by a customer and related to 3 specialist studs supplied by Old Co in 2012/13 having broken (for some context, this was out of 3,000 studs supplied). The studs had been designed to a bespoke and new specification.

Although Old Co had legal advice that it had a strong defence, the potential legal costs involved put considerable strain on the business, and as such the directors of Old Co were advised to put the business in administration to prevent further financial strain.

Administration and sale to new company

Old Co was placed in the hands of administrator Chris Brooksbank of Cleckheaton-based insolvency practitioners O'Haras on 16 January 2015. A sale of the business and assets of Old Co was (immediately following administration) completed to a new company, AFC Products Limited (09350180), which subsequently changed its name to Andrews Fasteners Ltd (“New Co”) to continue the legacy of the business under the control of Michael Carey, a former director of the original company.

As well as retaining jobs, the sale of the business to New Co secured future orders and supplier contracts.

Please see this article for more information

New Co has continued in business using the same company name . Its business is doing well and all customers (expect for the customer involved in the claim leading to the administration) of Old Co are now customers of New Co. We have more active accounts and new accounts than we had with OldCo.

Read more

Loan Offers

What is the loan for?

At the moment (as of 21 March) there is £160,000 outstanding to the administrator for the payment of the company. The payment schedule is £16,000 a month.

The loan will be used to pay the administrator in full for the company.

Why consider investing?

At the moment we are paying £16,000 a month to the administrator, this is affecting cash flow.

Using the loan we will pay the administrator in full reducing the monthly outgoings to (depending on the loan rate) £4,000 a month instead of £16,000. We showed with the previous Rebuild loan that we managed our cash flow to successfully pay the installments of £9,100 each month; hopefully this demonstrates that we are a company that you can trust.

Although our order book is lower than last year it is still very strong at £600,000. Customers have told us that they will be very busy from May onward.

The 2015 figures show that we have more active accounts and generated more new accounts than we did in 2014 (OldCo), which shows that there is still confidence in the company.

REBS Disclosure

Please note that the year end 2015 accounts are for the New Co (09350180) and the Year end 2014 and 2013 Accounts are those of the Old Co (01531702).

Three sets of accounts have been provided to lenders to demonstrate the trading history of the companies

Loan Security

The loan is to be secured by way of a personal guarantee form the director, and all assets debenture and a 2nd charge on the directors personal property. The loan will further be supported by Personal Guarantee Insurance

The Director's Est Net Worth is approximately £75k. This is through ownership of a Personal Dwelling with an est Value of £130k and est. equity of £55,481.

28/08/2019£3,554.93£2,484.12£1,070.81Not Due
28/09/2019£3,554.93£2,524.92£1,030.01Not Due
28/10/2019£3,554.93£2,566.40£988.53Not Due
28/11/2019£3,554.93£2,608.55£946.38Not Due
28/12/2019£3,554.93£2,651.39£903.54Not Due
28/01/2020£3,554.93£2,694.94£859.99Not Due
28/02/2020£3,554.93£2,739.21£815.72Not Due
28/03/2020£3,554.93£2,784.20£770.73Not Due
28/04/2020£3,554.93£2,829.93£725.00Not Due
28/05/2020£3,554.93£2,876.41£678.52Not Due
28/06/2020£3,554.93£2,923.66£631.27Not Due
28/07/2020£3,554.93£2,971.68£583.25Not Due
28/08/2020£3,554.93£3,020.49£534.44Not Due
28/09/2020£3,554.93£3,070.10£484.83Not Due
28/10/2020£3,554.93£3,120.53£434.40Not Due
28/11/2020£3,554.93£3,171.78£383.15Not Due
28/12/2020£3,554.93£3,223.88£331.05Not Due
28/01/2021£3,554.93£3,276.83£278.10Not Due
28/02/2021£3,554.93£3,330.65£224.28Not Due
28/03/2021£3,554.93£3,385.36£169.57Not Due
28/04/2021£3,554.93£3,440.96£113.97Not Due
28/05/2021£3,554.93£3,497.48£57.45Not Due