M & P CARDS LIMITED

Other

Funds Raised

£25,000.00

Final AER

12.84%

Loan term

60 MONTHS

Auction Closed

2014-03-13

Recovery News
This loan may be behind with its repayment schedule and so microloan trading has been suspended while we work to help the business recover its repayment form. Please see the Loan Updates tab for recent updates.

About the Business

Company Name: M & P CARDS LIMITED Company Number: 02846903
Business Type: Other Years Trading: more than 10 years
Business Location: HAMPSHIRE

About the Risk

Risk rating

A

Default rate

7.00%

Bad debt rate

9.69%

About the Security

Security Offered:

Personal Guarantee - PG from Terrence Harvey

Est. Equity: 0.00

Personal Guarantee - PG from Jane Chandler

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

M&P Cards Ltd is a retail company specialising in the retail sale of greetings cards, giftware and Thorntons chocolates from high quality retail outlets. The company was established in 1992 as a single site retail business in Southampton city centre. In 2005 the company was acquired by Terry Harvey and an expansion program initiated with the opening of a new store in Portchester, Hampshire. A further store was opened in 2006 in Gillingham, Dorset, which was followed by the opening of a very significant store in Locksheath, Hampshire. The Locksheath store was one of the largest independent card and gift stores in the UK and is notable for its exceptional revenue/rent ratio. This store subsequently won awards for retailing excellence (RETAS 2009 & 2011). In 2011 another exceptional store was opened in Hungerford Berkshire in excess of 2300 sq ft. This store was home to first fine Belgian Chocolate concept store in the UK, called Pralibel. The Hungerford branch also won awards for retailing excellence. The business has now opened its 7th store in Melksham. M&P Cards Ltd has become synonymous in the industry with high-quality high-footfall retail stores. The store fit-outs are to the highest standards utilising the latest technologies and innovations in retailing such as browser based Epos systems, low energy lighting and bespoke display fixtures. Alongside this, the company operates a rigorous training program for staff, ensuring the highest levels of customer service and customer satisfaction are achieved. It is because of these values that M&P Cards Ltd have been chosen to open the UK’s largest Thorntons Franchise (opening March 2014). http://www.fromtheheartonline.co.uk/

Read more

Loan Offers

What is the loan for?

The loan is to finance a new store opening in Fareham. This will be our marquee store, on e of the biggest in the country. We know that the turnover of this store was previously in excess of £1m as it was formerly a Clinton's Shop. This store will also have a Thornton's Chocolates on site so expected turnover is in excess of £1m, with profits of circa. £250k net. The Shop fit is costing in the region of £300k which is being funded by Christmas trading, consulting fees as well as the proceeds from this loan.

Why consider investing?

The Company has minimal debt and is considered low geared. The company is increasing in profitability as more stores are opened. We've been trading since the 1980's and we've been delivering profit year on year. ** The Loan is supported by two Directors Guarantees. The first director has a personal property of est. value £493k and equity of £246,285. The second director's has a property with est. value of £441k and equity of £177,624**

DateAmountCapitalInterestReceived
06/04/2014£566.78£299.28£267.50
06/05/2014£566.78£302.48£264.30
06/06/2014£566.78£305.72£261.06
06/07/2014£566.78£308.99£257.79
06/08/2014£566.78£312.30£254.48
06/09/2014£566.78£315.64£251.14
06/10/2014£566.78£319.02£247.76
06/11/2014£566.78£322.43£244.35
06/12/2014£566.78£325.88£240.90
06/01/2015£566.78£329.37£237.41
06/02/2015£566.78£332.89£233.89
06/03/2015£566.78£336.45£230.33
06/04/2015£566.78£340.05£226.73
06/05/2015£566.78£343.69£223.09
06/06/2015£566.78£347.37£219.41
06/07/2015£566.78£351.09£215.69
06/08/2015£566.78£354.84£211.94
06/09/2015£566.78£358.64£208.14
06/10/2015£566.78£362.48£204.30
06/11/2015£566.78£366.36£200.42
06/12/2015£566.78£370.28£196.50
06/01/2016£566.78£374.24£192.54
06/02/2016£566.78£378.24£188.54
06/03/2016£566.78£382.29£184.49
06/04/2016£566.78£386.38£180.40
06/05/2016£566.78£390.51£176.27
06/06/2016£566.78£394.69£172.09
06/07/2016£566.78£398.92£167.86
06/08/2016£566.78£403.18£163.60
06/09/2016£566.78£407.50£159.28
06/10/2016£566.78£411.86£154.92
06/11/2016£566.78£416.26£150.52
06/12/2016£566.78£420.72£146.06
06/01/2017£566.78£425.22£141.56955 days overdue
06/02/2017£566.78£429.77£137.01924 days overdue
06/03/2017£566.78£434.37£132.41896 days overdue
06/04/2017£566.78£439.02£127.76865 days overdue
06/05/2017£566.78£443.71£123.07835 days overdue
06/06/2017£566.78£448.46£118.32804 days overdue
06/07/2017£566.78£453.26£113.52774 days overdue
06/08/2017£566.78£458.11£108.67743 days overdue
06/09/2017£566.78£463.01£103.77712 days overdue
06/10/2017£566.78£467.97£98.81682 days overdue
06/11/2017£566.78£472.97£93.81651 days overdue
06/12/2017£566.78£478.03£88.75621 days overdue
06/01/2018£566.78£483.15£83.63590 days overdue
06/02/2018£566.78£488.32£78.46559 days overdue
06/03/2018£566.78£493.54£73.24531 days overdue
06/04/2018£566.78£498.83£67.95500 days overdue
06/05/2018£566.78£504.16£62.62470 days overdue
06/06/2018£566.78£509.56£57.22439 days overdue
06/07/2018£566.78£515.01£51.77409 days overdue
06/08/2018£566.78£520.52£46.26378 days overdue
06/09/2018£566.78£526.09£40.69347 days overdue
06/10/2018£566.78£531.72£35.06317 days overdue
06/11/2018£566.78£537.41£29.37286 days overdue
06/12/2018£566.78£543.16£23.62256 days overdue
06/01/2019£566.78£548.97£17.81225 days overdue
06/02/2019£566.78£554.84£11.94194 days overdue
06/03/2019£566.78£560.78£6.00166 days overdue
Total:£25,000.01£9,006.79