# P1 Finance PLC (12587327)

> Why UK company 12587327 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/12587327

- **Status:** Administration ended
- **Administration began:** 2026-04-02
- **Administrators:** Geoffrey Paul Rowley, Simon Baggs
- **Administrators' firm:** FRP Advisory
- **Incorporated:** 2020-05-05
- **Location:** London
- **Industry:** 82990 Other business support service activities n.e.c.

## Why it went into administration

- Creditor pressure / legal action

## From the administrators' statement

We understand that the Directors were unaware of the Company's financial position and did not have access to the necessary information. Additionally, they were served with a statutory demand from an unsecured creditor in the sum of £50,128 on 31 December 2025.

Given the uncertainity in respect of the Company’s financial positon, coupled with the statutory demand that had been served on the Company, the Directors instructed BTG on 26 March 2026 with a view to placing the Company into administration via a Directors appointment.

Truva were subsequently served the NOJA dated 30 March 2026, whereby the Directors were intending to appoint BTG as administrators of the Company. Consequently, Turva then excercised their rights under the powers of their qualifying floating charge within the five business day period and appointed Simon Baggs and Geoffrey Paul Rowley of FRP as administrators of the Company on 2 April 2026.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/12587327/filing-history/MzUyMzI5NDMyMWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/12587327

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