BLN10076 · Calderstone Developments

Facility

£5,500,000

Current balance

£4,324,641

All-in rate

11.00%

Term

36 months

Days past due

—

Repayment waterfall

How the next receipt is applied, per Formance ledger configuration

Receipt £203,194

→

Fees & charges

£4,064

Accrued interest

£50,417

Principal

£148,714

Each tranche is then attributed across 5 lender positions as a ledger fact — no batch recomputation.

First eight periods

#	Due	Interest	Principal	Total	Closing balance
1	16 May 2023	£50,417	£152,778	£203,194	£5,347,222
2	16 Jun 2023	£49,016	£152,778	£201,794	£5,194,444
3	16 Jul 2023	£47,616	£152,778	£200,394	£5,041,667
4	16 Aug 2023	£46,215	£152,778	£198,993	£4,888,889
5	16 Sept 2023	£44,815	£152,778	£197,593	£4,736,111
6	16 Oct 2023	£43,414	£152,778	£196,192	£4,583,333
7	16 Nov 2023	£42,014	£152,778	£194,792	£4,430,556
8	16 Dec 2023	£40,613	£152,778	£193,391	£4,277,778

Continuous, auditable record from application to closure

16 Apr 2023
Facility drawn
£5,500,000 released to solicitor client account
16 Apr 2023
Conditions precedent satisfied
Debenture, personal guarantee and legal opinion received
16 Apr 2023
DD mandates live
5 mandates confirmed with BACS bureau
16 Jun 2023
First collection
£203,194 collected and allocated
16 Aug 2023
Covenant test — Q1
DSCR 1.19x against 1.25x floor

Approved outside current credit policy — exception recorded at origination.

Attribution held in the ledger

Northgate Capital20.6%

£892,386 outstanding

Selwyn Nominees19.0%

£823,741 outstanding

Cavendish Income Fund20.6%

£892,386 outstanding

Ravensworth LLP19.0%

£823,741 outstanding

Brightwater Trust20.6%

£892,386 outstanding