Charlescare (Northern) Limited (04568797): administration
- Status
- Administration ended
- Administration began
- 2016-02-16
- Administrators
- Diana Frangou, Dilip K Dattani
- Administrators' firm
- RSM
- Incorporated
- 2002-10-21
- Location
- Birmingham
- Industry
- 86900 Other human health activities
Why it went into administration
- Regulatory change or action
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
The Company was incorporated in October 2002 and operated a residential care home, Pilling Care Home (“the Home’), situated at Smallwood Hey Road, Pilling, PR3 6HJ The Home provided nursing care for the elderly and individuals with dementia, and also personal care for people with learning disabilties
The Company has been operated by tts sole director Mr lan Taylor since its purchase in 2006 The Home ts owned on a freehold basis and charged to the Royal Bank of Scotland Plc (“RBS”) RBS also hold a floating charge over the Company With the exception of losses due to capital investment, the Company was profitable until 2010, with a steady annual increase in margins
The Company experienced tts first accounting loss in the financial year ending 31 October 2011, and since remained loss making and unable to effect a turnaround Profitability suffered due to the difficult economic conditions, in particular due to cuts in public spending impacting on loca! authority funding for residents in care homes, and increases in minimum and living wages
Administrators' statement of proposals (2016-04-15) · Companies House register