# T D Resprays Limited (05790908)

> Why UK company 05790908 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/05790908

- **Status:** Administration ended
- **Administration began:** 2011-11-28
- **Administrators:** Timothy Frank Corfield
- **Administrators' firm:** Leonard Curtis
- **Incorporated:** 2006-04-23
- **Location:** Walsall
- **Industry:** 5020

## Why it went into administration

- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
- Competition / price pressure

## From the administrators' statement

TD Resprays Limited was incorporated in 2006 following Keith Watts’ sole trader business, KW Autobodies buying the business, TD Resprays, from the landlord of the trading premises at 639 Bloxwich Road, Leamore, Walsall The company provided commercial resprays to truck rental/sales companies and accident repairs to cars and insurance work The company sought and obtained funds to set up and maintain its cashflow needs but began to have difficulties servicing the repayments, together with demands being made from HMRC regarding payment of an outstanding debt of £54,000 ‘It has suffered recently with a dip in profitability because of the recession and not having sufficient operating controls tn place This led to the company being overstaffed and overheads not matching the income being generated

The company had been trying to negotiate a payment plan for outstanding PAYE/NI contributions and VAT with HMRC Mr Watts was successful tin agreeing a plan with PAYE/NI representatives of HMRC, but not for outstanding VAT On 11 October 2011, bailiffs representing HMRC for VAT due of part of the amount outstanding of £33,224 issued a distraint notice on a spray booth and a spray gun The company did not have the resources to pay this We understand the spray gun was subject to a hire agreement

The director sought my advice with regard to the company's financial position | met the director on 14 November 2011 with a view to assisting him with preparing a draft Statement of Affairs of the company to assess the company's financial position and discuss options available

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/05790908/filing-history/MzA1MDkwOTYxNWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/05790908

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.