# Electric Future Group Ltd (13241349)

> Why UK company 13241349 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/13241349

- **Status:** Administration ended
- **Administration began:** 2024-07-12
- **Administrators:** Gareth Harris, Tyrone Courtman
- **Administrators' firm:** RSM
- **Incorporated:** 2021-03-03
- **Location:** Enderby
- **Industry:** 30990 Manufacture of other transport equipment n.e.c.

## Why it went into administration

- Competition / price pressure

## From the administrators' statement

The Company was incorporated on 3 March 2021 as an investment vehicle. Dormant accounts were filed for the year ended 31 March 2022 due to the Company not having any active trade.

On 5 May 2023, the Company purchased 100% of the shareholding in MTAG (Holdings) Limited (“Holdings”). Holdings was also the majority shareholder of MTAG Composites Limited (“Composites”) prior to the acquisition. As a result, the Company had overall ultimate controlling ownership of Holdings and Composites. Composites is a composite moulding company, producing goods for a range of industries from trading premises in Coningsby, Lincolnshire.

Alongside the share sale, an invoice discounting facility was provided to Composites by Aldermore Bank Plc (“Aldermore”), together with a Recovery Loan Scheme and a property mortgage to Holdings in relation to freehold premises. The Company provided a corporate cross guarantee for all of the above facilities, granting a fixed and floating charge to Aldermore on 5 May 2023.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/13241349/filing-history/MzQzNDUwODQ2NWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/13241349

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