At Frost Group our licensed insolvency practitioners have a great deal of experience and expertise in helping businesses that are facing insolvency.
We aim to make problems more manageable and our responsibility is to find you the best possible outcome, be it:
In addition to the quality of our advice, you will find us honest, transparent and straightforward in our approach. To find out more, please call us on 0845 260 0101 or 07714 099691 (out of hours).
We provide a nationwide service from our offices in Croydon, London and Bournemouth.
Is your company insolvent?
It is very easy to determine whether your company is insolvent. The Insolvency Act lays down a few simple tests, two of which stand out:
- Balance sheet test – are your assets less than your liabilities? Yes, you are insolvent; No, you are probably not insolvent
- Cashflow test – can you pay your debts as they fall due? Yes, you are not cashflow insolvent; No, you are probably trading insolvently and might have a problem
If your company is insolvent or you think it might be, do not panic, it may only be a temporary problem and you may trade out of it, however you MUST seek further advice otherwise if it goes under at a much later date, you could find yourself answering some tricky questions and possibly being asked to contribute towards the deficiency to creditors.