BEN Emily Limited (05485098): administration
- Status
- Administration ended
- Administration began
- 2012-01-24
- Administrators' firm
- Begbies Traynor
- Formerly
- PUB Company 1018 Limited
- Incorporated
- 2005-06-20
- Location
- Newcastle upon Tyne
- Industry
- 5540
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
Gerald M Krasner of Begbies Traynor (Central) LLP was first asked to meet Susan Thompson, one of the Directors of the Company on 19 January 2012 The introduction to the Company was from the Company’s external accountants Present at the intial meeting held on 19 January 2012 was Susan Thompson (Director) and Carl French (Business Development Manager) of Scottish and Newcastle Pub Company and Gerald M Krasner
The inital discussion indicated that the Company was insolvent as tt was unable to pay its debts when they were falling due The Director advised that the gross weekly turnover had historically been between £10,000 and £12,000 unti last year when tt had started to fall and had now decreased to between £6,000 and £7,000 aweek The Directors had not adjusted the overheads to take into account the fail in weekly turnover
The Company accounts also indicated a substantial overdrawn Directors’ toan account The Director advised that her husband and she had only every taken a very small salary The rest of their drawings had been taken by drawing cash out of the business when needed The figure in the accounts to 2 October 2011 was £69,598 before any adjustment for salary
Administrators' statement of proposals (2012-03-21) · Companies House register