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Creditors' voluntary liquidation · 13 November 2023

Real SW

Developer · Horsham · South East England · Part of Real

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What happened

REAL SW LIMITED (company number 12422415), incorporated in 2020, entered creditors' voluntary liquidation on 13 November 2023. Its status at Companies House is now: liquidation.

Why it failed

Group losses on a fixed-price contract portfolio exceeded expectations because of unprecedented inflation, delaying projects; creditor pressure and other group insolvencies left the company unable to trade.

  • Main reason: Cost inflation
  • Losses on contracts
  • Delays
  • Cash flow
  • Group company failed

Our summary of the reasons given in the administrators' proposals for Real LSE, another company in the group. These record the administrators' and directors' account of what happened.

The directors and shareholders decide to close an insolvent company. A liquidator sells its assets and shares the proceeds among creditors.

Previously known as: RYDON SW LIMITED.

Timeline

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

  1. 28 February 2022

    Last accounts filed were made up to this date

    21 months later

  2. 13 November 2023

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

AccountsPayment reportInsolvency

Before it failed

Key figures

Turnover in its last accounts, year to Feb 2022
£38.2m
Accounts at Companies House
Loss before tax, year to Feb 2022
£1.3m
Accounts at Companies House
Net liabilities, year to Feb 2022
£825k
Accounts at Companies House

The last accounts filed were full accounts made up to 28 February 2022, 20 months before it failed.

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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