DREAMBOX LIMITED

7414 Business & management consultancy

Funds Raised

£40,000.00

Final AER

16.58%

Loan term

60 MONTHS

Auction Closed

2017-06-04

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

About the Business

Company Name: DREAMBOX LIMITED Company Number: 05370032
Business Type: 7414 Business & management consultancy Years Trading: More than 10 years
Business Location: Camberly

About the Risk

Risk rating

B

Default rate

6.90%

Bad debt rate

5.67%

About the Security

Security Offered:

Personal Guarantee - PG from sole director, Mr Boxall

Est. Equity: 0.00

All Assets Debenture - Debenture creating a fixed and floating charge over all assets of the applicant company

Est. Equity: 0.00

Risk Indicators Identified:

Director/s has a poor personal credit history
A director/s have previous blemishes on their personal credit report
Below Average Business Credit Rating
A 3rd party credit rating agency has indicated that this business is above average risk.
High Debt-to-Equity Ratio
This company has a higher than average level of company debt in relation to its equity
Notable Dividends Taken
More than 50% of Net Profit has been taken as dividends within at least one of the assessed periods

Important Files

Who are we?

My business is in the entertainment sector which consists of a major contract with Sky Sports to commentate the golf. I became a professional golfer in 1982 and played professionally for around 17 years, which in turn landed me the commentary contractor with Sky.

Read more

Loan Offers

What is the loan for?

The loan will complete the buyout of an old director in the business. They left the company in December last year with the final settlement being for £65,000. This would not be paid directly to the old director, but to HMRC to clear an unexpected tax bill that was built up in their name while they worked for Dreambox Ltd.

Why consider investing?

Dreambox Limited have a contract in place with Sky which generates a turnover of around £200,000 per annum. With the company being a commentating business there are very little outgoings, which allows plenty of revenue to repay the debt.

Security

This loan is to be secured by way of a Personal Guarantee provided by the sole director of the business, Richard Boxall, and an All Assets Debenture.

Mr Boxall currently has an estimated net worth of £418,000. This is derived from his ownership of two properties, the first with an estimated value of £325,000 and £93,000 estimated equity, and the second, a domestic property with an estimated value of £950,000 and £335,000 estimated equity.

The Debenture will create a fixed and floating charge covering all assets of the applicant company. Given the nature of the business there are negligible fixed assets and as such the debenture will be mainly useful by providing the debenture powers such as the negative pledge and the granting of the ability to appoint an administrator.

ReBS Disclosure

Lenders should be aware that we have been informed that the equity position of the loan guarantor is likely to change shortly due to a pending divorce. The broker estimates that following the divorce, the estimated net worth of the guarantor is likely to be reduced as his wife will take sole ownership of the second of the two properties listed above. Whilst there is no timescale placed on the finalisation of the separation agreement or the divorce, it is likely that should this happen, the estimated net worth of Mr Boxall will be reduced to around £90,000.

ReBS Disclosure

Lenders are asked to note that although the draft accounts to February 2017 disclose no dividend payments, this position is likely to change before finalisation in order to pay back the director's loan which stands in the balance sheet, as a debtor, at £194,820.

DateAmountCapitalInterestReceived
06/07/2017£985.11£432.42£552.69
06/08/2017£985.11£438.39£546.72
06/09/2017£985.11£444.45£540.66
06/10/2017£985.11£450.59£534.52
06/11/2017£985.11£456.82£528.29
06/12/2017£985.11£463.13£521.98
06/01/2018£985.11£469.53£515.58
06/02/2018£985.11£476.01£509.09
06/03/2018£985.11£482.59£502.52
06/04/2018£985.11£489.26£495.85
06/05/2018£985.11£496.02£489.09
06/06/2018£985.11£502.87£482.23
06/07/2018£985.11£509.82£475.29
06/08/2018£985.11£516.87£468.24
06/09/2018£985.11£524.01£461.10
06/10/2018£985.11£531.25£453.86
06/11/2018£985.11£538.59£446.52
06/12/2018£985.11£546.03£439.08
06/01/2019£985.11£553.58£431.53
06/02/2019£985.11£561.22£423.88
06/03/2019£985.11£568.98£416.13
06/04/2019£985.11£576.84£408.27
06/05/2019£985.11£584.81£400.30
06/06/2019£985.11£592.89£392.22
06/07/2019£985.11£601.08£384.02
06/08/2019£985.11£609.39£375.72
06/09/2019£985.11£617.81£367.30
06/10/2019£985.11£626.35£358.76Not Due
06/11/2019£985.11£635.00£350.11Not Due
06/12/2019£985.11£643.77£341.33Not Due
06/01/2020£985.11£652.67£332.44Not Due
06/02/2020£985.11£661.69£323.42Not Due
06/03/2020£985.11£670.83£314.28Not Due
06/04/2020£985.11£680.10£305.01Not Due
06/05/2020£985.11£689.50£295.61Not Due
06/06/2020£985.11£699.02£286.09Not Due
06/07/2020£985.11£708.68£276.43Not Due
06/08/2020£985.11£718.47£266.63Not Due
06/09/2020£985.11£728.40£256.71Not Due
06/10/2020£985.11£738.47£246.64Not Due
06/11/2020£985.11£748.67£236.44Not Due
06/12/2020£985.11£759.01£226.09Not Due
06/01/2021£985.11£769.50£215.61Not Due
06/02/2021£985.11£780.13£204.97Not Due
06/03/2021£985.11£790.91£194.19Not Due
06/04/2021£985.11£801.84£183.27Not Due
06/05/2021£985.11£812.92£172.19Not Due
06/06/2021£985.11£824.15£160.96Not Due
06/07/2021£985.11£835.54£149.57Not Due
06/08/2021£985.11£847.09£138.02Not Due
06/09/2021£985.11£858.79£126.32Not Due
06/10/2021£985.11£870.66£114.45Not Due
06/11/2021£985.11£882.69£102.42Not Due
06/12/2021£985.11£894.88£90.23Not Due
06/01/2022£985.11£907.25£77.86Not Due
06/02/2022£985.11£919.78£65.33Not Due
06/03/2022£985.11£932.49£52.62Not Due
06/04/2022£985.11£945.38£39.73Not Due
06/05/2022£985.11£958.44£26.67Not Due
06/06/2022£985.11£971.68£13.43Not Due
Total:£40,000.01£19,106.49