FL One Limited (09660304): administration
- Status
- Administration ended
- Administration began
- 2017-06-12
- Formerly
- Flipper Ltd; Flipper UK Ltd
- Incorporated
- 2015-06-29
- Location
- London
- Industry
- 63110 Data processing, hosting and related activities
Why it went into administration
- Weather / natural events
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Sustained trading losses
- Energy costs
From the administrators' statement
The Company operated in the domestic electricity and gas industry and provided an automated switching service of domestic energy supply, switching customers to the cheapest supplier available and saving them money for a small annual fee.
The Company was funded by a combination of Share Capital and Share Premium, totalling £1,227,800, and Director Loans, totalling £273,000. These figures have been taken from the most up to date non-audited management accounting information provided by BMSL.
Customers were charged an annual fee of £25, on which the Company would review the information provided in energy bills and identify if there was a cheaper tariff which would have saved a guaranteed minimum of £50 over the course of the year.
Administrators' statement of proposals (2017-08-07) · Companies House register