# Radius Recruitment Ltd. (05870116)

> Why UK company 05870116 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/05870116

- **Status:** Administration ended
- **Administration began:** 2012-04-25
- **Administrators:** James E Patchett, Martin Charles Armstrong
- **Administrators' firm:** BDO
- **Formerly:** Monrose Systems Limited
- **Incorporated:** 2006-07-07
- **Location:** Sutton
- **Industry:** 7450

## Why it went into administration

- HMRC / tax arrears
- Creditor pressure / legal action

## From the administrators' statement

The directors, Moazzam Hussain and Stuart Bingham, sought our advice concerning the financial position of the above company The first meeting with the directors was held on 13” December 2011 At the meeting it was apparent that the company was coming under increasing pressure from the majority creditor, HM Revenue & Customs (“HMRC")

The directors were made aware of the options available and the potential consequences of trading whilst insolvent 1e wrongful trading The company was finding it difficult to discharge the historic Crown debt and other tiabilities At this time, the company was in the process of obtaining a new factoring agreement with Close Invoice Finance Limited (on better commercial terms than RBSIF), which he hoped would improve the company’s cashflow The directors wished to continue with the business until the new factoring agreement was in place

The company was referred to Turpin Barker Armstrong by David Rutter (of Close Invoice Finance Limited), who, as detailed above, was In discussions with the company over a new factoring agreement

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/05870116/filing-history/MzA1NzI2OTQ5N2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/05870116

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