THE NAGS HEAD STAPLETON LIMITED

Hospitality

Funds Raised

£45,000.00

Final AER

19.29%

Loan term

60 MONTHS

Auction Closed

2016-10-18

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: THE NAGS HEAD STAPLETON LIMITED Company Number: 10156189
Business Type: Hospitality Years Trading: Less than 2 years
Business Location: LEAMINGTON SPA

About the Risk

Risk rating

C

Default rate

13.30%

Bad debt rate

5.47%

About the Security

Security Offered:

Personal Guarantee - PG from Mr Horner

Est. Equity: 0.00

Personal Guarantee - PG from Mr Sealer

Est. Equity: 0.00

All Assets Debenture - Fixed and floating charge over all company assets

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

The Nags Head is a warm friendly, family village public house situated in the village of Stapleton, 7 miles east of Leicester. The pub offers a wide selection of cask ales; cider & fine wines whilst also offering traditional food dishes prepared using local produce. The Pub has a large garden (2 acres) & patio area accompanied with an outside bar & extensive customer seating. The pub currently runs at a 50/50 trade split.

Read more

Loan Offers

What is the loan for?

The funds will be used to assist Jason in the leasehold purchase of The Nags Head, Stapleton.

Why consider investing?

Jason has over 20 years experience within the hospitality & leisure sector having initially started as a wine waiter, he worked his way up to deputy general manager of a 4 star hotel. Jason has since held management positions at various other establishments from small restaurants to large golf hotels & cruise ships. His responsibilities included working within a budget, managing a small team & maintaining stock levels.

Mark is experienced businessman who will come in as a silent partner of the business. Jason & Mark will set the business up as a Ltd company, Jason will then pay back Mark over a 5 year deal with a lump sum each year with a % of interest on the remaining balance over the 5 years.

Jason's Objectives -

• To increase food sales GP to 65% by Novemeber 2016, in line with industry standards.

• Increase food & wet sales by 10% within the first 12 months

• Purchase of a Marquee to move into the private function market. The extensive garden offers large potential for hosting events such as a farmers market, weddings & birthday parties.

• To increase the restaurant capacity from 42 covers to 55/60 covers by the way of an orangery, which in turn would increase the bar seating area by a further 12 seats.

ReBS Disclosure

Lenders should be aware that there are no management accounts for this company as the previous owners of this business did not keep MAs.

Security

This loan is to be secured by way of a Personal Guarantee provided by both directors and an All Assets Debenture over the applicant company.

As the directors are not homeowners, they shall support their Personal Guarantees with Personal Guarantee Insurance, which will be purchased prior to drawdown with the beneficiary interest being assigned to ReBS.

The Debenture will create a fixed and floating charge over all assets of The Nag's Head Stapleton Limited, which will include all of the purchased assets, as detailed on the 'business purchase summary sheet'.

DateAmountCapitalInterestReceived
19/11/2016£1,174.59£451.11£723.48
19/12/2016£1,174.59£458.36£716.23
19/01/2017£1,174.59£465.73£708.86
19/02/2017£1,174.59£473.22£701.37
19/03/2017£1,174.59£480.82£693.77 (10 days late)
19/04/2017£1,174.59£488.55£686.04
19/05/2017£1,174.59£496.41£678.18 (6 days late)
19/06/2017£1,174.59£504.39£670.20
19/07/2017£1,174.59£512.50£662.09
19/08/2017£1,174.59£520.74£653.85
19/09/2017£1,174.59£529.11£645.48
19/10/2017£1,174.59£537.62£636.97
19/11/2017£1,174.59£546.26£628.33
19/12/2017£1,174.59£555.04£619.55
19/01/2018£1,174.59£563.97£610.62
19/02/2018£1,174.59£573.03£601.56 (8 days late)
19/03/2018£1,174.59£582.25£592.34518 days overdue
19/04/2018£1,174.59£591.61£582.98487 days overdue
19/05/2018£1,174.59£601.12£573.47457 days overdue
19/06/2018£1,174.59£610.78£563.81426 days overdue
19/07/2018£1,174.59£620.60£553.99396 days overdue
19/08/2018£1,174.59£630.58£544.01365 days overdue
19/09/2018£1,174.59£640.72£533.87334 days overdue
19/10/2018£1,174.59£651.02£523.57304 days overdue
19/11/2018£1,174.59£661.49£513.10273 days overdue
19/12/2018£1,174.59£672.12£502.47243 days overdue
19/01/2019£1,174.59£682.93£491.66212 days overdue
19/02/2019£1,174.59£693.91£480.68181 days overdue
19/03/2019£1,174.59£705.06£469.53153 days overdue
19/04/2019£1,174.59£716.40£458.19122 days overdue
19/05/2019£1,174.59£727.92£446.6792 days overdue
19/06/2019£1,174.59£739.62£434.9761 days overdue
19/07/2019£1,174.59£751.51£423.0831 days overdue
19/08/2019£1,174.59£763.59£411.000 days overdue
19/09/2019£1,174.59£775.87£398.72Not Due
19/10/2019£1,174.59£788.34£386.24Not Due
19/11/2019£1,174.59£801.02£373.57Not Due
19/12/2019£1,174.59£813.90£360.69Not Due
19/01/2020£1,174.59£826.98£347.61Not Due
19/02/2020£1,174.59£840.28£334.31Not Due
19/03/2020£1,174.59£853.79£320.80Not Due
19/04/2020£1,174.59£867.51£307.07Not Due
19/05/2020£1,174.59£881.46£293.13Not Due
19/06/2020£1,174.59£895.63£278.96Not Due
19/07/2020£1,174.59£910.03£264.56Not Due
19/08/2020£1,174.59£924.66£249.92Not Due
19/09/2020£1,174.59£939.53£235.06Not Due
19/10/2020£1,174.59£954.64£219.95Not Due
19/11/2020£1,174.59£969.98£204.61Not Due
19/12/2020£1,174.59£985.58£189.01Not Due
19/01/2021£1,174.59£1,001.42£173.16Not Due
19/02/2021£1,174.59£1,017.52£157.06Not Due
19/03/2021£1,174.59£1,033.88£140.71Not Due
19/04/2021£1,174.59£1,050.51£124.08Not Due
19/05/2021£1,174.59£1,067.39£107.19Not Due
19/06/2021£1,174.59£1,084.56£90.03Not Due
19/07/2021£1,174.59£1,101.99£72.60Not Due
19/08/2021£1,174.59£1,119.71£54.88Not Due
19/09/2021£1,174.59£1,137.71£36.88Not Due
19/10/2021£1,174.59£1,156.00£18.59Not Due
Total:£45,000.01£25,475.34