# 42 Bluebell Way Ltd (10850459)

> Why UK company 10850459 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/10850459

- **Status:** In administration
- **Administration began:** 2026-07-23
- **Administrators:** Andrew Little, Gillian Margaret Sayburn
- **Administrators' firm:** Begbies Traynor
- **Incorporated:** 2017-07-05
- **Location:** Newcastle upon Tyne
- **Industry:** 82990 Other business support service activities n.e.c.

## From the administrators' statement

The Company was formed in July 2017 specifically to hold an investment property that had been crowd funded following a promotion by Crowd2Let Capital Ltd.

The initial investors purchased “shares” in the company based on a crowdfunded package price of £72,000. This covered the purchase price of the property, legal costs and an element of funds for decoration / refurbishment. The property purchase price registered at Land Registry was £59,500. This was recorded in the initial accounts as £62,175 which is assumed to include some modest capital expenditure following acquisition of £2,675. Each “share” cost £500 and represented the purchase of one £1 share and a long term loan of £499 per “share”. The initial subscription was for 1 share recorded as being owned by Keith Ivison, the initial director. An additional 144 shares were issued but the recording of these shares (although allotted in July 2017) did not take place at Companies House until 30 October 2023. These original shareholders were not recorded on the incorporation documents at Companies House but were dealt with by way of a confirmation statement filled in October 2023 reflecting the allotment of shares in July 2017. There have been no subsequent amendments to the register of shareholders. We are aware that the investment database held by Crowd2Let Capital Ltd does not …

The initial accounts as at 31 July 2018 would not appear to reflect the full funding package subscribed for in long term creditors. No other information is available as to why this is the case.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/10850459/filing-history/MzU0ODkxNTM1OGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/10850459

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.