Wed, 02 Aug 2023 | ADMINISTRATION
An electrical contracting firm based in Lincolnshire has fallen into administration after posting two separate notices of intention to appoint administrators (NOI) in July. Active Electrical Services (AES) is based in Stamford, Lincolnshire and employed an average of 11 staff last year, according to recent financial accounts.
The company appears to have been struggling for some time, having filed NOIs on July 3 and July 14, as it sought protection from its creditors. According to the company’s accounts for the year ending June 30 2022, it owed creditors close to £390,000 and had two outstanding charges against its from the Royal Bank of Scotland (RBS) and Aldermore Bank.
The firm, which was founded in 2014, has now moved to appoint joint administrators Charles Ranby-Gorwood and Arabella Ranby-Gorward of CRG Insolvency & Financial Recovery. The joint administrators will handle the day-to-day operation of the company.
The company carries out work on contracts for both domestic and commercial clients, as well as being an approved contractor used by landlords to carry out electrical safety checks and testing on their properties.
In AES’s accounts for the year to June 30 2022, its fixed assets were valued £7,575 and current assets at £359,427, down from over £0.5 million a year earlier. The company’s debts to its creditors, however, left it with net liabilities of close to £220,000 at the time of filing.
Read about rising UK insolvency figures.
This well-established Hampshire-based precision engineering and machining business offers unique solutions across diverse industries, bolstered by vendor approval in aerospace and ISO9001:2015 certification, ensuring high-quality products and service...
An opportunity to acquire a thriving company specialising in renewable biomass energy systems located in the East Midlands.
This is a rare opportunity to acquire a long-standing company with expertise in civil engineering and waste management, operating successfully since 2009.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.