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March 1937 - Games and Toys (Trade Journal)

BANCRUPTCY

 

Harry Fisher Page, trading as Purley Timber Supply Co., and Kiddicraft Co. at Bridge Wharf, 6-8 Godstone Road, 2 Bridge Parade and 947a Brighton Road, Purley, Surrey, and British Industries House, Oxford Street, London, W.1. 

 

The creditors herein were called together recently at the Greyhound Hotel, Croydon, when Messrs. Brown, Peet and Tilly, chartered accountants, Croydon, submirtted a statement of affairs which showed ranking liabilities of £15,826 13s. 2d.,made up as follows: 

Trade creditors, £4,889 6s. 8d. ; cash claim, £6,193 10s. 2d. ; rent payable under leases until determinable,  £1,346 ; hire-purchase balances, £162 17s. 1d. ;  and creditors whose claims had been guaranteed, or who held third-party security, £3,234 19s. 3d.  After allowing £24 5s. 6d. for preferential claims the net assets were £2,789 4s. 10d., or a deficiency of £13,037 8s. 4d.  The assets comprised :  Stock, £3,785 14s., valued at £1,892 17s. ; book debts, £732 18s. 11d., expected to produce £603 4s.  ;  deposit, £1  ;  motor-car, £248, valued at £100  ;  motor-lorry, £250, put down at £40 ;  furniture and fixtures, £40 10s. , estimated to realize £5 ;  plant, machinery and tools, £772, expected to realize £40,  ;  and equity in goods under hire-purchase, £131 9s. 4d. 

The deficiency account showed that during the year to April 10th, 1934, there was a net loss on the trading of £1,422and in the following twelve months a net loss of £1,369.  During the year to April 10th, 1936, there was a net profit earned of £84.  Between April 11th, 1936, and January 29th of the present year it was estimated that there had been a net loss of £2,070.  The deficiency was attributed to the losses on the trading, rent payable under leases until determinable, depreciation written off the assets, and drawings since pril, 1933, totaling £1,681.

It was reported that the debtor in April, 1933, purchased the business of the Purley Timber Supply Co., together with the leases and goodwill, for the sum of £1,060.  In the early stages the debtor’s father, who was now an unsecured creditorfor £6,193, made advances totaling approximately £4,000, that money being used for the purposes of developing a wholesale and retail toy business.  The debtor opened shops at Bridge Road and Brighton Road, Purley, and also had a town office at British Industries House, Oxford Street, London, W.  He adopted the style of “Kiddicraft Co.” in connection with a toy business and expended over £1,500on advertising.  Between April of last year and January 29th last he had a turnover of over £14,000, but, unfortunately, there was a net loss incurred of rather more than £2,000.  The oresent position was attributed to heavy overhead charges and the excessive purchases for the Christmas trade, which he was unable to cope with.

An offer was submitted of a composition of 5s. in the £, which it was decided should be accepted.

