HA Realisations Limited (00997950): administration
- Status
- Administration ended
- Administration began
- 2022-08-15
- Administrators
- Diana Frangou, Christopher Lewis
- Administrators' firm
- RSM
- Formerly
- Hard Anodising Limited
- Incorporated
- 1970-12-23
- Location
- Birmingham
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- HMRC / tax arrears
- COVID-19
- Cash flow / liquidity pressure
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
In the year ended 31 December 2020 (latest date for which reliable accounts are available) the Company generated a profit before tax of £287,191 on sales of £2.0 million. That profit was after a creditof£274,545 in respect of amounts written off through the CVA that concluded during that year.
Completed accounts are notavailable for the year ended 31 December 2021 but, based on much reduced sales of £1.6m (prior year £2.0m) the Directors believe that the Company will have incurred a substantial loss before tax. The break-even level of sales was around £1.9m per annum.
Management accounts for the year to date (FY22) are notavailable. The average monthly sales in the first six months of 2022 havebeen c£142k. Given some cost savings implemented, monthly sales of c£150k would broadly achieve break-even, so itis expected that the Company made further losses in 2022.
Administrators' statement of proposals (2022-08-24) · Companies House register