Winchester MD Limited (11121011): administration
- Status
- Administration ended
- Administration began
- 2021-10-01
- Administrators
- Sandra Lillian Mundy, Paul Davies
- Administrators' firm
- FRP Advisory
- Formerly
- Green Biosciences Limited
- Incorporated
- 2017-12-21
- Location
- Southampton
- Industry
- 56290 Other food services
Why it went into administration
- HMRC / tax arrears
From the administrators' statement
The Company was incorporated on 21 December 2017 and operated as an online retailer of cannabis derived products with primary operations being in CBD wellness. It employed one staff member from its head office site.
As part of its activities the Company had intended to cultivate, extract, brand and distribute medical grade cannabis, however, latterly its primary focus had been on the online retail sales of CBD wellness products. The Company had received backing from investors to cover its set up costs, the initial development phase and growth plans. However, it received a VAT demand from HM Revenue and Customs (HMRC) after HMRC found that the Company’s products were not exempt from VAT and that VAT should have been charged on all sales. The Company was not in a position to pay this demand which caused it to become insolvent.
Fraser McGee, of Nexa Law, approached us on 6 August 2021 to see if we could assist by providing advice to the Company. We subsequently had the initial call with the board of directors, on 6 August 2021 at 11.00am. We can confirm that we have had no prior involvement with the Company. It was considered that a sale of assets via a pre-packaged administration would provide the best result for creditor as a whole and took formal instructions on the 11 August 2021 to undertake the following:
Administrators' statement of proposals (2021-10-20) · Companies House register