Sycamore Aviation Ltd (07430345): administration and why it failed

Sycamore Aviation Ltd (07430345): administration

Status: Administration ended
Administration began: 2014-10-22
Administrators: Ian William Kings, Steven Phillip Ross
Administrators' firm: Baker Tilly Restructuring and Recovery
Incorporated: 2010-11-04
Location: Newcastle upon Tyne
Industry: 33160 Repair and maintenance of aircraft and spacecraft

Why it went into administration

Cash flow / liquidity pressure
Creditor pressure / legal action

From the administrators' statement

Relevant extracts from the company’s management accounts are summarised below

For the year ended 31 March 2014 2014

£°000 TURNOVER 591 Cost of sales (573) GROSS PROFIT 18 Administrative expenses (452) OPERATING PROFIT (434) Interest payable and similar charges (40) Exceptional items (360) PROFIT ON ORDINARY ACTIVITIES (834)

Administrators' statement of proposals (2014-12-19) · Companies House register

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