True Altitude Ltd (11214968): administration
- Status
- Administration ended
- Administration began
- 2023-08-04
- Administrators
- Louise Longley, Julian Pitts
- Administrators' firm
- Begbies Traynor
- Formerly
- Okran Commerce Limited
- Incorporated
- 2018-02-20
- Location
- Leeds
- Industry
- 46510 Wholesale of computers, computer peripheral equipment and software
Why it went into administration
- COVID-19
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 20 February 2018 with the name Okran Commerce Limited and subsequently changed its name on 11 March 2019 to True Altitude Limited and began trading in February 2019.
The Company was established with the goal of providing expert financial advice to small and medium-sized businesses in areas of fundraising and advisory on corporate development. The original business was focused on servicing B2B tech companies in the ecommerce, fintech and SaaS sectors. Although the services provided have been broadened, this has always remained the core of the business.
In the Company’s second year of operation, the Covid-19 pandemic hit, and this had an immediate impact on the business given the nature of its work. However, during this period it did manage to secure several large companies as clients, on a success fee basis, and was able to expand the team to around 7 staff through to the end of 2021. Turnover as a business was accounted for at £310,312 in FY2021.
Administrators' statement of proposals (2023-10-07) · Companies House register