Administration · 9 August 2023

Henley Homes

Housebuilder · London · Greater London

What happened

HENLEY HOMES PUBLIC LIMITED COMPANY (company number 03718331), incorporated in 1999, entered administration on 9 August 2023. Its status at Companies House is now: liquidation.

Why it failed

Unable to meet a court judgment of over £2.5m, with contingent cladding claims also notified, after subsidiary Henley Construct failed on cost overruns from rising material and labour costs.

Main reason: Legal claims
Group company failed
Cash flow
Cost inflation
Losses on contracts

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.

Timeline

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

31 December 2021
Last accounts filed were made up to this date
20 months later
9 August 2023
Administration started
12 months later
5 August 2024
Administration ended
5 August 2024
Creditors' voluntary liquidation started (shareholders resolved to wind up)

AccountsPayment reportInsolvency

Before it failed

Key figures

Turnover in its last accounts, year to Dec 2021: £1.8m; Accounts at Companies House
Profit before tax, year to Dec 2021: £603k; Accounts at Companies House
Staff, year to Dec 2021: 26; Accounts at Companies House
Net assets, year to Dec 2021: £24.2m; Accounts at Companies House
Owed to suppliers and subcontractors (estimated), as at 2 October 2023: £409k; HMRC owed £352k. a further £4.2m owed to its lenders. Expected return to unsecured creditors: about 59p in the pound; Administrators' proposals (trade creditors)

The last accounts filed were group accounts made up to 31 December 2021, 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

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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