One Life Funeral Planning Ltd (13084196): administration
- Status
- Administration ended
- Administration began
- 2022-11-02
- Administrators
- Andrew Watling, Kelly Mitchell
- Administrators' firm
- Quantuma
- Incorporated
- 2020-12-16
- Location
- Southampton
- Industry
- 96030 Funeral and related activities
Why it went into administration
- Regulatory change or action
From the administrators' statement
3.1 Quantuma Advisory Limited were first approached by the Company on 27 July 2022 to provide advice regarding the Company’s options when it became apparent that it was not going to be able to obtain the appropriate FCA authorisation.
3.2 It was evident that there was a considerable shortfall on the funds held in the Trust account to be able to repay all plan holders therefore it was not possible to arrange an orderly wind-down. The preferred option would be to transfer the plans to a new provider.
3.3. Quantuma Advisory Limited carried out advisory work and assisted with liaisons between the Company, the Trustees of The One Life Trust, potential transferors and the FCA.
Administrators' statement of proposals (2022-12-23) · Companies House register