ARCARE WANDERERS LIMITED

Other

Funds Requested

£25,000.00

Offered so far

£0.00

Loan term

60 MONTHS

Auction Closed

2014-05-11

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This loan is now passed its deadline, lender funds will soon be released.

About the Business

Company Name: ARCARE WANDERERS LIMITED Company Number: 07145607
Business Type: Other Years Trading: 4-5 years
Business Location: WOLVERHAMPTON

About the Risk

Risk rating

A

Default rate

7.00%

Bad debt rate

9.69%

About the Security

Security Offered:

Cross Corporate Guarantee - CCG from Arcare Wanderers West Midlands Limited

Est. Equity: 0.00

Personal Guarantee - PG

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

Arcare Wanderers Limited is the limited company behind Wanderers House Care home in Wolverhampton. The Care home specialises in looking after patients with Learning disabilities, Mental health conditions & Physical disabilities, and is classed as a care home without nursing. Wanderers House now has 7 beds available, all of which are currently occupied. Wanderers House are part of the Arcare group of care homes, which is an established group of homes which has been in operation around the Midlands for over 13 years.

Read more

Loan Offers

What is the loan for?

Wanderers House has recently had a loft conversion finished, which has transformed the care home from a 5 bed home to a 7 bed home. Now this work has been completed and finalised Arcare are looking for a loan to cover the cost of this extension, which encompasses everything from the structural work, right through to the furniture!

Why consider investing?

Dr R K Sharma & his wife Mrs S B Sharma are 50:50 owners of the Arcare group & Arcare Wanderers Ltd. Dr R K Sharma set up some of the 1st homes for learning disabilities and is highly respected in medical circles. Over recent years, the business has invested and extended the care homes they own in order make the business more profitable (12 Months to Feb 14, Turnover £274K, with a Net Profit of £114K). With these improvements. Debt Coverage can be easily serviced with the current performance & with full occupancy & no further plans for the next few years, turnover and costs will continue at this improved level for the life of the loan. This property has been used as security on other company borrowings.

Notes On Accounts

The Fixed Assets figure in the Year end Accounts include £66,960 in Directors and Inter-company loans as detailed below:

  • Money owed by Dr Sharma (director) to Wanderers - £200.00
  • Money owed by Mrs Sharma (director) to Wanderers - £12711.00
  • Money owed by Intercompany to Wanderers - £52347.50
  • Money owed by RKS For Forte Ltd to Wanderers - £1,701.52

Security

The loan is to be secured against a Cross corporate Guarantee by the holding company Arcare Wanderers West Midlands Limited and 2 Directors Guarantees. Whom have a combined estimate net worth of £749k. This is based primarily on equity in two personal properties, one with an estimate value of £800k and another with an est. value of £130k

Please note that property on which Arcare Wanderers is based has been used to secure borrowings for the benefit of a related company.

DateAmountCapitalInterestReceived
28/05/2014£578.86£291.78£287.08
28/06/2014£578.86£295.13£283.73
28/07/2014£578.86£298.52£280.34
28/08/2014£578.86£301.94£276.92
28/09/2014£578.86£305.41£273.45
28/10/2014£578.86£308.92£269.94
28/11/2014£578.86£312.46£266.40
28/12/2014£578.86£316.05£262.81
28/01/2015£578.86£319.68£259.18
28/02/2015£578.86£323.35£255.51
28/03/2015£578.86£327.07£251.79
28/04/2015£578.86£330.82£248.04
28/05/2015£578.86£334.62£244.24
28/06/2015£578.86£338.46£240.40
28/07/2015£578.86£342.35£236.51
28/08/2015£578.86£346.28£232.58
28/09/2015£578.86£350.26£228.60
28/10/2015£578.86£354.28£224.58
28/11/2015£578.86£358.35£220.51
28/12/2015£578.86£362.46£216.40
28/01/2016£578.86£366.63£212.23
28/02/2016£578.86£370.84£208.02
28/03/2016£578.86£375.09£203.77
28/04/2016£578.86£379.40£199.46
28/05/2016£578.86£383.76£195.10
28/06/2016£578.86£388.17£190.69
28/07/2016£578.86£392.62£186.24
28/08/2016£578.86£397.13£181.73
28/09/2016£578.86£401.69£177.17
28/10/2016£578.86£406.30£172.56
28/11/2016£578.86£410.97£167.89
28/12/2016£578.86£415.69£163.17
28/01/2017£578.86£420.46£158.40
28/02/2017£578.86£425.29£153.57
28/03/2017£578.86£430.18£148.68
28/04/2017£578.86£435.12£143.74
28/05/2017£578.86£440.11£138.75
28/06/2017£578.86£445.17£133.69
28/07/2017£578.86£450.28£128.58
28/08/2017£578.86£455.45£123.41
28/09/2017£578.86£460.68£118.18
28/10/2017£578.86£465.97£112.89
28/11/2017£578.86£471.32£107.54
28/12/2017£578.86£476.73£102.13
28/01/2018£578.86£482.21£96.65
28/02/2018£578.86£487.74£91.12
28/03/2018£578.86£493.34£85.52
28/04/2018£578.86£499.01£79.85
28/05/2018£578.86£504.74£74.12
28/06/2018£578.86£510.54£68.32
28/07/2018£578.86£516.40£62.46
28/08/2018£578.86£522.33£56.53
28/09/2018£578.86£528.33£50.53
28/10/2018£578.86£534.39£44.47
28/11/2018£578.86£540.53£38.33
28/12/2018£578.86£546.74£32.12
28/01/2019£578.86£553.02£25.84
28/02/2019£578.86£559.37£19.49
28/03/2019£578.86£565.79£13.07
28/04/2019£578.86£572.29£6.57
Total:£25,000.01£9,731.59