# Premier Aggregates Limited (01987630)

> Why UK company 01987630 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/01987630

- **Status:** Administration ended
- **Administration began:** 2012-09-17
- **Administrators' firm:** SP Angel Corporate Finance
- **Formerly:** Premier Skip Hire Limited
- **Incorporated:** 1986-02-10
- **Location:** Chatham Maritime
- **Industry:** 96090 Other service activities n.e.c.

## Why it went into administration

- Funding withdrawn / unable to refinance
- Creditor pressure / legal action

## From the administrators' statement

We are advised that the Company was established in 1986 and commenced trading as a quarry and landfill site The Company changed tts name from Premier Skip Hire Limited to Premier Aggregates Limited on 6 June 1994 The Company has traded for a number of years as a quarry and landfill site and was acquired by the current owners during 2005 with the intention that they would be able to make the site profitable and deal with a number of longstanding issues that had arisen However the Company has been unable to generate profits throughout this tme The new owners were not able to inject the level of new finance into the Company to meet all of the challenges that it faced, despite providing guarantees for the banking facilities The situation deteriorated from the date of acquisition, throughout 2006 and into 2007, despite the Company securing some valuable planning permissions and dealing with some of the longstanding issues that existed at the date of acquisition

The cash flow position of the Company detenorated during 2007 and this culminated in a proposal for a company voluntary arrangement (“CVA”) being put to creditors on 7 June 2007 The Company had approached Moore Stephens LLP for assistance in dratting the proposal! and David Elliott was appointed as supervisor of the arrangement following the creditors and shareholders meetings The arrangement was successfully concluded on 9 December 2009

The Director has advised that the long term plan for the Company was to achieve planning permission and the creation of a gasification piant on the trading site It was hoped that with the benefit of this technology, the amount of waste product that ended up as landfill would be substantrally reduced, from 40% estimated when planning permission for the Matenals Recovery Facility ("MRF") was granted in 2007 to less than 10% This had significant benefits, with the hfespan of the landfill site being extended by around 15 years and the avoidance of the punitive landfill tax on non-hazardous active waste that ts currently £64 per tonne and planned to rise to £80 per tonne in 2014 The inert, non-active waste byproduct from the gasification process is charged at only £250 per tonne, and therefore the cost benefits to the Company would have been substantial

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/01987630/filing-history/MzA2NzA5MzI5N2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/01987630

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