GOATCHER CHANDLER LIMITED

Accountancy

Funds Raised

£110,000.00

Final AER

11.79%

Loan term

60 MONTHS

Auction Closed

2013-08-19

Micro Loan Opportunities
Buy Capital Seller's
Premium
Price Buyer's
Rate
BuyBack

About the Business

Company Name: GOATCHER CHANDLER LIMITED Company Number: 08045472
Business Type: Accountancy Years Trading: more than 10 years
Business Location: ESSEX

About the Risk

Risk rating

B

Default rate

6.80%

Bad debt rate

5.58%

About the Security

Security Offered:

Personal Guarantee - PG from Michael Andrew Harris

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

LENDERS: THE DIRECTOR HAS INDICATED HE WILL ONLY ACCEPT A LOAN AT LESS THAN 12% The director acquired the trade and assets of a Chartered Accountants registered under the name of Applewhyte Ltd back in August 2012. The accounts for the year ended March 2012 are the filed accounts of Applewhyte Ltd. The accounts made up to 31st August 2012 are the management accounts of Applewhyte up to the point of sale. The director purchased the trade and assets of Applewhyte Ltd using a largely dormant company which was renamed Goatcher Chandler Ltd. The accounts made up to 31st May 2013 are the management accounts of the business under its new company name of Goatcher Chandler Ltd.

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Loan Offers

What is the loan for?

To finance the Goodwill purchased from the retiring Partners and so pay down the loans owed to them.

Why consider investing?

The practice has a good client base with many established businesses. Turnover has remained steady over the last few years, during a period of recession. The Director has another practice which provides him with an income. This means that all profits are available to repay debt. The current bank lender will receive £57,000 from secured assets maturing this month. This will improve cash flow to repay the new loan. There were one off costs amounting to £34,000 in the 9 months to May 2013 relating to the acquisition of the practice. After adjusting for these and previous owners remuneration, the profits in the 9 months to May 2013 would have been £109,000. The director is unwilling to borrow at rates in excess of 12% therefore lenders are advised to only make bids of this rate and below.

DateAmountCapitalInterestReceived
21/09/2013£2,435.23£1,354.48£1,080.75
21/10/2013£2,435.23£1,367.79£1,067.44
21/11/2013£2,435.23£1,381.23£1,054.00
21/12/2013£2,435.23£1,394.80£1,040.43
21/01/2014£2,435.23£1,408.50£1,026.73
21/02/2014£2,435.23£1,422.34£1,012.89
21/03/2014£2,435.23£1,436.32£998.91
21/04/2014£2,435.23£1,450.43£984.80
21/05/2014£2,435.23£1,464.68£970.55
21/06/2014£2,435.23£1,479.07£956.16
21/07/2014£2,435.23£1,493.60£941.63
21/08/2014£2,435.23£1,508.28£926.95
21/09/2014£2,435.23£1,523.09£912.14
21/10/2014£2,435.23£1,538.06£897.17
21/11/2014£2,435.23£1,553.17£882.06
21/12/2014£2,435.23£1,568.43£866.80
21/01/2015£2,435.23£1,583.84£851.39
21/02/2015£2,435.23£1,599.40£835.83
21/03/2015£2,435.23£1,615.11£820.12
21/04/2015£2,435.23£1,630.98£804.25
21/05/2015£2,435.23£1,647.01£788.22
21/06/2015£2,435.23£1,663.19£772.04
21/07/2015£2,435.23£1,679.53£755.70
21/08/2015£2,435.23£1,696.03£739.20
21/09/2015£2,435.23£1,712.70£722.53
21/10/2015£2,435.23£1,729.52£705.71
21/11/2015£2,435.23£1,746.52£688.71
21/12/2015£2,435.23£1,763.67£671.56
21/01/2016£2,435.23£1,781.00£654.23
21/02/2016£2,435.23£1,798.50£636.73
21/03/2016£2,435.23£1,816.17£619.06
21/04/2016£2,435.23£1,834.02£601.21
21/05/2016£2,435.23£1,852.03£583.20
21/06/2016£2,435.23£1,870.23£565.00
21/07/2016£2,435.23£1,888.61£546.62
21/08/2016£2,435.23£1,907.16£528.07
21/09/2016£2,435.23£1,925.90£509.33
21/10/2016£2,435.23£1,944.82£490.41
21/11/2016£2,435.23£1,963.93£471.30
21/12/2016£2,435.23£1,983.22£452.01
21/01/2017£2,435.23£2,002.71£432.52
21/02/2017£2,435.23£2,022.39£412.84
21/03/2017£2,435.23£2,042.26£392.97
21/04/2017£2,435.23£2,062.32£372.91
21/05/2017£2,435.23£2,082.58£352.65
21/06/2017£2,435.23£2,103.05£332.18
21/07/2017£2,435.23£2,123.71£311.52
21/08/2017£2,435.23£2,144.57£290.66
21/09/2017£2,435.23£2,165.64£269.59
21/10/2017£2,435.23£2,186.92£248.31
21/11/2017£2,435.23£2,208.41£226.82
21/12/2017£2,435.23£2,230.10£205.13
21/01/2018£2,435.23£2,252.02£183.21
21/02/2018£2,435.23£2,274.14£161.09
21/03/2018£2,435.23£2,296.49£138.74
21/04/2018£2,435.23£2,319.05£116.18
21/05/2018£2,435.23£2,341.83£93.40
21/06/2018£2,435.23£2,364.84£70.39
21/07/2018£2,435.23£2,388.08£47.15
21/08/2018£2,435.23£2,411.54£23.69
Total:£110,000.01£36,113.79