Spencer Welding Ltd


Funds Raised


Final AER


Loan term


Auction Closed


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: Spencer Welding Ltd Company Number: 07828255
Business Type: Manufacturing Years Trading: 4-5 years
Business Location: CONWY

About the Risk

Risk rating


Default rate


Bad debt rate


About the Security

Security Offered:

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

Est. Equity: 0.00

Personal Guarantee - PG from Director and Majority Shareholder

Est. Equity: 0.00

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

Est. Equity: 0.00

Personal Guarantee - PG from Director and Majority Shareholder

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

Spencer Welding Ltd t/a All Meck Services has been operating since 1999 in welding and mechanical engineering in the UK, Europe, Africa and Middle east We offer a set of solutions to meet and exceed customer requirements, regardless of the scale or complexity of the project.

Our fabrication is designed to last and endure the stresses of daily wear and tear, Our engineers which we employ are qualified and trained to deal with all of your requests and carry out premium work, harnessing a wealth of experience to deliver professional and cost effective results.

Services provided include :

    •Specialist and Industrial welders

    •Confined spaces welding

    •Welding with Aluminium, Mild Steel, Carbon steel and Stainless Steel

    •Drainage and pipe solutions

    •Pipes, Valves and Flanges fabricated and installed

    •Conveyors, hoppers, dryers, incline elevators, buckets and all processing plant built to sizes required and production levels

    •Steel erection and structural repairs

    •Gates and Railing

    •Access Stairs and Platforms

    •Fracture Repairs (Mobile Machinery & Static)

    •On site plasma cutters for cutting and gouging

    •Project Management

    •Bespoke Machinery Designed and Built

    •Health and Safety Management

    •LOLER inspections

    •On-Site Repairs

    •Mobile Plant Repairs

    •Industrial Roof Installation, Refurbishment and Repairs

Previous Company.

Allmeck Services Ltd was a separate company which was run by Gary and Ian Spencer (Brothers). Victims of recession things became very difficult in 2010 and the company went into liquidation.

At the same time, Gary and Ian were running Spencer Welding/ All Meck services as a partnership. Due to the above company, Gary and Ian split the partnership and Gary continued trading, incorporating Spencer Welding Ltd.

Bad Debt

There is a long standing bad debt applied to the Management Accounts. Simelectro, a French Company has gone into receivership. They have been left with a large debt. Currently part of this debt will be repaid from an insurance claim through Lloyds Bank (invoice financing) and the director has negotiated a further £45,000 payment which is still awaiting. We have provided up to date management accounts including the debt write-off as it stands, and a projection showing the company moving forward.

Read more

Loan Offers

What is the loan for?

The loan is to repay HMRC finance :

The loan will be used for paying off VAT, and PAYE 12-13 (this is outstanding due to a customer going into liquidation still owing us £134K which left us struggling to pay at the time, at the moment we are paying £6600 a month to the revenue to pay old debt).

Why over 5 years? What are you doing within the business to prevent a similar requirement next year?

The reason for this is to make our cash flow in a better position, paying £2k a month is better than paying £6k a month, therefore the remaining £4k some will be put away a month to prepare for future VAT to stop us from falling behind again, at the moment as we are paying so much out in a month we are unable to put money away to prepare for the next VAT quarter. As for the PAYE 14-15 is paid every week as the wages are being paid therefore we should never be behind.

Why consider investing?

Strong company hit hard by one large debtor failing to pay. Recovering well and now in a strong position.


The loan is to be secured by way of Directors guarantee and a second priority All Assets Debenture

The Director has an estimate net worth of £134k. This is primarily form ownership of a personal property with an estimate value of £180k and £ 134k equity

13/04/2017£1,381.13£808.82£572.31 (6 days late)
13/08/2017£1,381.13£856.99£524.14 (10 days late)
13/11/2017£1,381.13£894.99£486.14 (22 days late)
13/01/2018£1,381.13£921.25£459.88583 days overdue
13/02/2018£1,381.13£934.67£446.46552 days overdue
13/03/2018£1,381.13£948.28£432.85524 days overdue
13/04/2018£1,381.13£962.10£419.03493 days overdue
13/05/2018£1,381.13£976.11£405.02463 days overdue
13/06/2018£1,381.13£990.33£390.80432 days overdue
13/07/2018£1,381.13£1,004.76£376.37402 days overdue
13/08/2018£1,381.13£1,019.39£361.74371 days overdue
13/09/2018£1,381.13£1,034.24£346.89340 days overdue
13/10/2018£1,381.13£1,049.31£331.82310 days overdue
13/11/2018£1,381.13£1,064.59£316.54279 days overdue
13/12/2018£1,381.13£1,080.10£301.03249 days overdue
13/01/2019£1,381.13£1,095.83£285.30218 days overdue
13/02/2019£1,381.13£1,111.80£269.33187 days overdue
13/03/2019£1,381.13£1,127.99£253.14159 days overdue
13/04/2019£1,381.13£1,144.42£236.71128 days overdue
13/05/2019£1,381.13£1,161.09£220.0498 days overdue
13/06/2019£1,381.13£1,178.00£203.1367 days overdue
13/07/2019£1,381.13£1,195.16£185.9737 days overdue
13/08/2019£1,381.13£1,212.57£168.566 days overdue
13/09/2019£1,381.13£1,230.24£150.89Not Due
13/10/2019£1,381.13£1,248.16£132.97Not Due
13/11/2019£1,381.13£1,266.34£114.79Not Due
13/12/2019£1,381.13£1,284.79£96.34Not Due
13/01/2020£1,381.13£1,303.50£77.63Not Due
13/02/2020£1,381.13£1,322.49£58.64Not Due
13/03/2020£1,381.13£1,341.75£39.38Not Due
13/04/2020£1,381.13£1,361.30£19.83Not Due