# Maebill Builders & Groundworks Ltd (09552550)

> Why UK company 09552550 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/09552550

- **Status:** Administration ended
- **Administration began:** 2020-10-26
- **Administrators:** Andrew James Pear, Richard Keley
- **Administrators' firm:** BM Advisory
- **Incorporated:** 2015-04-21
- **Location:** Crawley
- **Industry:** 41202 Construction of domestic buildings

## From the administrators' statement

The Company was incorporated in April 2015 and traded as a commercial and domestic builder, groundworks and maintenance provider. It has two directors, William Prowting and Martin Dowd, who are also shareholders (owning 50% and 40% respectively) along with a former finance director, Callan Jones (10%). It traded from rented premises at Station Yard, Bowes Hill, Rowlands Castle, PO9 6BP. It had an annual turnover of £1.9m in the year ended 31 March 2019 and in previous years it had an annual turnover of approximately £1m.

The Company was funded via an invoice finance facility provided by Pulse Cashflow Finance Limited (“Pulse”) which was owed £104,679 (excluding collection and termination charges) as at 26 October 2020. Pulse holds a fixed and floating charge which was created and registered on 27 September 2019. The Company was also funded via an overdraft facility with NatWest Bank Plc with a limit of £50,000 and loans provided by Funding Circle and Fleximize of £323,998 and £22,000 respectively. In addition, motor vehicles were acquired on finance with Close Brothers Motor Finance Ltd, ALD Automotive and Aldermore Bank Plc. The directors have advised that they are collectively owed approximately £167,000 in respect of loans made to the business and they have also personally guaranteed the debts owed to Pulse and Funding Circle.

Please note the Company background and history is based on publically available information and information provided to the Administrators by the directors.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/09552550/filing-history/MzI4NjQ3MTMyNmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/09552550

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.