TAX Systems Limited (04998151): administration
- Status
- Administration ended
- Administration began
- 2014-10-17
- Administrators
- Mark Robert Fry, Kirstie Jane Provan
- Administrators' firm
- Begbies Traynor
- Formerly
- TAX Systems PLC; ECO City Vehicles PLC; Pannal PLC; Unsurpassed PLC
- Incorporated
- 2003-12-17
- Location
- Staines-upon-Thames
- Industry
- 64204 Activities of distribution holding companies
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Regulatory change or action
From the administrators' statement
The Company is the non-trading holding company of the group of companies as set out in the structure chart at Appendix 1 (the Group”) The Company’s shares are listed on the Alternative Investment Market ("AIM”) The Group was an established specialist vehicle distributor and a leading after-sales service centre for the London Taxi owner-driver market
The principle income streams for the Group were
() licensing fees due in respect of intellectual property used for the conversion of Mercedes Benz vehicles into licensed taxis, (n) a licensed tax! dealership, with related driver solutions and after-sales services, mainly
Administrators' statement of proposals (2014-12-04) · Companies House register