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Compulsory liquidation · 23 November 2021

Beaumont Morgan Developments

Housebuilder · Manchester · North West England

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What happened

BEAUMONT MORGAN DEVELOPMENTS LIMITED (company number 07619223), incorporated in 2011, entered compulsory liquidation on 23 November 2021. Its status at Companies House is now: liquidation.

Why it failed

Thin-margin fixed-price contracts suffered delays, overspend, liquidated damages and cost surges, then Covid-19 cut new work, a client stopped paying and lost adjudications triggered winding-up petitions.

  • Main reason: Losses on contracts
  • Delays
  • Cost inflation
  • Covid-19
  • Clients not paying or failing
  • Legal claims
  • Market downturn
  • Cash flow

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

A court orders the company to be wound up, usually after a creditor petitions because it is owed money. The company's assets are sold and the proceeds shared among creditors.

Timeline

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

  1. 27 March 2020

    Last accounts filed were made up to this date

    20 months later

  2. 23 November 2021

    Winding-up petition presented

    2 months later

  3. 13 January 2022

    Administration started

    2 years later

  4. 11 January 2024

    Administration ended

    7 months later

  5. 13 August 2024

    Winding-up order made by the court

AccountsPayment reportInsolvency

Before it failed

Key figures

Turnover in its last accounts, year to Mar 2020
£47.2m
Accounts at Companies House
Profit before tax, year to Mar 2020
£67k
Accounts at Companies House
Staff, year to Mar 2020
61
Accounts at Companies House
Net assets, year to Mar 2020
£499k
Accounts at Companies House
Owed to unsecured creditors (estimated), as at 13 January 2022
£7.6m
of which trade creditors £7.0m. HMRC owed £1.4m. staff owed £165k. Expected return to unsecured creditors: none expected
Administrators' proposals

The last accounts filed were full accounts made up to 27 March 2020, 20 months before it failed.

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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