Art Projects For Schools Limited (03578098): administration
- Status
- Administration ended
- Administration began
- 2023-07-17
- Administrators
- Dominik Thiel-Czerwinke, Wayne Macpherson
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1998-06-09
- Location
- Leigh on Sea
- Industry
- 18129 Printing n.e.c.
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
- HMRC / tax arrears
From the administrators' statement
The Company’s primary source of income was from a subcontract for an associated company which supplies training and coaching products to their blue chip commercial clients where they build a culture, commitment and skills to improve deliver business results. This accounted for approximately 80% of the Company's revenue. The remining 20% was generated though school fundraising projects. The Company’s turnover was decimated with the Covid 19 Pandemic and enforced school closures and the training supplier was unable to provide their services to their clients as predominantly these were face to face meetings. This resulted in two years the Company was not receiving the orders and turnover necessary to continue to function. The Director's wife has injected a total of £3,450,809 into the business to assist and is no longer able to sustain further lending.
Creditor liabilities have been mounting with historic VAT and PAYE/NIC arrears built up and threat of winding up officially presented to the Company by HMRC.
The Company was insolvent as it was unable to pay its debts as and when they fell due, and the primary
Administrators' statement of proposals (2023-08-02) · Companies House register