# Full Bore Industries Limited (03597121)

> Why UK company 03597121 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03597121

- **Status:** Administration ended
- **Administration began:** 2013-08-30
- **Administrators:** Simon Matthew Gwinnutt
- **Administrators' firm:** Greenfield Recovery
- **Incorporated:** 1998-07-13
- **Location:** Clarke Street
- **Industry:** 43330 Floor and wall covering

## Why it went into administration

- HMRC / tax arrears
- Sustained trading losses

## From the administrators' statement

The Company operated as a construction sub-contractor It traded successfully for a number of years and (despite incurring a significant trading loss in the year to 31 July 2012) had shareholders’ reserves of some £241,000 as at 31 July 2012

However, the trading losses continued into the subsequent trading period and by Easter 2013, the Company had a time-to-pay arrangement in place with HMRC

By the summer of 2013, tt had become apparent that the Company might not survive unless It generated immediate profitable work; and due to a shortage of cash it could not meet its HMRC time-to-pay commitment By late summer, several trade creditors had threatened or had commenced recovery action. The Directors collected what cash was available as far as possible from debtors and the Company made a number of employees redundant on 16 August 2013.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03597121/filing-history/MzA4NzU2Nzc2NmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03597121

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