Essex contractor bankruptcy

[Tim G]

SKEGGS AGRI LIMITED filing history - Find and update company information - GOV.UK

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Look at the Administrators’ Reports.

Briefly looking at that am I right in thinking the beef side collapsed and as the contracting sides largest customer, the contracting got pulled under too?

 

[Highland Mule]

Briefly looking at that am I right in thinking the beef side collapsed and as the contracting sides largest customer, the contracting got pulled under too?

Perhaps, but this is no simple case at all, and there is certainly some suspicion that the end result is beneficial to the family. Intriguing to note that the largest shareholder in the beef side is not one of the family but seems to be their accountant.

 

[teslacoils]

£120k of solicitors, agents and asdministrators fees. Sigh.

 

[holywell farmer]

I think that's a diplomatic way of saying that they were told quite bluntly where to go by the farm owner when the administrators wanted to harvest it with no intention of paying the rent etc!

That's a lot land to lose crop on

 

[Johnnyboxer]

That's a lot land to lose crop on

They harvested 200 acres somewhere else though,it says in the documents

 

[Farmer Roy]

Have you ever been owed money by a company that goes bankrupt ? You might soon take a different view than " oooh shinny tractors"

a different situation, but nearly 20 years ago I was owed $100,000 by a grain trader who went bust. A couple of years later, after the liquidators, banks & tax office got their cut, I ended up with $5000 . . .
It still hurts

 

[Farmer Roy]

This year is the calm before the storm. We are living on a reasonably good harvest. Next year will be the pinch point. Nothing drilled here, most of the rape failed. Where is next year's income coming from? Stacking shelves at Tescos or driving a van maybe. Hatches well and truly battened down here, spending as little as possible.

A year ago, which was six months after father passed away the bank unilaterally closed our business account. In five days I had to persuade another bank to take us on and get everything up and running again. We hadn't even borrowed any money and had no debts, and actually well in credit but you just never know what can suddenly almost cripple your business.

it’s hard . . .

been like that here for the last 2, going on 3 years . . .

 

[PB1507]

£120k of solicitors, agents and asdministrators fees. Sigh.

Good news though, they found someone to buy the business assets. Seems like a bargain.

 

[principal skinner]

That's a lot land to lose crop on

On the land owners side or the contractors? If I was the land owner and I thought I wasn’t going to be paid for the crop I would also tell the contractor to feck off, better they go bust than me!

 

[oil barron]

What’s the legal position on a LTD company gifting tenants improvements to an individual? Seems a bit dodge.

 

[ollie989898]

Contractoring is more addictive than Heroin!!!!!!

Absolutely ridiculous.

Heroin is far cheaper and less deleterious to your health....

 

[betweenthelines]

Amazed that more contractors aren't going bust. If TFF is anything to by, there are only two types of contractor-those that constantly say they aren't making any money and those that have no idea how much it costs to run a machine 'cos every time they do a job they post a new "How much should I charge for......." thread

 

[principal skinner]

We are owed 5k for beef animals from ten years ago, the person in question is now a salesman for a local machinery dealer, funnily enough he hadn’t dropped in for a chat yet to see if we need anything. I’ve a long memory and my day will come

 

[essexpete]

We are owed 5k for beef animals from ten years ago, the person in question is now a salesman for a local machinery dealer, funnily enough he hadn’t dropped in for a chat yet to see if we need anything. I’ve a long memory and my day will come

Ask for a quote on something from the offender's boss.

 

[som farmer]

chatting to our accountant at dairy event, passed comment about shiny machienery, how much could we save, by doing more ourselves, answer, we do a lot of contractor's accounts, they aren't making any money, why do you think you can do it cheaper ? I would argue some, but all major work, he's right. We have enough money tied up in the live and deadstock as it is, The farmers owing money to bankrupt, will be pursued with vigour.

 

[ARW]

chatting to our accountant at dairy event, passed comment about shiny machienery, how much could we save, by doing more ourselves, answer, we do a lot of contractor's accounts, they aren't making any money, why do you think you can do it cheaper ? I would argue some, but all major work, he's right. We have enough money tied up in the live and deadstock as it is, The farmers owing money to bankrupt, will be pursued with vigour.

Great post!
You might have to do it all yourself if all contractors go bang!

 

[som farmer]

Great post!
You might have to do it all yourself if all contractors go bang!

the answer is, get your farming system sorted, right down to dog and stick farming, then workout what pays best, with least amount of money tied up, if you don't spend it, you aint got to earn it. On a serious note, I think farming in the UK, has got far to complicated, and I will admlt to the same. We have been encouraged to produce more, get more efficient, invest for the future etc, or simply put, run a lot faster, to stay in the same place, Basic profit margins haven't really moved for years, but I expect our machinery spend has quadrupled, or more. What has it achieved ? The arable chaps, buy combines, drills, tractors. and other kit, for £10,000's, and then look out for more acres to 'spread the cost'. As livestock farmers, we buy mixer wagons, tractors, machines to spread ever increasing amounts of poo, from our ever increasing numbers of cattle, which, we are told, will help spread the costs over more cows. I have no answers, and am guilty of above, but, I do know, if prices for our produce don't increase, there's going to be a lot more than contractors will go, simply because we aren't making enough money to pay them.

 

[jack6480]

the answer is, get your farming system sorted, right down to dog and stick farming, then workout what pays best, with least amount of money tied up, if you don't spend it, you aint got to earn it. On a serious note, I think farming in the UK, has got far to complicated, and I will admlt to the same. We have been encouraged to produce more, get more efficient, invest for the future etc, or simply put, run a lot faster, to stay in the same place, Basic profit margins haven't really moved for years, but I expect our machinery spend has quadrupled, or more. What has it achieved ? The arable chaps, buy combines, drills, tractors. and other kit, for £10,000's, and then look out for more acres to 'spread the cost'. As livestock farmers, we buy mixer wagons, tractors, machines to spread ever increasing amounts of poo, from our ever increasing numbers of cattle, which, we are told, will help spread the costs over more cows. I have no answers, and am guilty of above, but, I do know, if prices for our produce don't increase, there's going to be a lot more than contractors will go, simply because we aren't making enough money to pay them.

Fingers crossed ??

 

[Drillman]

Great post!
You might have to do it all yourself if all contractors go bang!

I came to the conclusion a long time ago that to make a living contracting you need to be offering a service that can be done all year round and even better if it isn’t time or weather critical.

I do baling, wrapping and drilling on contract but only because folks keep asking me and it’s not enough to pay the bills as a stand alone business.

If I were to start from scratch I would look at something no one else wants to do or does.

I could name 3 different contractors we use for specialist jobs that fit in the above catagory??

 

[Bossfarmer]

I came to the conclusion a long time ago that to make a living contracting you need to be offering a service that can be done all year round and even better if it isn’t time or weather critical.

I do baling, wrapping and drilling on contract but only because folks keep asking me and it’s not enough to pay the bills as a stand alone business.

If I were to start from scratch I would look at something no one else wants to do or does.

I could name 3 different contractors we use for specialist jobs that fit in the above catagory??

surely the only way to do it sustainably is to only contract with the kit you need for your own farm that way you are already needing a drill/muck spreader/combine etc, do a bit of work for others to help pay for the kit and then the cost per acre for doing your own is next to nothing