# The Advertising Club Ltd (08912299)

> Why UK company 08912299 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/08912299

- **Status:** Administration ended
- **Administration began:** 2016-10-07
- **Administrators:** Guy Robert Thomas Hollander, Timothy Colin Hamilton Ball
- **Administrators' firm:** Mazars
- **Formerly:** London Advertising Club Limited
- **Incorporated:** 2014-02-26
- **Location:** Bristol
- **Industry:** 73110 Advertising agencies

## Why it went into administration

- Cash flow / liquidity pressure
- Management failings / irregularities
- Parent or group failure

## From the administrators' statement

The business was established in September 2014 by Ryan Symes and a former director, Tom Gall The Company specialised in providing online advertising services to clients such as search engine optimisation services In the two years prior to ceasing to trade, the Company had established two offices, in Bristol and London, employed 1n excess of 30 members of staff and was turning over approximately £6,000,000 per annum

During August 2016, RBS contacted the Company and expressed concerns surrounding three payments that had been made out of the Company’s Bank account totalling approximately £230,000 These transactions allegedly occurred on one single day Investigations were made and it 1s alleged that the monies had been misappropriated

Tn addition to these payments, the Company had not been submitting payments to HM Revenue & Customs in respect of employee deductions for PAYE/NIC and VAT It is alleged that payments purporting to be to HM Revenue & Customs were in fact diverted elsewhere for a number of months prior to the Company ceasing to trade Ryan Symes, and other members of staff, were apparently only made aware of this problem when, in August 2016, HM Revenue & Customs threatened to wind up the Company 1n respect of approximately £830,000 due in payment arrears

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/08912299/filing-history/MzE2NDYwMjcxNGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/08912299

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.