# Vision Accendo Limited (06756789)

> Why UK company 06756789 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/06756789

- **Status:** Administration ended
- **Administration began:** 2018-03-28
- **Administrators:** Julie Anne Palmer, Sally Richards
- **Administrators' firm:** Begbies Traynor
- **Formerly:** Vision Hampshire Limited
- **Incorporated:** 2008-11-24
- **Location:** Salisbury
- **Industry:** 47990 Other retail sale not in stores, stalls or markets

## Why it went into administration

- Loss of a key customer, supplier or contract

## From the administrators' statement

The Company was profitable to the year ending 31 December 2016 At that time the Company had four directors and four shareholders, including Calvin Caunter. During 2017 three of the Company’s four directors and two of its senior staff resigned Mr Caunter agreed to purchase the shareholding of three of those who left, using funds he borrowed from his father, although these changes do not appear to have been reflected fully at Companies House

Mr Caunter hired a new finance manager in December 2017 and finally gained full access to the Company's bank accounts and finance software Mr Caunter says that information provided by Danni Luo (the Company's former finance manager) suggested the previous investors/shareholders received significant dividends, returns and wages These appear to have been paid from profits, which would mean they are lawful. However, it did mean very little funding was left in the Company to support working capital and contribute to tts continued growth.

The Company went through a process of reducing overheads, making redundancies, and stripping out less profitable activities Due to the collapse of Carillon some of the contracts with Mitie (the Company's largest customer) ended The Company also suffered financially due to an historical legal dispute with Southampton Football Club, which resulted in the company having to rectify works at its expense Recently the Company was also left trying to finalise several large contracts that had prepayment elements which put further strain on cash flow as the profit from that work would have been front-loaded In summary Mr Caunter says the following key factors contributed to the Company's demise

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/06756789/filing-history/MzIwMzgzMjMxM2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/06756789

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