# Commercial Tyre Solutions Limited (06820244)

> Why UK company 06820244 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/06820244

- **Status:** Administration ended
- **Administration began:** 2011-04-27
- **Administrators:** Ian Douglas Yerrill
- **Administrators' firm:** Leonard Curtis
- **Incorporated:** 2009-02-16
- **Location:** Ashford
- **Industry:** 5030

## Why it went into administration

- Funding withdrawn / unable to refinance
- Property / lease costs

## From the administrators' statement

The Company was incorporated on 16" February 2009 and traded in the business of providing a service of fitting commercial tyres The Company’s target customers were local authonties and other blue chip companies

The Company initially traded from premises in Ikon Industrial Estate, Droitwich Road, Harlebury, Kidderminster and latterly from Sycamore Farm, The Hollow, Caverswall, Stoke on Trent STi1 9EE. It 1s understood that the lease for these premises was not held in the Company’s name and the rent payable by the Company for occupancy of the premises was £30,000, although no payments were ever made to the leaseholder in relation to same The Company’s bankers were HSBC Bank plc and the account was operated on a credit only basis with no overdraft or loan facility provided To assist with cash flow, in October 2009 the Company entered into a factoring agreement with Bibby Financial Services Limited, supported by a fixed and floating charge debenture registered on the Company’s file maintained by the Registrar of Companies

Initial trading was satisfactory and the Company’s monthly tumover was in the region of £75£100,000 Filed accounts for the period 1* March 2009 to 31‘ December 2009 indicate a £65,859 profit

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/06820244/filing-history/MzAzOTI0Mjk2NGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/06820244

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.