WA Realisations Limited (07724630): administration
- Status
- Administration ended
- Administration began
- 2020-10-02
- Administrators' firm
- Azets
- Formerly
- Warwick Analytical Software Limited
- Incorporated
- 2011-08-01
- Location
- London
- Industry
- 62012 Business and domestic software development
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of my proposals has been prepared based on information provided to me by the directors of the Company and not from my personal knowledge as Administrator.
The Company was incorporated in August 2011 by Daniel Somers to develop software, based on sophisticated computer algorithms, which automates processes, enhances insight and advances the development of Artificial Intelligence for contact centres. It was developed at the University of Warwick over a decade of academic research.
The revenue that the Company had developed from the software was less than had been predicted and had been slower to build than had been anticipated and as a result, the Company’s cashflow forecasts in March 2020 demonstrated that the Company would have insufficient funds available to meet its ongoing liabilities if further investment couldn’t be brought into the business. Asummary of the Company’s trading performance for the last three years is shown below:-
Administrators' statement of proposals (2020-11-03) · Companies House register