From the administrators' statement

Danham Limited (the “Company”), formerly known as MB67 Limited was incorporated on 11 November 1996 by the Director, Mr Graham Gascoigne, with the objective of subletting small units in a long lease commercial properties to small businesses.

The business commenced in November 1997 and the initial capital was financed by the Natwest secured via a charge over the Company's assets and leasehold properties

The Company was able to maintain a reasonably constant turnover over a period of ime The working capital requirement was primarily funded by the reinvestment of profits. However, in order to support the increasing overheads, the Company obtained a bank loan and overdraft facility from Natwest.

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Danham Limited (03276157)

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