# SDF Realisations (2013) Limited (02337403)

> Why UK company 02337403 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02337403

- **Status:** Administration ended
- **Administration began:** 2012-12-12
- **Administrators' firm:** Begbies Traynor
- **Formerly:** Shirley Dyeing and Finishing Limited; OWL Publishing Limited
- **Incorporated:** 1989-01-23
- **Location:** Leeds
- **Industry:** 74909 Other professional, scientific and technical activities n.e.c.

## Why it went into administration

- Pension deficit
- Weather / natural events

## From the administrators' statement

| was first contacted by the directors of the Company on 1 April 2011 | was informed at this tme that the Company's final salary pension fund, which has huge accrued employee benefits and which was closed to future accruals in 2003, had a significant deficiency in the Company's holding company, British Textile Technology Group (‘BTTG") The directors advised me that the pension fund trustees regarded Shirley as a connected employer As a consequence, the Company would ultimately be liable for a percentage of the deficit This deficit has not yet been quantified, however the pension trustees had advised the directors that the deficit was increasing, and would increase by £500,000 at 1 January 2013

During May 2011, a review of the Company's trading position was undertaken The Company operates from leasehold premises at Hyde in Cheshwe and specialises in dyeing, finishing and re-woven yarns and employs 14 members of staff It was evident from a review of the accounts and management accounts at this time that the Company was not cash flow insolvent, however the pension deficit, whilst contingent in the Company's accounts, would result in the Company being balance sheet insolvent

| therefore recommended to the directors of the Company that they should explore the possibility of selling the business as a going concer and | instructed my agents from BTG Asset Consulting ("BTG”) and Sanderson Weatherall LLP of Leeds to appraise the value of the Company’s assets The directors advised me that they had already had interest in the business from several parties | would advise that BTG are part of the Begbies Traynor Group

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02337403/filing-history/MzA3MjUxNDI5N2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02337403

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