OPWG LTD

Retail sale of games and toys in specialised stores

Funds Raised

£26,500.00

Final AER

19.39%

Loan term

60 MONTHS

Auction Closed

2018-03-07

Trading on Hold
Microloan trading is currently on hold for this loan.

About the Business

Company Name: OPWG LTD Company Number: 09533980
Business Type: Retail sale of games and toys in specialised stores Years Trading: 2-3 years
Business Location: SHEFFIELD

About the Risk

Risk rating

C

Default rate

13.30%

Bad debt rate

5.47%

About the Security

Security Offered:

Personal Guarantee - PG from Christopher Murdoch

Est. Equity: 0.00

Personal Guarantee - PG from Alys Talkowski

Est. Equity: 0.00

All Assets Debenture - Fixed and floating charge over all assets of the business

Est. Equity: 7400.00

Risk Indicators Identified:

Low Security Coverage
The security offered on this loan is below desirable levels
Losses Identified
This business has recorded losses in at least one of the last two financial years. See the finances tab for more information

Important Files

Who are we?

We are a retail company in a growing but established industry. We retail tabletop miniatures, board games and other associated products. Our industry is continuing to grow and we are benefiting from this growth, this is helped by the desire for consumers to achieve value for money. We are also seeing a benefit from the sterling value dip as the primary manufacturer for our products is UK based, as such we have seen an increase in both domestic and international sales, especially when compared to other manufacturers ranges which are imported, therefore suffering price rises.

We are also a leading provider of gaming and events with our only restriction being the space available to us, there is room for this expansion within our current location. Growth is required to securely grow this aspect of our business. The Finance we are applying for will enable that growth.

To further establish ourselves in a very strong position we believe investment is required.

Read more

Loan Offers

What is the loan for?

The use of this funding would be multifaceted.

- Refinancing

- Stock investment

- Cashflow management

We currently have a finance option which is repaid on gross sales through our primary payment channel - a Paypal Cash Advance. Currently this is taking 10% of our total sales, with an average margin of 20% this is very damaging to our cashflow.

In addition we believe that investment in our stock levels and increasing them will generate up to 100% more business. We have been growing significantly over the past 12 months. Our projections are for 100% growth on the year 16/17. This is based on our previous 9 months in which we have already seen significant growth. In the year of 16/17 we had a turnover of approximately £241k. From April 17-January 18 we have already reached approximately £330k. Our projections with our current circumstances place us around £400k for the year 17/18. This growth can be compounded with a finance option and take up over the £500k upper target thus achieving more than 100% growth.

We would also like to acquire a reserve to ensure that all bills can be paid promptly and invoices cleared without delay, this enables customer orders and restocks to be sent quickly and without trouble for our suppliers. This increases our reliability further with our customers. Additionally it will allow for opportunistic purchases when particular products/codes become available for a very short space of time. Purchasing large proportions of these restocks will starve our competitors of the stock and increase our demand further.

Currently out repayments amount to £3-5k per month depending on turnover. With repayments on a loan this number would be significantly reduced, thus improving cash flow further.

We believe that a finance deal is key to further improving our companies position even with it's current growth.

Why consider investing?

The Outpost is a well known brand in the industry of tabletop gaming and our reputation is down to honest stock levels, quick dispatch and the highest quality customer service.

We are serious about becoming the biggest in our industry which despite the recession has grown incredibly in the last 5 years. Our primary supplier (Games Workshop) is growing at such a rate they're making headlines. We are a part of that growth and success.

Our growth on the previous year is currently tracking at 65% but there is still more room to grow. We believe that a loan would enable up to realise that potential through cash flow and stock improvements.

There are further plans for our gaming areas, which host tournaments and events for captive audiences, to be improved and grown in approximately 18 months. This plan would place at the forefront of tournament venues and further grow our brand. This requires investments which will be funded by the growth of the company.

Ultimately, we are a profit making company with a track record of growth and realistic goals.

