Delta Design Systems Limited (02117500): administration
- Status
- Administration ended
- Administration began
- 2011-06-08
- Administrators
- Neil John Mather, Kirstie Jane Provan
- Administrators' firm
- Begbies Traynor
- Formerly
- Astriff Limited
- Incorporated
- 1987-03-31
- Location
- London
- Industry
- 3162
Why it went into administration
- Rising costs / inflation
- Cash flow / liquidity pressure
- HMRC / tax arrears
From the administrators' statement
The Company was incorporated on 31 March 1987 and traded from premises at Delta House, Tendnng Heath, Clacton, Essex, CO16 OBU The Company's pnncipal trading activity is the design, commissioning and maintenance of generator sets to the energy sector
In 2010 the Company tendered for and won a number of large contracts for the supply of power stations These included a contract based in Iraq (“Iraqi Contract”) Work on the Iraqi Contract commenced with plan and design drawings being submitted to the customer The Company had expected to drawdown circa £1 6million in September 2010 in respect of this contract however, no funds have ever been forthcoming This ultimately led to cash flow problems for the Company during late 2010 and throughout 2011
On or about 7 June 2011, Her Majesty's Revenue & Customs (“HMRC”) filed a petition to wind-up the Company for an amount owed to them of £399,544 48 in respect of arrears of PAYE and National Insurance Contnbutions As the Company was unable, nor likely to be able to pay the indebtedness to HMRC, the directors of the Company invited Barclays Bank PLC (“the Bank”), who hold secunty over the Company's assets to appoint administrators On 8” June 2011, the Bank duly appointed Kirste Jane Provan and Neil John Mather as joint administrators of the Company
Administrators' statement of proposals (2011-08-02) · Companies House register