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Post by p2pironman on Dec 29, 2014 13:19:05 GMT
Could someone explain what is happening with ASSETZ SME CAPITAL LIMITED's credit score (publicly available information)  |
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Dec 29, 2014 13:30:42 GMT
Accounts filed on Saturday 27 December two days ago. I await an explanation from andrewholgate. (Can anyone see those accounts and interpret any trends?) |
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Dec 29, 2014 15:26:34 GMT
Accounts filed on Saturday 27 December two days ago. I await an explanation from andrewholgate. (Can anyone see those accounts and interpret any trends?) @0ldgrumpy The accounts I have just seen (ex Companies House) show the net worth as -£954k is this the same figure I am looking at? They are dated 31/03/14 and would be consistent with the filing date.
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oldgrumpy
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Post by oldgrumpy on Dec 29, 2014 15:46:45 GMT
merlinDon't know. I saw the date on here(edit: nearly three months later than last year; maybe they were close to being late) .....and anyway, "plummeting?? From what to what?"... or was that just rhetorical to distract me from my fruit? Attachments:
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Dec 29, 2014 16:09:17 GMT
Whilst to some people the accounts I viewed showing net worth at -£954 would be horrified, the better informed would see them as something to be expected given that this is in reality, virtually a start-up situation. So nothing to get very excited about in my view. I cannot comment on Credit Rating as I do not have this information to hand at the moment.
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JamesFrance
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Port Grimaud 1974
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Post by JamesFrance on Dec 29, 2014 16:20:31 GMT
The OP joined today, made one post and logged off. Seems like classic troll/spammer to me.
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spockie
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Post by spockie on Dec 29, 2014 16:24:56 GMT
The OP joined today, made one post and logged off. Seems like classic troll/spammer to me. Birthday of Jan 1st too.
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Post by batchoy on Dec 29, 2014 16:37:25 GMT
As far as the service I use goes they have not changed the Credit Rating. The acid ratio has dropped from 0.35 to 0.28 but that is not unexpected in relatively new service company.
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Post by p2pironman on Dec 29, 2014 16:53:57 GMT
The initial image has disappeared from the OP; no trolling intended just asking a question based on public info.  |
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oldgrumpy
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Post by oldgrumpy on Dec 29, 2014 17:12:15 GMT
So, what spooked them after August 5?
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Post by wiseclerk on Dec 29, 2014 17:18:06 GMT
Is this credit score very different from other (p2p lending) startups? After all they are a young company.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Dec 29, 2014 17:22:04 GMT
Is this credit score very different from other (p2p lending) startups? After all they are a young company. I don't think it's the score that makes me look twice, it's the trend.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
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Post by merlin on Dec 29, 2014 17:39:12 GMT
Is this credit score very different from other (p2p lending) startups? After all they are a young company. It is very difficult to make direct comparisons. However the performance of FC is an example of a business getting most things financial right. IIRC FC lost about £500k in the first year, made about £1M the second year and has piled up the cash ever since. Don't forget that the numbers we are looking at are for the year ending 31/3/2014 which is now 9 months back and a heck of a lot has happened in this last year not only for AC but the rest of the P2P world as well.
Looking at current performance is difficult as we have so little to go on apart from pure guess work. Back in March AH was very bullish about the future growth of AC and claimed publically that AC would reach a loan book value of £100M by the end of this year. That figure IMO now looks hopelessly optimistic with loan book value apparently growing at a snails pace. However we do have the yet to be formally announced on here marriage/merger/franchise with IFG. This may signal a change of direction for AC but we will have to wait and see.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Dec 29, 2014 17:42:47 GMT
So, what spooked them after August 5? Could it be the new IT system? Only joking but it is quite clear that some of the old investor sweats have moved off elsewhere! Coincidentally it was about August that we saw the decrease in interest payable on new loans from around 12.5% to close to 10%. This aroused some comment on here as AC advertising was still claiming the higher figure in its advertising. The question that I cannot avoid to ask is, was the higher rate a sprat to catch a mackerel? In other words had AC been subsidising higher rate of return in order to pull in business during the early start up phase?
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Post by bracknellboy on Dec 29, 2014 18:45:09 GMT
When did that director leave ? I believe that is sometimes a trigger for a credit down grading.
Edit: November or there abouts so scrap that thought
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