IAS Hire Limited (SC303707): administration
- Status
- Administration ended
- Administration began
- 2011-08-19
- Administrators
- Keith Veitch Anderson, Mark Nicholas Ranson
- Administrators' firm
- Baker Tilly Restructuring and Recovery
- Formerly
- Castlelaw (No.644) Limited
- Incorporated
- 2006-06-09
- Location
- Edinburgh
- Industry
- 7134
Why it went into administration
- Property / lease costs
- Sustained trading losses
From the administrators' statement
The Administrators were advised that the company’s assets at the date of administration consisted of residual scaffolding equipment only. Management accounts for the SR Holdings Limited Group for the period to 31 March 2011 show the company had scaffolding assets with a net book value of £681,321. The company’s scaffolding assets at the date of appointment per the director’s Statement of Affairs totalled £681,321 with an estimated realisable value of £1,000.
Investigations are ongoing with regards to determining how the scaffolding on hand at the date of appointment only has a realisable value of £4,000.
Stephen Reilly is the sole director of the company. The issued share capital is £1 and the sole shareholder is SRH with 1 Ordinary share of £1
Administrators' statement of proposals (2011-10-17) · Companies House register