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Administration · 5 October 2023

Appletree Farm Cressing

Developer · Beaconsfield · South East England

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What happened

APPLETREE FARM CRESSING LIMITED (company number 12401266), incorporated in 2020, entered administration on 5 October 2023. Its status at Companies House is now: administration.

Why it failed

Higher interest rates cut demand for homes and land; project overspends, undisclosed related-party issues and falling cash caused loan covenant breaches, and the whole Inland Homes group entered administration.

  • Main reason: Market downturn
  • Losses on contracts
  • Cash flow
  • Funding withdrawn
  • Accounting irregularities
  • Group company failed

Our summary of the reasons given in the administrators' proposals. These record the administrators' and directors' account of what happened.

An administrator, a licensed insolvency practitioner, takes control of the company to try to rescue it, sell the business or get a better result for creditors than a liquidation.

Previously known as: INLAND (CRESSING) LIMITED.

Timeline

The last accounts and payment report before the failure, then what happened, with the time between each.

  1. 30 September 2021

    Last accounts filed were made up to this date

    2 years later

  2. 5 October 2023

    Administration started

AccountsPayment reportInsolvency

Before it failed

The last accounts filed were full accounts made up to 30 September 2021, 24 months before it went into administration. Private companies have nine months after their year end to file, so a gap of more than 21 months usually means the next accounts were overdue, one of the warning signs worth checking for.

The full filing history, including any late filings, charges and director changes, is on Companies House.

Lessons learned report

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In the news

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