Premier Payroll Solutions Ltd (07283016): administration
- Status
- Administration ended
- Administration began
- 2016-08-19
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2010-06-14
- Location
- Salisbury
- Industry
- 64999 Financial intermediation not elsewhere classified
Why it went into administration
- HMRC / tax arrears
- Loss of a key customer, supplier or contract
- Competition / price pressure
From the administrators' statement
A tuling on PPI created an increased work load for financial institutions requiring short-tern/contract staff, and, following the production of a business plan and market research, the Company was incorporated in June 2010 by Thomas Campbell (sole director and shareholder) in response
Set up costs were funded by the director's personal funds, an office was rented at a Regus facility and the Company commenced trading in June 2012 At that time the sole employee was Thomas Campbell, who carried out all duties back, middle and front office
Funding was arranged through RBS ¢f for invaice factoring Factoring terms were 85% of invoice lending with a 065% service charge and 2 75% above base discounting margin The initial set up fee for this facility was £2,500
Administrators' statement of proposals (2016-09-14) · Companies House register