CG Realisations 2023 Limited (09161643): administration
- Status
- Administration ended
- Administration began
- 2023-12-18
- Administrators
- Joseph Walter Colley
- Administrators' firm
- CBW Recovery
- Formerly
- Cogen Limited
- Incorporated
- 2014-08-05
- Location
- London
- Industry
- 74909 Other professional, scientific and technical activities n.e.c.
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Rising costs / inflation
- Sustained trading losses
From the administrators' statement
The Company was subject to a winding up petition dated 19 January 2023 presented by HMRC and served on the Company on 2 February 2023. The petition was in respect of unpaid National Insurance Contributions (Class1 and 1A), Income Tax (PAYE), Student loan repayments, VAT, surcharges, penalties and accrued interest. The petition debt statement at that time was £2,540,481.82.
The matter was first heard on 8 March 2023. Prior to the hearing the Company made payment of £1,271,127, being the Court costs of the Petition and 50% of the petition value.
The petition was adjourned to 7 June 2023. This was principally to allow the Company to allow the completion of the Company’s ongoing projects namely being the “Hay Hall” project, which at the time the Directors expected to be completed within 12 weeks. The Hay Hall project, on completion, would see an initial sum of circa £14.5 million released into the Company. The Hay Hall project was held in the Company’s wholly owned subsidiary, Hay Hall Bio Power Limited, for which the Company acted as project manager and held the management services agreement for.
Administrators' statement of proposals (2024-01-15) · Companies House register