No-Fli is one of the leading global producers of fly-control products. Their flagship product is their eponymous No-Fly system, available in both standard and large sizes. They are committed to ensuring that commercial environments, primarily culinary environments, are kept clear of flying insects and untainted by the traditional fly zapper. Their running costs and power draw are low, emphasising their commitment to being environmentally friendly, hygienic, and cost-effect.
“Zap Zappers.” There’s no place for unhygienic, imported zappers in the hospitality sector anymore.
We manufacture all of our No-Fli units in Harrowgate, in North Yorkshire. These units are built to be relatively aesthetically pleasing but also unobtrusive, so that they do not interfere with the look of the environment that they are placed in. Their design was also focused on ease of service, allowing our clients to keep using our product and services. We both manufacture and supply the units, ensuring there are no middle-men artificially inflating the price of our services. We pride ourselves on being a cost-effective and economical business, especially in the face of the current cost-of-living crisis.
Our main focus ultimately is on hygiene. We understand that traditional imported bug zappers are extremely unhygienic, and are known to cause contamination within a not unremarkable radius around the device. We want to make sure that the hospitality sector is as hygienic as possible, and able to thrive under the freshly hygiene-conscious world that has developed post-Covid. Our products are based on Ultraviolet light and glue boards, both of which are easy to maintain. As we have mentioned, we provide the maintenance ourselves for a small monthly fee. This guarantees revenue, and encourages long-term relationships with clients.
The directors Christopher Lee and Neil Styri are providing a personal guarantee, which means should the business fail and have insufficient assets within the business to repay the loan, we can look to the guarantor(s) to repay any shortfall on repayment. There have been no CCJs for the business or director. The Equifax score and grade, on which we base our assessment of risk, are based on the 2022 accounts. The 2023 management accounts reflect a decent growth in the company's pre-tax profit by £20,000, underscoring its robust stability. Our assessment indicates a debt-serving capacity above 2, affirming the company's ability to manage the loan. The EBITDA was modest at c. £50k, however, we have calculated a positive net gearing which would make the loan affordable. The bank statements demonstrate reasonable affordability, and the accounts remain well in credit.
The business advised they have gone through high inflation in recent times without increasing their prices. Although their cost prices have gone up, they have managed to keep the sale price the same. The director does not expect to draw money from the business as the company is compromised to keep providing its high-quality products.
Where will the funds go?
"“Zap Zappers.” There’s no place for unhygienic, imported zappers in the hospitality sector anymore."