DMR Homes Ltd (10998566): administration
- Status
- Administration ended
- Administration began
- 2019-12-02
- Administrators
- Paul Ellison, Gareth Wyn Roberts
- Administrators' firm
- KRE Corporate Recovery
- Incorporated
- 2017-10-05
- Location
- 1-7 King Street
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- Property / lease costs
- HMRC / tax arrears
From the administrators' statement
In or around December 2018, the Company purchased a derelict pub, The Coach House, in Stoke-on-Trent and converted this into an 11-bedroom House of-Multiple Occupancy (“HMO”).
This purchase and conversion was principally funded through a bridging loan for the sum of approximately £380,000, provided by Amicus Finance Plc (“Amicus”) - now in Administration).
Until completion of the conversion, the Company was charged council tax on the property as a whole, amounting to approximately £1,300 per calendar month. Following a council assessment, it was determined that each bedroom should be rated as a separate dwelling (at Grade A rates) and therefore the overall council tax rose to £12,560 per annum.
Administrators' statement of proposals (2020-01-21) · Companies House register