SSR Developments Limited (05406151): administration
- Status
- Administration ended
- Administration began
- 2011-12-13
- Incorporated
- 2005-03-29
- Location
- Norwich
- Industry
- 4521
Why it went into administration
- Rising costs / inflation
- Funding withdrawn / unable to refinance
From the administrators' statement
SSR Developments Limited (“the Company’) was incorporated on 29 March 2005, with the principle objective of building houses on a project based at Ringland, Norwich (“Ringland Project’) The Company's trading premises was located at The Stables, Ringland, Norwich,
The Ringland Project involved the building of 5 houses at a fixed price of £375,000 It was onginally calculated that the cost of the build would be in the reigion of £200,000 meaning a profit of around £150,000 after taking into account the potential overrun of building expenses of £25,000 It was expected that this work would run for 5 months, and commenced shortly after the date of incorporation
The intention was that the directors would undertake the majority of the build Between them, the directors had specialised skills in the areas of carpentry, roofing, scaffolding and accounts, along with years of experience in the general construction trade
Administrators' statement of proposals (2012-02-06) · Companies House register