# Velocity Homes Limited (12301610)

> Why UK company 12301610 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/12301610

- **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.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/12301610/filing-history/MzUyOTQ5Nzk2N2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/12301610

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