Conditioned Environment (Services) Limited (01415801): administration
- Status
- Administration ended
- Administration began
- 2012-12-07
- Administrators
- Gareth Wyn Roberts, Robert Christopher Keyes
- Administrators' firm
- KRE Corporate Recovery
- Incorporated
- 1979-02-19
- Location
- Reading
- Industry
- 35300 Steam and air conditioning supply
Why it went into administration
- Cash flow / liquidity pressure
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated in 1979 and its principal activity surrounds the installation and servicing of commercial air conditioning systems The company has, in the recent past, traded from premises situated at 245 Acton Lane, Park Royal, London
The most recent accounts disclosed in this report indicate that the company traded profitably up until the year ended 30 September 2011 The business model was based on a strong ability to win contract work which was then supplemented by the maintenance side of the operation which had some 400 customers
The directors believed at the commencement of 2012, that the business turnover would increase based on suspected pipe-line work With this assumption the company’s infrastructure was geared up to accommodate the anticipated upturn which included but was not limited to office refurbishment and an increase in staff head count It 's important to note that the changes were financed through cash flow, as opposed to additional bank borrowings
Administrators' statement of proposals (2013-01-30) · Companies House register