Wed, 02 Aug 2023 | ADMINISTRATION
An electrical contracting firm based in Lincolnshire has fallen into administration after posting two separate notices of intention to appoint administrators (NOI) in July. Active Electrical Services (AES) is based in Stamford, Lincolnshire and employed an average of 11 staff last year, according to recent financial accounts.
The company appears to have been struggling for some time, having filed NOIs on July 3 and July 14, as it sought protection from its creditors. According to the company’s accounts for the year ending June 30 2022, it owed creditors close to £390,000 and had two outstanding charges against its from the Royal Bank of Scotland (RBS) and Aldermore Bank.
The firm, which was founded in 2014, has now moved to appoint joint administrators Charles Ranby-Gorwood and Arabella Ranby-Gorward of CRG Insolvency & Financial Recovery. The joint administrators will handle the day-to-day operation of the company.
The company carries out work on contracts for both domestic and commercial clients, as well as being an approved contractor used by landlords to carry out electrical safety checks and testing on their properties.
In AES’s accounts for the year to June 30 2022, its fixed assets were valued £7,575 and current assets at £359,427, down from over £0.5 million a year earlier. The company’s debts to its creditors, however, left it with net liabilities of close to £220,000 at the time of filing.
Read about rising UK insolvency figures.
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