Ascendant Access Limited (04646100): administration
- Status
- Administration ended
- Administration began
- 2013-10-28
- Administrators' firm
- Quantuma
- Incorporated
- 2003-01-23
- Location
- Gateshead
- Industry
- 28990 Manufacture of other special-purpose machinery n.e.c.
Why it went into administration
- Sustained trading losses
- Rising costs / inflation
- HMRC / tax arrears
From the administrators' statement
Ascendant Access Limited was founded in January 2003 and traded as a manufacturer of high specification access platforms The Company traded from fully-fitted leasehold premises in Gateshead and employed 17 members of staff
The business had seen a decline in turnover In 2011 / 2012 and this combined with increased costs had resulted in difficult trading conditions In order to maintain production, the Company agreed to manufacture a number of bespoke orders that had resulted in high R&D costs and without the benefit of repeat orders proved to be costly
Despite receiving financial support from tts controlling shareholder, Facelift (GB) Limited, the Company was increasingly struggling to meet its working capital requirements and to service its habilities, including those owing to HMRC In September 2012 HMRC confirmed that if a sizable portion of the arrears could not be settled immediately it would take steps to issue a petition to place the Company into Compulsory Liquidation
Administrators' statement of proposals (2013-11-26) · Companies House register