Citygreen Limited (06632585): administration
- Status
- Administration ended
- Administration began
- 2014-02-06
- Administrators' firm
- FRP Advisory
- Incorporated
- 2008-06-27
- Location
- London
- Industry
- 43999 Other specialised construction activities n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 27 June 2008 in the name of Citygreen Limited It's main business function was the design and construction of office interiors The directors from the commencement of trade were Mr Paul Hammond and Ms Jennifer Lancaster, additional directors joined the board during the Company's life span and the relevant appointment dates can be seen in Appendix 1
It initially only traded from it’s London office mainly delivenng London based projects The competition within the London market was tough with several! other competitors pitching for the same projects and therefore when the directors saw a gap in the market in Cambridge where there was less competition, they took the opportunity to service that region As a result of this geographical expansion the Cambridge office was born, but the main accounting / control function remained in London
From reviewing the Company's financial statements it would appear that the Company posted a profit of £92,817 for the year ending 30 June 2009 For the year ending 30 June 2010 the Company made a marginal loss of £22,020 based on a turnover of £2,665,947
Administrators' statement of proposals (2014-03-20) · Companies House register