# JD Classics Autos Ltd (14032720)

> Why UK company 14032720 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/14032720

- **Status:** In administration
- **Administration began:** 2025-01-27
- **Administrators:** Hugh Francis Jesseman, William Antony Batty
- **Administrators' firm:** Antony Batty
- **Formerly:** JD Classics Holdings Limited
- **Incorporated:** 2022-04-07
- **Location:** Brentwood
- **Industry:** 29100 Manufacture of motor vehicles

## Why it went into administration

- Cash flow / liquidity pressure
- Property / lease costs
- Weak consumer demand
- HMRC / tax arrears

## From the administrators' statement

Provision for Sales or Return Sales and Rent: The balance sheet indicates a significant provision of £312,500 fin respect of sale proceeds due to customers whose vehicles had been sold, on sales or return (“SOR”) terms. In addition, accrued rent liabilities of £94,000 created immediate financial difficulties.

• Stage Payments Received: The company had already received stage payments in adavance of £155,810 linked to ongoing restoration projects where the work had yet to undertaken, further complicating its cash flow position.

• Directors’ and Intercompany Loan Account: The total balance on the loan accounts of £233,789 represented funds provided by the directors and a connected company under their control to support the company, indicating their commitment to the business despite its financial challenges.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/14032720/filing-history/MzQ1OTY1MjkwOWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/14032720

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