Funds Raised


Final AER


Loan term


Auction Closed


Micro Loan Opportunities
Buy Capital Seller's
Price Buyer's
£9.49 +4.04% £9.88 18.00%
£9.49 +5.00% £9.97 17.54%
£9.49 +6.50% £10.11 16.83%
£9.49 +6.80% £10.14 16.69%
£18.98 +6.90% £20.29 16.64%

About the Business

Company Name: LE BUREAU LIMITED Company Number: 03287053
Business Type: ADMINISTRATIVE AND SUPPORT SERVICE ACTIVITIES Years Trading: More than 10 years
Business Location: Lingfield

About the Risk

Risk rating


Default rate


Bad debt rate


About the Security

Security Offered:

Personal Guarantee - PG from director, Gary Hazzard

Est. Equity: 181000.00

Personal Guarantee - PG from director, Monique Juchaud

Est. Equity: 181000.00

Risk Indicators Identified:

Marginal Growth
This company has shown low levels of growth over recent financial reporting periods
Director/s has a poor personal credit history
A director/s have previous blemishes on their personal credit report
High level of borrowings
This business has a high level of borrowings in relation to its turnover
This listing contains disclosures from ReBS. Lenders are encouraged to read them in the profile tab

Important Files

Who are we?

Gary Hazzard and Monique Juchaud, both previously business consultants with Price Waterhouse, have owned and operated Le Bureau Limited for a number of years.

The company was established in 1996 as a design and print shop in Lewes, near Brighton. In a separate division based in Lingfield Surrey, over the last few years they have developed and provide the Athena Catering Solution to prisons, hospitals, councils and colleges. Both business activities are established.

The print shop has a solid reputation, regular turnover and a strong position in the market place. It provides high quality large format scanning and twelve colour print facilities, focusing on the local artists, architects, designers and others in the Lewes and Brighton area. The company utilises its laser printing machines, binding and associated services for local businesses and the public. A large proportion of the Thesis printing from the University of East Sussex is done by the company.

The Athena product is a complete catering solution providing dietary analysis for meal planning, capturing consumer meal selections, food preparation, meal service, optimising purchasing, inventory control and financial control. It incorporates everything from designing recipes and menus, obtaining patient and prisoner meal selections and then monitoring the process to prepare and serve the request meals. It includes complete purchasing, inventory control and HACCP (Hazard and critical control points). Full detail can be seen at www.lb-solutions.com

The strategy with the Athena catering system has been to establish a reputation for the system and have it implemented in primary sector organisations which provide good references and ensure it meets their needs. The system is now implemented in a number of ospitals, Prisons, colleges and councils. Over the last twelve months, Athena has evolved to provide demonstrable unique characteristics specific to the health sector and a strong pipeline now exists, per the attached.

In essence, the Athena solution solves the complex problem of recipe and menu analysis being integrated with user dietary requirements. The ability to process patient and prisoner meal requests from any source (paper, electronic, summaries, imports) and procedurally run the full catering cycle is unique to Athena with the added benefit of integrated nutritional and allergen analysis

Read more

Loan Offers

What is the loan for?

Whilst previously borrowed funds have been deployed in developing the system itself, the aim of this application is to seek further operating funds of £50,000, to meet changing procurement procedures in the Government sector, an alteration in the company’s contracting approach and to continue to deliver on sales and marketing plans

In summary:

a. Funding sales. The NHS and other Government Departments are introducing Purchasing Framework agreements, where suppliers need to supply via these Frameworks. Athena does not fit exactly into any explicit published framework. The company has therefore had to change the way it bills the NHS clients, forced into supplying via a Framework agreement, the simple upshot being an extension in the payment cycle by 60 days.

b. Sales and marketing continuity and expansion The sales and marketing team have expanded. The pipeline is strong. We need to continue to fund the growth.

c. Providing three and five year contracts for prisons and NHS The upfront cost of the solution can be greater than local approval expenditure level in a prison, and will require the project to be put into a capital bid process. There are more than twenty prospects that want the system, but each proposal is stuck in a capital bid process. By providing an annual contract value the proposal immediately gets approved without it going into a capital bid process thus speeding-up the process. However, up-front costs are incurred which need to be funded, then clawed back over the first year of the contract.

The last 3 years’ accounts can be summarised as follows:

Year 2018 2017 2016
T/O £266K £236K £201K
GP £232K £197K £163K
NPBT £80K £67K £65K
NCA £233K £391K £585K
NW £1.424m £744K £677K

Worthy of specific additional comment are the following points:

a. Directors have absolute faith in the company and all directors’ loans are capitalised. In 2017 the director’s loans were deemed as Long Term liabilities. In 2018 directors’ loans were capitalised.

The primary assets of the company are equipment in Lewes including production equipment and binding equipment; computer and office equipment; the intangible software asset I the guise of the Athena Catering solution. Liabilities include the residual of loan taken from Funding Circle of approx. £235K ( £6700 pe rmonth ) and a £3K loan from Natwest ( £450 per month ). The company also makes use of £30K of overdraft facilities across its two business banking reIationships, Barclays and NatWest.

Why consider investing?

Over the next three years Athena aims to stand alone as a market leader in its sectors with a targeted £1.7M+ turnover.


1. Please note that there is a default registered against Mr Hazzard which is in the process of being cleared. This followed a dispute with a card provider in 2015.

2. The depreciation charge per the 2018 P&L does not tally with the depreciation shown in the balance sheet notes. The director has confirmed that this is an error caused by the equipment depreciation of £2,727 not being updated on the automatic calculation.


This loan is to be secured by way of a Personal Guarantee from the directors, Mr Gary Hazzard and Ms Monique Juchaud.

They have a combined estimated net worth of £362,000. This is derived from their joint ownership of a property with an estimated value of £1.1m and £680,000 estimated equity. They also jointly own an unencumbered property in France with an estimated value of £1.29m. As it is overseas, this property has been excluded from our calculation of the estimated net worth and PG value.

18/09/2019£1,415.16£572.10£843.06Not Due
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18/12/2019£1,415.16£601.07£814.09Not Due
18/01/2020£1,415.16£611.05£804.11Not Due
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18/01/2024£1,415.16£1,346.95£68.21Not Due
18/02/2024£1,415.16£1,369.31£45.85Not Due
18/03/2024£1,415.16£1,392.05£23.11Not Due