Lightsky Group Limited (05703596): administration
- Status
- In administration
- Administration began
- 2025-05-19
- Administrators
- Paul Steven Cooper, Paul Robert Appleton
- Administrators' firm
- Begbies Traynor
- Formerly
- Bradbury House Limited
- Incorporated
- 2006-02-09
- Location
- London
- Industry
- 87200 Residential care activities for learning difficulties, mental health and substance abuse
Why it went into administration
- HMRC / tax arrears
- Management failings / irregularities
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 9 February 2006 as Bradbury House Limited to operate residential care homes and day centres in the Home Counties and Bedfordshire regions. The Company also traded a single care home in Ireland. The Company primarily focused on caring for those with mental health issues and severe learning difficulties. It has since grown to operate 25 sites across 20 properties, employing circa 170 members of staff, to provide day care to full board, as required by the needs of the individual.
The original shareholder of the Company was Bradbury (Holdings) Limited (“BHL”) up until October 2023 when the Secured Lender, JPS Holdings Limited (“JPS”), issued demand notices to both the Company and BHL, alongside an ‘Appropriation Notice’. Following the appropriation of the shares, the Company became a wholly owned subsidiary of JPS and subsequent changes were made at Board level. In March 2024, the JPS debt and security was assigned to its subsidiary entity, Volume Five Limited (“VFL”).
The decision to place the Company into Administration was not taken lightly by the current Board of Directors. It followed the discovery of the misappropriation of significant amounts by the former majority owners of the Company, who were also Directors. The Board engaged the forensic accounting division of a large internationally recognised accounting firm to undertake an analysis of the Company’s financial position. Following an extensive investigation, the accounting firm confirmed that in excess of £3 million had been misappropriated by the former majority owners.
Administrators' statement of proposals (2025-08-04) · Companies House register