APL Realisations Ltd. (06916541): administration
- Status
- Administration ended
- Administration began
- 2013-02-28
- Administrators
- John Malcolm Titley, Andrew Poxon
- Administrators' firm
- Leonard Curtis
- Formerly
- Amber Precast Ltd; MDL Meadowstone Ltd; MDL Precast Limited
- Incorporated
- 2009-05-27
- Location
- Manchester
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Bad debts / customer insolvency
- Weather / natural events
From the administrators' statement
The Company was incorporated on 27 May 2009 and commenced trading on 5 October 2009, subsequently purchasing the business and assets of Meadowstone (Derbyshire) Limited, which went into Administration on 2 October 2009 The Company traded as a manufacturer of Dry Cast and Wet Cast Stone products
The Company traded from leasehold premises situated at West Way, Somercotes, Alfreton, Derbyshire, DESS 4QJ and was initially financed by way of a factoring agreement with Bibby Financial Services Limited (“Bibby”), and also by an overdraft facility with a limit of £15k and loan of £50k in January 2010, later increased by £30k in Apnl 2011, provided by Lloyds
The first period of trading up to 30 September 2010 showed sales of £2 7M, an operating profit of £142k, although after interest and exceptional costs the profit was reported to be £41k Dunng this period, the Directors took the decision to also offer an installation service of the products in order to provide a more extensive service to clients
Administrators' statement of proposals (2013-05-08) · Companies House register