Yarrum BS Limited (06614317): administration
- Status
- Administration ended
- Administration began
- 2011-05-11
- Administrators
- Glyn Mummery, Darren Wilson
- Administrators' firm
- FRP Advisory
- Formerly
- Middletonmurray Business Solutions Limited
- Incorporated
- 2008-06-09
- Location
- Warley Hill Business Park
- Industry
- 7487
Why it went into administration
- HMRC / tax arrears
- Sustained trading losses
From the administrators' statement
YBSL had traded in training and events since June 2008 from trading premises at MiddietonMurray House, Sidcup, Kent The principal trading activity of YBSL was training and event management with the primary focus of developing new business ideas, which in turn, would be sold on It was intended to be a break even business, generating other profit making businesses
Average annual sales grew in 2009 to c. £1m and 75% of this was generated by revenue from the training aspect of the business YBSL won an early contract with the Department for Work and Pensions to deliver training to a variety of job seekers referred to the Company by the job centre This initially proved lucratve and the profit was used to fund another business idea, being an events business, further details of which are provided below
The other area of the business was the delivery of networking events as referred to above The Company purchased ‘eases on private boxes and entertained potential clients in return for a fee The intention was to generate sufficient income to cover the costs of these leases whilst gaining opportunities for the other businesses wa the networking. The leases proved extremely onerous however, and demand was not sufficient to cover costs.
Administrators' statement of proposals (2011-07-20) · Companies House register