Great Houghton School Limited (07185463): administration
- Status
- Administration ended
- Administration began
- 2014-07-25
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2010-03-10
- Location
- Duxford
- Industry
- 85200 Primary education
Why it went into administration
- Property / lease costs
From the administrators' statement
Great Houghton School Limited (“GHS’) was formed in June 2010 by the sentor management team and two extemal investors to acquire the assets of the school from the Girls Day Schoo) Trust GHS continued to operate as an independent fee paying prep school and a nursery (ages 1-13) for around 300 children The business was operated from freehold premises in Great Houghton, Northamptonshire As pupils were leaving in Year 9 to go to other schools in the area to complete their GCSE's it was considered there was an opportunity to increase pupil numbers at marginal cost retention rates by expanding the educational offer to include GCSE courses Accordingly a new year 10 and year 11 were introduced
Funding for the initial venture comprised £750,000 deferred vendor loans and £450,000 of investment by the management and external investors via secured and unsecured loans No external third party debt was available given the business climate in summer 2010 The freehold assets of the company had been independently valued pnor to the purchase at £2 Om
The business was projected to break even in the first year of operation, however, this proved not to be the case
Administrators' statement of proposals (2014-09-19) · Companies House register