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TVAF 7 West Mills Yard, Newbury, Berkshire, RG14 5LP
The clients were already known to TVAF, as we had assisted them previously when they ran another pub.
Upon moving to a new pub they were looking to refit the kitchen area. The brewery had agreed to extend the kitchen, but the refit costs were down to the owners.
The refit required the clients to purchase various items including ovens, fridges, hot cupboards and sinks. The supplier of the goods was well known in the catering industry and the finance company were happy with the supply route of the assets, for this transaction.
It’s important to note that the finance company will undertake due diligence on the supplier of any goods they are being asked to finance.
Finance was arranged via a Hire Purchase agreement with the clients having to pay the VAT element of the transaction together with one monthly repayment in advance. The remaining finance will be repaid monthly over 35 payments.
Once all the repayments have been made, all of the equipment will be owned by the business.