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Haulage Company enters Administration & saves 29 jobs

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The Problem Presented A haulage company who were experiencing a £500,000 loss over the past 2 years approached FA Simms & Partners for help. There were two Companies owned by common Directors and Shareholders and they explained that the main reason behind the deficiencies came from a loss making contract within the smaller of the […]

Posted in Case Studies |

Company Voluntary Arrangement Case Study

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The Problem Presented We received an initial enquiry from a trade supplier who was being threatened with a winding-up order from HM Revenue & Custom (HMRC). Due to the economic down turn the company was experiencing a reduction in turnover and profit which meant they had fallen into arrears with their trade suppliers to whom […]

Posted in Case Studies |

Quarter 1 2015 Insolvency Statistics Review

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  Quarter 1 2015 Insolvency statistics review The latest Insolvency Statistics released highlights that the liquidation rate was at its lowest level since Q4 1984; the earliest period it is possible to calculate the rate. The latest figures show that only 0.5% of active companies in England & Wales entered into some type of liquidation […]

Posted in Infographics |

Small Business, Enterprise & Employment Act 2015

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The Small Business, Enterprise & Employment Act 2015 has been given Royal Assent in Parliament this quarter which means there have been a number of changes that need to be acknowledged and understood going forward.   Director Disqualification A new approach to the reporting of director misconduct by liquidators is being introduced which includes adding […]

Posted in Latest News |

Members’ Voluntary Liquidation Explained

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Since 1 March 2012 the attention given to the Members’ Voluntary Liquidation (MVL) process has increased, as has the number of Companies utilising the benefits of the process. We, however, believe that the process is still a bit of a grey area for many directors as they are not fully aware of the process. We […]

Posted in Latest News |

Prime Minister announces ‘Help to Grow’ scheme for Businesses

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The Prime Minister has announced that the British Business Bank will be introducing a new programme called Help to Grow. Its aim is to allow fast-growing companies realise their potential. The British Business Bank will start a £100m pilot scheme to develop the concept.   David Cameron has said the initiative will help fast-growing firms […]

Posted in Latest News |

Company Cash Flow

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Understanding your Business’s cash flow can greatly improve your business.   If you run out of cash you will be unable to make payments to suppliers, employees and H M Revenue & Customs and they may take action against the Company as a consequence.   No business can survive without enough cash to meet its […]

Posted in Latest News |

Pressure from Creditors

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If you are unable to pay your debts as and when they fall due, your Company is no longer solvent and if your suppliers and HMRC are suffering as a result of this they may seek to take legal action or apply for a winding up order against the Company.   It can be an […]

Posted in Latest News |

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