# Cavill Fabrications Limited (02694615)

> Why UK company 02694615 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02694615

- **Status:** Administration ended
- **Administration began:** 2011-06-01
- **Administrators' firm:** Begbies Traynor
- **Formerly:** Nelaocean Limited
- **Incorporated:** 1992-03-06
- **Location:** Nottingham
- **Industry:** 2875

## Why it went into administration

- Bad debts / customer insolvency

## From the administrators' statement

The Company had been under some financial pressure for the past two years, sustaining a net loss of £349k in respect of the year ended September 2009 and just about breaking even in 2010 Trading in 2011 proved to be significantly more difficult with trading at a loss of £166k being reported for the first 7 months of the financial year

The directors confirmed that during the past 12-18 months, there had been a significant deciine in turnover, together with clients applying pressure on the Company to reduce its margins The Company had attempted to take a number of steps to remedy the deciine tn financial performance, including laying off a number of staff and applying short-time working Regretfully, these steps failed to stem the loss-maktng activity This was further compounded by a bad debt of £75k, which, when added to the actual trading loss for the 7 months to April 2011 of £92k, resulted in the aggregate loss for that period of £166k

Immediately prior to our appointment the Company was currently working on a number of contracts, with an estimated outstanding realisable value when completed, of approximately £780k Having reviewed the contracts in some detail, it was anticipated that the estimated costs to complete would have been approximately £760k if no issues arose in the completion of the contracts

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02694615/filing-history/MzA0MTI3MTk4MGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02694615

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