Tepilo Holdings Limited (11080040): administration
- Status
- Administration ended
- Administration began
- 2018-12-04
- Administrators
- Sandra Lillian Mundy, Thomas Charles Russell
- Administrators' firm
- FRP Advisory
- Incorporated
- 2017-11-23
- Location
- Southampton
- Industry
- 68310 Real estate agencies
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was incorporated on 27 November 2017 to hold the shares of Tepilo to facilitate investment into that company. Thereafter, it was acquired by Emoov in May 2018 as part of plans to bring together the trades of Emoov and Tepilo to form a larger concern capable of undertaking an initial public offering.
The Gompany did not trade and had no employees. The Company gave a cross guarantee in respect of lending by Northern & Shel Ventures Limited to Emoov. Northern & Shell Ventures Limited appears to be the Company's only creditor.
The Company had not prepared financial statements at the date of our appointment. The records of Emoov and Tepito indicate that that the Company's onty assets were its investment in Tepilo and intercompany debts due from Emoov and Tepilo for £5,7m and £4,7m respectively. The Company holds a first fixed and floating debenture over the assets of Tepilo.
Administrators' statement of proposals (2019-02-09) · Companies House register