F10 Engineering Limited (04683143): administration
- Status
- Administration ended
- Administration began
- 2012-06-27
- Administrators' firm
- RSM
- Incorporated
- 2003-03-02
- Location
- London
- Industry
- 78109 Other activities of employment placement agencies
Why it went into administration
- Property / lease costs
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
F10 Engineering Limited (“F10" or “the Company”) was incorporated on 2 March 2003 with the Company number 04683143 and commenced trading immediately
The directors of the Company, Mark Flawn and Mark Stephens had previously worked for many years in the recruitment industry and had a wealth of experience between them They were confident that they could forge business relations with a number of significant organisations operating within the defence and communication sectors
The Company was initially funded through directors loans in the region of £40,000, which have been subsequently repaid in the preceding years The Company operated a current account with Lloyds TSB with an overdraft facility of £10,000, which was supported by personal guarantees given by the directors
Administrators' statement of proposals (2012-08-22) · Companies House register