LDE Smartalarms Limited (05273822): administration
- Status
- Administration ended
- Administration began
- 2018-02-16
- Administrators
- Gareth Prince, Mark Malone
- Administrators' firm
- Begbies Traynor
- Formerly
- Kemble Data Services Limited
- Incorporated
- 2004-10-29
- Location
- Birmingham
- Industry
- 62020 Information technology consultancy activities
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
From the administrators' statement
The Company was incorporated in 2004 as a family business involving Julio Wildeboer, his wife Beverley Wildeboer and their daughter Sian Wildeboer. Its principal purpose was to provide managed digital services to a variety of customers across various sectors including oil, aggregate and aviation. It operated from leasehold premises near Cirencester employing a modest level of staff. It achieved turnover in the region of £700,000 per annum in recent years comprising reoccurring contractual income and also ad-hoc income from specific orders.
The Company became well established, providing digital services such as monitored Close Circuit Television (“CCTV”), mobile IP and managed network services to a client base of approximately 80 customers; including some blue chip customers. It supplied and maintained these various services across circa 600 different locations in the UK. It also specialized in providing services in difficult environments and infrastructures.
The Company sought external investment from Wallace Stein & Co Limited (WSCL) in 2011. This was to enable the business to grow and further expand. Funds from WSCL were largely introduced as loans during the period 2012 to 2014. There were also various asset lease agreements with WSCL for the equipment used by the Company. At this stage, Wallace Stein, who was a director of WSCL, also became a director of the Company. WSCL became the majority shareholder and the loans were also secured with debentures.
Administrators' statement of proposals (2018-02-28) · Companies House register