NC 1042 · Brindlemoor Joinery Ltd · Business finance (unsecured business loan)
Executive summary What is sought, and what supports the case?
The business current account statements for April to September 2026 reconcile for every month, and no returned or unpaid payments appear in them. Customer receipts averaged £61,039 a month, and after trading costs, director pay and existing finance repayments the business retained about £2,646 a month. Both directors signed their client declarations on 26 October 2026, and the accountants' letter confirms their income.
Brindlemoor Joinery Ltd is a bespoke kitchens, joinery and commercial fit out business trading from a trade park unit in the South West. It has traded for six years, since 2020. Turnover for the year to 31 March 2026 was £614,800, against £552,700 for the year before. Its two directors, Dan Mercer (managing director, 60%) and Emma Hale (operations director, 40%), both give personal guarantees.
The ask is an unsecured term loan of £65,000 over 36 months to buy a five axis CNC router and dust extraction, with no property security. The business already has an asset finance agreement at £455 a month, and a term loan of £30,000 taken in November 2024 for working capital, with roughly £18,500 still outstanding at £920 a month. Total existing repayments are £1,375 a month. The bank credits include VAT at 20%, which explains the gap against the declared turnover.
The company credit report scores the business as low risk (68 out of 100), with no county court judgments, filings up to date, and directors and shareholdings that match the application. Its one registered charge, from November 2024, lines up with the term loan.
Annualised trading receipts of £732,466 support the £65,000 sought at 8.9% loan to annualised receipts, with £2,646 a month retained on average after all outgoings and existing repayments.
01Case details
The business
Brindlemoor Joinery Ltd
Bespoke kitchens, joinery and commercial fit out. Limited company, 6 years trading, VAT registered. Credit report: low risk, 68.
The people
Dan Mercer · 60%
Emma Hale · 40%
Managing director and lead contact; operations director. Both personal guarantors, both match the company register.
Facility sought
£65,000 unsecured term loan
36 months, to buy a five axis CNC router and dust extraction. No property security and no refinance.
02Checks completed against the evidence
03Points raised with the broker before this summary
| Point | What the evidence showed | The broker's answer |
|---|---|---|
| Borrowing not mentioned at the start | A £920 term loan repayment in each of the six months, also shown as a charge on the credit report. | £30,000 term loan, November 2024, over 36 months. Proceed. |
| Repayments against the figure stated | £1,375 a month in the statements, against £455 stated at intake. | £1,375 a month is right. Proceed. |
| Turnover against bank credits | Customer credits 19.1% above the half year equivalent of the declared turnover. | VAT registered, so credits include VAT at 20%. Proceed. |
All three points were settled in one reply from the broker. The working behind these headlines is on page 2.
ATurnover and affordability, from the evidence
£65,000 against £732,466 of annualised trading receipts is 8.9% loan to annualised receipts. The figures below come from the evidence, not from what was declared.
Typical monthly turnover · credits
£61,039 average
Monthly true receipts range from £60,015 (September 2026) to £61,740 (July 2026), and each statement month reconciles to its printed totals.
Net retained · monthly average
£2,646 / month
Average monthly true receipts of £61,039 less average monthly true debits of £58,393 across the six full months. There were no transfers between the business's own accounts to remove. Owner salaries and dividends (£37,570 over the period) remain in outgoings.
Monthly outgoings · categorised from the statements
BTurnover seen in the bank accounts
| Source | Said at the start | Evidenced | Seen a month | Notes |
|---|---|---|---|---|
| Declared at intake (year to 31 March 2026) | £614,800 a year | Estimate given at intake. | ||
| Accounts, year to 31 March 2026 | £614,800 a year | Year end accounts figure, used as the evidenced turnover. | ||
| Bank receipts, April to September 2026 | £732,466 annualised | £61,039 | Six months of customer receipts; an extrapolation, not an accounts figure. Bank credits include VAT at 20%. |
Accounts turnover covers the year to 31 March 2026. Bank receipts cover April to September 2026 and are annualised to £732,466 as an extrapolation, not an accounts figure. Management accounts (£328,600) cover the six months to 30 September 2026. The broker explained that the bank credits include VAT at 20%.
CExisting borrowing, matched across statements, credit report and what was said
| Commitment | Monthly | On the credit report | Mentioned at the start |
|---|---|---|---|
| Asset finance agreement | £455 | Not shown; hire purchase is not registered as a charge | Yes |
| Term loan (£30,000, November 2024) | £920 | Charge registered November 2024 | No; confirmed with the broker |
| Total monthly repayments | £1,375 | Stated at the start: £455 |
DAccount conduct
The business current account ending 0412 is held for each month from April to September 2026. Each statement reconciles to its printed totals, and each opening balance matches the previous month's closing balance. No returned or unpaid payments appear. Regular finance repayments are the asset finance agreement at £455 a month and the term loan at £920 a month.
ECompany credit report (Creditsafe, 26 October 2026)
Status active, incorporated in 2020, with no county court judgments recorded. Accounts for the year to 31 March 2026 and the latest confirmation statement were filed on time. The register lists two current directors and shareholders, Dan Mercer (60%) and Emma Hale (40%), matching the application and the client declarations. One outstanding charge was registered in November 2024, which lines up with the term loan seen in the statements.
FAccounts, VAT and filings
Year end accounts for the year ended 31 March 2026 show turnover of £614,800 (year ended 31 March 2025: £552,700), prepared by the company's chartered accountants. Unaudited management accounts for 1 April to 30 September 2026 show turnover of £328,600 and are kept separate from the year end accounts. An accountants' letter dated 21 October 2026 confirms the directors' income for the year to 31 March 2026. VAT returns are not part of this pack.
GThe people, identity and consistency
Dan Mercer (managing director and lead contact, 60%) and Emma Hale (operations director, 40%) have each completed a personal details form. Their identity and AML checks were completed by the broker, so no identity check was run on this case. Both signed client declarations are dated 26 October 2026. Each director's self declared answers are: no county court judgments, IVAs or debt management plans, no bankruptcy, no repossessions, no adverse credit, no unspent convictions and no past company failures. Both declarations give the same annual gross income as the accountants' letter of 21 October 2026.
HThe pack
Held and checked: business current account statements, April to September 2026 (six months, account ending 0412) · year end accounts for the years ended 31 March 2026 and 31 March 2025 · unaudited management accounts for 1 April to 30 September 2026 · accountants' letter confirming the directors' income, dated 21 October 2026 · company credit report (Creditsafe), 26 October 2026 · personal details forms for both directors · signed client declarations for both directors, dated 26 October 2026 · completed business form
This example is based on a case run end to end by Nivo AI Assistant. Names, places and some details have been changed. Every type of lending gets its own report, and reports can be tailored to the way your firm works.