Henderson Carter Associates Limited (07011381): administration
- Status
- Administration ended
- Administration began
- 2016-02-10
- Administrators' firm
- Antony Batty
- Formerly
- Henderson & Dumbleton Limited
- Incorporated
- 2009-09-07
- Location
- London
- Industry
- 66190 Activities auxiliary to financial intermediation n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Regulatory change or action
- Cash flow / liquidity pressure
- Over-expansion / investment not recovered
From the administrators' statement
Initially the Company was based in Cheshire, Neston which was its registered office The business grew relatively slowly from 2009 to 2012 At the end of 2011 a decision was made to open an office in London to service clients in and around this region The new geographical presence was instrumental tn the expansion of the business The introduction of new business lead to rapid expansion Turnover started to grow and began to reach the million pound mark To service the increase in business, more contractors and consultants were employed Temporary contract staff eventually reached 25
The FCA were duly notified of the increase in the firm’s business The rapid increase in turnover raised concerns for the FCA who implemented enforcement and investigation proceedings into the affairs of the Company The FCA subsequently suspended the Company's pension and clients could not be advised whilst the suspension was in effect and no new business could be undertaken
The resultant decrease in business activity brought about by the enforcement proceedings impacted the Company's profitabiltty and cash flows, meaning that other costs such as the contractors and office costs could not be met
Administrators' statement of proposals (2016-04-19) · Companies House register