yacht solutions europe ltd

Yacht Solutions Europe Limited

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• Company No. 13124061

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YACHT SOLUTIONS EUROPE LIMITED

YACHT SOLUTIONS EUROPE LIMITED is an active private limited company , incorporated on 11 January 2021 . The nature of the business is Repair and maintenance of ships and boats . The company's registered office is on Ashleigh Way, Plymouth . The company's accounts were last made up to 31 January 2023 , are next due on 31 October 2024 , and fall under the accounts category: Total Exemption Full . YACHT SOLUTIONS EUROPE LIMITED has no previous names. The company has one mortgage charge, which is currently outstanding.

Company Information

Registered office, confirmation statement, nature of business (sic codes), company name history.

• Current Director
• Gives occupation as DIRECTOR
• Usually resident in ENGLAND
• Usually resident in UNITED KINGDOM

Shareholders

• Owns between 25% and 50% of the shares.
• Holds between 25% and 50% of the voting rights.

Connections

• MR PAUL STEVEN ECCLES
• MR DAVID JAMES WATSON

YACHT SOLUTIONS EUROPE LIMITED: Maps

Maps show the location of the postcode of the registered office, PL7 5JX.

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Plymouth boat fitter working for Princess Yachts falls into administration with debts of £500k

Yacht Solutions Worldwide Ltd sold its assets to new company Yacht Solutions Europe Ltd in a pre-pack deal. but debts remain

• 05:00, 30 DEC 2022

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Debts amounting to hundreds of thousands of pounds are likely to remain unpaid after a Plymouth boat refit company set up by two former Princess Yachts employees fell into administration, it can be revealed. Turnchapel-based Yacht Solutions Worldwide Ltd has been in the hands of administrators for more than 18 months after struggling through the Covid pandemic and being saddled with a huge tax bill, leaving insolvency practitioners sorting through more than £500,000 of claims.

The insolvency has been extended until April 2023 but the outlook for unsecured creditors already looks bleak with administrators saying there is unlikely to be enough cash to pay them anything. However, Yacht Solutions Worldwide sold its entire assets and business to a new company, Yacht Solutions Europe Ltd, in a pre-pack deal.

The new company is run by the same directors, Paul Eccles and David Watson, who admitted to making mistakes running Yacht Solutions Worldwide, and also trades from Turnchapel Wharf. Pre-pack deals are legal and the administrators said it was the best solution for creditors as the assets were sold for £60,000, which was more than a going concern sale or liquidation would have realised.

Nevertheless, debts are likely to remain unpaid. Already claims of £184,062 have come in from six unsecured creditors, and it is possible that another 23 will submit claims for a total of £69,542.

Among unsecured claims NatWest bank is seeking £12,244 and among Plymouth businesses listed as owed cash are Elec Marine, owed £2,019, and Turnchapel Wharf Ltd, asking for £1,363. A recently filed report from administrator Steven Henson, at Newton Abbot’s Castle Hill Insolvency Ltd, said: “I do not anticipate that a dividend will be available for unsecured creditors.”

Documents filed at Companies House revealed assets of £108,300 were actually available. But the administrators said only preferential creditors are likely to get anything.

HM Revenue and Customs is claiming £203,061 in unpaid VAT and income tax, with £138,245 of this as a preferential creditor. It is also claiming £30,752 as an unsecured creditor. So it is unlikely to receive all of what it is owed. In addition to the unsecured claims Barclays Bank is due £90,574 as a secured creditor but is likely to be paid just £17,500.

Documents filed at Companies House reveal the entire saga of how Yacht Solutions Worldwide hit the skids, and how Yacht Solutions Europe was able to take over and why its directors are confident it won’t go the same way. The administrators’ statement of proposals revealed Yacht Solutions Worldwide was incorporated in April 2018 after Mr Eccles and Mr Watson left Princess Yachts, which nevertheless continued to provide most of its work.

