Musion Systems Limited (04551099): administration
- Status
- Administration ended
- Administration began
- 2013-07-23
- Administrators
- Michael David Rollings, Vivienne Elizabeth Oliver
- Administrators' firm
- EY
- Formerly
- Mesion Systems Limited; Clickcharge Limited
- Incorporated
- 2002-10-02
- Location
- London
- Industry
- 59112 Video production activities
Why it went into administration
- Property / lease costs
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
Relevant extracts from the Company's audited financial statements and management accounts are summarised below
Filed Filed Management Accounts Accounts Accounts 31 Oct 2010 31 Oct 2011 24 July 2013 Fixed Assets 132,887 101,487 85,774 Current Assets 887,922 664,914 1,421,742 Creditors (1,130,832) (1,467,227) (1,401,850) Net (Liabilities)/Assets (110,023) (200,826) 105,666 Capital & Reserves Share Capital 3 3 3 Share Premium 118,109 118,109 118,109 Profit & Loss account/(deficit) (228,135) (818,938) (12,446)
Total shareholders’ (deficit)/funds {410,023} {700,826) 405,666
Administrators' statement of proposals (2013-09-19) · Companies House register