From the administrators' statement

TSM Realisations Limited (formerly Taybar Security Management Limited) was incorporated in 1995 following Stephen Taylor and David Barlow purchasing contracts from a business known as CIS The company number is 03065487 The company trades as a security firm, under the trading name “Taybar Security Management” providing key holder, alarm callouts, mobile patrol, fixed term contracts for businesses

Turnover reached £2M, but reduced to £1 4M in 2010 and further in 2011 resulting in a reduction tn profitability and cash flow problems This, together with a bad debt of £246k from Lindasgrove Limited, a connected company in 2009, led the company to propose a Company Voluntary Arrangement, which was accepted by creditors in August 2011

The Company Voluntary Arrangement proposals indicated that preferential creditors would be patd in full and unsecured creditors would receive 40p in the £ over a 5 year period

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TSM Realisations Limited (03065487)

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