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Administration · 14 May 2024

HC Realisations 2024

Developer · Bath · South West England

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What happened

HC REALISATIONS 2024 LTD (company number 02349210), incorporated in 1989, entered administration on 14 May 2024. Its status at Companies House is now: liquidation.

Why it failed

Covid and inflation hit fixed-price contracts, then client-side funding was withheld and £1.8m offered by an employer went unpaid; Lloyds declined a bridging loan and no buyer was found.

  • Main reason: Clients not paying or failing
  • Covid-19
  • Cost inflation
  • Losses on contracts
  • Delays
  • 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  • Funding withdrawn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: HALSALL CONSTRUCTION LIMITED.

Timeline

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

  1. 30 September 2022

    Last accounts filed were made up to this date

    20 months later

  2. 14 May 2024

    Administration started

    11 months later

  3. 30 April 2025

    Administration ended

  4. 30 April 2025

    Creditors' voluntary liquidation started (shareholders resolved to wind up)

AccountsPayment reportInsolvency

Before it failed

Key figures

Staff, year to Sept 2022
60
Accounts at Companies House
Net assets, year to Sept 2022
£36k
Accounts at Companies House
Owed to unsecured creditors (estimated), as at 14 May 2024
£9.0m
of which trade creditors £7.1m. HMRC owed £435k. a further £224k owed to its lenders. Expected return to unsecured creditors: expected, amount not yet known
Administrators' proposals (includes £1.65m owed to group companies)

The last accounts filed were full accounts made up to 30 September 2022, 19 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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In the news

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