# Mindstorm Ltd (05071596)

> Why UK company 05071596 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/05071596

- **Status:** Administration ended
- **Administration began:** 2012-04-18
- **Administrators:** Kevin Anthony Murphy, Richard Howard Toone
- **Administrators' firm:** Insolvency Practitioners of CVR Global
- **Formerly:** Betaminds Limited
- **Incorporated:** 2004-03-12
- **Location:** London
- **Industry:** 5118

## Why it went into administration

- HMRC / tax arrears
- Competition / price pressure
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Sustained trading losses
- Weather / natural events

## From the administrators' statement

The Company was incorporated on 12 March 2004 as Betaminds Limited to provide general leading edge technology solutions and consultancy to the trade marketing function of FMCG (Fast-Moving Consumer Goods) companies

In March 2007 the Company changed its name to Mindstorm Limited and shifted Its focus to providing multi-touch / surface computing solutions for the Retail, Hospitality and Exhibition sectors The Company designed, assembled and installed multi touch interactive tables and surfaces, predominantly for the leisure and retail sectors These products were designed and produced bespoke to customers’ individual requirements, and were sold under brand names ‘Bar’, ‘Eclipse’, ‘Aurora’ and ‘Vortex’

In 2009, in an attempt to drive forward its strategy of becoming software-centric company targeting the casino segment, the Company secured external investment from 1° Corporate Technologies APS (‘1CT”) (a Danish Venture Capital firm) through its investment vehicle Ceranco Equity S C S ("Ceranco")

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/05071596/filing-history/MzA1NzI1ODgwOWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/05071596

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