CM 2014 Limited (07093873): administration
- Status
- Administration ended
- Administration began
- 2014-09-23
- Administrators' firm
- MHA
- Formerly
- Craftwork Marketing Ltd; Brand-Junction Limited
- Incorporated
- 2009-12-03
- Location
- London
- Industry
- 73110 Advertising agencies
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
From the administrators' statement
The Company began trading in May 2013 By October 2013 the Company had made a loss of £42,000 This had been expected as there were some exceptional costs that had to be borne During November and December the Company was pitching on a lot of new business, much of which was won, however some of the projects that the Company were expecting to bill were postponed or cancelled outside of their control This led to a drastic reduction in billing over the period November 2013 — February
Subsequently, this created financial pressure on the Company who were defaulting on a number of payments to creditors including HM Revenue & Customs (“HMRC”) This led to applications for County Court Judgments being made against the Company. On 7 April 2014, the Company approached Michael Sanders of MHA Macintyre Hudson (“MHA”) for advice as to the best way to rescue the Company Michael Sanders had previously acted as Supervisor of Ignito Limited on 15 March 2005 and later as Liquidator on 5 February 2010, a company of which Peter Noorkoiv was a Director
An option available to the Company was a Company Voluntary Arrangement (“CVA”) it was expected that the Company’s financial situation would improve considerably over the next few months and the Company was confident that with the relief of pressure on the Company through the CVA, the Company would be able to develop the business and make contributions to the CVA out of future profit
Administrators' statement of proposals (2014-11-10) · Companies House register