Philip T Jones & Partners Ltd (07958448): administration
- Status
- Administration ended
- Administration began
- 2022-05-26
- Administrators' firm
- Begbies Traynor
- Formerly
- Formby Payroll Centre Ltd
- Incorporated
- 2012-02-21
- Location
- Manchester
- Industry
- 69201 Accounting and auditing activities
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
Full details surrounding the lead up to the administration are contained in the Evaluators Report at Appendix 5, An extract as appropriate is below:
The Company specialises in accountancy and tax consultancy and is led by a team of experienced advisors. The Company was incorporated in 2012, but operated as a partnership for over 20 years prior to incorporation. It operates from leased premises in Southport.
Trading has been significantly adversely affected in recent times and turnover has reduced by 30% from c£500,000 in the year to March 2021, to c£350,000 in the most recent year to March 2022. Profitability reduced in the same period by c70% and the Company has taken on additional liabilities to deal with the financial issues arising.
Administrators' statement of proposals (2022-06-10) · Companies House register