A One Precision (Wimborne) Limited (02626263): administration
- Status
- Administration ended
- Administration began
- 2014-05-20
- Administrators
- Martha Hanora Thompson, William Matthew Humphries Tait
- Administrators' firm
- BDO
- Formerly
- Turntech Precision Engineering Limited
- Incorporated
- 1991-07-03
- Location
- Gatwick
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated in 1991, It operated in the precision engineering sector, specialising in manufacturing components for the aerospace, defence, oil and gas industries.
The Company was acquired by A One Precision (Hounslow) Limited (“Hounstow”) in June 2013. Since that date the Company had been loss making, in part due to a loss of turnover, which resulted in cash flow pressure. According to the Company’s management accounts it incurred losses of £263k in the period 1 August 2013 to 31 March 2014
The Company traded from three leasehold premises at the Woolsbridge {ndustrial Estate, Three Legged Cross, Wimborne, Dorset, BH21 6SY, and immediately prior to the Joint Administrators appointment employed 28 people.
Administrators' statement of proposals (2014-07-17) · Companies House register