# Charismatic Properties Limited (04232267)

> Why UK company 04232267 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04232267

- **Status:** Administration ended
- **Administration began:** 2013-01-25
- **Administrators:** Gordon Craig
- **Administrators' firm:** Refresh Recovery
- **Incorporated:** 2001-06-11
- **Location:** Skelmersdale
- **Industry:** 4545

## Why it went into administration

- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Property / lease costs
- Rising interest rates

## From the administrators' statement

The company was incorporated on 11 June 2001 and was established to be a Property Development Company based in Sefton, Liverpool The Company has two Directors, Dominic McDermott and Philip Chesters, who are also the equal shareholders in the Company

In 2002 the Company undertook a redevelopment of a Chapel with a view to turning it into a five Bedroom property which was completed in 2004 creating a profit of £80,000

Towards the late of 2004, and following the success of this first project, the Directors approached National Westminster Bank plc (“Nat West”) for a loan to purchase a property at 111 Chester Road, Helsby, Cheshire The Bank agreed to advance the Company £255,000 which, in conjunction with the profit from the first development, was used to purchase the Property and fund the redevelopment

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04232267/filing-history/MzA5NzQxMzM5OWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04232267

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.