Unified Solutions Ltd (03080364): administration
- Status
- Administration ended
- Administration began
- 2017-10-06
- Administrators' firm
- Harvey of Harveys Insolvency & Turnaround
- Incorporated
- 1995-07-17
- Location
- Newbury
- Industry
- 62090 Other information technology service activities
Why it went into administration
- HMRC / tax arrears
- Property / lease costs
- Parent or group failure
From the administrators' statement
The Company was incorporated in July 1995. Following incorporation, the Company took on several trading activities but the current position arose from operating as a website designer and developer. At the cessation of trading, the Company was operating from leasehold premises at Whittle Parkway as stated by Section 4 of this report. The issues resulting in these proceedings did not start to manifest until 2015. The Company did not have an overdraft or any conventional funding facilities.
Extracted hereon for five paragraphs is a summary of the ‘background’ narrative provided by the Company to creditors on 18 August 2017 in its proposal for a Company Voluntary Arrangement
Historically, the Company had a long-term agreement with a specific software vendor, which was profitable. However, in 2015 the relationship changed. They moved to focus on larger agency relationships. This negatively impacted upon the Company. A reduction in referrals and leads was experienced, particularly for large value projects. As a result, staff who specialised in this specific software, had little work with the consequential rapid decline in income stream. A significant downturn occurred in large software development contracts, and steps were taken to reduce the number of specialised staff working on that product.
Administrators' statement of proposals (2017-10-26) · Companies House register