# LTF3 Limited (08951362)

> Why UK company 08951362 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/08951362

- **Status:** Administration ended
- **Administration began:** 2016-05-27
- **Administrators:** Matthew Richard Meadley Wild, Phillip Rodney Sykes
- **Administrators' firm:** RSM
- **Incorporated:** 2014-03-20
- **Location:** Henley-on-Thames
- **Industry:** 64929 Other credit granting n.e.c.

## Why it went into administration

- Sustained trading losses
- Parent or group failure

## From the administrators' statement

Shortly after incorporation, on 30 June 2014 the Company entered into a secured term loan facility with GLI Finance Limited ("GLI") for the amount of £1,500,000, in order to provide sufficient cash flow for its capital solutions lending On 29 September 2014, the Company entered into a further facility agreement for a total principal amount not exceeding £4,500,000 By 8 July 2015, the facility had increased to £4,870,000 (plus interest)

With the agreement of GLI, in October 2014 the Company transferred £1,000,000 from the facility to LTF, as an unsecured inter-company loan, with no formal agreement between the two companies This was to enable LTF to repay another lender

In March 2015 a further £1,000,000 was transferred to LTF, apparently, according to LTF’s records, to repay the same lender This transfer was on the basis that £1,000,000 of performing loans were to be

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/08951362/filing-history/MzE1MzkzOTkwOWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/08951362

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