AF Realisations Limited (01531702): administration
- Status
- Administration ended
- Administration began
- 2015-01-16
- Formerly
- Andrews Fasteners Limited; Andrews Tools and Fasteners (Leeds) Ltd; Dayaway Limited
- Incorporated
- 1980-12-02
- Location
- Cleckheaton
- Industry
- 25940 Manufacture of fasteners and screw machine products
From the administrators' statement
The Administrator initially met with Mr Michael Carey on 412 December 2014 at the instigation of the Company's accountant, KJA Group Limited (‘KJA’) to discuss the different options available to the Company in light of the financial difficulties it faced Mr Carey was a director of the Company and a director and shareholder of Andfast Limited (‘Andfast’), Andfast being the Company’s sole shareholder
Following that meeting the Admmistrator was advised that Mr Carey proceeded to advertise the business for sale and instructed KJA to prepare cash flows
The Administrator was subsequently contacted by Mr Carey to inform him that he had been unable to sell the business and the Company was not trading at a profit Upon reviewing the cash flows the Administrator advised that a Company Voluntary Arrangement was not a viable option for the Company After considering all of the relevant information regarding the Company’s financial position and reviewing all of the options it became apparent that the appointment of an Administrator would be the most appropriate route In light of the above the Administrator considered that the rescue of the Company was not reasonably practicable
Administrators' statement of proposals (2015-02-24) · Companies House register