The following are creditors :-

Acme Metal Works (1931) Ltd. (Brentford), £22 ;  Allen’s (Sheffield), £135 ;  F. Atkins Ltd. (Wembley), £365 ;  D. Bamberger (Lichtenfels), £38 ;   G.R. Bennett (London), £10 ;  Beraton Jig-Saws (Hove) £22 ;  Birn Bros. Ltd. (London), £13 ;  Briggs an Co. Ltd. (London), £135 ;  Britains Ltd. (London), £44 ;  British Industries House (Lonndon), £135 ;  A. A. Brown (Croydon), £150 ;  Burroughs Adding Machine Co. (London), £42 ;  Burt , Boulton and Hayward Ltd. (London), £31 ;  J. H. Butcherand Co. Ltd. (Birmingham). £10 ;  Camden Cardboard Box Co. (London), £44 ;  A. S. Cartwright Ltd. (Birmingham), £210 ;  Cascelloid Ltd. (Leicester), £79 ;  Chad Valley Co. Ltd. (Birmingham), £2,376 ;  Chapman and Co. (Balham) Ltd. (Balham), £17 ;  Colthurst and Harding Ltd. (Bristol), £42 ;  Winifred Cookman (Croydon),  £89 ;  Corrugated Packaging Material Co. Ltd. (Manchester), £17 ;  County of London Electric Supply Co. Ltd. (London), £20 ;  Cowan, de Groot and Co. (London), £43 ;  A. Crofts (Croydon), £18 ;  Croydon Chamber of Commerce (Croydon), £15 ;  Croydon Electricity, £18 ;  C. H. Davis and Co. (Croydon), £20 ;  Denny, Mott and Dickson Ltd. (London), £54 ;  Eaton and Munby Ltd. (Burley), £113 ;  Enham Industies (Andover), £13 ;  B. Goodman and Sons Ltd. (London), £13 ;  Grafton Accessories Co. (London), £110 ;  Graham Bros. (London), £348 ;  Guiterman and Co. Ltd. (London), £11 ;  Mrs. Guntruip (Kenley), £1,196 ;  Thomas Hardy and Sons (Sheffield), £11 ;  G. A. Harvey And Co. (London), Ltd. (London) £12 ;  William Hatchman and Co. (London), £31 ;  L. G. Hawkins and Co. Ltd. (London), £15 ;  Hibbert and Richards (London), £25 ;  Hill, Palmer and Co. Ltd., £34 ;  Hitchcock and Pearce Ltd. (Croydon), £71 ;  Hugo Weigand (Germany), £32 ;  Jenson and Nicholson Ltd. (London), £12 ;  Samuel Jones and Co. Ltd. (London), £39 ;  Kandya Ltd. (Hayes), £63 ;  Lacy Hulbert and Co. Ltd. (Croydon), £10 ;  Landquist, Davies and Co. Ltd. (London), £28 ;  A. W. Laddiatt and Co. Ltd., £66 ;  Lines Bros. Ltd., £42 ;  London Telephone Service (London), £21 ;  Merritt Advertising Service Ltd. (London), £153 ;  A. I. Morse and Sons Ltd. (London), £22 ;  National Teachers’ (1937) Conference (Portsmouth), £15 ;  Nettlefold and Sons Ltd. (London), £13 ;  Joseph Nichols and Son Ltd. (Birmingham), £15 ;  Nobel Chemical Finishes Ltd. (London,), £21 ;  B. North and Sons (West Wycombe), £51 ;  Oakland Press (Croydon),  £17 ;  S. Fisher Page (London), £6,193 ;  Parents (London), £20 ;  Phillips Patents Ltd. (London), £11 ;  Premo Rubber Co. Ltd. (Petersfield), £82 ;  Purley Press (Purley), £484 ; Redline Glico Ltd. (London and Croydon), £44 ;  Reed and Savage (London), £16 ;  Sir W. A. Rose and Co. Ltd. (London), £50 ;  Russell and Chapple (London), £98 ;  C. H. Slaughter and Co. Ltd.. (London), £20 ;  W. H. Smith and Son Ltd. (London), £33 ;  Southern Railway (Purley), £22 ;  Sundt, Sundt and Co. (London), £15 ;  John Tait and Partners Ltd. (London), £173 ;  W. B. Tattershall Ltd. (London), £12 ;  United Motor Finance Corporation (Slough), £89 ;  Unity Pack Co. (Southport), £34 ;  Waddy Productions (London), £27 ;  Wales Ltd. (Birmingham), £168 ;  A. E. Walker Ltd. (London), £14 ;  War Relief Toy Works (London), £50 ;  Warbey and Son Ltd. (London), £17 ;   Watson and Crossland Ltd. (Croydon), £39 ;  West London Timber and Moulding Co. Ltd. (London), £15.

