Trent Build Limited (04851871): administration
- Status
- Administration ended
- Administration began
- 2016-03-14
- Administrators' firm
- RSM
- Formerly
- Trent Valley Construction Limited
- Incorporated
- 2003-07-31
- Location
- Leeds
- Industry
- 41201 Construction of commercial buildings
Why it went into administration
- Loss-making contracts / project overruns
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated on 31 July 2003 as Trent Valley Construction Limited and changed its name to Trent Build Limited on 31 July 2013 The Company has traded as a main building and civil engineering contractor, operating across the East Midlands At the date of Administration the Company had 12 employees Operations have been based at leasehold premises at Trent House, Boundary Enterprise Park, Boundary Lane, South Hykenham, Lincoln LN6 9NQ Simon Beatham took over principal responsibility for the management of the Company in 2011. The Company is owned by Sturton Securities Limited
The Company has historically traded profitably and built up a strong financial position with net assets of the Company as at 31 December 2014 amounting to £791,000 The company continued to grow following a restructuring in 2042, with turnover reaching circa £9m in 2015
However, one contract, Cranmer Street, a £2m apartment building in Nottingham, which was due for completion in the summer of 2015, incurred ongoing delays and expense resulting in an anticipated loss All parties were working to achieving practical completion for the building works and the release of a £200,000 cash bond by year end This was not achieved and further delays were incurred In early 2016, the loss on the project was estimated at c£475k and projected to increase to £600k Concurrent with this, potential losses of a further £300k were identified on another project where disputes had been raised which were the subject of ongoing negotiations with the employer
Administrators' statement of proposals (2016-05-16) · Companies House register