AFFORDABLE HOME IMPROVEMENTS LTD
Environmentally conscious and innovative, Affordable Home Improvements offers a wide range of home improvement solutions including recycling old housing installations. OTE for this year was £1.8 to £2 million and their goal is to grow turnover to £3.5 to £4m per annum. With decades of experience, Andrew is now seeking funds for expansion.
We offer excellent work for just over average market prices. Hence affordable excellence.
Affordable Home Improvements is comprised of a team of 25 skilled men with a wide range of expertise. We are innovative and forward thinking, and I'm proud to say we've created our own brand of conservatory solid roof replacement called ‘Ultrawarm roof’ whereby we can beat any competition on thermal efficiency. We can also take old rotten home improvement installations and turn them into items of beauty and function, so our company works towards a sustainable environment by recycling old parts.
Our OTE for this year is £1.8 to £2 million. Our goal is to grow turnover to £3.5 to £4m per annum. Funds are required for the new corporate websites, new branding encompassing signage, uniform, stationary and stock. The money would bring fiscal targets forward by approximately 4 to 6 months and build infrastructure to success very quickly.
The director is providing a personal guarantee, this means if the business fails the director becomes personally liable for the loan. The director is a homeowner, however, this does not necessarily ensure that there are sufficient assets should the loan need to be recovered. On analysis of the 2022 accounts, while the company did experience a decrease in their gross margin, they, however, experienced a substantial increase in turnover. The 2022 accounts also mark a significant increase in the company's retained earnings, highlighting its strong financial health We have calculated a debt-serving capacity of 1.98, which shows the company can afford the loan. The net gearing of the company is at 50%, highlighting the stability of the company. The EBITA for the 2022 accounts was £104,629.
The business advised the only impact of inflation is within the pricing of projects, this is determined by products and material costs. However, the business is constantly monitoring product and material costs. As all lending is at a fixed rate, the business will not immediately be affected by any interest rate increases.
Where will the funds go?
"We offer excellent work for just over average market prices. Hence affordable excellence."