# Middleton Precision Engineering Ltd (04246932)

> Why UK company 04246932 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04246932

- **Status:** Administration ended
- **Administration began:** 2014-11-20
- **Incorporated:** 2001-07-05
- **Location:** Birmingham
- **Industry:** 71129 Other engineering activities

## Why it went into administration

- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action

## From the administrators' statement

The Company had manufactured parts for the automotive industry since Its incorporation in 2001 Prior to its incorporation, the Director of the Company, Mr Keith Middieton had operated as a sole trader The Company had experienced a dectine in tts customer base between 2008 and 2010 which ultimately resulted in the Company entering into a Company Voluntary Arrangement ("CVA") with tts Creditors on 9 November 2011

The Company had imiially adhered to the terms of the CVA Proposal However, from April 2013, the Company had been unable to meet its ongoing liabilites due to HM Revenue and Customs (“HMRC”) which was deemed to be a breach of the terms of the CVA Furthermore, the Company had experienced increased pressure from HMRC to make payments which the Company could not meet This resulted in the threat of winding up action on 25 September

| M D Hardy was introduced to Keith Middleton, a Director of the Company on 1 October 2014 Mr Middleton was referred to me by the Accountants to the Company, the SFB Group, as a result of the Company being unable to meet or negotiate a settlement of the ongoing liability due to HMRC As a result of this meeting, Mr Middleton with the assistance of his own advisors, explored the possibility of raising funding against the assets of the business Despite his attempts, thts proved unsuccessful and | was contacted again by Mr Middleton on 30 October 2014 At this time, Directors resolved to commence the Administration process

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04246932/filing-history/MzExNTQ5OTg1MWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04246932

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