Charter Homes (South West) Limited (04446325): administration
- Status
- Administration ended
- Administration began
- 2012-05-15
- Administrators
- Jeremiah Anthony O'Sullivan
- Administrators' firm
- Aua Insolvency Risk Services
- Formerly
- Barncrest No. 149 Limited
- Incorporated
- 2002-05-23
- Location
- Exeter
- Industry
- 7011
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
From the administrators' statement
21 The Company was formed as a property development company in 2002 in the name of Barncrest No 149 Limited The name of the Company was changed to Charter Homes (South West) Limited on 19 June 2002
22 The Company traded steadily up until 2008, developing a number of sites For the year to 31 December 2009 however the Company reported a loss of £296,542 Trading continued to develop and sell off remaining properties on three sites owned by the Company at that time with the continued support of the Directors and National Westminster Bank ple/The Royal Bank of Scotland Group ["the Bank”]
23 Subsequently, the Company encountered difficulties in maintaining the sales values of individual units due to the impact of Social Housing requirements and matters were further exacerbated by prolonged/delayed sales processes resultant from the continuing downturn in the domestic housing market
Administrators' statement of proposals (2012-07-10) · Companies House register