# Phase Brickworks Limited (03257684)

> Why UK company 03257684 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03257684

- **Status:** Administration ended
- **Administration began:** 2014-08-11
- **Administrators:** Alan John Clark
- **Administrators' firm:** Leonard Curtis
- **Formerly:** Springbird Limited
- **Incorporated:** 1996-10-02
- **Location:** Ilford
- **Industry:** 43390 Other building completion and finishing

## Why it went into administration

- Cash flow / liquidity pressure
- HMRC / tax arrears

## From the administrators' statement

As the company’s name suggests it traded as a brickwork contractors and had done so since shortly after incorporation Trading was generally successful but during 2013 and 2014 the company began to experience cash flow problems. These problems were caused by the company’s own customers tasking longer to pay and querying final accounts

The cash flow probiems were further compounded when a bookkeeping error led the company to realise that it had significantly under accounted to HMRC for the company’s habilittes for PAYE/NIC and CIS tax

Other insolvency options were considered but a review of the potential cash flows going forward indicated that the company would not be able to generate sufficient income to make meaningful contributtons into a Company Voluntary Arrangement It was felt that Administration rather than liquidation would maximise asset realisations

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03257684/filing-history/MzEwODMxNTI5OWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03257684

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