BJS Pallet Solutions Limited (08115303): administration
- Status
- Administration ended
- Administration began
- 2018-08-09
- Administrators
- Sean Williams, Philip Deyes
- Administrators' firm
- Leonard Curtis
- Formerly
- Cooperson Transport Ltd; Asec Building Services Ltd
- Incorporated
- 2012-06-22
- Location
- Leeds
- Industry
- 43220 Plumbing, heat and air-conditioning installation
Why it went into administration
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated on 22 June 2012. The Company is understood to have commenced trading after 1 July 2014, As detailed at 4.2 below, the Company filed dormant accounts demonstrating a nil turnover for the year ended 30 June 2014. The following set of accounts for the period ended 31 March 2015 indicate that the Company had generated tumover of £146k. The Company operated alongside associated companies BJS Storage Distribution Limited (“BJS”) and B Sharp Transport Limited (“BST”) until March 2017 when Administrators were appointed to both companies. According to the report issued by the Administrator of BUS and BST, these companies were placed into Administration as a result of a trade contract which had significant financial consequences for each company.
Also, based upon financial information contained within the reports filed at Companies House by the Administrators of BJS and BST, the Company acquired the combined businesses and assets of these two companies for £315k. The majority of the purchase consideration was attributed to the acquisition of the intangible assets of both companies, comprising goodwill (£38k), and work in progress (£186k). The remaining value was attributed to owned and financed assets, but with the latter it does not appear that the underlying finance agreements were ever settled or that the agreements had any equity available. The Company paid for these assets on deferred terms agreed with their Administrators. All consideration was paid and title to the assets transferred to the Company. At the point of sale, the Company ran a large operation in London which subsequently closed.
The Company carried on the business of providing pallet storage and distribution services. At the date of the Administration the Company employed 84 full time staff.
Administrators' statement of proposals (2018-10-10) · Companies House register