Security

This application is to be secured by a Personal Guarantee and an All Assets Debenture.

The directors, Mr Christopher Murdoch and Ms Alys Talkowski, will be providing Personal Guarantees. Neither are homeowners.

An All Assets Debenture will also be taken over the applicant business. This will create a first priority fixed and floating charge over all assets of the company. The assets covered by the charge are comprised of and gaming equipment, fixtures and fittings worth an estimated £2,000, a debtor book of around £5,000 and approximately £28-30,000 of stock.

DateAmountCapitalInterestReceived
08/04/2018£693.09£264.94£428.15
08/05/2018£693.09£269.22£423.87
08/06/2018£693.09£273.57£419.52
08/07/2018£693.09£277.99£415.10
08/08/2018£693.09£282.49£410.60
08/09/2018£693.09£287.05£406.04 (6 days late)
08/10/2018£693.09£291.69£401.40
08/11/2018£693.09£296.40£396.69
08/12/2018£693.09£301.19£391.90
08/01/2019£693.09£306.05£387.04
08/02/2019£693.09£311.00£382.09
08/03/2019£693.09£316.02£377.07
08/04/2019£693.09£321.13£371.96
10/05/2019£693.09£326.32£366.77
10/06/2019£693.09£331.59£361.50
10/07/2019£693.09£336.95£356.14
10/08/2019£693.09£342.39£350.70
10/09/2019£693.09£347.92£345.17Not Due
10/10/2019£693.09£353.55£339.54Not Due
10/11/2019£693.09£359.26£333.83Not Due
10/12/2019£693.09£365.06£328.03Not Due
10/01/2020£693.09£370.96£322.13Not Due
10/02/2020£693.09£376.95£316.14Not Due
10/03/2020£693.09£383.04£310.05Not Due
10/04/2020£693.09£389.23£303.86Not Due
10/05/2020£693.09£395.52£297.57Not Due
10/06/2020£693.09£401.91£291.18Not Due
10/07/2020£693.09£408.40£284.69Not Due
10/08/2020£693.09£415.00£278.09Not Due
10/09/2020£693.09£421.71£271.38Not Due
10/10/2020£693.09£428.52£264.57Not Due
10/11/2020£693.09£435.44£257.65Not Due
10/12/2020£693.09£442.48£250.61Not Due
10/01/2021£693.09£449.63£243.46Not Due
10/02/2021£693.09£456.89£236.20Not Due
10/03/2021£693.09£464.28£228.81Not Due
10/04/2021£693.09£471.78£221.31Not Due
10/05/2021£693.09£479.40£213.69Not Due
10/06/2021£693.09£487.14£205.95Not Due
10/07/2021£693.09£495.01£198.08Not Due
10/08/2021£693.09£503.01£190.08Not Due
10/09/2021£693.09£511.14£181.95Not Due
10/10/2021£693.09£519.40£173.69Not Due
10/11/2021£693.09£527.79£165.30Not Due
10/12/2021£693.09£536.32£156.77Not Due
10/01/2022£693.09£544.98£148.11Not Due
10/02/2022£693.09£553.79£139.30Not Due
10/03/2022£693.09£562.73£130.36Not Due
10/04/2022£693.09£571.83£121.26Not Due
10/05/2022£693.09£581.06£112.03Not Due
10/06/2022£693.09£590.45£102.64Not Due
10/07/2022£693.09£599.99£93.10Not Due
10/08/2022£693.09£609.69£83.40Not Due
10/09/2022£693.09£619.54£73.55Not Due
10/10/2022£693.09£629.55£63.54Not Due
10/11/2022£693.09£639.72£53.37Not Due
10/12/2022£693.09£650.05£43.04Not Due
10/01/2023£693.09£660.56£32.53Not Due
10/02/2023£693.09£671.23£21.86Not Due
10/03/2023£693.09£682.07£11.02Not Due
Total:£26,499.99£15,085.41