Tamar Adventures Limited

Other

Funds Raised

£35,000.00

Final AER

14.30%

Loan term

60 MONTHS

Auction Closed

2015-02-17

Micro Loan Opportunities
Buy Capital Seller's
Premium
Price Buyer's
Rate
BuyBack
£13.37 +2.62% £13.72 5.00%

About the Business

Company Name: Tamar Adventures Limited Company Number: 7780381
Business Type: Other Years Trading: 2-3 years
Business Location: TAVISTOCK

About the Risk

Risk rating

C

Default rate

13.30%

Bad debt rate

5.47%

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

Risk Indicators Identified:

Important Files

Who are we?

We run a tourist and outdoor adventure destination in the Tamar Valley, an area of outstanding natural beauty (AONB). Tamar Trails Centre nestles in the wooded hillside alongside the river Tamar near Gulworthy in Devon at the start of 30kms of walking and mountain biking woodland trails. Providing family days out, outdoor activities and a place to relax, enjoy and learn. We have passion for what we do and have big plans for the future development of the business.

You can find out more about us on www.tamartrails.co.uk and www.outdoorleaders.co.uk

Well known for our high ropes ‘Tree Surfing’ course; we offer more than just a chance to get off the ground. Through our experienced and knowledgeable instructors and staff we offer a chance to get much more out of your time with us all in a safe and secure environment. Archery, bush craft, tree jumps and zip wires in the air after which let us thrill you with canoe and kayak trips down the river Tamar, explore the valley by mountain bike or just sit and unwind in the café and visitor centre learning about the heritage of the Tamar valley and AONB

A less well known section of our business is our outdoor leaders’ course. Given the known seasonality of the industry we use our winters and early springs to train other outdoor leaders in various skills required so that they are ready for the summer season ahead. This has proven a good way to utilise equipment, facilities and time to generate additional revenue.

Trading as a limited company, Tamar Adventures Limited, we (Directors - Kate Blake and Paul Turner) are passionate about expanding our business operations so we can not only attract more families and guests to our centre but to ensure that once we have them here we can keep them for longer by offering more rounded facilities and things to do.

We know we have the support of a number of institutions and organisations around us including West Devon Borough Council (WDBC), Devon County Council, Cotehele National Trust, Tamar Valley AONB and Tamar Community Trust. They have, during the last few years either supported our business through investing in local infrastructure or suggesting future partnerships (e.g. Tree Surfing at Cotehele).

We have secured premises in our lease our visitor centre/café from WDBC. The car park is owned by WDBC but allows for ample parking. The woodland area is owned by a local company and we have a good relationship with the director. We pay a rent based on our turnover.

For information: we started our venture 12 years ago as a partnership and shortly after incorporated into the Dartmoor Outdoor Company Limited (company number 05583971). Looking to set up our tree surfing offering we used an overseas supplier to fit and install our first course however, due to some unforeseen circumstances they were unable to finish the course leaving us with both lost funds and no course together with ongoing overheads. Following substantial legal fees we were forced to dissolve the company and start again. Paul has now learnt to make, prepare and test the course stations to appropriate safety standards which mean we can install these ourselves making substantial savings on others.

Read more

Loan Offers

What is the loan for?

The loan is for a number of items:

Firstly we have operated a cashflow forecast model for a number of years but this partially relies on obtaining deposits in advance for our outdoor leaders’ course which takes place in February during the winter months. However, our numbers in winter 2014/15 have dipped slightly with fewer people taking us up on the offering. This has unfortunately left us with a cashflow/working capital hole and VAT due based on a good summer trade of £8,212. We have already paid £1,000 of this but need funding to provide a working capital injection to meet the HMRC liability. A time to pay arrangement is in place but we would rather have this settled.

Secondly, we now need to put some investment into our course and put some replacement and renewed items into the course. This requires materials but we now have the expertise in house to make and fit the stations meaning we can create fantastic courses at a fraction of the price compared to our competitors. We estimate this investment to be around £10,000.

We have benefited from a review of our marketing offering via Devon County Council and Excess Energy in Cornwall. We plan to implement a significant re-launch of the Tree Surfers brand through a new website, linked with social media and a dynamic new digital l marketing strategy for 2015. The investment is approximately £5,000.

Finally, we have a number of fantastic opportunities to expand the business to attract more visitors. Our main investment is in a junior course suited to 4-10 year olds who presently are not allowed on our main course. This opens up a number of market sectors. Firstly the family market, those who we presently miss due to the ages of children, will be interested to come. A children’s course will be safe to run, low height and on a continuous belay with parents’/carers able to walk around with them.

