# Handsome Limited (07531194)

> Why UK company 07531194 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/07531194

- **Status:** Administration ended
- **Administration began:** 2019-11-28
- **Incorporated:** 2011-02-16
- **Location:** Sheffield
- **Industry:** 86900 Other human health activities

## Why it went into administration

- Sustained trading losses
- Funding withdrawn / unable to refinance
- Competition / price pressure

## From the administrators' statement

The information provided in this section is based upon the Company's records, information provided by the Company’s management team and the explanations of its directors. The Joint Administrators cannot therefore be held personally liable for any error or misstatement of fact contained herein.

The Company was incorporated in 2011 and developed a large range of healthcare products specifically designed to improve posture and reduce back pain. Many of the Company’s products were branded as approved by the London Spine Clinic, a leading expert in the back pain and posture industry. Latterly, the Company operated in three jurisdictions, namely the UK, Hong Kong and the United States of America (“US”). The US and Hong Kong businesses are wholly owned subsidiaries of the Company.

The directors set about raising funds to assist with the research, design and development of various products to provide pain relief, along with orthopaedic applications. Funding requirements were satisfied by way of investment from members, who advanced funding to the Campany by way of share capital. The various investments in the Company were made pursuant to an approved Enterprise Investment Scheme (“EIS”) which allowed the Company to raise money to grow its business via share capital and offer tax relief to individual investors who acquired new shares in the Company. At the date of the Proposals, the Company's share capita! amounts to £7,824,645, made up of sums invested 74 members who each hold various classes of shares in the Company. The Company’s members comprise a number of institutional, high net-worth individuals and UK investors. Investment from shareholders supported the Company's initial working capital requirements and indeed has supported its trading losses following commencement of trade.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/07531194/filing-history/MzI1MjA4NDk1MmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/07531194

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