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UK based management consultant LLP

An associate of the consultancy LLP contacted KSA regional manager, Amanda Eckersley, to discuss the company’s present financial situation.  A meeting was requested and held at the LLP’s premises.
KSA were appointed to assist the company with a Company Voluntary Arrangement (CVA). Turnover for the 2015 trading year had been c£270K.

The company was encountering financial difficulties due to:

  • A large litigation action which was settled.
  • Inefficient daily operations, falling behind on HMRC submissions
  • Failed investment offer
  • Severe cashflow issues. .


  • The LLP occupies a leased town centre office


  • The LLP employs 2 staff excluding the designated members. It was unnecessary to make any redundancies; however, redundancies may be made in conjunction with a CVA.

Bank & Financial facilities

  • The bank provides a small overdraft facility
  • The bank is unsecured i.e. there is no registered legal charge against the llp.
  • There are no finance/lease agreements

Designated Members

  • The designated members had provided personal guarantees in respect of  a loan facility
    Unsecured Creditor debt:
  •  £150K of which HMRC was 67%

Cost & overhead reduction

  • Prior to KSA’s appointment, payroll was reduced to the bare minimum.
  • All overheads have been reviewed and, where possible, reduced to necessity level.  All cost streams are constantly monitored.

New activity

  • New SEO and digital marketing strategy

The nominee’s review was held and the CVA and nominee’s report were subsequently lodged at court. The CVA proposed 59p in £1 repayment to unsecured creditors over 5 years. HMRC provided their response accepting the CVA.

The CVA was accepted by the body of creditors at the creditors meeting and the LLP is in CVA.

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