Mold Systems Limited (06896347): administration
- Status
- Administration ended
- Administration began
- 2019-09-09
- Administrators
- Matthew James Higgins, Steven Phillip Ross
- Administrators' firm
- RSM
- Formerly
- BWB TEN Limited
- Incorporated
- 2009-05-06
- Location
- Gosforth
- Industry
- 22290 Manufacture of other plastic products
Why it went into administration
- Property / lease costs
- Regulatory change or action
- HMRC / tax arrears
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
Relevant extracts from the Company's audited financial statements and management accounts are summarised below.
SXR/MJH/AMDLIARIL SFY 1116430-801//7/ADMP0800v 130619 Draft Financial Financial Financial
Statements Statements Statements Year ended Year ended Year ended 31.12.18 31.12.17 31.12.16 Turnover 5,003,082 4,883,276 §,245,289 Cost of Sales (3,392,905) (3,887,206) (3,817,277) Gross Profit / (Loss) 1,610,177 996,070 1,428,012 Distribution Costs (669,191) (855,853) (674,562) Administrative Expenses (924,730) (1,014,597) (935,058) Profit / (Loss) before Tax 5,124 (897,779) (135,732) Shareholders’ funds brought forward 234,816 1,086,488 4,050,736 Dividends paid NIL NIL NIL Shareholders’ funds carried forward 477,372 234,816 1,086,488 2 Estimated statement of financial position The directors have not yet lodged a Statement of Affairs with the Joint Administrators. Accordingly, pursuant to the relevant legislation, we attach an Estimated Statement of the Financial Position of the Company as at 09 September 2019 as Appendix B. This records the assets and liabilities at their estimated book value at the date of our appointment together with details of the names, addresses and the estimated amounts due to the Company's creditors and any security held at the date of our appointment. 3 Purpose and strategy of the administration Paragraph 3 to Schedule B1 to the Insolvency Act 1986 …
Administrators' statement of proposals (2019-11-05) · Companies House register