We presently get a lot of secondary school visits ,the junior course can be marketed to primary schools further developing the market place. The total cost of installing the course is £9,500 but the income generation is approximately £14,200 in year one based on fairly prudent estimates not including new primary schools.

Our future ideas include the installation of a huge zip wire (longest in England and competing with the current longest in the UK) so that you can travel across Tamar Valley. We are exploring franchising the Tree Surfers branding and style to local and national organisations to run on site (we have already had strong interest from the National Trust in the South West)

We intend to offer the café operation on a concession basis to a third party and set someone up with the ability to run their own business during 2015-2017. Whilst we may see a dip in turnover we will not see a dip in profitability/return to the company.

The total investment is therefore £35,000 over five years. We intend to work closely with our professional advisers to set a strategy for future investment too so that funds are recycled into long term projects; if successful we hope to be back for the Zip wire funding though, a great opportunity for the company, the area and the county.

Why consider investing?

Firstly we have a huge amount of passion for this business, the skills to make it work and a lot of opportunities opening up ahead of us with local partners. We have a fantastic brand in Tree Surfers which with investment we can make more of; we have an incredible venue with amazing natural assets which we can further develop and we have the support of key economic and land management agencies locally.

We take borrowing very seriously and understand that working with other people’s money gives us a responsibility to deliver a return to them. A reasonable return is good for investors and we acknowledge that this is healthy for us in business.

Security

This loan is to be secured by way of All Assets debenture and 2 Director Guarantees

Whilst the debenture security is there from a comfort point of view, it does pick up the equipment on site valued at £25K in the 2014 balance sheet. The guarantees attach to two properties valued at £280K with outstanding first charges of £220K.

The directors and owners of the business live modestly and have poured all they have financially as well as their passion into the creation and development of this business

DateAmountCapitalInterestReceived
18/03/2015£819.84£402.76£417.08
18/04/2015£819.84£407.56£412.28
18/05/2015£819.84£412.42£407.42
18/06/2015£819.84£417.33£402.51
18/07/2015£819.84£422.30£397.54
18/08/2015£819.84£427.34£392.50
18/09/2015£819.84£432.43£387.41
18/10/2015£819.84£437.58£382.26
18/11/2015£819.84£442.80£377.04
18/12/2015£819.84£448.07£371.77
18/01/2016£819.84£453.41£366.43
18/02/2016£819.84£458.82£361.02
18/03/2016£819.84£464.28£355.56
18/04/2016£819.84£469.82£350.02
18/05/2016£819.84£475.41£344.43
18/06/2016£819.84£481.08£338.76
18/07/2016£819.84£486.81£333.03
18/08/2016£819.84£492.61£327.23
18/09/2016£819.84£498.48£321.36
18/10/2016£819.84£504.42£315.42
18/11/2016£819.84£510.44£309.40
18/12/2016£819.84£516.52£303.32
18/01/2017£819.84£522.67£297.17
18/02/2017£819.84£528.90£290.94
18/03/2017£819.84£535.20£284.64
18/04/2017£819.84£541.58£278.26
18/05/2017£819.84£548.04£271.80
18/06/2017£819.84£554.57£265.27
18/07/2017£819.84£561.18£258.66
18/08/2017£819.84£567.86£251.98
18/09/2017£819.84£574.63£245.21
18/10/2017£819.84£581.48£238.36
18/11/2017£819.84£588.41£231.43
18/12/2017£819.84£595.42£224.42
18/01/2018£819.84£602.51£217.33
18/02/2018£819.84£609.69£210.15
18/03/2018£819.84£616.96£202.88
18/04/2018£819.84£624.31£195.53
18/05/2018£819.84£631.75£188.09
18/06/2018£819.84£639.28£180.56
18/07/2018£819.84£646.90£172.94
18/08/2018£819.84£654.61£165.23
18/09/2018£819.84£662.41£157.43
18/10/2018£819.84£670.30£149.54
18/11/2018£819.84£678.29£141.55
18/12/2018£819.84£686.37£133.47
18/01/2019£819.84£694.55£125.29
18/02/2019£819.84£702.83£117.01
18/03/2019£819.84£711.20£108.64
18/04/2019£819.84£719.68£100.16
18/05/2019£819.84£728.25£91.59
18/06/2019£819.84£736.93£82.91
18/07/2019£819.84£745.71£74.13
18/08/2019£819.84£754.60£65.24
18/09/2019£819.84£763.59£56.25Not Due
18/10/2019£819.84£772.69£47.15Not Due
18/11/2019£819.84£781.90£37.94Not Due
18/12/2019£819.84£791.22£28.62Not Due
18/01/2020£819.84£800.65£19.19Not Due
18/02/2020£819.84£810.19£9.65Not Due
Total:£35,000.00£14,190.40