Uttoxeter Properties Limited (02715989): administration
- Status
- Administration ended
- Administration began
- 2021-02-26
- Administrators' firm
- DL Partnership (uk)
- Incorporated
- 1992-05-19
- Location
- Halifax
- Industry
- 41100 Development of building projects
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
From the administrators' statement
Following the passing of Mr Charles, Mr Ashby has advised that he sought to reach a consensus on the winding up of the Company’s affairs with representatives of the Estate whether via a disposal of shares or assets. However, on 6 February 2021 the Company received what appeared to be a demand for the immediate repayment of the loan due to the Estate. After accounting for repayments made to date, the Company’s records scheduled a current balance outstanding of £98,889 in respect of this liability.
Draft accounts for the Company’s year ended 30 September 2020 also detailed a balance outstanding of £68,185 to Mr Ashby personally. These accounts further noted a write down in the value of the Company’s freehold property to £100,000 due to the impact of the COVID-19 restrictions on retail and commercial property. As a consequence, the value of the Company’s liabilities exceeded its assets by the sum of £38,874 as at 30 September 2020. 3.11
3.12
Administrators' statement of proposals (2021-04-28) · Companies House register