# Believe In Science Ltd (12716172)

> Why UK company 12716172 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/12716172

- **Status:** In administration
- **Administration began:** 2025-09-25
- **Administrators:** Stewart Goldsmith, Nicola Elaine Layland
- **Administrators' firm:** Leonard Curtis
- **Incorporated:** 2020-07-03
- **Location:** Fareham
- **Industry:** 56290 Other food services

## Why it went into administration

- Creditor pressure / legal action
- Property / lease costs
- Sustained trading losses
- Competition / price pressure

## From the administrators' statement

2.1 The company traded as Urban Legend and developed Intellectual Property to be able to produce air fried donuts and cake pots which offer a healthier option to what was already on the market. Using this unique selling point it was felt that this differentiation would result in the company becoming a key player in the market.

2.2 The company invested significant funds in Research and Development as well as Intellectual Property. As a result, funding was required to meet these costs whilst the company grew to a level where it would generate sufficient income to meet its trading costs and ultimately generate returns to the shareholders.

2.3. The company had been funded through a mixture of investments from shareholders (debt and equity, £4.1m of loans and £13.3m of share premium), together with some asset-based lending to fund the tangible assets of the company.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/12716172/filing-history/MzQ4ODM5OTU5MGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/12716172

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