A company that signed up businesses to advertisements which were to appear on a website dedicated to the theme of crime awareness has been wound up in the High Court following an investigation by the Companies Investigation Branch (CIB) of the Insolvency Service.

CIB's investigation found that Wirral based Adsearch (UK) Ltd issued invoices and demands for payment in connection with advertisements that it had purportedly sold to other small business across the country. However, despite the fact that the company had been trading for more than nine months by the time the investigation commenced, no website had been created and no evidence of development could be produced to the Investigator. Nevertheless, the Investigator was able to show that the company's bank account had received more than £22,000 and that it had failed to maintain or preserve any records to show where these funds had emanated or to whom they had been paid out. Additionally, CIB's investigation also established that the sole director of the company had made no attempt to monitor or control representations made to advertisers, had only attended its business premises intermittently and for short periods, had failed to take adequate steps to safeguard the company's accounting records and had, therefore, failed to exercise proper stewardship of its affairs. Furthermore, the company was found to be insolvent and unable to finance the ongoing development and maintenance of the website.


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