Global Heat Source Limited (07031479): administration
- Status
- Administration ended
- Administration began
- 2016-03-03
- Administrators
- Ian Mcculloch, Dean Watson
- Administrators' firm
- Begbies Traynor
- Formerly
- BAS (Two Hundred and Thirty Four) Limited
- Incorporated
- 2009-09-27
- Location
- Preston
- Industry
- 43220 Plumbing, heat and air-conditioning installation
Why it went into administration
- Energy costs
- Creditor pressure / legal action
- Over-expansion / investment not recovered
From the administrators' statement
The Company ts part of a group of companies known collectively as ‘The Global Group’, which includes Global Heat Source Limited (“the Company”), Global Risk Managers Limited, Global Heat Resource Limited and Globa! Solar Maintenance Limited The Directors have advised that the Company is the only trading
-3entity within the Group, other limited companies were incorporated in readiness to complete maintenance works, design works and other energy source work but never traded
The Company specialised in the installation of solar photovoltaic (PV) panels for social housing landlords and provided maintenance to the commercial and the pnvate markets The Company !s operated jointly by Mr McLinden and Mr Hoskins who were appointed Directors in 2011 and 2012 respectively The business enjoyed rapid growth with turnover increasing from £60,000 in 2012 to £12 million in 2015 as a result of the public interest the renewable energy sector It was predicted that the Company would reach tumover of circa £20 millon for the year ending 31 March 2016
Administrators' statement of proposals (2016-05-10) · Companies House register