 

Games & Toys Trade Journal, March 1937


May 1937 - Games and Toys (Trade Journal)

BANKRUPTCY

 

Harry Fisher Page, trading as Purley Timber Supply Co.,  6 and 8 Godstone Road, Purley, and trading as Kiddicraft Co., 2 Bridge Parade, Godstone Road, Purley ; 947a Brighton Road, Purley, and Kimberley Place, Brighton Road, Purley, Surrey, and lately trading as Kiddicraft Co., British Industries House, Oxford Street, London, W.1. Timber merchant and toy factor.

 

The first meeting of creditors herein was held recently at Bankruptcy Buildings, Carey Street, London, W.C.2, when the Official Receiver said that the unsecured creditors’ claims amounted to £14,305 17s. 2d., and there were contingent liabilities totaling £1,358.  The assets were estimated to realize, gross, 

£3,705 6s. 2d., but were subjected to preferential claims of £10.  The deficiency was estimated at £11,968 11s.  The creditors passed a resolution in favour of the appointment of Mr. F. S. Parsons, of Messrs. Brown, Peet and Tilley, C.A., Bank Buildings, High Street, Croydon, as trustee of the estate, with a committee of inspection.

 

Games & Toys (Trade Journal) - May 1937


June 1937 - Games & Toys (Trade Journal)

BANCRUPTCY

 

Harry Fisher Page, trading as Purley Timber Supply Co.,  6 and 8 Godstone Road, Purley, and trading as Kiddicraft Co., 2 Bridge Parade, Godstone Road, Purley ; 947a Brighton Road, Purley, and Kimberley Place, Brighton Road, Purley, Surrey, and lately trading as Kiddicraft Co., British Industries House, Oxford Street, London, W.1. Timber merchant and toy factor.

This receiving order was made on the debtor’s own petition, and he has lodged a statement of affairs showing gross liabilities of £15,673 17s. 2d., of which £15,663 17s. 2d. is expected to rank for dividend, against net assets of £3,695 6s. 2d., with a deficiency of £11,968 11s.  

It appears that the debtor commenced trading on his own account in March 1933, being financed by his father.  He purchased the business of a timber merchant and sawmills at 6-8 Godstone Road for £1,175 the existing stock for £80 and timber from merchants to the value of £1,000.  Early in 1934 he commenced business as a factor in children’s toys and nursery furniture.  

During the year to April, 1934, the turnover was £2,409, with a net loss of £1,422.  In the following year, although the turnover increased to £5,688, there was a further net loss sustained of £1,369.  During the year to April, 1936, the turnover increased to £9, 354, and there was a net profit earned of £83, whilst from April, 1936, to January of the present year there was a net loss of £2,070 on a turnover of  £14,064.  The premises at 2 Bridge Parade were acquired about the end of April, 1934, and in September, 1935, the debtor took a lease of 947a Brighton Road. About two months later he obtained a lease on the premises in Kimberley Place.  During 1936 the debtor embarked upon an extensive mail order campaign and after October, 1936, rented showrooms at British Industries House, Oxford Street, W.  He attributes his failure to increased overhead expenses, and to having over-bought during 1936 toys and nursery furniture which were not sold during the Christmas season of that year and which were not immediately saleable afterwards.

 

Games & Toys Trade Journal, June 1937


October 1937 - Games and Toys (Trade Journal)

DISCARGE FROM BANKRUPTCY

 

Kiddicraft

In our Commercial News this month a report is given of the application of Mr. H. F. Page, of The Kiddicraft Co., for his discharge from bankruptcy.  Mr. Page received his discharge, subject to six months’ suspension.  The business of Kiddicraft Co. is still being carried on under a trustee, and trading is quite normal.  In a communication to us Mr. Page writes that many people in the trade have shown great faith in Kiddicraft during this most difficult period, and he feels that the business has a very great future.  The range of “Sensible” toys has been increased considerably.  We were interested to hear from him that Kiddicraft Co. are still deriving considerable benefit from advertisements that appeared in Games and Toys nearly a year ago, and he tells us that fresh enquiries are coming in all the time.

 

Games and Toys (Trade Journal) – October 1937