Norvap Engineering Ltd (07642741): administration
- Status
- Administration ended
- Administration began
- 2018-10-16
- Administrators
- Lisa Marie Moxon, Christopher Benjamin Barrett
- Administrators' firm
- Dow Schofield Watts
- Formerly
- Acies Engineering Ltd; Gostling Bros Ltd.
- Incorporated
- 2011-05-23
- Location
- Daresbury
- Industry
- 32500 Manufacture of medical and dental instruments and supplies
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Sustained trading losses
- Weather / natural events
From the administrators' statement
The Company was incorporated on 23 May 2011 with Philip Gostling appointed as sole director and shareholder of the Company. On 28 May 2012 Joanne Gostling was appointed as a director of the Company and remained as such until 23 November 2015 when she resigned.
The Company remained dormant until 31 May 2011 after which it commenced trading manufacturing parts to be included within veterinary and medical vaporisers for anaesthesia equipment. The primary customer of the Company was Norvap Ltd. (“Norvap”) who incorporated the parts in to vaporiser machines and sold the products to third party customers. Norvap is a connected company by virtue of the common directorship and shareholding of Philip Gostling. Trading was initially carried out from rented premises at Unit 11a Sandylands Business Centre, Carleton New Road, Skipton, BD23 2AA.
The initial working capital requirements for the Company were funded by various connected companies through loan accounts. To assist with ongoing cash flow requirements, the Company also obtained a loan in the sum of £100,000 from Assetz Capital Trust Company Limited (“Assetz”). Fixed and floating charges were granted to Assetz on 13 November 2013 as security for the loan. Assetz remains a creditor for £4,594.
Administrators' statement of proposals (2019-01-04) · Companies House register