The company traded from a kiosk booth in a shopping centre in London.

With the experience and skills to both design and create jewellery, the Director provided a unique range of creative products. It could be said that this company was more of a hobby and interest for the director, rather than a means to earn a meaningful living.

The director took a minimum wage and the sales staff, were remunerated at a basic rate with a commission structure in place.

The directors provided the accountant with all of the Company records to ensure that the finances and any liabilities to HM Revenue & Customs were managed well. Despite this, the Company fell into arrears and struggled to make payments in respect of PAYE.

The directors spent significant amounts of time and expense on continually liaising with the accountant in an effort to gain control over the Company finances.

Despite the small scale of debts owing to creditors, the company did not prove to be tenable moving forward and the advice given to the company by AABRS was to place it into liquidation.

Should you have any further queries in relation to this case study, please contact Alan Simon on 0208 444 3400 or email