High Tech Design & Build Ltd (03573568): administration
- Status
- Administration ended
- Administration began
- 2013-05-09
- Administrators
- Alisdair James Findlay
- Administrators' firm
- J Findlay of Findlay James (Insolvency Practitioners)
- Formerly
- High Tech Fabric Maintenance Limited; High-Tech Period Property Refurbishment Specialistslimited; High-Tech Property Developments Limited
- Incorporated
- 1998-05-27
- Location
- Cheltenham
- Industry
- 43390 Other building completion and finishing
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 27 May 1998 under registration number 03573568 and was controlled and ran the Director(s)
The Company primarily sourced plots of land which had a likelihood of obtaining planning permission, with a view to building commercial and residential properties on the land plots The Company traded successfully up until 2011, evidenced by the Company's financial statements for the period ending 31 May 2011 which shows the Company having made a profit of £60,117 00 for the period
Due to the economic downturn, the Company experienced a drop in turnover in 2012 as newly build properties were becoming increasingly difficult to sell It is well documented that financial institutions were reducing levels of funding to enable parties to purchase properties. This ultimately caused cashflow problems for the Company
Administrators' statement of proposals (2013-07-04) · Companies House register