Horton Establishments Ltd (04074346): administration
- Status
- Administration ended
- Administration began
- 2021-12-17
- Administrators
- John William Butler, Andrew James Nichols
- Administrators' firm
- Metis Partners and Gilbert Baitson
- Incorporated
- 2000-09-19
- Location
- Hull
- Industry
- 85590 Other education n.e.c.
Why it went into administration
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
In years gone by, the Company had traded profitably as evidenced by the net assets of the Company as at 31 August 2020 of £1.231 million, although as at that date, some £678k of those net assets had been loaned to one of the directors by way of an overdrawn director's
loan account. b
In 2021, it is understood that the Company received a not particularly good Ofsted report, which resulted in a reduction of students and hence income. As at 17 December 2021, the number of students taught by the Company had reduced to 17 and the number of adults being provided with adult care by the Company had reduced to 2.
Administrators' statement of proposals (2022-02-21) · Companies House register