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Reflex Event Management in liquidation with £200k debts

Reflex Event Management Ltd has gone into liquidation with debts of more than £200,000, according to the liquidator’s statement of affairs filed at Companies House.

The company was wound up voluntarily and Quantuma LLP of Brighton appointed as liquidator. Liquidators are still undertaking their investigations and were unable to give any reasons for the liquidation.

The Brighton-based event management company was set up by Peter Thomas in 1989. It had a staff of three, with two employees in addition to director Thomas.

In the summary of liabilities, preferential creditors include the National Westminster Bank, with whom the company had an £89k debt secured by floating charges.

Debts to non-preferential creditors include £1k to HMRC, £68k to Thomas, £26k to the firm’s two employees and £11k to trade creditors.

The next stage is that the liquidators will review what the assets of the company are. The liquidator said that the value of the assets was relatively insignificant, but that anything realised from the assets of the company will be redistributed to creditors.

The liquidator said that there might be some recoveries in respect of Reflex’s tax arrangement with HMRC in regard to the Tour Operators Margin Scheme (TOMS).