Skills Matter Limited (04955555): administration
- Status
- Administration ended
- Administration began
- 2019-10-31
- Administrators
- Ben David Woodthorpe, Mark Supperstone
- Administrators' firm
- ReSolve
- Formerly
- Skillsmatter Limited; Accelerate (UK) Limited
- Incorporated
- 2003-11-06
- Location
- London
- Industry
- 85320 Technical and vocational secondary education
Why it went into administration
- HMRC / tax arrears
From the administrators' statement
Wendy Devolder incorporated the Company on 6 November 2003 as an occupational hobby and initially traded as a technology training provider, having identified a gap in the market to bring together technology professionals who wished to remain up to date with an ever-expanding variety of technologies, developed to meet complex and fast changing business demands.
The business was initially funded by director loans and bank borrowings, guaranteed by Wendy Devolder. The Company experienced steady revenue growth during its first few years of trading, gaining a reputable brand and mass community following. During this period it suffered consistent losses arising from high setup costs, low margin sales, a substantial marketing spend, and investment in its customer database, website and training platforms.
By 2012, the Company's reputation in the market and service offerings had grown significantly and attracted equity investors whom invested £1.4m via loans and preference shares The services offered by the Company now included training courses, conferences and hosting meetups for technology professionals and in 2014 the Company launched its “SkillsCasts” video platform via free and premium subscriptions.
Administrators' statement of proposals (2020-01-02) · Companies House register