Preston Farm Management Limited (05990918): administration
- Status
- Administration ended
- Administration began
- 2022-04-05
- Administrators' firm
- FRP Advisory
- Incorporated
- 2006-11-07
- Location
- Newcastle upon Tyne
- Industry
- 41100 Development of building projects
Why it went into administration
- Bad debts / customer insolvency
- Creditor pressure / legal action
From the administrators' statement
The business was incorporated on 7 November 2006 and commenced trading as a Management Company on a small industrial estate, with 10 tenanted buildings. The registered office and trading address was C/O Kia Stockton Preston Farm, Concorde Way, Stockton On Tees, TS18 3SD. There is a single supply of electricity to the site which is charged to the tenants via the management Company. In addition to the electricity supply tenants are also charged for gas, water and other maintenance services. The Company instructed SW to manage meter readings, billings and tenants on the Company's behalf.
The Company has 10 shareholders who are mainly the tenants and has issued 1001 £0.01 ordinary shares. The share capital remains outstanding.
The company had no employees, other than the director, who is not a shareholder. The Company has never been profit making, turnover simply covers the expenses of the management Company, as all expenses are charged to the tenants as per the
Administrators' statement of proposals (2022-05-24) · Companies House register