Noble Tree Foundation Limited (04965235): administration
- Status
- Administration ended
- Administration began
- 2024-06-03
- Administrators' firm
- FRP Advisory
- Formerly
- Love China International; The BTJ Foundation, UK
- Incorporated
- 2003-11-17
- Location
- London
- Industry
- 63990 Other information service activities n.e.c.
Why it went into administration
- Property / lease costs
- Creditor pressure / legal action
- Rising costs / inflation
- Bad debts / customer insolvency
- Over-expansion / investment not recovered
From the administrators' statement
The Company was incorporated as a company limited by guarantee on 17 November 2003 as ‘The BTJ Foundation UK’ and was subsequently registered as a charity on 4 May 2004. Initially formed to provide support to the Chinese House Church Network, on 24 March 2016 the Company changed its name to Noble Tree Foundation to reflect its new primary activity to support vulnerable people in the UK in the provision of housing and social care. The Company core group of vulnerable tenants consist of: Survivors of Domestic Violence, ExService Personnel, Refugees, and Mother & Baby Support.
The Company has built a portfolio of around 470 units providing circa 850 bedrooms across the UK. The properties are let on a 20+5-year, full repairing and insuring (“FRI”) basis at rents in accordance with Local Housing Allowance, which has historically seen to create stable, low bad debt, and low tenant turnover income.
2.3.
Administrators' statement of proposals (2024-07-24) · Companies House register