# C. & M. Yates (Properties) Limited (01271342)

> Why UK company 01271342 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/01271342

- **Status:** Administration ended
- **Administration began:** 2011-12-22
- **Administrators:** Andrew Graham Mackenzie, Rob Sadler
- **Administrators' firm:** Begbies Traynor
- **Formerly:** Ibsoncrest Limited
- **Incorporated:** 1976-08-02
- **Location:** Leeds
- **Industry:** 7011

## Why it went into administration

- Cash flow / liquidity pressure

## From the administrators' statement

The Company's trade was to purchase, develop and then selt real estate However, recent trading had incurred a substantial H M Revenue & Customs liability that the Company was unable to pay

The increased pressure from H M Revenue & Customs combined with the outstanding balance due to the Bank meant that on review the Company was unable to pay its debts as and when they fell due and was therefore insolvent

A consideration was then made by the Bank as the Qualified Floating Charge Holder (QFCH), with the assistance of this firm, Eddisons and Eversheds LLP which course of action would be best in these circumstances The only viable options, due to the nature of the business, were an LPA Recervership or an Administration

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/01271342/filing-history/MzA1MjI1MzI5OWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/01271342

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.