From the administrators' statement

A Statement of Proposals (“Proposals”) setting out how the purpose of the Administration is to be achieved will be issued to creditors as soon as reasonably practicable and certainly within eight weeks from the date of our appointment. In this case, the Joint Administrators were unable to distribute their Proposals for the Administration along with this SIP 16 report as they continue to ascertain and investigate the financial position of the Company and the reasons for the failure of the business. However, to assist creditors in understanding the affairs of the Company and the reasons for the pre-packaged sale, a brief history is set out below.

The Company was incorporated on 11 March 2018 with Patrick Prior and David Dakers appointed as the directors (“the Directors”) and they remained the Directors as at the appointment date. The Company initially issued 10 Ordinary £1 share which were held by Patrick Prior. On 11 March 2020 the Company issued further share capital resulting in 1000 Ordinary £1 shares. Following the share issue, Mr Prior and Mr Dakers each held 500 shares which remained the case at the time of the Administration.

The Company traded in Non-Destructive Testing (“NDT“) and manpower services and initially performed well following incorporation and successfully won a number of profitable contracts with blue chips companies based in the UK and overseas.

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Tvis Realisations 2022 Ltd (11249133)

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