FA Simms & Partners – Milton Keynes Office
Insolvency Practitioners & Business Rescue
For businesses in and around Milton Keynes, knowing there is an Insolvency Practitioner you can trust is important. Whether you are struggling with insolvency or not, knowing that there is someone you can seek independent and impartial advice from is always reassuring.
F A Simms & Partners is a firm of Business Rescue Professionals and Insolvency Practitioners. We have been helping SMEs in and around Milton Keynes for over 36 years, and feel that we provide a support network for businesses in this area.
What is insolvency?
Insolvency can be seen within a business across two main tests:
- The balance sheet test – this is where your liabilities outweigh your assets which can be seen on a company’s balance sheet
- The cash flow test – this is where a company is continuously struggling to pay their creditors as and when payments fall due, due to a lack of funds available within the company
Our liquidation services
For company liquidation processes there are 2 processes available:
- Creditors Voluntary Liquidation (CVL)
- Compulsory Liquidation
A CVL is the most commonly used company liquidation process within England & Wales. This process can also be used as a business rescue process as it gives the directors the opportunity to buy back the goodwill and assets of the business in order to go forward with a new company.
Our business rescue services
Business rescue is a fundamental aspect of an Insolvency Practitioner’s job. Business rescue is the first port of call when dealing with insolvency, and liquidation should be used as a last resort.
There are 2 processes available:
- Company Voluntary Arrangement (CVA)
- Company Administration
Free Impartial Advice
F A Simms & Partners provide free impartial advice whether it is over the phone or in a face-to-face meeting at the local Milton Keynes office. We will provide you with solutions to your problems that are tailored to your specific situation.