Measure MY Energy Limited (07982530): administration
- Status
- Administration ended
- Administration began
- 2021-03-23
- Administrators
- David Ronald Elliott, Bai Cham
- Administrators' firm
- Begbies Traynor
- Formerly
- Winterstoke 101 Limited
- Incorporated
- 2012-03-08
- Location
- Chatham
- Industry
- 62090 Other information technology service activities
Why it went into administration
- COVID-19
- Brexit
- Competition / price pressure
From the administrators' statement
Measure My Energy Limited (“MME”) was incorporated on 8 March 2012 and registered in England and Wales with registration number 7982530. The Company traded in technology as a business that developed software and hardware to enable business customers to gain a detailed, granular understanding of their utility usage (primarily electricity). MME designed and manufactured a range of intelligent energy meters combined with a cloud-based energy analytics service. The Company’s intelligent energy meters are high-density devices that collect and send data, in real-time, about the energy usage of each electrical circuit and large appliances within a customer’s building. These devices enabled the Company to begin to itemise the energy consumption of a business at a circuit level and provide the required detail to enable a customer to begin analysing how they use energy.
The Company was led by its two directors, Ben Murphy (Founder and CEQ) and Richard Jay (Commercial Director) and over time a head office team (covering general administration, systems, manufacturing, installation, sales and marketing roles) was employed to help support the operation. The leased premises in Eastleigh were large enough to house key personnel and a manufacturing and storage capability.
In 2013, the Company has a turnover of £199,000, of which £44,000 was gross profit. This culminated in a loss of £35,000 as a result of the first twelve months being spent carrying out largely research and development exercises. Turnover in 2014 reached £296,000 of which £178,000 was gross profit, reducing the Company's losses to £2,000. During this first full trading year, the Company launched its own range of hardware and acquired their first corporate clients and value-added resellers to perform commercial trials. Customers proved the solution was able to uncover exceptional savings from having the knowledge of when and where they spent their money on energy. Revenue grew by 50% year on year, achieving a turnover of £389,000 by 2015.
Administrators' statement of proposals (2021-05-18) · Companies House register