# RPS Assets Limited (06357893)

> Why UK company 06357893 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/06357893

- **Status:** Administration ended
- **Administration began:** 2012-01-17
- **Administrators:** Jamie Playford
- **Administrators' firm:** Acuity Professional Partnership
- **Formerly:** Redwood Power Systems Limited
- **Incorporated:** 2007-08-31
- **Location:** Norwich
- **Industry:** 5245

## Why it went into administration

- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Energy costs
- Cash flow / liquidity pressure

## From the administrators' statement

The Company was incorporated on 31 August 2007 and its main activity was the supply and installation of industrial and commercial lighting products, specifically SMD and LED products that help reduce carbon emissions and reduce electricity costs

The Company achieved a smalt turnover of £12k in the year to 31 August 2009 The following year turnover increased to £202k, however the Company suffered a loss of £130k due to overruns, increased order costs and high overheads It was believed that the Company would be profitable in future years as turnover grew but overheads would remain stable

In 2011 the Company secured an indicative funding offer from tts bankers, Natwest, to increase growth in the Company The Company tendered for orders for around £500,000, of which around 75% were expected to be won However the funding arrangements were unable to be completed and the Company was unable to fulfil the orders

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/06357893/filing-history/MzA1MjgyMTAyMmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/06357893

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