Funds Raised


Final AER


Loan term


Auction Closed


Trading on Hold
Microloan trading is currently on hold for this loan.

About the Business

Company Name: WISTERIA CARE LIMITED Company Number: 09699200
Business Type: HUMAN HEALTH AND SOCIAL WORK ACTIVITIE Years Trading: More than 10 years
Business Location: Addlestone Drive

About the Risk

Risk rating


Default rate


Bad debt rate


About the Security

Security Offered:

Personal Guarantee - PG from Stephen Wortley

Est. Equity: 446000.00

Personal Guarantee - PG from Siobhan Wortley

Est. Equity: 446000.00

2nd Charge - 2nd priority legal charge over a property

Est. Equity: 170000.00

Risk Indicators Identified:

Low Liquidity
This business has a lower than average ratio of liquid assets to current liabilities

Important Files

Who are we?

Wisteria House is a Care Home under management bought by Stephen and Siobhan Wortley in 2004. It comprises of a care home facility and domiciliary care component.

Siobhan worked in the NHS for 20 years, most recently as a Ward Manager. In 2004 she and Stephen purchased Wisteria House Care Home, a 13 bedroom property built in local hamstone in the small village of Tintinhull near to Yeovil. The Care Home has been consistently profitable over the years and has always had occupancy rates of 90 to 100%.

In 2009, Siobhan started the Domiciliary Care Agency from a shed outside the Care Home. It has now grown to provide care across all of South Somerset, North and central Dorset and parts of Wiltshire. Last year, we became a top tier provider in South Somerset and we also have contracts with Dorset County Council. We are widely respected for the quality of the care we provide.

Read more

Loan Offers

What is the loan for?

The money is to be fed into the cash flow to meet fixed costs. (Salaries, motoring expenses).

To grow the business we need additional cash for cashflow to cover the gap between delivery and payment on our contracts. Although the majority of our work is for local authorities, so payment is very reliable, there is up to a month gap between doing the work and getting paid for it.

The loan will also be used to assist with the initial costs of training and recruiting staff when we expand.

Growth will come in three areas:

1. We want to grow the turnover of the current two offices from £750k to £1m eac by taking on additional staff and work

2. We want to bid successfully for one of the block contracts Dorset are also planning to tender in North Dorset which will offer enhanced rates and guaranteed income streams. One of these contracts is likely to give a guaranteed income of £500k+ p.a.

3. We also want to open a new office in a different part of Dorset. We already have work there but having a local office will allow us to expand this work significantly and also make recruitment easier.

Why consider investing?

The Company provides an humanitarian service, as well as employment for both Carers and Domiciliary Visitors. It is part of the Government's Initiative to keep the elderly in their own Homes. The Care Home can provide respite care where required.

In the last two years the agency has grown in excess of 40% per annum and now, on its own, has a turnover in excess of £1.5m. There are huge opportunities for us to grow further and establish additional branches. However Siobhan believes in sustainable growth and so only takes on additional work when it can be done so profitably whilst maintaining the quality of care. We offer time-specific appointments to clients, we make extensive use of technology and we believe in training our employees and treating them well. We have offices in Shaftesbury and Yeovil. The Yeovil office is an ex-GP Surgery which we purchased with funds from Stephen's pension.

ReBS Disclosure

1. This loan is to a care home. The home has domiciliary and care components and is currently run as a partnership. The partners want to incorporate their organisation. The partnership will be acquired by an existing limited company owned by the partners and the care home will be run as a limited company. The loan will be made to this company. ReBS have received a letter from the company's accountant and an application to the CQC from Wisteria Care Limited confirming the new structure. As a special condition of the loan agreement, we will be mandating the provision of Financial Statements 3 months after taking the loan to evidence the channelling of the revenue through the limited company.

2. The accounts presented for this application are from the partnership. As such, they do not have to conform to the various statutory requirements set out in the Companies Act 2006 and the companies and groups. regulations.

3. An error was discovered in the liabilities column of the 2017 balance sheet. The liabilities total £12,557 more than the total provided on the accounts. The actual total of liabilities is £153,507 rather than the £140,950 figure shown on the accounts. The corrected figure has been used for the financials tab of the listing, however lenders viewing the PDF filed accounts should be aware of this error.

4. The finances tab contains a column titled 'dividends'. As the financial statements refer to a Partnership, dividends are not paid. The figure in this column is instead the income distributed to partners.


This loan is to be secured by Personal Guarantees from both directors and a legal charge over property.

A PG is being provided by both directors - Stephen Wortley and Siobhan Wortley. The Directors have a joint estimated net worth of £446,000 which is derived from their ownership of six properties with a combined estimated value of £975,000 and an estimated equity of £459,237.

In addition to this, a legal charge is being offered over a property owned by . This property has an estimated value of £440,000 and £170,000 estimated equity which will be captured by our charge.

15/08/2019£1,943.02£1,085.47£857.554 days overdue
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15/01/2020£1,943.02£1,154.83£788.19Not Due
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15/07/2020£1,943.02£1,243.94£699.08Not Due
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15/11/2022£1,943.02£1,759.69£183.33Not Due
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15/05/2023£1,943.02£1,895.47£47.55Not Due
15/06/2023£1,943.02£1,919.10£23.92Not Due