BELGRAVE UK SERVICES LIMITED

Event catering activities

Funds Requested

£52,500.00

Offered so far

£52,500.00

Loan term

60 MONTHS

Auction Deadline

2019-08-21

X
Bid Now
X

You must be logged in to bid on this loan.

About the Business

Company Name: BELGRAVE UK SERVICES LIMITED Company Number: 10547007
Business Type: Event catering activities Years Trading: 2-3 years
Business Location: London

About the Risk

Risk rating

B

Default rate

7.10%

Bad debt rate

5.84%

About the Security

Security Offered:

Personal Guarantee - PG from Gael Camgaston

Est. Equity: 0.00

All Assets Debenture - First priority fixed and floating charge over all assets of the applicant business

Est. Equity: 100893.33

Risk Indicators Identified:

May not produce Management Accounts
This company may not prepare management accounts on a regular basis
Low Liquidity
This business has a lower than average ratio of liquid assets to current liabilities

Important Files

Who are we?

We are an event catering company founded in 2017, specialising in Mediterranean food and supply of canapes. Our friendly and efficient team is always available to take care of all the clients catering and service planning, management, and execution needs for their event, whether it’s a wedding or a birthday we are happy to be part of the experience.

What difficulties has the business had to overcome?

Like any similar business in this sector, we faced various challenges; form contracting the right people, to minimising staff turnover, having to work very long hours, training our team to meet our expectations of product and service, dealing with difficult and demanding customers, being organised in the face of the ever changing venues locations and expectation and last but not least, minimising our food waste.

How has it grown?

The catering industry is a very challenging industry to succeed in, however, our love for food and the love for serving it in a celebratory environment is our daily inspiration. We excel in facing new challenges with creativity, good customer service, quality products and our love to making our customers happy. This helped us create good relationships with our clients and positive word of mouth recommendations, helping us achieve a steady growth.

What does the future look like?

The future of our business looks promising. The Mediterranean food menu is rich and caters for large portion of the consumer demographic, from vegans to meat lovers. The current food trends indicates to the love of unique culinary experiences which is our speciality.

With the large menu option and the creativity to produce unique dining experiences that fulfil current consumer expectations, we are confident our business has a positive future.

Do you have any growth plans?

We are currently under negotiations with a talented pastry chef to join our team and help us establish a homemade dessert product list and service.

We are as well looking to increase our marketing, social media and PR to target more clients.

What opportunities are you planning to capitalise on?

Our main opportunity is using our current database of established and wealthy customers to establish a prominent online presence. This will prove to be a huge leads generator that we will aim to turn into sales.

Read more

Loan Offers

What is the loan for?

The loan will be used to invest in implementing our marketing plan. As previously discussed, we aim to have a prominent online presence. In order to do this, we need the loan to fund the various skills that we must contract to implement our marketing strategy (these include photographers, seo experts, web designers, PR specialists etc).

With current business search trends in mind, a strong marketing campaign and a prominent online presence will undoubtedly generate new sales leads from a wider consumer market.

With the introduction of a pastry department and having a strong online presence allows us to stay competitive, reach new customers, introduce wider service and product range with the aim aim of achieving positive exposure to new and potential customers.

Why consider investing?

We are an established business aiming to expand, be competitive in current market and reach a wider affluent audience that we would love the opportunity to work with. Our business is healthy with growth in sales experienced year on year i.e 650 k 2017 980k 2018, but in our opinion lacking strong enough online presence that can keep us at the top of our game.

The requested loan is being invested in a strategical and closely monitored business development , with the aim of generating more quality sales that will allow us to increase our company turnover by a further 30 to 40 percent and increase our profit margin for the current 20 percent to 3 percent .

Security

This loan will be secured by way of a Personal Guarantee and an All Assets Debenture.

A PG will be provided by the sole director, Mr Gael Camgaston. Gael is not a homeowner, so no value has been assigned to the PG. Whilst still conveying the right for us to pursue insolvency action and potentially bankruptcy, this will be of use primarily as a tool to bring a reluctant debtor to the table or pursue an income payment order rather than to secure a bankruptcy dividend.

An All Assets Debenture will also be taken over the company. This will create a first priority fixed and floating charge over all fixed and current assets of the company. These are primarily composed of tangible fixed assets which have a book value of £302,680 (based on the most recent filed accounts).