Tue, 17 Dec 2024 | ADMINISTRATION
Since our last update, the following businesses have been confirmed as having fallen into administration. All dates indicate when the administration was announced and not necessarily the dates on which administrators were appointed.
Elev8 Access Platforms Limited – December 11
Elev8 Access Platforms Limited, a Sheffield-based provider of platform lifting equipment, fell into administration earlier this month, with John Lowe and Yasmin Bhika of FRP Advisory appointed as joint administrators.
The company, which provided platform lifting equipment for customers across the UK and Europe, had experienced difficult trading conditions, resulting in cashflow issues that impacted its ability to trade solvently.
After receiving a winding up petition from HMRC, it was placed into administration and ceased trading – with all 84 staff made redundant upon the appointment of the joint administrators.
Yasmin Bhikha said: "Despite being a trusted supplier across the sector for many years, mounting external pressures resulted in the business being unable to reach an agreement to settle its financial obligations to HMRC, and regrettably, this has meant ceasing operations.”
In accounts for the year to September 29 2023, the company’s fixed assets were valued at around £5.8 million and current assets at £1.6 million, with net assets amounting to approximately £275,000.
Redfields Landscaping & Design Limited – December 12
Redfields Landscaping & Design Limited, a landscaping business based in Kent, fell into administration last week, with Ben Stanyon and Nedim Ailyan of FRP Advisory appointed as joint administrators.
In accounts for the year to March 31 2023, the company’s fixed assets were valued at around £256,000 and current assets at £1.57 million, with total equity standing at slightly over £898,000 at the time.
Hawkmoor Limited – December 12
Hawkmoor Limited, a manufacturer of military field catering and utility equipment based in Woking, fell into administration earlier this month, with Andrew Bailey and Martin Armstrong of Turpin Barker Armstrong appointed as joint administrators.
In accounts for the year to March 31 2023, the company’s total assets were valued at close to £22 million. However, debts meant that its net liabilities at the time exceeded £1.4 million.
DNANudge Limited – December 13
DNANudge Limited, a genetic testing services company based in London, fell into administration last week, appointing Kelly Mitchell and Duncan Beat of Quantuma Advisory as joint administrators.
In accounts for the year ending July 31 2023, the company reported turnover of £886,643, down from around £7.6 million a year earlier, with the drop attributed partly to the firm’s switch away from COVID-19 tests in FY2022.
Despite directors voicing optimism about the company’s future, the drop in turnover was accompanied by the firm falling from a post-tax profit of £3.4 million in 2022 to a loss of £13.6 million in 2023.
At the time, its fixed assets were valued at £4.4 million and current assets at £5.1 million. However, its net liabilities amounted to more than £6.8 million.
Tef Transport Limited – December 13
Tef Transport Limited, a road haulage and warehousing firm based in Scarborough, fell into administration last week, with Kelly Burton and Joseph Fox of FRP Advisory appointed as joint administrators.
In accounts for the year to December 31 2022, the company reported turnover of £5.2 million, down from £5.6 million a year earlier, while seeing its post-tax losses widen slightly from around £267,000 to approximately £279,000.
The company’s directors stated that it had seen a slowdown in trading in 2023 compared to 2022, with trading impacted by “post pandemic corrections and the slowdown in the general economy”.
At the time, the company’s fixed assets were valued at £3.4 million and current assets at £2.4 million, with net assets amounting to £4.4 million.
Find out more about high UK haulage insolvencies
A J Mechanical Services Limited – December 16
A J Mechanical Services Limited, a mechanical and electrical contractor based in Bedford, fell into administration earlier this month, with Richard Easterby and Gary Thompson of Quantuma Advisory appointed as joint administrators.
In accounts for the year to March 31 2023, the company’s assets amounted to around £3.4 million, with net assets standing at just shy of £300,000.
Qualtech Resourcing Limited – December 16
Qualtech Resourcing Limited, a Birmingham-based recruitment and human resources services firm serving sectors including engineering, manufacturing and construction, fell into administration in early December, with Conrad Beighton and Kirsty Swan of Leonard Curtis appointed as joint administrators.
In accounts for the year to February 28 2023, the company’s turnover stood at close to £3.8 million, down from £5.2 million a year earlier, while it reported a post-tax loss of approximately £214,000, compared to a profit of £294,000 the year prior.
Solent Butchers & Co Limited – December 16
Solent Butchers & Co Limited, a butcher and meat wholesaler based in Portsmouth, fell into administration last week, with Chris Newell and Jo Leach of Quantuma Advisory appointed as joint administrators.
In accounts for the year to August 31 2022, the company reported turnover of £14.1 million, up from £8.2 million in its previous accounts, and post-tax profit of close to £300,000, up from £120,707.
However, at the time, directors stated that the company had experienced the loss of a major customer during 2022, which they said would lead to reduced sales in the next financial year. Directors also cited the impact of inflation and cost pressures on the catering trade, particularly in hospitality.
At the time, the firm’s fixed assets were valued at around £430,000 and current assets at £1.5 million, with total equity amounting to slightly over £420,000.
Ever Readymix Concrete & Screed Limited – December 16
Ever Readymix Concrete & Screed Limited, a Lincolnshire-based supplier of concrete and screeds, fell into administration last week, with Phil Clark and Dave Clark of Clark Business Recovery appointed as joint administrators.
The company, which has been trading for 30 years and operated from sites in Sandtoft, Scunthorpe and Immingham, filed a notice of intention (NOI) to appoint administrators at the beginning of December.
In accounts for the year to February 28 2023, the company’s fixed assets were valued at around £417,000 and current assets at slightly over £2 million, with net assets amounting to approximately £205,000.
Remedi Solutions Limited – December 16
Remedi Solutions Limited, an NHS prescription delivery provider based in Exeter, fell into administration earlier this month, with Lucina Coleman and Nicholas Harris of Francis Clark appointed as joint administrators.
In accounts for the year to December 31 2023, the company’s fixed assets were valued at around £710,000 and current assets at slightly over £3 million. However, significant debts meant that its net assets amounted to just £66,720.
Immersive Group Gaming Limited – December 17
Immersive Group Gaming Limited, a London-based provider of immersive video game experiences, fell into administration last week, with Julie Palmer and Andrew Hook of Begbies Traynor appointed as joint administrators.
In accounts for the year to March 31 2023, the company’s turnover stood at £9.1 million, up from £2.6 million a year earlier. However, its post-tax losses widened from £4.6 million to nearly £6 million.
At the time, its fixed assets were valued at £17.3 million and current assets at £12.6 million, with net assets standing at £3.1 million.
SmartHub Logistics Limited – December 17
SmartHub Logistics Limited, a construction logistics consolidation specialist based in Hemel Hempstead, fell into administration last week, appointing Kelly Burton and Joseph Fox of FRP Advisory as joint administrators.
In accounts for the year to October 31 2022, the company’s fixed assets were valued at around £422,000 and current assets at close to £1.2 million. However, at the time, its net liabilities amounted to slightly over £1.6 million.
Lydney Pallets & Cases Limited – December 17
Lydney Pallets & Cases Limited, a Birmingham-based manufacturer of wooden pallets and cases, fell into administration last week, with Rajnesh Mittal and Benjamin Jones of FRP Advisory appointed as joint administrators.
In accounts for the year to July 31 2023, the company’s fixed assets were valued at around £354,000 and current assets at £2.57 million, with total equity standing at £1.66 million.
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