Trilogy IT Limited (07850434): administration
- Status
- Administration ended
- Administration began
- 2015-01-09
- Administrators
- Philip Lewis Armstrong, Jason Daniel Baker
- Administrators' firm
- FRP Advisory
- Incorporated
- 2011-11-16
- Location
- London
- Industry
- 62020 Information technology consultancy activities
Why it went into administration
- Creditor pressure / legal action
- Competition / price pressure
- Funding withdrawn / unable to refinance
- Sustained trading losses
From the administrators' statement
Trilogy IT Limited (“Trilogy”) was incorporated in 2011 and was a provider of IT support services to a range of industries predominantly in the smaller company market The Company operated from serviced offices in London and employed c 10 people either directly or on a subcontractor basis
In terms of key personnel, Phil McLeod was the Company's sole Director and 100% shareholder. The Director has a second unrelated company named Rabbit & Pork Limited (“R&P”) which was ultimately used to purchase the business and assets of Trilogy IT Limited (see below)
The Company was both cash flow and balance sheet insolvent Management accounts for the 8 months to 30 November showed the Company made a loss of £310k on turnover of £715k The balance sheet showed net liabilities of £234k including net current liabilities of £175k
Administrators' statement of proposals (2015-01-27) · Companies House register