Windsor PUB Co Limited (06819283): administration
- Status
- Administration ended
- Administration began
- 2012-06-25
- Formerly
- W PUB Co Limited
- Incorporated
- 2009-02-13
- Location
- Sutton
- Industry
- 56302 Public houses and bars
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Weather / natural events
From the administrators' statement
The company was referred to Turpin Barker Armstrong by the company’s accountant, Colin Bailey of The Bailey Partnership The board sought our advice concerning the financial position and the first meeting with the directors was held on 30" May 2012, with Martin Armstrong of this office (which followed a previous meeting on 24” May 2012 between Martin Armstrong, Colin Bailey, and the company’s financial adviser, Tony Hampton) At these meetings it was apparent that the company would not be able to discharge ongoing liabilities whilst continuing to adhere to the agreed “time to pay” arrangement with HMRC It was also noted that HMRC rarely grant a vanation to a “time to pay” agreement even if it has not been breached
The directors were made aware of the options available and the potential consequences of trading whilst insolvent 1@ Wrongful trading The directors were confident that the business would be profitable going forward and could profit substantially from improved summer weather and the upcoming Olympics (with rowing events being held at nearby Eton Dorney)
It was evident that the company was insolvent and could not continue to trade as the cashflow position was such that the company was finding it difficult to adhere to the payment plan with HMRC whilst discharging ongoing liabilities The ‘time to pay” arrangement with HMRC stipulated that if payments were not made as agreed, they would proceed to present a Winding Up Petition against the company
Administrators' statement of proposals (2012-07-04) · Companies House register