Advance Digital Print Limited (07049415): administration
- Status
- Administration ended
- Administration began
- 2013-02-21
- Administrators' firm
- FRP Advisory
- Incorporated
- 2009-10-19
- Location
- London
- Industry
- 18129 Printing n.e.c.
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Competition / price pressure
From the administrators' statement
The Company was incorporated in October 2009 and commenced trading as a multi service digital printing provider following the acquisition of the business and certain assets from the administrators of Advance Reprographic Printers Limited in April 2010
The Company traded from leasehold premises in Gt Titchfield Street, Central London The lease was due to expire on 22 May 2013 therefore management had identified other premises better suited to the business's needs Having paid a deposit to secure the premises in 2012 the Company did not subsequently have the financial capability to relocate as a result of a downturn tn trade over the summer of 2012,
The Company had been profitable since the purchase of the predecessor business in 2010 and had made profits of £178k in the 17 months to 31 March 2011 and £119k in the year to 31 March 2012. The profits made during the first two years of trading resulted in a corporation tax lability of c£32k
Administrators' statement of proposals (2013-04-12) · Companies House register