Asset Life PLC (09144715): administration
- Status
- Administration ended
- Administration began
- 2019-07-25
- Administrators
- Henry Lan, Asher Miller
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2014-07-23
- Location
- London
- Industry
- 64991 Security dealing on own account
Why it went into administration
- Regulatory change or action
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Brexit
From the administrators' statement
The Company was incorporated on 23 July 2014 and started trading shortly after incorporation from serviced offices at 4 Devonshire Street, London W1W SDT. The Company’s principal activity was security dealing on its own account. In practical terms, the Company’s trading activity entailed raising funds from investors, through the issue of corporate debentures or ‘mini-bonds’, in order to invest in early stage companies with growth potential and a stated intention to list publicly on a recognised exchange.
The Joint Administrators are advised that the Company’s overdue statutory accounts for the year ended 31 July 2018 have not been prepared due to lack of funds, and the Joint Administrators have not yet been provided with access to the Company’s accounting records to be able to review more recent management accounts. Accordingly, extracts from the Company’s audited Financial Statements are as detailed below: Y/E Y/E Y/E 31/07/2017 31/07/2016 31/07/2015
(Statutory) (Statutory) (Statutory)
Administrators' statement of proposals (2019-09-24) · Companies House register