Knightsbridge Real Estate Asset Management Limited (10249111): administration
- Status
- Administration ended
- Administration began
- 2023-10-26
- Administrators' firm
- Mercian Advisory
- Incorporated
- 2016-06-24
- Location
- Lichfield
- Industry
- 70229 Management consultancy activities other than financial management
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated as Knightsbridge Real Estate Asset Management Limited (‘the Company") on 24 June 2016 and commenced trading immediately under the trading name KREAM.
The Company's liabilities consist of VAT and CT arrears, a balance due to Barclays Bank plc (bounce back loan and overdraft), a director's loan account, the accountant, and a disputed claim lodged by an architect previously engaged by the Company.
It is understood that the Company has effectively not traded for more than 2 years. In September 2021 the Company held a plot of land that was sold, subject to conditions, to a connected entity JWL Private Limited ("JWL"). The sales consideration was £470,000 plus VAT. The director has stated that it was a condition of the agreement that, if planning permission was not obtained within 2 years, no payment would be required by JWL.
Administrators' statement of proposals (2023-12-04) · Companies House register