PUPPY KIT LIMITED

Other

Funds Raised

£25,000.00

Final AER

17.36%

Loan term

60 MONTHS

Auction Closed

2014-08-04

Trading on Hold
Microloan trading is currently on hold for this loan.

About the Business

Company Name: PUPPY KIT LIMITED Company Number: 05606180
Business Type: Other Years Trading: 6-10 years
Business Location: ESSEX

About the Risk

Risk rating

C

Default rate

13.30%

Bad debt rate

5.47%

About the Security

Security Offered:

Personal Guarantee - PG from Adam Forman

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

ReBS Disclosure

Lenders should be aware that the director has sold the business and is servicing the debt personally. Lenders have voted to accept a temporary repayment proposal of £200 for October, November and December; at which point the monthly payments will be reviewed.

Puppy Kit is a successful and prestigious pet accessories boutique and grooming salon located in Buckhurst Hill, Essex, in the middle of the area's affluent and fashionable 'golden triangle' district. The business has been trading for 8 years and has established itself as one of the leading companies in this niche market sector.

The boutique occupies a prime position on the area's main shopping street and attracts a wealthy and fashion-conscious clientele, including footballers and celebrities, from a wide-ranging area.

The pet grooming salon operates from the same premises and has established itself as the number one salon in the area, benefitting from repeat grooming business from a loyal customer base.

The business has featured regularly on TV and in magazines and online media.

Net profit has grown strongly over the last five years and is projected to continue to grow going forward.

Puppy Kit also enjoys a major online presence, selling globally, through three separate sales channels: own website; Amazon; eBay

As well as retail sales, Puppy Kit operates a wholesale operation selling up-market international pet accessories to UK pet store chains and independents. In the last 12 months, the company has won large, repeat wholesale orders from Pets At Home and TK Maxx.

In July 2013, the original company, Puppy Kit Limited, was split in to two separate entities - Puppy Kit Limited and Dogue (UK) Limited - for tax reasons. Both companies are, however, owned by the same family, trade from the same premises, share a bank account and from an investor perspective should be treated as one organization.

The 2013-14 financials shown on the listing are for Puppy Kit Limited as this is the company that will head the loan. For comparison purposes, please combine both companies’ figures. Both sets of accounts are available to view on the listing.

Read more

Loan Offers

What is the loan for?

The loan is to finance refurbishment work to the Buckhurst Hill boutique and salon, new stock, new grooming equipment and a marketing campaign for online and wholesale sales.

Why consider investing?

Puppy Kit is an established and successful business that has carved out a profitable position in its target market and has enjoyed year-on-year net profit growth. The business is well positioned to expand and in particular, has identified online retail sales and wholesale sales as key areas of growth.

The company benefits from a daily cash-flow stream that will adequately cover repayments. In addition, the loan will be backed by the director's personal guarantee.

Disclosure: There is a cross corporate guarantee over Dogue UK Ltd (accounts attached) which is a similar business run from the same premises by the director.

DateAmountCapitalInterestReceived
05/09/2014£626.16£264.50£361.66
05/10/2014£626.16£268.32£357.84
05/11/2014£626.16£272.21£353.95
05/12/2014£626.16£276.14£350.02
05/01/2015£626.16£280.14£346.02
05/02/2015£626.16£284.19£341.97
05/03/2015£626.16£288.30£337.86
05/04/2015£626.16£292.47£333.69
05/05/2015£626.16£296.70£329.46
05/06/2015£626.16£301.00£325.16
05/07/2015£626.16£305.35£320.81
05/08/2015£626.16£309.77£316.39
05/09/2015£626.16£314.25£311.91
05/10/2015£626.16£318.80£307.36
05/11/2015£626.16£323.41£302.75
05/12/2015£626.16£328.09£298.07
05/01/2016£626.16£332.83£293.33
05/02/2016£626.16£337.65£288.51
05/03/2016£626.16£342.53£283.63
05/04/2016£626.16£347.49£278.67
05/05/2016£626.16£352.51£273.65
05/06/2016£268.55£0.00£268.55Interest only
05/07/2016£626.16£357.61£268.55
05/08/2016£626.16£362.79£263.37
05/09/2016£626.16£16,053.23£0.00
05/10/2016£626.16£0.00£0.00
05/11/2016£626.16£0.00£0.00
05/12/2016£626.16£0.00£0.00
05/01/2017£626.16£0.00£0.00
05/02/2017£626.16£0.00£0.00
05/03/2017£626.16£0.00£0.00
05/04/2017£626.16£0.00£0.00
05/05/2017£626.16£0.00£0.00
05/06/2017£626.16£0.00£0.00
05/07/2017£626.16£0.00£0.00
05/08/2017£626.16£0.00£0.00
05/09/2017£626.16£0.00£0.00
05/10/2017£626.16£0.00£0.00
05/11/2017£626.16£0.00£0.00
05/12/2017£626.16£0.00£0.00
05/01/2018£626.16£0.00£0.00
05/02/2018£626.16£0.00£0.00
05/03/2018£626.16£0.00£0.00
05/04/2018£626.16£0.00£0.00
05/05/2018£626.16£0.00£0.00
05/06/2018£626.16£0.00£0.00
05/07/2018£626.16£0.00£0.00
05/08/2018£626.16£0.00£0.00
05/09/2018£626.16£0.00£0.00
05/10/2018£626.16£0.00£0.00
05/11/2018£626.16£0.00£0.00
05/12/2018£626.16£0.00£0.00
05/01/2019£626.16£0.00£0.00
05/02/2019£626.16£0.00£0.00
05/03/2019£626.16£0.00£0.00
05/04/2019£626.16£0.00£0.00
05/05/2019£626.16£0.00£0.00
05/06/2019£626.16£0.00£0.00
05/07/2019£626.16£0.00£0.00
05/08/2019£626.16£0.00£0.00
05/09/2019£626.16£0.00£0.00
Total:£23,210.28£7,513.18