Capricorn Cottage Limited (04230996): administration
- Status
- Administration ended
- Administration began
- 2011-09-29
- Administrators
- Jane Bronwen Moriarty, Neil David Gostelow
- Administrators' firm
- KPMG
- Incorporated
- 2001-06-08
- Location
- Reading
- Industry
- 8514
Why it went into administration
- HMRC / tax arrears
From the administrators' statement
The Company operates one care home which 1s located at 88 Eastgate, Fleet, Holbeach, Spalding, PE12 8ND and has a total of 34 registered beds As well as the purpose built residential home, the site also includes a day centre, four bedroom semi-detached cottage and a four bedroom detached house, all of which are owned on a freehold basis
KPMG was first approached and engaged by Santander in April 2011 to conduct an IBR of the Company in order to assess the Company’s financial position and the options available to the Company.
However, HMRC issued a petition to wind up Stargate (which was due to be heard on 10 October 2011) Stargate owns 2% of the Company and has a common director The majority of the Bank’s lending to the group is to Stargate and consequently, the Bank became concerned about their position Following a review, the Bank decided to cease its relationship with both the Company and Stargate As a result, the Director felt he had no option other than to appoint Administrators over the Company
Administrators' statement of proposals (2011-11-24) · Companies House register