Saph Limited (04643553): administration
- Status
- Administration ended
- Administration began
- 2015-06-12
- Administrators' firm
- Resource Partners SPV
- Incorporated
- 2003-01-21
- Location
- Brighton
- Industry
- 88990 Other social work activities without accommodation n.e.c.
Why it went into administration
- Property / lease costs
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Sustained trading losses
- Loss of key people
From the administrators' statement
The company has been providing domiciliary care services since tts incorporation in 2003 under a franchise agreement with Carewatch Care Services Limited (“CCS”) The company was initially managed by Evelyn and John Phillips The company operated from premises situated at Unit 4 Spectrum House, 32-34 Gordon House Road, London NW5 1LP under a 12 month occupation agreement at a rent of £16,755 per annum A rent deposit was taken and held by the landlord totalling £3,055 The company employed around seventy members of staff made up of administrative support and care workers
In March 2005 the company granted a debenture supported by fixed and floating charges over the company’s assets to Lloyds TSB Commercial Finance Limited ("Lloyds")
The charge was satisfied In July 2008 when Lloyds were bought out by Shawbrock Business Credit ("Shawbrook”) (known as Resource Partners SPV Limited at the time) after the company entered into an invoice funding agreement with Shawbrook The terms of the agreement stipulated that all of the company’s debtors past, present and future were subject to Shawbrook’s fixed charge
Administrators' statement of proposals (2015-08-12) · Companies House register