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Post by fisherman on Aug 2, 2018 14:46:38 GMT
Well done Ablrate. No problem whatsoever.
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nw99
Posts: 340 
Likes: 114
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Post by nw99 on Aug 2, 2018 14:55:00 GMT
Well done Ablrate. No problem whatsoever. Brilliant job Albrate
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Post by ablrate on Aug 2, 2018 15:23:13 GMT
It's Yorkshire Day... we had to get it right.... Thanks for your bids....and your patience with the issues..
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elliotn
Member of DD Central
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Post by elliotn on Aug 3, 2018 10:46:51 GMT
Hi sapphire - the terms and monitoring have not changed ..... sapphire - the cars are stock and the facilty for holding the cars is extended for 90 days but typically the stock turns over every 5 weeks, so the assets are not held long period of time where depreciation would be a factor. ...... Many thanks for your prompt response. The Balance Sheet as at 30 Jun 2018, shows the total value of the debtors (£3.465m) as Current Assets (but no stock). So is this (Debtors) the value of the underlying security for the various tranches to date? If so, the total value of the 6 tranches to date (£2.545m) is 73.4% of the value of the debtors i.e. exceeding the 70% LTV limit. Am I missing something? Shouldn't the value of the assets underpinning the loans to date be fully reflected in the balance sheet? Nice calc - one thing to bear in mind is that this is a rolling facility to the underlying dealerships, the full facility isn’t necessarily drawn down at anyone time (in fact unlikely given that 100+ dealerships presumably have daily sales), happy for abl to clarify.
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elliotn
Member of DD Central
Posts: 3,063
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Post by elliotn on Aug 3, 2018 10:49:05 GMT
Hi .... westcountry - these are provisions for bad debts, not crystalised write offs. I agree this should be clarified.. will sort.. thank you. .... The P&L account for 6 months ended 30 Jun 2018 shows "Bad Debt" of £88.6K **in addition** to 'Provision for Doubtful Debts B/S" of £92K. I can understand that "Provision" is not crystalised but isn't an explicit entry for "Bad Debt" used to denote crystallised write-offs? Not necessarily, any movement in the estimate of the bad debt provision would be washed through the P&L, whether crystallised or not ie an increase from 3.4k to 96k would result in 88.6k expense (note - for example only, I have not checked these provisions).
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Post by westcountry on Aug 3, 2018 14:16:36 GMT
ablrate The P&L account for 6 months ended 30 Jun 2018 shows "Bad Debt" of £88.6K **in addition** to 'Provision for Doubtful Debts B/S" of £92K. I can understand that "Provision" is not crystalised but isn't an explicit entry for "Bad Debt" used to denote crystallised write-offs? Not necessarily, any movement in the estimate of the bad debt provision would be washed through the P&L, whether crystallised or not ie an increase from 3.4k to 96k would result in 88.6k expense (note - for example only, I have not checked these provisions). , you're right that any increase/decrease in the provision for bad debts would go through the P&L account. But in the A**1 P&L a/c for the 6 months ended 30th June 18, there is both 1) under the sub-heading "Provisions" an expense of £92k for "Provison for Doubtful Debts", AND under the sub-heading "Operating Expenses" a second expense of £88.6k for "Bad Debt". My understanding of this (as someone who's done a fair amount of bookkeeping/accountancy) is that the £92k is an increase in the Provision for bad debts, but the £88.6k is actual bad debts which the company has incurred. ablrate , please would you be able to check with A**, as to how this squares with their statements of no bad debts (I paraphrase) in the borrowing proposal?
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Post by oktaeder on Feb 21, 2019 18:12:12 GMT
What have I missed going wrong with this loans?
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hazellend
Member of DD Central
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Post by hazellend on Feb 21, 2019 21:24:37 GMT
What have I missed going wrong with this loans? Nothing?
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nw99
Posts: 340
Likes: 114
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Post by nw99 on Feb 21, 2019 22:20:18 GMT
Nothing wrong
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blender
Member of DD Central
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Post by blender on Feb 21, 2019 23:06:50 GMT
Just supply and demand on the SM, I think. About half of 114 was left with underwriters, by choice, and underwriters need to churn their cash. It is made worse by all these loans being interest only, so that the total of lender cash required does not reduce. Another reason to grow the platform.
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Post by fatbritabroad on Mar 4, 2019 8:41:18 GMT
May have spoken too soon
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hazellend
Member of DD Central
Posts: 2,361
Likes: 2,179
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Post by hazellend on Mar 4, 2019 10:13:34 GMT
I assumed the discount was due to poor sentiment regarding the U.K. new car sales
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des
Posts: 119
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Post by des on Mar 4, 2019 10:16:01 GMT
ablrateWas the payment for this loan not received on time?
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Post by fatbritabroad on Mar 4, 2019 10:45:38 GMT
All sorted
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