Amos Contract Services Limited (04645081): administration
- Status
- Administration ended
- Administration began
- 2012-08-07
- Administrators' firm
- Harrisons Business Recovery and Insolvency
- Formerly
- Amos Floor Markings Ltd
- Incorporated
- 2003-01-22
- Location
- Manchester
- Industry
- 52219 Other service activities incidental to land transportation, n.e.c.
Why it went into administration
- HMRC / tax arrears
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 21 January 2003 but did not start trading until January 2010 when it purchased the business and assets of Amos Construction Services Limited (ACSL’) from its Joint Administrators +The Company operated within the construction industry carrying out road and car park surface line painting. A director Tina Krumins (‘TK’) has advised that the Company continued to service the former clhents of ACSL and obtained new work primarily through referrals from customers
The Company was financed primarily by an invoice discounting facility advanced by SME and secured by a debenture granted on 26 January 2010 Although the Company initially secured a steady flow of contracts tt suffered a pronounced decline in new work in the early part of 2012, and then fell into arrears with HM Revenue and Customs (HMRC’) despite taking cost cutting measures, which included making seven members of staff redundant.
SME became aware of the Company’s difficulties in meeting its obligations to HMRC and obtained its agreement to making payments directly to HMRC in an attempt to reduce the Company’s liability. However, the Company's deteriorating financial position, combined with tts arrears to HMRC, caused it to be in default of its funding agreement with SME
Administrators' statement of proposals (2012-10-08) · Companies House register