Minis to Midis report published
The auditor’s report into the winding up of Minis to Midis, the Doncaster dealership for Turas coaches supplied by Brian Noone Ltd, reveals a sequence of problems including the theft of one vehicle during administration.
The report, filed with Companies House, details the intention for Minis to Midis to be sold, with Alan White’s son, Paul Gardner. finding a buyer. This did not go ahead because there was no written agreement for ongoing supply with Noone, and that the relationship between the two companies then broke down, with no new coaches then being supplied.
The report reveals that Minis to Midis sought other suppliers but eventually the remaining director, following tragic death of Alan White, placed the business in administration. Among remaining assets were a Sprinter on hire purchase, returned to the finance house, and a Ferqui F5 coach for which a sale price was agreed. Also, a Turas 900 had been sold and £152,000 paid, leaving a £42,400 outstanding, though Noone claimed it had not been paid for the vehicle. The administrator says investigations are ongoing.
A demonstrator on the premises was stolen in a break-in on 4/5 August 2018, but as the vehicle does not form part of the assets of Minis to Midis, the administrator reported the theft to the police and to the owner of the vehicle.
The administrator’s estimate of funds available from assets is around £900,000, with the administrator’s bill of around £140,000 reducing this to around £770,000. However, there are £9,700 secured creditors and £973,619 unsecured creditors, leaving a deficiency of £213,381. HMRC is owed more than £450,000, says the report.
l The auditor’s statement is available at: https://is.gd/OnhhU2