Steller Systems Ltd, a British naval architecture and marine engineering firm, is facing a winding-up petition filed by HM Revenue and Customs (HMRC) over unpaid debts.
The petition seeks to place the company into compulsory liquidation, effectively dissolving Steller Systems Ltd and liquidating its assets to settle outstanding obligations to creditors. The hearing was scheduled for this week in the High Court’s Chancery Division, Royal Courts of Justice, in London.
Based in Nailsworth, Gloucestershire, Steller Systems Ltd has garnered a reputation within the UK defence industry for its innovative designs and expertise. The firm’s team comprises highly skilled naval architects and marine engineers, with each actively involved in professional societies.
The company’s Managing Director is notably a Fellow of both the Royal Institution of Naval Architects (RINA) and the Institution of Marine Engineers, Scientists and Technologists (IMarEST), underscoring its established presence in the industry.
Steller Systems Ltd has also contributed to key discussions around UK naval capabilities. Recently, their Fearless design attracted attention and sparked debate as a potential solution for amphibious operations, highlighting the company’s role in shaping the landscape of UK maritime innovation.
The petition, pursued under the Insolvency Act 1985, is a serious step from HMRC as it aims to recover debts through compulsory liquidation. The result of the hearing will be decisive for Steller Systems Ltd, determining whether the firm can continue its operations or face dissolution.
Unfortunately there will be a lot more of this.
The level of companies that have never recovered from lockdown coupled with labour pancaking the economy is decimating the construction industry.
HMRC have clearly been told by some very stupid people to get aggressive. No point in being over aggressive with businesses who are struggling. Liquidation rarely yields anything at all for the creditors.
I am no lover of. Labour , infact my contempt for Labour is approaching that of Tories but to say that Labour’s handling of the economy is pancaking after 3 months versus 14 years of utter incompetence by Tory chancellor after Tory chancellor is rich to say the least!!
The effect of Wet-Weekend-Starmer’s negativity on the economy has been profound.
Three months of trash talking things economic require a special level of stupidity – all deals are in the deep freeze.
There are a huge number of companies that depend on deal flow.
If anyone doesn’t understand that go and work with Rachel Reeves – she doesn’t understand anything.
The budget is coming as a shock. People need a few days to unpack things: then they will change their behaviour onto the new track. Overall the budget is designed to reduced incentives for wealth gain through short term ‘rent seeking behaviour’ ( e.g. accumulating and hoarding scarce assets like land and property) and to encourage longer term investment in manufacturing, constructions, skills, people and technology while ensuring that the poorest continue to have enough to play an active part in the economy as consumers. The budget is also designed to increase economic activity by getting inactive people into work.… Read more »
Riiight….. Unfortunately this means the end of the size of family farm that is viable that is worth £3-5m but makes £50-100k annual profit. Where is the £800k coming from? It also means that multi generational SME’s are liquidated rather than duties paid. It is easy to make an, on paper, very valuable company that doesn’t emit much cash. I own a few of those. HMRC is the largest shareholder in all of my companies already. I’m shutting two down as a direct result of the budget and not rehiring for roles in others – things are deathly quiet out… Read more »
Individuals adapt to circumstances. The emigrés you mention have prioritised wealth and will try to find a new home with a congruent culture. That’s their choice. I see Man Utd have just recruited a new Portuguese manager so there are still talented people who think the UK is land of opportunity. I don’t know much about farming but I take your general point ( my unused pensions might push my estate into inheritance tax ) but as they say, naked I came into tho world and naked I will leave it. I’m sure my children will manage. Jeremy Clarkson mouthing… Read more »
I’d suggest reading Dan Neidle’s recent thread on X about the family farm nonsense….
It applies to very few family farms…and well above £2m….and its easily avoided….
Long story short….those complaining about it need to get better professional advice….
I have university training in economic do I can read between the lines of her budget , Your comments are nothing but right wing , blinkered hypocritical nonsense. Ido not agree with all of it.
First she is clearing up your right wing mess. That is a fact see the OBR.
Did she slash the defence budget, NO. That was Osbourne.
Did she actually pancake the economy, NO , that was TRUSS
Has she left a black hole for someone else to clear up, NO THST WAS HUNT and SUNAK
It doesn’t take much or long to pancake the economy, look at Truss, spook the markets and wipe billions off in days. The Countries debt is 92% of gdp and the interest alone a hundred billion a year, if the economy catches even a slight cold bankruptcy is around the corner. This is what our politicians of all colours have done.
I agree, but without a doubt the current mess is down to the previous government 14 years of mismanagement and incompetence. I would be saying that if it had been Labour as well. I am a firm believer we should not be looking at tax cuts of any kind until the countries debt is substantially payed down and on a downward trajectory. Further the 2.% cut in NI was a reckless attempt to buy votes at the economies expense and labour’s pledge regarding taxes with self harm. We are in a situation where whoever is in government have little room… Read more »
Labour “pancaking the economy”? You cannot be in any way serious. The Tories were found deeply wanting after 14 years of incompetence and outright lies. That includes significant cuts in key defence areas with the direct replacement either years down the road, or simply forgotten about.
If we’re going to judge Labour, as we should do, same as any political party, at least give them a statutory term in office, not merely a few months, picking up the pieces after the shambles of the last lot.
