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Administration · 8 June 2023

Henry Construction Projects

Main contractor · London · Greater London

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What happened

HENRY CONSTRUCTION PROJECTS LIMITED (company number 07282527), incorporated in 2010, entered administration on 8 June 2023. Its status at Companies House is now: administration.

Why it failed

Construction and material costs rose sharply on fixed-price contracts, causing mounting losses and falling cash, and a creditor's winding-up petition forced the company into administration.

  • Main reason: Losses on contracts
  • Cost inflation
  • Covid-19
  • Cash flow

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.

  1. 30 June 2021

    Last accounts filed were made up to this date

    2 years later

  2. 8 June 2023

    Administration started

AccountsPayment reportInsolvency

Before it failed

Key figures

Turnover in its last accounts, year to Jun 2021
£402.2m
Accounts at Companies House
Profit before tax, year to Jun 2021
£14.0m
Accounts at Companies House
Staff, year to Jun 2021
49
Accounts at Companies House
Net assets, year to Jun 2021
£38.1m
Accounts at Companies House
Owed to unsecured creditors (estimated), as at 28 July 2023
£43.4m
Expected return to unsecured creditors: a payment may be possible; amount not yet known
Administrators' proposals (estimated outcome statement)

The last accounts filed were full accounts made up to 30 June 2021, 23 months before it went into administration. Private companies have nine months after their year end to file, so a gap of more than 21 months usually means the next accounts were overdue, one of the warning signs worth checking for.

The full filing history, including any late filings, charges and director changes, is on Companies House.

Lessons learned report

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