FM Realisations Limited (06615561): administration
- Status
- Administration ended
- Administration began
- 2017-06-22
- Administrators
- Simon Campbell, Francis F A Wessely
- Administrators' firm
- Quantuma
- Formerly
- 4Media Ltd; 4Media Relations Ltd
- Incorporated
- 2008-06-10
- Location
- Town Quay
- Industry
- 73120 Media representation services
Why it went into administration
- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Competition / price pressure
- Weather / natural events
From the administrators' statement
3.1. Quantuma LLP was referred to the Company by Rob Churchward, who was acting as interim finance director. The Company hac prepared inaccurate accounts which led to number of unexpected tax liabilities and took steps fo appoint an interim finance director to resolve the issues. As a result of this, it became apparent that the Company was struggling to pay its debts and may be insolvent. Moreover, National Westminster Bank PLC withdrew the Company's invaice discounting facilities. Frank Wessely first met with the director of the Company on 29 March 2017 to discuss the financial
position.
3.2 HMRC levied a Controlled Goods Agreement on 18 April 2017 so in order to protect the Company and assets, a Notice of Intention to Appaint Administrators was filed at Court on 26 April 2017. This meant that the Company was able to fully market the business and assets and explore a sale. Further Notice of Intention to Appoint
Administrators' statement of proposals (2017-07-22) · Companies House register