Tapes UK Limited (04713691): administration
- Status
- Administration ended
- Administration began
- 2013-10-23
- Administrators
- Timothy Colin Hamilton Ball, Roderick John Weston
- Administrators' firm
- Mazars
- Incorporated
- 2003-03-27
- Location
- Bristol
- Industry
- 38320 Recovery of sorted materials
Why it went into administration
- Property / lease costs
- Creditor pressure / legal action
- Supply chain disruption
From the administrators' statement
The business of Tapes UK Limited was established by Mr Stephen Everett and Mr Keiron Mogg 1n 2001, and was formally incorporated in 2003 The company built up a good reputation and made profits year on year and as time went by the Company expanded, selling a wider range of new media products In 2009, Mr Keiron Mogg decided to leave the Company
Sales continued to increase and in 2010 and 2011 the Company had its best years, with profit after tax ising from £5,275 in the financial year ended 31 March 2009 to £80,925 and £50,930 in the financial years ended 31 March 2010 and 31 March 2011, respectively. The Company, accordingly, revised its business plan so that it could seek to develop the recycling aspect of its business and the Company took on a new premises to accommodate additional recycling machinery, which allowed the Company to broaden its business and introduce new revenue streams
The Company continued to trade well until several months after the Japanese Tsunami of 11 March 2011, which, according to the Company’s director, forced the whole industry to move “tapeless” at a much faster rate than the Company had anticipated
Administrators' statement of proposals (2013-12-24) · Companies House register