QSE Realisations Ltd (06864132): administration
- Status
- Administration ended
- Administration began
- 2019-03-26
- Administrators
- Paul Ellison, Gareth Wyn Roberts
- Administrators' firm
- KRE Corporate Recovery
- Formerly
- Quantum Special Effects Ltd
- Incorporated
- 2009-03-31
- Location
- Reading
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- HMRC / tax arrears
- Sustained trading losses
From the administrators' statement
3.1 KRE Corporate Recovery LLP (“KRE”) was called by the director of the Company, Shaun Barnett, on 5 February 2019. He was recommended to KRE by Nick Byfield of DSA Advisory Accountants in Marlborough, Wiltshire, who is an acquaintance of the director. Prior to this call neither KRE nor any of its partners or staff were aware of the Company or its director and no-one at KRE had had any prior dealings with the Company or any of its director.
3.2 We were advised by the director that the Company had incurred trading losses in recent months and as a consequence had built up arrears with HM Revenue & Customs (“HMRC”). We were asked to contact HMRC and ascertain if HMRC was amenable to a repayment plan over a period of time.
3.3. Two proposals were put to HMRC during the course of February 2019, both of which were declined, and HMRC then wrote to the Company on 5 March 2019 giving it seven days to repay the debt in full or they would petition for the compulsory winding-up of the Company. This led to the decision by the Board to enter Administration.
Administrators' statement of proposals (2019-05-14) · Companies House register