Impact Safety Glass Limited (05040735): administration
- Status
- Administration ended
- Administration began
- 2014-10-16
- Administrators
- Christopher Ratten, Jeremy Nigel Ian Woodside
- Administrators' firm
- CG&Co
- Incorporated
- 2004-02-11
- Location
- Manchester
- Industry
- 23120 Shaping and processing of flat glass
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
Relevant extracts from the company’s audited financial statements and management accounts are summarised below
Profit & Loss Account
Year End Year End 31 March 31 March 2013 2012 Turnover 4,122,433 4,306,919 Cost of Sales (3,136,516) (3,386,267) Gross Profit 985,917 920,652 Admunistrative Expenses (965,583) (950,905) Other Income - - Operating Profit/(Loss) 20,348 (30,253) Interest payable & similar charges (9,678) (12,283) Loss on asset disposal - - Profit/(Loss) on Ordinary activities before taxation 10,670 (42,473) Tax on profit/(loss) on Ordinary activities (6,943) 1,969 Profit/(Loss) for the year 3,727 (40,504) Directors’ Remuneration 15,238 14,950 Dividends 33,993 10,000
Administrators' statement of proposals (2014-12-17) · Companies House register