AK TRENCHLESS LIMITED

Other

Funds Requested

£40,000.00

Offered so far

£0.00

Loan term

36 MONTHS

Auction Closed

2013-03-21

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About the Business

Company Name: AK TRENCHLESS LIMITED Company Number: 03882250
Business Type: Other Years Trading: more than 10 years
Business Location: DRONFIELD

About the Risk

Risk rating

B

Default rate

7.10%

Bad debt rate

5.84%

About the Security

Security Offered:

Fixed Charge Debenture - Fixed charge over the asset(s) of applicant company

Est. Equity: 0.00

Personal Guarantee - PG from Roger Hill

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

AK Trenchless is a nationwide service provider with substantial experience within the field of directional drilling, auger boring and pipe bursting. These trenchless “no dig” technologies allow precise, efficient and an environmentally sound alternative solution for the installation of utility cables and pipelines. A specialty of AK Trenchless that has seen them called upon for their trenchless no-dig technology expertise from all around the United Kingdom. For more information go to www.aktrenchless.co.uk. The company has recently commenced a large contract for an International Airport due for completion second week in January. In addition to a number of smaller contracts, the company will also start the 4th phase of a major contract in London.

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Loan Offers

What is the loan for?

The company has traded since 1999 and has a reputation for drilling expertise in the UK. The company made the final payment of a £50k loan in December 2012 where payments have been in excess of £1600, which demonstrates the companies ability to service loans of this size. The company has a healthy order book to carry it through the early part of 2013 and it is anticipated that the company will generate good levels of profit on this work. Until recently the company had facilities to this level and has always remained within facility limits. This loan facility will enable the company to meet the cash flow demands of larger contracts. AK works with large companies and once contracts are completed payments are received shortly thereafter.

Why consider investing?

Due to the heavy upcoming workload, the company requires temporary additional facilities to supplement cashflow. This cash will be used to enable the company to service the above contracts for labour, materials, accommodation, fuel etc. The work is neither suited to traditional overdraft lending or invoice finance and this facility will give the company adequate headroom to fund the order book into 2013. This will result in a strong finish to the financial year. The company has now completed the first of the major works which started in early December 2012 but will not receive payment for this until late March. Work is due to start within the next two weeks on two major Highways Agency motorway upgrading projects on the M25 which will see most of the workforce fully employed there for approximately 3 months and 6 months. A further major project under a canal is also due to start at the end February/early March. In addition to these projects, the workforce has been working constantly since January 2013 on a number of smaller projects with further ones expected to commence during March. March 2013 update: Latest available management accounts for the periods to November and December 2012 showed net profits of £9k and £42k respectively each month which was a significant improvement on the first half of the financial year commencing June 2012. Management accounts will shortly be available for January and February and positive results are forecast.

DateAmountCapitalInterestReceived
02/05/2013£1,473.53£828.20£645.33
02/06/2013£1,473.53£841.56£631.97
02/07/2013£1,473.53£855.14£618.39
02/08/2013£1,473.53£868.93£604.60
02/09/2013£1,473.53£882.95£590.58
02/10/2013£1,473.53£897.20£576.33
02/11/2013£1,473.53£911.67£561.86
02/12/2013£1,473.53£926.38£547.15
02/01/2014£1,473.53£941.33£532.21
02/02/2014£1,473.53£956.51£517.02
02/03/2014£1,473.53£971.94£501.59
02/04/2014£987.75£987.62£0.00
02/05/2014£1,003.67£1,003.56£0.00
02/06/2014£1,019.85£1,019.75£0.00
02/07/2014£1,036.28£1,036.20£0.00
02/08/2014£1,052.99£1,052.92£0.00
02/09/2014£1,069.96£1,069.91£0.00
02/10/2014£1,087.20£1,087.17£0.00
02/11/2014£1,104.72£1,104.71£0.00
02/12/2014£1,122.53£1,122.53£0.00
02/01/2015£1,140.62£1,140.64£0.00
02/02/2015£1,159.00£1,159.04£0.00
02/03/2015£1,177.68£1,177.74£0.00
02/04/2015£1,196.66£1,196.74£0.00
02/05/2015£1,215.95£1,216.05£0.00
02/06/2015£1,235.55£1,235.67£0.00
02/07/2015£1,255.46£1,255.60£0.00
02/08/2015£1,275.69£1,275.86£0.00
02/09/2015£1,296.25£1,296.44£0.00
02/10/2015£1,317.14£1,317.36£0.00
02/11/2015£1,338.37£1,338.61£0.00
02/12/2015£1,359.94£1,360.21£0.00
02/01/2016£1,381.86£1,382.15£0.00
02/02/2016£1,404.13£1,404.45£0.00
02/03/2016£1,426.76£1,427.11£0.00
02/04/2016£1,449.76£1,450.14£0.00
Total:£40,000.00£6,327.04