Avid CM Limited (SC333455): administration
- Status
- Administration ended
- Administration began
- 2016-01-13
- Administrators
- Scott Milne, Ian William Wright
- Administrators' firm
- Wri Associates
- Formerly
- Donnell and Avid Limited; Avid CM Limited
- Incorporated
- 2007-11-06
- Location
- Glasgow
- Industry
- 41100 Development of building projects
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated in November 2007 as Avid CM Limited, changing its name to Donnell and Avid Limited in August 2010 and reverting to Avid CM Limited in August 2012.
The Company was primarily engaged in property development and construction. No securities had been granted by the Company.
Accounts lodged indicate that the Company made a significant loss in 2010 of approximately £400,000 which it carried forwards from that date. Ongoing trade remained viable due to the introduction of working capital by way of loans from its then directors in a similar amount, with the company working to return to profitability to permit repayment of those loans
Administrators' statement of proposals (2016-03-07) · Companies House register