blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Sept 5, 2015 7:30:35 GMT
A sodding great mortgage or the land is owned by someone else - he might be a tenant farmer. MW One would expect that the former to show up has a hefty entry in fixed assets and a corresponding hefty entry in long term liabilities; the latter is contradicted by the statement that he owns the land. I agree. There is additional rented land. This is a family farm and you rather wonder whether the person (not a company) who takes the loan actually owns the claimed acres personally. No asset security and no visibility of why this is A+.
|
|
|
|
Post by mostlywrong on Sept 5, 2015 20:01:00 GMT
One would expect that the former to show up has a hefty entry in fixed assets and a corresponding hefty entry in long term liabilities; the latter is contradicted by the statement that he owns the land. I agree. There is additional rented land. This is a family farm and you rather wonder whether the person (not a company) who takes the loan actually owns the claimed acres personally. No asset security and no visibility of why this is A+. I can only think that the land is owned by a company or, more likely, a trust controlled by the farmer. If he/she is the beneficiary, I don't think he needs to declare it anywhere else. If the trading company went bust after a series of poor harvests, the company holding the land would survive but would no longer have the rent paid by the trading company. MW
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Sept 5, 2015 22:58:26 GMT
A family trust perhaps. There is no trading (incorporated) company, but I agree that the land is probably kept safe from potential creditors.
|
|
|
|
Post by mostlywrong on Sept 7, 2015 9:19:43 GMT
A family trust perhaps. There is no trading (incorporated) company, but I agree that the land is probably kept safe from potential creditors. I recently noticed, in a recent Western Daily Press advertisement, a very nice Georgian house in a couple of hundred acres in Wiltshire. The ad specifically mentioned that the house was surrounded by the land which was leased to a separate farming company and the arrangement could continue, subject to contract. So, you buy the house and land, negotiate a 5-10 year contract with the incumbent farmer, watch the crops being harvested and wait for the money to roll in on the quarterly Rent Days, risk-free. In the meantime, the farmer joins FC and asks for £250k because he now has a 5 year contract under his belt, albeit risky, (to add to his other activities). MW (who really fancies a nice Georgian pile in the middle of the Wiltshire countryside especially if the land was generating a return above that of FC...)
|
|
|
|
Post by nickthefool on Sept 8, 2015 14:47:54 GMT
15572E is live, and not immediately sold out. Won't last long though.
|
|
|
|
Post by goldservice on Sept 9, 2015 15:12:01 GMT
15616E just opened - £78k
|
|
fasty
Member of DD Central
Posts: 1,038 
Likes: 388
|
Post by fasty on Sept 9, 2015 15:30:13 GMT
15616E just opened - £78k It really annoys me when they don't even bother saying why they want the money. (or did I miss something?)
|
|
|
|
Post by GSV3MIaC on Sept 9, 2015 15:36:43 GMT
Coz you've got it and they haven't (yet).
See, this is the sort of daft request that Fairish Consequences are trying to avoid by going to fully automated fixed rate 'auctions'.
|
|
grahamg
Member of DD Central
Posts: 220
Likes: 62
|
Post by grahamg on Sept 9, 2015 15:42:14 GMT
Have a look at 15606 A+
Innocent look accountants with 500K turnover, but they owe nearly 470K as far a i can see and have stupid levels if intangible assets. Bu they get an A+ rating , should be an "E"
|
|
grahamg
Member of DD Central
Posts: 220
Likes: 62
|
Post by grahamg on Sept 9, 2015 15:55:05 GMT
15616E just opened - £78k It really annoys me when they don't even bother saying why they want the money. (or did I miss something?)
It is annoying because it looks a nice company, why an E rating i don't understand
|
|
am
Posts: 1,495
Likes: 601
|
Post by am on Sept 9, 2015 20:13:01 GMT
It really annoys me when they don't even bother saying why they want the money. (or did I miss something?)
It is annoying because it looks a nice company, why an E rating i don't understand In the Q&A is was stated that the money is to buy more scaffolding. Good credit rating, profitable, not highly geared (before taking up this loan); indeed, why does it have an E rating?
|
|
registerme
Member of DD Central
Posts: 6,624
Likes: 6,437
|
Post by registerme on Sept 9, 2015 21:06:49 GMT
So I haven't put a bid in on this, and am not an expert, by any stretch of the imagination, but..... I have spent the last year involved in setting up a "Right To Manage" company. Part of which has involved scutinising bills.
Scaffolding companies make their money by having scaffolding out, and up. The end.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Sept 10, 2015 7:45:59 GMT
So I haven't put a bid in on this, and am not an expert, by any stretch of the imagination, but..... I have spent the last year involved in setting up a "Right To Manage" company. Part of which has involved scutinising bills. Scaffolding companies make their money by having scaffolding out, and up. The end. True. And they try not to take it down until the scaffolding can be taken directly to another job - you try getting them to take it away. But nice to know that the asset will be scaffolding rather than some diversification project. It looked good and I bid on it. But that probably means they will get a better offer and the money will be tied up for a couple of weeks. We shall see.
|
|
|
|
Post by GSV3MIaC on Sept 10, 2015 8:07:35 GMT
A couple of years (or more) ago there was, IIRC, a rush of scaffolding companies arriving at Friendly Chums . I guess they must have talked to one another, or maybe seen it in a trade magazine. Of course, back then, they were all Bs or Cs, or maybe A+s. 8>.
|
|
|
|
Post by mostlywrong on Sept 10, 2015 11:32:41 GMT
A couple of years (or more) ago there was, IIRC, a rush of scaffolding companies arriving at Friendly Chums . I guess they must have talked to one another, or maybe seen it in a trade magazine. Of course, back then, they were all Bs or Cs, or maybe A+s. 8>. And then there was the rush of Subway franchises... I don't think that any of the scaffolding companies in which I invested have failed, so far, but at least one of the Subway franchises bit the dust. MW
|
|
