# DNA (Nestles Square) Limited (12612717)

> Why UK company 12612717 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/12612717

- **Status:** In administration
- **Administration began:** 2022-12-21
- **Administrators:** Philip Reynolds, Steven John Williams
- **Administrators' firm:** FRP Advisory
- **Formerly:** ZX (Nestles Square) Limited; DNA CH Nestles Limited
- **Incorporated:** 2020-05-20
- **Location:** London
- **Industry:** 41100 Development of building projects

## Why it went into administration

- Funding withdrawn / unable to refinance

## From the administrators' statement

The Company was incorporated on 20 May 2020 as a special purpose vehicle to acquire the Property with a view to obtaining planning permission for a mixed-use residential scheme 1. The Company acquired the Property on 24 June 2020 for total consideration of £23m plus VAT.

The Company raised debt finance in order to fund the transaction from the Secured Creditors. Vebral Limited (as senior secured creditor} has provided funds totalling £18m and Hayes Ventures (as second ranking secured creditor) provided mezzanine funding totalling £23m.

Vebral benefits from fixed and floating charge security over the Company’s assets created on 26 March 2021, delivered to the Registrar of Companies on 26 March 2021.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/12612717/filing-history/MzM2ODc2NzE1NmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/12612717

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