Fags (Machines) Limited (00319522): administration
- Status
- Administration ended
- Administration began
- 2015-02-24
- Administrators
- Lindsey J Cooper, Jeremy Nigel Ian Woodside
- Administrators' firm
- Baker Tilly Restructuring and Recovery
- Formerly
- Fags (Holdings) Limited
- Incorporated
- 1936-10-14
- Location
- Manchester
- Industry
- 46900 Non-specialised wholesale trade
Why it went into administration
- Sustained trading losses
- Parent or group failure
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
Relevant extracts from the Company’s audited financial statements and management accounts are summarised below
Profit & Loss Management Unaudited Audited Information Accounts Accounts to Year End Year End 31 Dec 2014 31 Jan 2014 31 Jan 2013 Turnover 5,739,649 7,957,906 9,304,506 Cost of Sales (4,964,104) (7,106,209) (8,379,732) Gross Profit 775,545 851,697 924,774 Administrative Expenses (809,021) (984,001) (1,075,489) Operating Profit/(Loss) (33,476) (132,304) (150,715) Interest receivable 18,788 52,898 39,996 Interest payable & similar (66,960) (55,889) (54,516) charges
Profit/(Loss) on Ordinary (81,648) (135,295) (165,235)
Administrators' statement of proposals (2015-05-15) · Companies House register