Radio Tactics Limited (04416139): administration
- Status
- Administration ended
- Administration began
- 2015-10-05
- Administrators
- Michael Robert Fortune, Carl Derek Faulds
- Administrators' firm
- Proudley Associates
- Incorporated
- 2002-04-15
- Location
- Fareham
- Industry
- 62090 Other information technology service activities
Why it went into administration
- Creditor pressure / legal action
- Competition / price pressure
- Cash flow / liquidity pressure
From the administrators' statement
The company was incorporated as a private limited company on 15 April 2002 Since September 2012 the company has traded from leasehold premises at Compass House, Romsey Road, Southampton and at the date of administration employed 25 members of staff The company also had a presence in Australia and America, through two fully owned subsidiaries
The company designed and manufactured high-tech digital intelligence, mobile data device forensics and evidence gathering equipment used globally by military, law enforcement, governments and intelligence agencies More details can be found at the website www radio-tactics com
Funding has been provided by an invoice discounting agreement with RBS Invoice Finance Limited (RBSIF), which has a specific charge over the debts of the company and a fixed and floating charge over the general assets of the company, granted on 9" July 2007 This is further supported by a personal guarantee of the director Andrew Gill An overdraft facility and credit card were provided by National Westminster Bank Ple (NatWest) which has a debenture conferring fixed and floating charges over the assets of the company granted on 22" June 2007 At the date of administration it was owed £83k A further loan of £60k was granted by Eastleigh Borough Council, which is supported by a fixed and floating charge debenture granted on 24" April 2015
Administrators' statement of proposals (2015-11-27) · Companies House register