Technical Lighting Solutions Limited (08166248): administration
- Status
- Administration ended
- Administration began
- 2018-07-17
- Administrators
- Andrew Mctear
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2012-08-02
- Location
- Norwich
- Industry
- 46470 Wholesale of furniture, carpets and lighting equipment
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 2 August 2012 and started trading on 1 February 2013 from a commercial unit in Cromer. It moved to premises in Norwich in September 2014 and then due to expansion the Company moved to its present location in Rackheath in late 2016. The trade of the Company was wholesale of LED lighting and control systems and its clients are architectural design companies and specialist electrical installers.
Mr Kirby joined the Company in the role of sales and marketing in December 2013, he was appointed director on 1 January 2014. Technical staff joined when the Company moved to Norwich. Mr Baldry provided book keeping services from April 2014, being appointed finance director on 1 July 2016 and his role was expanded to include managing director responsibilities when the Company moved to Rackheath. Additional administration and sales staff joined the Company in February 2017.
In March 2017 Mr Flanagan joined the Company bringing the assets and customer base of Pixelite Limited, this added additional technical skills and expanded the reach of the Company into the TV production sector. Year one had sales of £50,082 and a net loss of £10,875, year two produced sales of £263,799 with net profit of £39,187, in year 3 sales increased to £310,688 with net profits of 30,365, year four growth continued with sales increasing to £454,644 with net profits of £50,281, in year 5 sales were £641,331 with net profits of £56,055. During the final year of trading sales declined by £207,698 to £433,633 with net losses of £29,203.
Administrators' statement of proposals (2018-08-31) · Companies House register