# Engrave IT Online Limited (10477293)

> Why UK company 10477293 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/10477293

- **Status:** Administration ended
- **Administration began:** 2023-04-25
- **Administrators' firm:** Leonard Curtis
- **Incorporated:** 2016-11-14
- **Location:** Bristol
- **Industry:** 47190 Other retail sale in non-specialised stores

## Why it went into administration

- COVID-19
- Weak consumer demand
- Creditor pressure / legal action
- Parent or group failure

## From the administrators' statement

The Company was incorporated on 14 November 2016. One of the directors, Nicholas Watts, had previously traded the business as a sole trader. Mr Watts had a number of years’ experience working for Timpson as an engraver.

The directors initially traded from home and provided bespoke engraving services on online platforms such as eBay and Amazon. The directors originally financed the business through a re-mortgage of their residential property and at commencement of trading the business was grown organically with no extemal borrowings,

Early trading was broadly successful with tumover increasing by 30% year on year in the early years of trade. Approximately four years ago, the business was scaled up with additional staff members taken on to assist with the additional workload and the Company moving to its current trading premises in Filwood Business park, Bristol. The Company's statutory accounts show that the Company made net profit of £91,048 and £123,429 respectively for the years ended 30 November 2019 and 30 November 2020 on turnover of just over £1 million for these years.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/10477293/filing-history/MzM4MjE4MDQ4M2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/10477293

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