Rubber Recovery Limited (02311293): administration
- Status
- Administration ended
- Administration began
- 2014-11-11
- Administrators' firm
- FRP Advisory
- Formerly
- R & P Recovery Limited; Rubber Recovery Limited; Shafton International Parts Limited; V H E (Mining) Limited; Anglo West Africa Consultants Limited
- Incorporated
- 1988-11-01
- Location
- St Albans
- Industry
- 38320 Recovery of sorted materials
Why it went into administration
- Property / lease costs
- HMRC / tax arrears
- Sustained trading losses
- Creditor pressure / legal action
From the administrators' statement
21 The Company was incorporated on 1 November 1998 and was acquired by the current shareholder, Kilty 2009 Limited on 24th September 2009 from VHE Equipment Services Limited, an unconnected company. Michael Sherling ts currently the sole director of the company. Mr Simon Isaacs was appointed a director upon the acquisition but resigned on 14 June 2013.
22 The Company traded initially from leasehold premises in Barnsley in the recycling of industrial rubber (door seals and gasket off-cuts) to create a granular EPDM product A line was then also started to recycle plastic with the machinery being financed by hire purchase and injections of capital from the Sherling family
23 For the period from acquisition to 31 December 2010 (15 months) the company made a net profit before tax of £123,161 on turnover of £1 99 million For the following year to 31 December 2011 a net profit of £188,756 was achieved on turnover of £1 875 million. !
Administrators' statement of proposals (2014-11-28) · Companies House register