Cherwell Tobacco Limited (01384848): administration
- Status
- Administration ended
- Administration began
- 2015-02-24
- Administrators
- Lindsey J Cooper, Jeremy Nigel Ian Woodside
- Administrators' firm
- Baker Tilly Restructuring and Recovery
- Incorporated
- 1978-08-18
- Location
- Manchester
- Industry
- 46350 Wholesale of tobacco products
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- Funding withdrawn / unable to refinance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 financial statements and management accounts are summansed below
Profit & Loss Account
Period to Year End Year End Appointment 31 March 31 March 31 December 2014 2013 2014 (£) (£) Unaudited Unaudited Restated (management) (draft) Turnover Note 1 3,871,049 70,710 247,801 Cost of Sales Note 1 (3,870,744) - (197,028) Gross Profit 305 70,710 50,773 Admunistrative (67,894) (142,009) (110,731) Expenses Other Operating 156,240 260,288 289,225 Income Operating 88,651 188,989 229,267 Profit/(Loss) Investment Income 158,994 Amounts written off (773,199) (537,049) investments Interest payable & (46,200) (46,746) (50,567) similar charges Profit/(Loss) on 42,451 (471,962) (358,349) Ordinary activities before taxation Tax on profit/(loss) on - - (4,210) Ordinary activities Profit/(Loss) for the 42,451 (471,962) (362,559) year
Administrators' statement of proposals (2015-05-01) · Companies House register