Aero Engineering & Powerplant Limited (06748577): administration
- Status
- Administration ended
- Administration began
- 2013-04-22
- Administrators
- Ranjit Bajjon, Malcolm Peter Fillmore
- Administrators' firm
- Kroll
- Incorporated
- 2008-11-13
- Location
- Crawley
- Industry
- 71200 Technical testing and analysis
Why it went into administration
- Property / lease costs
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
11 The Company was formed in November 2008 and has been run on a day to day basts by a skilled licensed Engineer, Neil Andrews, who 1s the Company's sole director The Company is owned by Aerobatic Displays Limited (45%), Mr Keith Engelbrecht (45%) and Mr Nei! Andrews (10%) The majonty of the funding of the business has come from Aerobatic Displays Limited and Mr Keith Engelbrecht Aerobatic Displays Limited secured their indebtedness by a fixed and floating charge dated 24 July 2009
42 The Company operated from a modem trading estate near Wokingham compnising a workshop, engine testing bay, spray shop and stores, and two offices The employees compnse Neil Andrews plus two other full ttme engineering staff At its peak, the Company employed 5 staff but the general reduction in actrvity led to the present staffing Neil Andrews dealt with all administrative matters with the assistance of a bookkeeper who attended once a week
13 It was onginally intended for the business to specialise in enhancing the performance of engines for racing and aerobatic aircraft The shareholder and charge holder, Aerobatic Displays Limited, became involved with the intention for the Company to asstst them in Red Bull Air Racing Events However, when the racing event was cancelled in 2011 and 2012, the majonty of the Company’s business became focussed towards servicing and repasring standard Lycoming and Continental engines for ordinary general aviation arcraft, primaniy for flying clubs, training organisations and similar, particularly where there remains a need for tegular overhauls etc However, this required the Company to charge standard market prices in a competitive market
Administrators' statement of proposals (2013-06-18) · Companies House register