Exel Engraving Limited, a well-known local business operating from Hemel Hempstead and with its registered office in Wisbech, has officially entered voluntary liquidation following a vote by its members.
The company has been a fixture in the community, providing engraving services from its principal trading address at Brickfields Industrial Estate, Finway Road, Hemel Hempstead, HP2 7QA, and its registered office at The Boathouse Business Centre, Wisbech.
Directors’ resolution and liquidator appointment
The winding-up process was initiated by a special and ordinary resolution, authenticated late in the evening on October 9, 2025.
The directors, led by Steven John Tierney—who also serves as a Wisbech Town, Fenland District, and Cambridgeshire County Councillor—resolved that the company be wound up voluntarily.
Michael James Gregson, a licensed insolvency practitioner from GS Insolvency, Brightfield Business Hub, Peterborough, was appointed as the liquidator to oversee the process.
Statement of affairs: assets and liabilities
A detailed statement of affairs published on Companies House website reveals the financial challenges that led to the company’s closure.
The company’s assets, including bank balances, trade debtors, and work in progress, were valued at £129,200, but the estimated realisable value was only £39,200.
Notably, an overdrawn directors’ loan account of £90,000 was listed as unrecoverable.
On the liabilities side, the company faced substantial debts.
Preferential creditors were listed as nil, but secondary preferential creditors, primarily HM Revenue & Customs for VAT and PAYE, amounted to £140,610.
Unsecured non-preferential claims, including trade and expense claims and further HMRC liabilities, totalled £63,121.
The overall deficiency as regards creditors was calculated at £164,531, with the total creditors’ claim reaching £203,731.29.
Creditors and shareholders
The list of creditors includes major entities such as HM Revenue & Customs, E.ON Next, Castle Water, TC Group, and Wisbech Payroll Ltd. The largest single claim comes from HMRC, reflecting unpaid taxes and penalties.
Legal and procedural notes
The liquidation process is being conducted in accordance with the Insolvency Act 1986 and the Insolvency (England & Wales) Rules 2016.
Here’s a breakdown of Exel Engraving Limited’s creditors by type, based on the official statement of affairs:
- Tax Authorities
- HM Revenue & Customs (HMRC)
- Debt Management – EIS NCL, HMRC, BX9 1SR
- £140,610.30
- £61,396.59
- Total HMRC (Tax, VAT, PAYE, penalties): £202,006.89
- Debt Management – EIS NCL, HMRC, BX9 1SR
- Utilities
- Castle Water
- 1 Boat Brae, Rattray, Blairgowrie, PH10 7BH
- £50.00
- E.ON Next
- Trinity House, 2 Burton Street, Nottingham, NG1 4BX
- £100.00
- Professional Services
- TC Group
- G14 The Boathouse Business Centre, 1 Harbour Square, Wisbech, PE13 3BH
- £1,440.00
- Payroll Services
- Wisbech Payroll Ltd
- 4 Rowan Close, Watlington, Norfolk, PE33 0UG
- £134.40
Recently, Tierney Engraving Limited, a private limited company, was incorporated in England and Wales.
The company’s registered office is at Unit 14, The Boathouse Business Centre, 1 Harbour Square, Wisbech, Cambridgeshire.
Its directors are Alan Christopher Tierney (designer) and Steven John Tierney (business manager), who are also the main shareholders.
The company is limited by shares, with 102 shares issued across three classes. Both directors hold significant control, each owning more than 25% but not more than 50% of shares and voting rights..
Sources:
Information in this article is based solely on official documents filed by Exel Engraving Limited and related parties and via Companies House filings.
If you need further details or wish to contact the Exel liquidator, please refer to GS Insolvency, Brightfield Business Hub, Bakewell Road, Orton Southgate, Peterborough, PE2 6XU, or email denisegordon@gsinsolvency.co.uk.
