Deceasedumbrella.Com Limited (06254291): administration
- Status
- Administration ended
- Administration began
- 2017-09-14
- Administrators' firm
- Quantuma
- Formerly
- Racs Collective Limited
- Incorporated
- 2007-05-21
- Location
- London
- Industry
- 69202 Bookkeeping activities
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Parent or group failure
From the administrators' statement
During the profitable years of the Company there was considerable expenditure on non-core assets and marketing which had an adverse impact on the Company’s cashflow. In addition there was substantial investment in a payroll product that was ultimately deemed obsolete before being introduction due to a change in legislation.
In February 2017 it became clear that the Company would not be able to meet its liabilities to HMRC in respect of PAYE. As a result, a Notice of intention to Appoint an Administrator was filed in March 2017, but forthcoming investment meant that the appointment of administrators was not necessary at that stage.
There was an investigation carried out into the Company's affairs led by HMRC, but we understand that this was brought to a conclusion in April 2017 leading to approximately £36,000 being payable on assessment. Those amounts were duly paid.
Administrators' statement of proposals (2017-11-02) · Companies House register