Beaumont Morgan Developments Limited (07619223): administration
- Status
- Administration ended
- Administration began
- 2022-01-13
- Administrators
- Asher Miller, Stephen Mark Katz
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2011-05-03
- Location
- London
- Industry
- 41202 Construction of domestic buildings
Why it went into administration
- COVID-19
- Creditor pressure / legal action
- Sustained trading losses
- Supply chain disruption
- Rising costs / inflation
- Brexit
From the administrators' statement
The Company was incorporated in May 2011 by Reginald Beaumont and Gareth Morgan to act as a design and build main contractor for large construction projects in the north of England. The Company's business model saw that projects were typically tendered on 5% gross margins on a fixed price lump sum basis.
In July 2014 Gareth Morgan took 100% control of the Company, and subsequently in January 2015 completed a share for share exchange whereby the ultimate controlling entities behind Fortis Developments acquired the Company. Kieran Moore and Darren McClellan became shareholders and directors of Beaumont Morgan at this time.
Audited accounts filed by the Company show that turnover increased steadily between 2015 and 2021 with turnover of £26.4m in 15/16, £38.7m in 16/17, £40.6m in 17/18, £40.2m in 18/19 and £47.1m in 19/20. The Company's most recent set of audited accounts, made up to March 2020 recorded a profit of £86,711, with a loss of £69,301 having been recorded the previous year.
Administrators' statement of proposals (2022-03-09) · Companies House register