Company voluntary arrangement · 8 August 2025

Baxter Kelly

Housebuilder · Stafford · West Midlands

What happened

BAXTER KELLY LTD (company number 09876352), incorporated in 2015, entered company voluntary arrangement on 8 August 2025. Its status at Companies House is now: administration.

Why it failed

Demand for ECO-funded work fell, making projects unprofitable; high overheads were kept too long, HMRC debts went unpaid, HMRC petitioned and rejected the CVA, and no buyer was found.

Main reason: Market downturn
Losses on contracts
HMRC debts
Cash flow
Sale or investment failed

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

The company agrees a deal with its creditors to repay some or all of its debts over time while it keeps trading.

Timeline

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

31 May 2024
Last accounts filed were made up to this date
15 months later
8 August 2025
Company voluntary arrangement started
1 month later
12 September 2025
Company voluntary arrangement ended
12 September 2025
Administration started

AccountsPayment reportInsolvency

Before it failed

Key figures

Turnover in its last accounts, year to May 2024: £43.1m; Accounts at Companies House
Profit before tax, year to May 2024: £1.5m; Accounts at Companies House
Staff, year to May 2024: 154; Accounts at Companies House
Net assets, year to May 2024: £2.4m; Accounts at Companies House
Owed to unsecured creditors (estimated), as at 12 September 2025: £4.3m; of which trade creditors £3.1m. HMRC owed £1.9m. a further £2.5m owed to its lenders. Expected return to unsecured creditors: prescribed part only; Administrators' proposals

The last accounts filed were medium-sized company accounts made up to 31 May 2024, 14 months before it failed.

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

Lessons learned report

We're writing plain-English reports on major construction failures: who was involved, why it happened, the warning signs and how long they were visible, and what to look out for next time.

In the news

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