Design Foresightful Architecture Limited (13253954): administration
- Status
- Administration ended
- Administration began
- 2024-06-17
- Administrators
- Andrew Mctear, Hayley Watson
- Administrators' firm
- David Futter Associates
- Incorporated
- 2021-03-09
- Location
- Norwich
- Industry
- 71111 Architectural activities
Why it went into administration
- Rising costs / inflation
- Bad debts / customer insolvency
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 9 March 2021 and started trading on 1 May 2021 following the purchase of the business and assets of David Futter Associates Limited (‘DFAL"). The Company operated as an architectural practice providing a range of services to its clients including concept design, planning application and site appraisals.
During the first year of trading to 31 March 2022 the Company achieved a turnover of £299,851 with a net loss of £15,695. The practice mainly worked on legacy projects from DFAL. whilst also establishing new projects and clients. Throughout this period the Company implemented a number of cost saving initiatives including a reduction of equipment leases.
On 31 March 2022 a moratorium was placed on ail planning applications by Natural England which resulted in applications for new housing developments for a large proportion of the Norfolk area being placed on hold due to Nutrient Neutrality (“NN”), a concept which aimed to ensure that new land developments or site upgrades did not increase the level of phosphates and nitrates entering vulnerable water courses and catchment areas. This moratorium remains in place to date with planning applications still on hold. The Company continually monitored the NN scheme and local authorities were confident that a credit brokerage would be set up by the first quarter of 2023. The aim of this was to create a non-profit organisation to act between developers and credit suppliers whereby ‘credits’ could be purchased for various planning applications which would account for the estimated nutrient loads which would be generated from the proposed developments. This would allow for the planning applications to continue once the required credits had been obtained. The funds generated from the purchase of these credits would then be used for the implementation of further mitigation schemes such as …
Administrators' statement of proposals (2024-08-06) · Companies House register