# Secure Electrans Limited (03830044)

> Why UK company 03830044 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03830044

- **Status:** Administration ended
- **Administration began:** 2014-03-17
- **Administrators:** Andrew John Duncan, Alex David Cadwallader
- **Administrators' firm:** Leonard Curtis
- **Formerly:** Secure Electrans.Com Limited
- **Incorporated:** 1999-08-23
- **Location:** London
- **Industry:** 62090 Other information technology service activities

## Why it went into administration

- Funding withdrawn / unable to refinance
- Shift to online / high-street decline
- Cash flow / liquidity pressure
- Management failings / irregularities

## From the administrators' statement

The Company was incorporated on 23 August 1999 with Michael Jarman, James Grant, Philip Edwards and Michael Eggleton as the founding directors

The Company was onginally established to address the growing need for secure payment processing technology in the utility sector, due to the move from the traditional analogue meters to the modem digitat and remote readers by the major utility providers

The Company secured large amounts of investment from individuals and institutions through multple rights issues and loan agreements

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03830044/filing-history/MzEwMDAxNjEyNWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03830044

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