# WPHL 2009 Realisations Limited (02949408)

> Why UK company 02949408 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02949408

- **Status:** In administration
- **Administration began:** 2009-03-16
- **Administrators:** Terry Evans, Victor Henry Ellaby
- **Formerly:** Wessex Plant Hire Limited; SMPH Limited; Steve Mead Plant Hire Limited
- **Incorporated:** 1994-07-15
- **Location:** Bristol
- **Industry:** 4550

## Why it went into administration

- Competition / price pressure
- Property / lease costs

## From the administrators' statement

The initial introduction to the Company came from the Company’s accountants Rossiter Smith & Co.

Prior to appointment the Joint Administrators met with the directors to discuss and advise on the Company’s financial position which can be summarised below:-

Following the general downturn in the construction industry resulting in falling turnover, the Company had been experiencing cash-flow difficulties. The Company was financed by an overdraft facility of £70,000 from NatWest Bank Pic (“the Bank”) and an invoice discounting line from RBS Invoice Finance, both secured by debentures. The Bank had requested a reduction of £5,000 per month in the overdraft facility to a limit of £50,000. In addition the advance on the invoice discounting line was being reduced from 90% to 85% at the rate of 1% per week.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02949408/filing-history/MjAzMzM0MjAxN2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02949408

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