Baxter Kelly Ltd (09876352): administration
- Status
- In administration
- Administration began
- 2025-09-12
- Administrators
- Benjamin John Wiles, Philip Joseph Dakin
- Administrators' firm
- Kroll
- Incorporated
- 2015-11-17
- Location
- London
- Industry
- 41202 Construction of domestic buildings
Why it went into administration
- HMRC / tax arrears
- Property / lease costs
- Sustained trading losses
- Loss of a key customer, supplier or contract
- Over-expansion / investment not recovered
From the administrators' statement
In the financial year from June 2024 to May 2025, the Company’s revenue fell sharply to a forecasted £18 million, with an expected £3 million operating loss.
This was driven by a reduction in ECO-funded work as a result of falling ABS demand, triggered by energy suppliers reassessing their compliance obligations. This led to a decrease in the ABS market rates rendering many of the Company’s ongoing ECO projects unprofitable. This was compounded by wider industry uncertainty caused by a snap General Election in 2024 and delayed government consultation on the next phase of ECO works.
Although SHDF activity was growing, it was not yet sufficient to offset the downturn in ECO work. The Company was slow to implement redundancies and other cost saving measures and as a result it maintained high overheads at a time when revenues were falling.
Administrators' statement of proposals (2025-11-04) · Companies House register