Flexible Technology Limited (SC138019): administration
- Status
- Administration ended
- Administration began
- 2022-11-16
- Administrators
- Mark Harper, Paul Dounis, Alan Alexander Brown
- Administrators' firm
- RSM
- Incorporated
- 1992-04-29
- Location
- Edinburgh
- Industry
- 26110 Manufacture of electronic components
Why it went into administration
- COVID-19
- Rising costs / inflation
- Sustained trading losses
From the administrators' statement
Relevant extracts from the Company’s financial statements and management accounts are summarised below:
2020 2021 2022
£000 £'000 £'000 Turnover 1,421 1,353 1,240 Cost of Sales (1,237) (1,266) (1,230) Gross Profit 184 87 10 Overheads (175) (224) (276) Interest & Depreciation (17) (22) (38) Net profit / (loss) (8) (159) (304)
Administrators' statement of proposals (2023-01-06) · Companies House register