Ceminvest Limited (11883392): administration
- Status
- In administration
- Administration began
- 2023-10-27
- Administrators
- Julian Pitts, Robert Alexander Henry Maxwell
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2019-03-14
- Location
- Leeds
- Industry
- 66300 Fund management activities
From the administrators' statement
The Company was incorporated on 14 March 2019 by current director/ shareholder, Daniel Moretti, and operated within the funeral and burial sector. It was set up to purchase exclusive rights of burial (“ERB”) in various cemeteries, including Essington Cemetery, Elysium Gardens (East London) Cemetery (Rainham) and Great Hallingbury Cemetery.
As at the date of our appointment, we understand that the Company owns in excess of 12,000 ERBs in the aforementioned cemeteries. As part of the Company's strategy to acquire new parcels of land with consent to develop cemeteries, to serve the demands of those wishing to be buried, it instigated a funding round for investors to take fixed term loan notes secured against the existing ERBs to raise up to an additional £30m.
Significant investment was made into the Company in order for it to continue with its business plan. Per the Company’s filed accounts, it has fixed assets, comprising the ERBs of £74m. Purchasers of these plots were provided security under the Amicorp (UK) Limited (“Amicorp”) charge registered at Companies House.
Administrators' statement of proposals (2023-12-21) · Companies House register