Alpha Digital Services Limited (05481345): administration
- Status
- Administration ended
- Administration began
- 2013-03-06
- Administrators' firm
- Harrisons Business Recovery and Insolvency
- Formerly
- MC352 Limited
- Incorporated
- 2005-06-15
- Location
- Reading
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Property / lease costs
From the administrators' statement
The Company was Incorporated on 15 June 2005 by Juhan Panela (JP), and Robert Frazer Allen CRFA’) as joint shareholders. RFA had worked in the photography industry for a number of years, and RFA states that he used his contacts within the industry as the basis on which to build the Company’s clent base. JP had a background in finance and was in charge of the Company’s day to day financial affairs
The Company traded from leasehold premises at 111 Loverock Road, Reading, annual rent on the premises was £41,013.
The Company reported net profits of over £100,000 per annum for tts first two years of trading In April 2006 the Company had approached Natwest with regards to securing extra funding by way of an overdraft facility This resulted in a charge being taken against the Company on 11 April 2006 and registered at Companies House on 19 April 2006.
Administrators' statement of proposals (2013-05-07) · Companies House register