Administration · 10 September 2024
Hadden Construction
Main contractor · Auchterarder · Scotland
What happened
HADDEN CONSTRUCTION LIMITED (company number SC141875), incorporated in 1992, entered administration on 10 September 2024. Its status at Companies House is now: administration.
Why it failed
Deteriorating liquidity left it unable to keep up an HMRC time to pay deal, leaving about £2m VAT and over £2m subcontractor arrears; a review found finance function weaknesses.
- Main reason: Cash flow
- HMRC debts
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: ACTIVEFORM LIMITED.
Timeline
The last accounts and payment report before the failure, then what happened, with the time between each.
31 March 2023
Last accounts filed were made up to this date
18 months later
10 September 2024
Administration started
AccountsPayment reportInsolvency
Before it failed
Key figures
- Owed to suppliers and subcontractors (estimated), as at 10 September 2024
- £6.7m
- HMRC owed £2.4m. a further £541k owed to its lenders. Expected return to unsecured creditors: none expected
- Administrators' proposals (trade creditors)
The last accounts filed were full accounts made up to 31 March 2023, 17 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
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