TEN PROPERTY MANAGEMENT LIMITED

PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES

Funds Raised

£32,100.00

Final AER

16.74%

Loan term

60 MONTHS

Auction Closed

2019-04-16

Micro Loan Opportunities
Buy Capital Seller's
Premium
Price Buyer's
Rate
BuyBack
£19.35 +15.00% £22.25 10.46%
£9.67 +15.00% £11.13 10.46%

About the Business

Company Name: TEN PROPERTY MANAGEMENT LIMITED Company Number: 09592602
Business Type: PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES Years Trading: 3-5 years
Business Location: Gloucestershire

About the Risk

Risk rating

B

Default rate

7.10%

Bad debt rate

5.84%

About the Security

Security Offered:

Personal Guarantee - PG from director Sarah Davey

Est. Equity: 451718.00

Risk Indicators Identified:

May not produce Management Accounts
This company may not prepare management accounts on a regular basis
Previous Failed Businesses
One or more of the directors has been involved in a failed business

Important Files

Who are we?

Sarah Davey is the sole director and shareholder of Ten Property Management Limited.

The company provides services to a range of house builders and property owners. Its prime client is Trimac Properties Limited with whom the company has a number of JV arrangements where it undertakes building management programmes for small scale refurbishments for Trimac.

The company was established in 2015 and has three years of profitable performance filed at Companies House.

Read more

Loan Offers

What is the loan for?

The company seeks £30K plus fees to enable it to cashflow a refurbishment project. Whilst the loan could be repaid in fairly short order, the intention is to recycle the funds into future projects of a similar nature, thus the requested 60 month term.

The last 3 years’ accounts can be summarised as follows:

Year 2018 2017 2016
T/O £1.465m £1.265m £1.043m
GP £123K   £124K    £56K
NPBT £74K  £63K  £24K
NCA £6K         £1K £19K
NW £7K   £3K £19K

Why consider investing?

A personal guarantee is offered by Sarah Davey.

She has a property portfolio, owned in part jointly with her husband. The property portfolio is valued at £2.335m with mortgage debt of £1.39m

Disclosure

The director has agreed to subordinate the existing Director's Loan balance behind the rebuildingsociety loan. Upon completion, an extra clause will be inserted into the loan agreement stipulating that no repayments will be made to the outstanding director's loan until the ReBS loan is fully repaid.

Security

This loan will be secured by way of a Personal Guarantee from the sole director, Ms Sarah Davey. Ms Davey has a personal estimated net worth of £451,718.

This is derived from her ownership of 8 properties, her domestic residence and 7 investment properties. Her domestic residence has an estimated value of £800,000 and £500,000 estimated equity. The investment properties have a combined estimated value of £1.5m and £400,000 combined estimated equity. Five of the eight properties are owned jointly with her partner. After adjusting to account for the joint ownership, a personal estimated net worth of £451,718 is arrived at.

DateAmountCapitalInterestReceived
20/05/2019£793.35£345.46£447.89
20/06/2019£793.35£350.28£443.07
20/07/2019£793.35£355.17£438.18
20/08/2019£793.35£360.12£433.23Not Due
20/09/2019£793.35£365.15£428.20Not Due
20/10/2019£793.35£370.24£423.11Not Due
20/11/2019£793.35£375.41£417.94Not Due
20/12/2019£793.35£380.64£412.71Not Due
20/01/2020£793.35£385.96£407.39Not Due
20/02/2020£793.35£391.34£402.01Not Due
20/03/2020£793.35£396.80£396.55Not Due
20/04/2020£793.35£402.34£391.01Not Due
20/05/2020£793.35£407.95£385.40Not Due
20/06/2020£793.35£413.64£379.71Not Due
20/07/2020£793.35£419.42£373.93Not Due
20/08/2020£793.35£425.27£368.08Not Due
20/09/2020£793.35£431.20£362.15Not Due
20/10/2020£793.35£437.22£356.13Not Due
20/11/2020£793.35£443.32£350.03Not Due
20/12/2020£793.35£449.50£343.85Not Due
20/01/2021£793.35£455.78£337.57Not Due
20/02/2021£793.35£462.14£331.21Not Due
20/03/2021£793.35£468.58£324.77Not Due
20/04/2021£793.35£475.12£318.23Not Due
20/05/2021£793.35£481.75£311.60Not Due
20/06/2021£793.35£488.47£304.88Not Due
20/07/2021£793.35£495.29£298.06Not Due
20/08/2021£793.35£502.20£291.15Not Due
20/09/2021£793.35£509.21£284.14Not Due
20/10/2021£793.35£516.31£277.04Not Due
20/11/2021£793.35£523.52£269.83Not Due
20/12/2021£793.35£530.82£262.53Not Due
20/01/2022£793.35£538.23£255.12Not Due
20/02/2022£793.35£545.74£247.61Not Due
20/03/2022£793.35£553.35£240.00Not Due
20/04/2022£793.35£561.07£232.28Not Due
20/05/2022£793.35£568.90£224.45Not Due
20/06/2022£793.35£576.84£216.51Not Due
20/07/2022£793.35£584.89£208.46Not Due
20/08/2022£793.35£593.05£200.30Not Due
20/09/2022£793.35£601.32£192.03Not Due
20/10/2022£793.35£609.71£183.64Not Due
20/11/2022£793.35£618.22£175.13Not Due
20/12/2022£793.35£626.85£166.50Not Due
20/01/2023£793.35£635.59£157.76Not Due
20/02/2023£793.35£644.46£148.89Not Due
20/03/2023£793.35£653.45£139.90Not Due
20/04/2023£793.35£662.57£130.78Not Due
20/05/2023£793.35£671.82£121.53Not Due
20/06/2023£793.35£681.19£112.16Not Due
20/07/2023£793.35£690.69£102.66Not Due
20/08/2023£793.35£700.33£93.02Not Due
20/09/2023£793.35£710.10£83.25Not Due
20/10/2023£793.35£720.01£73.34Not Due
20/11/2023£793.35£730.06£63.29Not Due
20/12/2023£793.35£740.24£53.11Not Due
20/01/2024£793.35£750.57£42.78Not Due
20/02/2024£793.35£761.05£32.30Not Due
20/03/2024£793.35£771.66£21.69Not Due
20/04/2024£793.35£782.43£10.92Not Due
Total:£32,100.01£15,500.99