Solar Energy 4 Free Limited (07684517): administration
- Status
- Administration ended
- Administration began
- 2012-05-25
- Administrators' firm
- RSM
- Incorporated
- 2011-06-27
- Location
- Manchester
Why it went into administration
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Energy costs
- Property / lease costs
From the administrators' statement
The Company was incorporated on 27 June 2011 by directors Adrian Thomas Cunningham and Matthew Arron Pomfrey The Company's share capital comprises of 100 ordinary shares with a nominal value of £1 each Matthew Arron Pomfrey owns 90 shares and Adrian Cunningham owns 10 shares
The Company's business plan comprised of the free installation of solar panels to houses and homes throughout the UK The homeowner would then receive reduced energy costs as a result, however the excess energy generated by the solar panels would then be feed back into the national grid The contracts allow for the generation of the energy to run for a period of 25 years post installation, at which point the panels become the property of the homeowner
The Company was set up in parallel to Solar for Everyone Limited (‘Solar’), a company under the directorship of Matthew Arron Pomfrey and Lisa Lee Pomfrey The principal was that Solar would complete the installations and invoice the Company accordingly The Company would collect the revenue in line with the above model and repay the inter company charge to Solar
Administrators' statement of proposals (2012-07-24) · Companies House register