# G.M.S. Thermal Realisations Limited (03158438)

> Why UK company 03158438 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03158438

- **Status:** Administration ended
- **Administration began:** 2018-02-12
- **Administrators:** Lee Van Lockwood, Jonathan Paul Philmore
- **Administrators' firm:** Begbies Traynor
- **Formerly:** G.M.S Thermal Products Limited; Brightside Services Limited
- **Incorporated:** 1996-02-14
- **Location:** Huddersfield
- **Industry:** 25620 Machining

## Why it went into administration

- Sustained trading losses
- Cash flow / liquidity pressure
- Competition / price pressure

## From the administrators' statement

The Company was incorporated in February 1996 by Garry Ashmore. He was joined in 1997 by Steven Rawlings and Michael Ward. All three have a background in engineering design and fabrication. The Company began modestly but grew to be a leading supplier of commercial and industrial water heating products for building services and process industries worldwide.

Unaudited draft accounts show net profit of £274k in the year to 31 March 2016, based upon turnover of £3.7m. The accounts also show a reduction in turnover of £450k to £3.3m in the year to 31 March 2017. Net profit also reduced; by £149k to £125k.

The Company's financial systems also show turnover for the ten months to 29 January 2018 to be £1.9m with a net loss in that period of £88k.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03158438/filing-history/MzIwMTk3MDI1NWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03158438

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