# Golf Punk Media Ltd (08050756)

> Why UK company 08050756 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/08050756

- **Status:** Administration ended
- **Administration began:** 2019-02-11
- **Administrators:** Hugh Francis Jesseman, William Antony Batty
- **Administrators' firm:** Antony Batty
- **Incorporated:** 2012-04-30
- **Location:** London
- **Industry:** 58190 Other publishing activities

## Why it went into administration

- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action

## From the administrators' statement

GOLF PUNK MEDIA was formed to acquire the UK Trademark and intellectual property for Golf Punk which had been a successful print magazine in the past, The company was formed in April 2012 and after raising investment from an US individual investor, launched a digital magazine “Golf Punk”. In late 2013 the company raised seed investment of £150,000 from the Jenson SEIS Fund. The company invested in a new website and moved its focus away from the digital magazine to a web based model.

The company ran in to cash flow difficulties in fate 2015 and over the next 9 months one of the founders, John Dean advanced loans totalling approximately £100,000 to the company.

Although the company was able to increase its revenues (current run rate £70,000 per annum) it had not been able to reach a break-even position at the operating line. The company has survived by the company directors deferring salaries and payment terms extended with major creditors,

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/08050756/filing-history/MzIzMzEyMzIyNmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/08050756

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