PEBBLES OF SALCOMBE LTD

Hospitality

Funds Requested

£40,000.00

Offered so far

£0.00

Loan term

60 MONTHS

Auction Closed

2015-03-19

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This loan is now passed its deadline, lender funds will soon be released.

About the Business

Company Name: PEBBLES OF SALCOMBE LTD Company Number: 06545400
Business Type: Hospitality Years Trading: 6-10 years
Business Location: SUTTON HARBOUR

About the Risk

Risk rating

C

Default rate

13.30%

Bad debt rate

5.47%

About the Security

Security Offered:

Personal Guarantee - PG from James Spencer

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

Visit Our Website

Pebbles is a specialist property management services organisation providing services to luxury private second homes and 5* holiday homes in Salcombe and the surrounding areas of outstanding natural beauty.

Pebbles is run by mother-and-son Directors Deborah and James, who established the business in 2004 when they identified a need to bring together absent home owners with local skills and trades.

Pebbles’ clients are now able to achieve the wants and needs for their exceptional properties and small estates (value £600k - £5m) meanwhile Pebbles employs 35 – 110 local people (seasonal variation) who make it happen.

The team are lead by a strong senior management team, heading Property Management, Housekeeping, Grounds & Gardens, Business Development & Accounts. Year-on-year growth has been enjoyed through the first decade and the team have no intention of that trend changing!

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Loan Offers

What is the loan for?

IT infrastructure required for growth. 2012 funding from DEFRA provided development of a bespoke online interface for customers and staff. It streamlined management and added value to customer experience. The software now provides for 25% of business planning (saves c£45k in employment costs p.a.). Before Pebbles grows, the software will replace the majority of the remaining methods used by staff and clients.

Growth in the property renovations & project management functions demands an investment in additional office space and vehicles.

Whilst our current financial management is more than adequate we require the support of a part-time Financial Director to provide the control and know how to achieve the next phase with additional short term costs attached thereto

Why consider investing?

The current financial year will have been Pebbles strongest to-date and it isn't happening by accident.

In 2012 the Directors identified the need to establish a strong senior management to take the business in to the next growth phase. The team was completed in May 2014 and today the team at the top offers a wealth of industry knowledge, high-level management skills, and strong entrepreneurial leadership.

In 2013, the Directors began the process of refining its offering to existing clients and the market, with a strategy focused on achieving a clear brand identity and growing for profit not turnover.

In 2014 it was identified that growth required not only the right people and working capital but also specialist IT infrastructure and additional finance expertise. In 2015, these will complete the foundations from which the next phase can be launched without risk to Pebbles of Salcombe.

Security

The Loan will be secured by two director guarantees.

The personal guarantees are backed by assets in the name of one of the 50% shareholders, Deborah Carson who owns two properties to the value of £615K and outstanding first charges of £403K giving a net worth to the guarantees of £212K.

DateAmountCapitalInterestReceived
22/04/2015£929.28£464.95£464.33
22/05/2015£929.28£470.34£458.94
22/06/2015£929.28£475.80£453.48
22/07/2015£929.28£481.33£447.95
22/08/2015£929.28£486.91£442.37
22/09/2015£929.28£492.57£436.71
22/10/2015£929.28£498.28£431.00
22/11/2015£929.28£504.07£425.21
22/12/2015£929.28£509.92£419.36
22/01/2016£929.28£515.84£413.44
22/02/2016£929.28£521.83£407.45
22/03/2016£929.28£527.88£401.40
22/04/2016£929.28£534.01£395.27
22/05/2016£929.28£540.21£389.07
22/06/2016£929.28£546.48£382.80
22/07/2016£929.28£552.83£376.45
22/08/2016£929.28£559.24£370.04
22/09/2016£929.28£565.73£363.55
22/10/2016£929.28£572.30£356.98
22/11/2016£929.28£578.95£350.33
22/12/2016£929.28£585.67£343.61
22/01/2017£929.28£592.46£336.82
22/02/2017£929.28£599.34£329.94
22/03/2017£929.28£606.30£322.98
22/04/2017£929.28£613.34£315.94
22/05/2017£929.28£620.46£308.82
22/06/2017£929.28£627.66£301.62
22/07/2017£929.28£634.95£294.33
22/08/2017£929.28£642.32£286.96
22/09/2017£929.28£649.77£279.51
22/10/2017£929.28£657.32£271.96
22/11/2017£929.28£664.95£264.33
22/12/2017£22,348.84£22,092.10£256.73
22/01/2018£0.00£0.00£0.00
22/02/2018£0.00£0.00£0.00
22/03/2018£0.00£0.00£0.00
22/04/2018£0.00£0.00£0.00
22/05/2018£0.00£0.00£0.00
22/06/2018£0.00£0.00£0.00
22/07/2018£0.00£0.00£0.00
22/08/2018£0.00£0.00£0.00
22/09/2018£0.00£0.00£0.00
22/10/2018£0.00£0.00£0.00
22/11/2018£0.00£0.00£0.00
22/12/2018£0.00£0.00£0.00
22/01/2019£0.00£0.00£0.00
22/02/2019£0.00£0.00£0.00
22/03/2019£0.00£0.00£0.00
22/04/2019£0.00£0.00£0.00
22/05/2019£0.00£0.00£0.00
22/06/2019£0.00£0.00£0.00
22/07/2019£0.00£0.00£0.00
22/08/2019£0.00£0.00£0.00
22/09/2019£0.00£0.00£0.00
22/10/2019£0.00£0.00£0.00
22/11/2019£0.00£0.00£0.00
22/12/2019£0.00£0.00£0.00
22/01/2020£0.00£0.00£0.00
22/02/2020£0.00£0.00£0.00
22/03/2020£0.00£0.00£0.00
Total:£39,986.11£12,099.68