TAMAR LABOUR AGENCY LTD
Tamar Labour Agency is an agricultural temporary & seasonal staffing agency based in Saltash, Cornwall. They serve the myriad agricultural businesses across Cornwall and Devon, providing workers to both farming and poultry processing businesses as well as others. Tamar has been in operation for over 20 years, and takes care to match up the right staff with the right business. They mostly assist in hiring for unadvertised jobs, with as much as 80% of their potential jobs being unadvertised.
To provide staffing solutions to Britain’s oldest industry.
With a focus on the agricultural sector, our agency has developed a deep understanding of the industry's dynamics, challenges, and evolving trends. We stay abreast of technological advancements and industry changes to provide our clients with the most relevant and skilled workforce. Agriculture is still relevant to Cornwall, but it is a huge sector in Devon. As a result, it is extremely important for both counties to have a reliable supply of temporary and seasonal staff to assist agricultural businesses during the Spring and Autumn. We understand that each agricultural business has its distinct requirements. Our team works closely with clients to develop personalised recruitment strategies, ensuring a perfect match between employers and candidates.
Our success is rooted in a comprehensive understanding of the unique challenges faced by the agricultural industry, as well as our commitment to delivering tailored recruitment solutions. As we mentioned earlier, we’ve been in business for over 20 years. We’re a robust business, and we enjoy a reliable and broad client base to ensure we will continue to endure in support of agriculture in South-West England. We are excited to bring you this opportunity to invest.
The directors Richard Rowan and Lyubomir Rangelov are providing a personal guarantee, which means should the business fail, and there are 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 directors. Our credit assessment relies on the Equifax score and financial indicators, both derived from the 2022 accounts. The 12-month management accounts indicate that the company's Debt Servicing Capacity exceeds 1, indicating ample cash generation to cover principal and interest on new commitments. The company's net gearing stands at 28%, underscoring its stability. In the 2023 accounts, the EBITDA amounts to £180,587. Bank statements reveal reasonable affordability, and the accounts maintain a healthy credit balance.
The business said they have not been affected by higher input costs yet. As the majority of lending to the business is at a fixed rate, they will not be immediately affected by interest rate increases. Despite increasing living costs, the directors of Tamar Labour Agency do not expect to draw money from the business as all capital is vital to settle existing debt.
Where will the funds go?
"To provide staffing solutions to Britain’s oldest industry."