From the administrators' statement

Quantuma Advisory Limited were first approached by the Company in September 2022 and subsequently instructed on 14 October 2022.

Following a review of the financial position together with various discussions with the Directors it was established that the Company was insolvent on both balance sheet basis and cash flow basis, as the Company could not pay its debts as and when they fell due.

It had been decided to place the Company into Administration via a pre-packaged administration sale as there was insufficient working capital and no prospect of persuading new funding to allow medium-term trading to continue in order that the business and assets could be exposed thoroughly to the market.

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Falci Construction Ltd (12673566)

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