# Polar Composites Limited (05894202)

> Why UK company 05894202 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/05894202

- **Status:** Administration ended
- **Administration began:** 2011-11-09
- **Incorporated:** 2006-08-02
- **Location:** Castle Donington
- **Industry:** 2614

## Why it went into administration

- Sustained trading losses
- Rising costs / inflation

## From the administrators' statement

The Company was formed by Mr Michael Harris ("MH") and an accountant on 2 August 2006 to exploit new opportunities in carbon fibre/composites products During these early years the business developed and took on staff allowing MH to take a more market facing and technical development role but in 2007 it became apparent that the business could not support the salaries of two full time directors The other director

resigned from the Company and MH purchased the entire share capital

During 2008 turnover increased with a large marine order and new orders from F1, automotive and communication customers The order book was strong which in turn

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/05894202/filing-history/MzA0ODQ4MzEzOGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/05894202

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