# Faraday Printed Circuits Limited (01905822)

> Why UK company 01905822 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/01905822

- **Status:** Administration ended
- **Administration began:** 2023-11-14
- **Administrators:** Andrew D Haslam, Allan David Kelly
- **Administrators' firm:** FRP Advisory
- **Formerly:** Faraday Circuits Limited; Valvestate Limited
- **Incorporated:** 1985-04-17
- **Location:** Houghton le Spring
- **Industry:** 26110 Manufacture of electronic components

## Why it went into administration

- Sustained trading losses
- Rising costs / inflation
- Cash flow / liquidity pressure
- Energy costs
- Property / lease costs

## From the administrators' statement

The Company was incorporated on 17 April 1985 and operated as a printed circuit board (“PCB”) manufacturer and supplier. The Company operated from a leased facility at 15-18, Faraday Close, Washington, NE38 8Q].

At the point of Administration, the Company employed 38 members of staff including the Director, Jamie Pearson. The Company was a wholly owned subsidiary of Faraday Printed Circuits (Holdings) Limited and the ultimate beneficial owners are Jamie Pearson (5.2%), Julia Smith (47.4%) and the estate of John Gordon Arkley (47.4%).

The details of the charges held and the outstanding balances are detailed in Section 4 below.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/01905822/filing-history/MzQwNTAwNzE5NGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/01905822

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.