Ttsaw Limited (08781962): administration
- Status
- Administration ended
- Administration began
- 2015-10-16
- Administrators
- Andrew Howard Beckingham, Conrad Alan Beighton
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2013-11-19
- Location
- Bristol
- Industry
- 77390 Renting and leasing of other machinery, equipment and tangible goods n.e.c.
Why it went into administration
- Rising costs / inflation
- HMRC / tax arrears
- Creditor pressure / legal action
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated on 19 November 2013 and commenced trading in Apni 2014, following an acquisition of the business and assets of Turbine Tooling Solutions Limited from tts Administrators The total purchase price relating to the acquisition was £60,000, which was settled on a deferred payment basis to assist the Company in its initial trading and cash flow requirements
The Company operated from leasehold premises at Unit 28 Top Barn Business Centre, Worcester Road, Holt Heath, Worcester, Worcestershire, WR6 6NH The pnncipal trading activity of the Company was toolmaking, specialising in bespoke design and manufacture of mould tooling for customers within the both the UK and Europe
The Company initially traded successfully and boasted a full order book Funding was utilised by way of a Factoring Agreement with Ultimate invoice Finance Limited (“Ultimate”) The Company also utilised asset finance facilites with Close Asset Finance Limited (‘Close’) in order to service plant and machinery requirements
Administrators' statement of proposals (2015-12-18) · Companies House register