You mean unlike the £44+Bn lie that Starmer and Reeves have told? Or Wes-Trust-Me-Streeting ‘more money isn’t the silution for the NHS but a few weeks later £25Bn more to waste on being rude to patients and neglecting them has been made available. Staffing levels arranged to suit staff and not patient needs. 4 day health service that shuts down on Friday lunch time and is left to terrified under qualified junior doctors to try and manage. The was a moment when Streeting admitted things were broken and cash wasn’t the solution that most people who have had the misfortune… Read more »
You do realise that if you want a fully 7 day NHS you’d need to hire significantly more staff… which means a lot more money. You can’t have your cake and eat it. It’s lack of investment that is causing the NHS to become less productive. Out of date IT, hiring people just to shuffle around beds in the corridor rather than building more capacity. Operating like that is a death spiral. NHS leaders have been warning for years this would happen.
I’m no fan of Labour, bloody idiots, ‘but’, I think we have to give Wes a chance to reform the NHS. He’s asking the right questions and making the right noises at least. We haven’t had a health Secretary doing that for many years! I suspect he will be frustrated in his efforts unfortunately. Jonathan (of this parish) has gone into this subject in depth on many occasions, a combination of ‘massive’ additional funding and reform is needed, or we need to cut our cloth and expectations accordingly. A great friend of mine has a daughter who’s a senior midwife,… Read more »
Firstly, I think the ‘black hole’ figure was £22Bn rather than £44 Bn. And I’m fairly sure that the OBR more or less agrees with that number- and also had some strong words to say to Jeremy Hunt about the Tories not submitted a yearly spending review since 2021, which hampered theirs and others’ (including government departments and the opposition/new incumbents) efforts in managing in-year spend without major changes to forecasts. I’m not seeing the lie. I’ll be the first to say that I’m not a natural Labour voter, but something needed to change, because what the Tories were doing… Read more »
Profit of £643k in year to 31/12/2023 with dividends paid of £492k. Not much left in the company.
It doesn’t seem to have a portfolio of successful designs, unlike BMT.
Crazy to pay that level of divi. They probably overpaid the executives too.
Agreed
True but stat statements tell you very little of the underlying health of a company.
You have to wonder with those figures why they’ve not paid their tax….
It’s always the first person you pay…because its the one person who can really take action against you…
Have Steller Systems Ltd actually had a Ship or Ships built from their designs?.
They had a couple of minor things, like our minesweepers using their inflatable USV launchers, but never an actual ship.
This is just the market working. The employees have skills and will have no trouble getting another job in a more successful company.
This is a pity, they design really good looking ships, especially the bridge design.
At least we should let them keep going until they make a T83 concept, I was looking forwards to that. Just trying to imagine the crazy design they’d come up with?
Based off the Fearless hull, perhaps?
Whilst I mourn the passing of every enterprise – a huge amount of hard work goes into setting up and running any mid sized company that survives for a number of years.
How would they have anything to add to a large complex warship design when they have never had a mid sized warship design that was built?
I wasn’t really talking about Steller’s actual contribution to defence, which was patchy at best, just that they made some really cool looking concepts.
Spartan was the most rounded in principle of the T31 designs, it just had nowhere to be built.
Fearless changed the conversation around MRSS and the ideas are being incorporated for a more heavily armed CONOPS in MoD thinking.
They are one of those companies, like Reaction Engines, that never gets much done but produce curiosities that interest me a lot because they are outside the usual run of the mill military procurement hoops.
This is the fine line we walk between keeping a well rounded national ship building and design capability going I suppose…
Do we make T32 and T83 brand new designs, with all the developmental risk that entails, or do we go the safer and cheaper route of T31 batch 2 and make T83 a derivative of T26.
One route costs more ( potentially billions more), but keeps the design houses busy, the other reques far less design input.
The age old question, what’s the defence budget for, defending the country, or supporting industry??
I think we need a mix of both approaches for new ships, T32 should just be a batch 2 T31 to reduce design time, keep production moving quickly and reduce risk (as well as reducing training, logistical constraints, etc), we are in desperate need of new frigates as the T23s are all on life support. We can afford to take our time with the T83 design, the T45s have much more life left in them (it’s hard to wear out a ship that never goes to sea) and even if we had the design tomorrow we wouldn’t be able to… Read more »
Good points. We have certainly taken far to long in this Country at every level adjusting from adjusting from being a World wide power to being a more limited regional power with, far smaller forces meaning changed focus, expectations, budgets and thus limited marketplace for suppliers that brings with it. Lost a lot of talent and good businesses along the way but the total lack till recent times, of consistent and ongoing orders over short sighted boom and bust often dictated by 5 year political terms and endless committees and reviews has been unnecessarily destructive to this sector. One thing… Read more »
Great shame about this, businesses of this type are rarely going to be continually secure because they can’t really create a secure supply of work but like most in the create business rely on many circumstances outside of their control and a strong element of luck. When I was active I remember many a design business that were once top of their tree within a decade being on their last legs. It’s vital in this particular design and engineering sector that it’s not an unpredictable order market place as in boom or bust or even extremely competent businesses will just… Read more »
One of the UK defence, industrial weaknesses, is its lack of depth: this won’t help.