Premier Basement Solutions Limited (08613814): administration
- Status
- Administration ended
- Administration began
- 2016-07-20
- Incorporated
- 2013-07-17
- Location
- Bristol
- Industry
- 43999 Other specialised construction activities n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Over-expansion / investment not recovered
- Credit insurance / supplier credit withdrawn
From the administrators' statement
411 Premier Basement Solutions Limited (“the Company’) was incorporated on 17 July 2013 and provided design and build services specialising in basement construction and conversion, an area of particular popularity with homeowners iooking to expand living space where traditional extensions are not necessarily possible or preferred The Company operated from office premises in Staines, Middlesex with a customer base that extended across the South East
412 The Company was able to achieve good results from incorporation, turning over £1 882m tn Its first year of trading to August 2014, recording a net profit of £240k before tax However, the rapid growth of the business resulted in management taking on staff and contractors in order to be able to fulfil contracts whilst not necessarily considering the overall infrastructure of the Company tn the context of continued and future growth
413 This is reflected in the results for the second year of trading, which reported a stgnificant increase in turnover to £3 139m but a net loss of £87k before tax
Administrators' statement of proposals (2016-08-17) · Companies House register