Plant and Consumable Services Limited (04132575): administration
- Status
- Administration ended
- Administration began
- 2017-03-06
- Administrators
- Toby Scott Underwood, Anthony Steven Barrell
- Administrators' firm
- PwC
- Formerly
- LAW 2251 Limited
- Incorporated
- 2000-12-29
- Location
- Leeds
- Industry
- 47990 Other retail sale not in stores, stalls or markets
Why it went into administration
- Funding withdrawn / unable to refinance
- Management failings / irregularities
From the administrators' statement
The Company’s principal activity was the hiring out of non-operated plant, and sale of engineering consumables to customers mainly operating in the power sector. The Company's turnover was broadly split 25% plant hire and 75% sale of consumables.
The Company was associated with two holding companies (the Company is a 100% wholly owned subsidiary of SCAP Holdings Limited which is a 100% owned subsidiary of SCAHL Limited). The ultimate owners are the current two directors, Mark Evans and Chris Eccleshall, who each own 40% respectively of the issued share capital of SCAHL Limited, with former director and current chairman, Darren Bramhill, holding the balance. We understand that the Company is the only trading entity within this group.
The Company reported revenues of £24.5m and a pre-tax profit of £1.0m in FY15; however reported revenues and pre-tax profits for FY16 had declined to £21.2m and £0.3m respectively. Management accounts for the 10 months to 31 January 2017 indicate that revenues were £13.5m and the Company had incurred a loss of £0.1m.
Administrators' statement of proposals (2017-06-13) · Companies House register