# Premier Payroll Solutions Ltd (07283016)

> Why UK company 07283016 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/07283016

- **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

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/07283016/filing-history/MzE1NzM2ODk4MWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/07283016

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