Dowle Horrigan Limited (04454505): administration
- Status
- Administration ended
- Administration began
- 2011-03-31
- Administrators' firm
- Begbies Traynor
- Formerly
- Crystal Image Limited
- Incorporated
- 2002-06-05
- Location
- Cardiff
- Industry
- 7487
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was a two “partner” practice employing three full time and one part time persons trading largely in the South East Wales area as accountants and tax advisers
The Company traded successfully for many years largely dealing with small to medium sized local businesses In recent years the economic chmate has been difficult and affected many of the Company's chents resulting in slower payment of fees and delays in having accounts prepared Bank borrowing effectively dred up for all but “blue chip” cases and cash flow for small businesses was severely affected
Late in 2009, early in 2010 a few larger clients were lost through liquidation as a result of bank pressure which resulted not only in a loss of revenue for fees issued and also not yet billed but also reduced the work load of the practice on an ongoing basis The Directors reviewed their business plan and reorganised the practice such that they felt the Company could cope with the challenges presented by these circumstances The problems created by the recession were still evident but many chents were moved to standing order arrangements and marketing efforts started to produce clients to replace those that had been lost
Administrators' statement of proposals (2011-06-06) · Companies House register