Tue, 06 Aug 2024 | ADMINISTRATION
Since our last update, the following businesses have been confirmed as having fallen into administration. All dates indicate when the administration was posted by the Gazette and not necessarily the dates on which administrators were appointed.
Tommi’s Burger Joint Limited – July 31
Tommi’s Burger Joint Limited, a fast-food chain with a location in Marylebone, fell into administration last week, with Andrew Hook and Julie Palmer of Begbies Traynor appointed as joint administrators.
In the company’s accounts for the year to September 30 2022, its fixed assets were valued at £206,455 and current assets at £345,237. However, its debts meant that the company’s liabilities totalled close to £3.9 million.
Specialised Management Services Limited – July 31
Specialised Management Services Limited, a designer and manufacturer of hydraulic, pneumatic and electrical control systems for energy industry applications, fell into administration last month, with Alistair Wardell and Richard Lewis of Grant Thornton appointed as joint administrators. The company is a subsidiary of Alderley Plc, which has also fallen into administration.
In the year to September 30 2022, the company reported revenue of £12.8 million, up from £8.7 million a year earlier, while cutting its losses from £540,417 in 2021 to just under £18,000. At the time, its total equity was just over £4 million.
Alderley Systems Limited – July 31
Alderley Systems Limited, another Alderley Plc subsidiary, a provider of aftermarket services for the energy industry, fell into administration in July, with Alistair Wardell and Richard Lewis of Grant Thornton appointed as joint administrators.
In the year to September 30 2022, the company’s revenue was close to £5.1 million, down from £7.3 million a year earlier, but it did move from an operating loss of £1.2 million in 2021 to a profit of £681,069. At the time, its total equity was £2.7 million.
ARG Maxela UK Limited – August 1
ARG Maxela UK Limited, a London-based restaurant, fell into administration last month, with Nick Parsk and Kalani Gunawardana of Oury Clark Chartered Accountants appointed as joint administrators. The business is part of the Macellaio RC chain, which has seen several restaurants fall into administration over recent months.
In accounts for the year to December 31 2022, its fixed assets were valued at £351,096 and current assets at £3.5 million, with total equity amounting to £1.5 million.
Frog Systems Limited – August 2
Frog Systems Limited, a Glasgow-based wellness technology company, fell into administration last month, with Craig Morrison and Brian Milne of Quantuma appointed as joint administrators.
In the company’s accounts to December 31 2022, its fixed assets were valued at £1.1 million and current assets at just under £280,000, with net assets amounting to slightly over £1 million.
Hitchcock & King Enterprises Limited – August 2
Hitchcock & King Enterprises Limited, a London-based builders and timber merchants, fell into administration last week, with Nicholas Holloway and Stephen Absolom of Interpath Advisory appointed as joint administrators.
The company’s collapse was attributed to challenging trading conditions, including decreasing margins and rising costs. The joint administrators will continue trading the business for a short period while exploring options.
In accounts to March 31 2023, the firm reported turnover of £13.3 million, down from £16 million a year earlier, while falling from an operating profit of close to £1.2 million to a £1.1 million loss. At the time, its net liabilities totalled nearly £55,000.
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The House of Emerald Dragon Limited – August 5
The House of Emerald Dragon Limited, a real estate investment firm based in London, fell into administration last week, with Alexander Kinninmonth and Daniel Conway of FRP Advisory appointed as joint administrators.
In accounts for the year to February 28 2023, its fixed assets were valued at £7.3 million, with net assets standing at just under £3.4 million.
The Vampire’s Wife Limited – August 5
The Vampire’s Wife Limited, an East Sussex-based clothing firm owned by Susie Cave, wife of singer Nick Cave, fell into administration at the end of July, with Richard Hunt and David Kemp of SFP Restructuring appointed as joint administrators.
In the company’s accounts for the year to Deecember 31 2022, its revenue stood at slightly over £5 million, up from £3.3 million a year earlier, while it cut its post-tax losses from £2.7 million to just under £16,000. At the time, its net liabilities totalled close to £1 million.
Axis International Security Services – August 5
Axis International Security Services, a security services firm based in Preston, fell into administration last month, with Megan Singleton and Mark Colman of Leonard Curtis appointed as joint administrators.
In accounts for the year to December 31 2022, its fixed assets were valued at around £92,000 and current assets at £2.4 million, with net assets amounting to £934,567.
Centili Limited – August 5
Centili Limited, a mobile payments platform headquartered in Salford, fell into administration at the end of July, appointing Nick Parsk and Kalani Gunawardana of Oury Clark Chartered Accountants as joint administrators.
In accounts for the year to December 31 2022, it reported turnover of £524,185, down from £2.4 million a year earlier, while seeing its losses increase from£2 million to £3.2 million. At the time, its net liabilities totalled £3.9 million.
Eurospan Limited – August 6
Eurospan Limited, a London-based publishing company, fell into administration last month, with Alex Cadwallader and Dane O’Hara of Leonard Curtis appointed as joint administrators.
In the company’s accounts for the year to December 30 2022, it reported turnover of £10.3 million, down from £11.4 million a year earlier, while falling from a pre-tax profit of £624,543 to a loss of £116,179. At the time, its net assets were valued at £1.4 million.
DCW Management Limited – August 6
DCW Management Limited, previously Allseas Global Management Limited, an international freight forwarding company, fell into administration last week, with Chris Newell and Jo Leach of Quantuma appointed as joint administrators.
In accounts for the year to December 31 2022, the company’s turnover stood at £54.8 million, down from £41.6 million a year earlier, while it fell from a post-tax profit of £5 million in 2021 to a post-tax loss of £3.2 million. At the time, its net assets were valued at £2.6 million.
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