Velocity Homes Limited (12301610): administration
- Status
- In administration
- Administration began
- 2026-05-18
- Administrators
- Andrew Mctear, Joanna Watts
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2019-11-06
- Location
- Norwich
- Industry
- 41100 Development of building projects
Why it went into administration
- Creditor pressure / legal action
- HMRC / tax arrears
- Rising costs / inflation
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 6 November 2019 and began trading as a residential construction and refurbishment contractor, operating primarily in South London and the surrounding region. The Company specialised in domestic extensions, refurbishments, structural works and project management, serving private homeowners and small developers.
In its initial years the Company delivered steady turnover, exceeding £500,000 in 2021 through a combination of repeat clients and referrals. Trading results were consistent with a small construction contractor with margins dependent on subcontractor availability and material pricing. As the Company’s reputation grew, it expanded its project scope to include larger structural refurbishments and multi-trade residential projects.
By 2023 the Company experienced a significant increase in enquiries and accepted several larger projects. However, this expansion required increased subcontractor engagement and meant higher material purchasing costs causing greater demand on the Company’s cashflow position. The Company continued to trade but margins tightened due to rising material costs and extended project durations.
Administrators' statement of proposals (2026-07-10) · Companies House register