Discovery Tech Group Ltd (11813863): administration
- Status
- Administration ended
- Administration began
- 2019-11-13
- Administrators
- Daniel Allen
- Administrators' firm
- Insolvency
- Incorporated
- 2019-02-07
- Location
- Rochester
- Industry
- 62012 Business and domestic software development
Why it went into administration
- Management failings / irregularities
From the administrators' statement
The Company was incorporated on 7 February 2019 and commenced trading on 1 October 2019. The Company’s sole director was Jonathan Erwin, who held 50% of the issued share capital along with Jack Beazley, an employee of the Company (see Schedule | - Statutory Information for details}.
The Company commenced trading on 1 October 2019 when it acquired the business and assets of Content Discovered Limited from its Administrators. Content Discovered Limited is associated as Mr Erwin and Mr Beazley were directors of that Company.
The business and assets were acquired from the Administrators on terms set out in a sale and purchase agreement dated 1 October 2019. The consideration payable was £200,000, of which £50,000 was paid on completion with the balance payable on deferred terms over 11 months.
Administrators' statement of proposals (2019-12-23) · Companies House register