Worlds Spinners Ltd (08721749): administration
- Status
- Administration ended
- Administration began
- 2015-02-02
- Administrators
- Christoper Kenneth Williams, Andrew Mctear
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2013-10-07
- Location
- Norwich
- Industry
- 47910 Retail sale via mail order houses or via Internet
Why it went into administration
- Supply chain disruption
From the administrators' statement
The Company was incorporated on 7 October 2013 The Company's principal trading activity was the sale of goods such as toys and board games using both e-Bay and Amazon accounts in the Company's name The Company traded from Premises at 1A Washington Street, Northampton, Northamptonshire, NN2 6NL (“the Premises”)
From the date of incorporation until the middle of 2014, the Company's draft accounts to 31 July 2014 showed a provisional net profit of £35,978
A business loan of £32,915 58, with total interest of £9,874 72 (total repayable £42,790 30) was obtained from Fleximize Limited, a flexible business loan provider This loan was secured by way of a fixed and floating charge over the Company's fixed and floating assets This charge was created on 29 July 2014 and registered at Companies House on 8 August 2014 When making the loan application, the director stated that these funds were needed to enable the Company to purchase larger volumes of stock to sell through its e-Bay and Amazon accounts A Company website was also set up, but was never made operational
Administrators' statement of proposals (2015-04-09) · Companies House register