# CSL Assets Ltd (06939285)

> Why UK company 06939285 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/06939285

- **Status:** Administration ended
- **Administration began:** 2011-12-06
- **Administrators:** Jamie Playford
- **Administrators' firm:** Acuity Professional Partnership
- **Formerly:** CF Shipping Limited
- **Incorporated:** 2009-06-19
- **Location:** Norwich
- **Industry:** 6024

## Why it went into administration

- Cash flow / liquidity pressure
- Supply chain disruption
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Creditor pressure / legal action
- Over-expansion / investment not recovered

## From the administrators' statement

The Company was incorporated on 19 June 2009 and 1s based in the Felixstowe area Whilst specialising in the mport and export of high value vehicles between UK and overseas ports, it also ships and transports plant, machinery, trucks and spare parts

The Company traded well initially and saw rapid growth in the period from 2009 to 2010 However, in 2011 a downturn in the demand for high value vehicle freighters and increase in overheads affected the Company’s cash flow and it became increasingly difficult for the Company to meet its debts when they fell due It was then unable to meet the tax payments that had accrued in its previous profitable year Also in 2011 the Company and its director, Mr J Richardson, were subject to a claim from a former employee This claim took up a large amount of management time The claim was upheld and Mr Richardson was found personally lable, which resulted in him being declared bankrupt Subsequently, Mrs M D Richardson was appointed on 17 May 2011 to replace Mr Richardson as director, who resigned on 30 June

Several refinancing options were considered and, due to the severity of the Company's cash flow problems, Mrs Richardson loaned the Company £8,000 in an attempt to alleviate the problems In October 2011, a County Court Judgement claim was presented against the Company in the sum of £222,543 for damage to a vehicle that the Company had shipped This amount is disputed

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/06939285/filing-history/MzA1MjExOTAwM2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/06939285

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