Yacht Solutions Worldwide specialised in retrofit of yachts in this country and internationally. But it found itself in financial difficulties with a “significant debt” owed to HM Revenue and Customs.

The report said: “While the business and customers need for work to be continued, the Covid-19 pandemic hindered the ability to undertake this work for a number of reasons, resulting in reduced income.” It said the company struggled to obtain materials on time, that staff went off sick or could not turn up for work due to Covid restrictions and travel restrictions hit it too.

The company received a CBILS loan for £110,000 in November 2020. The report said: “While the income supported short-term cash flow, the ability to agree and acceptable repayment with HMRC, as well as securing the business going forward financially, became untenable.”

It said the directors thought insolvency was unavoidable, and although a company voluntary arrangement (CVA) was favoured it was deemed to be unworkable “given the position of the HMRC” and because there would not have been enough cash to pay a “reasonable dividend”.

A creditors’ voluntary liquidation was also considered but rejected and “to achieve the best return for creditors” a going concern sale was settled on. Because there wasn’t enough money to continue trading, including significant staff costs, the directors went for the “pre-pack” style liquidation.

It was estimated the pre-pack sale would bring in £60,000, which was more than realised by a going concern sale or liquidation. The purchaser bought the assets with the exception of debtors and cash at the bank.

It was reported that two offers had been made for the company and the one accepted was 33% higher than the alternative. As the company had insufficient property to enable anything to be paid to unsecured creditors, the administrator did not need them to agree to this course of action.

Yacht Solutions Ltd produced a viability statement in April 2021, signed by Mr Watson and Mr Eccles, which said: “As business owners, mistakes were made, and bad advice received in the previous company which will not be repeated again.”

But they said they were confident the new company would be a success because it had strong contracts with Princess Yachts and was diversifying the business. It said: “Our reliance on Princess is reducing.” It also said professional accountancy and financial help had been secured and that: “The demand in the industry is high”.

In April 2021 Mr Eccles and Mr Watson gave creditors notice they intended for the trading name Yacht Solutions to be adopted by Yacht Solutions Europe, of which they were also directors. Yacht Solutions Europe was incorporated in January 2021. Accounts for its first year showed assets of £10,705.

The Yacht Solutions website said it has a team of 18 highly-skilled technicians. It said: “We work very closely to the (Princess Yachts) factory supporting all the trades for the aftersales and retrofit departments both locally and internationally.

“We have a very knowledgeable team with many years experience of yacht construction across a very wide range of boat models. Our newly opened premises has a fully fitted workshop, spray booth, upholstery shop, store room and offices, this is where we will be offering our wide range of services, from large retrofit works, repairs, PDI’s, ceramic coatings and much more.”

The website also said: “We are also in talks with setting up the business in other countries giving us the scope to assist all areas of the globe.” PlymouthLive has contacted Yacht Solutions Europe but not received a reply at the time of writing.

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• Repair and maintenance of ships and boats

YACHT SOLUTIONS EUROPE LIMITED

Private limited company (Ltd.)

2 Shareholders View all shareholders »

Repair and maintenance of ships and boats (33150)

Transport Equipment For Valuable Goods Manufacturing

YACHT SOLUTIONS EUROPE LIMITED is a Private limited company (Ltd.) company based in 7 SANDY COURT ASHLEIGH WAY LANGAGE BUSINESS PARK, United Kingdom, which employs 16 people. The company started trading on 11 January 2021. The company registration number is 13124061, It’s main line of business activity is Repair and maintenance of ships and boats, and the company is listed as Active. According to the latest confirmation statements submitted on the 2022-01-31, there are currently 16 directors.

Contact information

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7 SANDY COURT ASHLEIGH WAY LANGAGE BUSINESS PARK , PL7 5JX , United Kingdom

United Kingdom

Financial statements of YACHT SOLUTIONS EUROPE LIMITED

According to YACHT SOLUTIONS EUROPE LIMITED latest financial report submitted on 2022-01-31, the company has a Cash of £23,721.00 , Total-Assets of £231,781.00 while the Working-Capital is -£22,277.00 . Compared with the previous year, the company reported a Cash increase of 0.0% , which is an equivalent of 0 . At the same time, the Total-Assets went down by 0.0% , or by 0 .

