# D.C. Communications 2000 Limited (04037345)

> Why UK company 04037345 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04037345

- **Status:** Administration ended
- **Administration began:** 2012-03-23
- **Administrators:** Debi Harvey, Paul Robert Boyle
- **Administrators' firm:** Harrisons Business Recovery and Insolvency
- **Incorporated:** 2000-07-20
- **Location:** Reading
- **Industry:** 7260

## Why it went into administration

- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Property / lease costs

## From the administrators' statement

The Company was incorporated on 20 July 2000 and Daniel Colgate was appointed Director on the same day The principal trading activity was providing voice and data cable installation on contracts to the construction industry The Company traded from leasehold premises at Unit la The Summit Centre, Hanworth Road, Middlesex (‘the Premises’) which were occupied at a rent of £12,500 per annum Initial funding was provided by National Westminster Bank Pic (the Bank’) by way of an overdraft facility up to the sum of £30,000 and a factoring facility provided by SMEIF

The Oirector has stated that the Company traded successfully from 2000 to 2008, achieving annual turnover in the region of £1,500,000, resulting in annual gross profit of circa £300,000 Problems were expenenced from the end of 2009, as a result of the downturn in the economy placing constrictions on building trade contracts, and therefore reducing its profit margins Furthermore, it was identified that the financial records of the Company were not being maintained and management accounts were not available As a result the Director has stated that he was unable to establish whether the contracts were profitable Cashflow difficulties were experienced and the Company was unable to keep up with payments due to the landlord and other creditors.

On 8 March 2012 the landlord of the Premises instructed bailiffs to attend the Premises to levy distraint over the Company’s assets for unpaid rent totalling £2,500 However, as a result of the lack of assets, no distraint was exercised, and the landlord advised that he would seek to forfeit the lease if the rent was not brought up to date by 25 March 2012 Furthermore, during March 2012, the Company was also served with a winding up petition by Spring Payroll Services Limited for sums outstanding of £22,031, with the hearing being listed for 30 April 2012

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04037345/filing-history/MzA1Nzc5Mjg4MWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04037345

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