Signlex Limited (06283417): administration
- Status
- Administration ended
- Administration began
- 2019-02-20
- Administrators
- Joanne Louise Hammond, Kris Anthony Wigfield
- Administrators' firm
- Begbies Traynor
- Formerly
- Simon Belton Limited
- Incorporated
- 2007-06-18
- Location
- Sheffield
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Competition / price pressure
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated in June 2007 by the incumbent management and in more recent years traded from leased premises Unit 12, Maybrook Industrial Park, Armley Road, Leeds LS12 2EL providing innovative, high quality signs to all sectors, at competitive prices employing 18 staff, including the director and Company secretary. The company designed signs and used a combination of in-house production and external specialist resource as required. It employed a two-person fitting crew and sub-contracted installation work beyond in-house capacity as and when required.
The business was originally financed by a loan from the director in the sum of £20,125. The company had no bank or overdraft facility but operated an invoice finance account with HSBC IF and financed various assets which were backed by personal guarantees from the director.
Originally the business traded under the name of the director, Simon Belton Limited T/A ‘Simon Belton Signs’ and functioned without business premises. In 2010 the company changed its name to Signiex Limited and started to recruit and moved into managed offices. At this point and for the following four years the company continued to design and sub-contract all production and installation work. Over the years the business began to grow with turnover reaching £1.4m and circa £1.6m for the accounting years 2016 and 2017 respectively. The Company secured various customers over a number of sectors including Education, Healthcare, Hospitality Industry and retail. The Company traded in the UK and on rare occasions supplied signs when required to Europe and Africa.
Administrators' statement of proposals (2019-05-14) · Companies House register