Home and Retail Deliveries Ltd (05968968): administration
- Status
- Administration ended
- Administration began
- 2014-06-06
- Incorporated
- 2006-10-17
- Location
- London
- Industry
- 49410 Freight transport by road
Why it went into administration
- HMRC / tax arrears
- Bad debts / customer insolvency
From the administrators' statement
Appendix B shows the Company's financial statements for the years ended 31 December 2010, 31 December 2011 and 31 December 2012
In January 2014 the Joint Supervisors were notified by HM Revenue & Customs that the Company's post CVA VAT and PAYE / NIC liability had tncreased to tts highest ever level When queried, the directors confirmed that the non-payment of VAT and PAYE / NIC had occurred due to the expense of the Company moving its Tamworth warehouse to cheaper premises This move was deemed essential for the Company's long term survival but required expenditure which put considerable pressure on the Company's cash flow in the last quarter of 2013
The directors attempted to negotiate a further time to pay arrangement with HM Revenue & Customs to repay the post CVA arrears After lengthy consideration HM Revenue & Customs rejected the Company's application and gave it until 20 March 2014 to repay the full outstanding balance HM Revenue & Customs confirmed that failure to repay the balance by the due date would result in the Joint Supervisors being requested to fail the Company's CVA and petition for the Company to be wound up, in accordance with the
Administrators' statement of proposals (2014-07-24) · Companies House register