# BIT Systems Limited (02706186)

> Why UK company 02706186 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02706186

- **Status:** Administration ended
- **Administration began:** 2012-05-15
- **Administrators:** David Gerard Kirk, Lisa Ann Thomas
- **Formerly:** Pressglobal Limited
- **Incorporated:** 1992-04-13
- **Location:** Plymouth
- **Industry:** 7210

## Why it went into administration

- Cash flow / liquidity pressure
- HMRC / tax arrears
- Sustained trading losses

## From the administrators' statement

Bit Systems Limited was incorporated in 1992 initially as a reseller of branded PCs, then assembling its own PCs It was also a Sage reseller dealing in Sage Line 50 and Sage Line 100 and sold add-on products to Sage 100 and 200 including stock control with hand held scanners and EPOS Till systems

In the recent years prior to our appointment, the Company had made significant losses and the Directors and their family members had injected personal funding into the business to try and remedy the problem but it continued to face cash flow difficulties and the Company began to suffer significant pressure from creditors

The cash flow problems culminated in HMRC threatening to distrain against the company's assets based on a debt of circa £85,000 which would have an adverse affect on the company’s ability to trade

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02706186/filing-history/MzA2MTAwNTEzNGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02706186

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