Consolidated A/cs

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Reporting period, working capital, profit after tax, yacht solutions europe limited business credit report.

A Business Credit Report for YACHT SOLUTIONS EUROPE LIMITED is available for instant download. The report will provide you with a credit score and credit limit recommendation for YACHT SOLUTIONS EUROPE LIMITED , payment trends, if the company pays their Invoices on time, whether or not the company has any court judgements, ownership and group structure, up to 5 years of financial statements and much more. When you buy a Credit Report from Global Database, you will also have a 7 days free trial to our B2B Sales Platform.

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YACHT SOLUTIONS EUROPE LIMITED Directors and key executives

YACHT SOLUTIONS EUROPE LIMITED currently employs 16 people. In order to view contact information, including emails and phone numbers for all the employees working at YACHT SOLUTIONS EUROPE LIMITED and to export them in XL or to your existing CRM, you can subscribe to our platform here .

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Total employees, management level.

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Get in touch with 3 of contacts working at YACHT SOLUTIONS EUROPE LIMITED

YACHT SOLUTIONS EUROPE LIMITED Shareholders

There are currently 2 people with significant control at YACHT SOLUTIONS EUROPE LIMITED . One of of major shareholders of YACHT SOLUTIONS EUROPE LIMITED is DAVID JAMES WATSON , which owns 10 ORDINARY shares, with a total value of 10 GBP and PAUL STEVEN ECCLES , which owns 10 ORDINARY shares, with a total value of 10 GBP .

YACHT SOLUTIONS EUROPE LIMITED competitors:

Top 5 similar companies of YACHT SOLUTIONS EUROPE LIMITED are PALFINGER MARINE UK LIMITED , ANCASTA YACHT SERVICES LIMITED , T.A.FLAVELL & SON LIMITED , BRUCE BANKS SAILS LIMITED , MACGREGOR MARINE SERVICE UK LIMITED . View and export all the competitor list of YACHT SOLUTIONS EUROPE LIMITED by upgrading your account here .

PALFINGER MARINE UK LIMITED

Ancasta yacht services limited, t.a.flavell & son limited, bruce banks sails limited, macgregor marine service uk limited, yacht solutions europe limited news & activities:.

The YACHT SOLUTIONS EUROPE LIMITED-based company said the adjusted EBITDA is now £26,376.00, compared with the previous year of 26376.

uk.globaldatabase.com

YACHT SOLUTIONS EUROPE LIMITED number of employees has decreased by % compared with previous year and now represents a total number of 16.

Frequently Asked Questions regarding YACHT SOLUTIONS EUROPE LIMITED

Where is yacht solutions europe limited registered office.

YACHT SOLUTIONS EUROPE LIMITED is located at 7 SANDY COURT ASHLEIGH WAY LANGAGE BUSINESS PARK, United Kingdom.

How many people work at YACHT SOLUTIONS EUROPE LIMITED?

According to the latest account statement, there are currently 16 of employees working for YACHT SOLUTIONS EUROPE LIMITED.

What is YACHT SOLUTIONS EUROPE LIMITED EBITDA?

For 2022, YACHT SOLUTIONS EUROPE LIMITED has reported an EBITDA of £26,376.00, which went down by 0.0% compared to previous year.

What is the Business Credit Score of YACHT SOLUTIONS EUROPE LIMITED and how reliable is the company?

In order to check the business credit score of YACHT SOLUTIONS EUROPE LIMITED, you can request a credit report. You will view the latest credit limit information, ownership, group structure, court judgements and much more.

Does YACHT SOLUTIONS EUROPE LIMITED pay their invoices on time?

