WVS Properties Limited (09285662): administration
- Status
- Administration ended
- Administration began
- 2022-09-02
- Administrators' firm
- FRP Advisory
- Incorporated
- 2014-10-29
- Location
- Milton Keynes
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was incorporated as WVS Properties Limited ("the Company”) on 29 October 2014. The Company did not trade, and instead acted as a property holding company. On incorporation, the Directors and shareholders of the Company were John Parker and John Bullwright. Both Directors remained in office until the resignation of Paul Bullwright on 31 August 2021, whereupon John Parker became the sole Director of the Company.
Upon the resignation of Paul Bullwright, a transaction was entered into between the Directors and a connected company (being WVS Holdings Limited) to acquire the shares previously held by the Directors. The intention behind this transaction was that all share capital of the Company, and that of an additional related company (being Wright Vehicle Solutions Limited) would be acquired by WVS Holdings Limited (solely controlled by Mr John Parker) as to facilitate the acquisition of Mr Bullwright's shares. It is apparent from a review of the register held at Companies House that this change to the shareholding of the Company has not been updated.
The Company operated as a property holding company specifically for a related company, Wright Vehicle Solutions Limited ("Wright") which was an Operating company trading as a used motor dealer from an address located at 12 Dane Road, Bletchley, Milton Keynes, MK1 1JQ ("the premises’).
Administrators' statement of proposals (2022-10-27) · Companies House register