merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Dec 26, 2015 23:52:15 GMT
Assetz SME Capital Ltd headline numbers make interesting reading. Net Worth £-954k. Assets £368.7k. Liabilities £1.3m. Cash of £1.5k. Also of interest is the significant number of Charges registered against the company.
Certainly worth a look and particularly so if you invested in the business earlier this year through Seeders.
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Post by bracknellboy on Dec 27, 2015 9:27:51 GMT
Interesting time to make such a post - over the xmas period when senior AC staff are known to be taking a break and thererfore an informed inside response from the company is unlikely to be forthcoming, or might force AC to take a break from their break.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
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Post by merlin on Dec 27, 2015 10:48:18 GMT
Interesting time to make such a post - over the xmas period when senior AC staff are known to be taking a break and thererfore an informed inside response from the company is unlikely to be forthcoming, or might force AC to take a break from their break. By lodging them when they did perhaps AC management were hoping that we would not notice them over the Christmas period!
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am
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Post by am on Dec 27, 2015 12:00:21 GMT
Assetz SME Capital Ltd headline numbers make interesting reading. Net Worth £-954k. Assets £368.7k. Liabilities £1.3m. Cash of £1.5k. Also of interest is the significant number of Charges registered against the company.
Certainly worth a look and particularly so if you invested in the business earlier this year through Seeders. Those appear to be the 31/3/2014 figures, except that most (not all) data sources, including Companies House, give the Net Worth as £-786k. The 2015 figures are net worth £-2.75m, intangibles £380k, tangibles £26k, current assets £1.2, including cash of £95k, current liabilities of £1.8m, and long term liabilities of £2.5m. So Assetz SME Capital had a burn rate of £2m per annum. beta.companieshouse.gov.uk/company/08007287Anyone interested should presumably also look at the other companies in the group.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
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Post by merlin on Dec 27, 2015 13:24:02 GMT
am Thanks for the correction. Even more interesting. I was sent the details by a company search outfit that provides me with regular updates. Looks like they screwed-up and sent me last years documents.
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mikes1531
Member of DD Central
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Post by mikes1531 on Jan 5, 2016 21:33:53 GMT
Assetz SME Capital Ltd headline numbers make interesting reading. Net Worth £-954k. Assets £368.7k. Liabilities £1.3m. Cash of £1.5k. Also of interest is the significant number of Charges registered against the company.
Certainly worth a look and particularly so if you invested in the business earlier this year through Seeders. Those appear to be the 31/3/2014 figures, except that most (not all) data sources, including Companies House, give the Net Worth as £-786k. The 2015 figures are net worth £-2.75m, intangibles £380k, tangibles £26k, current assets £1.2, including cash of £95k, current liabilities of £1.8m, and long term liabilities of £2.5m. So Assetz SME Capital had a burn rate of £2m per annum. beta.companieshouse.gov.uk/company/08007287Anyone interested should presumably also look at the other companies in the group. I can see how the burn rate could be £2M/year based on the £2M decrease in AC's net worth. But how is that calculation affected by the £3M raised during 2015 via Seedrs? Does that mean the burn rate is really more like £5M/year? If so, AC need to get the institutional part of their fundraising organised in a hurry.
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am
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Post by am on Jan 5, 2016 21:49:06 GMT
Those appear to be the 31/3/2014 figures, except that most (not all) data sources, including Companies House, give the Net Worth as £-786k. The 2015 figures are net worth £-2.75m, intangibles £380k, tangibles £26k, current assets £1.2, including cash of £95k, current liabilities of £1.8m, and long term liabilities of £2.5m. So Assetz SME Capital had a burn rate of £2m per annum. beta.companieshouse.gov.uk/company/08007287Anyone interested should presumably also look at the other companies in the group. I can see how the burn rate could be £2M/year based on the £2M decrease in AC's net worth. But how is that calculation affected by the £3M raised during 2015 via Seedrs? Does that mean the burn rate is really more like £5M/year? If so, AC need to get the institutional part of their fundraising organised in a hurry. When I wrote the above I had satisfied myself that the Seedrs funding post-dated the 31/3/2015 annual report, and the burn rate is £2m, not £5m.
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mikes1531
Member of DD Central
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Post by mikes1531 on Jan 5, 2016 22:03:18 GMT
I can see how the burn rate could be £2M/year based on the £2M decrease in AC's net worth. But how is that calculation affected by the £3M raised during 2015 via Seedrs? Does that mean the burn rate is really more like £5M/year? If so, AC need to get the institutional part of their fundraising organised in a hurry. When I wrote the above I had satisfied myself that the Seedrs funding post-dated the 31/3/2015 annual report, and the burn rate is £2m, not £5m. OK. But where has the £3M gone? IIRC, Seedrs have said they're no longer holding it and that it has gone to AC.
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am
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Post by am on Jan 6, 2016 11:39:22 GMT
When I wrote the above I had satisfied myself that the Seedrs funding post-dated the 31/3/2015 annual report, and the burn rate is £2m, not £5m. OK. But where has the £3M gone? IIRC, Seedrs have said they're no longer holding it and that it has gone to AC. The annual report is for the 12 months to the 31st March 2015. Since the funding from Seedrs was after than date it is not reflected in that annual report. The £3m has gone onto AC's books. AC's current NAV would be £3m - £2.7m + (profits for the 9 months to 31st December 2015).
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Jan 6, 2016 14:23:03 GMT
OK. But where has the £3M gone? IIRC, Seedrs have said they're no longer holding it and that it has gone to AC. The annual report is for the 12 months to the 31st March 2015. Since the funding from Seedrs was after than date it is not reflected in that annual report. The £3m has gone onto AC's books. AC's current NAV would be £3m - £2.7m + (profits for the 9 months to 31st December 2015). I asked tat question on the Seedrs web site and Assets confirmed that they had taken up the cash and were "using it".
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markb
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Post by markb on Jan 6, 2016 17:30:12 GMT
How do I view your question on the Seedrs web site? The most recent Q&A entries that I can see are from just before their funding round closed, 9 months ago.
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Post by andrewholgate on Jan 7, 2016 13:33:26 GMT
Indeed, I was taking a long overdue holiday with my family where I was banned from doing any work for two weeks.
Seedrs investors will get regular updates. As it stands, I have no concerns on the viability of AC and we continue to push towards consistent profitability. 2015 was a transitionary year from stretched start up to a more balanced business, which means spending cash to resource the business, hence the equity raise.
Beyond that, no further comments to be made.
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jjc
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Post by jjc on Aug 30, 2016 20:43:27 GMT
A number of recent filings made at Companies House for Assetz Capital Ltd (varying the rights to different classes of shares mostly it seems). Haven’t delved but may be a sign something happening on the equity convertible (or perhaps management shareholders’ remuneration scheme)?
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Post by andrewholgate on Aug 31, 2016 8:46:35 GMT
Not quite. When the capital structure was changed with the Seedrs round, the relevant information should have been filed at Companies House. This is just catching up on that.
I can assure any investors in the Seedrs round that nothing has changed and we continue to work towards a conversion event for you.
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Post by pepperpot on Aug 31, 2016 9:40:21 GMT
Not quite. When the capital structure was changed with the Seedrs round, the relevant information should have been filed at Companies House. This is just catching up on that. I can assure any investors in the Seedrs round that nothing has changed and we continue to work towards a conversion event for you. No rush, any time from June onwards next year is fine.  
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