By requesting a Business Credit Report for YACHT SOLUTIONS EUROPE LIMITED, you will be able to gain more insights about the YACHT SOLUTIONS EUROPE LIMITED payment trends.

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STL's Optical Connectivity solutions pave the way for digital connectivity in Europe

MUMBAI, India and BERLIN, March 21, 2024 /PRNewswire/ -- STL (NSE: STLTECH), a leading optical and digital solutions company, today shared the impact of its custom-designed Optical Connectivity solutions for its marquee customers in Europe, at the FTTH Conference 2024 in Berlin, Germany. With its extensive focus on Digital Decade 2030, 81% of the EU population now has access to 5G, while fibre networks are accessible to ~50% of the population and accelerating strongly. This demonstrates the pace and scale of network build-outs in the region and opens up the path to 100% coverage by 2030. Optical Connectivity products, such as terminals, connectors, and enclosures, play a pivotal role in taking fibre connectivity to the premise level, providing scalable solutions to de-skill field installations, and speeding up the fibre deployment process. STL is one of the few players with end-to-end capability across the fibre value chain, starting with glass preform, different single-mode fibre types, cables and finally, Optical Connectivity solutions. This enables the company to purpose engineer solutions that solve specific customer challenges. With over two decades of R&D experience, STL is well-equipped to meet the demands of various network architectures. These solutions have found tremendous success with top service providers across the European region. Some of these solutions include: • Opto-CRS terminals: Co-designed and deployed for one of the largest service providers in the region, Opto CRS is an IP68 Enclosure used for underground and aerial Networks. IP68 rating ensures these boxes are shielded against all above-ground and underground elements. It also ensures high compatibility across different network architectures (underground and aerial), leading to a longer network life and reduced costs, due to a double-layered sealing mechanism that excludes all human error factors. • Compact Optical Ribbon Closures (CORC): Optimised for aerial and underground deployment, CORC was designed for a leading alternate service provider, along with intermittent bonded ribbon (IBR) cables. This made the installation process easier and faster. This helped them achieve 25% faster installation with seamless central office-to-premise connectivity, realising benefits like scalability and agility, lower total cost of ownership, and extended network lifetime (up to 30 years). • Opto-Bolt Connector with Drop cable: A simplified plug-in-a-box solution that replaces field manual labour, for example, rare splicing skills, and saves time for large-scale deployments. It brings modularity to network design through its plug-and-play features and simplifies field operations for large-scale deployments. STL designed the Opto-bolt connector in combination with a drop cable, for one of the largest network operators, wherein a round cable was used instead of a flat one, for easier handling and installation. In the terminal, the connector ports had a step design for optimised port identification. All connectivity is pre-installed in the factory. Factory labour is easier to scale with the deployment rates while maintaining high-quality standards, as each product is tested before being shipped to the field. Commenting on STL's Optical Connectivity portfolio, Rahul Puri, Regional Sales Head, STL, said, "We are passionate about transforming billions of lives by connecting the world. Our end-to-end optical solutions, including Optical Connectivity, are taking our purpose forward every day. It is heartening to see the impact they are creating for our customers. As we move forward, we will stay highly focused on designing and developing solutions that will solve our customers' problems in the most meaningful ways." About STL - Sterlite Technologies Ltd: STL is a leading global optical and digital solutions company providing advanced offerings to build 5G, Rural, FTTx, Enterprise and Data Centre networks. Read more, Contact us, stl.tech | Twitter | LinkedIn| YouTube For more information, contact: Media Relations Soumi Das Phone: +91 7028466673 [email protected] Investor Relations Chetan Wani Phone: +91 9712975633 [email protected] Logo: https://mma.prnewswire.com/media/876464/Sterlite Technologies STL New Logo.jpg (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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YACHT SOLUTIONS EUROPE LIMITED

Company number 13124061

• Company Overview for YACHT SOLUTIONS EUROPE LIMITED (13124061)
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Charge code 1312 4061 0001.

Satisfy charge 1312 4061 0001 on the Companies House WebFiling service

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