Demo Media Limited (04019557): administration
- Status
- Administration ended
- Administration began
- 2011-07-29
- Formerly
- CEM Kocu Limited
- Incorporated
- 2000-06-22
- Location
- Crawley
- Industry
- 7260
Why it went into administration
- Property / lease costs
From the administrators' statement
Demo Media Limited was formed in June 2000 and traded as a small digital design agency, specialising In providing support for conferences and events The Company is owned 50 50 between Cem Kocu and his wife Sibel Kocu
Atherton Bailey was first asked to advise in regard to the financial difficultes of the Company in July 2011 after being referred to us by their accountants Prior to July 2011, neither Atherton Bailey nor any of its partners had any prior professtonal relationship with the Company, its directors or shareholders We are told that the financial difficulties of the Company had pnmanily arisen from poor professtonal advice given by former accountants which resulted in the company suffering unexpected VAT and Corporation Tax claims The financial position of the Company was made worse by the fact that it was unaware of an accumulating but unbilled liability for Business Rates The company attempted to make a payment plan with HM Revenue & Customs, however this was not achievable within the timescales required by them
Following our review with the director, Mr Cem Kocu, we concluded that the Company was insolvent and was unable to continue trading without formal insolvency protection We recommended that the Company be put into Administration and agreed to give comprehensive advice and ongoing assistance fo the Company and tts director in the penod leading up to this The Company, by decision of its shareholders, entered Administration on 29 July 2011
Administrators' statement of proposals (2011-09-16) · Companies House register