Ascot Lawyers Ltd (08237614): administration
- Status
- Administration ended
- Administration began
- 2018-06-29
- Administrators
- Andrew Poxon, Mike Dillon
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2012-10-02
- Location
- Manchester
- Industry
- 69102 Solicitors
Why it went into administration
- Cash flow / liquidity pressure
- Management failings / irregularities
- Regulatory change or action
From the administrators' statement
3.1 The Company was incorporated on 02 October 2012 however the Company remained dormant until 1 August 2015. Initially the business traded as a Partnership with Neil Somerville being joint partner. The business began to trade as a limited entity on 1 August 2015.
3.2 The Company latterly traded from leasehold premises at Acentia House, Lyndhurst Road, South Ascot. The principal trading activity of the Company was solicitors a practice. The Company is authorised by the Solicitors Regulatory Authority (“SRA”) under authorisation number 622771. The Company employed 22 staff.
3.3 The Company was funded by way of a disbursements funding facility from Novitas, who hold security by way of a debenture, incorporating fixed and floating charges created on 28 July 2018. A sum of £354,000 remains outstanding to Novitas.
Administrators' statement of proposals (2018-09-05) · Companies House register