# Baltic Projects UK Ltd (07861936)

> Why UK company 07861936 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/07861936

- **Status:** Administration ended
- **Administration began:** 2020-03-12
- **Administrators:** Stephen Powell, Julie Anne Palmer
- **Administrators' firm:** Begbies Traynor
- **Incorporated:** 2011-11-28
- **Location:** Salisbury
- **Industry:** 43390 Other building completion and finishing

## Why it went into administration

- HMRC / tax arrears
- Cash flow / liquidity pressure

## From the administrators' statement

The Company traded as a construction business. We understand that the Company was performing reasonably well until David Brace had a heart attack in later 2019/early 2020. As a result of this the Company got into arrears with HMRC who later threatened winding up proceedings. The Company employed four members of staff.

Extracts from the Company's profit and loss account and balance sheet report the following:

Profit. © and’ | Loss Year Ended Year Ended YearEnded Account 30/11/2018 30/11/2017 30/11/2016 | Turnover £1,063,366 £490,836 £314,530 j Gross profit £261,504 £154,512 £59,029 | |_Profit after tax £2,383 £8,571 (£11,610) Balance Sheet Year Ended Year Ended Year Ended 30/11/2018 30/11/2017 30/11/2016 Debtors 7 £112,507 £21,070 34,683 Cash at bank £69,419 £18,599 Nil Creditors falling due (252,909) (113,035) (£116,620) within one year _ oe | Profit and loss (£70,983) (£73,366) (£81,937) account/net assets

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/07861936/filing-history/MzI2MjQ0MTIwNmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/07861936

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