Administration · 16 May 2022

DCB (Kent)

Developer · Sittingbourne · South East England

What happened

DCB (KENT) LIMITED (company number 03532339), incorporated in 1998, entered administration on 16 May 2022. Its status at Companies House is now: liquidation.

Why it failed

Construction contracts costing an estimated £6m to £12m more to complete than agreed left a working capital deficiency; the owner blames former parent Kinovo for not funding (unverified).

Main reason: Losses on contracts
Cash flow
Funding withdrawn
Sale or investment 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: D. COLE BUILDERS LIMITED.

Timeline

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

31 March 2021
Last accounts filed were made up to this date
14 months later
16 May 2022
Administration started
23 months later
30 April 2024
Administration ended
30 April 2024
Creditors' voluntary liquidation started (shareholders resolved to wind up)

AccountsPayment reportInsolvency

Before it failed

Key figures

Turnover in its last accounts, year to Mar 2021: £20.8m; Accounts at Companies House
Profit before tax, year to Mar 2021: £242k; Accounts at Companies House
Staff, year to Mar 2021: 78; Accounts at Companies House
Net assets, year to Mar 2021: £1.5m; Accounts at Companies House
Owed to unsecured creditors (estimated), as at 16 May 2022: £7.0m; of which trade creditors £4.3m. HMRC owed £120k. Expected return to unsecured creditors: none expected; Administrators' proposals (includes £2.1m owed to its former parent)

The last accounts filed were full accounts made up to 31 March 2021, 14 months before it went into administration.

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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