Fleetteq Limited (08996056): administration
- Status
- Administration ended
- Administration began
- 2024-01-17
- Administrators
- Bai Cham, Jonathan James Beard
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2014-04-14
- Location
- Chatham
- Industry
- 45200 Maintenance and repair of motor vehicles
Why it went into administration
- HMRC / tax arrears
- Property / lease costs
- COVID-19
- Loss of a key customer, supplier or contract
- Cash flow / liquidity pressure
From the administrators' statement
Fleetteq Limited was incorporated on 14 April 2014 by the current director, Matthew Maitland as a mobile commercial vehicle fleet maintenance provider. Mr Maitland was the sole technician initially providing support to Balfour Beatty with their HGV fleet on hire to Highways England on the M25 contract. The main work he was providing was the MOT preparation and presentation of the HGV fleet carrying out this work on site at their Sunbury depot. He also provided additional support with on-site inspections, repairs as well as assistance with the winter maintenance fleet during the summer service period. In addition, Balfour Beatty offered the director the MOT work for the Area 4 highways vehicles. This was when Mr Maitland found workshop space to carry out this work along with collecting the vehicles from the M25.
To this day, the Company has continued to support Balfour Beatty with its MOT’s and other maintenance requirements in the south east as well as other areas. After two years working alone, Mr Maitland was approached by Enterprise Flex-E-Rent (“Enterprise”) - still in their early stages after the acquisition of Burnt Tree Vehicle Hire, to assist them with some HGV maintenance. This was the point that he recruited his first employee to allow him to cover this additional work. Soon after work started with Enterprise, the demand for the Company’s services grew at a rapid rate such that 6 months later, a second engineer was recruited, and a third engineer was added in February 2017, with the director continuing to work as one of the engineers.
Through the work that the Company was doing for Enterprise, the director secured work from a new customer HATS, which was mainly carrying out on-site inspections and servicing to their patient transport fleet in London. At this point, the director recruited someone in the office to assist with invoicing, planning and other administrative functions. By January 2020, the Company had employed 7 engineers including the director with 75% of turnover being generated from work coming from Enterprise. In February 2020, the Company signed a lease on a workshop based in Ashford, Kent to enable the Company carry out larger jobs that required vehicles to be removed from site, and just before the first COVID Lockdown, an additional member of staff was recruited to assist with the financial aspects of the business as well as administration of the workshop.
Administrators' statement of proposals (2024-03-13) · Companies House register