Sporthouse 2012 Limited (07141468): administration
- Status
- Administration ended
- Administration began
- 2013-06-21
- Formerly
- Ebbsfleet Community Sports Centre Limited; Ebbsfleet Sports Centre Limited
- Incorporated
- 2010-02-01
- Location
- Kent
- Industry
- 93110 Operation of sports facilities
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Bad debts / customer insolvency
From the administrators' statement
We are advised that the Company was incorporated on 1 February 2010 as Ebbsfleet Sports Centre Limited (CRN 07141468) as the vehicle for the construction and running of a sports complex to be used as an official training venue for athletes for the 2012 Olympic Games and the 2012 Paralympic Games At this time Michael John Stimson was the sole director and shareholder of the Company. Funding was sourced from a mixture of commercial bank lending and grants from the Olympic Development Agency to develop the site at Mayesbrook Park, and the site opened on schedule in readiness for the events The Company changed its name to Ebbsfleet Community Sports Centre Limited on 5 July 2010
After the Olympic Games finished, it is understood that the Company experienced financial difficulttes converting the site to a viable privately operated members’ sport club As part of the lease agreement for the site, there were a number of requirements for investment to alter the site to improve it for the local community We are advised that difficulty was experienced in raising the necessary funding to complete these works, and the Company's own working capital became exhausted before the membership levels could be built up to make the site self-sustaining
The directors sought alternative sources of investment, and on 4 October 2012, a sale of the shares for the Company was completed to the current shareholder and director, Paut Harns As part of the acquisition process a separate company, Sporthouse 2012 Limited (CRN 08223893), was incorporated on 21 September 2012 and it was envisaged that the original company, Ebbsfieet Community Sports Centre Limited, would become a holding company for the lease and equipment, and the new company, Sporthouse 2012 Limited, would become the trading vehicle However, there was no clear demarcation between the two companies and they were effectively treated as one for accounting purposes This was further complicated by the decision for both companies to “swap” names on 13 March 2013, with Ebbsfleet Community Sports Centre Limited (CRN 07141468) becoming Sporthouse 2012 Limited, and Sporthouse 2012 Limited (CRN 08223893) becoming Ebbsfleet Community Sport Centre Limited Please note the subtle change of spelling of the name for CRN 08223893
Administrators' statement of proposals (2013-08-20) · Companies House register