Administration · 18 December 2024

LDO Realisations

Developer · East Molesey · South East England

What happened

LDO REALISATIONS LIMITED (company number 01467331), incorporated in 1979, entered administration on 18 December 2024. Its status at Companies House is now: administration.

Why it failed

Working capital strain from site purchases, delayed and cost-inflated bespoke contracts, and growing overdue subcontractor debts, plus a lender unwilling to give more support, led to a pre-pack administration.

Main reason: Cash flow
Losses on contracts
Cost inflation
Delays
Covid-19
Funding withdrawn
Market downturn

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: OCTAGON DEVELOPMENTS LIMITED, GORSECROWN 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
21 months later
18 December 2024
Administration started

AccountsPayment reportInsolvency

Before it failed

Key figures

Turnover in its last accounts, year to Mar 2023: £31.2m; Accounts at Companies House
Loss before tax, year to Mar 2023: £4.4m; Accounts at Companies House
Net assets, year to Mar 2023: £20.3m; Accounts at Companies House
Owed to suppliers and subcontractors (estimated), as at 18 December 2024: £9.3m; about 507 creditors. HMRC owed £591k. Expected return to unsecured creditors: expected, amount not yet known; Administrators' proposals (trade creditors)
Staff when it failed, Administrators' proposals (trade creditors): 70; Administrators' proposals (trade creditors)

The last accounts filed were full accounts made up to 31 March 2023, 21 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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