Numbers (UK) Limited (05501488): administration
- Status
- Administration ended
- Administration began
- 2022-05-06
- Administrators' firm
- Quantuma
- Formerly
- XMZ Limited
- Incorporated
- 2005-07-06
- Location
- Watford
- Industry
- 69201 Accounting and auditing activities
Why it went into administration
- Regulatory change or action
From the administrators' statement
Nicholas Simmonds of Quantuma Advisory Limited was first approached by Mr Adedayo Sanda whom is the director of the majority corporate shareholder (Numbers UK Group Limited) and the ultimate beneficial owner of the Company on 14 December 2021 to provide advice on the options available for the Company.
Following a review of the financial position together with initial discussions with Mr Sanda it was established that the Company was insolvent on both a balance sheet basis and on a cash flow basis, as the Company could not pay its debts as and when they fell due. It was initially thought that the Company would be best placed to enter Creditors Voluntary Liquidation. But after further review of Company records as well as discussions with Mr Sanda it was subsequently decided that it was better to place the Company into Administration.
Richard Birch & Co (“the Agents”) were instructed to value and market the Company’s business and assets for sale. They have confirmed their independence and carry adequate professional indemnity insurance. They have been valuation agents to Insolvency Practitioners with in excess of 25 years of experience in this area
Administrators' statement of proposals (2022-07-04) · Companies House register