Applied Cooling Systems Limited (02634589): administration
- Status
- Administration ended
- Administration began
- 2012-10-09
- Administrators
- Beverley Ellice Budsworth
- Administrators' firm
- Ac Harcourt Associates
- Formerly
- Slatershelfco 225 Limited
- Incorporated
- 1991-08-02
- Location
- Manchester
- Industry
- 43220 Plumbing, heat and air-conditioning installation
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Creditor pressure / legal action
- Bad debts / customer insolvency
- Competition / price pressure
From the administrators' statement
Applied Cooling Systems Limited was incorporated 1991 The current director, Robert Donaldson, joined the Company in 2007 as a Sales Manager Mr Donaldson had been in industry for 35 years and had vast expenence in managenal roles at firms across the region
Mr Donaldson became a director in 2009 and joined existing directors Aileen Corbett and Stephen Mercer as a member of the board He was tasked with developing the sales function of the Company Mrs Corbett left the Company in September following difficult personal circumstances Mr Mercer left the Company in August 2011 having decided to go back to the facilities management industry
The turnover of the Company in the year ending December 2009 was £970,158 which resulted in net loss of £93,227 In the subsequent year to December 2011 turnover remained constant at £970,034 resulting in a net loss of £7,834 The reduction in losses can be attnbuted to much lower administrative expenses and in particular a reduction in the cost of wages and salanes The level of creditors increased over the same penod from £232,596 to £331,497
Administrators' statement of proposals (2012-11-12) · Companies House register