Amtec Ltd (03036386): administration
- Status
- Administration ended
- Administration began
- 2020-02-27
- Administrators
- Richard Patrick Brewer, Alexander Kinninmonth, Matthew Richard Meadley Wild
- Administrators' firm
- RSM
- Formerly
- AIR Movement Technology Limited; Accolade Contracts Limited
- Incorporated
- 1995-03-22
- Location
- Tollgate
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Property / lease costs
From the administrators' statement
Relevant extracts from the Company's draft financial statements and management accounts are summarised below:
Turnover 2.885 2.623 635 Fixed Assets 139 114 122
Cost of Safes 2,256 2.329 412 Gross profitiloss) 629 294 223 Current Assets Gross margin 218% 11.2% 35.1% Stock & WIP - - 257 Employee costs 117 431 32 Debtors 959 936 746 Rent & property costs 129 135 55 Cash at bank 178 20 31 Vehicle costs 23 20 4 Other assets - - 26 Legal and professional 10 14 9 1.137 956 1.060 Other overheads 127 128 4 Total overheads 406 428 101 Current Liabilities EBITDA/(LBITOA} 223 (434) 122 HP and finance jeases 22 22 26 Depreciation 41 8 NIA‘ Trade creditors 499 300 271 A-nortisation . . NIA‘ Corporation tax 47 1 Non-operating income 7 7 Other taxes & social security 20 43 43 Finance costs 7 15 VAT . 86 106 146 (LBTVEBT 215 (150) 422 Other creditors 17 248 41g Accruals and deferred 13 4 18 704 734 921 Net current assets 433 225 139 Non-current liabilities 55 28 15 Net assets 516 311 245
Administrators' statement of proposals (2020-05-13) · Companies House register