# Capital Pallet Solutions Ltd (04813339)

> Why UK company 04813339 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04813339

- **Status:** Administration ended
- **Administration began:** 2017-02-27
- **Administrators:** Andrew Graham Mackenzie, Julian Pitts
- **Administrators' firm:** Begbies Traynor
- **Incorporated:** 2003-06-27
- **Location:** Hull
- **Industry:** 16290 Manufacture of other products of wood; manufacture of articles of cork, straw and plaiting materials

## Why it went into administration

- Loss of a key customer, supplier or contract
- Property / lease costs
- Weather / natural events

## From the administrators' statement

The Company began to expenence financial difficulttes as a consequence of the loss of tts largest customer worth approximately £500 000 of turnover in May 2016 The Company's draft accounts as at 31 December 2016 reported a net loss of £465 124 in comparison to the previous year which reported a net profit of £43 210

Despite the loss of the largest customer the Company was still obtaining good margins on its sales and had a strong customer base with 6 customers who were under formal contract representing approximately £1millton turnover However the viability of the Company’s future became questionable due to the size of the overhead base the premises rent alone being £50k per annum along with other related costs such as rates insurance utilities etc meaning the Company was running at a loss

In January 2017 the Company was liaising with a local customer Watson Pallets Limited ( Watsons ) about a possible sale of the business However the discovery of the loss of the major customer and resultant losses stalled this

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04813339/filing-history/MzE3MTE4NzgxM2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04813339

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