Barbary Hill Ltd (SC473079): administration
- Status
- Administration ended
- Administration began
- 2018-12-04
- Administrators' firm
- Begbies Traynor
- Formerly
- Amsn Solutions Ltd
- Incorporated
- 2014-03-20
- Location
- Glasgow
- Industry
- 45112 Sale of used cars and light motor vehicles
Why it went into administration
- Property / lease costs
- Sustained trading losses
From the administrators' statement
Barbary Hill Ltd (“the Company”) was incorporated on 20 March 2014 by Scott Nicolson under the name AMSN Solutions Ltd before a resolution was proposed on 20 May 2015 to change the Company name to its current form. The Company was formed for the purpose of restoring and selling vintage Jaguar motor vehicles, as well as sourcing these cars globally for private clients, typically high net worth individuals. The business specialised in particular in 1960s and 1970s E Type Roadster restoration.
The Company had four employees each with specialist skills to carry out restoration works. The services of a number of sole traders and subcontractors were also used. The Company operated from two leasehold units in Doddington, Lincoln. Rent was paid until 1 January 2019 (the leases have been sutrendered and the premises handed back to the landlord). Banking facilities were provided by Lloyds Banking Group ple, who provided an overdraft of £20,000. This was personally guaranteed by the director. No debenture was granted over the Company.
Trading had been successful in previous years with tumover in the 17 month period up to 31 August 2017 of £343,328 which resulted in a profit of £29,235. The following financial year reflected difficulties with a loss of £156,567 recorded in the management accounts to the financial year end 2018.
Administrators' statement of proposals (2019-02-06) · Companies House register