Is Only Fools Ltd in creditors' voluntary liquidation?
Last verified 26 May 2026
Yes, Only Fools Ltd (company number 12139941) entered creditors' voluntary liquidation on 9 October 2023, by its creditors. Lila Thomas of null was appointed as liquidator.
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Only Fools Ltd is now in creditors' voluntary liquidation. Below are the key dates, the directors, the public-record timeline that led here, and what the liquidation means if you are a creditor, employee, customer or supplier.
Company at a glance
| Status | In Creditors' Voluntary Liquidation |
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| Company number | 12139941 |
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| Incorporated | 5 August 2019 (7 years old) |
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| Registered office | Frp Advisory Trading Limited, Derby House, 12 Winckley Square, Preston, PR1 3JJ |
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| Nature of business (SIC) | 56302: Public houses and bars (Hospitality & food) |
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| Date entered creditors' voluntary liquidation | 9 October 2023 |
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| Liquidator | Lila Thomas, null (licensed insolvency practitioner) |
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| Public register | View filing history ↗ |
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About the business
Only Fools Ltd is a hospitality & food business based in Preston, incorporated in 2019 and 4 years old when the liquidator was appointed. Its registered activity is public houses and bars (SIC 56302). There have been 4 director appointments since incorporation, of which 1 was on the board when the liquidator was appointed, alongside 1 person with significant control.
Directors
4 people have been appointed as directors of Only Fools Ltd.
DirectorStatusAppointedResigned
A director resignation shortly before an insolvency is a matter of public record; it does not by itself imply wrongdoing.
Persons with significant control
Individuals or entities with significant influence or control.
Mr Craig Charles Mcdermott
individual person with significant control · British · England
Ownership of shares 75-100%
1 ceased control
- Mr James Richard Daly · ceased 17 May 2023
What happened
EventDateType
Liquidators' statement of receipts and payments15 January 2026LIQ03
Liquidators' statement of receipts and payments11 December 2024LIQ03
Cessation as a person with significant control14 November 2023PSC07 Termination of appointment as a director14 November 2023TM01 Registered office address changed20 October 2023AD01 +22 earlier events · 2020 to 2023
Appointment of a voluntary liquidator20 October 2023600
Statement of affairs20 October 2023LIQ02
Creditors' voluntary liquidationStatus9 October 2023
Director's details changed10 July 2023CH01 Director's details changed10 July 2023CH01 Registered office address changed10 July 2023AD01 Total exemption full accounts made up25 May 2023AA Change of details as a person with significant control17 May 2023PSC04 Confirmation statement made with updates17 May 2023CS01 Notification as a person with significant control17 May 2023PSC01 Confirmation statement made with updates22 February 2023CS01 Termination of appointment as a director22 February 2023TM01 Termination of appointment as a director24 January 2023TM01 Confirmation statement made with no updates15 August 2022CS01 Total exemption full accounts made up20 December 2021AA Confirmation statement made with no updates17 August 2021CS01 Total exemption full accounts made up1 April 2021AA Compulsory strike-off action has been discontinued2 December 2020DISS40 Confirmation statement made with no updates1 December 2020CS01 First Gazette notice for compulsory strike-off1 December 2020GAZ1 Registered office address changed19 November 2020AD01 Incorporation5 August 2019NEWINC What this means for you
If you are a creditor
Submit your proof of debt to the liquidator. Once liquidation begins, no creditor can start or continue legal action without the court's permission. Unsecured creditors rank after secured and preferential creditors and are usually paid last, often only a portion.
Owed money by a company in liquidation →If you are an employee
Employees are preferential creditors for certain unpaid wages and holiday pay, and may be able to claim from the Redundancy Payments Service if roles are made redundant.
Employee rights and redundancy pay →If you are a customer
Deposits paid are usually unsecured claims. Contracts may be terminated by the liquidator. Contact the liquidator about outstanding work or refunds.
What customers can recover →If you are a supplier
Goods supplied before the liquidation began are an unsecured claim. Check whether any retention-of-title clause lets you identify and recover specific goods.
How retention of title works →Don't be the last to know next time
Most suppliers only find out a customer has failed once it is announced. By then it is too late. Protect monitors every company you sell to and emails you as the warning signs build, well before it becomes official. We can't stop a customer failing, but you'll never be the last to know, and you'll know you did all you could.
See how Protect works, £24/mo →Other hospitality & food companies in creditors' voluntary liquidation
Related guides
The bigger picture
Frequently asked questions
- Is Only Fools Ltd in creditors' voluntary liquidation?
- Yes. Only Fools Ltd (company number 12139941) entered creditors' voluntary liquidation on 9 October 2023, by its creditors. Lila Thomas of null was appointed as liquidator.
- Who is the liquidator of Only Fools Ltd?
- Lila Thomas, a licensed insolvency practitioner at null, was appointed liquidator of Only Fools Ltd on 9 October 2023. Creditors can contact the liquidator directly to submit a claim.
- What does Only Fools Ltd do?
- Only Fools Ltd's registered nature of business is public houses and bars (SIC 56302). It is classified in the hospitality & food sector.
- Where is Only Fools Ltd based?
- Only Fools Ltd's registered office is Frp Advisory Trading Limited, Derby House, 12 Winckley Square, Preston, PR1 3JJ. The registered office is the address held on the public register, which is not always the trading address.
- When was Only Fools Ltd founded?
- Only Fools Ltd was incorporated on 5 August 2019, 4 years before the liquidator was appointed.
- What is Only Fools Ltd's company number?
- Only Fools Ltd's registered company number is 12139941.
- Who has significant control of Only Fools Ltd?
- 1 active person with significant control over Only Fools Ltd is on the register: Mr Craig Charles Mcdermott.
- What does liquidation mean for creditors of Only Fools Ltd?
- Liquidation is the formal wind-up of a company. Once it begins, the liquidator collects assets, settles claims in statutory order (secured, preferential, then unsecured) and distributes whatever remains. Unsecured creditors often recover only a portion of what they are owed, and sometimes nothing.
- How long does liquidation take?
- Most liquidations run for 12 to 24 months, longer where the company has complex assets, litigation, or ongoing trading. Annual progress reports are filed by the liquidator until the company is dissolved at the end of the process.
- Will creditors get paid in Only Fools Ltd's liquidation?
- Secured creditors are paid from the assets they hold a charge over. Preferential creditors (employee wages up to limits, pension contributions, HMRC for certain taxes) come next. Unsecured creditors share whatever remains, which may be nothing. The Statement of Affairs, when filed, sets out the liquidator's estimate at the point of appointment.
Report an error on this page·Not financial, credit or legal advice.