Cloud Realisations Limited (07991616): administration
- Status
- Administration ended
- Administration began
- 2015-11-06
- Administrators
- Gareth Wyn Roberts, Robert Christopher Keyes
- Administrators' firm
- KRE Corporate Recovery
- Formerly
- Cloud Symphony Limited
- Incorporated
- 2012-03-15
- Location
- Reading
- Industry
- 62020 Information technology consultancy activities
Why it went into administration
- Loss-making contracts / project overruns
- Sustained trading losses
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Parent or group failure
From the administrators' statement
The Company was incorporated in March 2012 and provides assistance in Client Relation Management (“CRM”) for a number of customers within the charity industry Essentially the company uses the “salesforce” platform with “add-ons” to control and enhance the way that its customers interact with their internal client base
The Company traded from premises located in Maidenhead and its customers are predominantly based in the South of England The company had 17 employees, with a small management team headed up by Richard Ferriman who is the founder and chief executive of the company
It is not uncommon, as can be seen below, for start-up companies to return losses in the early years of trading while the business !s being established, and this company was no exception The ability to absorb the losses in the early years came about by external funding from Royal Bank of Scotland and The FSE Group
Administrators' statement of proposals (2015-11-19) · Companies House register