CL 1 Realisations Limited (06460541): administration
- Status
- Administration ended
- Administration began
- 2013-03-01
- Administrators
- Simon Harris, Cameron Gunn, Mark Supperstone
- Administrators' firm
- ReSolve
- Formerly
- Cartils Limited
- Incorporated
- 2007-12-28
- Location
- London
- Industry
- 73110 Advertising agencies
Why it went into administration
- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Sustained trading losses
- Creditor pressure / legal action
From the administrators' statement
The Company was suffering from a decline in sales which placed pressure on cash flow As a result, the Company was unable to pay tts creditors as they fell due
The Company entered into a Time-To-Pay (TTP) arrangement with HM Revenue and Customs (HMRC) in September 2012 Whilst the Company made the payment under the TTP agreement it failed to keep up to date with current obligations and it subsequently failed at the end of September
The management then approached ReSolve Partners LLP (ReSolve) in order to assist them dealing with HMRC tn attempting to get back on track with their inital TTP arrangement, however, HMRC were not in agreement to this proposal
Administrators' statement of proposals (2013-04-16) · Companies House register