Verve Accounting Ltd

Accountancy

Funds raised

£60,000.00

Final AER

17.19%

Loan term

60 MONTHS

Deadline

2015-08-11

Micro Loan Opportunities
Buy Capital Seller's
Premium
Price Buyer's
Rate
BuyBack

About the Business

Company Name: Verve Accounting Ltd Company Number: 07910314
Business Type: Accountancy Years Trading: 6-10 years
Business Location: Southampton

About the Risk

Risk rating

C

Default rate

14.10%

Bad debt rate

5.04%

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?

Visit Our Website

Verve Accounting is a rapidly expanding accountancy practice in Southampton. The business is very proactive and offers a range of services. There is a very loyal client base and so far this year 46 new clients have been taken on through word of mouth recommendations. The practice has very experienced staff who offer bespoke support to a diverse client base.

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Loan Offers

What is the loan for?

Recently Verve Accounting acquired another accountancy practice. This added 330 new clients and there is good synergy with opportunity of providing additional services to these new clients.

The new loan is to assist with the purchase of the new practice and provide funds for extra working capital. The additional work in progress has to be funded and there will be expenditure on new IT equipment and software upgrades.

Why consider investing?

This is a very sound accountancy practice. Since its inception there has been year on year growth . The acquisition will make the business more profitable. There is minimal debt.

Notes

Due to a change in accounting policy, goodwill is written off over 15 years from 1 July 2013 but was written off over 10 years prior to that date.

Security

The loan is to be secured on a directors guarantee and an all assets debenture

The Director has an estimate net worth of £208k. This is through co ownership of a property with an estimate value of £850k and approximate equity of £177k (directors share of equity) and a further property owned solely by the director with an estimate value of £135k and approximate equity of £31k.

DateAmountCapitalInterestReceived
11/09/2015£1,497.29£637.79£859.50
11/10/2015£1,497.29£646.93£850.36
11/11/2015£1,497.29£656.19£841.10
11/12/2015£1,497.29£665.59£831.70
11/01/2016£1,497.29£675.13£822.16
11/02/2016£1,497.29£684.80£812.49
11/03/2016£1,497.29£694.61£802.68
11/04/2016£1,497.29£704.56£792.73
11/05/2016£1,497.29£714.65£782.64
11/06/2016£1,497.29£724.89£772.40
11/07/2016£1,497.29£735.27£762.02
11/08/2016£1,497.29£745.81£751.48
11/09/2016£1,497.29£756.49£740.80
11/10/2016£1,497.29£767.33£729.96
11/11/2016£1,497.29£778.32£718.97
11/12/2016£1,497.29£789.47£707.82
11/01/2017£1,497.29£800.78£696.51
11/02/2017£1,497.29£812.25£685.04
11/03/2017£1,497.29£823.89£673.40
11/04/2017£1,497.29£835.69£661.60
11/05/2017£1,497.29£847.66£649.63
11/06/2017£1,497.29£859.80£637.49
11/07/2017£1,497.29£872.12£625.17
11/08/2017£1,497.29£884.61£612.68
11/09/2017£1,497.29£897.28£600.01
11/10/2017£1,497.29£910.14£587.15
11/11/2017£1,497.29£923.17£574.12
11/12/2017£1,497.29£936.40£560.89
11/01/2018£1,497.29£949.81£547.48
11/02/2018£1,497.29£963.42£533.87
11/03/2018£1,497.29£977.22£520.07
11/04/2018£1,497.29£991.22£506.07
11/05/2018£1,497.29£1,005.42£491.87
11/06/2018£1,497.29£1,019.82£477.47
11/07/2018£1,497.29£1,034.43£462.86
11/08/2018£1,497.29£1,049.25£448.04
11/09/2018£1,497.29£1,064.28£433.01
11/10/2018£1,497.29£1,079.52£417.77
11/11/2018£1,497.29£1,094.99£402.30
11/12/2018£1,497.29£1,110.67£386.62
11/01/2019£1,497.29£1,126.58£370.71
11/02/2019£1,497.29£1,142.72£354.57
11/03/2019£1,497.29£1,159.09£338.20
11/04/2019£1,497.29£1,175.70£321.59
11/05/2019£1,497.29£1,192.54£304.75
11/06/2019£1,497.29£1,209.62£287.67
11/07/2019£1,497.29£1,226.95£270.34
11/08/2019£1,497.29£1,244.52£252.77Not Due
11/09/2019£1,497.29£1,262.35£234.94Not Due
11/10/2019£1,497.29£1,280.44£216.85Not Due
11/11/2019£1,497.29£1,298.78£198.51Not Due
11/12/2019£1,497.29£1,317.38£179.91Not Due
11/01/2020£1,497.29£1,336.25£161.04Not Due
11/02/2020£1,497.29£1,355.40£141.89Not Due
11/03/2020£1,497.29£1,374.81£122.48Not Due
11/04/2020£1,497.29£1,394.51£102.78Not Due
11/05/2020£1,497.29£1,414.48£82.81Not Due
11/06/2020£1,497.29£1,434.75£62.54Not Due
11/07/2020£1,497.29£1,455.30£41.99Not Due
11/08/2020£1,497.29£1,476.15£21.14Not Due
Total:£59,999.99£29,837.41