K.C.A.P.S Ltd (07715546): administration
- Status
- Administration ended
- Administration began
- 2019-09-12
- Incorporated
- 2011-07-22
- Location
- Altrincham
- Industry
- 71129 Other engineering activities
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
The Company traded in the energy market working specifically with ‘A shade Greener’ in relation to the implementation of solar panels and recruiting / training field sales advisers. The Company was Set up by 3 former employees of an energy company, Mr Paul Melia, Raj Dave and Sandip Patel who each held circa one third of the shares.
Initially the Company traded successfully but difficulties arose in the 2016/2017 financial year when outgoings exceeded income, mainly due to a change in a contract which became less profitable. Debts increased and so the 3 directors reduced wages and took out a business loan of £47,380 on 29 September 2016 over a 60-month period from Funding Circle, in order to repay VAT.
One of the directors, Mr Patel was less active from the start of 2017 as he was involved in other businesses / activities. At the end of March 2017, Mr Patel agreed to leave the business, meaning the other 2 directors could have additional income.
Administrators' statement of proposals (2019-11-15) · Companies House register